12 Norwood Cir · Birmingham, AL 35234

$197,000

4 bd · 3.0 ba · 2,366 sqft · SingleFamily public records · 17 Days on market

Built 1948 9,583 sqft lot $83/sqft · at area comps Est $204k · at est.

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Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +9.1/15.0
• DSCR +4.5/10.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• 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

Charming home situated in the historic Norwood neighborhood of Birmingham! This property sits on a quiet circle and offers quick access to downtown, Uptown entertainment district, Protective Stadium, local parks, and major interstates. Inside, you’ll find comfortable living spaces with great natural light and room to make it your own. This home even has the potential to easily be made into a duplex. The lot provides space for parking, outdoor living, or gardening. Whether you're looking for a primary residence or an investment opportunity, this location delivers unbeatable convenience with classic neighborhood character. A great chance to be part of one of Birmingham’s most centrally located and growing areas!

Key facts

• Tenant parking
• Generous lot
• Lush garden

Tags

• FLEXIBLE LAYOUT
• HIGH-YIELD DUPLEX
• GENEROUS LOT
• TENANT PARKING
• LUSH GARDEN
• OUTDOOR ENTERTAINMENT OASIS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $197k.

Deal economics

• At list price, monthly cash flow is $48 ($572/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (17.7% below list).
• Recommended offer: $162k (17.7% below list) — sets the bar for 1% rule.

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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $1k of loan paydown is wiped out by about $6k 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 17 days — a 2% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y ago; this cycle's ask has dropped $32k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $162,207 (17.7% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.82% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 10.1

CMA / ARV

• ARV (median comp): $204,412
• List price: $197,000
• Delta: -3.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1221 33rd St N	0.12mi	3/2.0 (-1)	2,242 (-5%)	0mo	$60,000	$27	76
1305 31st St N	0.28mi	5/2.0 (+1)	2,357 (-0%)	2mo	$285,000	$121	75
3404 13th Ave	0.06mi	3/2.5 (-1)	2,432 (+3%)	21mo	$300,000	$123	68
1230 32nd St N	0.23mi	5/2.5 (+1)	2,352 (-1%)	22mo	$255,000	$108	62
1345 31st St N	0.29mi	3/1.0 (-1)	2,242 (-5%)	5mo	$130,000	$58	61
3409 17th Ave N	0.24mi	3/1.0 (-1)	2,560 (+8%)	3mo	$76,000	$30	60
1304 N 33rd St	0.14mi	5/2.0 (+1)	2,148 (-9%)	22mo	$112,000	$52	51

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: -14.7%
• Equity multiple: 0.48×
• Total profit: $-28,941
• Equity at exit: $29,373

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-21,512
• Equity at exit: $17,033

Cash invested: $55,160 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,622 high
• Mortgage (P&I): −$1,033
• Tax from tax record: −$119 /mo · $1,423/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $48

Break-even live

Break-even rent $1,562

Max offer price $197,000

Occupancy floor 92%

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 31st St N Birmingham, AL	3.0	2.0	2074	$1,345	$0.65	21d	1	0.27mi
1720 34th Pl N Birmingham, AL	3.0	3.0	1861	$2,200	$1.18	1d	1	0.31mi
2223 28th St N Birmingham, AL	4.0	2.0	1836	$1,300	$0.71	43d	1	0.95mi
1900 15th Ct N Birmingham, AL	4.0	2.0	1748	$1,425	$0.82	43d	1	1.40mi
1430 19th St N Birmingham, AL	5.0	2.0	1976	$1,300	$0.66	43d	1	1.41mi

Listing history 47 events

1. 2026-06-18
   days on market $197,000 Active 17 DOM
2. 2026-06-17
   days on market $197,000 Active 16 DOM
3. 2026-06-16
   days on market $197,000 Active 15 DOM
4. 2026-06-15
   days on market $197,000 Active 14 DOM
5. 2026-06-13
   days on market $197,000 Active 12 DOM
6. 2026-06-10
   days on market $197,000 Active 9 DOM
7. 2026-06-09
   days on market $197,000 Active 8 DOM
8. 2026-06-08
   days on market $197,000 Active 7 DOM
9. 2026-06-07
   days on market $197,000 Active 6 DOM
10. 2026-06-03
    days on market $197,000 Active 2 DOM
11. 2026-06-02
    remarks 693-char remark
12. 2026-06-02
    days on marketlisting id $197,000 Active 1 DOM
13. 2026-05-13
    price $197,000 731-char remark

    Show marketing remark (731 chars)

    Charming home situated in the historic Norwood neighborhood of Birmingham! This property sits on a quiet circle and offers quick access to downtown, Uptown entertainment district, Protective Stadium, local parks, and major interstates. Inside, you’ll find comfortable living spaces with great natural light and room to make it your own. This home even has the potential to easily be made into a duplex. The lot provides space for parking, outdoor living, or gardening. Whether you're looking for a primary residence or an investment opportunity, this location delivers unbeatable convenience with classic neighborhood character. A great chance to be part of one of Birmingham’s most centrally located and growing areas!

14. 2026-05-01
    price $200,000 731-char remark

    Show marketing remark (731 chars)

    Charming home situated in the historic Norwood neighborhood of Birmingham! This property sits on a quiet circle and offers quick access to downtown, Uptown entertainment district, Protective Stadium, local parks, and major interstates. Inside, you’ll find comfortable living spaces with great natural light and room to make it your own. This home even has the potential to easily be made into a duplex. The lot provides space for parking, outdoor living, or gardening. Whether you're looking for a primary residence or an investment opportunity, this location delivers unbeatable convenience with classic neighborhood character. A great chance to be part of one of Birmingham’s most centrally located and growing areas!

15. 2026-04-09
    status Active 731-char remark

    Show marketing remark (731 chars)

    Charming home situated in the historic Norwood neighborhood of Birmingham! This property sits on a quiet circle and offers quick access to downtown, Uptown entertainment district, Protective Stadium, local parks, and major interstates. Inside, you’ll find comfortable living spaces with great natural light and room to make it your own. This home even has the potential to easily be made into a duplex. The lot provides space for parking, outdoor living, or gardening. Whether you're looking for a primary residence or an investment opportunity, this location delivers unbeatable convenience with classic neighborhood character. A great chance to be part of one of Birmingham’s most centrally located and growing areas!

16. 2026-03-26
    historical Contingent 731-char remark

    Show marketing remark (731 chars)

    Charming home situated in the historic Norwood neighborhood of Birmingham! This property sits on a quiet circle and offers quick access to downtown, Uptown entertainment district, Protective Stadium, local parks, and major interstates. Inside, you’ll find comfortable living spaces with great natural light and room to make it your own. This home even has the potential to easily be made into a duplex. The lot provides space for parking, outdoor living, or gardening. Whether you're looking for a primary residence or an investment opportunity, this location delivers unbeatable convenience with classic neighborhood character. A great chance to be part of one of Birmingham’s most centrally located and growing areas!

17. 2026-03-21
    price $209,000 731-char remark

    Show marketing remark (731 chars)

    Charming home situated in the historic Norwood neighborhood of Birmingham! This property sits on a quiet circle and offers quick access to downtown, Uptown entertainment district, Protective Stadium, local parks, and major interstates. Inside, you’ll find comfortable living spaces with great natural light and room to make it your own. This home even has the potential to easily be made into a duplex. The lot provides space for parking, outdoor living, or gardening. Whether you're looking for a primary residence or an investment opportunity, this location delivers unbeatable convenience with classic neighborhood character. A great chance to be part of one of Birmingham’s most centrally located and growing areas!

18. 2026-03-05
    price $219,000 731-char remark

    Show marketing remark (731 chars)

    Charming home situated in the historic Norwood neighborhood of Birmingham! This property sits on a quiet circle and offers quick access to downtown, Uptown entertainment district, Protective Stadium, local parks, and major interstates. Inside, you’ll find comfortable living spaces with great natural light and room to make it your own. This home even has the potential to easily be made into a duplex. The lot provides space for parking, outdoor living, or gardening. Whether you're looking for a primary residence or an investment opportunity, this location delivers unbeatable convenience with classic neighborhood character. A great chance to be part of one of Birmingham’s most centrally located and growing areas!

19. 2026-01-28
    listed $229,000 Active 731-char remark

    Show marketing remark (731 chars)

    Charming home situated in the historic Norwood neighborhood of Birmingham! This property sits on a quiet circle and offers quick access to downtown, Uptown entertainment district, Protective Stadium, local parks, and major interstates. Inside, you’ll find comfortable living spaces with great natural light and room to make it your own. This home even has the potential to easily be made into a duplex. The lot provides space for parking, outdoor living, or gardening. Whether you're looking for a primary residence or an investment opportunity, this location delivers unbeatable convenience with classic neighborhood character. A great chance to be part of one of Birmingham’s most centrally located and growing areas!

20. 2025-06-14
    historical $1,445
21. 2025-05-01
    listed $1,445
22. 2025-03-21
    historical $1,445
23. 2025-03-04
    price $1,445
24. 2025-02-26
    listed $1,495
25. 2025-01-28
    historical $1,500
26. 2025-01-08
    price $1,500
27. 2024-10-30
    listed $1,650
28. 2024-09-12
    historical $1,700
29. 2024-08-14
    price $1,700
30. 2024-06-19
    listed $1,800
31. 2024-04-23
    price $276,000
32. 2024-03-01
    price $281,000
33. 2024-02-22
    price $287,900
34. 2024-02-08
    price $294,900
35. 2024-01-27
    price $299,000
36. 2024-01-18
    price $309,000
37. 2019-08-14
    soldstatus $180,000
38. 2019-08-13
    soldstatus $180,000 Sold
39. 2019-06-30
    historical Contingent
40. 2019-06-28
    listed $180,000 Active
41. 2019-04-01
    soldstatus $56,000
42. 2019-03-29
    soldstatus $56,000 Sold
43. 2019-03-20
    historical Contingent
44. 2019-03-12
    listed $50,000 Active
45. 2018-11-17
    price $80,000
46. 2006-10-23
    soldstatus $80,000
47. 2001-03-06
    soldstatus $52,500

ⓘ 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: $1,423 · $119/mo
• Projected year-2 tax: $1,423 · $119/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 · 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 · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,465
• − Mortgage interest: −$11,035
• − Property taxes: −$1,423
• − Insurance: −$985
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$5,731
• Taxable loss: −$2,824
• Est. tax savings @ 24.0%: +$678
• After-tax cash flow: $1,250/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

+275.2% since first listed

35 events — show timeline

• 2026-05-13 Price Changed $197,000 Greater Alabama MLS
• 2026-05-01 Price Changed $200,000 Greater Alabama MLS
• 2026-04-09 Relisted — Greater Alabama MLS
• 2026-03-26 Contingent — Greater Alabama MLS
• 2026-03-21 Price Changed $209,000 Greater Alabama MLS
• 2026-03-05 Price Changed $219,000 Greater Alabama MLS
• 2026-01-28 Listed $229,000 Greater Alabama MLS
• 2025-06-14 Rental Removed $1,445 TENANTTURNER2
• 2025-05-01 Listed for Rent $1,445 TENANTTURNER2
• 2025-03-21 Rental Removed $1,445 PROPERTYWARE
• 2025-03-04 Price Changed $1,445 PROPERTYWARE
• 2025-02-26 Listed for Rent $1,495 PROPERTYWARE
• 2025-01-28 Rental Removed $1,500 PROPERTYWARE
• 2025-01-08 Price Changed $1,500 PROPERTYWARE
• 2024-10-30 Listed for Rent $1,650 PROPERTYWARE
• 2024-09-12 Rental Removed $1,700 PROPERTYWARE
• 2024-08-14 Price Changed $1,700 PROPERTYWARE
• 2024-06-19 Listed for Rent $1,800 PROPERTYWARE
• 2024-04-23 Price Changed $276,000 Greater Alabama MLS
• 2024-03-01 Price Changed $281,000 Greater Alabama MLS
• 2024-02-22 Price Changed $287,900 Greater Alabama MLS
• 2024-02-08 Price Changed $294,900 Greater Alabama MLS
• 2024-01-27 Price Changed $299,000 Greater Alabama MLS
• 2024-01-18 Price Changed $309,000 Greater Alabama MLS
• 2019-08-14 Sold (Public Records) $180,000 Public Records
• 2019-08-13 Sold (MLS) $180,000 Greater Alabama MLS
• 2019-06-30 Contingent — Greater Alabama MLS
• 2019-06-28 Listed $180,000 Greater Alabama MLS
• 2019-04-01 Sold (Public Records) $56,000 Public Records
• 2019-03-29 Sold (MLS) $56,000 Greater Alabama MLS
• 2019-03-20 Contingent — Greater Alabama MLS
• 2019-03-12 Listed $50,000 Greater Alabama MLS
• 2018-11-17 Price Changed $80,000 Greater Alabama MLS
• 2006-10-23 Sold (Public Records) $80,000 Public Records
• 2001-03-06 Sold (Public Records) $52,500 Public Records

Property tax history

+10.1%/yr

Latest (2025): $1,423 · +4.0% YoY. Source: county tax records.