1635 Tin Mill Rd · Birmingham, AL 35061

$84,000

4 bd · 2.0 ba · 2,800 sqft · MultiFamily · 40 Days on market

Built 1950 Fair condition 9,147 sqft lot $30/sqft · 39% below area Est $137k · 39% under ↓ 20% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Appreciation +7.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +0.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This home is on the corner lot can be used as a multifamily quad Plex or a single family investment opportunity . It has a brand new metal roof brand new air conditioner new plumbing and new electrical it is a full concrete structure that can withstand almost any thing and it's extremely structurally sound it can be a single family huge home or is currently a multi-family Triplex. Light rehab to make it whatever Strokes you'd like it could be a fix and slip or a rental income producing property. If you're interested in any off Market properties I have you can contact Troy by texting him at 205-616-2036

Key facts

• Metal roof
• New plumbing
• New air conditioner

Tags

• CORNER LOT
• METAL ROOF
• NEW AIR CONDITIONER
• NEW PLUMBING
• NEW ELECTRICAL
• CONCRETE STRUCTURE

Property features AI

Finance

• Other: Subdivision: MIDFIELD

Exterior

• Parking: Parking on the main level
• Utilities: Public water; Connected sewer; Electric water heater; Internet availability unknown
• Home design: Existing construction; Concrete/block construction
• Construction: Slab foundation; Concrete/Block exterior
• Exterior features: No pool; No patio, deck, or garden; Not waterfront; Lot approximately 0.21 acres; Not in a flood plain; No notable lot view

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Master bedroom on main level; Three additional bedrooms on main level
• Flooring: Concrete
• Bathrooms: Two full bathrooms on main level
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Smooth ceilings; Textured walls; Concrete floors; Attic with pull-down access; Tri-level/split-level features not present
• Laundry & utility: Main-level laundry in a closet; Electric dryer hookup; Floor drain in laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $84k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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: 16 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($581 loan paydown + $3k appreciation (4.1% local appreciation)).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,480 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.49% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.77%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $136,660
• List price: $84,000
• Delta: -38.53%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

4.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.2%
• Equity multiple: 2.75×
• Total profit: $41,075
• Equity at exit: $43,105

10-year hold

• IRR: 28.7%
• Equity multiple: 5.42×
• Total profit: $104,026
• Equity at exit: $70,917

Cash invested: $23,520 (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 35061

• Home prices YoY: 1.8%
• Active inventory: 16
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$441
• Tax est. 1.5%: −$105 /mo · $1,260/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $407

Break-even live

Break-even rent $735

Max offer price $84,000

Occupancy floor 62%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Henley St Birmingham, AL	3.0	2.0	2424	$1,250	$0.52	44d	1	1.46mi

Listing history 19 events

1. 2026-06-18
   days on market $84,000 Active 40 DOM
2. 2026-06-17
   days on market $84,000 Active 39 DOM
3. 2026-06-16
   days on market $84,000 Active 38 DOM
4. 2026-06-15
   days on market $84,000 Active 37 DOM
5. 2026-06-13
   days on market $84,000 Active 35 DOM
6. 2026-06-10
   days on market $84,000 Active 32 DOM
7. 2026-06-09
   days on market $84,000 Active 31 DOM
8. 2026-06-08
   days on market $84,000 Active 30 DOM
9. 2026-06-07
   pricedays on market $84,000 Active 29 DOM
10. 2026-06-03
    days on market $85,000 Active 25 DOM
11. 2026-06-02
    days on market $85,000 Active 24 DOM
12. 2026-06-01
    days on market $85,000 Active 23 DOM
13. 2026-05-31
    days on market $85,000 Active 22 DOM
14. 2026-05-09
    listed $85,000,000 Active 609-char remark
15. 2026-04-07
    price $85,000
16. 2026-03-05
    price $90,000
17. 2026-02-04
    price $99,989
18. 2026-01-09
    price $100,000
19. 2025-11-22
    price $104,900

ⓘ 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: $15,000
• − Mortgage interest: −$4,705
• − Property taxes: −$1,260
• − Insurance: −$420
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,444
• Taxable income: $3,771
• Est. tax owed @ 24.0%: −$905
• After-tax cash flow: $3,979/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

The property requires moderate repairs and maintenance to improve its condition and value. The most impactful updates would be painting the walls, replacing the flooring, cabinets, and fixtures.

Repairs flagged

• Moderate Exposed plumbing and electrical — Exposed plumbing and electrical need to be concealed
• Moderate Missing cabinets — Missing cabinets need to be replaced
• Major Missing fixtures — Missing fixtures need to be replaced

Value-add opportunities

• Both Paint walls — Enhances curb appeal and interior aesthetics
• Both Replace flooring — Improves interior aesthetics and functionality
• Both Replace cabinets — Enhances functionality and aesthetics
• Both Replace fixtures — Enhances functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed plumbing and electrical · Exposed plumbing and electrical need to be concealed	Moderate	$3,000–15,000
Missing cabinets · Missing cabinets need to be replaced	Moderate	$3,000–15,000
Missing fixtures · Missing fixtures need to be replaced	Major	$15,000–50,000
Total estimated repair cost · 3 items		$21,000–80,000

Value-add ROI direction

• Both Paint walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace flooring — Improves interior aesthetics and functionality ↑
• Both Replace cabinets — Enhances functionality and aesthetics ↑
• Both Replace fixtures — Enhances functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 1,633

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 (97%)
• Race & ethnicity: Black 97% White 3%
• Foreign-born: 0%

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: ▲ 4.10%
• Current HPI: 232.777
• 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

-19.9% since first listed

8 events — show timeline

• 2026-06-07 Price Changed $84,000 Greater Alabama MLS
• 2026-05-27 Price Changed $85,000 Greater Alabama MLS
• 2026-05-09 Listed $85,000,000 Greater Alabama MLS
• 2026-04-07 Price Changed $85,000 Greater Alabama MLS
• 2026-03-05 Price Changed $90,000 Greater Alabama MLS
• 2026-02-04 Price Changed $99,989 Greater Alabama MLS
• 2026-01-09 Price Changed $100,000 Greater Alabama MLS
• 2025-11-22 Price Changed $104,900 Greater Alabama MLS