1008 4th Ave · Pleasant Grove, AL 35127

$189,000

3 bd · 2.0 ba · 2,405 sqft · SingleFamily public records · 64 Days on market

Built 1979 0.38 ac lot $79/sqft · 26% below area Est $254k · 26% under

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Why this score? — see what drove the D+ 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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity in Pleasant Grove. Large 3 bedroom 2 bath home with an unfinished basement and large yard. Some updates include new laminate hardwood flooring and new windows. Large backyard perfect for ball games or gardening. Basement Den with Full Bath, 2 car basement Garage as well as a 2 car detached garage/storage building. Your creative touches could make this a show place!

Key facts

• Unfinished basement
• Large backyard
• New windows

Tags

• UNFINISHED BASEMENT
• NEW LAMINATE HARDWOOD FLOORING
• NEW WINDOWS
• LARGE BACKYARD
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (10.4% below list).
• Recommended offer: $169k (10.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#211 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Jefferson County (suburban): math 9% / reading 32% proficiency, ranked #104 of 129 in AL (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k 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 64 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $169,312 (10.4% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.17%
• DSCR: 1.10
• GRM: 9.3

CMA / ARV

• ARV (median comp): $253,792
• List price: $189,000
• Delta: -25.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 11th St	0.33mi	4/3.0 (+1)	2,428 (+1%)	2mo	$360,000	$148	73
1106 Pleasant Grove Rd	0.33mi	4/2.0 (+1)	2,428 (+1%)	9mo	$155,000	$64	70
311 11th Pl	0.28mi	4/2.5 (+1)	2,378 (-1%)	14mo	$290,000	$122	67
423 13th Pl	0.50mi	3/2.0	2,530 (+5%)	12mo	$235,000	$93	58
108 9th St	0.41mi	3/1.0	2,700 (+12%)	3mo	$82,000	$30	54
812 2nd Ave	0.40mi	4/3.0 (+1)	2,241 (-7%)	9mo	$210,000	$94	53
104 8th St	0.52mi	3/2.0	2,168 (-10%)	9mo	$215,000	$99	52
1335 4th Ter	0.62mi	4/3.0 (+1)	2,316 (-4%)	5mo	$265,000	$114	52
1201 7th Ave N	0.58mi	4/2.5 (+1)	2,226 (-7%)	4mo	$230,000	$103	50
1206 7th Ave	0.62mi	4/3.0 (+1)	2,662 (+11%)	2mo	$280,000	$105	42
750 7th Pl	0.73mi	3/2.0	2,718 (+13%)	9mo	$222,900	$82	36
544 Park Rd	0.66mi	3/3.0	2,096 (-13%)	9mo	$180,000	$86	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.54×
• Total profit: $-24,542
• Equity at exit: $28,181

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-13,576
• Equity at exit: $16,341

Cash invested: $52,920 (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 35127

• Home prices YoY: -32.6%
• Active inventory: 56
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,693 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$172 /mo · $2,063/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $96

Break-even live

Break-even rent $1,572

Max offer price $189,000

Occupancy floor 89%

Sensitivity live

Price	-10% $203	-5% $149	+0% $96	+5% $42	+10% $-11
Rent	-10% $-38	-5% $29	+0% $96	+5% $163	+10% $229
Rate	-1.0pp $191	-0.5pp $144	base $96	+0.5pp $47	+1.0pp $-3

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 4th Ave Pleasant Grove, AL	3.0	2.0	1672	$1,586	$0.95	44d	1	0.93mi

Listing history 21 events

1. 2026-06-18
   days on market $189,000 Active 64 DOM
2. 2026-06-17
   days on market $189,000 Active 63 DOM
3. 2026-06-16
   days on market $189,000 Active 62 DOM
4. 2026-06-15
   days on market $189,000 Active 61 DOM
5. 2026-06-13
   days on market $189,000 Active 59 DOM
6. 2026-06-10
   days on market $189,000 Active 56 DOM
7. 2026-06-09
   days on market $189,000 Active 55 DOM
8. 2026-06-08
   days on market $189,000 Active 54 DOM
9. 2026-06-07
   days on market $189,000 Active 53 DOM
10. 2026-06-03
    days on market $189,000 Active 49 DOM
11. 2026-06-02
    days on market $189,000 Active 48 DOM
12. 2026-06-01
    days on market $189,000 Active 47 DOM
13. 2026-05-31
    days on market $189,000 Active 46 DOM
14. 2026-05-16
    price $189,000 385-char remark

    Show marketing remark (385 chars)

    Great Opportunity in Pleasant Grove. Large 3 bedroom 2 bath home with an unfinished basement and large yard. Some updates include new laminate hardwood flooring and new windows. Large backyard perfect for ball games or gardening. Basement Den with Full Bath, 2 car basement Garage as well as a 2 car detached garage/storage building. Your creative touches could make this a show place!

15. 2026-04-15
    listed $199,000 Active 385-char remark

    Show marketing remark (385 chars)

    Great Opportunity in Pleasant Grove. Large 3 bedroom 2 bath home with an unfinished basement and large yard. Some updates include new laminate hardwood flooring and new windows. Large backyard perfect for ball games or gardening. Basement Den with Full Bath, 2 car basement Garage as well as a 2 car detached garage/storage building. Your creative touches could make this a show place!

16. 2022-04-11
    soldstatus $230,000 14-char remark

    Show marketing remark (14 chars)

    For Comps Only

17. 2022-02-14
    soldstatus $230,000
18. 2022-02-11
    soldstatus $230,000
19. 2021-12-01
    listed $239,000 14-char remark

    Show marketing remark (14 chars)

    For Comps Only

20. 2021-06-29
    listed $239,900
21. 1979-10-29
    soldstatus $61,000

ⓘ 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: $2,063 · $172/mo
• Projected year-2 tax: $2,063 · $172/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,317
• − Mortgage interest: −$10,587
• − Property taxes: −$2,063
• − Insurance: −$945
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$5,498
• Taxable loss: −$2,027
• Est. tax savings @ 24.0%: +$486
• After-tax cash flow: $1,635/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: Jefferson County
• NCES district ID: 0101920
• Math proficiency: 9% ▼ -24.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $51,712
• Composite: 18.4/100
• National rank: #8937
• State rank: #104 of 129 in AL

Livability — Pleasant Grove

• Score: 62/100
• State rank: #211
• US rank: #16232

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasant Grove, AL
• County: Jefferson County · 527,445 people
• City population: 9,442
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 9,442
• Household income: $70,317
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 198.0

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 (68%)
• Race & ethnicity: Black 68% White 29% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -98.05%
• Current HPI: 202.2294
• 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

+209.8% since first listed

8 events — show timeline

• 2026-05-16 Price Changed $189,000 Greater Alabama MLS
• 2026-04-15 Listed $199,000 Greater Alabama MLS
• 2022-04-11 Sold (MLS) $230,000 Greater Alabama MLS
• 2022-02-14 Sold (Public Records) $230,000 Public Records
• 2022-02-11 Sold (MLS) $230,000 Walker County Area MLS
• 2021-12-01 Listed $239,000 Greater Alabama MLS
• 2021-06-29 Listed $239,900 Walker County Area MLS
• 1979-10-29 Sold (Public Records) $61,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $2,063 · +6.9% YoY. Source: county tax records.