3350 Altamont Rd Unit C5 · Birmingham, AL 35205

$123,000

1 bd · 1.0 ba · 640 sqft · Condo public records · 59 Days on market

Built 1977 $192/sqft · 13% below area Est $141k · 13% under

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Why this score? — see what drove the F 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 +13.2/15.0
• Cash flow +4.7/30.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to buy/invest in one of Birmingham's finest neighborhoods. .. Highland Park. Just minutes from all that downtown/lakeview/ Southside has to offer and with a beautiful view to top it off! This one bedroom and one bath unit features hardwood floors and stainless steel appliances. Don't miss this one!

Key facts

• Treetop views
• Community pool
• Granite countertops

Tags

• IN UNIT WASHER AND DRYER
• COMMUNITY POOL
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LOW MAINTENANCE LVP FLOORING
• TREETOP VIEWS

Property features AI

Finance

• Financial info: Down payment assistance available
• HOA & community: Monthly condo fee of $207; HOA fees include garbage collection, common grounds maintenance, building insurance, pest control, and water; Garbage fee included

Exterior

• Parking: Off-street unassigned parking
• Utilities: Public water; Connected sewer; Electric water heater; Internet service available
• Home design: Condo unit (Unit C5); Located on the 3rd floor
• Construction: Siding exterior; Slab foundation; Existing construction (year built not specified)
• Exterior features: Community in-ground pool with perimeter fencing; Covered deck; Mountain view

Interior

• Kitchen: Stone countertops; Breakfast bar; Electric stove
• Bedrooms: 1 bedroom on main level
• Flooring: Hardwood-look laminate; Tile flooring
• Bathrooms: 1 full bathroom with tub/shower combo
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Smooth ceilings; No additional interior features listed
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry in a closet on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $123k.

Deal economics

• At list price, monthly cash flow is $-304 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (24.2% below list).
• Recommended offer: $93k (24.2% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 6.2% in Birmingham — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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-, crime F, employment 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.
• Zoned schools: Avondale Elementary School (math 2% / reading 17%, grade F, #568 of 627 statewide, top 94%, 328 students, 76% FRL); Woodlawn High Schoolmagnet (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 738 students, 91% FRL) — zoned schools at 83% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 124 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $850 of loan paydown is wiped out by about $4k 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 59 days — a 3% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,187 (24.2% 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 59 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.76% ✗
• Cap rate: 3.32%
• Cash-on-cash: -10.60%
• DSCR: 0.53
• GRM: 11.0

CMA / ARV

• ARV (median comp): $140,734
• List price: $123,000
• Delta: -12.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -35.9%
• Equity multiple: -0.15×
• Total profit: $-39,566
• Equity at exit: $18,340

10-year hold

• IRR: -51.6%
• Equity multiple: -0.75×
• Total profit: $-60,437
• Equity at exit: $10,635

Cash invested: $34,440 (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 35205

• Rents YoY: 2.6%
• Active inventory: 124
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $932 high
• Mortgage (P&I): −$645
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$51
• HOA est. from 5 same-building comps: −$269
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $-304

Break-even live

Break-even rent $1,317

Max offer price $69,240

Occupancy floor —

Sensitivity live

Price	-10% $-235	-5% $-270	+0% $-304	+5% $-339	+10% $-374
Rent	-10% $-378	-5% $-341	+0% $-304	+5% $-268	+10% $-231
Rate	-1.0pp $-242	-0.5pp $-273	base $-304	+0.5pp $-336	+1.0pp $-369

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3350 Altamont Rd Unit E11 Birmingham, AL	1.0	1.0	640	$895	$1.40	45d	1	0.02mi
1417 33rd St S Unit 1417-A Birmingham, AL	1.0	1.0	620	$780	$1.26	45d	1	0.09mi
1325 34th St S #103 Birmingham, AL	1.0	1.0	623	$967	$1.55	4d	1	0.11mi
1321 34th St S Birmingham, AL	1.0	1.0	623	$811	$1.30	4d	2	0.12mi
3113 Pawnee Ave S Unit 2 Birmingham, AL	1.0	1.0	500	$1,087	$2.17	25d	1	0.12mi
1316 33rd St S Unit 13 Birmingham, AL	1.0	1.0	563	$787	$1.40	45d	1	0.16mi
1316 33rd St S Unit 11 Birmingham, AL	1.0	1.0	563	$788	$1.40	45d	1	0.16mi
1316 33rd St S Apt 6 Birmingham, AL	1.0	1.0	563	$797	$1.42	4d	1	0.16mi
3401 Cliff Rd Apt N Birmingham, AL	1.0	1.0	653	$1,055	$1.62	23d	1	0.17mi
3401 Cliff Rd Unit F Birmingham, AL	1.0	1.0	653	$1,073	$1.64	16d	1	0.17mi
3401 Cliff Rd S Birmingham, AL	1.0	1.0	653	$1,098	$1.68	4d	2	0.17mi
3314 Cliff Rd Unit G Birmingham, AL	1.0	1.0	647	$1,114	$1.72	23d	1	0.19mi
3400 Cliff Rd S Birmingham, AL	1.0	1.0	500	$1,148	$2.30	4d	1	0.20mi
3320 Cliff Rd Apt 6 Birmingham, AL	1.0	1.0	656	$837	$1.28	25d	1	0.20mi
3003 13th Ave S Apt 11 Birmingham, AL	1.0	1.0	718	$971	$1.35	45d	1	0.23mi
3477 Cliff Ter S Birmingham, AL	2.0	1.0	725	$1,225	$1.69	3d	1	0.25mi
2907 13th Ave S Unit A-6 Birmingham, AL	1.0	1.0	624	$1,105	$1.77	12d	1	0.26mi
2907 13th Ave S Apt B4 Birmingham, AL	1.0	1.0	624	$1,087	$1.74	45d	1	0.26mi
1237 38th St S Birmingham, AL	1.0	1.0	540	$1,071	$1.98	3d	2	0.30mi
1229 29th St S Unit 1229-C Birmingham, AL	1.0	1.0	539	$896	$1.66	23d	1	0.30mi
1300 29th St S Unit 1304-9 Birmingham, AL	1.0	1.0	557	$964	$1.73	16d	1	0.31mi
1227 29th St S Unit 1227-C Birmingham, AL	1.0	1.0	605	$820	$1.36	20d	1	0.31mi
1205 33rd St S Birmingham, AL	1.0	1.0	525	$1,136	$2.16	3d	3	0.31mi
1228 29th St S Birmingham, AL	1.0	1.0	562	$915	$1.63	4d	2	0.33mi
1228 29th St S Unit Montclair 18 Birmingham, AL	—	1.0	475	$764	$1.61	45d	1	0.33mi
3833 12th Ct S Unit A-4 Birmingham, AL	2.0	1.0	750	$899	$1.20	13d	1	0.36mi
3833 12th Ct S Unit C-2 Birmingham, AL	1.0	1.0	575	$799	$1.39	25d	1	0.36mi
3833 12th Ct S Unit C-4 Birmingham, AL	1.0	1.0	575	$799	$1.39	45d	1	0.36mi
1033 30th St S Unit R Birmingham, AL	1.0	1.0	650	$945	$1.45	20d	1	0.46mi
1033 30th St S Unit C Birmingham, AL	1.0	1.0	650	$945	$1.45	25d	1	0.46mi
1033 30th St S Unit B Birmingham, AL	1.0	1.0	650	$945	$1.45	13d	1	0.46mi
2964 Rhodes Cir S Birmingham, AL	1.0–2.0	1.0	670	$855	$1.28	16d	2	0.47mi
1317 27th Pl S Unit 1317A Birmingham, AL	1.0	1.0	550	$895	$1.63	4d	1	0.47mi
1025 30th St S Unit 1C Birmingham, AL	1.0	1.0	650	$1,000	$1.54	17d	1	0.49mi
2990 Rhodes Cir S Birmingham, AL	1.0	1.0	562	$1,000	$1.78	25d	1	0.50mi
2612 Niazuma Ave S Birmingham, AL	1.0–2.0	1.0	665	$965	$1.45	17d	9	0.50mi
2824 Rhodes Cir S Birmingham, AL	1.0	1.0	615	$995	$1.62	4d	2	0.53mi
1022 28th Pl S #2 Birmingham, AL	1.0	1.0	740	$1,100	$1.49	45d	1	0.54mi
2511 Caldwell Ave S Unit 3 Birmingham, AL	1.0	1.0	650	$915	$1.41	45d	1	0.56mi
2511 Caldwell Ave S Apt 9 Birmingham, AL	1.0	1.0	700	$915	$1.31	25d	1	0.56mi

HOA detail condo

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

Listing history 24 events

1. 2026-06-21
   days on market $123,000 Active 59 DOM
2. 2026-06-18
   days on market $123,000 Active 56 DOM
3. 2026-06-17
   days on market $123,000 Active 55 DOM
4. 2026-06-16
   days on market $123,000 Active 54 DOM
5. 2026-06-15
   days on market $123,000 Active 53 DOM
6. 2026-06-13
   pricedays on market $123,000 Active 51 DOM
7. 2026-06-10
   days on market $125,000 Active 48 DOM
8. 2026-06-09
   days on market $125,000 Active 47 DOM
9. 2026-06-08
   days on market $125,000 Active 46 DOM
10. 2026-06-07
    days on market $125,000 Active 45 DOM
11. 2026-06-03
    days on market $125,000 Active 41 DOM
12. 2026-06-02
    days on market $125,000 Active 40 DOM
13. 2026-06-01
    days on market $125,000 Active 39 DOM
14. 2026-05-31
    days on market $125,000 Active 38 DOM
15. 2026-04-23
    listed $130,000 Active 737-char remark
16. 2021-08-16
    soldstatus $105,000
17. 2021-08-13
    soldstatus $105,000 Sold 318-char remark

    Show marketing remark (318 chars)

    Great opportunity to buy/invest in one of Birmingham's finest neighborhoods. .. Highland Park. Just minutes from all that downtown/lakeview/ Southside has to offer and with a beautiful view to top it off! This one bedroom and one bath unit features hardwood floors and stainless steel appliances. Don't miss this one!

18. 2021-07-16
    historical Contingent 318-char remark

    Show marketing remark (318 chars)

    Great opportunity to buy/invest in one of Birmingham's finest neighborhoods. .. Highland Park. Just minutes from all that downtown/lakeview/ Southside has to offer and with a beautiful view to top it off! This one bedroom and one bath unit features hardwood floors and stainless steel appliances. Don't miss this one!

19. 2021-07-12
    listed $105,000 Active 318-char remark

    Show marketing remark (318 chars)

    Great opportunity to buy/invest in one of Birmingham's finest neighborhoods. .. Highland Park. Just minutes from all that downtown/lakeview/ Southside has to offer and with a beautiful view to top it off! This one bedroom and one bath unit features hardwood floors and stainless steel appliances. Don't miss this one!

20. 2012-10-02
    soldstatus $70,000

    Show marketing remark (691 chars)

    Lease/Purchase. Updated and move in ready! NEW hardwood flooring in the living room, kitchen and bedroom. The bathroom has new tile flooring, a new vanity, a new mirror and commode. New stainless steel stove, refrigerator with icemaker, dishwasher and microwave. New tiled kitchen countertops and glass-tile backsplash. New light fixtures throughout. HVAC recently serviced. This unit shows great! This one bedroom unit at the popular Altamont Patio Condominiums is perfect. Unit C5 is located near the lower parking lot and the community pool. Owner is agent and wishes to lease the property for one year prior to selling. You won't find a nicer condo for the money. Call for details today!

21. 2011-11-17
    listed $72,900

    Show marketing remark (691 chars)

    Lease/Purchase. Updated and move in ready! NEW hardwood flooring in the living room, kitchen and bedroom. The bathroom has new tile flooring, a new vanity, a new mirror and commode. New stainless steel stove, refrigerator with icemaker, dishwasher and microwave. New tiled kitchen countertops and glass-tile backsplash. New light fixtures throughout. HVAC recently serviced. This unit shows great! This one bedroom unit at the popular Altamont Patio Condominiums is perfect. Unit C5 is located near the lower parking lot and the community pool. Owner is agent and wishes to lease the property for one year prior to selling. You won't find a nicer condo for the money. Call for details today!

22. 2002-04-05
    soldstatus $38,500
23. 1994-07-20
    soldstatus $28,000
24. 1982-06-18
    soldstatus $30,900

ⓘ 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: $903 · $75/mo
• Projected year-2 tax: $903 · $75/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 5 d/yr ≥106°F today · 13 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: $11,182
• − Mortgage interest: −$6,890
• − Property taxes: −$903
• − Insurance: −$615
• − Repairs & maintenance: −$895
• − Management: −$895
• − HOA: −$3,228
• − Depreciation: −$3,578
• Taxable loss: −$5,821
• Est. tax savings @ 24.0%: +$1,397
• After-tax cash flow: $-2,255/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
• County: Jefferson County · 527,445 people
• City population: 210,422
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 18,858
• Household income: $51,158
• Rent vs Own: 67.2% rent · 32.8% own
• Severe rent burden: 1468.0

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 60% Black 26% Hispanic / Latino 5% Asian 5% Two or more races 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 2% Chinese 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: ▼ -199.42%
• Current HPI: 291.38
• 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

+298.1% since first listed

12 events — show timeline

• 2026-06-13 Price Changed $123,000 Greater Alabama MLS
• 2026-05-30 Price Changed $125,000 Greater Alabama MLS
• 2026-04-23 Listed $130,000 Greater Alabama MLS
• 2021-08-16 Sold (Public Records) $105,000 Public Records
• 2021-08-13 Sold (MLS) $105,000 Greater Alabama MLS
• 2021-07-16 Contingent — Greater Alabama MLS
• 2021-07-12 Listed $105,000 Greater Alabama MLS
• 2012-10-02 Sold (MLS) $70,000 Greater Alabama MLS
• 2011-11-17 Listed $72,900 Greater Alabama MLS
• 2002-04-05 Sold (Public Records) $38,500 Public Records
• 1994-07-20 Sold (Public Records) $28,000 Public Records
• 1982-06-18 Sold (Public Records) $30,900 Public Records

Property tax history

+0.1%/yr

Latest (2025): $903 · +0.0% YoY. Source: county tax records.