16 Norwood Cir · Birmingham, AL 35234

$42,900

3 bd · 1.0 ba · 962 sqft · SingleFamily public records · 136 Days on market

Built 1955 8,712 sqft lot $45/sqft · 62% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.1/10.0

Listing remarks MLS

Calling all investors. Have you been looking for a project in the Norwood area, well look no more. Here is one ready for you to coming with your imagination and turn it into a nice home.

Key facts

• 8,712 sq ft lot
• Garage
• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Recommended offer: $38k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 6.2% in Birmingham — 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 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: 54 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $297 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $23k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 2.40% ✓
• Cap rate: 20.00%
• Cash-on-cash: 48.95%
• DSCR: 3.18
• GRM: 3.5

CMA / ARV

• ARV (median comp): $111,963
• List price: $42,900
• Delta: -61.68%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3509 Norwood Blvd	0.13mi	2/1.0 (-1)	943 (-2%)	19mo	$135,000	$143	70
3606 Norwood Blvd	0.20mi	2/2.0 (-1)	1,026 (+7%)	15mo	$230,000	$224	58
2878 Norwood Blvd	0.61mi	3/1.0	875 (-9%)	15mo	$100,000	$114	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.6%
• Equity multiple: 3.02×
• Total profit: $24,291
• Equity at exit: $6,397

10-year hold

• IRR: 52.3%
• Equity multiple: 6.12×
• Total profit: $61,473
• Equity at exit: $3,709

Cash invested: $12,012 (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 35234

• Home prices YoY: -3.8%
• Active inventory: 54
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,032 high
• Mortgage (P&I): −$225
• Tax from tax record: −$82 /mo · $985/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $490

Break-even live

Break-even rent $411

Max offer price $42,900

Occupancy floor 48%

Sensitivity live

Price	-10% $514	-5% $502	+0% $490	+5% $478	+10% $466
Rent	-10% $409	-5% $449	+0% $490	+5% $531	+10% $572
Rate	-1.0pp $512	-0.5pp $501	base $490	+0.5pp $479	+1.0pp $468

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: $10,725
• Closing costs: $1,287
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3509 Norwood Blvd Birmingham, AL	2.0	1.0	943	$1,100	$1.17	5d	1	0.11mi
1405 33rd St N Birmingham, AL	3.0	1.0	952	$990	$1.04	25d	1	0.13mi
3311 16th Ave N Unit 3323 Birmingham, AL	2.0	1.0	750	$850	$1.13	3d	1	0.32mi
3311 16th Ave N Unit 3321 Birmingham, AL	2.0	1.0	750	$850	$1.13	25d	1	0.32mi
3311 16th Ave N Unit 3317 Birmingham, AL	2.0	1.0	750	$850	$1.13	45d	1	0.32mi
1444 31st St N Birmingham, AL	4.0	1.0	1014	$1,295	$1.28	25d	1	0.36mi
3001 Norwood Blvd Birmingham, AL	2.0	2.0	1092	$1,500	$1.37	5d	1	0.51mi
2413 14th Ave N Birmingham, AL	2.0	1.0	720	$675	$0.94	3d	3	0.92mi
2608 20th Ave N Unit 5 Birmingham, AL	2.0	1.0	750	$875	$1.17	45d	1	0.94mi
2608 20th Ave N Birmingham, AL	2.0	1.0	750	$895	$1.19	45d	1	0.94mi
1017 Cahaba St Birmingham, AL	2.0	2.0	1035	$1,350	$1.30	5d	1	0.96mi
2129 30th Pl N Birmingham, AL	3.0	1.0	1042	$1,000	$0.96	25d	1	1.02mi
2400 19th Ave N Unit B Birmingham, AL	2.0	1.0	750	$850	$1.13	23d	1	1.06mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	3d	1	1.10mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	4d	1	1.10mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	12d	1	1.10mi
1911 19th Ct N Apt 1 Birmingham, AL	2.0	1.0	750	$845	$1.13	13d	1	1.19mi
2000 Stouts Rd Birmingham, AL	2.0	1.0	700	$880	$1.26	45d	2	1.21mi
4108 7th Ave N Birmingham, AL	3.0	1.0	1100	$1,350	$1.23	25d	1	1.21mi
2300 21st Ave N Birmingham, AL	2.0	1.0	700	$880	$1.26	45d	2	1.21mi
600 24th St N Birmingham, AL	1.0–3.0	1.0–2.0	1098	$1,499	$1.36	3d	13	1.26mi
1428 F L Shuttlesworth Dr Fl Shuttlesworth Birmingham, AL	2.0	1.0	803	$825	$1.03	25d	3	1.26mi
1117 42nd Pl N Birmingham, AL	3.0	1.0	1026	$900	$0.88	45d	1	1.27mi
3376 34th Ave N Birmingham, AL	3.0	2.0	928	$1,200	$1.29	4d	1	1.28mi
1576 20th St N Apt D Birmingham, AL	2.0	1.0	900	$725	$0.81	45d	1	1.29mi
3373 33rd Pl N Birmingham, AL	3.0	1.0	912	$1,150	$1.26	5d	1	1.32mi
3376 34th St N Birmingham, AL	3.0	1.0	928	$1,200	$1.29	13d	1	1.32mi
3376 34th St N Birmingham, AL	3.0	2.0	928	$1,200	$1.29	25d	1	1.32mi
1217 43rd St N Birmingham, AL	2.0	1.0	750	$850	$1.13	45d	1	1.37mi
3016 33rd Ct N Birmingham, AL	3.0	1.0	1012	$1,100	$1.09	45d	1	1.40mi
1909 18th St N Unit 1909 Birmingham, AL	2.0	1.0	900	$799	$0.89	16d	1	1.44mi

Listing history 34 events

1. 2026-06-21
   days on market $42,900 Active 136 DOM
2. 2026-06-18
   days on market $42,900 Active 133 DOM
3. 2026-06-17
   days on market $42,900 Active 132 DOM
4. 2026-06-16
   days on market $42,900 Active 131 DOM
5. 2026-06-15
   remarks 498-char remark
6. 2026-06-15
   days on market $42,900 Active 130 DOM
7. 2026-06-13
   days on market $42,900 Active 128 DOM
8. 2026-06-10
   days on market $42,900 Active 125 DOM
9. 2026-06-09
   days on market $42,900 Active 124 DOM
10. 2026-06-08
    days on market $42,900 Active 123 DOM
11. 2026-06-07
    days on market $42,900 Active 122 DOM
12. 2026-06-03
    days on market $42,900 Active 118 DOM
13. 2026-06-02
    days on market $42,900 Active 117 DOM
14. 2026-06-01
    days on market $42,900 Active 116 DOM
15. 2026-05-31
    days on market $42,900 Active 115 DOM
16. 2026-05-14
    price $42,900 186-char remark

    Show marketing remark (186 chars)

    Calling all investors. Have you been looking for a project in the Norwood area, well look no more. Here is one ready for you to coming with your imagination and turn it into a nice home.

17. 2026-04-04
    price $50,900 186-char remark

    Show marketing remark (186 chars)

    Calling all investors. Have you been looking for a project in the Norwood area, well look no more. Here is one ready for you to coming with your imagination and turn it into a nice home.

18. 2026-02-26
    price $55,900 186-char remark

    Show marketing remark (186 chars)

    Calling all investors. Have you been looking for a project in the Norwood area, well look no more. Here is one ready for you to coming with your imagination and turn it into a nice home.

19. 2026-02-02
    listed $65,900 Active 186-char remark

    Show marketing remark (186 chars)

    Calling all investors. Have you been looking for a project in the Norwood area, well look no more. Here is one ready for you to coming with your imagination and turn it into a nice home.

20. 2025-10-29
    price $65,900
21. 2025-09-25
    price $69,900
22. 2025-08-02
    price $74,900
23. 2025-06-23
    price $84,900
24. 2025-05-21
    price $94,900
25. 2025-04-16
    price $104,900
26. 2025-03-18
    price $114,900
27. 2025-02-15
    price $124,900
28. 2025-01-16
    price $129,900
29. 2024-04-15
    soldstatus $90,000
30. 2024-04-12
    soldstatus $90,000 Sold
31. 2024-03-20
    historical Contingent
32. 2023-10-06
    price $109,900
33. 2023-08-23
    listed $119,900 Active
34. 2023-08-22
    historical $119,900

ⓘ 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: $985 · $82/mo
• Projected year-2 tax: $985 · $82/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 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 · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,378
• − Mortgage interest: −$2,403
• − Property taxes: −$985
• − Insurance: −$214
• − Repairs & maintenance: −$990
• − Management: −$990
• − Depreciation: −$1,248
• Taxable income: $5,548
• Est. tax owed @ 24.0%: −$1,331
• After-tax cash flow: $4,549/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
• City population: 210,422
• Population (ZIP): 3,828

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 (80%)
• Race & ethnicity: Black 80% White 15% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -9.89%
• Current HPI: 250.4724
• Rent YoY: —
• Metro: —
• 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

-64.2% since first listed

19 events — show timeline

• 2026-05-14 Price Changed $42,900 Greater Alabama MLS
• 2026-04-04 Price Changed $50,900 Greater Alabama MLS
• 2026-02-26 Price Changed $55,900 Greater Alabama MLS
• 2026-02-02 Listed $65,900 Greater Alabama MLS
• 2025-10-29 Price Changed $65,900 Greater Alabama MLS
• 2025-09-25 Price Changed $69,900 Greater Alabama MLS
• 2025-08-02 Price Changed $74,900 Greater Alabama MLS
• 2025-06-23 Price Changed $84,900 Greater Alabama MLS
• 2025-05-21 Price Changed $94,900 Greater Alabama MLS
• 2025-04-16 Price Changed $104,900 Greater Alabama MLS
• 2025-03-18 Price Changed $114,900 Greater Alabama MLS
• 2025-02-15 Price Changed $124,900 Greater Alabama MLS
• 2025-01-16 Price Changed $129,900 Greater Alabama MLS
• 2024-04-15 Sold (Public Records) $90,000 Public Records
• 2024-04-12 Sold (MLS) $90,000 Greater Alabama MLS
• 2024-03-20 Contingent — Greater Alabama MLS
• 2023-10-06 Price Changed $109,900 Greater Alabama MLS
• 2023-08-23 Listed $119,900 Greater Alabama MLS
• 2023-08-22 Coming Soon $119,900 Greater Alabama MLS

Property tax history

+2.1%/yr

Latest (2025): $985 · +3.0% YoY. Source: county tax records.