3625 Grasselli Ave · Birmingham, AL 35211

$89,900

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 165 Days on market

Built 1962 6,534 sqft lot $80/sqft · 16% above area Est $77k · 16% over

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Why this score? — see what drove the C 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 +8.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great turnkey property ready for home buyers or investors looking to add to their portfolios. This home features 3 bedrooms & 1 full bathroom. Large front porch leads into the living room & dining room. Kitchen has new countertops, fridge, gas stove, space for dishwasher & washer / dryer hookups. New carpet & vinyl throughout. There are 3 bedrooms have carpet. The hall bathroom has updated vanity, vinyl flooring & toliet. There is also a covered side porch & an open porch off the back for driveway parking & entrance. Corner lot with fenced yard. Home has Section 8 electrical updates done.

Key facts

• Turnkey property
• Large front porch
• Space for dishwasher

Tags

• TURNKEY PROPERTY
• LARGE FRONT PORCH
• NEW COUNTERTOPS
• GAS STOVE
• SPACE FOR DISHWASHER
• WASHER DRYER HOOKUPS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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-, schools F, crime 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.
• Market conditions: Rents soft (-0.0%/yr); 154 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 42% of the median local income ($35k/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 $622 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $90k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.40%
• DSCR: 1.82
• GRM: 6.1

CMA / ARV

• ARV (median comp): $77,262
• List price: $89,900
• Delta: 16.36%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3720 Howard Ave SW	0.12mi	3/1.0	1,092 (-2%)	6mo	$64,000	$59	85
4008 Grasselli Ave	0.30mi	3/1.0	1,153 (+3%)	8mo	$85,000	$74	74
3304 Spaulding St SW	0.29mi	3/2.0	1,140 (+2%)	8mo	$40,000	$35	73
3008 Elmyra Dr	0.24mi	3/2.0	1,104 (-1%)	13mo	$88,000	$80	72
3509 Willard Ave SW	0.21mi	3/1.0	1,040 (-7%)	13mo	$95,000	$91	68
3729 Pine Ave SW	0.50mi	3/1.0	1,067 (-5%)	5mo	$70,000	$66	64
4100 Park Ave	0.57mi	3/1.0	1,125 (+0%)	10mo	$82,500	$73	64
3317 46th St SW	0.57mi	4/2.0 (+1)	1,103 (-2%)	2mo	$6,000	$5	60
3112 Wenonah Dr SW	0.49mi	3/2.0	1,154 (+3%)	14mo	$69,900	$61	56
3748 SW George Ave	0.21mi	3/1.0	972 (-13%)	18mo	$47,000	$48	53
3432 Willard Ave SW	0.16mi	3/1.0	960 (-14%)	19mo	$52,000	$54	53
4628 SW Hillman Dr	0.66mi	4/2.0 (+1)	1,166 (+4%)	1mo	$69,900	$60	52

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.26×
• Total profit: $6,429
• Equity at exit: $13,404

10-year hold

• IRR: 13.4%
• Equity multiple: 1.93×
• Total profit: $23,399
• Equity at exit: $7,773

Cash invested: $25,172 (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 35211

• Rents YoY: -0.0%
• Active inventory: 154
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,220 high
• Mortgage (P&I): −$471
• Tax from tax record: −$69 /mo · $828/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $386

Break-even live

Break-even rent $732

Max offer price $89,900

Occupancy floor 63%

Sensitivity live

Price	-10% $437	-5% $411	+0% $386	+5% $360	+10% $335
Rent	-10% $290	-5% $338	+0% $386	+5% $434	+10% $482
Rate	-1.0pp $431	-0.5pp $409	base $386	+0.5pp $363	+1.0pp $339

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3720 Howard Ave SW Birmingham, AL	3.0	1.0	1092	$1,200	$1.10	25d	1	0.12mi
4009 Grasselli Ave SW Birmingham, AL	3.0	1.0	875	$900	$1.03	25d	1	0.32mi
4120 George Ave SW Birmingham, AL	2.0	1.0	944	$850	$0.90	25d	1	0.33mi
3640 Wenonah Rd SW Birmingham, AL	3.0	2.0	1100	$1,195	$1.09	25d	1	0.39mi
3640 Wenonah Rd SW Birmingham, AL	3.0	2.0	1100	$1,195	$1.09	13d	1	0.39mi
4029 Walnut Ave SW Birmingham, AL	2.0	1.0	1300	$1,369	$1.05	4d	1	0.46mi
3729 Pine Ave SW Birmingham, AL	3.0	1.0	1067	$1,100	$1.03	22d	1	0.50mi
3616 Maple Ave SW Birmingham, AL	2.0	1.0	1488	$950	$0.64	45d	1	0.59mi
3736 Oak Ave SW Birmingham, AL	3.0	2.0	984	$1,050	$1.07	25d	1	0.59mi
3729 Maple Ave SW Birmingham, AL	3.0	2.0	1008	$1,200	$1.19	45d	1	0.61mi
2804 32nd Way SW Birmingham, AL	3.0	1.0	840	$900	$1.07	45d	1	0.76mi
2805 32nd Way SW Birmingham, AL	3.0	1.0	792	$900	$1.14	45d	1	0.76mi
3400 Walnut Ave SW Birmingham, AL	3.0	1.0	1133	$1,200	$1.06	45d	1	0.84mi
3332 Walnut Ave SW Birmingham, AL	3.0	1.0	1339	$750	$0.56	20d	1	0.91mi
830 Burwell St Birmingham, AL	3.0	1.5	1011	$1,200	$1.19	45d	1	0.94mi
3417 Park Ave SW Birmingham, AL	4.0	1.0	1402	$900	$0.64	45d	1	0.98mi
2800 Milan Ct Birmingham, AL	1.0–2.0	1.0–2.0	976	$2,551	$2.61	22d	10	1.13mi
2300 31st St SW Unit ENSLEY2316 A Birmingham, AL	2.0	1.0	750	$1,000	$1.33	4d	1	1.14mi
2850 Venice Rd Birmingham, AL	1.0–3.0	1.0–2.0	1190	$1,957	$1.64	3d	18	1.23mi
1441 Creel St Birmingham, AL	3.0	2.0	1319	$1,275	$0.97	4d	1	1.29mi
2113 Rambow Ave SW Birmingham, AL	2.0	1.0	838	$1,250	$1.49	45d	1	1.33mi
1721 Collier Dr Birmingham, AL	2.0	1.0	925	$800	$0.86	45d	1	1.40mi
1112 S Gale Dr Birmingham, AL	3.0	1.5	1053	$1,175	$1.12	45d	1	1.41mi
1433 Rayfield Dr Birmingham, AL	3.0	1.0	1064	$950	$0.89	45d	1	1.41mi
408 Midway St Birmingham, AL	3.0	1.0	1301	$1,075	$0.83	20d	1	1.43mi
537 Grant St Birmingham, AL	3.0	1.0	1444	$1,200	$0.83	24d	1	1.44mi
1838 31st St SW Birmingham, AL	3.0	2.0	1400	$1,223	$0.87	17d	1	1.47mi
1376 Creel Ct Birmingham, AL	3.0	1.0	1008	$1,000	$0.99	45d	1	1.47mi
913 Daniel Cir Birmingham, AL	4.0	2.0	1317	$1,300	$0.99	45d	1	1.48mi
3000 Dawson Ave SW Birmingham, AL	3.0	1.0	1092	$925	$0.85	45d	1	1.49mi

Listing history 29 events

1. 2026-06-21
   days on market $89,900 Active 165 DOM
2. 2026-06-18
   days on market $89,900 Active 162 DOM
3. 2026-06-17
   days on market $89,900 Active 161 DOM
4. 2026-06-16
   days on market $89,900 Active 160 DOM
5. 2026-06-15
   days on market $89,900 Active 159 DOM
6. 2026-06-13
   days on market $89,900 Active 157 DOM
7. 2026-06-10
   days on market $89,900 Active 154 DOM
8. 2026-06-09
   days on market $89,900 Active 153 DOM
9. 2026-06-08
   days on market $89,900 Active 152 DOM
10. 2026-06-07
    days on market $89,900 Active 151 DOM
11. 2026-06-03
    remarks 654-char remark
12. 2026-06-03
    days on market $89,900 Active 147 DOM
13. 2026-06-02
    days on market $89,900 Active 146 DOM
14. 2026-06-01
    days on market $89,900 Active 145 DOM
15. 2026-05-31
    days on market $89,900 Active 144 DOM
16. 2026-04-11
    historical $900
17. 2026-02-24
    price $89,900 637-char remark

    Show marketing remark (637 chars)

    Great turnkey property ready for home buyers or investors looking to add to their portfolios. This home features 3 bedrooms & 1 full bathroom. Large front porch leads into the living room & dining room. Kitchen has new countertops, fridge, gas stove, space for dishwasher & washer / dryer hookups. New carpet & vinyl throughout. There are 3 bedrooms have carpet. The hall bathroom has updated vanity, vinyl flooring & toliet. There is also a covered side porch & an open porch off the back for driveway parking & entrance. Corner lot with fenced yard. Home has Section 8 electrical updates done.

18. 2026-01-07
    listed $95,000 Active 637-char remark

    Show marketing remark (637 chars)

    Great turnkey property ready for home buyers or investors looking to add to their portfolios. This home features 3 bedrooms & 1 full bathroom. Large front porch leads into the living room & dining room. Kitchen has new countertops, fridge, gas stove, space for dishwasher & washer / dryer hookups. New carpet & vinyl throughout. There are 3 bedrooms have carpet. The hall bathroom has updated vanity, vinyl flooring & toliet. There is also a covered side porch & an open porch off the back for driveway parking & entrance. Corner lot with fenced yard. Home has Section 8 electrical updates done.

19. 2025-12-07
    price $900
20. 2025-11-13
    price $995
21. 2025-09-17
    price $1,000
22. 2025-07-17
    listed $1,100
23. 2022-08-24
    soldstatus $48,000
24. 2022-08-18
    soldstatus $48,000 Sold 290-char remark

    Show marketing remark (290 chars)

    This 3BR 1BA one level home is located in a quiet neighborhood close to Lawson State Jr. College. This home has a formal dining room and den with a fireplace. The property has a front porch and sits on a corner lot that is fenced in with driveway parking. Needs some work and a little TLC.

25. 2022-07-20
    historical Contingent 290-char remark

    Show marketing remark (290 chars)

    This 3BR 1BA one level home is located in a quiet neighborhood close to Lawson State Jr. College. This home has a formal dining room and den with a fireplace. The property has a front porch and sits on a corner lot that is fenced in with driveway parking. Needs some work and a little TLC.

26. 2022-07-20
    status Pending 290-char remark

    Show marketing remark (290 chars)

    This 3BR 1BA one level home is located in a quiet neighborhood close to Lawson State Jr. College. This home has a formal dining room and den with a fireplace. The property has a front porch and sits on a corner lot that is fenced in with driveway parking. Needs some work and a little TLC.

27. 2022-07-12
    status Active 290-char remark

    Show marketing remark (290 chars)

    This 3BR 1BA one level home is located in a quiet neighborhood close to Lawson State Jr. College. This home has a formal dining room and den with a fireplace. The property has a front porch and sits on a corner lot that is fenced in with driveway parking. Needs some work and a little TLC.

28. 2022-07-01
    historical Contingent 290-char remark

    Show marketing remark (290 chars)

    This 3BR 1BA one level home is located in a quiet neighborhood close to Lawson State Jr. College. This home has a formal dining room and den with a fireplace. The property has a front porch and sits on a corner lot that is fenced in with driveway parking. Needs some work and a little TLC.

29. 2022-05-23
    listed $55,000 Active 290-char remark

    Show marketing remark (290 chars)

    This 3BR 1BA one level home is located in a quiet neighborhood close to Lawson State Jr. College. This home has a formal dining room and den with a fireplace. The property has a front porch and sits on a corner lot that is fenced in with driveway parking. Needs some work and a little TLC.

ⓘ 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: $828 · $69/mo
• Projected year-2 tax: $828 · $69/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,641
• − Mortgage interest: −$5,036
• − Property taxes: −$828
• − Insurance: −$450
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$2,615
• Taxable income: $3,370
• Est. tax owed @ 24.0%: −$809
• After-tax cash flow: $3,823/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): 24,924
• Household income: $34,884
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2161.0

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: Predominantly Black (77%)
• Race & ethnicity: Black 77% White 10% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8% French/Haitian/Cajun 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: ▼ -49.29%
• Current HPI: 91.2903
• Rent YoY: ▬ -0.01%
• 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

+63.5% since first listed

14 events — show timeline

• 2026-04-11 Rental Removed $900 TENANTTURNER2
• 2026-02-24 Price Changed $89,900 Greater Alabama MLS
• 2026-01-07 Listed $95,000 Greater Alabama MLS
• 2025-12-07 Price Changed $900 TENANTTURNER2
• 2025-11-13 Price Changed $995 TENANTTURNER2
• 2025-09-17 Price Changed $1,000 TENANTTURNER2
• 2025-07-17 Listed for Rent $1,100 TENANTTURNER2
• 2022-08-24 Sold (Public Records) $48,000 Public Records
• 2022-08-18 Sold (MLS) $48,000 Greater Alabama MLS
• 2022-07-20 Contingent — Greater Alabama MLS
• 2022-07-20 Pending — Greater Alabama MLS
• 2022-07-12 Relisted — Greater Alabama MLS
• 2022-07-01 Contingent — Greater Alabama MLS
• 2022-05-23 Listed $55,000 Greater Alabama MLS

Property tax history

+2.1%/yr

Latest (2025): $828 · +6.9% YoY. Source: county tax records.