2060 Montreat Dr Unit D · Vestavia Hills, AL 35216

$165,000

3 bd · 2.0 ba · 1,268 sqft · Condo · 22 Days on market

Built 1968

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Why this score? — see what drove the C- 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 +16.8/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• DSCR +5.2/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Condo for Sale in the Montreat Condo Subdivision in Vestavia, AL and zoned for Vestavia Schools. This unit is an upstairs unit consisting of 3 Spacious bedrooms and 2 full baths. Open floor plan with living room, dining room and kitchen. Washer and dryer to remain. Convenient to Hwy 31 and so many shops, groceries and restaurants.

Key facts

• Open floor plan
• Vestavia schools
• Convenient to hwy 31

Tags

• MONTREAT CONDO SUBDIVISION
• VESTAVIA SCHOOLS
• UPSTAIRS UNIT
• OPEN FLOOR PLAN
• CONVENIENT TO HWY 31

Property features AI

Finance

• HOA & community: Monthly condo fee of $265

Exterior

• Parking: Assigned parking; Off-street uncovered parking
• Utilities: Public water; Connected sewer; Underground utilities; Electric water heater; Internet service available
• Home design: Four-side brick construction; Condominium, unit on second level; Existing (previously built)
• Construction: Slab foundation
• Exterior features: Community in-ground pool; No waterfront; No patio, deck, or garden listed; Public road access; Unit D in Montreat Condominium

Interior

• Kitchen: Laminate countertops; Built-in dishwasher; Electric stove
• Bedrooms: Master bedroom on main level; Additional bedrooms on main level
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Two full bathrooms; Tub/shower combo
• Heating & cooling: Central heating (electric); Central cooling
• Interior features: Smooth ceilings; No special interior features listed
• Laundry & utility: Laundry on main level; Laundry in a closet; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/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 $158k (4.4% below list).
• Recommended offer: $158k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: crime A+, commute A+, employment 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.
• Zoned schools: West Elementary (math 64% / reading 86%, grade A, #14 of 627 statewide, top 2%, 745 students, 15% FRL); Pizitz Middle School (math 63% / reading 87%, grade A, #1 of 257 statewide, top 0%, 1,158 students, 11% FRL); Vestavia Hills High School (math 71% / reading 69%, grade B+, #3 of 305 statewide, top 1%, 1,578 students, 10% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 139 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 22 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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.

Recommended offer $157,794 (4.4% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.76%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -12.4%
• Equity multiple: 0.55×
• Total profit: $-20,592
• Equity at exit: $24,602

10-year hold

• IRR: -3.9%
• Equity multiple: 0.75×
• Total profit: $-11,755
• Equity at exit: $14,266

Cash invested: $46,200 (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: 139
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,578 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $106

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 88%

Sensitivity live

Price	-10% $220	-5% $163	+0% $106	+5% $49	+10% $-8
Rent	-10% $-18	-5% $44	+0% $106	+5% $169	+10% $231
Rate	-1.0pp $189	-0.5pp $148	base $106	+0.5pp $64	+1.0pp $20

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2209 Montreat Cir Unit D Vestavia Hills, AL	2.0	2.0	1085	$1,600	$1.47	5d	1	0.14mi
2116 Montreat Ln Apt C Vestavia Hills, AL	2.0	2.0	1148	$1,450	$1.26	45d	1	0.14mi
2076 Montreat Cir Vestavia Hills, AL	2.0	2.0	1034	$1,600	$1.55	45d	1	0.22mi
2128 Montreat Dr Vestavia Hills, AL	3.0	2.5	1705	$1,750	$1.03	45d	1	0.24mi
1716 Vestawood Ct Unit 1715H Vestavia Hills, AL	2.0	2.0	1080	$1,314	$1.22	45d	1	0.24mi
1716 Vestawood Ct Unit 1714D Vestavia Hills, AL	3.0	2.0	1503	$1,369	$0.91	45d	1	0.24mi
2105 Montreat Pkwy Unit D Vestavia Hills, AL	2.0	1.0	1100	$1,250	$1.14	46d	1	0.33mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,420	$1.59	45d	1	0.38mi
2410 Yellow Hammer Hl Birmingham, AL	1.0–2.0	1.0–2.0	969	$1,275	$1.32	13d	4	0.44mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$1,399	$1.40	45d	1	0.59mi
3101 Lorna Rd Unit ROAD924 Birmingham, AL	2.0	2.0	965	$1,750	$1.81	3d	1	0.83mi
3101 Lorna Rd #924 Hoover, AL	2.0	2.0	1023	$1,750	$1.71	21d	1	0.83mi
3101 Lorna Rd Hoover, AL	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	45d	2	0.83mi
2070 Vestavia Park Ct Unit 2023B Vestavia Hills, AL	3.0	2.0	1125	$1,500	$1.33	25d	1	0.87mi
3299 Warringwood Dr Hoover, AL	2.0	1.5	960	$1,150	$1.20	23d	1	0.98mi
1515 Vestridge Dr Vestavia Hills, AL	1.0–3.0	2.5	1670	$1,895	$1.13	3d	3	0.98mi
990 Wisteria Pl Birmingham, AL	3.0	2.0	1450	$1,620	$1.12	3d	3	1.29mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-22
   days on market $165,000 Active 22 DOM
2. 2026-06-18
   days on market $165,000 Active 19 DOM
3. 2026-06-17
   days on market $165,000 Active 18 DOM
4. 2026-06-16
   days on market $165,000 Active 17 DOM
5. 2026-06-15
   days on market $165,000 Active 16 DOM
6. 2026-06-13
   days on market $165,000 Active 14 DOM
7. 2026-06-10
   days on market $165,000 Active 11 DOM
8. 2026-06-09
   days on market $165,000 Active 10 DOM
9. 2026-06-08
   days on market $165,000 Active 9 DOM
10. 2026-06-07
    days on market $165,000 Active 8 DOM
11. 2026-06-03
    days on market $165,000 Active 4 DOM
12. 2026-06-03
    days on market $165,000 Active 3 DOM
13. 2026-06-01
    days on market $165,000 Active 2 DOM
14. 2026-05-31
    remarks 332-char remark
15. 2026-05-31
    listed $165,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,935
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,515
• − Management: −$1,515
• − Depreciation: −$4,800
• Taxable loss: −$1,437
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $1,620/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

+70.3% since first listed

13 events — show timeline

• 2026-05-30 Listed $165,000 Greater Alabama MLS
• 2025-10-07 Price Changed $169,000 Greater Alabama MLS
• 2025-09-12 Price Changed $179,000 Greater Alabama MLS
• 2024-06-05 Price Changed $207,000 Greater Alabama MLS
• 2024-04-12 Price Changed $210,000 Greater Alabama MLS
• 2023-02-07 Sold (MLS) $161,000 Greater Alabama MLS
• 2023-01-26 Pending — Greater Alabama MLS
• 2023-01-24 Price Changed $157,500 Greater Alabama MLS
• 2022-10-20 Listed $175,000 Greater Alabama MLS
• 2015-05-26 Sold (MLS) $95,500 Greater Alabama MLS
• 2014-12-31 Listed $99,900 Greater Alabama MLS
• 2012-06-20 Sold (MLS) $91,250 Greater Alabama MLS
• 2012-03-16 Listed $96,900 Greater Alabama MLS