3106 Border St · Birmingham, AL 35208

$87,500

3 bd · 1.0 ba · 1,276 sqft · SingleFamily public records · 74 Days on market

Built 1930 6,969 sqft lot $69/sqft · 26% above area Est $69k · 26% over

---

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 +9.0/10.0
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is part of a 6-home single-family rental portfolio. Five homes are currently tenant occupied, with one unit in turnover, and all properties are professionally managed-offering investors the opportunity to acquire stabilized, income-producing assets.

Key facts

• 6,969 sq ft lot
• Built 1930
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/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: $82k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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 rising fast (+7.2%/yr); 122 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 38% of the median local income ($39k/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 $605 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 + 7.2% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $73k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $82,250 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 1.40% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.89%
• DSCR: 1.88
• GRM: 6.0

CMA / ARV

• ARV (median comp): $69,477
• List price: $87,500
• Delta: 25.94%
• 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
2728 20th Place Ensley	0.55mi	3/1.0	1,344 (+5%)	1mo	$47,000	$35	64
1525 4th Ct W	0.42mi	2/2.0 (-1)	1,338 (+5%)	1mo	$120,000	$90	62
2700 30th Street Ensley	0.32mi	3/1.0	1,136 (-11%)	6mo	$33,500	$29	62
1437 Woodland Ave SW	0.56mi	3/1.0	1,369 (+7%)	5mo	$53,000	$39	58
1312 1st Ct W	0.41mi	3/2.0	1,148 (-10%)	3mo	$177,000	$154	58
1400 4th Ct W	0.52mi	3/1.0	1,164 (-9%)	4mo	$11,000	$9	57
1711 7th Ave W	0.63mi	3/1.0	1,359 (+6%)	4mo	$57,000	$42	56
1625 SW Alabama Ave	0.68mi	2/2.0 (-1)	1,290 (+1%)	2mo	$19,900	$15	56
2436 29th St W	0.60mi	3/1.0	1,398 (+10%)	2mo	$98,100	$70	55
1620 5th Ave W	0.53mi	3/2.0	1,436 (+12%)	3mo	$220,000	$153	48
1205 4th Ct W	0.62mi	3/1.5	1,146 (-10%)	7mo	$43,000	$38	47
2671 20th St W	0.61mi	3/2.0	1,428 (+12%)	2mo	$205,000	$144	46

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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.70×
• Total profit: $17,128
• Equity at exit: $13,047

10-year hold

• IRR: 27.9%
• Equity multiple: 3.96×
• Total profit: $72,603
• Equity at exit: $7,565

Cash invested: $24,500 (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 35208

• Home prices YoY: -18.1%
• Rents YoY: 7.2%
• Active inventory: 122
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,225 high
• Mortgage (P&I): −$459
• Tax from tax record: −$67 /mo · $800/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $406

Break-even live

Break-even rent $711

Max offer price $87,500

Occupancy floor 62%

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1621 2nd Ct W Birmingham, AL	3.0	1.0	1074	$1,095	$1.02	44d	1	0.18mi
2920 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1800	$1,050	$0.58	24d	1	0.26mi
2309 Eufaula Ave Birmingham, AL	4.0	2.0	1454	$1,395	$0.96	24d	1	0.27mi
2304 Eufaula Ave Birmingham, AL	3.0	1.0	1381	$980	$0.71	44d	1	0.29mi
2709 30th Street Ensley Birmingham, AL	4.0	2.0	1410	$1,323	$0.94	2d	1	0.29mi
2712 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1232	$1,099	$0.89	24d	1	0.40mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1692	$1,500	$0.89	19d	1	0.43mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1350	$1,500	$1.11	3d	1	0.43mi
2528 25th Street Ensley Birmingham, AL	3.0	1.0	1563	$1,100	$0.70	44d	1	0.56mi
1437 Woodland Ave SW Birmingham, AL	3.0	1.0	1369	$1,100	$0.80	3d	1	0.58mi
2421 29th Street Ensley Unit C Birmingham, AL	2.0	1.0	950	$703	$0.74	24d	1	0.60mi
1230 4th Ter W Birmingham, AL	3.0	2.0	1540	$1,000	$0.65	44d	1	0.62mi
2621 20th Street Ensley Birmingham, AL	3.0	1.0	1117	$1,295	$1.16	44d	1	0.62mi
2609 20th Street Ensley Birmingham, AL	3.0	2.0	1500	$1,550	$1.03	3d	1	0.63mi
2609 20th Street Ensley Birmingham, AL	3.0	2.0	1229	$1,550	$1.26	44d	1	0.63mi
1645 Woodland Ave SW Birmingham, AL	4.0	2.0	1298	$1,300	$1.00	19d	1	0.65mi
2329 30th Street Ensley Birmingham, AL	2.0	1.0	917	$990	$1.08	24d	1	0.65mi
2661 Bush Blvd Birmingham, AL	3.0	2.0	1024	$1,200	$1.17	44d	1	0.65mi
1800 Woodland Ave SW Birmingham, AL	4.0	1.0	1411	$1,195	$0.85	2d	1	0.68mi
1220 Alabama Ave SW Birmingham, AL	3.0	1.5	1175	$1,350	$1.15	44d	1	0.69mi
1720 Cullman Ave Unit 2 Birmingham, AL	3.0	1.0	1174	$899	$0.77	21d	1	0.69mi
1720 Cullman Ave Unit 3 Birmingham, AL	3.0	2.0	1174	$950	$0.81	44d	1	0.69mi
1108 4th Ct W Birmingham, AL	3.0	2.0	1623	$1,125	$0.69	3d	1	0.71mi
2356 22nd Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1500	$985	$0.66	24d	1	0.73mi
1213 Alabama Ave SW Birmingham, AL	4.0	2.0	1616	$1,200	$0.74	44d	1	0.73mi
3113 Pike Rd Birmingham, AL	3.0	2.0	1143	$1,275	$1.12	44d	1	0.75mi
1228 Fulton Ave SW Birmingham, AL	2.0	1.0	900	$800	$0.89	44d	1	0.76mi
2337 23rd Street Ensley Birmingham, AL	3.0	1.0	1446	$1,295	$0.90	44d	1	0.77mi
2213 25th Street Ensley Birmingham, AL	4.0	2.0	1197	$1,150	$0.96	10d	1	0.77mi
1642 Graymont Ave W Birmingham, AL	3.0	1.0	1219	$1,090	$0.89	3d	1	0.78mi
3017 Ensley Ave Birmingham, AL	3.0	1.0	1540	$1,400	$0.91	2d	1	0.78mi
504 Francis Pl SW Birmingham, AL	3.0	2.0	1816	$1,223	$0.67	24d	1	0.79mi
1217 Fulton Ave SW Birmingham, AL	4.0	2.0	1397	$1,395	$1.00	44d	1	0.81mi
2037 26th Street Ensley Birmingham, AL	3.0	1.0	1074	$995	$0.93	44d	1	0.82mi
405 11th St SW Unit B Birmingham, AL	2.0	1.0	1065	$800	$0.75	44d	1	0.82mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	2d	1	0.83mi
2108 25th Street Ensley Birmingham, AL	4.0	2.0	1446	$1,300	$0.90	44d	1	0.83mi
1501 Princeton Ave SW Birmingham, AL	3.0	2.0	1260	$1,350	$1.07	44d	1	0.85mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	44d	1	0.86mi
2426 Avenue U Unit U Birmingham, AL	3.0	2.0	1260	$1,175	$0.93	19d	1	0.89mi

Listing history 14 events

1. 2026-03-13
   listed $87,500 Active 263-char remark

   Show marketing remark (263 chars)

   This property is part of a 6-home single-family rental portfolio. Five homes are currently tenant occupied, with one unit in turnover, and all properties are professionally managed-offering investors the opportunity to acquire stabilized, income-producing assets.

2. 2025-05-22
   soldstatus $73,000
3. 2023-12-04
   soldstatus $70,000
4. 2023-11-30
   soldstatus $70,000 Sold 620-char remark

   Show marketing remark (620 chars)

   Take a look at this investment opportunity! Back on the market at no fault to the seller, this home has recently gone through inspection and appraisal! The possibilities and potential for these properties are endless. The property is tenant occupied, and showings and inspection will be scheduled after the accepted offer. Please do not disturb the tenants. The current rent for this property is $700/month. All properties are being sold As Is. This is an awesome opportunity to add to your portfolio, which includes cash-flowing properties! The MLS numbers of the 3 properties are as followed: 1357373, 1357379, 1357393

5. 2023-11-14
   historical Contingent 620-char remark

   Show marketing remark (620 chars)

   Take a look at this investment opportunity! Back on the market at no fault to the seller, this home has recently gone through inspection and appraisal! The possibilities and potential for these properties are endless. The property is tenant occupied, and showings and inspection will be scheduled after the accepted offer. Please do not disturb the tenants. The current rent for this property is $700/month. All properties are being sold As Is. This is an awesome opportunity to add to your portfolio, which includes cash-flowing properties! The MLS numbers of the 3 properties are as followed: 1357373, 1357379, 1357393

6. 2023-10-17
   status Active 620-char remark

   Show marketing remark (620 chars)

   Take a look at this investment opportunity! Back on the market at no fault to the seller, this home has recently gone through inspection and appraisal! The possibilities and potential for these properties are endless. The property is tenant occupied, and showings and inspection will be scheduled after the accepted offer. Please do not disturb the tenants. The current rent for this property is $700/month. All properties are being sold As Is. This is an awesome opportunity to add to your portfolio, which includes cash-flowing properties! The MLS numbers of the 3 properties are as followed: 1357373, 1357379, 1357393

7. 2023-08-10
   status Pending 620-char remark

   Show marketing remark (620 chars)

   Take a look at this investment opportunity! Back on the market at no fault to the seller, this home has recently gone through inspection and appraisal! The possibilities and potential for these properties are endless. The property is tenant occupied, and showings and inspection will be scheduled after the accepted offer. Please do not disturb the tenants. The current rent for this property is $700/month. All properties are being sold As Is. This is an awesome opportunity to add to your portfolio, which includes cash-flowing properties! The MLS numbers of the 3 properties are as followed: 1357373, 1357379, 1357393

8. 2023-07-11
   historical Contingent 620-char remark

   Show marketing remark (620 chars)

   Take a look at this investment opportunity! Back on the market at no fault to the seller, this home has recently gone through inspection and appraisal! The possibilities and potential for these properties are endless. The property is tenant occupied, and showings and inspection will be scheduled after the accepted offer. Please do not disturb the tenants. The current rent for this property is $700/month. All properties are being sold As Is. This is an awesome opportunity to add to your portfolio, which includes cash-flowing properties! The MLS numbers of the 3 properties are as followed: 1357373, 1357379, 1357393

9. 2023-06-19
   listed $71,285 Active 620-char remark

   Show marketing remark (620 chars)

   Take a look at this investment opportunity! Back on the market at no fault to the seller, this home has recently gone through inspection and appraisal! The possibilities and potential for these properties are endless. The property is tenant occupied, and showings and inspection will be scheduled after the accepted offer. Please do not disturb the tenants. The current rent for this property is $700/month. All properties are being sold As Is. This is an awesome opportunity to add to your portfolio, which includes cash-flowing properties! The MLS numbers of the 3 properties are as followed: 1357373, 1357379, 1357393

10. 2019-04-10
    soldstatus $336,234
11. 2019-03-14
    soldstatus $208,000
12. 2006-08-08
    soldstatus $45,000
13. 1999-04-14
    soldstatus $25,000
14. 1998-01-06
    soldstatus $12,000

ⓘ 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: $800 · $67/mo
• Projected year-2 tax: $800 · $67/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 ≥106°F today · 19 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: $14,705
• − Mortgage interest: −$4,901
• − Property taxes: −$800
• − Insurance: −$438
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$2,545
• Taxable income: $3,668
• Est. tax owed @ 24.0%: −$880
• After-tax cash flow: $3,993/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): 13,412
• Household income: $38,561
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 573.0

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 (94%)
• Race & ethnicity: Black 94% White 4% Hispanic / Latino 2% Two or more races 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% 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: ▼ -33.99%
• Current HPI: 153.414
• Rent YoY: ▲ 7.24%
• 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

+629.2% since first listed

14 events — show timeline

• 2026-03-13 Listed $87,500 Greater Alabama MLS
• 2025-05-22 Sold (Public Records) $73,000 Public Records
• 2023-12-04 Sold (Public Records) $70,000 Public Records
• 2023-11-30 Sold (MLS) $70,000 Greater Alabama MLS
• 2023-11-14 Contingent — Greater Alabama MLS
• 2023-10-17 Relisted — Greater Alabama MLS
• 2023-08-10 Pending — Greater Alabama MLS
• 2023-07-11 Contingent — Greater Alabama MLS
• 2023-06-19 Listed $71,285 Greater Alabama MLS
• 2019-04-10 Sold (Public Records) $336,234 Public Records
• 2019-03-14 Sold (Public Records) $208,000 Public Records
• 2006-08-08 Sold (Public Records) $45,000 Public Records
• 1999-04-14 Sold (Public Records) $25,000 Public Records
• 1998-01-06 Sold (Public Records) $12,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $800 · +0.0% YoY. Source: county tax records.