329 23rd St N · Irondale, AL 35210

$99,000

3 bd · 1.0 ba · 1,225 sqft · SingleFamily public records · 23 Days on market

Built 1948 5,227 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Great investment property.

Key facts

• 5,227 sq ft lot
• Built 1948
• Listed 23 days

Property features AI

Finance

• Other: Lot size approximately 0.12 acres; Not in a flood plain
• Financial info: Garbage fee of $45

Exterior

• Parking: Driveway parking; Off-street parking
• Utilities: Public water; Connected sewer; Internet service availability unknown
• Home design: Existing construction; Vinyl siding; Slab foundation; Located in SOUTH IRONDALE subdivision
• Construction: Vinyl siding construction; Slab foundation
• Exterior features: Fenced yard; Storage building; Open patio

Interior

• Kitchen: Kitchen on main level
• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: No heat; No air conditioning
• Interior features: Concrete floors; Ceilings described as 'Other (See Remarks)'; No additional interior features listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 5.2% in Irondale — 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 74/100 on livability (#23 in AL, #4,921 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities F, health & safety 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 Community School (math 6% / reading 32%, grade F, #478 of 627 statewide, top 76%, 450 students, 50% 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 fast (+4.2%/yr); 81 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $684 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $99k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.52% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.30%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $275,625
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2120 3rd Ave N	0.15mi	3/2.0	1,184 (-3%)	4mo	$170,000	$144	80
224 24th St N	0.08mi	3/2.0	1,296 (+6%)	5mo	$205,000	$158	78
2302 Highland Ave	0.07mi	3/1.0	1,351 (+10%)	10mo	$195,000	$144	72
2209 2nd Ave S	0.35mi	3/1.5	1,150 (-6%)	1mo	$235,000	$204	70
2110 S 4th Ave	0.47mi	3/2.0	1,232 (+1%)	10mo	$248,000	$201	64
2010 2nd Ave N	0.27mi	3/1.0	1,375 (+12%)	8mo	$247,400	$180	60
2829 Montevallo Park Rd	0.67mi	3/2.0	1,276 (+4%)	2mo	$329,900	$259	56
2901 Montevallo Park Rd	0.62mi	3/2.0	1,276 (+4%)	9mo	$314,000	$246	52
2812 Montevallo Park Rd	0.68mi	3/2.0	1,334 (+9%)	3mo	$325,000	$244	47
2809 Montevallo Park Rd	0.65mi	3/2.0	1,334 (+9%)	9mo	$321,000	$241	43
1516 Monticello Rd	0.73mi	3/1.0	1,056 (-14%)	2mo	$265,000	$251	41
2833 Montevallo Park Rd	0.68mi	3/2.0	1,334 (+9%)	10mo	$300,000	$225	41

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 · 4.18% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.62×
• Total profit: $17,147
• Equity at exit: $14,761

10-year hold

• IRR: 24.8%
• Equity multiple: 3.27×
• Total profit: $63,041
• Equity at exit: $8,560

Cash invested: $27,720 (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 35210

• Home prices YoY: -32.2%
• Rents YoY: 4.2%
• Active inventory: 81
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,509 high
• Mortgage (P&I): −$519
• Tax from tax record: −$139 /mo · $1,671/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $492

Break-even live

Break-even rent $886

Max offer price $99,000

Occupancy floor 62%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2208 3rd Ave S Irondale, AL	3.0	1.0	934	$1,350	$1.45	43d	1	0.41mi
2884 Montevallo Park Rd Irondale, AL	3.0	2.0	1275	$2,206	$1.73	2d	1	0.64mi
7341 Rome Ave Birmingham, AL	3.0	1.0	1000	$1,300	$1.30	43d	1	0.79mi
7341 Rome Ave Birmingham, AL	3.0	1.0	1000	$1,275	$1.27	3d	1	0.79mi
7216 Paris Ave Birmingham, AL	3.0	1.5	966	$1,125	$1.16	19d	1	0.79mi
7313 Paris Ave Birmingham, AL	3.0	2.0	1000	$1,395	$1.40	2d	1	0.84mi
7213 Naples Ave Birmingham, AL	3.0	1.5	925	$1,100	$1.19	43d	1	0.88mi
7213 Naples Ave Birmingham, AL	3.0	1.5	937	$1,100	$1.17	11d	1	0.88mi
7404 Paris Ave Birmingham, AL	3.0	1.5	802	$1,200	$1.50	43d	1	0.93mi
836 Vanderbilt St Birmingham, AL	3.0	1.0	1072	$850	$0.79	23d	1	0.93mi
7808 Vienna Ave Birmingham, AL	2.0	1.0	904	$850	$0.94	43d	1	0.97mi
7716 Sunrise Cir Birmingham, AL	1.0–2.0	1.0	795	$1,000	$1.26	43d	1	1.05mi
756 Vanderbilt St Birmingham, AL	3.0	2.0	1096	$1,000	$0.91	43d	1	1.06mi
832 79th Pl S Birmingham, AL	3.0	1.0	960	$1,250	$1.30	23d	1	1.06mi
7825 Rugby Ct Birmingham, AL	2.0	1.0	929	$875	$0.94	21d	1	1.12mi
630 77th St S Birmingham, AL	2.0	2.0	1100	$983	$0.89	2d	1	1.13mi
7823 Rugby Ave Birmingham, AL	3.0	1.0	1023	$1,175	$1.15	43d	1	1.19mi
7827 Rugby Ave Birmingham, AL	3.0	1.0	1365	$850	$0.62	3d	1	1.20mi
7740 Rugby Ave Unit b Birmingham, AL	2.0	1.0	800	$1,100	$1.38	43d	1	1.20mi
7740 Rugby Ave Unit 2 Birmingham, AL	2.0	1.0	800	$1,000	$1.25	43d	1	1.20mi
768 80th Pl S Unit 1 Birmingham, AL	3.0	2.0	1134	$1,200	$1.06	43d	1	1.24mi
7728 Rugby Ave Birmingham, AL	2.0	1.0	700	$850	$1.21	43d	1	1.25mi
7701 7th Ave S Birmingham, AL	2.0	1.0	800	$850	$1.06	23d	1	1.27mi
8013 Rugby Ave Birmingham, AL	3.0	2.0	1460	$1,150	$0.79	23d	1	1.29mi
605 71st St S Birmingham, AL	3.0	1.5	1024	$1,303	$1.27	1d	1	1.30mi
764 81st St S Unit B Birmingham, AL	2.0	1.0	800	$800	$1.00	43d	1	1.31mi
509 Ardmore Ln Irondale, AL	3.0	1.5	1408	$1,580	$1.12	2d	1	1.32mi
775 81st Pl S Birmingham, AL	3.0	1.0	1232	$1,095	$0.89	23d	1	1.34mi
7931 7th Ave S Birmingham, AL	3.0	1.0	1320	$1,450	$1.10	43d	1	1.35mi
8229 9th Ave S Birmingham, AL	2.0	1.0	997	$1,195	$1.20	2d	1	1.36mi
6936 66th St S Birmingham, AL	3.0	1.0	880	$1,050	$1.19	43d	1	1.40mi
735 81st St S Birmingham, AL	3.0	2.0	1224	$1,400	$1.14	23d	1	1.40mi
7620 4th Ave S Birmingham, AL	3.0	1.0	1144	$1,025	$0.90	43d	1	1.41mi
731 81st St S Birmingham, AL	3.0	1.0	1221	$995	$0.81	10d	1	1.41mi
6732 Frankfort Ave Birmingham, AL	3.0	1.0	924	$995	$1.08	43d	1	1.42mi
8122 Rugby Ave Unit B Birmingham, AL	2.0	1.0	900	$795	$0.88	43d	1	1.42mi
5303 Dixieland Rd Irondale, AL	4.0	3.0	1296	$1,911	$1.47	15d	1	1.43mi
132 Woodside Dr Irondale, AL	3.0	1.0	1452	$1,595	$1.10	15d	1	1.44mi
7815 4th Ave S Birmingham, AL	3.0	2.0	1496	$1,650	$1.10	1d	1	1.46mi
7025 4th Ave S Birmingham, AL	3.0	1.0	1090	$845	$0.78	43d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $99,000 Active 23 DOM
2. 2026-06-17
   days on market $99,000 Active 22 DOM
3. 2026-06-16
   days on market $99,000 Active 21 DOM
4. 2026-06-15
   days on market $99,000 Active 20 DOM
5. 2026-06-13
   days on market $99,000 Active 18 DOM
6. 2026-06-10
   days on market $99,000 Active 15 DOM
7. 2026-06-09
   days on market $99,000 Active 14 DOM
8. 2026-06-08
   days on market $99,000 Active 13 DOM
9. 2026-06-07
   days on market $99,000 Active 12 DOM
10. 2026-06-03
    days on market $99,000 Active 8 DOM
11. 2026-06-02
    days on market $99,000 Active 7 DOM
12. 2026-06-01
    days on market $99,000 Active 6 DOM
13. 2026-05-31
    days on market $99,000 Active 5 DOM
14. 2026-05-25
    listed $99,000 Active
15. 2024-02-21
    soldstatus $65,000
16. 2024-02-07
    soldstatus $50,000

ⓘ 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: $1,671 · $139/mo
• Projected year-2 tax: $1,671 · $139/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,104
• − Mortgage interest: −$5,546
• − Property taxes: −$1,671
• − Insurance: −$495
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$2,880
• Taxable income: $4,615
• Est. tax owed @ 24.0%: −$1,108
• After-tax cash flow: $4,798/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: 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

Livability — Irondale

• Score: 74/100
• State rank: #23
• US rank: #4921

Category grades

Amenities F Commute B Cost of living A+ Crime B+ Employment C- Housing A+ Health & safety F User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irondale, AL
• County: Jefferson County · 527,445 people
• City population: 13,775
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 13,775
• Household income: $73,061
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 379.0

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: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Arabic 1% Russian/Polish/Slavic 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: ▼ -109.03%
• Current HPI: 230.033
• Rent YoY: ▲ 4.18%
• 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

+98.0% since first listed

3 events — show timeline

• 2026-05-25 Listed $99,000 Greater Alabama MLS
• 2024-02-21 Sold (Public Records) $65,000 Public Records
• 2024-02-07 Sold (Public Records) $50,000 Public Records

Property tax history

+13.9%/yr

Latest (2025): $1,671 · +374.8% YoY. Source: county tax records.