1228 Fulton Ave SW · Birmingham, AL 35211

$125,000

4 bd · 2.0 ba · 1,800 sqft · MultiFamily · 182 Days on market

Built 1972 Average condition $69/sqft · 53% below area ↓ 4% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 181 days

🏷️ Possibly a rental listed for sale. The $125,000 price doesn't fit this home's estimated sale value (~$265,000) 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 $125k. 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 $613 ($7k/yr) — positive. Per door: $307/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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); 244 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 108d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($110k) 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.50% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.03%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $265,000
• List price: $125,000
• Delta: -52.83%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 12th St SW	0.06mi	3/2.0 (-1)	1,444 (-20%)	1mo	$44,000	$30	66
1533 Cleveland Ave SW	0.59mi	4/2.0	1,872 (+4%)	0mo	$160,000	$85	66
516 SW 14th St SW	0.19mi	4/2.0	1,528 (-15%)	3mo	$125,000	$82	64
1569 Cotton Ave SW	0.53mi	4/1.0	1,720 (-4%)	3mo	$30,000	$17	62
1305 Goldwire St SW	1.47mi	4/2.0	1,838 (+2%)	1mo	$170,000	$92	61
1251 Graymont Ave	1.09mi	4/2.0	1,623 (-10%)	2mo	$65,000	$40	47
2221 Pearson Ave SW	1.45mi	4/2.0	1,352 (-25%)	2mo	$36,000	$27	38
927 SW Mason Ave SW	1.48mi	4/2.0	1,530 (-15%)	3mo	$112,000	$73	38
2628 Bush Blvd	1.44mi	3/1.5 (-1)	1,586 (-12%)	1mo	$87,000	$55	37
312 Goldwire St SW	1.14mi	3/2.0 (-1)	1,427 (-21%)	1mo	$125,100	$88	34
1725 Mims Ave	1.30mi	3/2.0 (-1)	1,426 (-21%)	1mo	$114,900	$81	34
17 3rd Ave	1.25mi	3/1.0 (-1)	1,397 (-22%)	2mo	$62,000	$44	29

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: 10.0%
• Equity multiple: 1.38×
• Total profit: $13,364
• Equity at exit: $18,638

10-year hold

• IRR: 16.5%
• Equity multiple: 2.17×
• Total profit: $40,883
• 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: 244
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,870 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $613

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,870
Total (2 units)			$1,870

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 62%

Sensitivity live

Price	-10% $700	-5% $657	+0% $613	+5% $570	+10% $527
Rent	-10% $466	-5% $540	+0% $613	+5% $687	+10% $761
Rate	-1.0pp $676	-0.5pp $645	base $613	+0.5pp $581	+1.0pp $548

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1228 Fulton Ave SW Birmingham, AL	2.0	1.0	900	$800	$0.89	140d	1	0.02mi
1216 Woodland Ave SW Birmingham, AL	3.0	1.0	1005	$1,053	$1.05	9d	1	0.16mi
405 11th St SW Unit B Birmingham, AL	2.0	1.0	1065	$800	$0.75	139d	1	0.20mi
310 14th St SW Birmingham, AL	2.0	1.0	624	$790	$1.27	9d	1	0.22mi
1429 Alabama Ave SW Birmingham, AL	3.0	1.0	1099	$1,020	$0.93	9d	1	0.25mi
1100 Cotton Ave SW Unit b Birmingham, AL	2.0	1.5	816	$873	$1.07	9d	1	0.34mi
521 16th St SW Unit 523 Birmingham, AL	2.0	1.0	800	$800	$1.00	139d	1	0.46mi
916 14th St SW Unit F Birmingham, AL	2.0	1.0	800	$800	$1.00	107d	1	0.48mi
916 14th St SW Unit F Birmingham, AL	2.0	1.0	870	$800	$0.92	139d	1	0.48mi
916 14th St SW Unit A Birmingham, AL	2.0	1.0	870	$800	$0.92	119d	1	0.48mi
914 14th St SW Unit B Birmingham, AL	1.0	1.0	580	$600	$1.03	107d	1	0.48mi
914 14th St SW Unit A Birmingham, AL	1.0	1.0	577	$600	$1.04	119d	1	0.48mi
914 14th St SW Unit B Birmingham, AL	1.0	1.0	577	$700	$1.21	119d	1	0.48mi
719 Washington Ave SW Birmingham, AL	3.0	1.0	1064	$950	$0.89	107d	1	0.56mi
217 12th St W Birmingham, AL	2.0	1.0	800	$800	$1.00	63d	1	0.57mi
219 12th St W Birmingham, AL	2.0	1.0	800	$800	$1.00	63d	1	0.58mi
219 12th St W Birmingham, AL	2.0	1.0	800	$799	$1.00	119d	1	0.58mi
132 17th St SW Birmingham, AL	2.0	1.0	738	$945	$1.28	139d	1	0.66mi
1116 4th Ave W Birmingham, AL	2.0	1.0	750	$600	$0.80	65d	1	0.72mi
1024 4th Ave W Unit B Birmingham, AL	2.0	1.0	840	$823	$0.98	139d	1	0.72mi
1000 4th Ave W Unit 3 Birmingham, AL	2.0	1.0	840	$773	$0.92	9d	1	0.74mi
1000 4th Ave W Unit 4 Birmingham, AL	2.0	1.0	840	$823	$0.98	119d	1	0.74mi
1621 2nd Ct W Birmingham, AL	3.0	1.0	1074	$1,095	$1.02	9d	1	0.75mi
908 4th Ave W Birmingham, AL	2.0	1.0	700	$745	$1.06	119d	1	0.76mi
600 Princeton Ave SW Birmingham, AL	2.0	1.0	800	$900	$1.12	9d	1	0.77mi
834 4th Ter W Unit 836 Birmingham, AL	2.0	1.0	800	$850	$1.06	82d	1	0.90mi
1233 15th Way SW Birmingham, AL	3.0	1.0	1119	$1,050	$0.94	139d	1	0.90mi
220 19th St SW Unit 220 Birmingham, AL	2.0	1.0	650	$700	$1.08	65d	1	0.91mi
413 Fulton Ave SW Birmingham, AL	3.0	1.0	940	$525	$0.56	98d	1	0.92mi
624 4th Ct W Birmingham, AL	3.0	1.5	992	$1,250	$1.26	139d	1	0.94mi
2916 24th Street Ensley Birmingham, AL	2.0	1.0	850	$590	$0.69	119d	1	0.96mi
2832 25th Street Ensley Birmingham, AL	3.0	2.0	924	$1,195	$1.29	4d	1	0.97mi
261 3rd Ave SW Birmingham, AL	2.0	1.0	552	$800	$1.45	9d	1	0.99mi
1332 15th Pl SW Birmingham, AL	2.0	1.0	1115	$950	$0.85	99d	1	1.01mi
1908 Princeton Ct SW Birmingham, AL	2.0	1.0	896	$900	$1.00	5d	1	1.07mi
1933 Saint Charles Ct SW Birmingham, AL	3.0	1.0	1106	$1,050	$0.95	119d	1	1.09mi
1508 Dennison Ave SW Birmingham, AL	2.0	1.0	924	$800	$0.87	9d	1	1.10mi
617 7th St W Birmingham, AL	3.0	1.5	1120	$1,175	$1.05	139d	1	1.13mi
2028 Lee Ter SW Birmingham, AL	2.0	1.0	884	$695	$0.79	139d	1	1.20mi
2421 29th Street Ensley Unit C Birmingham, AL	2.0	1.0	950	$703	$0.74	119d	1	1.27mi

Listing history 50 events

1. 2026-09-24
   days on market $125,000 Active 182 DOM
2. 2026-09-23
   days on market $125,000 Active 181 DOM
3. 2026-09-22
   days on market $125,000 Active 180 DOM
4. 2026-09-21
   days on market $125,000 Active 179 DOM
5. 2026-09-20
   days on market $125,000 Active 178 DOM
6. 2026-09-19
   days on market $125,000 Active 177 DOM
7. 2026-09-18
   days on market $125,000 Active 176 DOM
8. 2026-09-17
   days on market $125,000 Active 175 DOM
9. 2026-09-16
   days on market $125,000 Active 174 DOM
10. 2026-09-15
    days on market $125,000 Active 173 DOM
11. 2026-09-14
    days on market $125,000 Active 172 DOM
12. 2026-09-13
    days on market $125,000 Active 171 DOM
13. 2026-09-12
    days on market $125,000 Active 170 DOM
14. 2026-09-11
    days on market $125,000 Active 169 DOM
15. 2026-09-05
    days on market $125,000 Active 163 DOM
16. 2026-09-04
    days on market $125,000 Active 162 DOM
17. 2026-09-03
    days on market $125,000 Active 161 DOM
18. 2026-08-31
    days on market $125,000 Active 158 DOM
19. 2026-08-30
    days on market $125,000 Active 157 DOM
20. 2026-08-29
    days on market $125,000 Active 156 DOM
21. 2026-08-28
    days on market $125,000 Active 155 DOM
22. 2026-08-27
    days on market $125,000 Active 154 DOM
23. 2026-08-25
    days on market $125,000 Active 152 DOM
24. 2026-08-24
    days on market $125,000 Active 151 DOM
25. 2026-08-23
    days on market $125,000 Active 150 DOM
26. 2026-08-22
    days on market $125,000 Active 149 DOM
27. 2026-08-21
    days on market $125,000 Active 148 DOM
28. 2026-08-20
    days on market $125,000 Active 147 DOM
29. 2026-08-19
    days on market $125,000 Active 146 DOM
30. 2026-08-18
    days on market $125,000 Active 145 DOM
31. 2026-08-17
    days on market $125,000 Active 144 DOM
32. 2026-08-16
    days on market $125,000 Active 143 DOM
33. 2026-08-15
    days on market $125,000 Active 142 DOM
34. 2026-08-14
    days on market $125,000 Active 141 DOM
35. 2026-08-13
    remarks 595-char remark
36. 2026-08-13
    days on market $125,000 Active 140 DOM
37. 2026-08-12
    days on market $125,000 Active 139 DOM
38. 2026-08-11
    days on market $125,000 Active 138 DOM
39. 2026-08-10
    days on market $125,000 Active 137 DOM
40. 2026-08-09
    days on market $125,000 Active 136 DOM
41. 2026-08-08
    days on market $125,000 Active 135 DOM
42. 2026-08-07
    days on market $125,000 Active 134 DOM
43. 2026-08-06
    days on market $125,000 Active 133 DOM
44. 2026-08-05
    days on market $125,000 Active 132 DOM
45. 2026-08-04
    days on market $125,000 Active 131 DOM
46. 2026-08-03
    days on market $125,000 Active 130 DOM
47. 2026-07-31
    days on market $125,000 Active 127 DOM
48. 2026-07-30
    days on market $125,000 Active 126 DOM
49. 2026-07-30
    days on market $125,000 Active 125 DOM
50. 2026-07-28
    days on market $125,000 Active 124 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

Taxation est. · year 1

• Rental income: $22,440
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$3,636
• Taxable income: $5,711
• Est. tax owed @ 24.0%: −$1,371
• After-tax cash flow: $5,991/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

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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%

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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%

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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

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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