400 Pratt Hwy · Birmingham, AL 35214

$105,000

3 bd · 1.0 ba · 1,410 sqft · SingleFamily public records · 34 Days on market

Built 1940 8,712 sqft lot $74/sqft · 12% above area Est $94k · 12% over

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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 +27.5/30.0
• DSCR +9.7/10.0
• 1% rule +7.0/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very well maintained and clean 3 bedroom, 2 bath home. You will love the Master Bedroom with walk in closet. HVAC is less than 2 years old. Water heater is about a year old. Roof is approximately 11 years old. Washer and Dryer remain. This is a good house. Don't miss it.

Key facts

• Recent updates
• Front porch
• Back deck

Tags

• DRIVEWAY PARKING
• FRONT PORCH
• BACK DECK
• RECENT UPDATES

Property features AI

Exterior

• Parking: Driveway parking
• Utilities: Public water; Connected sewer; Gas water heater; Internet service available
• Home design: Existing construction; Siding vinyl exterior; Crawl space foundation; Property in Pratt City subdivision; Lot approximately 0.2 acres
• Construction: Vinyl siding; Crawl space foundation; Covered deck
• Exterior features: Covered deck; Storage building; No pool, patio, or garden listed; Not waterfront

Interior

• Kitchen: Laminate countertops; Dishwasher (built-in); Gas stove
• Bedrooms: Master bedroom on main level; Additional bedrooms on main level; Walk-in closets
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Central heating (gas); Central electric cooling
• Interior features: Carpet and vinyl floors; Ceilings: other (see remarks); No additional built-in interior features listed
• Laundry & utility: Laundry on the main level; Washer hookup; Electric dryer hookup; Laundry located in a closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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.
• 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.
• Zoned schools: South Hampton K8 (math 4% / reading 22%, grade F, #532 of 627 statewide, top 85%, 513 students, 86% FRL) — zoned schools at 86% FRL track the district average.
• Market conditions: Rents flat; 116 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $726 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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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 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: 1.20% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.70%
• DSCR: 1.57
• GRM: 7.0

CMA / ARV

• ARV (median comp): $93,846
• List price: $105,000
• Delta: 11.89%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 Pratt Hwy	0.03mi	3/1.0	1,414 (+0%)	10mo	$109,000	$77	90
3 Holt Ave	0.09mi	3/2.5	1,265 (-10%)	8mo	$154,000	$122	66
544 Perry St	0.55mi	3/1.0	1,388 (-2%)	10mo	$83,000	$60	63
17 Holt Ave	0.03mi	3/2.0	1,212 (-14%)	14mo	$144,500	$119	60
224 Bayberry Rd	0.42mi	3/2.0	1,376 (-2%)	22mo	$115,000	$84	54
228 Bayberry Rd	0.42mi	4/1.5 (+1)	1,278 (-9%)	19mo	$89,900	$70	42
1024 Heflin Ave	0.74mi	3/2.0	1,275 (-10%)	5mo	$166,000	$130	41
524 Piedmont Ave	0.40mi	3/1.0	1,204 (-15%)	22mo	$91,500	$76	39
908 Piedmont Ave	0.65mi	2/1.0 (-1)	1,617 (+15%)	12mo	$64,900	$40	30

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $1
• Equity at exit: $15,656

10-year hold

• IRR: 7.3%
• Equity multiple: 1.49×
• Total profit: $14,530
• Equity at exit: $9,078

Cash invested: $29,400 (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 35214

• Home prices YoY: -20.0%
• Rents YoY: 0.7%
• Active inventory: 116
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$551
• Tax from tax record: −$87 /mo · $1,041/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $311

Break-even live

Break-even rent $862

Max offer price $105,000

Occupancy floor 70%

Sensitivity live

Price	-10% $371	-5% $341	+0% $311	+5% $281	+10% $252
Rent	-10% $212	-5% $262	+0% $311	+5% $361	+10% $410
Rate	-1.0pp $364	-0.5pp $338	base $311	+0.5pp $284	+1.0pp $256

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
436 Henry St Birmingham, AL	3.0	2.0	1159	$1,090	$0.94	44d	1	0.11mi
629 Lanett Ave Birmingham, AL	3.0	1.0	1092	$1,200	$1.10	44d	1	0.23mi
617 Ozark Ct Birmingham, AL	3.0	2.0	1242	$1,195	$0.96	4d	1	0.37mi
528 Lamplighter Ln Birmingham, AL	3.0	1.0	1114	$1,220	$1.10	4d	1	0.38mi
225 Bayberry Rd Birmingham, AL	3.0	1.0	1496	$1,261	$0.84	20d	1	0.47mi
1137 Pratt Hwy Birmingham, AL	3.0	1.0	993	$1,045	$1.05	2d	1	0.88mi
1143 Oakley Dr Birmingham, AL	3.0	1.0	1066	$1,300	$1.22	44d	1	0.90mi
1147 Oakley Dr Birmingham, AL	3.0	1.0	1352	$1,250	$0.92	44d	1	0.91mi
1204 Pratt Hwy Birmingham, AL	3.0	1.0	1124	$1,125	$1.00	17d	1	0.92mi
204 5th Way Birmingham, AL	3.0	1.5	1051	$1,100	$1.05	22d	1	0.97mi
120 Dewberry Ln Birmingham, AL	3.0	2.0	1485	$1,510	$1.02	20d	1	1.04mi
604 5th Way Birmingham, AL	2.0	2.0	1513	$1,000	$0.66	44d	1	1.16mi
315 Avenue U Birmingham, AL	3.0	1.0	1088	$1,200	$1.10	3d	1	1.16mi
305 Rose Hill Rd Birmingham, AL	3.0	1.5	1285	$1,200	$0.93	11d	1	1.16mi
115 Crabapple Ln Birmingham, AL	1.0–3.0	1.0–2.0	906	$1,027	$1.13	12d	19	1.19mi
1344 Pratt Hwy Birmingham, AL	3.0	2.0	936	$980	$1.05	44d	1	1.25mi
1208 2nd St Birmingham, AL	3.0	2.0	1506	$1,050	$0.70	44d	1	1.29mi
905 Lynndale Ln Birmingham, AL	4.0	2.0	1625	$1,550	$0.95	2d	1	1.30mi
161 Cindy Ln Birmingham, AL	3.0	2.0	1388	$1,425	$1.03	24d	1	1.34mi
408 Miles Ave Birmingham, AL	3.0	2.0	1377	$1,050	$0.76	22d	1	1.38mi
1425 Hibernian St Birmingham, AL	3.0	1.0	1152	$1,200	$1.04	24d	1	1.43mi
213 Beech Ave Birmingham, AL	3.0	1.0	1288	$1,000	$0.78	20d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $105,000 Active 34 DOM
2. 2026-06-17
   days on market $105,000 Active 33 DOM
3. 2026-06-16
   days on market $105,000 Active 32 DOM
4. 2026-06-15
   days on market $105,000 Active 31 DOM
5. 2026-06-13
   days on market $105,000 Active 29 DOM
6. 2026-06-10
   days on market $105,000 Active 26 DOM
7. 2026-06-09
   days on market $105,000 Active 25 DOM
8. 2026-06-08
   pricedays on market $105,000 Active 24 DOM
9. 2026-06-07
   days on market $115,000 Active 23 DOM
10. 2026-06-03
    days on market $115,000 Active 19 DOM
11. 2026-06-02
    days on market $115,000 Active 18 DOM
12. 2026-06-01
    days on market $115,000 Active 17 DOM
13. 2026-05-31
    days on market $115,000 Active 16 DOM
14. 2026-05-15
    listed $115,000 Active 953-char remark
15. 2023-01-26
    soldstatus $85,000 Sold 271-char remark

    Show marketing remark (271 chars)

    Very well maintained and clean 3 bedroom, 2 bath home. You will love the Master Bedroom with walk in closet. HVAC is less than 2 years old. Water heater is about a year old. Roof is approximately 11 years old. Washer and Dryer remain. This is a good house. Don't miss it.

16. 2022-12-29
    historical Contingent 271-char remark

    Show marketing remark (271 chars)

    Very well maintained and clean 3 bedroom, 2 bath home. You will love the Master Bedroom with walk in closet. HVAC is less than 2 years old. Water heater is about a year old. Roof is approximately 11 years old. Washer and Dryer remain. This is a good house. Don't miss it.

17. 2022-12-16
    listed $92,500 Active 271-char remark

    Show marketing remark (271 chars)

    Very well maintained and clean 3 bedroom, 2 bath home. You will love the Master Bedroom with walk in closet. HVAC is less than 2 years old. Water heater is about a year old. Roof is approximately 11 years old. Washer and Dryer remain. This is a good house. Don't miss it.

18. 1983-08-01
    soldstatus $18,000

ⓘ 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: $1,041 · $87/mo
• Projected year-2 tax: $1,041 · $87/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 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,073
• − Mortgage interest: −$5,882
• − Property taxes: −$1,041
• − Insurance: −$525
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$3,055
• Taxable income: $2,159
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $3,216/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): 17,027
• Household income: $56,383
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 578.0

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 (77%)
• Race & ethnicity: Black 77% White 18% Two or more races 2%
• 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: ▼ -54.48%
• Current HPI: 218.5233
• Rent YoY: ▲ 0.74%
• 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

+483.3% since first listed

6 events — show timeline

• 2026-06-08 Price Changed $105,000 Greater Alabama MLS
• 2026-05-15 Listed $115,000 Greater Alabama MLS
• 2023-01-26 Sold (MLS) $85,000 Greater Alabama MLS
• 2022-12-29 Contingent — Greater Alabama MLS
• 2022-12-16 Listed $92,500 Greater Alabama MLS
• 1983-08-01 Sold (Public Records) $18,000 Public Records

Property tax history

+0.0%/yr

Latest (2025): $1,041 · +0.0% YoY. Source: county tax records.