8029 3rd Ave S · Birmingham, AL 35206

$89,900

1 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 94 Days on market

Built 1930 7,840 sqft lot $74/sqft · 26% below area Est $122k · 26% under

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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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.2/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 3-bedroom, 1-bath single-family home offering comfort and space both inside and out. The inviting living area is perfect for relaxing evenings. Step outside to a large backyard with plenty of room for entertaining, play, or future customization. A wonderful opportunity to enjoy indoor comfort paired with generous outdoor living.

Key facts

• Large backyard
• Outdoor living
• 7,840 sq ft lot

Tags

• LARGE BACKYARD
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $68 ($817/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($919 rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 6.2% in Birmingham — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 rising (+1.8%/yr); 128 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% 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 $622 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 94 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 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: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 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 1930 — 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: 1.02% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 8.2

CMA / ARV

• ARV (median comp): $121,941
• List price: $89,900
• Delta: -26.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8035 4th Ave S	0.08mi	2/2.0 (+1)	1,096 (-10%)	8mo	$50,000	$46	64
740 81st Pl S	0.38mi	2/2.0 (+1)	1,137 (-6%)	1mo	$40,000	$35	62
8032 5th Ave S	0.13mi	2/1.0 (+1)	1,110 (-9%)	18mo	$55,000	$50	60
8229 4th Ave S	0.28mi	2/1.0 (+1)	1,064 (-12%)	15mo	$85,000	$80	48
426 81st St N	0.67mi	2/1.0 (+1)	1,164 (-4%)	11mo	$43,000	$37	48
7907 5th Ave	0.70mi	2/2.0 (+1)	1,240 (+2%)	9mo	$46,250	$37	47
7820 8th Ave S	0.57mi	2/1.0 (+1)	1,123 (-8%)	11mo	$22,000	$20	47
718 78th St S	0.43mi	2/1.0 (+1)	1,037 (-15%)	8mo	$60,000	$58	44
751 79th Pl S	0.46mi	2/1.0 (+1)	1,062 (-13%)	19mo	$137,500	$129	37
630 77th St S	0.64mi	2/2.0 (+1)	1,106 (-9%)	17mo	$65,000	$59	32
7845 8th Ave S	0.58mi	2/1.0 (+1)	1,068 (-12%)	23mo	$149,000	$140	28

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-11,274
• Equity at exit: $13,404

10-year hold

• IRR: -5.4%
• Equity multiple: 0.67×
• Total profit: $-8,408
• Equity at exit: $7,773

Cash invested: $25,172 (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 35206

• Home prices YoY: -32.0%
• Rents YoY: 1.8%
• Active inventory: 128
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $919 high
• Mortgage (P&I): −$471
• Tax from tax record: −$83 /mo · $990/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $68

Break-even live

Break-even rent $833

Max offer price $89,900

Occupancy floor 88%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8129 2nd Ave S Unit B Birmingham, AL	2.0	1.0	900	$800	$0.89	43d	1	0.12mi
7801 3rd Ave S Unit B Birmingham, AL	2.0	1.5	1100	$1,000	$0.91	43d	1	0.31mi
8240 2nd Ave S Birmingham, AL	2.0	1.0	990	$875	$0.88	23d	1	0.31mi
8122 Rugby Ave Unit B Birmingham, AL	2.0	1.0	900	$795	$0.88	43d	1	0.39mi
624 83rd Pl S Birmingham, AL	2.0	1.0	780	$975	$1.25	43d	1	0.45mi
764 81st St S Unit B Birmingham, AL	2.0	1.0	800	$800	$1.00	43d	1	0.45mi
7728 1st Ave S Apt C Birmingham, AL	2.0	1.0	950	$950	$1.00	43d	1	0.46mi
636 83rd Pl S Birmingham, AL	2.0	2.0	1062	$1,175	$1.11	43d	1	0.48mi
7701 7th Ave S Birmingham, AL	2.0	1.0	800	$850	$1.06	23d	1	0.50mi
7728 Rugby Ave Birmingham, AL	2.0	1.0	700	$850	$1.21	43d	1	0.52mi
409 Oporto Madrid Blvd Unit J Birmingham, AL	1.0	1.0	952	$850	$0.89	43d	1	0.53mi
7740 Rugby Ave Unit 2 Birmingham, AL	2.0	1.0	800	$1,000	$1.25	43d	1	0.53mi
7740 Rugby Ave Unit b Birmingham, AL	2.0	1.0	800	$1,100	$1.38	43d	1	0.53mi
7825 Rugby Ct Birmingham, AL	2.0	1.0	929	$875	$0.94	21d	1	0.54mi
630 77th St S Birmingham, AL	2.0	2.0	1100	$983	$0.89	2d	1	0.64mi
8229 9th Ave S Birmingham, AL	2.0	1.0	997	$1,195	$1.20	2d	1	0.68mi
7808 Vienna Ave Birmingham, AL	2.0	1.0	904	$850	$0.94	43d	1	0.73mi
425 87th St S Birmingham, AL	2.0	1.0	890	$1,077	$1.21	43d	1	0.78mi
7119 1st Ave S Birmingham, AL	2.0	1.0	720	$1,000	$1.39	43d	1	1.04mi
7005 2nd Ave S Birmingham, AL	2.0	1.0	939	$950	$1.01	43d	1	1.18mi
201 70th St S Birmingham, AL	2.0	1.0	989	$950	$0.96	43d	1	1.19mi
8917 Roebuck Blvd Apt 11 Birmingham, AL	2.0	1.0	880	$725	$0.82	16d	1	1.30mi

Listing history 13 events

1. 2026-06-18
   days on market $89,900 Active 94 DOM
2. 2026-06-17
   days on market $89,900 Active 93 DOM
3. 2026-06-16
   days on market $89,900 Active 92 DOM
4. 2026-06-15
   days on market $89,900 Active 91 DOM
5. 2026-06-13
   statusdays on market $89,900 Active 89 DOM
6. 2026-05-04
   status Pending 340-char remark

   Show marketing remark (340 chars)

   Beautiful 3-bedroom, 1-bath single-family home offering comfort and space both inside and out. The inviting living area is perfect for relaxing evenings. Step outside to a large backyard with plenty of room for entertaining, play, or future customization. A wonderful opportunity to enjoy indoor comfort paired with generous outdoor living.

7. 2026-02-06
   listed $89,900 Active 340-char remark

   Show marketing remark (340 chars)

   Beautiful 3-bedroom, 1-bath single-family home offering comfort and space both inside and out. The inviting living area is perfect for relaxing evenings. Step outside to a large backyard with plenty of room for entertaining, play, or future customization. A wonderful opportunity to enjoy indoor comfort paired with generous outdoor living.

8. 2023-12-07
   soldstatus $7,899,000
9. 2022-03-01
   soldstatus $118,640
10. 2020-01-31
    soldstatus $59,000 Sold 499-char remark

    Show marketing remark (499 chars)

    Cute updated Bungalow in upcoming South East Lake! Nice large front porch and enclosed sun room on the back overlooking the flat lot. Rear parking with carport. This home has new carpet throughout the living area and bedrooms, gorgeous tiled bath and new kitchen flooring. Custom tiled shower, new vanity and toilet, new plumbing. Nice kitchen cabinets and new counter tops. This home has a new roof, updated wiring, fresh paint and landscaped. Ready for a new owner or prime investment opportunity

11. 2020-01-30
    historical Contingent 499-char remark

    Show marketing remark (499 chars)

    Cute updated Bungalow in upcoming South East Lake! Nice large front porch and enclosed sun room on the back overlooking the flat lot. Rear parking with carport. This home has new carpet throughout the living area and bedrooms, gorgeous tiled bath and new kitchen flooring. Custom tiled shower, new vanity and toilet, new plumbing. Nice kitchen cabinets and new counter tops. This home has a new roof, updated wiring, fresh paint and landscaped. Ready for a new owner or prime investment opportunity

12. 2019-11-21
    listed $69,500 Active 499-char remark

    Show marketing remark (499 chars)

    Cute updated Bungalow in upcoming South East Lake! Nice large front porch and enclosed sun room on the back overlooking the flat lot. Rear parking with carport. This home has new carpet throughout the living area and bedrooms, gorgeous tiled bath and new kitchen flooring. Custom tiled shower, new vanity and toilet, new plumbing. Nice kitchen cabinets and new counter tops. This home has a new roof, updated wiring, fresh paint and landscaped. Ready for a new owner or prime investment opportunity

13. 1991-11-22
    soldstatus $33,000

ⓘ 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: $990 · $83/mo
• Projected year-2 tax: $990 · $83/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 9/10 Extreme FEMA zone X (unshaded) · 99% 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 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,027
• − Mortgage interest: −$5,036
• − Property taxes: −$990
• − Insurance: −$1,247
• − Repairs & maintenance: −$882
• − Management: −$882
• − Depreciation: −$2,615
• Taxable loss: −$626
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $967/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): 15,621
• Household income: $42,549
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 1169.0

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 (73%)
• Race & ethnicity: Black 73% White 22% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 0%

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: ▼ -68.70%
• Current HPI: 146.2168
• Rent YoY: ▲ 1.82%
• 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

+172.4% since first listed

8 events — show timeline

• 2026-05-04 Pending — Greater Alabama MLS
• 2026-02-06 Listed $89,900 Greater Alabama MLS
• 2023-12-07 Sold (Public Records) $7,899,000 Public Records
• 2022-03-01 Sold (Public Records) $118,640 Public Records
• 2020-01-31 Sold (MLS) $59,000 Greater Alabama MLS
• 2020-01-30 Contingent — Greater Alabama MLS
• 2019-11-21 Listed $69,500 Greater Alabama MLS
• 1991-11-22 Sold (Public Records) $33,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $990 · +2.4% YoY. Source: county tax records.