737 40th Pl · Fairfield, AL 35064

$300,000

9 bd · 1.0 ba · 4,180 sqft · MultiFamily public records · 10 Days on market

Built 1920

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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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great investment opportunity in this classic 2 story brick and frame build with beautiful front porches for each unit! All units in the building have been updated with NEW WINDOWS and doors. Two have been updated like the photos- with paint, flooring, cabinetry and upgrades in kitchens and baths, new appliances. All electrical throughout the building was brought to code. Each unit is 1,009 square feet! Large living rooms, beautiful private porches off the living room! Two large bedrooms are separated for more privacy. Lots of closets and storage! Plumbed for washer and dryer in it's own space near the bathroom. Full bath. Back exit leads to the vast parking lot with space for 10+ cars! Tons of parking space! Rents are from $550-$850. Unit C is getting new HVAC installed & should get new rent at $875 (exact number is not confirmed yet. ) 2 Long term happy tenants in place. Exterior has recently been all cleaned. New chimney caps! Separate water meters for each unit. Section 8 compliant

Key facts

• Updated baths
• Front porches
• Updated kitchens

Tags

• INVESTMENT OPPORTUNITY
• FRONT PORCHES
• NEW WINDOWS
• UPDATED KITCHENS
• UPDATED BATHS
• PRIVATE PORCHES

Property features AI

Finance

• Other: Four-unit multifamily property; Tenant pays all utilities
• Financial info: Expenses reported as per month

Exterior

• Parking: Two parking spaces per unit; On-street parking available
• Utilities: Public water; Connected sewer; Electric water heater; Tenants pay all utilities
• Home design: Brick and frame construction; Existing building
• Construction: Brick and frame construction
• Exterior features: Crawl space foundation; Flood plain: No

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Each unit has 2 bedrooms
• Flooring: Some hardwood; Tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Heat pump heating; Window air conditioning units
• Interior features: Some hardwood and tile flooring; Four total units in the building
• Laundry & utility: Washer/dryer connection in each unit

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $878 ($11k/yr) — positive. Per door: $293/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).

Location & tenants

• Location reads 64/100 on livability (#160 in AL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, amenities F, employment F.
• Fairfield City (suburban): math 2% / reading 15% proficiency, ranked #125 of 129 in AL (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Robinson Primary School (math 2% / reading 22%, grade F, #536 of 627 statewide, top 88%, 245 students, 89% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: 52 active listings in the ZIP; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• At $3,430/mo this rent would consume 85% of the median local household income ($49k/yr) (locally 784% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 + 3.0% rent growth), your $84k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $242k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $300,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.54%
• DSCR: 1.56
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $7,210
• Equity at exit: $44,731

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $77,891
• Equity at exit: $25,939

Cash invested: $84,000 (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 35064

• Home prices YoY: -28.8%
• Active inventory: 52
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $3,430 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$133 /mo · $1,602/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$720
• Net cashflow: $878

Break-even live

Break-even rent $2,319

Max offer price $300,000

Occupancy floor 69%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$3,429
Total (3 units)			$3,430

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $300,000 Active 10 DOM
2. 2026-06-17
   days on market $300,000 Active 9 DOM
3. 2026-06-16
   days on market $300,000 Active 8 DOM
4. 2026-06-15
   days on market $300,000 Active 7 DOM
5. 2026-06-13
   days on market $300,000 Active 5 DOM
6. 2026-06-10
   days on market $300,000 Active 2 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   listed $300,000 Active 1 DOM

ⓘ 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: $1,602 · $133/mo
• Projected year-2 tax: $1,602 · $133/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°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 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,160
• − Mortgage interest: −$16,805
• − Property taxes: −$1,602
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,293
• − Management: −$3,293
• − Depreciation: −$8,727
• Taxable income: $5,941
• Est. tax owed @ 24.0%: −$1,426
• After-tax cash flow: $9,110/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: Fairfield City
• NCES district ID: 0101440
• Math proficiency: 2% ▼ -18.00%
• Reading proficiency: 15% ▼ -4.00%
• Median HH income: $35,288
• Composite: 6.92/100
• National rank: #9974
• State rank: #125 of 129 in AL

Livability — Fairfield

• Score: 64/100
• State rank: #160
• US rank: #14390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfield, AL
• County: Jefferson County · 527,445 people
• City population: 9,872
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 9,872
• Household income: $48,692
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 784.0

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 (91%)
• Race & ethnicity: Black 91% White 7% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -50.47%
• Current HPI: 124.7012
• Rent YoY: —
• 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

+566.7% since first listed

9 events — show timeline

• 2026-06-08 Listed $300,000 Greater Alabama MLS
• 2024-11-25 Sold (Public Records) $242,000 Public Records
• 2024-11-22 Sold (MLS) $242,000 Greater Alabama MLS
• 2024-10-14 Contingent — Greater Alabama MLS
• 2024-10-04 Listed $240,000 Greater Alabama MLS
• 2023-09-01 Sold (Public Records) $135,000 Public Records
• 2018-11-29 Sold (Public Records) $100,000 Public Records
• 2018-10-29 Sold (Public Records) $68,500 Public Records
• 1983-07-01 Sold (Public Records) $45,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,602 · +0.0% YoY. Source: county tax records.