With the release of iOS 11.2.1 an essential feature of my Apple TV was removed
You can buy an Apple TV 4 (not 4K), which is cheaper. Or if you have an iPad model that can be updated to iOS 11 (which is Air/Air 2, 5th gen or newer, or mini 2 or newer) use that as your home hub.

Otherwise you are out of luck. Even if 3rd generation Apple TV had a jailbreak available (it does not) to patch this feature back in, you're talking about encrypted communication between Apple devices and Apple's servers, which is extremely unlikely to be able to be replicated by a third party to reenable it.