1108 Chapel Creek Dr #1108 · Hoover, AL 35226

$149,900

3 bd · 2.0 ba · 1,414 sqft · Condo · 29 Days on market

Built 1970

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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 +25.6/30.0
• 1% rule +8.6/10.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a Condo? This could be it! Living room with fireplace and huge kitchen with large dining room attached. Nice sized bedrooms and large bathrooms. Great community amentities such as swimming pool and weight room. Move-IN Ready!

Key facts

• Private bath
• Covered patio
• Open-concept living

Tags

• OPEN-CONCEPT LIVING
• FUNCTIONAL KITCHEN LAYOUT
• PRIVATE BATH
• COVERED PATIO
• EASY ACCESS TO I-65
• EASY ACCESS TO I-459

Property features AI

Finance

• Other: Unit number 1108; Located in the Patton Creek Condominium community
• HOA & community: Monthly condo fee of $425; HOA fees cover building insurance, water, sewage service, garbage collection, pest control, common grounds maintenance, and utilities for common areas

Exterior

• Parking: Unassigned parking
• Utilities: Public water; Connected sewer; Underground utilities; Electric water heater; Internet service available
• Home design: Condominium, unit on level 1; 4-side brick construction
• Construction: Slab foundation; Existing (pre-owned) unit
• Exterior features: Balcony; Community in-ground pool with perimeter fencing; Street lights; Tennis courts; Swimming allowed in community

Interior

• Kitchen: Dishwasher (built-in); Built-in microwave; Electric oven; Electric stove; Refrigerator; Laminate countertops
• Bedrooms: Master bedroom (main level); Two additional bedrooms (main level); Walk-in closets
• Flooring: Hardwood; Tile
• Bathrooms: Two full bathrooms; Tub/shower combo
• Heating & cooling: Central heating; Central electric cooling
• Interior features: Hardwood and tile floors; Ceilings: other (see remarks); Living room with brick, wood-burning fireplace
• Laundry & utility: Laundry on main level in a closet; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Zoned schools: Gwin Elementary School (math 45% / reading 63%, grade C, #96 of 627 statewide, top 16%, 515 students, 44% FRL); Hoover High School (math 46% / reading 47%, grade D-, #17 of 305 statewide, top 5%, 2,841 students, 32% FRL) — zoned schools average 38% FRL vs 19% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 203 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $1k 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 + 3.7% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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.
• Current owner paid $69k; list at $150k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.36% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.17%
• DSCR: 1.45
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.7% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-38
• Equity at exit: $22,351

10-year hold

• IRR: 10.5%
• Equity multiple: 1.85×
• Total profit: $35,797
• Equity at exit: $12,961

Cash invested: $41,972 (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 35226

• Rents YoY: 3.7%
• Active inventory: 203
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,035 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA est. from 1 same-building comp: −$216
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $356

Break-even live

Break-even rent $1,585

Max offer price $149,900

Occupancy floor 78%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1755 Napier Dr Hoover, AL	4.0	3.0	1722	$2,250	$1.31	43d	1	0.56mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $149,900 Active 29 DOM
2. 2026-06-17
   days on market $149,900 Active 28 DOM
3. 2026-06-16
   days on market $149,900 Active 27 DOM
4. 2026-06-15
   days on market $149,900 Active 26 DOM
5. 2026-06-13
   days on market $149,900 Active 24 DOM
6. 2026-06-10
   days on market $149,900 Active 21 DOM
7. 2026-06-09
   days on market $149,900 Active 20 DOM
8. 2026-06-08
   days on market $149,900 Active 19 DOM
9. 2026-06-07
   days on market $149,900 Active 18 DOM
10. 2026-06-05
    days on market $149,900 Active 15 DOM
11. 2026-06-03
    days on market $149,900 Active 14 DOM
12. 2026-06-02
    days on market $149,900 Active 13 DOM
13. 2026-06-01
    days on market $149,900 Active 12 DOM
14. 2026-05-31
    days on market $149,900 Active 11 DOM
15. 2026-05-21
    listed $149,900 Active
16. 2025-08-25
    historical $1,350
17. 2025-08-02
    listed $1,350
18. 2013-12-13
    soldstatus $69,000 237-char remark

    Show marketing remark (237 chars)

    Looking for a Condo? This could be it! Living room with fireplace and huge kitchen with large dining room attached. Nice sized bedrooms and large bathrooms. Great community amentities such as swimming pool and weight room. Move-IN Ready!

19. 2013-08-12
    listed $79,900 237-char remark

    Show marketing remark (237 chars)

    Looking for a Condo? This could be it! Living room with fireplace and huge kitchen with large dining room attached. Nice sized bedrooms and large bathrooms. Great community amentities such as swimming pool and weight room. Move-IN Ready!

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,417
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − HOA: −$2,592
• − Depreciation: −$4,361
• Taxable income: $2,163
• Est. tax owed @ 24.0%: −$519
• After-tax cash flow: $3,748/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): 38,588
• Household income: $124,516
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 539.0

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 White (73%)
• Race & ethnicity: White 73% Black 13% Asian 8% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Italian 6% Slovak 3% Serbian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 2% Other Indo-European 2% Chinese 2%

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: ▼ -200.60%
• Current HPI: 214.5202
• Rent YoY: ▲ 3.70%
• 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

+87.6% since first listed

5 events — show timeline

• 2026-05-21 Listed $149,900 Greater Alabama MLS
• 2025-08-25 Rental Removed $1,350 GALMLS
• 2025-08-02 Listed for Rent $1,350 GALMLS
• 2013-12-13 Sold (MLS) $69,000 Greater Alabama MLS
• 2013-08-12 Listed $79,900 Greater Alabama MLS