394 Fernbrook Ave · Birmingham, AL 35215

$109,900

3 bd · 1.5 ba · 1,140 sqft · SingleFamily public records · 9 Days on market

Built 1958 10,018 sqft lot Est $124k · 12% 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 +25.6/30.0
• ARV discount +12.7/15.0
• DSCR +8.5/10.0
• 1% rule +6.4/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 Bedroom, 1.5 Bath Home features a Formal Dining Room, Formal Living Room, Eat In Kitchen, Covered Patio & Huge Backyard! This house is waiting for an Investor to come in and show it some love. This one wont last long!

Key facts

• Manageable lot
• Mature surroundings
• Practical design

Tags

• SINGLE-FAMILY HOME
• FUNCTIONAL LAYOUT
• COMFORTABLE LIVING SPACES
• PRACTICAL DESIGN
• MANAGEABLE LOT
• MATURE SURROUNDINGS

Property features AI

Finance

• Other: Subdivision: CLOVERDALE
• HOA & community: No association fee

Exterior

• Parking: Driveway parking; Multi-level parking; Off-street parking; 1 carport space
• Utilities: Public water; Connected sewer; Gas water heater; Internet availability unknown
• Home design: Existing year-built (per listing); 4-sided brick construction; Crawl space foundation
• Construction: 4-sided brick exterior; Crawl space foundation
• Exterior features: Open patio; Garden/patio area; Interior lot; Not waterfront; No pool; No decks

Interior

• Kitchen: Laminate countertops; Electric oven
• Bedrooms: Master bedroom on main level; Two additional bedrooms on main level
• Flooring: Hardwood; Tile; Vinyl
• Bathrooms: One full bathroom; One half bathroom; Tub/shower combo; Linen closet
• Heating & cooling: Central heating; Central cooling
• Interior features: Smooth ceilings; No additional built-in interior features listed; Attic with pull-down access
• Laundry & utility: Laundry on main level; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/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 9.1% 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: Martha Gaskins K5 (math 0% / reading 15%, grade F, #598 of 627 statewide, top 96%, 509 students, 87% FRL); Huffman High Schoolmagnet (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 1,147 students, 72% FRL) — zoned schools at 79% FRL track the district average.
• Market conditions: Rents rising (+3.0%/yr); 333 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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.
• 2 sale attempts since 4y ago 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 $78k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.14% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.15%
• DSCR: 1.45
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $124,260
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 Sunbrook Ave	0.14mi	3/1.5	1,120 (-2%)	2mo	$148,000	$132	89
312 Pine St	0.05mi	3/1.0	1,080 (-5%)	1mo	$60,000	$56	86
408 Ford Way	0.20mi	3/1.0	1,074 (-6%)	2mo	$27,500	$26	77
9809 Maple Ln	0.44mi	3/1.0	1,192 (+5%)	3mo	$130,000	$109	67
205 Tucker Ave	0.24mi	3/1.0	1,012 (-11%)	5mo	$85,000	$84	64
173 Redstone Way	0.59mi	3/2.0	1,182 (+4%)	2mo	$155,000	$131	63
204 Boxwood Cir	0.34mi	3/1.0	1,252 (+10%)	4mo	$70,000	$56	62
201 Carol Dr	0.74mi	3/1.0	1,096 (-4%)	2mo	$154,000	$141	55
125 Redstone Dr	0.63mi	3/1.5	1,042 (-9%)	3mo	$145,000	$139	54
9817 Virginianna Dr	0.52mi	3/1.0	989 (-13%)	4mo	$125,000	$126	48
328 Pat Ave	0.75mi	3/1.0	1,244 (+9%)	1mo	$93,500	$75	47
321 Joan Ave	0.71mi	3/1.0	1,294 (+14%)	2mo	$121,000	$94	41

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 · 3.04% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-5,375
• Equity at exit: $16,386

10-year hold

• IRR: 5.1%
• Equity multiple: 1.38×
• Total profit: $11,584
• 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 35215

• Home prices YoY: -34.4%
• Rents YoY: 3.0%
• Active inventory: 333
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$576
• Tax from tax record: −$106 /mo · $1,277/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $194

Break-even live

Break-even rent $1,006

Max offer price $109,900

Occupancy floor 80%

Sensitivity live

Price	-10% $256	-5% $225	+0% $194	+5% $163	+10% $132
Rent	-10% $95	-5% $144	+0% $194	+5% $243	+10% $293
Rate	-1.0pp $249	-0.5pp $222	base $194	+0.5pp $165	+1.0pp $136

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 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
316 Pine St Birmingham, AL	3.0	1.0	1232	$1,100	$0.89	45d	1	0.06mi
252 Meadowdale Ave Birmingham, AL	3.0	1.0	920	$995	$1.08	45d	1	0.10mi
252 Westwood Dr Birmingham, AL	3.0	1.5	1124	$1,400	$1.25	3d	1	0.14mi
209 Tucker Ave Birmingham, AL	3.0	1.0	1044	$1,100	$1.05	45d	1	0.26mi
204 McCormick Ave Birmingham, AL	3.0	1.0	880	$980	$1.11	4d	1	0.27mi
221 Lawson Rd Birmingham, AL	3.0	1.5	1102	$1,325	$1.20	25d	1	0.33mi
957 Hickory Cir Birmingham, AL	3.0	2.0	1364	$1,195	$0.88	4d	1	0.35mi
9844 Greenlee Rd Birmingham, AL	3.0	1.0	1046	$950	$0.91	45d	1	0.43mi
848 Old Trail Rd Birmingham, AL	2.0	1.5	930	$925	$0.99	25d	1	0.49mi
208 Sam Pate Dr Birmingham, AL	3.0	2.0	988	$1,385	$1.40	3d	1	0.51mi
426 Buckingham Cir Birmingham, AL	2.0	1.5	1080	$1,013	$0.94	45d	1	0.64mi
241 Mamie Ln Birmingham, AL	3.0	2.0	1242	$1,495	$1.20	4d	1	0.65mi
46 Sunscape Dr Birmingham, AL	4.0	2.0	1178	$1,450	$1.23	45d	1	0.68mi
40 Sunscape Dr Birmingham, AL	3.0	2.0	1283	$1,555	$1.21	3d	1	0.70mi
201 Rose Dr Birmingham, AL	3.0	1.0	972	$1,100	$1.13	17d	1	0.78mi
945 Elizabeth Dr Birmingham, AL	3.0	1.0	1227	$1,125	$0.92	4d	1	0.80mi
628 Annie Laura Dr Birmingham, AL	3.0	1.0	844	$1,195	$1.42	45d	1	0.81mi
932 Five Mile Rd Birmingham, AL	3.0	1.5	1200	$1,175	$0.98	20d	1	0.83mi
217 Killough Dr Birmingham, AL	3.0	2.0	1212	$1,200	$0.99	16d	1	0.90mi
216 Sanford Dr Birmingham, AL	3.0	1.5	1134	$1,200	$1.06	45d	1	0.94mi
529 Robison Dr Birmingham, AL	2.0	1.0	960	$960	$1.00	22d	1	0.96mi
912 Meadowbrook Dr Birmingham, AL	3.0	1.0	1178	$1,100	$0.93	45d	1	0.98mi
832 Meadowbrook Dr Birmingham, AL	3.0	2.0	1228	$1,225	$1.00	25d	1	0.98mi
940 Meadowbrook Dr Birmingham, AL	4.0	1.0	1149	$1,300	$1.13	45d	1	0.98mi
818 Sunset Dr Birmingham, AL	3.0	1.0	992	$1,000	$1.01	45d	1	1.04mi
1112 Violet Dr Birmingham, AL	3.0	2.0	1414	$1,600	$1.13	13d	1	1.16mi
603 Camp Ct Birmingham, AL	3.0	1.0	936	$1,300	$1.39	45d	1	1.26mi
520 Camellia Rd Birmingham, AL	3.0	1.0	1053	$1,100	$1.04	4d	1	1.27mi
433 Orchid Rd Birmingham, AL	3.0	1.0	1162	$1,255	$1.08	17d	1	1.31mi
656 Valley Crest Dr Birmingham, AL	2.0	1.5	1088	$1,350	$1.24	3d	1	1.41mi
726 Orchard Rd Birmingham, AL	3.0	1.0	1120	$1,095	$0.98	45d	1	1.43mi
8917 Roebuck Blvd Apt 11 Birmingham, AL	2.0	1.0	880	$725	$0.82	17d	1	1.46mi
9228 Brookhurst Dr Birmingham, AL	3.0	1.0	1146	$999	$0.87	45d	1	1.49mi

Listing history 7 events

1. 2026-06-21
   days on market $109,900 Active 9 DOM
2. 2026-06-18
   days on market $109,900 Active 6 DOM
3. 2026-06-17
   days on market $109,900 Active 5 DOM
4. 2026-06-16
   days on market $109,900 Active 4 DOM
5. 2026-06-15
   days on market $109,900 Active 3 DOM
6. 2026-06-13
   remarks 465-char remark
7. 2026-06-13
   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: $1,277 · $106/mo
• Projected year-2 tax: $1,277 · $106/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°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 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,020
• − Mortgage interest: −$6,156
• − Property taxes: −$1,277
• − Insurance: −$1,347
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$3,197
• Taxable income: $639
• Est. tax owed @ 24.0%: −$153
• After-tax cash flow: $2,172/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): 43,903
• Household income: $52,793
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1729.0

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 (75%)
• Race & ethnicity: Black 75% White 15% Hispanic / Latino 7% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% 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: ▼ -112.97%
• Current HPI: 215.0607
• Rent YoY: ▲ 3.04%
• 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

+129.4% since first listed

8 events — show timeline

• 2026-06-12 Listed $109,900 Greater Alabama MLS
• 2022-02-02 Sold (Public Records) $78,000 Public Records
• 2022-01-14 Sold (MLS) $79,000 Greater Alabama MLS
• 2022-01-08 Delisted — Greater Alabama MLS
• 2022-01-03 Listed $69,900 Greater Alabama MLS
• 2007-05-07 Sold (Public Records) $74,400 Public Records
• 1993-10-26 Sold (Public Records) $47,900 Public Records
• 1992-03-18 Sold (Public Records) $47,900 Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,277 · +4.0% YoY. Source: county tax records.