2808 Norwood Blvd · Birmingham, AL 35234

$170,000

3 bd · 1.0 ba · 1,580 sqft · SingleFamily public records · 60 Days on market

Built 1935 7,405 sqft lot $108/sqft · 31% below area Est $248k · 31% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• 1% rule +2.8/10.0
• 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

Own a piece of this historic neighborhood! Home being sold as is, would be great property to put you personal touch on to call it home or a great investment property. Located just a minutes away from the Coca-Cola amphitheater. Right on the Boulevard!

Key facts

• 7,405 sq ft lot
• Built 1935
• Listed 59 days

Tags

• HISTORIC NEIGHBORHOOD
• GREAT INVESTMENT PROPERTY
• RIGHT ON THE BOULEVARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-75 ($-906/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (21.8% below list).
• Recommended offer: $133k (21.8% 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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 $5k 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 60 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $138k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,017 (21.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.78% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• GRM: 10.7

CMA / ARV

• ARV (median comp): $248,010
• List price: $170,000
• Delta: -31.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1606 27th St N	0.13mi	4/2.0 (+1)	1,583 (+0%)	4mo	$115,000	$73	81
2820 Norwood Blvd	0.03mi	3/2.0	1,506 (-5%)	9mo	$245,000	$163	79
2718 20th Ave N	0.41mi	3/2.0	1,632 (+3%)	5mo	$64,000	$39	67
1405 34th St	0.58mi	2/1.0 (-1)	1,574 (-0%)	0mo	$45,000	$29	67
2204 14th Ave N	0.54mi	3/1.0	1,571 (-1%)	8mo	$164,681	$105	67
1431 28th St N	0.07mi	4/2.0 (+1)	1,746 (+10%)	6mo	$209,900	$120	65
1405 34th St N	0.58mi	2/1.0 (-1)	1,574 (-0%)	4mo	$45,000	$29	64
3100 Norwood Blvd	0.36mi	4/2.0 (+1)	1,598 (+1%)	12mo	$155,000	$97	62
1617 27th St N	0.13mi	3/3.0	1,750 (+11%)	9mo	$245,000	$140	61
43 Norwood Cir	0.67mi	3/1.0	1,440 (-9%)	2mo	$177,000	$123	53
1601 31st St N	0.27mi	4/2.0 (+1)	1,776 (+12%)	12mo	$95,000	$53	48
1617 20th St N	0.62mi	4/2.0 (+1)	1,774 (+12%)	12mo	$135,000	$76	32

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-32,364
• Equity at exit: $25,348

10-year hold

• IRR: -12.2%
• Equity multiple: 0.28×
• Total profit: $-34,411
• Equity at exit: $14,698

Cash invested: $47,600 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,330 high
• Mortgage (P&I): −$891
• Tax from tax record: −$98 /mo · $1,170/yr
• Insurance: −$71
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-75

Break-even live

Break-even rent $1,426

Max offer price $156,668

Occupancy floor —

Sensitivity live

Price	-10% $21	-5% $-27	+0% $-75	+5% $-124	+10% $-172
Rent	-10% $-181	-5% $-128	+0% $-75	+5% $-23	+10% $30
Rate	-1.0pp $10	-0.5pp $-32	base $-75	+0.5pp $-120	+1.0pp $-164

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3001 Norwood Blvd Birmingham, AL	2.0	2.0	1092	$1,500	$1.37	4d	1	0.27mi
1319 31st St N Birmingham, AL	3.0	2.0	2074	$1,345	$0.65	22d	1	0.38mi
2108 25th St N Birmingham, AL	4.0	2.0	1446	$1,300	$0.90	45d	1	0.50mi
2223 28th St N Birmingham, AL	4.0	2.0	1836	$1,300	$0.71	45d	1	0.51mi
1720 34th Pl N Birmingham, AL	3.0	3.0	1861	$2,200	$1.18	3d	1	0.69mi
1906 15th Ct N Birmingham, AL	2.0	1.0	1311	$1,000	$0.76	25d	1	0.77mi
1900 15th Ct N Birmingham, AL	4.0	2.0	1748	$1,425	$0.82	45d	1	0.78mi
2212 20th St N Birmingham, AL	3.0	1.0	1141	$895	$0.78	45d	1	0.78mi
3601 Norwood Blvd Birmingham, AL	3.0	2.0	1558	$1,323	$0.85	4d	1	0.80mi
1608 18th Pl N Birmingham, AL	3.0	2.0	1243	$950	$0.76	45d	1	0.88mi
1515 36th Pl N Birmingham, AL	3.0	2.0	1204	$1,273	$1.06	45d	1	0.89mi
600 24th St N Birmingham, AL	1.0–3.0	1.0–2.0	1098	$1,499	$1.36	3d	13	1.05mi
1742 17th St N Unit 2 Birmingham, AL	3.0	2.0	1300	$1,500	$1.15	17d	1	1.06mi
2807 34th St N Birmingham, AL	4.0	2.0	1556	$1,100	$0.71	45d	1	1.11mi
600 19th St N Birmingham, AL	1.0–3.0	1.0–2.0	1120	$3,550	$3.17	17d	30	1.29mi
600 19th St N Birmingham, AL	1.0–3.0	1.0–3.0	1398	$4,560	$3.26	20d	83	1.29mi
600 19th St N Unit 211 Birmingham, AL	2.0	2.0	1670	$3,250	$1.95	13d	1	1.30mi
600 19th St N Apt 202 Birmingham, AL	3.0	2.0	1248	$3,050	$2.44	13d	1	1.30mi
1317 11th St N Birmingham, AL	3.0	1.0	1340	$1,200	$0.90	45d	1	1.32mi
353 16th Ave N Birmingham, AL	3.0	1.0	1200	$995	$0.83	45d	1	1.38mi
2024 2nd Ave N #1801 Birmingham, AL	2.0	2.0	1340	$2,500	$1.87	25d	1	1.44mi
3920 11th Ave N Birmingham, AL	3.0	2.0	1200	$1,025	$0.85	3d	1	1.50mi

Listing history 21 events

1. 2026-06-21
   days on market $170,000 Active 60 DOM
2. 2026-06-18
   days on market $170,000 Active 57 DOM
3. 2026-06-17
   days on market $170,000 Active 56 DOM
4. 2026-06-16
   days on market $170,000 Active 55 DOM
5. 2026-06-15
   days on market $170,000 Active 54 DOM
6. 2026-06-13
   days on market $170,000 Active 52 DOM
7. 2026-06-10
   days on market $170,000 Active 49 DOM
8. 2026-06-09
   days on market $170,000 Active 48 DOM
9. 2026-06-08
   days on market $170,000 Active 47 DOM
10. 2026-06-07
    days on market $170,000 Active 46 DOM
11. 2026-06-03
    days on market $170,000 Active 42 DOM
12. 2026-06-02
    days on market $170,000 Active 41 DOM
13. 2026-06-01
    days on market $170,000 Active 40 DOM
14. 2026-05-31
    days on market $170,000 Active 39 DOM
15. 2026-04-22
    listed $170,000 Active 251-char remark

    Show marketing remark (251 chars)

    Own a piece of this historic neighborhood! Home being sold as is, would be great property to put you personal touch on to call it home or a great investment property. Located just a minutes away from the Coca-Cola amphitheater. Right on the Boulevard!

16. 2022-11-28
    soldstatus $138,000
17. 2015-12-11
    soldstatus $6,900 Sold 218-char remark

    Show marketing remark (218 chars)

    Three bedroom / one bath home is located on a large spacious lot in a established neighborhood. , Close to shopping and schools. This one wont last long! Perfect for investor or owner/occupant fixer-upper. Great Value!

18. 2015-11-11
    status Pending 218-char remark

    Show marketing remark (218 chars)

    Three bedroom / one bath home is located on a large spacious lot in a established neighborhood. , Close to shopping and schools. This one wont last long! Perfect for investor or owner/occupant fixer-upper. Great Value!

19. 2015-11-05
    status Active 218-char remark

    Show marketing remark (218 chars)

    Three bedroom / one bath home is located on a large spacious lot in a established neighborhood. , Close to shopping and schools. This one wont last long! Perfect for investor or owner/occupant fixer-upper. Great Value!

20. 2015-11-02
    status Pending 218-char remark

    Show marketing remark (218 chars)

    Three bedroom / one bath home is located on a large spacious lot in a established neighborhood. , Close to shopping and schools. This one wont last long! Perfect for investor or owner/occupant fixer-upper. Great Value!

21. 2015-10-30
    listed $6,900 Active 218-char remark

    Show marketing remark (218 chars)

    Three bedroom / one bath home is located on a large spacious lot in a established neighborhood. , Close to shopping and schools. This one wont last long! Perfect for investor or owner/occupant fixer-upper. Great Value!

ⓘ 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: $1,170 · $98/mo
• Projected year-2 tax: $1,170 · $98/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 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: $15,962
• − Mortgage interest: −$9,523
• − Property taxes: −$1,170
• − Insurance: −$1,648
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$4,945
• Taxable loss: −$3,878
• Est. tax savings @ 24.0%: +$931
• After-tax cash flow: $25/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

+2363.8% since first listed

7 events — show timeline

• 2026-04-22 Listed $170,000 Greater Alabama MLS
• 2022-11-28 Sold (Public Records) $138,000 Public Records
• 2015-12-11 Sold (MLS) $6,900 Greater Alabama MLS
• 2015-11-11 Pending — Greater Alabama MLS
• 2015-11-05 Relisted — Greater Alabama MLS
• 2015-11-02 Pending — Greater Alabama MLS
• 2015-10-30 Listed $6,900 Greater Alabama MLS

Property tax history

+3.3%/yr

Latest (2025): $1,170 · +3.5% YoY. Source: county tax records.