921 51st St N · Birmingham, AL 35212

$55,000

3 bd · 1.0 ba · 1,322 sqft · SingleFamily public records · 38 Days on market

Built 1935 6,098 sqft lot $42/sqft · 48% below area Est $106k · 48% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity. Good bones.

Key facts

• 6,098 sq ft lot
• Built 1935
• Listed 38 days

Property features AI

Finance

• Financial info: Down payment assistance available
• HOA & community: No association/HOA fee

Exterior

• Parking: On-street parking; Parking available at the main level
• Utilities: Public water; Connected sewer; Internet availability unknown
• Home design: Existing property (year built listed as existing); Irregular lot
• Construction: Concrete/block and other siding construction; Crawl space foundation
• Exterior features: Open patio; Front porch

Interior

• Kitchen: Kitchen with an eating area
• Bedrooms: Three bedrooms on the main level
• Flooring: Hardwood flooring; Tile flooring
• Bathrooms: One full bathroom
• Heating & cooling: No heating listed; No air conditioning listed
• Interior features: 9-foot (and higher) ceilings; Some window treatments to remain; No additional built-in interior features listed
• Laundry & utility: Dedicated laundry room on the main level; Washer hookup provided; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $690 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.4% 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.
• Birmingham City (urban): math 4% / reading 20% proficiency, ranked #116 of 129 in AL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hayes K8 (math 0% / reading 12%, grade F, #616 of 627 statewide, top 98%, 658 students, 91% FRL); Woodlawn High Schoolmagnet (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 738 students, 91% FRL).
• Market conditions: 79 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• At $1,386/mo this rent would consume 45% of the median local household income ($37k/yr) (locally 798% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $55k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 2.52% ✓
• Cap rate: 21.35%
• Cash-on-cash: 53.78%
• DSCR: 3.39
• GRM: 3.3

CMA / ARV

• ARV (median comp): $105,549
• List price: $55,000
• Delta: -47.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
829 49th St N	0.17mi	3/2.0	1,322 (0%)	1mo	$205,000	$155	87
837 49th St N	0.16mi	3/2.0	1,322 (0%)	2mo	$200,000	$151	87
832 49th St N	0.19mi	3/2.0	1,322 (0%)	2mo	$195,000	$148	85
833 49th St N	0.16mi	3/2.0	1,231 (-7%)	1mo	$200,000	$162	76
4831 2nd Ave N	0.33mi	3/2.0	1,400 (+6%)	2mo	$249,900	$179	69
616 52nd St S	0.67mi	3/1.0	1,355 (+2%)	3mo	$210,000	$155	62
5617 5th Ct S	0.71mi	3/1.0	1,236 (-6%)	2mo	$369,000	$299	55
5405 6th Ct S	0.73mi	3/1.0	1,238 (-6%)	4mo	$328,750	$266	52
612 54th St S	0.70mi	3/2.0	1,426 (+8%)	2mo	$405,000	$284	49
145 57th St S	0.69mi	2/2.0 (-1)	1,388 (+5%)	3mo	$299,999	$216	48
605 55th Pl S	0.71mi	3/2.0	1,214 (-8%)	5mo	$290,000	$239	46
536 56th St S	0.67mi	2/2.0 (-1)	1,192 (-10%)	5mo	$325,000	$273	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.9%
• Equity multiple: 3.28×
• Total profit: $35,081
• Equity at exit: $8,201

10-year hold

• IRR: 57.2%
• Equity multiple: 6.67×
• Total profit: $87,297
• Equity at exit: $4,755

Cash invested: $15,400 (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 35212

• Active inventory: 79
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,386 high
• Mortgage (P&I): −$288
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $690

Break-even live

Break-even rent $513

Max offer price $55,000

Occupancy floor 45%

Sensitivity live

Price	-10% $721	-5% $706	+0% $690	+5% $675	+10% $659
Rent	-10% $581	-5% $635	+0% $690	+5% $745	+10% $800
Rate	-1.0pp $718	-0.5pp $704	base $690	+0.5pp $676	+1.0pp $661

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
233 52nd St N Birmingham, AL	2.0	1.0	1430	$1,200	$0.84	45d	1	0.11mi
821 50th St N Birmingham, AL	3.0	1.5	1416	$1,523	$1.08	3d	1	0.14mi
941 47th Pl N Birmingham, AL	3.0	1.0	879	$950	$1.08	25d	1	0.27mi
236 48th St N Birmingham, AL	3.0	2.0	1318	$1,750	$1.33	4d	1	0.30mi
222 49th St N Birmingham, AL	3.0	2.0	1556	$1,800	$1.16	25d	1	0.30mi
934 47th St N Birmingham, AL	3.0	1.0	972	$1,000	$1.03	25d	1	0.39mi
1101 47th St N Birmingham, AL	3.0	2.0	1296	$1,200	$0.93	25d	1	0.45mi
1601 48th St N Birmingham, AL	3.0	1.0	1313	$1,200	$0.91	25d	1	0.58mi
1304 46th St N Birmingham, AL	3.0	1.0	1683	$670	$0.40	17d	1	0.60mi
5811 2nd Ave N Birmingham, AL	2.0	1.0	1000	$1,200	$1.20	5d	1	0.64mi
620 52nd St S Birmingham, AL	3.0	2.0	1346	$2,750	$2.04	25d	1	0.66mi
1705 52nd St N Birmingham, AL	3.0	1.5	1214	$1,100	$0.91	45d	1	0.67mi
813 42nd Pl N Birmingham, AL	3.0	2.0	1424	$1,285	$0.90	45d	1	0.84mi
1117 42nd Pl N Birmingham, AL	3.0	1.0	1026	$900	$0.88	45d	1	0.85mi
5620 8th Ave S Birmingham, AL	3.0	1.0	1508	$2,400	$1.59	13d	1	0.93mi
712 47th Way S Birmingham, AL	2.0	1.0	1042	$1,725	$1.66	21d	1	0.97mi
4345 2nd Ave S Birmingham, AL	3.0	2.0	988	$1,800	$1.82	25d	1	0.99mi
724 47th Way S Unit 1019289P Birmingham, AL	2.0	1.0	1044	$8,438	$8.08	45d	1	1.00mi
4108 7th Ave N Birmingham, AL	3.0	1.0	1100	$1,350	$1.23	25d	1	1.02mi
936 54th St S Birmingham, AL	3.0	1.5	1317	$1,950	$1.48	4d	1	1.04mi
559 63rd St S Birmingham, AL	3.0	1.0	930	$1,000	$1.08	5d	1	1.12mi
6309 3rd Ave S Birmingham, AL	4.0	2.0	1228	$1,495	$1.22	3d	1	1.12mi
1017 Cahaba St Birmingham, AL	2.0	2.0	1035	$1,350	$1.30	5d	1	1.14mi
3920 11th Ave N Birmingham, AL	3.0	2.0	1200	$1,025	$0.85	3d	1	1.24mi
126 66th Pl N Birmingham, AL	2.0	1.0	1038	$1,200	$1.16	16d	1	1.32mi
532 Athens Ct Birmingham, AL	3.0	1.0	1138	$1,125	$0.99	45d	1	1.36mi
1410 46th St S Birmingham, AL	3.0	1.0	1200	$1,000	$0.83	45d	1	1.37mi
6107 Crest Green Rd Birmingham, AL	2.0	1.5	1273	$995	$0.78	45d	1	1.38mi
417 Athens Ave Birmingham, AL	3.0	1.5	978	$1,250	$1.28	25d	1	1.39mi
117 67th Pl N Birmingham, AL	3.0	1.0	1202	$800	$0.67	17d	1	1.42mi

Listing history 7 events

1. 2026-06-07
   statusdays on market $55,000 Pending 38 DOM
2. 2026-06-03
   days on market $55,000 Active 36 DOM
3. 2026-06-02
   days on market $55,000 Active 35 DOM
4. 2026-06-01
   days on market $55,000 Active 34 DOM
5. 2026-05-31
   days on market $55,000 Active 33 DOM
6. 2026-04-28
   listed $55,000 Active 35-char remark
7. 1995-05-01
   soldstatus $15,000

ⓘ 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: $1,124 · $94/mo
• Projected year-2 tax: $1,124 · $94/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 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 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 · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,635
• − Mortgage interest: −$3,081
• − Property taxes: −$1,124
• − Insurance: −$275
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$1,600
• Taxable income: $7,894
• Est. tax owed @ 24.0%: −$1,895
• After-tax cash flow: $6,387/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: Birmingham City
• NCES district ID: 0100390
• Math proficiency: 4% ▼ -17.00%
• Reading proficiency: 20% ▼ -4.00%
• Median HH income: $31,988
• Composite: 9.49/100
• National rank: #9850
• State rank: #116 of 129 in AL

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

• Census place: Birmingham, AL
• County: Jefferson County · 527,445 people
• City population: 210,422
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 10,160
• Household income: $36,633
• Rent vs Own: 55.4% rent · 44.6% own
• Severe rent burden: 798.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 24% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Slovak 2% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -190.24%
• Current HPI: 120.1264
• Rent YoY: —
• 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

+266.7% since first listed

3 events — show timeline

• 2026-06-05 Pending — Greater Alabama MLS
• 2026-04-28 Listed $55,000 Greater Alabama MLS
• 1995-05-01 Sold (Public Records) $15,000 Public Records

Property tax history

+18.7%/yr

Latest (2025): $1,124 · +0.0% YoY. Source: county tax records.