117 3rd Ave S · Birmingham, AL 35205

$88,000

4 bd · 1.0 ba · 1,428 sqft · SingleFamily public records · 24 Days on market

Built 1920 6,969 sqft lot $62/sqft · at area comps Est $89k · at est. ↓ 1% since listing

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.8/15.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Plenty of space to spread out and enjoy! Upon entering, you’re welcomed into a large living room that’s perfect for family gatherings and entertaining. Just before the kitchen, you’ll find two generously sized bedrooms and a full bath. The spacious kitchen features granite countertops, built-in appliances and ample cabinet space. Just off the kitchen is an additional large room that can serve as a formal dining area, bonus room, or flex space to fit your needs. The primary suite is privately located at the rear and includes an en suite bath and closet. Enjoy year-round relaxation on the covered front porch, or step out back to a deck overlooking the large yard — perf

Key facts

• Built-in appliances
• Flex space
• Large living room

Tags

• LARGE LIVING ROOM
• GRANITE COUNTERTOPS
• BUILT-IN APPLIANCES
• AMPLE CABINET SPACE
• FORMAL DINING AREA
• FLEX SPACE

Property features AI

Finance

• Other: Lot size approximately 0.16 acres; Located in the WALKER LAND CO subdivision

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Public water; Connected sewer; Internet service available; Electric water heater
• Home design: Existing construction; Siding (other) exterior construction; Crawl space foundation
• Construction: Siding exterior; Crawl space foundation
• Exterior features: Porch; Open deck; Property is in a flood plain; No pool, patio, or garden/patio reported

Interior

• Kitchen: Stone countertops; Kitchen on main level
• Bedrooms: Master bedroom on main level; Two additional bedrooms on main level
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms; Master bath on main level; Garden tub
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Vinyl floors; Ceilings noted as 'Other (See Remarks)'; Brick wood-burning fireplace in the living room; No additional interior features listed
• Laundry & utility: Laundry on main level in a closet; Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 6.2% in Birmingham — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#78 in AL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, crime F, employment F.
• Birmingham City (urban): math 4% / reading 20% proficiency, ranked #116 of 129 in AL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Washington K8 (math 5% / reading 18%, grade F, #556 of 627 statewide, top 89%, 567 students, 92% FRL); Parker High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 826 students, 90% FRL).
• Market conditions: Rents rising (+2.6%/yr); 125 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 30% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,680 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.46% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.51%
• DSCR: 1.82
• GRM: 5.7

CMA / ARV

• ARV (median comp): $88,653
• List price: $88,000
• Delta: -0.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 1st Ave S	0.21mi	4/2.0	1,400 (-2%)	4mo	$22,000	$16	80
31 4th Ave	0.18mi	3/1.0 (-1)	1,540 (+8%)	10mo	$80,000	$52	65
9 6th Ave	0.36mi	3/2.0 (-1)	1,326 (-7%)	12mo	$120,000	$90	53
406 Goldwire Ter SW	0.58mi	3/2.0 (-1)	1,400 (-2%)	11mo	$219,000	$156	52
920 6th Pl SW	0.68mi	3/1.0 (-1)	1,484 (+4%)	6mo	$135,000	$91	52
404 Goldwire Ter SW	0.57mi	3/2.0 (-1)	1,400 (-2%)	13mo	$219,900	$157	50
1724 1st Pl S	0.54mi	3/1.0 (-1)	1,250 (-12%)	1mo	$85,000	$68	48
1724 Center St S	0.50mi	3/2.0 (-1)	1,250 (-12%)	4mo	$175,493	$140	44
612 2nd St SW	0.66mi	3/1.0 (-1)	1,320 (-8%)	13mo	$76,000	$58	41
600 9th Ct S	0.74mi	4/2.0	1,328 (-7%)	14mo	$204,500	$154	38
909 7th St SW	0.72mi	3/2.0 (-1)	1,313 (-8%)	14mo	$190,550	$145	32
845 SW Center Pl	0.69mi	3/2.0 (-1)	1,635 (+14%)	15mo	$234,000	$143	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-128
• Equity at exit: $13,121

10-year hold

• IRR: 9.1%
• Equity multiple: 1.69×
• Total profit: $16,976
• Equity at exit: $7,609

Cash invested: $24,640 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 35205

• Rents YoY: 2.6%
• Active inventory: 125
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$461
• Tax from tax record: −$140 /mo · $1,681/yr
• Insurance: −$37
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $228

Break-even live

Break-even rent $1,000

Max offer price $88,000

Occupancy floor 77%

Sensitivity live

Price	-10% $278	-5% $253	+0% $228	+5% $203	+10% $178
Rent	-10% $126	-5% $177	+0% $228	+5% $279	+10% $330
Rate	-1.0pp $272	-0.5pp $251	base $228	+0.5pp $205	+1.0pp $182

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Kappa Ave S Birmingham, AL	3.0	2.0	1034	$1,100	$1.06	44d	1	0.20mi
310 Gamma St S Birmingham, AL	3.0	1.5	1001	$1,200	$1.20	17d	1	0.28mi
12 4th Ave SW Unit 1 Birmingham, AL	3.0	1.0	1336	$1,100	$0.82	44d	1	0.29mi
506 Alpha St S Birmingham, AL	3.0	1.0	944	$1,373	$1.45	44d	1	0.39mi
806 Gamma St S Birmingham, AL	3.0	1.0	1252	$1,200	$0.96	44d	1	0.43mi
741 Center Pl SW Birmingham, AL	3.0	1.0	1101	$1,250	$1.14	17d	1	0.56mi
451 2nd Ave N Birmingham, AL	4.0	3.0	1400	$1,600	$1.14	24d	1	0.59mi
856 Center Way SW Birmingham, AL	3.0	2.0	1142	$1,200	$1.05	44d	1	0.75mi
2009 Hollins Dr Birmingham, AL	5.0	1.5	1536	$1,400	$0.91	44d	1	0.78mi
413 Fulton Ave SW Birmingham, AL	3.0	1.0	940	$525	$0.56	4d	1	0.91mi
451 2nd St N Birmingham, AL	4.0	3.0	1400	$1,600	$1.14	44d	1	0.93mi
820 McMillon Ave SW Birmingham, AL	5.0	2.0	1795	$1,350	$0.75	44d	1	0.94mi
608 Fulton Ave SW Birmingham, AL	3.0	1.0	1271	$1,300	$1.02	44d	1	1.00mi
719 Washington Ave SW Birmingham, AL	3.0	1.0	1064	$950	$0.89	12d	1	1.09mi
644 Alabama Ave SW Birmingham, AL	3.0	1.0	1274	$1,125	$0.88	24d	1	1.10mi
1012 Cotton Ave SW Birmingham, AL	3.0	1.0	1232	$1,000	$0.81	44d	1	1.14mi
2217-2249 Green Springs Hwy Unit 2241-M Birmingham, AL	3.0	2.0	1100	$1,109	$1.01	22d	1	1.25mi
624 4th Ct W Birmingham, AL	3.0	1.5	992	$1,250	$1.26	44d	1	1.28mi
724 4th Ct W Birmingham, AL	3.0	1.0	1300	$930	$0.72	44d	1	1.34mi
617 7th St W Birmingham, AL	3.0	1.5	1120	$1,175	$1.05	44d	1	1.42mi
1229 Beacon Pkwy E Birmingham, AL	1.0–3.0	1.0–2.0	1130	$1,200	$1.06	4d	16	1.44mi
1217 Fulton Ave SW Birmingham, AL	4.0	2.0	1397	$1,395	$1.00	44d	1	1.46mi
410 8th Ter W Birmingham, AL	3.0	1.0	1440	$1,200	$0.83	17d	1	1.48mi

Listing history 8 events

1. 2026-06-08
   statusdays on market $88,000 Pending 24 DOM
2. 2026-06-07
   days on market $88,000 Active 23 DOM
3. 2026-06-03
   days on market $88,000 Active 19 DOM
4. 2026-06-02
   days on market $88,000 Active 18 DOM
5. 2026-06-01
   days on market $88,000 Active 17 DOM
6. 2026-05-31
   days on market $88,000 Active 16 DOM
7. 2026-05-15
   listed $88,000 Active 974-char remark
8. 2026-03-17
   price $88,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $1,681 · $140/mo
• Projected year-2 tax: $1,681 · $140/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AH · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,469
• − Mortgage interest: −$4,929
• − Property taxes: −$1,681
• − Insurance: −$2,264
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$2,560
• Taxable income: $1,559
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $2,363/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Birmingham City
• NCES district ID: 0100390
• Math proficiency: 4% ▼ -17.00%
• Reading proficiency: 20% ▼ -4.00%
• Median HH income: $31,988
• Composite: 9.49/100
• National rank: #9850
• State rank: #116 of 129 in AL

Livability — Birmingham

• Score: 67/100
• State rank: #78
• US rank: #10412

Category grades

Amenities C- Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Birmingham, AL
• County: Jefferson County · 527,445 people
• City population: 210,422
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 18,858
• Household income: $51,158
• Rent vs Own: 67.2% rent · 32.8% own
• Severe rent burden: 1468.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 669,185 people
• By 2030: 669,694 · +0.1%
• By 2040: 661,388 · -1.2%
• By 2050: 643,086 · -3.9%
• By 2075: 577,267 · -13.7%
• By 2100: 474,758 · -29.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 60% Black 26% Hispanic / Latino 5% Asian 5% Two or more races 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Jefferson

• 2024 margin: D (+10.4) · D 54.6% · R 44.2% · Other 1.2%
• 2008→2024 swing: +5.4pp toward D · 2008: 5.1pp · 2024: 10.4pp
• All cycles: 2024: D+10.4 2020: D+13.2 2016: D+7.2 2012: D+6.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.42%
• Current HPI: 291.38
• Rent YoY: ▲ 2.59%
• Metro: Birmingham-Hoover, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

-1.0% since first listed

3 events — show timeline

• 2026-06-08 Pending — Greater Alabama MLS
• 2026-05-15 Listed $88,000 Greater Alabama MLS
• 2026-03-17 Price Changed $88,900 Greater Alabama MLS

Property tax history

+8.6%/yr

Latest (2025): $1,681 · +6.9% YoY. Source: county tax records.