1228 Fulton Ave SW · Birmingham, AL 35211

$125,000

4 bd · 2.0 ba · 1,800 sqft · Condo · 87 Days on market

Built 1972 Average condition $69/sqft · 41% below area Est $213k · 41% under ↓ 4% since listing

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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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Livability +3.4/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special! This income-producing duplex features two spacious units, one rented at $550/month to long-term, on-time paying tenant. With market rents in the area between $750–$800 per side, there’s immediate upside potential for increased cash flow. Both units are in solid condition, and the property is professionally managed. Located in a growing area just minutes from downtown Birmingham, this is a great opportunity to add a stable, high-yield asset to your rental portfolio. Don’t miss out! Both units are separately metered and tenant covers all utility charges.

Key facts

• Built 1972
• Listed 87 days

🏷️ Possibly a rental listed for sale. The $125,000 price doesn't fit this home's estimated sale value (~$212,977) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $125k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 soft (-0.0%/yr); 154 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $1,400/mo this rent would consume 48% of the median local household income ($35k/yr) (locally 2161% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 87 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 15525% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.31%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $212,977
• List price: $125,000
• Delta: -41.31%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.75×
• Total profit: $-8,903
• Equity at exit: $18,638

10-year hold

• IRR: -1.8%
• Equity multiple: 0.90×
• Total profit: $-3,651
• Equity at exit: $10,808

Cash invested: $35,000 (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 35211

• Rents YoY: -0.0%
• Active inventory: 154
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $242

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 78%

Sensitivity live

Price	-10% $329	-5% $286	+0% $242	+5% $199	+10% $156
Rent	-10% $132	-5% $187	+0% $242	+5% $298	+10% $353
Rate	-1.0pp $305	-0.5pp $274	base $242	+0.5pp $210	+1.0pp $177

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1213 Alabama Ave SW Birmingham, AL	4.0	2.0	1616	$1,200	$0.74	45d	1	0.04mi
1217 Fulton Ave SW Birmingham, AL	4.0	2.0	1397	$1,395	$1.00	45d	1	0.05mi
1437 Woodland Ave SW Birmingham, AL	3.0	1.0	1369	$1,100	$0.80	5d	1	0.30mi
1501 Princeton Ave SW Birmingham, AL	3.0	2.0	1260	$1,350	$1.07	46d	1	0.34mi
1012 Cotton Ave SW Birmingham, AL	3.0	1.0	1232	$1,000	$0.81	45d	1	0.38mi
1645 Woodland Ave SW Birmingham, AL	4.0	2.0	1298	$1,300	$1.00	20d	1	0.55mi
820 McMillon Ave SW Birmingham, AL	5.0	2.0	1795	$1,350	$0.75	45d	1	0.57mi
644 Alabama Ave SW Birmingham, AL	3.0	1.0	1274	$1,125	$0.88	25d	1	0.65mi
504 Francis Pl SW Birmingham, AL	3.0	2.0	1816	$1,223	$0.67	25d	1	0.67mi
1800 Woodland Ave SW Birmingham, AL	4.0	1.0	1411	$1,195	$0.85	3d	1	0.69mi
608 Fulton Ave SW Birmingham, AL	3.0	1.0	1271	$1,300	$1.02	45d	1	0.73mi
1136 15th St SW Birmingham, AL	4.0	2.0	1296	$1,395	$1.08	25d	1	0.73mi
1149 15th St SW Birmingham, AL	5.0	2.0	2371	$1,399	$0.59	45d	1	0.74mi
1609 Jefferson Ave SW Birmingham, AL	4.0	1.0	1572	$1,300	$0.83	5d	1	0.79mi
1108 4th Ct W Birmingham, AL	3.0	2.0	1623	$1,125	$0.69	4d	1	0.79mi
1141 15th Way SW Birmingham, AL	5.0	2.0	1458	$1,400	$0.96	45d	1	0.80mi
1728 Princeton Ave SW Birmingham, AL	4.0	2.0	1334	$1,300	$0.97	45d	1	0.82mi
1816 Saint Charles Ave SW Birmingham, AL	3.0	1.0	1395	$1,295	$0.93	25d	1	0.84mi
1620 Alemeda Ave SW Birmingham, AL	3.0	2.0	1314	$1,295	$0.99	3d	1	0.85mi
1204 15th Way SW Birmingham, AL	4.0	3.0	1715	$1,400	$0.82	45d	1	0.86mi
1230 4th Ter W Birmingham, AL	3.0	2.0	1540	$1,000	$0.65	45d	1	0.87mi
724 4th Ct W Birmingham, AL	3.0	1.0	1300	$930	$0.72	45d	1	0.87mi
2920 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1800	$1,050	$0.58	25d	1	0.96mi
1698 Heron Johnson Dr Birmingham, AL	5.0	1.5	1500	$1,175	$0.78	45d	1	0.97mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	3d	1	0.97mi
1701 4th Ter W Birmingham, AL	4.0	2.5	1977	$1,550	$0.78	25d	1	0.98mi
1872 Princeton Ct SW Birmingham, AL	5.0	2.0	1829	$1,700	$0.93	25d	1	0.99mi
2309 Eufaula Ave Birmingham, AL	4.0	2.0	1454	$1,395	$0.96	25d	1	0.99mi
2304 Eufaula Ave Birmingham, AL	3.0	1.0	1381	$980	$0.71	45d	1	1.01mi
1900 Saint Charles Ave SW Birmingham, AL	4.0	2.0	1623	$1,350	$0.83	3d	1	1.02mi
1101 7th Ave W Birmingham, AL	3.0	1.0	1248	$1,250	$1.00	45d	1	1.03mi
2709 30th Street Ensley Birmingham, AL	4.0	2.0	1410	$1,323	$0.94	3d	1	1.03mi
1698 Dennison Ave SW Birmingham, AL	4.0	2.0	1780	$1,300	$0.73	45d	1	1.03mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	45d	1	1.07mi
1408 16th St SW Birmingham, AL	3.0	2.0	2076	$1,150	$0.55	45d	1	1.15mi
2712 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1232	$1,099	$0.89	25d	1	1.15mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1350	$1,500	$1.11	5d	1	1.18mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1692	$1,500	$0.89	20d	1	1.18mi
12 4th Ave SW Unit 1 Birmingham, AL	3.0	1.0	1336	$1,100	$0.82	45d	1	1.27mi
1532 Graymont Ave W Birmingham, AL	4.0	2.0	1913	$1,150	$0.60	45d	1	1.28mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $125,000 Active 87 DOM
2. 2026-06-18
   days on market $125,000 Active 84 DOM
3. 2026-06-17
   days on market $125,000 Active 83 DOM
4. 2026-06-16
   days on market $125,000 Active 82 DOM
5. 2026-06-15
   days on market $125,000 Active 81 DOM
6. 2026-06-13
   days on market $125,000 Active 79 DOM
7. 2026-06-10
   days on market $125,000 Active 76 DOM
8. 2026-06-09
   days on market $125,000 Active 75 DOM
9. 2026-06-08
   days on market $125,000 Active 74 DOM
10. 2026-06-07
    days on market $125,000 Active 73 DOM
11. 2026-06-03
    days on market $125,000 Active 69 DOM
12. 2026-06-02
    days on market $125,000 Active 68 DOM
13. 2026-06-01
    days on market $125,000 Active 67 DOM
14. 2026-05-31
    days on market $125,000 Active 66 DOM
15. 2026-05-14
    price $750
16. 2026-05-01
    listed $800
17. 2026-04-15
    price $125,000 594-char remark

    Show marketing remark (594 chars)

    Investor special! This income-producing duplex features two spacious units, one rented at $550/month to long-term, on-time paying tenant. With market rents in the area between $750–$800 per side, there’s immediate upside potential for increased cash flow. Both units are in solid condition, and the property is professionally managed. Located in a growing area just minutes from downtown Birmingham, this is a great opportunity to add a stable, high-yield asset to your rental portfolio. Don’t miss out! Both units are separately metered and tenant covers all utility charges.

18. 2026-03-26
    listed $130,000 Active 594-char remark

    Show marketing remark (594 chars)

    Investor special! This income-producing duplex features two spacious units, one rented at $550/month to long-term, on-time paying tenant. With market rents in the area between $750–$800 per side, there’s immediate upside potential for increased cash flow. Both units are in solid condition, and the property is professionally managed. Located in a growing area just minutes from downtown Birmingham, this is a great opportunity to add a stable, high-yield asset to your rental portfolio. Don’t miss out! Both units are separately metered and tenant covers all utility charges.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,803
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$3,636
• Taxable income: $976
• Est. tax owed @ 24.0%: −$234
• After-tax cash flow: $2,674/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This income-producing duplex requires moderate repairs and maintenance to improve its condition and value. Painting, landscaping, and kitchen updates would significantly enhance its appeal and marketability.

Repairs flagged

• Moderate Kitchen cabinets — Worn appearance
• Minor Kitchen countertops — Need cleaning

Value-add opportunities

• Both Painting — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping — Well-maintained landscaping improves curb appeal and property value
• Both Kitchen updates — New countertops and cabinets would modernize the kitchen and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Moderate	$3,000–15,000
Kitchen countertops · Need cleaning	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Painting — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and property value ↑
• Both Kitchen updates — New countertops and cabinets would modernize the kitchen and increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 24,924
• Household income: $34,884
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2161.0

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 10% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8% French/Haitian/Cajun 1%

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: ▼ -49.29%
• Current HPI: 91.2903
• Rent YoY: ▬ -0.01%
• 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

-3.8% since first listed

4 events — show timeline

• 2026-05-14 Price Changed $750 SHOWMOJO
• 2026-05-01 Listed for Rent $800 SHOWMOJO
• 2026-04-15 Price Changed $125,000 Greater Alabama MLS
• 2026-03-26 Listed $130,000 Greater Alabama MLS