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1228 Fulton Ave 🏷️ Likely Rental
B Composite 74.48
Why this score? — see what drove the B 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
  • ARV discount +15.0/15.0
  • 1% rule +10.0/10.0
  • DSCR +10.0/10.0
  • 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

$120,000

1228 Fulton Ave · Birmingham, AL 35211
4 bd · 2.0 ba · 1,800 sqft · MultiFamily · 4 Days on market
Built 1972 Average condition $67/sqft · 38% below area Est $192k · 38% under ↓ 4% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Investor special! This income-producing duplex features two spacious units, one rented at $550/month to long-term, on-time paying tenant. And the other unit just recently leased for $750/mo. Total rents: $1,300/mo, 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

  • Separately metered
  • Built 1972
  • Listed 3 days

Tags

INCOME PRODUCING DUPLEXSTABLE HIGH YIELD ASSETPROFESSIONALLY MANAGEDSEPARATELY METERED

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…
🏷️ Possibly a rental listed for sale. The $120,000 price doesn't fit this home's estimated sale value (~$192,185) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

  • This is a 2 × 2-bed/1.0-bath units multifamily listed at $120k. Condition is rated average.
  • This rent per unit runs 32% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

  • At list price, monthly cash flow is $621 ($7k/yr) — positive. Per door: $311/mo.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($2k rent vs $120k).
  • Cap rate 12.5% 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: Hemphill Elementary School (math 5% / reading 24%, grade F, #508 of 627 statewide, top 84%, 336 students, 87% FRL); Parker High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 826 students, 90% FRL).
  • Market conditions: Rents soft (-0.0%/yr); 270 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 55d 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).

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $830 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.
  • At projected returns (-3.0% appreciation + 0.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

  • Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

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 $120,000

Questions for the listing agent

  1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
  2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
  3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  5. 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?
  6. 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?
  7. 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.
  8. 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.
  9. 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
1.53% ✓
Cap rate
12.50%
Cash-on-cash
22.18%
DSCR
1.99
GRM
5.4

CMA / ARV

ARV (median comp)
$192,185
List price
$120,000
Delta
-37.56%
Verdict
UNDERPRICED
Comps
2 within 2.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
604 14th St SW 0.22mi 3/2.0 (-1) 2,108 (+17%) 0mo $85,000 $40 60
3012 Border St 0.79mi 3/2.0 (-1) 1,818 (+1%) 0mo $62,000 $34 58
2616 20th Street Ensley 1.41mi 4/2.0 1,873 (+4%) 1mo $57,500 $31 58
102 4th Ave S 1.48mi 3/2.0 (-1) 1,755 (-2%) 1mo $182,000 $104 55
2933 Court Y 1.11mi 3/2.0 (-1) 1,723 (-4%) 0mo $192,000 $111 53
1028 Alabama Ave SW 0.27mi 3/1.0 (-1) 1,366 (-24%) 1mo $68,000 $50 52
1744 Lee Ave SW 0.86mi 4/1.0 1,670 (-7%) 1mo $35,000 $21 48
2121 47th Pl 1.34mi 3/2.0 (-1) 1,948 (+8%) 1mo $60,000 $31 45
1808 Princeton Ct SW 0.85mi 3/1.0 (-1) 1,682 (-7%) 1mo $32,000 $19 44
1501 16th Way SW 1.28mi 3/2.0 (-1) 1,610 (-11%) 1mo $116,000 $72 42
1329 15th Pl SW 0.98mi 3/2.0 (-1) 1,432 (-20%) 0mo $110,000 $77 35
800 Center Pl SW 1.40mi 3/1.5 (-1) 1,461 (-19%) 0mo $61,000 $42 33

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 · 0.0% rent growth · sell at horizon

5-year hold
IRR
11.5%
Equity multiple
1.44×
Total profit
$14,763
Equity at exit
$17,892
10-year hold
IRR
18.0%
Equity multiple
2.28×
Total profit
$43,115
Equity at exit
$10,375

Cash invested: $33,600 (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
270
Price-to-rent
10.9×

Monthly cashflow live

Estimated rent
$1,836 high interval (Pro) →
Mortgage (P&I)
−$629
Tax est. 1.5%
−$150 /mo · $1,800/yr
Insurance
−$50
HOA
−$0
Vacancy / Maint / Mgmt
−$386
Net cashflow
$621

2-unit breakdown (identical units grouped — click to expand)

UnitsBedsBathsEst. rent
Total (2 units) $1,836

Break-even live

Break-even rent $1,050
Max offer price $120,000
Occupancy floor 61%

Sensitivity live

Price -10% $704 -5% $663 +0% $621 +5% $580 +10% $538
Rent -10% $476 -5% $549 +0% $621 +5% $694 +10% $766
Rate -1.0pp $682 -0.5pp $652 base $621 +0.5pp $590 +1.0pp $558

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
$30,000
Closing costs
$3,600
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
1228 Fulton Ave SW Birmingham, AL 2.0 1.0 900 $800 $0.89 185d 1 0.02mi
1216 Woodland Ave SW Birmingham, AL 3.0 1.0 1005 $1,053 $1.05 55d 1 0.16mi
1228 Tuscaloosa Ave Apt 5 Birmingham, AL 2.0 1.0 900 $800 $0.89 10d 1 0.17mi
429 11th St SW Birmingham, AL 2.0 1.5 1000 $850 $0.85 10d 1 0.20mi
405 11th St SW Unit B Birmingham, AL 2.0 1.0 1065 $800 $0.75 10d 1 0.20mi
310 14th St SW Birmingham, AL 2.0 1.0 624 $790 $1.27 55d 1 0.22mi
1429 Alabama Ave SW Birmingham, AL 3.0 1.0 1099 $1,000 $0.91 7d 1 0.25mi
1100 Cotton Ave SW Unit b Birmingham, AL 2.0 1.5 816 $745 $0.91 0d 1 0.34mi
717 15th St SW Unit 717 Birmingham, AL 2.0 1.0 773 $675 $0.87 10d 1 0.39mi
717 15th St SW Unit 717 Birmingham, AL 2.0 1.0 773 $675 $0.87 14d 1 0.39mi
521 16th St SW Unit 523 Birmingham, AL 2.0 1.0 800 $800 $1.00 184d 1 0.46mi
909 Cotton Ave SW Apt D Birmingham, AL 2.0 1.0 800 $695 $0.87 29d 1 0.47mi
909 Cotton Ave SW Apt D Birmingham, AL 2.0 1.0 800 $695 $0.87 9d 1 0.47mi
916 14th St SW Unit F Birmingham, AL 2.0 1.0 870 $800 $0.92 184d 1 0.48mi
916 14th St SW Unit F Birmingham, AL 2.0 1.0 800 $800 $1.00 152d 1 0.48mi
916 14th St SW Unit A Birmingham, AL 2.0 1.0 870 $800 $0.92 164d 1 0.48mi
914 14th St SW Unit B Birmingham, AL 1.0 1.0 580 $600 $1.03 152d 1 0.48mi
914 14th St SW Unit B Birmingham, AL 1.0 1.0 577 $700 $1.21 164d 1 0.48mi
914 14th St SW Unit A Birmingham, AL 1.0 1.0 577 $600 $1.04 164d 1 0.48mi
719 Washington Ave SW Birmingham, AL 3.0 1.0 1064 $950 $0.89 10d 1 0.56mi
217 12th St W Birmingham, AL 2.0 1.0 800 $800 $1.00 108d 1 0.57mi
219 12th St W Birmingham, AL 2.0 1.0 800 $799 $1.00 164d 1 0.58mi
219 12th St W Birmingham, AL 2.0 1.0 800 $800 $1.00 108d 1 0.58mi
132 17th St SW Birmingham, AL 2.0 1.0 738 $945 $1.28 184d 1 0.66mi
1109 4th Ave W Unit A Birmingham, AL 2.0 1.0 700 $1,000 $1.43 10d 1 0.68mi
1116 4th Ave W Birmingham, AL 2.0 1.0 750 $600 $0.80 110d 1 0.72mi
1024 4th Ave W Unit B Birmingham, AL 2.0 1.0 840 $823 $0.98 184d 1 0.72mi
1018 4th Ave W Apt 2 Birmingham, AL 2.0 1.0 840 $749 $0.89 0d 1 0.73mi
1000 4th Ave W Apt 1 Birmingham, AL 2.0 1.0 840 $877 $1.04 23d 1 0.74mi
1000 4th Ave W Unit 4 Birmingham, AL 2.0 1.0 840 $823 $0.98 164d 1 0.74mi
1000 4th Ave W Unit 3 Birmingham, AL 2.0 1.0 840 $773 $0.92 55d 1 0.74mi
1621 2nd Ct W Birmingham, AL 3.0 1.0 1074 $1,095 $1.02 55d 1 0.75mi
908 4th Ave W Birmingham, AL 2.0 1.0 700 $745 $1.06 164d 1 0.76mi
600 Princeton Ave SW Birmingham, AL 2.0 1.0 800 $800 $1.00 10d 1 0.77mi
1860 Woodland Ave SW Birmingham, AL 3.0 1.0 903 $1,250 $1.38 1d 1 0.81mi
500 Tuscaloosa Ave Apt 4 Birmingham, AL 2.0 1.0 666 $850 $1.28 29d 1 0.87mi
500 Tuscaloosa Ave Apt 8 Birmingham, AL 2.0 1.0 888 $850 $0.96 28d 1 0.87mi
500 Tuscaloosa Ave Apt 8 Birmingham, AL 2.0 1.0 888 $850 $0.96 10d 1 0.87mi
834 4th Ter W Unit 836 Birmingham, AL 2.0 1.0 800 $850 $1.06 127d 1 0.90mi
1233 15th Way SW Birmingham, AL 3.0 1.0 1119 $1,050 $0.94 184d 1 0.90mi

Property features AI

Exterior

Parking
Assigned parking
Utilities
Public waterConnected sewerElectric water heater
Home design
Two units
Construction
Existing constructionBrick constructionCrawl-space foundation

Interior

Kitchen
Dishwasher
Bedrooms
Two bedrooms per unit
Flooring
Some hardwood flooring
Bathrooms
One full bathroom per unit
Heating & cooling
Central heating with individual controlCentral cooling with individual control
Interior features
Separate living area
Laundry & utility
Washer/dryer connections

Listing history 50 events

  1. 2026-11-08
    days on market $120,000 Active 4 DOM
  2. 2026-11-07
    days on market $120,000 Active 3 DOM
  3. 2026-11-06
    days on market $120,000 Active 2 DOM
  4. 2026-11-04
    pricedays on marketlisting id $120,000 Active 1 DOM
  5. 2026-09-25
    days on market $125,000 Active 183 DOM
  6. 2026-09-24
    days on market $125,000 Active 182 DOM
  7. 2026-09-23
    days on market $125,000 Active 181 DOM
  8. 2026-09-22
    days on market $125,000 Active 180 DOM
  9. 2026-09-21
    days on market $125,000 Active 179 DOM
  10. 2026-09-20
    days on market $125,000 Active 178 DOM
  11. 2026-09-19
    days on market $125,000 Active 177 DOM
  12. 2026-09-18
    days on market $125,000 Active 176 DOM
  13. 2026-09-17
    days on market $125,000 Active 175 DOM
  14. 2026-09-16
    days on market $125,000 Active 174 DOM
  15. 2026-09-15
    days on market $125,000 Active 173 DOM
  16. 2026-09-14
    days on market $125,000 Active 172 DOM
  17. 2026-09-13
    days on market $125,000 Active 171 DOM
  18. 2026-09-12
    days on market $125,000 Active 170 DOM
  19. 2026-09-11
    days on market $125,000 Active 169 DOM
  20. 2026-09-05
    days on market $125,000 Active 163 DOM
  21. 2026-09-04
    days on market $125,000 Active 162 DOM
  22. 2026-09-03
    days on market $125,000 Active 161 DOM
  23. 2026-08-31
    days on market $125,000 Active 158 DOM
  24. 2026-08-30
    days on market $125,000 Active 157 DOM
  25. 2026-08-29
    days on market $125,000 Active 156 DOM
  26. 2026-08-28
    days on market $125,000 Active 155 DOM
  27. 2026-08-27
    days on market $125,000 Active 154 DOM
  28. 2026-08-25
    days on market $125,000 Active 152 DOM
  29. 2026-08-24
    days on market $125,000 Active 151 DOM
  30. 2026-08-23
    days on market $125,000 Active 150 DOM
  31. 2026-08-22
    days on market $125,000 Active 149 DOM
  32. 2026-08-21
    days on market $125,000 Active 148 DOM
  33. 2026-08-20
    days on market $125,000 Active 147 DOM
  34. 2026-08-19
    days on market $125,000 Active 146 DOM
  35. 2026-08-18
    days on market $125,000 Active 145 DOM
  36. 2026-08-17
    days on market $125,000 Active 144 DOM
  37. 2026-08-16
    days on market $125,000 Active 143 DOM
  38. 2026-08-15
    days on market $125,000 Active 142 DOM
  39. 2026-08-14
    days on market $125,000 Active 141 DOM
  40. 2026-08-13
    remarks 595-char remark
  41. 2026-08-13
    days on market $125,000 Active 140 DOM
  42. 2026-08-12
    days on market $125,000 Active 139 DOM
  43. 2026-08-11
    days on market $125,000 Active 138 DOM
  44. 2026-08-10
    days on market $125,000 Active 137 DOM
  45. 2026-08-09
    days on market $125,000 Active 136 DOM
  46. 2026-08-08
    days on market $125,000 Active 135 DOM
  47. 2026-08-07
    days on market $125,000 Active 134 DOM
  48. 2026-08-06
    days on market $125,000 Active 133 DOM
  49. 2026-08-05
    days on market $125,000 Active 132 DOM
  50. 2026-08-04
    days on market $125,000 Active 131 DOM

ⓘ 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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$22,032
− Mortgage interest
−$6,722
− Property taxes
−$1,800
− Insurance
−$600
− Repairs & maintenance
−$1,763
− Management
−$1,763
− Depreciation
−$3,491
Taxable income
$5,894
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$1,415
After-tax cash flow
$6,039/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 Est. rehab $45,000–$81,000 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 9/100

Zoned Schools

Elementary Hemphill Elementary School F AL #508/627 Nat'l #36,424/41,679 Middle Wilkerson Middle School F AL #235/257 Nat'l #13,509/14,009 High Parker High School F AL #291/305 Nat'l #17,145/17,239

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
C Composite livability gradescore 67/100

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 · 669,185 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
19% of renters

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%
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
—

Price history

-4.0% since first listed
2 events — show timeline
  • 2026-11-04 Listed $120,000 Greater Alabama MLS
  • 2026-04-15 Price Changed $125,000 Greater Alabama MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…