2423 Eagle Ct #2423 · Birmingham, AL 35216

$230,000

5 bd · 2.5 ba · 2,343 sqft · Townhouse · 179 Days on market

Built 1978 Good condition $98/sqft · 28% below area Est $320k · 28% under ↓ 10% 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 +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Est Mortgage Payment $2,300 a month Including HOA fee. This unique 5-bedroom, 3-bath condo offers a rare combination of space, flexibility, and opportunity. Currently tenant-occupied, the property can be purchased with tenants in place for immediate cash flow or delivered vacant for owner-occupancy. The versatile layout allows for multiple living arrangements, making it ideal for investors, house-hackers, or buyers seeking extra room. The HOA is actively completing major exterior renovations, including a new roof, new siding, fresh paint, and additional upgrades, adding long-term value and curb appeal. Whether you’re looking to invest or move in, this property checks the boxes.

Key facts

• Additional upgrades
• New siding
• Fresh paint

Tags

• MAJOR EXTERIOR RENOVATIONS
• NEW ROOF
• NEW SIDING
• FRESH PAINT
• ADDITIONAL UPGRADES
• CURB APPEAL

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath townhouse listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 6.1% in Birmingham — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Jefferson County (suburban): math 9% / reading 32% proficiency, ranked #104 of 129 in AL (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Irondale Middle School (math 2% / reading 35%, grade F, #195 of 257 statewide, top 76%, 467 students, 58% FRL); Shades Valley High School (math 29% / reading 39%, grade F, #53 of 305 statewide, top 18%, 1,200 students, 68% FRL).
• Market conditions: Rents rising (+2.6%/yr); 178 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 41d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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).
• This rent runs 38% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 179 days — a 12% lower offer ($202k) 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.39%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (median comp): $320,321
• List price: $230,000
• Delta: -28.20%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3051 Skylark Cir	0.65mi	4/3.5 (-1)	2,442 (+4%)	2mo	$420,000	$172	52
3313 Shallowford Rd	1.26mi	4/3.5 (-1)	2,400 (+2%)	2mo	$566,000	$236	50
3444 Blueberry Ln	1.50mi	4/3.0 (-1)	2,244 (-4%)	3mo	$529,000	$236	48
5008 Indian Valley Rd	1.25mi	4/3.0 (-1)	2,456 (+5%)	3mo	$375,000	$153	48
5360 Riverbend Trl	0.47mi	4/3.5 (-1)	2,588 (+10%)	8mo	$395,000	$153	45
3784 White Ln	0.45mi	4/3.0 (-1)	2,870 (+22%)	3mo	$400,000	$139	45
3429 Wisteria Dr	1.13mi	4/2.5 (-1)	2,132 (-9%)	7mo	$380,000	$178	39
2416 Wine Ridge Dr	0.66mi	4/2.0 (-1)	1,886 (-20%)	3mo	$330,000	$175	35
2316 Crossgate Trl	1.45mi	4/3.0 (-1)	2,610 (+11%)	6mo	$630,000	$241	34
2300 Crossgate Trl	1.37mi	4/3.0 (-1)	2,695 (+15%)	2mo	$527,500	$196	31
4779 Sandpiper Ln	0.71mi	5/3.5	2,815 (+20%)	9mo	$330,000	$117	31
4712 Wine Ridge Ln	0.74mi	4/3.0 (-1)	1,964 (-16%)	7mo	$275,000	$140	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-19,785
• Equity at exit: $34,294

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $2,666
• Equity at exit: $19,886

Cash invested: $64,400 (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: 178
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,378 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $289

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 83%

Sensitivity live

Price	-10% $448	-5% $369	+0% $289	+5% $210	+10% $130
Rent	-10% $101	-5% $195	+0% $289	+5% $383	+10% $477
Rate	-1.0pp $405	-0.5pp $348	base $289	+0.5pp $230	+1.0pp $169

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: $57,500
• Closing costs: $6,900
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1212 Riverford Dr Hoover, AL	4.0	2.5	2368	$2,320	$0.98	63d	1	0.18mi
1208 Riverford Dr Hoover, AL	4.0	3.5	2396	$2,270	$0.95	38d	1	0.19mi
3853 Kinross Pl Hoover, AL	4.0	3.0	2159	$2,200	$1.02	15d	1	0.23mi
3454 Heather Ln Hoover, AL	4.0	3.0	2176	$2,600	$1.19	70d	1	0.87mi
4132 Heritage Pl Hoover, AL	4.0	3.5	3100	$2,928	$0.94	41d	1	1.42mi

Listing history 50 events

1. 2026-07-31
   days on market $230,000 Active 179 DOM
2. 2026-07-30
   days on market $230,000 Active 177 DOM
3. 2026-07-28
   days on market $230,000 Active 176 DOM
4. 2026-07-26
   days on market $230,000 Active 174 DOM
5. 2026-07-24
   days on market $230,000 Active 172 DOM
6. 2026-07-23
   days on market $230,000 Active 171 DOM
7. 2026-07-22
   days on market $230,000 Active 170 DOM
8. 2026-07-21
   days on market $230,000 Active 169 DOM
9. 2026-07-20
   days on market $230,000 Active 168 DOM
10. 2026-07-19
    days on market $230,000 Active 166 DOM
11. 2026-07-18
    days on market $230,000 Active 165 DOM
12. 2026-07-16
    days on market $230,000 Active 164 DOM
13. 2026-07-15
    days on market $230,000 Active 163 DOM
14. 2026-07-14
    days on market $230,000 Active 162 DOM
15. 2026-07-13
    days on market $230,000 Active 161 DOM
16. 2026-07-13
    days on market $230,000 Active 160 DOM
17. 2026-07-11
    days on market $230,000 Active 159 DOM
18. 2026-07-10
    days on market $230,000 Active 158 DOM
19. 2026-07-09
    days on market $230,000 Active 157 DOM
20. 2026-07-07
    days on market $230,000 Active 155 DOM
21. 2026-07-06
    days on market $230,000 Active 154 DOM
22. 2026-07-05
    days on market $230,000 Active 153 DOM
23. 2026-07-03
    days on market $230,000 Active 151 DOM
24. 2026-07-02
    days on market $230,000 Active 150 DOM
25. 2026-07-01
    days on market $230,000 Active 149 DOM
26. 2026-06-30
    days on market $230,000 Active 148 DOM
27. 2026-06-29
    days on market $230,000 Active 147 DOM
28. 2026-06-28
    days on market $230,000 Active 146 DOM
29. 2026-06-27
    days on market $230,000 Active 145 DOM
30. 2026-06-27
    days on market $230,000 Active 144 DOM
31. 2026-06-25
    days on market $230,000 Active 142 DOM
32. 2026-06-22
    days on market $230,000 Active 140 DOM
33. 2026-06-22
    days on market $230,000 Active 139 DOM
34. 2026-06-18
    days on market $230,000 Active 136 DOM
35. 2026-06-17
    days on market $230,000 Active 135 DOM
36. 2026-06-16
    days on market $230,000 Active 134 DOM
37. 2026-06-15
    days on market $230,000 Active 133 DOM
38. 2026-06-13
    days on market $230,000 Active 131 DOM
39. 2026-06-10
    days on market $230,000 Active 128 DOM
40. 2026-06-09
    days on market $230,000 Active 127 DOM
41. 2026-06-08
    days on market $230,000 Active 126 DOM
42. 2026-06-07
    days on market $230,000 Active 125 DOM
43. 2026-06-03
    days on market $230,000 Active 121 DOM
44. 2026-06-02
    days on market $230,000 Active 120 DOM
45. 2026-06-01
    days on market $230,000 Active 119 DOM
46. 2026-05-31
    days on market $230,000 Active 118 DOM
47. 2026-02-02
    listed $230,000 Active 692-char remark

    Show marketing remark (692 chars)

    Est Mortgage Payment $2,300 a month Including HOA fee. This unique 5-bedroom, 3-bath condo offers a rare combination of space, flexibility, and opportunity. Currently tenant-occupied, the property can be purchased with tenants in place for immediate cash flow or delivered vacant for owner-occupancy. The versatile layout allows for multiple living arrangements, making it ideal for investors, house-hackers, or buyers seeking extra room. The HOA is actively completing major exterior renovations, including a new roof, new siding, fresh paint, and additional upgrades, adding long-term value and curb appeal. Whether you’re looking to invest or move in, this property checks the boxes.

48. 2024-10-12
    price $215,000
49. 2024-02-12
    price $235,000
50. 2024-01-27
    price $245,000

ⓘ 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 · 19 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: $28,538
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,283
• − Management: −$2,283
• − Depreciation: −$6,691
• Taxable loss: −$202
• Est. tax savings @ 24.0%: +$49
• After-tax cash flow: $3,520/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 · 1 photo

Good 80/100 Cosmetic rehab Est. rehab $11,715–$35,145 screening

This well-maintained and updated condo is in excellent condition, ready for immediate occupancy. It offers a spacious layout and is located in a desirable area, making it an attractive investment opportunity.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's appeal and value. ↑
• Both Landscaping improvements — Enhanced curb appeal can attract more buyers and renters. ↑
• Both Adding smart home features — Modern technology can increase the home's marketability and rental potential. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 24/100

Zoned Schools

Elementary Grantswood Community School F AL #451/627 Nat'l #33,016/41,679 Middle Irondale Middle School F AL #195/257 Nat'l #12,017/14,009 High Shades Valley High School F AL #53/305 Nat'l #10,121/17,239

Schools (NCES district)

• District: Jefferson County
• NCES district ID: 0101920
• Math proficiency: 9% ▼ -24.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $51,712
• Composite: 18.4/100
• National rank: #8937
• State rank: #104 of 129 in AL

C Composite livability gradescore 67/100

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

• County: Jefferson County · 669,185 people
• City population: 210,422
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 34,327
• Household income: $74,525
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 18% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

-9.8% since first listed

6 events — show timeline

• 2026-02-02 Listed $230,000 Greater Alabama MLS
• 2024-10-12 Price Changed $215,000 Greater Alabama MLS
• 2024-02-12 Price Changed $235,000 Greater Alabama MLS
• 2024-01-27 Price Changed $245,000 Greater Alabama MLS
• 2024-01-12 Price Changed $249,900 Greater Alabama MLS
• 2023-09-22 Price Changed $254,900 Greater Alabama MLS