1045 Waverly St · Tarrant, AL 35217

$109,900

3 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 9 Days on market

Built 1961 0.30 ac lot Est $75k · 46% over

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Why this score? — see what drove the D+ 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 +24.2/30.0
• DSCR +7.8/10.0
• 1% rule +5.3/10.0
• Rent growth +3.4/5.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained and move-in ready, this low-maintenance home offers fresh updates. Inside, you’ll find brand-new luxury vinyl plank flooring and fresh paint throughout. The HVAC system is only a few years old, giving you peace of mind for years to come. Situated on a corner lot with a spacious backyard, this property offers plenty of room to enjoy. Previously used as a rental, it’s a strong investment opportunity—at the list price, it’s set to surpass the 1% rule while continuing to appreciate. The heavy lifting has already been done—now it’s time to make the most of this property.

Key facts

• 0.3 acre lot
• Built 1961
• Listed 9 days

Property features AI

Finance

• Other: Property is in the Oak Park subdivision; Lot size approximately 0.3 acres

Exterior

• Parking: Assigned parking
• Utilities: Public water; Connected sewer; Electric water heater; Internet service available
• Home design: Existing construction; One-story layout (rooms located on main level)
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: No waterfront; No pool; No patio; No garden/patio; No decks

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Three bedrooms, all on the main level
• Flooring: Hardwood laminate
• Bathrooms: One full bathroom with tub/shower combo, on the main level
• Heating & cooling: Central heating; Central cooling
• Interior features: Hardwood laminate floors; Ceilings: Other (see remarks); No additional interior features listed
• Laundry & utility: Main-level laundry with washer hookup and electric dryer hookup; Washer hookup provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.7% vs local median 11.0% in Tarrant — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 51/100 on livability (#507 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Tarrant City (suburban): math 4% / reading 17% proficiency, ranked #121 of 129 in AL (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tarrant Elementary School (310 students, 85% FRL); Tarrant High School (math 3% / reading 16%, grade F, #258 of 305 statewide, top 85%, 559 students, 84% FRL) — zoned schools at 85% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 94 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 34% 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 $760 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $77k; 43% 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 $109,900

Questions for the listing agent

1. Built in 1961 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.03% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.59%
• DSCR: 1.38
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $75,036
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1045 Waverly St	0.00mi	3/1.0	1,014 (0%)	9mo	$65,000	$64	93
1021 Green St	0.35mi	2/1.0 (-1)	1,015 (+0%)	11mo	$75,000	$74	70
817 Jackson Blvd	0.70mi	3/1.0	1,025 (+1%)	1mo	$114,429	$112	64
4208 50th Ave N	0.35mi	3/1.0	1,104 (+9%)	7mo	$67,500	$61	63
1812 Damon Cir	0.66mi	3/1.0	1,056 (+4%)	1mo	$60,000	$57	62
1233 Forest St	0.26mi	3/1.0	864 (-15%)	2mo	$66,625	$77	62
1901 Hoke Ave	0.56mi	3/1.0	1,109 (+9%)	1mo	$56,000	$50	58
2009 Day Ave	0.64mi	3/1.0	1,034 (+2%)	11mo	$123,000	$119	58
1128 Cooper St	0.42mi	3/2.0	912 (-10%)	8mo	$142,500	$156	52
1704 Hatchet Ave	0.41mi	2/1.5 (-1)	1,152 (+14%)	3mo	$65,000	$56	49
725 Fulton Ave	0.72mi	3/1.0	1,110 (+10%)	5mo	$80,050	$72	46
4232 42nd St N	0.74mi	3/2.0	1,092 (+8%)	11mo	$126,000	$115	39

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-3,156
• Equity at exit: $16,386

10-year hold

• IRR: 7.5%
• Equity multiple: 1.58×
• Total profit: $17,923
• Equity at exit: $9,502

Cash invested: $30,772 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,131 high
• Mortgage (P&I): −$576
• Tax from tax record: −$51 /mo · $617/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $220

Break-even live

Break-even rent $853

Max offer price $109,900

Occupancy floor 76%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 Waverly St Birmingham, AL	3.0	1.0	1014	$1,000	$0.99	44d	1	0.02mi
5025 43rd Pl N Birmingham, AL	4.0	2.0	1017	$1,300	$1.28	44d	1	0.16mi
4925 43rd Way N Birmingham, AL	3.0	2.0	1232	$1,461	$1.19	2d	1	0.20mi
1076 Green St Birmingham, AL	3.0	1.0	1172	$1,050	$0.90	16d	1	0.25mi
1249 Waverly St Birmingham, AL	3.0	1.0	1260	$1,000	$0.79	44d	1	0.25mi
5015 42nd Pl N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	44d	1	0.29mi
1439 Sloan Ave Birmingham, AL	3.0	1.0	936	$900	$0.96	44d	1	0.31mi
4208 50th Ave N Birmingham, AL	3.0	1.0	1104	$1,200	$1.09	44d	1	0.34mi
1237 Elm Ave Birmingham, AL	2.0	1.5	1312	$1,150	$0.88	44d	1	0.37mi
1401 Wharton Ave Birmingham, AL	2.0	1.0	1104	$950	$0.86	19d	1	0.40mi
1224 Maple St Birmingham, AL	2.0	1.0	812	$690	$0.85	19d	1	0.43mi
1415 Virginia St Birmingham, AL	2.0	1.0	781	$650	$0.83	44d	1	0.44mi
4101 50th Ave N Unit B Birmingham, AL	2.0	1.0	850	$900	$1.06	44d	1	0.49mi
1731 Mountain Dr Birmingham, AL	3.0	1.0	1160	$975	$0.84	44d	1	0.53mi
1043 Jackson Blvd Birmingham, AL	4.0	2.0	1300	$1,095	$0.84	14d	1	0.53mi
1137 Sloan Ave Birmingham, AL	2.0	1.0	750	$750	$1.00	14d	1	0.54mi
1120 Hall St Birmingham, AL	2.0	1.0	887	$775	$0.87	44d	1	0.57mi
1113 Elm Ave Unit c Birmingham, AL	2.0	1.0	800	$749	$0.94	44d	1	0.58mi
1116 Hall St Birmingham, AL	2.0	1.0	887	$775	$0.87	44d	1	0.59mi
4549 40th Pl N Birmingham, AL	2.0	1.0	728	$850	$1.17	44d	1	0.64mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	14d	1	0.66mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	44d	1	0.66mi
1816 Damon Cir Birmingham, AL	3.0	1.0	1401	$1,153	$0.82	16d	1	0.67mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	44d	1	0.69mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	3d	1	0.69mi
732 Fulton Ave Birmingham, AL	4.0	2.0	1320	$1,450	$1.10	44d	1	0.71mi
4217 43rd Ave N Birmingham, AL	3.0	1.0	1140	$1,200	$1.05	3d	1	0.74mi
4329 Pulaski St Birmingham, AL	3.0	2.0	1240	$1,353	$1.09	24d	1	0.75mi
4344 Pulaski St Birmingham, AL	3.0	1.0	1268	$1,050	$0.83	44d	1	0.79mi
4317 41st Ave N Birmingham, AL	3.0	1.0	864	$1,000	$1.16	44d	1	0.80mi
4301 Greenwood St Birmingham, AL	3.0	1.0	1140	$1,025	$0.90	3d	1	0.80mi
1316 Spring St Birmingham, AL	2.0	1.0	920	$1,195	$1.30	3d	1	0.81mi
1508 Saint Joseph St Birmingham, AL	3.0	1.0	1200	$995	$0.83	14d	1	0.83mi
4220 40th Ct N Birmingham, AL	3.0	1.0	948	$1,200	$1.27	44d	1	0.86mi
4244 Jackson St Birmingham, AL	3.0	1.0	858	$1,100	$1.28	44d	1	0.89mi
4231 40th Ave N Birmingham, AL	3.0	1.0	1272	$850	$0.67	19d	1	0.94mi
4236 39th Ave N Birmingham, AL	3.0	2.0	1000	$1,195	$1.20	24d	1	0.97mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	44d	1	0.98mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	24d	1	0.98mi
4028 40th Ave N Birmingham, AL	3.0	1.0	1186	$950	$0.80	44d	1	0.99mi

Listing history 7 events

1. 2026-06-18
   days on market $109,900 Active 9 DOM
2. 2026-06-17
   days on market $109,900 Active 8 DOM
3. 2026-06-16
   days on market $109,900 Active 7 DOM
4. 2026-06-15
   days on market $109,900 Active 6 DOM
5. 2026-06-13
   days on market $109,900 Active 4 DOM
6. 2026-06-10
   remarks 67-char remark
7. 2026-06-10
   listed $109,900 Active 1 DOM

ⓘ 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: $617 · $51/mo
• Projected year-2 tax: $617 · $51/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 3/10 Moderate
• 🌡 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: $13,576
• − Mortgage interest: −$6,156
• − Property taxes: −$617
• − Insurance: −$550
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$3,197
• Taxable income: $884
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $2,430/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: Tarrant City
• NCES district ID: 0103270
• Math proficiency: 4% ▼ -14.00%
• Reading proficiency: 17% ▼ -2.00%
• Median HH income: $29,256
• Composite: 8.0/100
• National rank: #9924
• State rank: #121 of 129 in AL

Livability — Tarrant

• Score: 51/100
• State rank: #507
• US rank: #25136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tarrant, AL
• County: Jefferson County · 527,445 people
• City population: 12,240
• 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

+182.5% since first listed

15 events — show timeline

• 2026-06-09 Listed $109,900 Greater Alabama MLS
• 2026-04-16 Price Changed $1,000 BUILDIUM
• 2026-02-03 Price Changed $1,100 BUILDIUM
• 2025-12-05 Listed for Rent $1,200 BUILDIUM
• 2025-10-03 Sold (Public Records) $77,000 Public Records
• 2025-10-01 Sold (MLS) $65,000 Greater Alabama MLS
• 2025-09-29 Rental Removed $1,075 APPFOLIO
• 2025-09-18 Pending — Greater Alabama MLS
• 2025-09-02 Listed $69,999 Greater Alabama MLS
• 2025-07-01 Listed for Rent $1,075 APPFOLIO
• 2019-12-11 Sold (Public Records) $44,000 Public Records
• 2009-03-16 Sold (Public Records) $14,700 Public Records
• 2006-04-12 Sold (Public Records) $79,000 Public Records
• 2004-02-09 Sold (Public Records) $70,000 Public Records
• 1993-04-07 Sold (Public Records) $38,900 Public Records

Property tax history

+3.2%/yr

Latest (2025): $617 · +0.0% YoY. Source: county tax records.