3101 Lorna Rd #1813 · Hoover, AL 35216

$115,000

1 bd · 1.0 ba · 640 sqft · Condo public records · 27 Days on market

Built 1969 $180/sqft · 8% above area Est $107k · 8% over

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Why this score? — see what drove the F 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 +7.9/30.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• ARV discount +4.0/15.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully renovated one-bedroom condo in the heart of Hoover! This stylish home features an open-concept floorplan perfect for modern living and entertaining. The kitchen shines with granite countertops, new stainless steel appliances, and designer finishes throughout. Plantation shutters add charm and natural light, while the spacious living area flows seamlessly to a private patio, ideal for relaxing or enjoying your morning coffee. Located on the ground level for easy access, this unit offers both comfort and convenience. Enjoy community amenities and a prime location just minutes from shopping, dining, and major highways. Don’t miss your chance, schedule your showing today before this one is gone!

Key facts

• Ground level
• Plantation shutters
• Private patio

Tags

• OPEN-CONCEPT FLOORPLAN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• PLANTATION SHUTTERS
• PRIVATE PATIO
• GROUND LEVEL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (5.5% below list).
• Recommended offer: $109k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 2.4% in Hoover — 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 84/100 on livability (#1 in AL, #630 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• Hoover City (urban): math 45% / reading 66% proficiency, ranked #8 of 129 in AL (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent is only 18% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 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

• It's been on market 27 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $108,713 (5.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.95% ✗
• Cap rate: 5.03%
• Cash-on-cash: -4.51%
• DSCR: 0.80
• GRM: 8.8

CMA / ARV

• ARV (median comp): $106,603
• List price: $115,000
• Delta: 7.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: -24.4%
• Equity multiple: 0.17×
• Total profit: $-26,662
• Equity at exit: $17,147

10-year hold

• IRR: -20.8%
• Equity multiple: -0.07×
• Total profit: $-34,434
• Equity at exit: $9,943

Cash invested: $32,200 (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 35216

• Rents YoY: 2.6%
• Active inventory: 135
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,087 high
• Mortgage (P&I): −$603
• Tax from tax record: −$54 /mo · $647/yr
• Insurance: −$48
• HOA est. from 2 same-building comps: −$275
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $-121

Break-even live

Break-even rent $1,240

Max offer price $93,614

Occupancy floor —

Sensitivity live

Price	-10% $-56	-5% $-89	+0% $-121	+5% $-154	+10% $-186
Rent	-10% $-207	-5% $-164	+0% $-121	+5% $-78	+10% $-35
Rate	-1.0pp $-63	-0.5pp $-92	base $-121	+0.5pp $-151	+1.0pp $-181

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3101 Lorna Rd #1718 Hoover, AL	1.0	1.0	640	$1,095	$1.71	3d	1	0.02mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,137	$1.27	44d	1	0.45mi
2262-2284 Chapel Hill Rd Unit 2262-A Hoover, AL	1.0	1.0	686	$1,074	$1.57	44d	1	0.55mi
2014 Montreat Pkwy Vestavia Hills, AL	1.0	1.0	690	$1,045	$1.51	24d	1	0.71mi
2014 Montreat Pkwy Unit D Vestavia Hills, AL	1.0	1.0	690	$1,045	$1.51	4d	1	0.72mi
3400 Treeline Ct Hoover, AL	1.0–3.0	1.0–2.0	950	$960	$1.01	22d	13	0.86mi
1716 Vestawood Ct Unit 1722C Vestavia Hills, AL	1.0	1.0	697	$1,059	$1.52	44d	1	1.07mi
3565 Lorna Rd Hoover, AL	1.0–3.0	1.0–1.5	975	$775	$0.79	44d	1	1.28mi
2149 Emerald Pointe Dr Birmingham, AL	1.0–3.0	1.0–1.5	885	$899	$1.02	24d	1	1.31mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$899	$0.90	44d	1	1.42mi
3627 Cedarbrook Dr Hoover, AL	1.0–2.0	1.0–2.0	894	$865	$0.97	19d	1	1.43mi
2071 Alpine Vlg Birmingham, AL	1.0–3.0	1.0–2.0	1000	$825	$0.82	3d	9	1.49mi

HOA detail condo

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

Listing history 21 events

1. 2026-05-14
   status Pending 734-char remark

   Show marketing remark (734 chars)

   Welcome to this beautifully renovated one-bedroom condo in the heart of Hoover! This stylish home features an open-concept floorplan perfect for modern living and entertaining. The kitchen shines with granite countertops, new stainless steel appliances, and designer finishes throughout. Plantation shutters add charm and natural light, while the spacious living area flows seamlessly to a private patio, ideal for relaxing or enjoying your morning coffee. Located on the ground level for easy access, this unit offers both comfort and convenience. Enjoy community amenities and a prime location just minutes from shopping, dining, and major highways. Don’t miss your chance, schedule your showing today before this one is gone!

2. 2026-05-05
   historical Contingent 734-char remark

   Show marketing remark (734 chars)

   Welcome to this beautifully renovated one-bedroom condo in the heart of Hoover! This stylish home features an open-concept floorplan perfect for modern living and entertaining. The kitchen shines with granite countertops, new stainless steel appliances, and designer finishes throughout. Plantation shutters add charm and natural light, while the spacious living area flows seamlessly to a private patio, ideal for relaxing or enjoying your morning coffee. Located on the ground level for easy access, this unit offers both comfort and convenience. Enjoy community amenities and a prime location just minutes from shopping, dining, and major highways. Don’t miss your chance, schedule your showing today before this one is gone!

3. 2026-04-17
   listed $115,000 Active 734-char remark

   Show marketing remark (734 chars)

   Welcome to this beautifully renovated one-bedroom condo in the heart of Hoover! This stylish home features an open-concept floorplan perfect for modern living and entertaining. The kitchen shines with granite countertops, new stainless steel appliances, and designer finishes throughout. Plantation shutters add charm and natural light, while the spacious living area flows seamlessly to a private patio, ideal for relaxing or enjoying your morning coffee. Located on the ground level for easy access, this unit offers both comfort and convenience. Enjoy community amenities and a prime location just minutes from shopping, dining, and major highways. Don’t miss your chance, schedule your showing today before this one is gone!

4. 2023-06-16
   soldstatus $107,000 Sold 405-char remark

   Show marketing remark (405 chars)

   Welcome to FourSeasons Condo development perfectly located in the heart of Hoover. This development is minutes away from dowtown, UAB, shopping and all the conveniencess BHM offers. The unit has been recently updated throughout and is the perfect investment property or would be ideal for a first time homeowner or someone looking to downsize. Don't miss your opportunity for this turn-key ready property.

5. 2023-06-16
   soldstatus $107,000

   Show marketing remark (405 chars)

   Welcome to FourSeasons Condo development perfectly located in the heart of Hoover. This development is minutes away from dowtown, UAB, shopping and all the conveniencess BHM offers. The unit has been recently updated throughout and is the perfect investment property or would be ideal for a first time homeowner or someone looking to downsize. Don't miss your opportunity for this turn-key ready property.

6. 2023-06-07
   status Pending 405-char remark

   Show marketing remark (405 chars)

   Welcome to FourSeasons Condo development perfectly located in the heart of Hoover. This development is minutes away from dowtown, UAB, shopping and all the conveniencess BHM offers. The unit has been recently updated throughout and is the perfect investment property or would be ideal for a first time homeowner or someone looking to downsize. Don't miss your opportunity for this turn-key ready property.

7. 2023-06-06
   price $109,900 405-char remark

   Show marketing remark (405 chars)

   Welcome to FourSeasons Condo development perfectly located in the heart of Hoover. This development is minutes away from dowtown, UAB, shopping and all the conveniencess BHM offers. The unit has been recently updated throughout and is the perfect investment property or would be ideal for a first time homeowner or someone looking to downsize. Don't miss your opportunity for this turn-key ready property.

8. 2023-06-06
   status Active 405-char remark

   Show marketing remark (405 chars)

   Welcome to FourSeasons Condo development perfectly located in the heart of Hoover. This development is minutes away from dowtown, UAB, shopping and all the conveniencess BHM offers. The unit has been recently updated throughout and is the perfect investment property or would be ideal for a first time homeowner or someone looking to downsize. Don't miss your opportunity for this turn-key ready property.

9. 2023-04-18
   status Pending 405-char remark

   Show marketing remark (405 chars)

   Welcome to FourSeasons Condo development perfectly located in the heart of Hoover. This development is minutes away from dowtown, UAB, shopping and all the conveniencess BHM offers. The unit has been recently updated throughout and is the perfect investment property or would be ideal for a first time homeowner or someone looking to downsize. Don't miss your opportunity for this turn-key ready property.

10. 2023-04-07
    historical Contingent 405-char remark

    Show marketing remark (405 chars)

    Welcome to FourSeasons Condo development perfectly located in the heart of Hoover. This development is minutes away from dowtown, UAB, shopping and all the conveniencess BHM offers. The unit has been recently updated throughout and is the perfect investment property or would be ideal for a first time homeowner or someone looking to downsize. Don't miss your opportunity for this turn-key ready property.

11. 2023-04-01
    listed $104,900 Active 405-char remark

    Show marketing remark (405 chars)

    Welcome to FourSeasons Condo development perfectly located in the heart of Hoover. This development is minutes away from dowtown, UAB, shopping and all the conveniencess BHM offers. The unit has been recently updated throughout and is the perfect investment property or would be ideal for a first time homeowner or someone looking to downsize. Don't miss your opportunity for this turn-key ready property.

12. 2019-03-20
    soldstatus $52,000
13. 2019-03-18
    soldstatus $52,000 Sold
14. 2019-03-07
    historical
15. 2019-02-25
    status Active
16. 2019-02-22
    historical Contingent
17. 2019-02-18
    listed $61,000 Active
18. 2006-06-06
    soldstatus $68,500
19. 2005-06-28
    soldstatus $50,000
20. 2003-01-15
    soldstatus $50,500
21. 1979-11-01
    soldstatus $30,900

ⓘ 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: $647 · $54/mo
• Projected year-2 tax: $647 · $54/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,046
• − Mortgage interest: −$6,442
• − Property taxes: −$647
• − Insurance: −$575
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − HOA: −$3,300
• − Depreciation: −$3,345
• Taxable loss: −$3,351
• Est. tax savings @ 24.0%: +$804
• After-tax cash flow: $-649/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: Hoover City
• NCES district ID: 0100007
• Math proficiency: 45% ▼ -25.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $76,210
• Composite: 49.77/100
• National rank: #1960
• State rank: #8 of 129 in AL

Livability — Hoover

• Score: 84/100
• State rank: #1
• US rank: #630

Category grades

Amenities B- Commute A- Cost of living C Crime A+ Employment A+ Housing A+ Health & safety C User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hoover, AL
• County: Jefferson County · 527,445 people
• City population: 76,805
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 34,327
• Household income: $74,525
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 1747.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 61% Black 24% Hispanic / Latino 8% Asian 5% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Arabic 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: ▼ -259.83%
• Current HPI: 239.8705
• Rent YoY: ▲ 2.59%
• 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

+272.2% since first listed

21 events — show timeline

• 2026-05-14 Pending — Greater Alabama MLS
• 2026-05-05 Contingent — Greater Alabama MLS
• 2026-04-17 Listed $115,000 Greater Alabama MLS
• 2023-06-16 Sold (Public Records) $107,000 Public Records
• 2023-06-16 Sold (MLS) $107,000 Greater Alabama MLS
• 2023-06-07 Pending — Greater Alabama MLS
• 2023-06-06 Price Changed $109,900 Greater Alabama MLS
• 2023-06-06 Relisted — Greater Alabama MLS
• 2023-04-18 Pending — Greater Alabama MLS
• 2023-04-07 Contingent — Greater Alabama MLS
• 2023-04-01 Listed $104,900 Greater Alabama MLS
• 2019-03-20 Sold (Public Records) $52,000 Public Records
• 2019-03-18 Sold (MLS) $52,000 Greater Alabama MLS
• 2019-03-07 Delisted — Greater Alabama MLS
• 2019-02-25 Relisted — Greater Alabama MLS
• 2019-02-22 Contingent — Greater Alabama MLS
• 2019-02-18 Listed $61,000 Greater Alabama MLS
• 2006-06-06 Sold (Public Records) $68,500 Public Records
• 2005-06-28 Sold (Public Records) $50,000 Public Records
• 2003-01-15 Sold (Public Records) $50,500 Public Records
• 1979-11-01 Sold (Public Records) $30,900 Public Records

Property tax history

-6.8%/yr

Latest (2025): $647 · +7.5% YoY. Source: county tax records.