1204 43rd St N · Birmingham, AL 35212

$41,000

3 bd · 1.0 ba · 1,281 sqft · SingleFamily public records · 103 Days on market

Built 1951 8,712 sqft lot $32/sqft · 42% below area Est $71k · 42% under

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

Listing remarks MLS

High-upside investment opportunity in Birmingham. Perfect for a flip or BRRRR play, this property sits in a solid rental market with steady tenant demand and strong investor activity. With the right updates, there’s clear value-add potential and room for strong returns. First serious buyer takes it.

Key facts

• 8,712 sq ft lot
• Built 1951
• Listed 103 days

🏷️ Possibly a rental listed for sale. The $41,000 price doesn't fit this home's estimated sale value (~$70,518) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $41k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $41k).
• Recommended offer: $37k (9.0% below list) — sets the bar for market timing.
• Cap rate 25.7% 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: 79 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 40% of the median local income ($37k/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 $283 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $11k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $41k implies a 228% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $37,310 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 3.00% ✓
• Cap rate: 25.72%
• Cash-on-cash: 69.37%
• DSCR: 4.09
• GRM: 2.8

CMA / ARV

• ARV (median comp): $70,518
• List price: $41,000
• Delta: -41.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1320 45th St	0.29mi	3/1.0	1,341 (+5%)	6mo	$106,000	$79	74
4228 12th Ct N	0.08mi	2/2.0 (-1)	1,254 (-2%)	15mo	$70,500	$56	71
819 45th Pl	0.50mi	3/2.0	1,279 (-0%)	11mo	$138,000	$108	63
750 39th St	0.70mi	3/1.0	1,344 (+5%)	2mo	$21,000	$16	57
832 49th St N	0.70mi	3/2.0	1,322 (+3%)	2mo	$195,000	$148	56
829 49th St N	0.73mi	3/2.0	1,322 (+3%)	1mo	$205,000	$155	55
837 49th St N	0.72mi	3/2.0	1,322 (+3%)	2mo	$200,000	$151	55
833 49th St N	0.73mi	3/2.0	1,231 (-4%)	1mo	$200,000	$162	54
904 46th St	0.41mi	3/1.0	1,130 (-12%)	13mo	$80,000	$71	51
1401 46th Street Ensley	0.34mi	3/1.0	1,089 (-15%)	13mo	$48,356	$44	49
1114 Coosa St	0.50mi	3/1.0	1,114 (-13%)	16mo	$52,000	$47	42
913 44th St N	0.28mi	4/2.0 (+1)	1,450 (+13%)	17mo	$60,000	$41	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 1.76×
• Total profit: $8,756
• Equity at exit: $6,113

10-year hold

• IRR: 27.4%
• Equity multiple: 3.46×
• Total profit: $28,275
• Equity at exit: $3,545

Cash invested: $11,480 (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 35212

• Active inventory: 79
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$215
• Tax from tax record: −$76 /mo · $918/yr
• Insurance: −$17
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $237

Break-even live

Break-even rent $931

Max offer price $41,000

Occupancy floor 76%

Sensitivity live

Price	-10% $260	-5% $249	+0% $237	+5% $226	+10% $214
Rent	-10% $140	-5% $189	+0% $237	+5% $286	+10% $334
Rate	-1.0pp $258	-0.5pp $248	base $237	+0.5pp $227	+1.0pp $216

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: $10,250
• Closing costs: $1,230
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1117 42nd Pl N Birmingham, AL	3.0	1.0	1026	$900	$0.88	45d	1	0.11mi
1304 46th St N Birmingham, AL	3.0	1.0	1683	$670	$0.40	17d	1	0.36mi
1017 Cahaba St Birmingham, AL	2.0	2.0	1035	$1,350	$1.30	4d	1	0.38mi
813 42nd Pl N Birmingham, AL	3.0	2.0	1424	$1,285	$0.90	45d	1	0.41mi
934 47th St N Birmingham, AL	3.0	1.0	972	$1,000	$1.03	24d	1	0.47mi
3920 11th Ave N Birmingham, AL	3.0	2.0	1200	$1,025	$0.85	3d	1	0.48mi
1101 47th St N Birmingham, AL	3.0	2.0	1296	$1,200	$0.93	24d	1	0.50mi
941 47th Pl N Birmingham, AL	3.0	1.0	879	$950	$1.08	24d	1	0.58mi
1601 48th St N Birmingham, AL	3.0	1.0	1313	$1,200	$0.91	24d	1	0.67mi
4108 7th Ave N Birmingham, AL	3.0	1.0	1100	$1,350	$1.23	24d	1	0.71mi
236 48th St N Birmingham, AL	3.0	2.0	1318	$1,750	$1.33	4d	1	0.72mi
821 50th St N Birmingham, AL	3.0	1.5	1416	$1,523	$1.08	2d	1	0.81mi
222 49th St N Birmingham, AL	3.0	2.0	1556	$1,800	$1.16	24d	1	0.81mi
233 52nd St N Birmingham, AL	2.0	1.0	1430	$1,200	$0.84	45d	1	0.95mi
1705 52nd St N Birmingham, AL	3.0	1.5	1214	$1,100	$0.91	45d	1	1.05mi
1515 36th Pl N Birmingham, AL	3.0	2.0	1204	$1,273	$1.06	45d	1	1.09mi
4236 39th Ave N Birmingham, AL	3.0	2.0	1000	$1,195	$1.20	24d	1	1.12mi
4231 40th Ave N Birmingham, AL	3.0	1.0	1272	$850	$0.67	20d	1	1.16mi
3601 Norwood Blvd Birmingham, AL	3.0	2.0	1558	$1,323	$0.85	4d	1	1.17mi
4345 2nd Ave S Birmingham, AL	3.0	2.0	988	$1,800	$1.82	24d	1	1.19mi
4028 40th Ave N Birmingham, AL	3.0	1.0	1186	$950	$0.80	45d	1	1.23mi
4220 40th Ct N Birmingham, AL	3.0	1.0	948	$1,200	$1.27	45d	1	1.25mi
3509 Norwood Blvd Birmingham, AL	2.0	1.0	943	$1,100	$1.17	4d	1	1.26mi
1720 34th Pl N Birmingham, AL	3.0	3.0	1861	$2,200	$1.18	2d	1	1.33mi
5811 2nd Ave N Birmingham, AL	2.0	1.0	1000	$1,200	$1.20	4d	1	1.37mi
4217 43rd Ave N Birmingham, AL	3.0	1.0	1140	$1,200	$1.05	4d	1	1.38mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	15d	1	1.43mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	45d	1	1.43mi
620 52nd St S Birmingham, AL	3.0	2.0	1346	$2,750	$2.04	24d	1	1.43mi
1405 33rd St N Birmingham, AL	3.0	1.0	952	$990	$1.04	24d	1	1.44mi
2807 34th St N Birmingham, AL	4.0	2.0	1556	$1,100	$0.71	45d	1	1.48mi

Listing history 15 events

1. 2026-06-17
   days on market $41,000 Active 103 DOM
2. 2026-06-16
   days on market $41,000 Active 102 DOM
3. 2026-06-15
   days on market $41,000 Active 101 DOM
4. 2026-06-13
   days on market $41,000 Active 99 DOM
5. 2026-06-10
   days on market $41,000 Active 96 DOM
6. 2026-06-09
   days on market $41,000 Active 95 DOM
7. 2026-06-08
   days on market $41,000 Active 94 DOM
8. 2026-06-07
   days on market $41,000 Active 93 DOM
9. 2026-06-03
   days on market $41,000 Active 89 DOM
10. 2026-06-02
    days on market $41,000 Active 88 DOM
11. 2026-06-01
    days on market $41,000 Active 87 DOM
12. 2026-05-31
    days on market $41,000 Active 86 DOM
13. 2026-03-06
    listed $41,000 Active 306-char remark

    Show marketing remark (306 chars)

    High-upside investment opportunity in Birmingham. Perfect for a flip or BRRRR play, this property sits in a solid rental market with steady tenant demand and strong investor activity. With the right updates, there’s clear value-add potential and room for strong returns. First serious buyer takes it.

14. 2022-06-13
    price $25,000
15. 2007-07-26
    soldstatus $12,500

ⓘ 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: $918 · $76/mo
• Projected year-2 tax: $918 · $76/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 6/10 Major FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,768
• − Mortgage interest: −$2,297
• − Property taxes: −$918
• − Insurance: −$5,324
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$1,193
• Taxable income: $2,675
• Est. tax owed @ 24.0%: −$642
• After-tax cash flow: $2,204/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): 10,160
• Household income: $36,633
• Rent vs Own: 55.4% rent · 44.6% own
• Severe rent burden: 798.0

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 (68%)
• Race & ethnicity: Black 68% White 24% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Slovak 2% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -190.24%
• Current HPI: 120.1264
• Rent YoY: —
• 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

+228.0% since first listed

3 events — show timeline

• 2026-03-06 Listed $41,000 Greater Alabama MLS
• 2022-06-13 Price Changed $25,000 Greater Alabama MLS
• 2007-07-26 Sold (Public Records) $12,500 Public Records

Property tax history

+0.1%/yr

Latest (2025): $918 · +0.0% YoY. Source: county tax records.