2423 Eagle Ct #2423 · Birmingham, AL 35216

$230,000

5 bd · 2.5 ba · 2,343 sqft · Townhouse · 83 Days on market

Built 1978 Good condition $98/sqft · 26% below area Est $313k · 26% 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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• 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

SELLER WILL PAY 12 MONTHS HOA FEE !!! Spacious and in the heart of Vestavia Hills! Ideal for buyers seeking low-maintenance living, shared living arrangements, or investment potential. Plenty of space for roommates, multi-generational living, or work-from-home flexibility. This floor plan offers privacy and flexibility with living spaces and bedrooms on multiple levels. Conveniently located near shopping, dining, interstates, and area colleges, making commuting easy. Features include TWO washer/dryer hookup areas on separate levels for added convenience. A unique opportunity to own in one of the area’s most desirable locations!

Key facts

• Multiple levels
• Investment potential
• Conveniently located

Tags

• HEART OF VESTAVIA HILLS
• LOW-MAINTENANCE LIVING
• INVESTMENT POTENTIAL
• WORK-FROM-HOME FLEXIBILITY
• MULTIPLE LEVELS
• CONVENIENTLY LOCATED

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 $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $216k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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-, 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); 221 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 41% 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 83 days — a 6% lower offer ($216k) 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 $216,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.11% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $312,754
• List price: $230,000
• Delta: -26.46%
• 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
4065 Bent River Ln	0.85mi	5/3.0	2,368 (+1%)	2mo	$475,000	$201	59
3233 Wagon Gap Trl	1.49mi	4/3.0 (-1)	2,338 (-0%)	2mo	$410,000	$175	56
3725 Spearman Dr	0.38mi	4/2.0 (-1)	2,061 (-12%)	3mo	$347,500	$169	53
4061 Bent River Ln	0.85mi	5/3.5	2,450 (+5%)	2mo	$455,000	$186	52
3500 William And Mary Rd	0.82mi	4/2.5 (-1)	2,450 (+5%)	1mo	$404,000	$165	52
3051 Skylark Cir	0.65mi	4/3.5 (-1)	2,442 (+4%)	5mo	$420,000	$172	50
3313 Shallowford Rd	1.26mi	4/3.5 (-1)	2,400 (+2%)	5mo	$566,000	$236	48
4400 Cahaba River Blvd	1.12mi	4/2.5 (-1)	2,157 (-8%)	1mo	$469,000	$217	46
5008 Indian Valley Rd	1.25mi	4/3.0 (-1)	2,456 (+5%)	6mo	$375,000	$153	45
3337 Shallowford Rd	1.20mi	4/2.5 (-1)	1,790 (-24%)	0mo	$439,900	$246	35
2416 Wine Ridge Dr	0.66mi	4/2.0 (-1)	1,886 (-20%)	6mo	$330,000	$175	32
2300 Crossgate Trl	1.37mi	4/3.0 (-1)	2,695 (+15%)	5mo	$527,500	$196	29

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: -4.7%
• Equity multiple: 0.83×
• Total profit: $-11,142
• Equity at exit: $34,294

10-year hold

• IRR: 4.6%
• Equity multiple: 1.33×
• Total profit: $21,131
• 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: 221
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,551 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $426

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 78%

Sensitivity live

Price	-10% $585	-5% $506	+0% $426	+5% $347	+10% $267
Rent	-10% $225	-5% $325	+0% $426	+5% $527	+10% $628
Rate	-1.0pp $542	-0.5pp $485	base $426	+0.5pp $366	+1.0pp $306

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 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4238 Lennox Dr Birmingham, AL	4.0	4.5	2282	$3,150	$1.38	0d	1	0.10mi
1212 Riverford Dr Hoover, AL	4.0	2.5	2368	$2,320	$0.98	155d	1	0.18mi
1208 Riverford Dr Hoover, AL	4.0	3.5	2396	$2,270	$0.95	130d	1	0.19mi
1325 Riverford Cir Hoover, AL	4.0	2.5	2331	$2,525	$1.08	10d	1	0.22mi
3853 Kinross Pl Hoover, AL	4.0	3.0	2159	$2,200	$1.02	107d	1	0.23mi
1317 Riverford Cir Hoover, AL	4.0	2.5	2717	$2,400	$0.88	18d	1	0.23mi
3454 Heather Ln Hoover, AL	4.0	3.0	2176	$2,600	$1.19	162d	1	0.87mi
2269 Ridgemont Dr Birmingham, AL	4.0	3.5	2424	$2,295	$0.95	10d	1	0.98mi
2639 Old Rocky Ridge Rd Hoover, AL	4.0	2.0	2500	$2,200	$0.88	0d	1	1.02mi
990 Wisteria Pl Birmingham, AL	1.0–4.0	1.0–2.0	1197	$1,715	$1.43	0d	5	1.17mi
3654 Haven View Cir Hoover, AL	4.0	2.5	1704	$1,795	$1.05	5d	1	1.22mi
4309 Bent River Pkwy Hoover, AL	4.0	3.0	2667	$3,000	$1.12	19d	1	1.23mi
4132 Heritage Pl Hoover, AL	4.0	3.5	3100	$2,928	$0.94	133d	1	1.42mi

Property features AI

Finance

• Other: Not in flood plain
• HOA & community: Monthly condo/townhome fee ($700/month)Fees include garbage collection, common grounds maintenance, building insurance, management fee, pest control, reserve for improvements, and other services

Exterior

• Parking: Assigned parkingTwo carport spaces
• Utilities: Public waterConnected sewerUnderground utilitiesGas water heater (2+ units)Internet service available (Spectrum, AT&T)
• Home design: Condo/townhome (unit/lot #2423)Entry level: 1Existing constructionNo waterfront or garden/patio
• Construction: Wood sidingBasement foundation
• Exterior features: Covered deckBalconyStorage buildingCommunity in-ground pool with cleaning system and perimeter fencing

Interior

• Kitchen: Solid surface countertopsBuilt-in dishwasher, built-in microwave, refrigeratorSome stainless appliancesElectric stove
• Bedrooms: Master bedroom on upper levelAdditional bedrooms in basement
• Flooring: CarpetHardwood laminateVinyl
• Bathrooms: Two full baths and one half bathSeparate vanities and linen closet; tub/shower comboWalk-in closets
• Heating & cooling: Central heating (gas)Central cooling
• Interior features: Cathedral/vaulted and 9 ft.+ ceilingsRecessed lightingTwo gas fireplaces (bedroom and family room) with gas startersPull-down atticFull finished daylight basement
• Laundry & utility: Laundry available (basement and upper level)Washer hookupElectric dryer hookupLaundry located in closet (basement)

Listing history 50 events

1. 2026-11-08
   days on market $230,000 Active 83 DOM
2. 2026-11-07
   days on market $230,000 Active 82 DOM
3. 2026-11-06
   days on market $230,000 Active 81 DOM
4. 2026-11-05
   days on market $230,000 Active 80 DOM
5. 2026-11-04
   days on market $230,000 Active 79 DOM
6. 2026-11-02
   days on market $230,000 Active 77 DOM
7. 2026-11-01
   days on market $230,000 Active 76 DOM
8. 2026-10-31
   days on market $230,000 Active 75 DOM
9. 2026-10-30
   days on market $230,000 Active 74 DOM
10. 2026-10-29
    days on market $230,000 Active 73 DOM
11. 2026-10-28
    days on market $230,000 Active 72 DOM
12. 2026-10-27
    days on market $230,000 Active 71 DOM
13. 2026-10-26
    days on market $230,000 Active 70 DOM
14. 2026-10-26
    days on market $230,000 Active 69 DOM
15. 2026-10-24
    days on market $230,000 Active 68 DOM
16. 2026-10-23
    days on market $230,000 Active 67 DOM
17. 2026-10-22
    days on market $230,000 Active 66 DOM
18. 2026-10-21
    days on market $230,000 Active 65 DOM
19. 2026-10-20
    days on market $230,000 Active 64 DOM
20. 2026-10-19
    days on market $230,000 Active 63 DOM
21. 2026-10-18
    days on market $230,000 Active 62 DOM
22. 2026-10-17
    days on market $230,000 Active 61 DOM
23. 2026-10-16
    days on market $230,000 Active 60 DOM
24. 2026-10-15
    days on market $230,000 Active 59 DOM
25. 2026-10-14
    days on market $230,000 Active 58 DOM
26. 2026-10-13
    days on market $230,000 Active 57 DOM
27. 2026-10-12
    days on market $230,000 Active 56 DOM
28. 2026-10-11
    days on market $230,000 Active 55 DOM
29. 2026-10-10
    days on market $230,000 Active 54 DOM
30. 2026-10-09
    days on market $230,000 Active 53 DOM
31. 2026-10-08
    days on market $230,000 Active 52 DOM
32. 2026-10-07
    days on market $230,000 Active 51 DOM
33. 2026-10-06
    days on market $230,000 Active 50 DOM
34. 2026-10-05
    days on market $230,000 Active 49 DOM
35. 2026-10-04
    days on market $230,000 Active 48 DOM
36. 2026-10-03
    days on market $230,000 Active 47 DOM
37. 2026-10-02
    days on market $230,000 Active 46 DOM
38. 2026-10-01
    days on market $230,000 Active 45 DOM
39. 2026-09-30
    days on market $230,000 Active 44 DOM
40. 2026-09-29
    days on market $230,000 Active 43 DOM
41. 2026-09-28
    days on market $230,000 Active 42 DOM
42. 2026-09-27
    days on market $230,000 Active 41 DOM
43. 2026-09-25
    days on market $230,000 Active 39 DOM
44. 2026-09-24
    days on market $230,000 Active 38 DOM
45. 2026-09-23
    days on market $230,000 Active 37 DOM
46. 2026-09-22
    days on market $230,000 Active 36 DOM
47. 2026-09-21
    days on market $230,000 Active 35 DOM
48. 2026-09-20
    days on market $230,000 Active 34 DOM
49. 2026-09-19
    days on market $230,000 Active 33 DOM
50. 2026-09-18
    days on market $230,000 Active 32 DOM

ⓘ 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: $30,616
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,449
• − Management: −$2,449
• − Depreciation: −$6,691
• Taxable income: $1,543
• Est. tax owed @ 24.0%: −$370
• After-tax cash flow: $4,743/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%
• 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

Property features AI

Finance

• Other: Not in flood plain
• HOA & community: Monthly condo/townhome fee ($700/month)Fees include garbage collection, common grounds maintenance, building insurance, management fee, pest control, reserve for improvements, and other services

Exterior

• Parking: Assigned parkingTwo carport spaces
• Utilities: Public waterConnected sewerUnderground utilitiesGas water heater (2+ units)Internet service available (Spectrum, AT&T)
• Home design: Condo/townhome (unit/lot #2423)Entry level: 1Existing constructionNo waterfront or garden/patio
• Construction: Wood sidingBasement foundation
• Exterior features: Covered deckBalconyStorage buildingCommunity in-ground pool with cleaning system and perimeter fencing

Interior

• Kitchen: Solid surface countertopsBuilt-in dishwasher, built-in microwave, refrigeratorSome stainless appliancesElectric stove
• Bedrooms: Master bedroom on upper levelAdditional bedrooms in basement
• Flooring: CarpetHardwood laminateVinyl
• Bathrooms: Two full baths and one half bathSeparate vanities and linen closet; tub/shower comboWalk-in closets
• Heating & cooling: Central heating (gas)Central cooling
• Interior features: Cathedral/vaulted and 9 ft.+ ceilingsRecessed lightingTwo gas fireplaces (bedroom and family room) with gas startersPull-down atticFull finished daylight basement
• Laundry & utility: Laundry available (basement and upper level)Washer hookupElectric dryer hookupLaundry located in closet (basement)

Price history

-9.8% since first listed

6 events — show timeline

• 2026-08-17 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