5409 Richardson Ave · Irondale, AL 35210

$237,000

3 bd · 2.0 ba · 2,000 sqft · SingleFamily public records · 43 Days on market

Built 1965 0.25 ac lot $118/sqft · 32% below area Est $350k · 32% under

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice one level home that has been fully updated. Recent updates include new energy efficient windows and new counter tops, new kitchen appliances, heat and air, fresh paint, electrical, two new decks, new vanities, tiled bathrooms and more. This home features four bedrooms and two full bathrooms. This home has recently been bricked and has great curb appeal. This home is all electric. Engineered septic system. The property is at the end of a cul de sac street with 1,000 +/- acres of undeveloped land across the street. Owner financing is available.

Key facts

• 0.25 acre lot
• Built 1965
• Listed 43 days

Property features AI

Finance

• Other: Property located in Irondale subdivision; Approximately 0.25 acre lot

Exterior

• Parking: Assigned parking
• Utilities: Public water; Septic sewer; Internet service available
• Home design: 4-side brick construction; Basement foundation; Existing home; Not waterfront; Not a log home; Historic register listed
• Construction: 4-side brick exterior; Basement foundation
• Exterior features: Open porch; Open deck

Interior

• Kitchen: Laminate countertops; Electric stove
• Bedrooms: Bedroom on main level
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms; Garden tub
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Smooth ceilings; Full finished daylight basement with concrete block construction; Pull-down attic
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $237k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/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 $220k (7.1% below list).
• Recommended offer: $220k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 5.2% in Irondale — 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 74/100 on livability (#23 in AL, #4,921 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities 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.
• Zoned schools: Irondale Community School (math 6% / reading 32%, grade F, #478 of 627 statewide, top 76%, 450 students, 50% FRL); Shades Valley High School (math 29% / reading 39%, grade F, #53 of 305 statewide, top 18%, 1,200 students, 68% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 81 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).
• This rent runs 36% of the median local income ($73k/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 $2k of loan paydown is wiped out by about $7k 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 43 days — a 3% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $13k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $220,271 (7.1% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.69%
• DSCR: 1.25
• GRM: 9.0

CMA / ARV

• ARV (median comp): $349,747
• List price: $237,000
• Delta: -32.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1017 Karl Daly Cir	0.20mi	3/2.0	1,768 (-12%)	13mo	$280,000	$158	60
918 Roywood Rd	0.35mi	3/2.0	1,842 (-8%)	13mo	$420,000	$228	60
3272 Hoot Owl Ln	0.30mi	3/2.0	2,213 (+11%)	17mo	$330,000	$149	54
1119 Saddlebrook Rd	0.61mi	4/2.0 (+1)	2,226 (+11%)	4mo	$345,000	$155	44

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 · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-15,802
• Equity at exit: $35,337

10-year hold

• IRR: 4.5%
• Equity multiple: 1.34×
• Total profit: $22,788
• Equity at exit: $20,491

Cash invested: $66,360 (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 35210

• Home prices YoY: -32.2%
• Rents YoY: 4.2%
• Active inventory: 81
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,203 medium
• Mortgage (P&I): −$1,243
• Tax from tax record: −$84 /mo · $1,004/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $315

Break-even live

Break-even rent $1,804

Max offer price $237,000

Occupancy floor 81%

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: $59,250
• Closing costs: $7,110
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4267 Brevard Blvd Birmingham, AL	3.0	2.5	1486	$2,595	$1.75	23d	1	1.46mi

Listing history 25 events

1. 2026-06-19
   price $237,000 Active 43 DOM
2. 2026-06-18
   days on market $239,000 Active 43 DOM
3. 2026-06-17
   days on market $239,000 Active 42 DOM
4. 2026-06-16
   days on market $239,000 Active 41 DOM
5. 2026-06-15
   days on market $239,000 Active 40 DOM
6. 2026-06-13
   days on market $239,000 Active 38 DOM
7. 2026-06-10
   days on market $239,000 Active 35 DOM
8. 2026-06-09
   days on market $239,000 Active 34 DOM
9. 2026-06-08
   days on market $239,000 Active 33 DOM
10. 2026-06-07
    pricedays on market $239,000 Active 32 DOM
11. 2026-06-03
    days on market $240,000 Active 28 DOM
12. 2026-06-02
    days on market $240,000 Active 27 DOM
13. 2026-06-01
    days on market $240,000 Active 26 DOM
14. 2026-05-31
    days on market $240,000 Active 25 DOM
15. 2026-05-06
    listed $250,000 Active 432-char remark
16. 2023-06-09
    soldstatus $170,000
17. 2023-06-07
    soldstatus $170,000 Sold 553-char remark

    Show marketing remark (553 chars)

    Nice one level home that has been fully updated. Recent updates include new energy efficient windows and new counter tops, new kitchen appliances, heat and air, fresh paint, electrical, two new decks, new vanities, tiled bathrooms and more. This home features four bedrooms and two full bathrooms. This home has recently been bricked and has great curb appeal. This home is all electric. Engineered septic system. The property is at the end of a cul de sac street with 1,000 +/- acres of undeveloped land across the street. Owner financing is available.

18. 2023-06-01
    status Pending 553-char remark

    Show marketing remark (553 chars)

    Nice one level home that has been fully updated. Recent updates include new energy efficient windows and new counter tops, new kitchen appliances, heat and air, fresh paint, electrical, two new decks, new vanities, tiled bathrooms and more. This home features four bedrooms and two full bathrooms. This home has recently been bricked and has great curb appeal. This home is all electric. Engineered septic system. The property is at the end of a cul de sac street with 1,000 +/- acres of undeveloped land across the street. Owner financing is available.

19. 2023-04-25
    price $199,000 553-char remark

    Show marketing remark (553 chars)

    Nice one level home that has been fully updated. Recent updates include new energy efficient windows and new counter tops, new kitchen appliances, heat and air, fresh paint, electrical, two new decks, new vanities, tiled bathrooms and more. This home features four bedrooms and two full bathrooms. This home has recently been bricked and has great curb appeal. This home is all electric. Engineered septic system. The property is at the end of a cul de sac street with 1,000 +/- acres of undeveloped land across the street. Owner financing is available.

20. 2023-03-10
    price $229,000 553-char remark

    Show marketing remark (553 chars)

    Nice one level home that has been fully updated. Recent updates include new energy efficient windows and new counter tops, new kitchen appliances, heat and air, fresh paint, electrical, two new decks, new vanities, tiled bathrooms and more. This home features four bedrooms and two full bathrooms. This home has recently been bricked and has great curb appeal. This home is all electric. Engineered septic system. The property is at the end of a cul de sac street with 1,000 +/- acres of undeveloped land across the street. Owner financing is available.

21. 2023-03-03
    listed $239,900 Active 553-char remark

    Show marketing remark (553 chars)

    Nice one level home that has been fully updated. Recent updates include new energy efficient windows and new counter tops, new kitchen appliances, heat and air, fresh paint, electrical, two new decks, new vanities, tiled bathrooms and more. This home features four bedrooms and two full bathrooms. This home has recently been bricked and has great curb appeal. This home is all electric. Engineered septic system. The property is at the end of a cul de sac street with 1,000 +/- acres of undeveloped land across the street. Owner financing is available.

22. 2023-03-01
    historical $239,900 553-char remark

    Show marketing remark (553 chars)

    Nice one level home that has been fully updated. Recent updates include new energy efficient windows and new counter tops, new kitchen appliances, heat and air, fresh paint, electrical, two new decks, new vanities, tiled bathrooms and more. This home features four bedrooms and two full bathrooms. This home has recently been bricked and has great curb appeal. This home is all electric. Engineered septic system. The property is at the end of a cul de sac street with 1,000 +/- acres of undeveloped land across the street. Owner financing is available.

23. 2022-09-01
    price $140,000
24. 2022-07-22
    price $148,000
25. 1994-02-28
    soldstatus $24,000

ⓘ 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: $1,004 · $84/mo
• Projected year-2 tax: $1,004 · $84/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 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,433
• − Mortgage interest: −$13,276
• − Property taxes: −$1,004
• − Insurance: −$1,185
• − Repairs & maintenance: −$2,115
• − Management: −$2,115
• − Depreciation: −$6,895
• Taxable loss: −$156
• Est. tax savings @ 24.0%: +$37
• After-tax cash flow: $3,816/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 — Irondale

• Score: 74/100
• State rank: #23
• US rank: #4921

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irondale, AL
• County: Jefferson County · 527,445 people
• City population: 13,775
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 13,775
• Household income: $73,061
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 379.0

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: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Arabic 1% Russian/Polish/Slavic 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: ▼ -109.03%
• Current HPI: 230.033
• Rent YoY: ▲ 4.18%
• 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

+895.8% since first listed

14 events — show timeline

• 2026-06-05 Price Changed $239,000 Greater Alabama MLS
• 2026-05-27 Price Changed $240,000 Greater Alabama MLS
• 2026-05-19 Price Changed $249,000 Greater Alabama MLS
• 2026-05-06 Listed $250,000 Greater Alabama MLS
• 2023-06-09 Sold (Public Records) $170,000 Public Records
• 2023-06-07 Sold (MLS) $170,000 Greater Alabama MLS
• 2023-06-01 Pending — Greater Alabama MLS
• 2023-04-25 Price Changed $199,000 Greater Alabama MLS
• 2023-03-10 Price Changed $229,000 Greater Alabama MLS
• 2023-03-03 Listed $239,900 Greater Alabama MLS
• 2023-03-01 Coming Soon $239,900 Greater Alabama MLS
• 2022-09-01 Price Changed $140,000 Greater Alabama MLS
• 2022-07-22 Price Changed $148,000 Greater Alabama MLS
• 1994-02-28 Sold (Public Records) $24,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,004 · +0.0% YoY. Source: county tax records.