2808 24th St · Birmingham, AL 35208

$50,000

2 bd · 1.0 ba · 720 sqft · SingleFamily · 137 Days on market

Built 1954 8,712 sqft lot $69/sqft · at area comps Est $48k · at est.

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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 +5.8/15.0
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great potential rental property in Ensley! 2 Bedrooms and a full bath, living room, kitchen and laundry area. Low maintenance vinyl siding, metal roof, vinyl plank flooring.

Key facts

• Metal roof
• Vinyl siding
• Vinyl plank flooring

Tags

• VINYL SIDING
• METAL ROOF
• VINYL PLANK FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($925 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.5% 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-, schools F, crime 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.
• Market conditions: Rents rising fast (+7.2%/yr); 122 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 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 + 7.2% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1954 — 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: 1.85% ✓
• Cap rate: 15.54%
• Cash-on-cash: 33.04%
• DSCR: 2.47
• GRM: 4.5

CMA / ARV

• ARV (median comp): $48,221
• List price: $50,000
• Delta: 3.69%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 33.0%
• Equity multiple: 2.47×
• Total profit: $20,580
• Equity at exit: $7,455

10-year hold

• IRR: 42.2%
• Equity multiple: 5.86×
• Total profit: $68,029
• Equity at exit: $4,323

Cash invested: $14,000 (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 35208

• Home prices YoY: -18.1%
• Rents YoY: 7.2%
• Active inventory: 122
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $925 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $385

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 53%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	2d	1	0.66mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	3d	1	0.66mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	10d	1	0.66mi
2300 21st Ave N Birmingham, AL	2.0	1.0	700	$880	$1.26	44d	2	0.67mi
2000 Stouts Rd Birmingham, AL	2.0	1.0	700	$880	$1.26	44d	2	0.75mi
2608 20th Ave N Unit 5 Birmingham, AL	2.0	1.0	750	$875	$1.17	44d	1	0.76mi
2608 20th Ave N Birmingham, AL	2.0	1.0	750	$895	$1.19	44d	1	0.76mi
2400 19th Ave N Unit B Birmingham, AL	2.0	1.0	750	$850	$1.13	21d	1	0.80mi
1911 19th Ct N Apt 1 Birmingham, AL	2.0	1.0	750	$845	$1.13	12d	1	0.86mi
3311 16th Ave N Unit 3317 Birmingham, AL	2.0	1.0	750	$850	$1.13	44d	1	1.28mi
3311 16th Ave N Unit 3321 Birmingham, AL	2.0	1.0	750	$850	$1.13	24d	1	1.28mi
3311 16th Ave N Unit 3323 Birmingham, AL	2.0	1.0	750	$850	$1.13	2d	1	1.29mi
2413 14th Ave N Birmingham, AL	2.0	1.0	720	$675	$0.94	2d	3	1.31mi
1802 14th Ct N Birmingham, AL	2.0	1.0	700	$850	$1.21	19d	1	1.36mi
1500 12th St N Birmingham, AL	2.0	1.0	750	$800	$1.07	24d	1	1.39mi

Listing history 17 events

1. 2026-06-18
   days on market $50,000 Active 137 DOM
2. 2026-06-17
   days on market $50,000 Active 136 DOM
3. 2026-06-16
   days on market $50,000 Active 135 DOM
4. 2026-06-15
   days on market $50,000 Active 134 DOM
5. 2026-06-13
   days on market $50,000 Active 132 DOM
6. 2026-06-10
   days on market $50,000 Active 129 DOM
7. 2026-06-09
   days on market $50,000 Active 128 DOM
8. 2026-06-08
   days on market $50,000 Active 127 DOM
9. 2026-06-07
   days on market $50,000 Active 126 DOM
10. 2026-06-03
    days on market $50,000 Active 122 DOM
11. 2026-06-02
    days on market $50,000 Active 121 DOM
12. 2026-06-01
    days on market $50,000 Active 120 DOM
13. 2026-05-31
    days on market $50,000 Active 119 DOM
14. 2026-02-01
    listed $50,000 Active 173-char remark

    Show marketing remark (173 chars)

    Great potential rental property in Ensley! 2 Bedrooms and a full bath, living room, kitchen and laundry area. Low maintenance vinyl siding, metal roof, vinyl plank flooring.

15. 2021-01-26
    soldstatus $44,000 Sold 224-char remark

    Show marketing remark (224 chars)

    Great Turnkey Investment Opportunity! This is an excellent cash flowing investment property that is currently rented for $750/month with a Section 8 tenant. The house has low maintenance vinyl siding, new flooring and paint.

16. 2020-12-22
    historical Contingent 224-char remark

    Show marketing remark (224 chars)

    Great Turnkey Investment Opportunity! This is an excellent cash flowing investment property that is currently rented for $750/month with a Section 8 tenant. The house has low maintenance vinyl siding, new flooring and paint.

17. 2020-12-04
    listed $44,900 Active 224-char remark

    Show marketing remark (224 chars)

    Great Turnkey Investment Opportunity! This is an excellent cash flowing investment property that is currently rented for $750/month with a Section 8 tenant. The house has low maintenance vinyl siding, new flooring and paint.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,104
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$888
• − Management: −$888
• − Depreciation: −$1,455
• Taxable income: $4,072
• Est. tax owed @ 24.0%: −$977
• After-tax cash flow: $3,649/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): 13,412
• Household income: $38,561
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 573.0

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 (94%)
• Race & ethnicity: Black 94% White 4% Hispanic / Latino 2% Two or more races 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -33.99%
• Current HPI: 153.414
• Rent YoY: ▲ 7.24%
• 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

+11.4% since first listed

4 events — show timeline

• 2026-02-01 Listed $50,000 Greater Alabama MLS
• 2021-01-26 Sold (MLS) $44,000 Greater Alabama MLS
• 2020-12-22 Contingent — Greater Alabama MLS
• 2020-12-04 Listed $44,900 Greater Alabama MLS