508 9th St · Midfield, AL 35228

$36,500

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 17 Days on market

Built 1963 6,969 sqft lot $44/sqft · 40% below area Est $61k · 40% under ↓ 3% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +0.7/10.0

Listing remarks MLS

Brick one level on corner lot, convenient location. Needs some updating but would be a great rental property or first time homebuyer home. Driveway parking and wooded back yard. Front porch is covered.

Key facts

• 6,969 sq ft lot
• Built 1963
• Listed 17 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $36k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.1% vs local median 10.0% in Midfield — 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 64/100 on livability (#164 in AL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment F.
• Midfield City (suburban): math 2% / reading 14% proficiency, ranked #126 of 129 in AL (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.5%/yr); 87 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $252 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,952 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.84% ✓
• Cap rate: 25.10%
• Cash-on-cash: 67.18%
• DSCR: 3.99
• GRM: 2.9

CMA / ARV

• ARV (median comp): $60,722
• List price: $36,500
• Delta: -34.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 8th Ave	0.25mi	2/1.0	750 (-9%)	0mo	$18,000	$24	73
1209 8th St	0.46mi	3/1.0 (+1)	912 (+10%)	15mo	$52,000	$57	43
109 Fairfield Blvd	0.52mi	3/1.0 (+1)	900 (+9%)	23mo	$85,000	$94	36

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: 63.1%
• Equity multiple: 3.69×
• Total profit: $27,507
• Equity at exit: $5,442

10-year hold

• IRR: 66.6%
• Equity multiple: 6.79×
• Total profit: $59,204
• Equity at exit: $3,156

Cash invested: $10,220 (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 35228

• Home prices YoY: -3.5%
• Rents YoY: -1.5%
• Active inventory: 87
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,035 high
• Mortgage (P&I): −$191
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $572

Break-even live

Break-even rent $311

Max offer price $36,500

Occupancy floor 40%

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: $9,125
• Closing costs: $1,095
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 10th Ave Birmingham, AL	3.0	1.0	1060	$850	$0.80	43d	1	0.37mi
407 Fairfax Dr Fairfield, AL	1.0	1.5	850	$1,160	$1.36	43d	2	0.77mi
412 Fairfax Dr Unit 424-10 Fairfield, AL	3.0	1.5	1035	$1,275	$1.23	11d	1	0.81mi
412 Fairfax Dr Unit 400-1 Fairfield, AL	2.0	1.5	935	$1,175	$1.26	2d	1	0.81mi
412 Fairfax Dr Unit 424-3 Fairfield, AL	3.0	1.5	1035	$1,200	$1.16	10d	1	0.81mi
412 Fairfax Dr Unit 436-11 Fairfield, AL	2.0	1.5	935	$910	$0.97	10d	1	0.81mi
412 Fairfax Dr Unit 436-10 Fairfield, AL	2.0	1.0	888	$890	$1.00	10d	1	0.81mi
412 Fairfax Dr Unit 432-13 Fairfield, AL	1.0	1.0	555	$775	$1.40	10d	1	0.81mi
412 Fairfax Dr Unit 400-12 Fairfield, AL	2.0	1.0	888	$915	$1.03	10d	1	0.81mi
412 Fairfax Dr Unit 416-11 Fairfield, AL	2.0	1.5	935	$975	$1.04	2d	1	0.81mi
412 Fairfax Dr Unit 444-12 Fairfield, AL	2.0	1.0	888	$910	$1.02	10d	1	0.81mi
36 Wilkes Cir Birmingham, AL	2.0	1.0	762	$875	$1.15	43d	1	0.94mi
925 Woodward Rd Birmingham, AL	2.0	2.0	1104	$950	$0.86	43d	1	0.97mi
1565 Miles St Dolomite, AL	3.0	2.0	1120	$1,175	$1.05	16d	1	0.97mi
200 Woodward Dr Bessemer, AL	3.0	1.0	900	$1,123	$1.25	2d	1	1.06mi
216 Pine St Bessemer, AL	3.0	2.0	1000	$1,200	$1.20	43d	1	1.19mi
4506 Letson St Brighton, AL	3.0	2.0	1032	$1,200	$1.16	23d	1	1.37mi
6516 Millard Fuller Rd Fairfield, AL	3.0	1.5	1120	$950	$0.85	2d	1	1.42mi

Listing history 22 events

1. 2026-06-19
   price $36,500 Active 17 DOM
2. 2026-06-18
   days on market $39,600 Active 17 DOM
3. 2026-06-17
   days on market $39,600 Active 16 DOM
4. 2026-06-16
   days on market $39,600 Active 15 DOM
5. 2026-06-15
   days on market $39,600 Active 14 DOM
6. 2026-06-13
   days on market $39,600 Active 12 DOM
7. 2026-06-13
   days on market $39,600 Active 11 DOM
8. 2026-06-10
   days on market $39,600 Active 9 DOM
9. 2026-06-09
   days on market $39,600 Active 8 DOM
10. 2026-06-08
    days on market $39,600 Active 7 DOM
11. 2026-06-07
    days on market $39,600 Active 6 DOM
12. 2026-06-05
    days on market $39,600 Active 3 DOM
13. 2026-06-03
    days on market $39,600 Active 2 DOM
14. 2026-06-02
    days on marketlisting id $39,600 Active 1 DOM
15. 2026-04-23
    price $42,983 201-char remark

    Show marketing remark (201 chars)

    Brick one level on corner lot, convenient location. Needs some updating but would be a great rental property or first time homebuyer home. Driveway parking and wooded back yard. Front porch is covered.

16. 2026-02-24
    price $50,784 201-char remark

    Show marketing remark (201 chars)

    Brick one level on corner lot, convenient location. Needs some updating but would be a great rental property or first time homebuyer home. Driveway parking and wooded back yard. Front porch is covered.

17. 2026-01-27
    price $55,200 201-char remark

    Show marketing remark (201 chars)

    Brick one level on corner lot, convenient location. Needs some updating but would be a great rental property or first time homebuyer home. Driveway parking and wooded back yard. Front porch is covered.

18. 2025-12-02
    price $60,000 201-char remark

    Show marketing remark (201 chars)

    Brick one level on corner lot, convenient location. Needs some updating but would be a great rental property or first time homebuyer home. Driveway parking and wooded back yard. Front porch is covered.

19. 2025-11-06
    price $70,000 201-char remark

    Show marketing remark (201 chars)

    Brick one level on corner lot, convenient location. Needs some updating but would be a great rental property or first time homebuyer home. Driveway parking and wooded back yard. Front porch is covered.

20. 2025-09-22
    listed $78,000 Active 201-char remark

    Show marketing remark (201 chars)

    Brick one level on corner lot, convenient location. Needs some updating but would be a great rental property or first time homebuyer home. Driveway parking and wooded back yard. Front porch is covered.

21. 2002-01-09
    soldstatus $49,900
22. 1996-04-04
    soldstatus $44,500

ⓘ 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: $465 · $39/mo
• Projected year-2 tax: $465 · $39/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 2/10 Low
• 🌡 Heat 6/10 Major 6 d/yr ≥108°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,419
• − Mortgage interest: −$2,045
• − Property taxes: −$465
• − Insurance: −$182
• − Repairs & maintenance: −$993
• − Management: −$993
• − Depreciation: −$1,062
• Taxable income: $6,678
• Est. tax owed @ 24.0%: −$1,603
• After-tax cash flow: $5,264/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: Midfield City
• NCES district ID: 0102350
• Math proficiency: 2% ▼ -18.00%
• Reading proficiency: 14% ▼ -5.00%
• Median HH income: $39,267
• Composite: 6.89/100
• National rank: #9978
• State rank: #126 of 129 in AL

Livability — Midfield

• Score: 64/100
• State rank: #164
• US rank: #14536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midfield, AL
• County: Jefferson County · 527,445 people
• City population: 10,216
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 10,216
• Household income: $50,815
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 456.0

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 (89%)
• Race & ethnicity: Black 89% Hispanic / Latino 5% Two or more races 5% White 5%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

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: ▼ -4.84%
• Current HPI: 134.8633
• Rent YoY: ▼ -1.47%
• 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

-3.4% since first listed

8 events — show timeline

• 2026-04-23 Price Changed $42,983 Greater Alabama MLS
• 2026-02-24 Price Changed $50,784 Greater Alabama MLS
• 2026-01-27 Price Changed $55,200 Greater Alabama MLS
• 2025-12-02 Price Changed $60,000 Greater Alabama MLS
• 2025-11-06 Price Changed $70,000 Greater Alabama MLS
• 2025-09-22 Listed $78,000 Greater Alabama MLS
• 2002-01-09 Sold (Public Records) $49,900 Public Records
• 1996-04-04 Sold (Public Records) $44,500 Public Records

Property tax history

-3.1%/yr

Latest (2025): $465 · -13.8% YoY. Source: county tax records.