467 Toadvine Cemetery Rd · Birmingham, AL 35023

$138,900

3 bd · 2.0 ba · 1,216 sqft · Land · 88 Days on market

Built 2019 1.01 ac lot

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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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Appreciation +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Price Reduced Motivated Seller! Back one the market at no fault of the seller. Appraisal and Structural Engineer inspection completed for previous buyer and all came back good. Buyer just got cold feet. Oak Grove Schools! 1 acre of land and plenty of room to roam and play on this spacious lot. 3 bedroom 2 bath home with an eat in kitchen and breakfast bar. There is a sizeable living room big enough for a sectional couch. Spacious master bedroom and updated master bath with a walk in shower, walk in closet and sink/vanity.

Key facts

• Updated master bath
• Eat in kitchen
• Sizeable living room

Tags

• 1 ACRE OF LAND
• EAT IN KITCHEN
• BREAKFAST BAR
• SIZEABLE LIVING ROOM
• UPDATED MASTER BATH
• WALK IN SHOWER

Property features AI

Finance

• Other: Fire fee and garbage fee apply
• Financial info: Has down payment assistance; Fire fee billed yearly; Garbage fee billed quarterly
• HOA & community: No association fee

Exterior

• Parking: Driveway parking
• Utilities: Public water; Septic system; Electric water heater; Internet service available
• Home design: Existing home; One-story layout (all main level rooms listed)
• Construction: One-side brick and vinyl siding exterior; Pillars/support foundation
• Exterior features: Porch; Open deck; Storage building; No pool; No patio; Not on waterfront; Property accessed via public road; Lot does not have a notable view; Not in flood plain

Interior

• Kitchen: Dishwasher (built-in); Electric oven; Electric stove; Refrigerator; Laminate countertops; Breakfast bar; Eating area; Pantry
• Bedrooms: Master bedroom on main level; Two additional bedrooms on main level
• Flooring: Vinyl
• Bathrooms: Master bath (main level); Full bath with tub/shower combo; Separate shower
• Heating & cooling: Central heating; Central air
• Interior features: Vinyl floors; Ceiling details listed in remarks; Window treatments remain
• Laundry & utility: Laundry on main level; Washer hookup; Electric dryer hookup; Laundry located in a closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $139k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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-, crime F, employment 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: Oak Grove Elementary School (math 27% / reading 47%, grade F, #267 of 627 statewide, top 45%, 570 students, 53% FRL); Oak Grove High School (math 7% / reading 29%, grade F, #187 of 305 statewide, top 62%, 744 students, 53% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 255 active listings in the ZIP; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).

Forward outlook

• In year one you build about $127 of equity ($960 loan paydown + $-833 appreciation (-0.6% local appreciation)).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 1.6% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $130,565 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.06% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.77%
• DSCR: 1.43
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.6% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.26×
• Total profit: $10,143
• Equity at exit: $36,215

10-year hold

• IRR: 10.6%
• Equity multiple: 2.04×
• Total profit: $40,410
• Equity at exit: $40,369

Cash invested: $38,892 (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 35023

• Home prices YoY: -0.1%
• Rents YoY: 1.6%
• Active inventory: 255
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,475 medium
• Mortgage (P&I): −$728
• Tax from tax record: −$62 /mo · $746/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $317

Break-even live

Break-even rent $1,074

Max offer price $138,900

Occupancy floor 74%

Sensitivity live

Price	-10% $395	-5% $356	+0% $317	+5% $277	+10% $238
Rent	-10% $200	-5% $258	+0% $317	+5% $375	+10% $433
Rate	-1.0pp $387	-0.5pp $352	base $317	+0.5pp $281	+1.0pp $244

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: $34,725
• Closing costs: $4,167
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-22
   days on market $138,900 Active 88 DOM
2. 2026-06-18
   days on market $138,900 Active 85 DOM
3. 2026-06-17
   days on market $138,900 Active 84 DOM
4. 2026-06-16
   days on market $138,900 Active 83 DOM
5. 2026-06-15
   days on market $138,900 Active 82 DOM
6. 2026-06-13
   remarks 529-char remark
7. 2026-06-13
   pricedays on market $138,900 Active 80 DOM
8. 2026-06-10
   days on market $139,900 Active 77 DOM
9. 2026-06-09
   days on market $139,900 Active 76 DOM
10. 2026-06-08
    days on market $139,900 Active 75 DOM
11. 2026-06-07
    days on market $139,900 Active 74 DOM
12. 2026-06-03
    days on market $139,900 Active 70 DOM
13. 2026-06-02
    days on market $139,900 Active 69 DOM
14. 2026-06-01
    days on market $139,900 Active 68 DOM
15. 2026-05-31
    days on market $139,900 Active 67 DOM
16. 2026-05-22
    price $155,000
17. 2026-05-22
    status Active
18. 2026-04-06
    historical Contingent
19. 2026-03-25
    listed $139,900 Active
20. 2023-06-08
    soldstatus $30,773,903
21. 2017-12-22
    soldstatus $27,990,500

ⓘ 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: $746 · $62/mo
• Projected year-2 tax: $746 · $62/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,699
• − Mortgage interest: −$7,781
• − Property taxes: −$746
• − Insurance: −$694
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$4,041
• Taxable income: $1,605
• Est. tax owed @ 24.0%: −$385
• After-tax cash flow: $3,415/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 — 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

• County: Jefferson County · 527,445 people
• City population: 210,422
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 25,533
• Household income: $69,863
• Rent vs Own: 15.1% rent · 84.9% own
• Severe rent burden: 247.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 58% Black 30% Hispanic / Latino 7% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 7%

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: ▼ -0.60%
• Current HPI: 389.38
• Rent YoY: ▲ 1.60%
• 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

-99.4% since first listed

6 events — show timeline

• 2026-05-22 Price Changed $155,000 Greater Alabama MLS
• 2026-05-22 Relisted — Greater Alabama MLS
• 2026-04-06 Contingent — Greater Alabama MLS
• 2026-03-25 Listed $139,900 Greater Alabama MLS
• 2023-06-08 Sold (Public Records) $30,773,903 Public Records
• 2017-12-22 Sold (Public Records) $27,990,500 Public Records

Property tax history

-0.2%/yr

Latest (2025): $746 · -47.7% YoY. Source: county tax records.