3924 37th Ave N · Birmingham, AL 35217

$69,900

3 bd · 1.0 ba · 1,070 sqft · SingleFamily public records · 6 Days on market

Built 1930 8,712 sqft lot $65/sqft · 46% above area Est $48k · 46% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.4/5.0
• 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

Darling framed style home with lots of charm. Roof installed 4 years ago. Central heating & air. Separate dining room. Large front porch and Large rooms. Spacious kitchen with lots of cabinets

Key facts

• Generous lot
• Inviting front porch
• Oversized kitchen

Tags

• OVERSIZED KITCHEN
• GENEROUS LOT
• INVITING FRONT PORCH
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 13.6% 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 (+3.6%/yr); 94 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 35% of the median local income ($40k/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 $483 of loan paydown is wiped out by about $2k 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 + 3.6% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $23k; list at $70k implies a 204% gain — meaningful room to come down on a strong offer.

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 $69,900

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.67% ✓
• Cap rate: 13.64%
• Cash-on-cash: 26.24%
• DSCR: 2.17
• GRM: 5.0

CMA / ARV

• ARV (median comp): $47,903
• List price: $69,900
• Delta: 56.57%
• 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
3840 35th Ave N	0.17mi	3/1.0	1,078 (+1%)	13mo	$25,000	$23	80
3413 38th Pl N	0.25mi	3/1.0	1,008 (-6%)	1mo	$30,000	$30	78
3929 41st Ave N	0.30mi	2/1.0 (-1)	1,120 (+5%)	2mo	$52,000	$46	72
4125 40th Ave N	0.30mi	3/2.0	1,144 (+7%)	4mo	$67,000	$59	67
4009 44th St N	0.57mi	3/1.0	1,064 (-1%)	9mo	$85,000	$80	65
4316 Gadsden St	0.55mi	2/1.0 (-1)	1,048 (-2%)	5mo	$50,000	$48	62
4232 42nd St N	0.50mi	3/2.0	1,092 (+2%)	11mo	$126,000	$115	60
4300 Pulaski St	0.66mi	2/1.0 (-1)	1,045 (-2%)	1mo	$45,000	$43	59
4125 43rd Ave N	0.47mi	2/1.0 (-1)	981 (-8%)	4mo	$28,000	$29	56
4021 43rd Ave N	0.43mi	2/1.0 (-1)	1,150 (+8%)	10mo	$18,000	$16	55
4421 43rd St N	0.69mi	3/1.0	1,200 (+12%)	4mo	$42,000	$35	44
4344 N 44th Ave	0.70mi	4/1.0 (+1)	1,018 (-5%)	13mo	$108,000	$106	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 · 3.58% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 1.85×
• Total profit: $16,640
• Equity at exit: $10,422

10-year hold

• IRR: 29.3%
• Equity multiple: 3.68×
• Total profit: $52,524
• Equity at exit: $6,044

Cash invested: $19,572 (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 35217

• Rents YoY: 3.6%
• Active inventory: 94
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,165 high
• Mortgage (P&I): −$367
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $428

Break-even live

Break-even rent $623

Max offer price $69,900

Occupancy floor 58%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4028 40th Ave N Birmingham, AL	3.0	1.0	1186	$950	$0.80	43d	1	0.28mi
4236 39th Ave N Birmingham, AL	3.0	2.0	1000	$1,195	$1.20	23d	1	0.44mi
4231 40th Ave N Birmingham, AL	3.0	1.0	1272	$850	$0.67	19d	1	0.45mi
4220 40th Ct N Birmingham, AL	3.0	1.0	948	$1,200	$1.27	43d	1	0.47mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	23d	1	0.48mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	43d	1	0.48mi
4217 43rd Ave N Birmingham, AL	3.0	1.0	1140	$1,200	$1.05	3d	1	0.55mi
4244 Jackson St Birmingham, AL	3.0	1.0	858	$1,100	$1.28	43d	1	0.58mi
4317 41st Ave N Birmingham, AL	3.0	1.0	864	$1,000	$1.16	43d	1	0.58mi
4316 Gadsden St Birmingham, AL	2.0	1.0	1048	$1,100	$1.05	3d	1	0.58mi
4301 Greenwood St Birmingham, AL	3.0	1.0	1140	$1,025	$0.90	3d	1	0.67mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	14d	1	0.73mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	43d	1	0.73mi
1303 Main St Birmingham, AL	4.0	2.0	1432	$1,300	$0.91	43d	1	0.73mi
4549 40th Pl N Birmingham, AL	2.0	1.0	728	$850	$1.17	43d	1	0.75mi
4329 Pulaski St Birmingham, AL	3.0	2.0	1240	$1,353	$1.09	23d	1	0.77mi
3708 42nd Ave N Birmingham, AL	3.0	1.0	876	$950	$1.08	43d	1	0.77mi
4344 Pulaski St Birmingham, AL	3.0	1.0	1268	$1,050	$0.83	43d	1	0.78mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	3d	1	0.80mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	43d	1	0.80mi
1316 Spring St Birmingham, AL	2.0	1.0	920	$1,195	$1.30	3d	1	0.83mi
3376 34th Ave N Birmingham, AL	3.0	2.0	928	$1,200	$1.29	3d	1	0.90mi
1217 43rd St N Birmingham, AL	2.0	1.0	750	$850	$1.13	43d	1	1.00mi
4513 13th Ave N Birmingham, AL	2.0	2.0	778	$1,175	$1.51	23d	1	1.02mi
4101 50th Ave N Unit B Birmingham, AL	2.0	1.0	850	$900	$1.06	43d	1	1.03mi
732 Fulton Ave Birmingham, AL	4.0	2.0	1320	$1,450	$1.10	43d	1	1.04mi
4208 50th Ave N Birmingham, AL	3.0	1.0	1104	$1,200	$1.09	43d	1	1.05mi
4925 43rd Way N Birmingham, AL	3.0	2.0	1232	$1,461	$1.19	1d	1	1.07mi
3376 34th St N Birmingham, AL	3.0	2.0	928	$1,200	$1.29	23d	1	1.07mi
3376 34th St N Birmingham, AL	3.0	1.0	928	$1,200	$1.29	11d	1	1.07mi
5015 42nd Pl N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	43d	1	1.10mi
3373 33rd Pl N Birmingham, AL	3.0	1.0	912	$1,150	$1.26	3d	1	1.11mi
1117 42nd Pl N Birmingham, AL	3.0	1.0	1026	$900	$0.88	43d	1	1.12mi
5025 43rd Pl N Birmingham, AL	4.0	2.0	1017	$1,300	$1.28	43d	1	1.16mi
1017 Cahaba St Birmingham, AL	2.0	2.0	1035	$1,350	$1.30	3d	1	1.16mi
3920 11th Ave N Birmingham, AL	3.0	2.0	1200	$1,025	$0.85	2d	1	1.17mi
1601 48th St N Birmingham, AL	3.0	1.0	1313	$1,200	$0.91	23d	1	1.19mi
1101 47th St N Birmingham, AL	3.0	2.0	1296	$1,200	$0.93	23d	1	1.25mi
1045 Waverly St Birmingham, AL	3.0	1.0	1014	$1,000	$0.99	43d	1	1.27mi
1224 Maple St Birmingham, AL	2.0	1.0	812	$690	$0.85	19d	1	1.31mi

Listing history 13 events

1. 2026-06-18
   days on market $69,900 Active 6 DOM
2. 2026-06-17
   days on market $69,900 Active 5 DOM
3. 2026-06-16
   days on market $69,900 Active 4 DOM
4. 2026-06-15
   days on market $69,900 Active 3 DOM
5. 2026-06-13
   pricestatusdays on marketlisting id $69,900 Active 1 DOM
6. 2026-03-14
   price $75,000
7. 2022-08-27
   price $995
8. 2018-07-27
   soldstatus $23,000 Sold 198-char remark

   Show marketing remark (198 chars)

   Darling framed style home with lots of charm. Roof installed 4 years ago. Central heating & air. Separate dining room. Large front porch and Large rooms. Spacious kitchen with lots of cabinets

9. 2018-06-22
   historical 198-char remark

   Show marketing remark (198 chars)

   Darling framed style home with lots of charm. Roof installed 4 years ago. Central heating & air. Separate dining room. Large front porch and Large rooms. Spacious kitchen with lots of cabinets

10. 2018-04-12
    listed $25,000 Active 198-char remark

    Show marketing remark (198 chars)

    Darling framed style home with lots of charm. Roof installed 4 years ago. Central heating & air. Separate dining room. Large front porch and Large rooms. Spacious kitchen with lots of cabinets

11. 2017-07-12
    price $24,500
12. 2016-11-07
    price $34,900
13. 2000-10-27
    soldstatus $30,000

ⓘ 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: $1,159 · $97/mo
• Projected year-2 tax: $1,159 · $97/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 6/10 Major 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 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,978
• − Mortgage interest: −$3,915
• − Property taxes: −$1,159
• − Insurance: −$350
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$2,033
• Taxable income: $4,285
• Est. tax owed @ 24.0%: −$1,028
• After-tax cash flow: $4,108/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): 12,240
• Household income: $40,486
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 594.0

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 0.58)
• Race & ethnicity: Black 57% White 27% Hispanic / Latino 14% Two or more races 6%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 7% · Canada, Guatemala
• Languages at home: 86% English-only · Spanish 13%

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: ▼ -74.54%
• Current HPI: 117.416
• Rent YoY: ▲ 3.58%
• 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

+150.0% since first listed

8 events — show timeline

• 2026-03-14 Price Changed $75,000 Greater Alabama MLS
• 2022-08-27 Price Changed $995 RENT.
• 2018-07-27 Sold (MLS) $23,000 Greater Alabama MLS
• 2018-06-22 Delisted — Greater Alabama MLS
• 2018-04-12 Listed $25,000 Greater Alabama MLS
• 2017-07-12 Price Changed $24,500 Greater Alabama MLS
• 2016-11-07 Price Changed $34,900 Greater Alabama MLS
• 2000-10-27 Sold (Public Records) $30,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $1,159 · +0.0% YoY. Source: county tax records.