3029 Massey Rd Unit F · Vestavia Hills, AL 35216

$139,900

2 bd · 2.0 ba · 1,054 sqft · Condo · 95 Days on market

Built 1968 $133/sqft · 16% below area Est $166k · 16% under ↓ 16% since listing

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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 +19.0/30.0
• ARV discount +14.6/15.0
• Schools +6.5/10.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRAND NEW PAINT REFRESH ON ENTIRE DEVELOPMENT! Look no further, this is the condo in Vestavia Hills that you've been looking for, filled with so much charm. With a new roof, new water heater, new HVAC system, fresh paint, and brand new carpets, you can move right in. The location of this particular unit is ideal, situated on the edge of the condo subdivision. This unit offers tranquility and privacy with a stunning view of the green space. Enjoy the balcony and shared patio area, ideal for keeping an eye on your children playing outdoors. Additionally, this property serves as a promising investment opportunity. Contact me or your favorite agent to request a rental comparative market analysis to explore the potential income. The monthly HOA fee covers internet, cable TV, garbage collection, water, sewer, termite bond, building insurance, as well as pool and landscape maintenance. Moreover, a storage unit is included with this condo, conveniently located near the unit.

Key facts

• Fresh paint
• Shared patio area
• New water heater

Tags

• NEW ROOF
• NEW WATER HEATER
• NEW HVAC SYSTEM
• FRESH PAINT
• NEW CARPETS
• SHARED PATIO AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: schools A+, crime A+, commute 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.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $967 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 95 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.01% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.49%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $165,995
• List price: $139,900
• Delta: -15.72%
• 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: -9.7%
• Equity multiple: 0.65×
• Total profit: $-13,895
• Equity at exit: $20,860

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-2,352
• Equity at exit: $12,096

Cash invested: $39,172 (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: 135
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,409 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $147

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 85%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1716 Vestawood Ct Unit 1715H Vestavia Hills, AL	2.0	2.0	1080	$1,314	$1.22	43d	1	0.18mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$1,149	$1.15	43d	1	0.26mi
2410 Yellow Hammer Hl Birmingham, AL	1.0–2.0	1.0–2.0	969	$1,275	$1.32	11d	4	0.33mi
2116 Montreat Ln Apt C Vestavia Hills, AL	2.0	2.0	1148	$1,450	$1.26	43d	1	0.35mi
2209 Montreat Cir Unit D Vestavia Hills, AL	2.0	2.0	1085	$1,600	$1.47	3d	1	0.47mi
2076 Montreat Cir Vestavia Hills, AL	2.0	2.0	1034	$1,600	$1.55	43d	1	0.56mi
2105 Montreat Pkwy Unit D Vestavia Hills, AL	2.0	1.0	1100	$1,250	$1.14	44d	1	0.57mi
2070 Vestavia Park Ct Unit 2023B Vestavia Hills, AL	3.0	2.0	1125	$1,500	$1.33	23d	1	0.59mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,278	$1.43	43d	1	0.72mi
3101 Lorna Rd Unit ROAD924 Birmingham, AL	2.0	2.0	965	$1,750	$1.81	1d	1	1.17mi
3101 Lorna Rd #924 Hoover, AL	2.0	2.0	1023	$1,750	$1.71	19d	1	1.17mi
3101 Lorna Rd Hoover, AL	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	43d	2	1.17mi
3299 Warringwood Dr Hoover, AL	2.0	1.5	960	$1,150	$1.20	21d	1	1.26mi
990 Wisteria Pl Birmingham, AL	3.0	2.0	1450	$1,620	$1.12	1d	3	1.47mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-18
   days on market $139,900 Active 95 DOM
2. 2026-06-17
   days on market $139,900 Active 94 DOM
3. 2026-06-16
   days on market $139,900 Active 93 DOM
4. 2026-06-15
   days on market $139,900 Active 92 DOM
5. 2026-06-13
   days on market $139,900 Active 90 DOM
6. 2026-06-10
   days on market $139,900 Active 87 DOM
7. 2026-06-09
   days on market $139,900 Active 86 DOM
8. 2026-06-08
   days on market $139,900 Active 85 DOM
9. 2026-06-07
   days on market $139,900 Active 84 DOM
10. 2026-06-03
    days on market $139,900 Active 80 DOM
11. 2026-06-03
    days on market $139,900 Active 79 DOM
12. 2026-06-01
    days on market $139,900 Active 78 DOM
13. 2026-05-31
    days on market $139,900 Active 77 DOM
14. 2026-03-15
    listed $149,900 Active 981-char remark

    Show marketing remark (981 chars)

    BRAND NEW PAINT REFRESH ON ENTIRE DEVELOPMENT! Look no further, this is the condo in Vestavia Hills that you've been looking for, filled with so much charm. With a new roof, new water heater, new HVAC system, fresh paint, and brand new carpets, you can move right in. The location of this particular unit is ideal, situated on the edge of the condo subdivision. This unit offers tranquility and privacy with a stunning view of the green space. Enjoy the balcony and shared patio area, ideal for keeping an eye on your children playing outdoors. Additionally, this property serves as a promising investment opportunity. Contact me or your favorite agent to request a rental comparative market analysis to explore the potential income. The monthly HOA fee covers internet, cable TV, garbage collection, water, sewer, termite bond, building insurance, as well as pool and landscape maintenance. Moreover, a storage unit is included with this condo, conveniently located near the unit.

15. 2025-05-05
    price $149,000
16. 2024-09-19
    price $169,000
17. 2024-09-04
    price $179,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 21 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,912
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$4,070
• Taxable loss: −$499
• Est. tax savings @ 24.0%: +$120
• After-tax cash flow: $1,878/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

-16.3% since first listed

4 events — show timeline

• 2026-03-15 Listed $149,900 Greater Alabama MLS
• 2025-05-05 Price Changed $149,000 Greater Alabama MLS
• 2024-09-19 Price Changed $169,000 Greater Alabama MLS
• 2024-09-04 Price Changed $179,000 Greater Alabama MLS