2042 Montreat Pkwy Unit D · Vestavia Hills, AL 35216

$155,000

2 bd · 1.0 ba · 1,027 sqft · Condo · 24 Days on market

Built 1969

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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).

• Cash flow +16.3/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• 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

Don't miss this rare opportunity to own this beautifully updated 2 bedroom condo in popular Montreat community! Located on the top of a ridge and in the Montreat Condominium complex, this home is a quiet retreat from the hectic city below. It is located within minutes of the Highway 31 and Interstate 65 interchange, nestled between Vestavia and Hoover. The trees that surround this property add to the tranquil atmosphere. This condo is a rare find complete with award winning Vestavia City Schools.

Key facts

• Community pool
• Built 1969
• Listed 24 days

Property features AI

Finance

• Other: Located in Montreat Condominium subdivision
• HOA & community: Monthly condo fee of $302; HOA fees include garbage collection, common grounds maintenance, pest control, reserves for improvements, sewage service, and water

Exterior

• Parking: Assigned and unassigned uncovered parking
• Utilities: Public water; Connected sewer; Underground utilities; Internet service available
• Home design: Condominium unit (Unit D); Second-floor unit; 3-side brick construction; Existing construction; Basement foundation
• Construction: 3-side brick exterior
• Exterior features: Balcony; Open deck; Community in-ground pool; Not waterfront; No patio or garden

Interior

• Kitchen: Butcher block countertops; Dishwasher (built-in); Garbage disposal; Built-in microwave; Refrigerator
• Bedrooms: Two bedrooms on main level
• Flooring: Carpet; Hardwood laminate; Tile; Vinyl
• Bathrooms: One full bath with tub/shower combo; Linen closet
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Smooth ceilings; Recessed lighting; Partial finished basement (concrete block foundation, all unfinished)
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $84 ($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 $146k (5.6% below list).
• Recommended offer: $146k (5.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Vestavia Hills High School (math 71% / reading 69%, grade B+, #3 of 305 statewide, top 1%, 1,578 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 136 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 24 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,259 (5.6% below list)

Questions for the listing agent

1. Built in 1969 — 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. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.33%
• DSCR: 1.10
• GRM: 8.8

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-20,328
• Equity at exit: $23,111

10-year hold

• IRR: -4.7%
• Equity multiple: 0.70×
• Total profit: $-13,145
• Equity at exit: $13,402

Cash invested: $43,400 (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: 136
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $84

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 89%

Sensitivity live

Price	-10% $191	-5% $138	+0% $84	+5% $31	+10% $-23
Rent	-10% $-31	-5% $27	+0% $84	+5% $142	+10% $200
Rate	-1.0pp $162	-0.5pp $124	base $84	+0.5pp $44	+1.0pp $3

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2105 Montreat Pkwy Unit D Vestavia Hills, AL	2.0	1.0	1100	$1,250	$1.14	45d	1	0.11mi
2076 Montreat Cir Vestavia Hills, AL	2.0	2.0	1034	$1,600	$1.55	44d	1	0.13mi
2209 Montreat Cir Unit D Vestavia Hills, AL	2.0	2.0	1085	$1,600	$1.47	4d	1	0.13mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,278	$1.43	44d	1	0.20mi
2116 Montreat Ln Apt C Vestavia Hills, AL	2.0	2.0	1148	$1,450	$1.26	44d	1	0.22mi
1716 Vestawood Ct Unit 1715H Vestavia Hills, AL	2.0	2.0	1080	$1,314	$1.22	44d	1	0.50mi
3101 Lorna Rd #924 Hoover, AL	2.0	2.0	1023	$1,750	$1.71	20d	1	0.63mi
3101 Lorna Rd Unit ROAD924 Birmingham, AL	2.0	2.0	965	$1,750	$1.81	2d	1	0.63mi
3101 Lorna Rd Hoover, AL	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	44d	2	0.63mi
3299 Warringwood Dr Hoover, AL	2.0	1.5	960	$1,150	$1.20	22d	1	0.71mi
2410 Yellow Hammer Hl Birmingham, AL	1.0–2.0	1.0–2.0	969	$1,275	$1.32	12d	4	0.71mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$1,149	$1.15	44d	1	0.82mi
2070 Vestavia Park Ct Unit 2023B Vestavia Hills, AL	3.0	2.0	1125	$1,500	$1.33	24d	1	0.96mi
990 Wisteria Pl Birmingham, AL	3.0	2.0	1450	$1,620	$1.12	2d	3	1.03mi
3411 Cedar Crest Cir Hoover, AL	3.0	2.5	1336	$2,150	$1.61	2d	1	1.42mi
3400 Treeline Ct Hoover, AL	1.0–3.0	1.0–2.0	950	$1,140	$1.20	22d	13	1.46mi

HOA detail condo

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

Listing history 23 events

1. 2026-06-18
   days on market $155,000 Active 24 DOM
2. 2026-06-17
   days on market $155,000 Active 23 DOM
3. 2026-06-16
   days on market $155,000 Active 22 DOM
4. 2026-06-15
   days on market $155,000 Active 21 DOM
5. 2026-06-13
   days on market $155,000 Active 19 DOM
6. 2026-06-10
   days on market $155,000 Active 16 DOM
7. 2026-06-09
   days on market $155,000 Active 15 DOM
8. 2026-06-08
   days on market $155,000 Active 14 DOM
9. 2026-06-07
   days on market $155,000 Active 13 DOM
10. 2026-06-03
    days on market $155,000 Active 9 DOM
11. 2026-06-03
    days on market $155,000 Active 8 DOM
12. 2026-06-01
    days on market $155,000 Active 7 DOM
13. 2026-06-01
    price $155,000 Active 6 DOM
14. 2026-05-31
    days on market $158,000 Active 6 DOM
15. 2026-05-21
    historical $158,000
16. 2022-03-15
    soldstatus $145,000 Sold 502-char remark

    Show marketing remark (502 chars)

    Don't miss this rare opportunity to own this beautifully updated 2 bedroom condo in popular Montreat community! Located on the top of a ridge and in the Montreat Condominium complex, this home is a quiet retreat from the hectic city below. It is located within minutes of the Highway 31 and Interstate 65 interchange, nestled between Vestavia and Hoover. The trees that surround this property add to the tranquil atmosphere. This condo is a rare find complete with award winning Vestavia City Schools.

17. 2022-02-24
    status Pending 502-char remark

    Show marketing remark (502 chars)

    Don't miss this rare opportunity to own this beautifully updated 2 bedroom condo in popular Montreat community! Located on the top of a ridge and in the Montreat Condominium complex, this home is a quiet retreat from the hectic city below. It is located within minutes of the Highway 31 and Interstate 65 interchange, nestled between Vestavia and Hoover. The trees that surround this property add to the tranquil atmosphere. This condo is a rare find complete with award winning Vestavia City Schools.

18. 2022-02-12
    historical 502-char remark

    Show marketing remark (502 chars)

    Don't miss this rare opportunity to own this beautifully updated 2 bedroom condo in popular Montreat community! Located on the top of a ridge and in the Montreat Condominium complex, this home is a quiet retreat from the hectic city below. It is located within minutes of the Highway 31 and Interstate 65 interchange, nestled between Vestavia and Hoover. The trees that surround this property add to the tranquil atmosphere. This condo is a rare find complete with award winning Vestavia City Schools.

19. 2022-02-09
    listed $149,000 Active 502-char remark

    Show marketing remark (502 chars)

    Don't miss this rare opportunity to own this beautifully updated 2 bedroom condo in popular Montreat community! Located on the top of a ridge and in the Montreat Condominium complex, this home is a quiet retreat from the hectic city below. It is located within minutes of the Highway 31 and Interstate 65 interchange, nestled between Vestavia and Hoover. The trees that surround this property add to the tranquil atmosphere. This condo is a rare find complete with award winning Vestavia City Schools.

20. 2019-12-04
    soldstatus $99,500 Sold 108-char remark

    Show marketing remark (108 chars)

    2 Bedroom 1 bathroom condo located in popular Montreat Subdivision. Vestavia Schools! More pictures to come.

21. 2019-11-06
    historical Contingent 108-char remark

    Show marketing remark (108 chars)

    2 Bedroom 1 bathroom condo located in popular Montreat Subdivision. Vestavia Schools! More pictures to come.

22. 2019-11-04
    price $99,500 108-char remark

    Show marketing remark (108 chars)

    2 Bedroom 1 bathroom condo located in popular Montreat Subdivision. Vestavia Schools! More pictures to come.

23. 2019-11-03
    listed $99,000 Active 108-char remark

    Show marketing remark (108 chars)

    2 Bedroom 1 bathroom condo located in popular Montreat Subdivision. Vestavia Schools! More pictures to come.

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 18 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: $17,551
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$4,509
• Taxable loss: −$1,549
• Est. tax savings @ 24.0%: +$372
• After-tax cash flow: $1,383/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

+59.6% since first listed

9 events — show timeline

• 2026-05-21 Coming Soon $158,000 Greater Alabama MLS
• 2022-03-15 Sold (MLS) $145,000 Greater Alabama MLS
• 2022-02-24 Pending — Greater Alabama MLS
• 2022-02-12 Delisted — Greater Alabama MLS
• 2022-02-09 Listed $149,000 Greater Alabama MLS
• 2019-12-04 Sold (MLS) $99,500 Greater Alabama MLS
• 2019-11-06 Contingent — Greater Alabama MLS
• 2019-11-04 Price Changed $99,500 Greater Alabama MLS
• 2019-11-03 Listed $99,000 Greater Alabama MLS