2098 Montreat Cir #2098 · Vestavia Hills, AL 35216

$132,500

2 bd · 2.0 ba · 1,034 sqft · Condo · 76 Days on market

Built 1967 $128/sqft · 26% below area Est $180k · 26% 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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• Schools +6.5/10.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This corner condo two-bedroom, two-bathroom in Vestavia offers both affordability and comfort. Upon entering, you are greeted by a spacious living room that seamlessly connects to the dining area and kitchen. The kitchen is equipped with a dishwasher, a refrigerator, a new microwave and a stove, providing ample storage space for all your culinary needs. The master bedroom features a full bathroom complete with a shower/tub combo. The second bedroom is next to a full-size bathroom. You will have access to two community pools, a clubhouse, and tennis courts. The condo fees encompass sewer, water, garbage collection, termite bond, building insurance, and grounds maintenance. Situated in an excellent location, UAB, Samford, this property is within reach of award-winning schools, restaurants, shopping, Highway 31, and I-65. Great opportunity for an investment property. Come check it out! Make this condo yours!

Key facts

• Corner condo
• Clubhouse
• Tennis courts

Tags

• CORNER CONDO
• SPACIOUS LIVING ROOM
• COMMUNITY POOLS
• CLUBHOUSE
• TENNIS COURTS
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $132k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $132k).
• Recommended offer: $125k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.5% in Vestavia Hills — 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 (#2 in AL, #827 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F, cost of living F.
• Vestavia Hills City (suburban): math 63% / reading 83% proficiency, ranked #2 of 129 in AL (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $916 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.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $90k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,550 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (median comp): $179,842
• List price: $132,500
• Delta: -26.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-5,855
• Equity at exit: $19,756

10-year hold

• IRR: 5.0%
• Equity multiple: 1.36×
• Total profit: $13,379
• Equity at exit: $11,456

Cash invested: $37,100 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,481 high
• Mortgage (P&I): −$695
• Tax est. 1.5%: −$166 /mo · $1,988/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $254

Break-even live

Break-even rent $1,159

Max offer price $132,500

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: $33,125
• Closing costs: $3,975
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2076 Montreat Cir Vestavia Hills, AL	2.0	2.0	1034	$1,600	$1.55	43d	1	0.02mi
2209 Montreat Cir Unit D Vestavia Hills, AL	2.0	2.0	1085	$1,600	$1.47	3d	1	0.09mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,278	$1.43	43d	1	0.17mi
2105 Montreat Pkwy Unit D Vestavia Hills, AL	2.0	1.0	1100	$1,250	$1.14	44d	1	0.22mi
2116 Montreat Ln Apt C Vestavia Hills, AL	2.0	2.0	1148	$1,450	$1.26	43d	1	0.23mi
1716 Vestawood Ct Unit 1715H Vestavia Hills, AL	2.0	2.0	1080	$1,314	$1.22	43d	1	0.46mi
3101 Lorna Rd #924 Hoover, AL	2.0	2.0	1023	$1,750	$1.71	19d	1	0.62mi
3101 Lorna Rd Unit ROAD924 Birmingham, AL	2.0	2.0	965	$1,750	$1.81	1d	1	0.62mi
3101 Lorna Rd Hoover, AL	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	43d	2	0.62mi
2410 Yellow Hammer Hl Birmingham, AL	1.0–2.0	1.0–2.0	969	$1,275	$1.32	11d	4	0.64mi
3299 Warringwood Dr Hoover, AL	2.0	1.5	960	$1,150	$1.20	21d	1	0.77mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$1,149	$1.15	43d	1	0.80mi
2070 Vestavia Park Ct Unit 2023B Vestavia Hills, AL	3.0	2.0	1125	$1,500	$1.33	23d	1	1.01mi
990 Wisteria Pl Birmingham, AL	3.0	2.0	1450	$1,620	$1.12	1d	3	1.13mi
3400 Treeline Ct Hoover, AL	1.0–3.0	1.0–2.0	950	$1,140	$1.20	21d	13	1.47mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $132,500 Active 76 DOM
2. 2026-06-17
   days on market $132,500 Active 75 DOM
3. 2026-06-16
   days on market $132,500 Active 74 DOM
4. 2026-06-15
   days on market $132,500 Active 73 DOM
5. 2026-06-13
   days on market $132,500 Active 71 DOM
6. 2026-06-10
   days on market $132,500 Active 68 DOM
7. 2026-06-09
   days on market $132,500 Active 67 DOM
8. 2026-06-08
   days on market $132,500 Active 66 DOM
9. 2026-06-07
   days on market $132,500 Active 65 DOM
10. 2026-06-03
    days on market $132,500 Active 61 DOM
11. 2026-06-03
    days on market $132,500 Active 60 DOM
12. 2026-06-01
    days on market $132,500 Active 59 DOM
13. 2026-05-31
    days on market $132,500 Active 58 DOM
14. 2026-04-03
    listed $132,500 Active 918-char remark

    Show marketing remark (918 chars)

    This corner condo two-bedroom, two-bathroom in Vestavia offers both affordability and comfort. Upon entering, you are greeted by a spacious living room that seamlessly connects to the dining area and kitchen. The kitchen is equipped with a dishwasher, a refrigerator, a new microwave and a stove, providing ample storage space for all your culinary needs. The master bedroom features a full bathroom complete with a shower/tub combo. The second bedroom is next to a full-size bathroom. You will have access to two community pools, a clubhouse, and tennis courts. The condo fees encompass sewer, water, garbage collection, termite bond, building insurance, and grounds maintenance. Situated in an excellent location, UAB, Samford, this property is within reach of award-winning schools, restaurants, shopping, Highway 31, and I-65. Great opportunity for an investment property. Come check it out! Make this condo yours!

15. 2018-09-06
    soldstatus $90,500 Sold 700-char remark

    Show marketing remark (700 chars)

    This UPDATED Vestavia Hills Condo is one you not want to miss!! Home Features include; NEW kitchen counter tops, tile floor, custom built-in butcher's block, beautiful new kitchen cabinets, crown molding, light fixtures and laminate hardwood floors throughout. The master suite is spacious with a walk-in shower and plentiful closet space. Enjoy the living room with a fireplace, natural light and an adjacent dining area. Relax by the condominium pools, play tennis with family and friends, and gather at the clubhouse. Convenient location by I-65, US Hwy 31 and I-459. Zoned for Vestavia City Schools. New Hot water heater installed in 2013. HVAC Serviced in June 2018. Schedule your showing today!

16. 2018-09-04
    historical Contingent 700-char remark

    Show marketing remark (700 chars)

    This UPDATED Vestavia Hills Condo is one you not want to miss!! Home Features include; NEW kitchen counter tops, tile floor, custom built-in butcher's block, beautiful new kitchen cabinets, crown molding, light fixtures and laminate hardwood floors throughout. The master suite is spacious with a walk-in shower and plentiful closet space. Enjoy the living room with a fireplace, natural light and an adjacent dining area. Relax by the condominium pools, play tennis with family and friends, and gather at the clubhouse. Convenient location by I-65, US Hwy 31 and I-459. Zoned for Vestavia City Schools. New Hot water heater installed in 2013. HVAC Serviced in June 2018. Schedule your showing today!

17. 2018-08-24
    price $95,000 700-char remark

    Show marketing remark (700 chars)

    This UPDATED Vestavia Hills Condo is one you not want to miss!! Home Features include; NEW kitchen counter tops, tile floor, custom built-in butcher's block, beautiful new kitchen cabinets, crown molding, light fixtures and laminate hardwood floors throughout. The master suite is spacious with a walk-in shower and plentiful closet space. Enjoy the living room with a fireplace, natural light and an adjacent dining area. Relax by the condominium pools, play tennis with family and friends, and gather at the clubhouse. Convenient location by I-65, US Hwy 31 and I-459. Zoned for Vestavia City Schools. New Hot water heater installed in 2013. HVAC Serviced in June 2018. Schedule your showing today!

18. 2018-08-10
    listed $95,900 Active 700-char remark

    Show marketing remark (700 chars)

    This UPDATED Vestavia Hills Condo is one you not want to miss!! Home Features include; NEW kitchen counter tops, tile floor, custom built-in butcher's block, beautiful new kitchen cabinets, crown molding, light fixtures and laminate hardwood floors throughout. The master suite is spacious with a walk-in shower and plentiful closet space. Enjoy the living room with a fireplace, natural light and an adjacent dining area. Relax by the condominium pools, play tennis with family and friends, and gather at the clubhouse. Convenient location by I-65, US Hwy 31 and I-459. Zoned for Vestavia City Schools. New Hot water heater installed in 2013. HVAC Serviced in June 2018. Schedule your showing today!

19. 2018-07-06
    price $95,900

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 18 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: $17,773
• − Mortgage interest: −$7,422
• − Property taxes: −$1,988
• − Insurance: −$662
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$3,855
• Taxable income: $1,003
• Est. tax owed @ 24.0%: −$241
• After-tax cash flow: $2,812/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: Vestavia Hills City
• NCES district ID: 0103430
• Math proficiency: 63% ▼ -19.00%
• Reading proficiency: 83% ▲ 4.00%
• Median HH income: $87,306
• Composite: 65.34/100
• National rank: #486
• State rank: #2 of 129 in AL

Livability — Vestavia Hills

• Score: 84/100
• State rank: #2
• US rank: #827

Category grades

Amenities F Commute A+ Cost of living F 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: Vestavia Hills, AL
• County: Jefferson County · 527,445 people
• City population: 34,327
• 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

+38.2% since first listed

6 events — show timeline

• 2026-04-03 Listed $132,500 Greater Alabama MLS
• 2018-09-06 Sold (MLS) $90,500 Greater Alabama MLS
• 2018-09-04 Contingent — Greater Alabama MLS
• 2018-08-24 Price Changed $95,000 Greater Alabama MLS
• 2018-08-10 Listed $95,900 Greater Alabama MLS
• 2018-07-06 Price Changed $95,900 Greater Alabama MLS