208 23rd St SW · Birmingham, AL 35211

$120,900

3 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 533 Days on market

Built 1947 7,405 sqft lot $89/sqft · 108% above area

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Why this score? — see what drove the D+ 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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.8/10.0
• 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 MLS

Newly renovated 3 Bedrooms, 2 Full baths. Spacious kitchen equipped with all appliances. Brand new HVAC, Plumbing, electrical, wiring, new paint inside and out. Home has a large deck and fenced backyard with storage building.

Key facts

• Large deck
• Spacious kitchen
• Storage building

Tags

• SPACIOUS KITCHEN
• LARGE DECK
• FENCED BACKYARD
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $121k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (1.7% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 6.2% 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-, 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 soft (-0.0%/yr); 154 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 41% of the median local income ($35k/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 $836 of loan paydown is wiped out by about $4k 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 533 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $121k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• 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 $106,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 533 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 1947 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 7.97%
• Cash-on-cash: 5.98%
• DSCR: 1.27
• GRM: 8.5

CMA / ARV

• ARV (median comp): $58,018
• List price: $120,900
• Delta: 108.38%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4829 Avenue	0.37mi	3/1.0	1,247 (-8%)	5mo	$50,000	$40	65
915 19th Pl SW	0.47mi	4/1.0 (+1)	1,434 (+5%)	2mo	$20,000	$14	63
829 28th St SW	0.73mi	3/1.0	1,380 (+2%)	2mo	$86,000	$62	62
4728 Terrace	0.47mi	3/2.0	1,276 (-6%)	4mo	$29,900	$23	60
4637 Avenue R	0.66mi	2/1.0 (-1)	1,378 (+1%)	3mo	$28,500	$21	60
1825 49th St	0.40mi	3/1.0	1,532 (+13%)	4mo	$51,000	$33	57
1113 51st St	0.49mi	3/2.0	1,231 (-10%)	3mo	$204,900	$166	55
2312 Beulah Ave SW	0.57mi	3/2.0	1,488 (+9%)	1mo	$88,400	$59	53
820 28th St SW	0.72mi	3/1.5	1,440 (+6%)	4mo	$170,000	$118	51
1836 Bessemer Rd	0.74mi	3/1.0	1,258 (-8%)	4mo	$55,000	$44	50
724 18th Pl SW	0.50mi	4/2.0 (+1)	1,508 (+11%)	4mo	$48,900	$32	46
540 Francis St SW	0.72mi	3/2.0	1,225 (-10%)	4mo	$82,500	$67	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.64×
• Total profit: $-12,348
• Equity at exit: $18,027

10-year hold

• IRR: -5.4%
• Equity multiple: 0.69×
• Total profit: $-10,462
• Equity at exit: $10,453

Cash invested: $33,852 (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 35211

• Rents YoY: -0.0%
• Active inventory: 154
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,188 high
• Mortgage (P&I): −$634
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $169

Break-even live

Break-even rent $975

Max offer price $120,900

Occupancy floor 81%

Sensitivity live

Price	-10% $237	-5% $203	+0% $169	+5% $135	+10% $100
Rent	-10% $75	-5% $122	+0% $169	+5% $216	+10% $263
Rate	-1.0pp $230	-0.5pp $200	base $169	+0.5pp $137	+1.0pp $106

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: $30,225
• Closing costs: $3,627
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 22nd St SW Birmingham, AL	2.0	1.0	926	$1,050	$1.13	5d	1	0.09mi
2216 Lee Ave SW Birmingham, AL	3.0	1.0	902	$900	$1.00	25d	1	0.12mi
2026 Lee Ct SW Birmingham, AL	3.0	1.0	1204	$1,100	$0.91	45d	1	0.14mi
312 25th St SW Birmingham, AL	4.0	1.0	1159	$1,000	$0.86	25d	1	0.17mi
2519 Saint Charles Ave SW Birmingham, AL	2.0	1.0	990	$975	$0.98	46d	1	0.18mi
2028 Lee Ter SW Birmingham, AL	2.0	1.0	884	$695	$0.79	45d	1	0.19mi
407 S Park Rd SW Birmingham, AL	3.0	1.0	1050	$900	$0.86	45d	1	0.28mi
1933 Saint Charles Ct SW Birmingham, AL	3.0	1.0	1106	$1,050	$0.95	25d	1	0.34mi
4825 Avenue S Birmingham, AL	3.0	1.0	1310	$1,050	$0.80	17d	1	0.36mi
612 26th St SW Birmingham, AL	2.0	1.0	988	$825	$0.84	45d	1	0.37mi
1900 Saint Charles Ave SW Birmingham, AL	4.0	2.0	1623	$1,350	$0.83	3d	1	0.37mi
4813 Court S Birmingham, AL	3.0	2.0	1118	$1,125	$1.01	45d	1	0.38mi
4929 Avenue R Unit R Birmingham, AL	2.0	1.0	962	$950	$0.99	45d	1	0.39mi
4801 Avenue S Birmingham, AL	3.0	1.0	1310	$1,000	$0.76	45d	1	0.42mi
2017 48th Street Ensley Birmingham, AL	3.0	2.0	1383	$1,250	$0.90	45d	1	0.42mi
4817 Court R Birmingham, AL	3.0	2.0	1530	$1,300	$0.85	17d	1	0.44mi
4736 Court S Birmingham, AL	3.0	1.5	1300	$1,200	$0.92	5d	1	0.45mi
4732 Court S Birmingham, AL	3.0	1.0	1372	$1,100	$0.80	45d	1	0.46mi
2320 Wesley Ave SW Birmingham, AL	4.0	1.0	1865	$1,200	$0.64	12d	1	0.50mi
2409 Garrison Ave SW Birmingham, AL	4.0	2.0	1000	$1,295	$1.29	45d	1	0.52mi
1781 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1069	$950	$0.89	45d	1	0.54mi
1816 Saint Charles Ave SW Birmingham, AL	3.0	1.0	1395	$1,295	$0.93	25d	1	0.55mi
4724 Court R Birmingham, AL	2.0	1.0	1016	$895	$0.88	16d	1	0.55mi
2304 Beulah Ave SW Birmingham, AL	3.0	1.0	1283	$1,025	$0.80	3d	1	0.56mi
2133 47th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1308	$1,300	$0.99	45d	1	0.56mi
2904 Garrison Ave SW Birmingham, AL	4.0	2.0	952	$1,050	$1.10	25d	1	0.57mi
1757 48th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1164	$1,295	$1.11	4d	1	0.57mi
4637 Court S Birmingham, AL	3.0	1.0	1225	$975	$0.80	3d	1	0.58mi
4636 Avenue T Unit T Birmingham, AL	4.0	1.5	1842	$1,500	$0.81	3d	1	0.58mi
1728 Princeton Ave SW Birmingham, AL	4.0	2.0	1334	$1,300	$0.97	45d	1	0.60mi
1734 Lee Ave SW Birmingham, AL	4.0	1.0	1142	$1,150	$1.01	21d	1	0.61mi
709 30th St SW Birmingham, AL	3.0	1.0	1273	$1,000	$0.79	45d	1	0.62mi
4612 Terrace S Birmingham, AL	3.0	1.0	1612	$1,050	$0.65	45d	1	0.63mi
1209 19th Pl SW Birmingham, AL	3.0	1.0	1050	$1,275	$1.21	45d	1	0.69mi
5320 Ter Q Unit Q Birmingham, AL	3.0	2.0	1116	$1,250	$1.12	45d	1	0.69mi
5219 Court Q Birmingham, AL	3.0	2.0	1082	$1,200	$1.11	21d	1	0.69mi
504 Francis Pl SW Birmingham, AL	3.0	2.0	1816	$1,223	$0.67	25d	1	0.71mi
4619 Terrace Q Birmingham, AL	3.0	2.0	1198	$900	$0.75	45d	1	0.72mi
1800 Woodland Ave SW Birmingham, AL	4.0	1.0	1411	$1,195	$0.85	3d	1	0.72mi
1228 19th Pl SW Birmingham, AL	3.0	2.0	978	$1,195	$1.22	5d	1	0.72mi

Listing history 24 events

1. 2026-06-21
   days on market $120,900 Active 533 DOM
2. 2026-06-18
   days on market $120,900 Active 530 DOM
3. 2026-06-17
   days on market $120,900 Active 529 DOM
4. 2026-06-16
   days on market $120,900 Active 528 DOM
5. 2026-06-15
   days on market $120,900 Active 527 DOM
6. 2026-06-13
   days on market $120,900 Active 525 DOM
7. 2026-06-10
   days on market $120,900 Active 522 DOM
8. 2026-06-09
   days on market $120,900 Active 521 DOM
9. 2026-06-08
   days on market $120,900 Active 520 DOM
10. 2026-06-07
    days on market $120,900 Active 519 DOM
11. 2026-06-03
    days on market $120,900 Active 515 DOM
12. 2026-06-02
    days on market $120,900 Active 514 DOM
13. 2026-06-01
    days on market $120,900 Active 513 DOM
14. 2026-05-31
    days on market $120,900 Active 512 DOM
15. 2026-01-05
    price $120,900 225-char remark

    Show marketing remark (225 chars)

    Newly renovated 3 Bedrooms, 2 Full baths. Spacious kitchen equipped with all appliances. Brand new HVAC, Plumbing, electrical, wiring, new paint inside and out. Home has a large deck and fenced backyard with storage building.

16. 2026-01-05
    status Active 225-char remark

    Show marketing remark (225 chars)

    Newly renovated 3 Bedrooms, 2 Full baths. Spacious kitchen equipped with all appliances. Brand new HVAC, Plumbing, electrical, wiring, new paint inside and out. Home has a large deck and fenced backyard with storage building.

17. 2026-01-04
    historical 225-char remark

    Show marketing remark (225 chars)

    Newly renovated 3 Bedrooms, 2 Full baths. Spacious kitchen equipped with all appliances. Brand new HVAC, Plumbing, electrical, wiring, new paint inside and out. Home has a large deck and fenced backyard with storage building.

18. 2025-01-04
    listed $129,900 Active 225-char remark

    Show marketing remark (225 chars)

    Newly renovated 3 Bedrooms, 2 Full baths. Spacious kitchen equipped with all appliances. Brand new HVAC, Plumbing, electrical, wiring, new paint inside and out. Home has a large deck and fenced backyard with storage building.

19. 2024-01-03
    soldstatus $52,900
20. 2023-12-25
    soldstatus $52,900 Sold 170-char remark

    Show marketing remark (170 chars)

    Home has 3 bedrooms and 2 baths. Living room with gas log fireplace, dining room and kitchen plus a separate den. Home needs some TLC. Being sold as is. Cash offers only.

21. 2023-12-19
    status Pending 170-char remark

    Show marketing remark (170 chars)

    Home has 3 bedrooms and 2 baths. Living room with gas log fireplace, dining room and kitchen plus a separate den. Home needs some TLC. Being sold as is. Cash offers only.

22. 2023-11-04
    price $54,900 170-char remark

    Show marketing remark (170 chars)

    Home has 3 bedrooms and 2 baths. Living room with gas log fireplace, dining room and kitchen plus a separate den. Home needs some TLC. Being sold as is. Cash offers only.

23. 2023-09-25
    listed $59,900 Active 170-char remark

    Show marketing remark (170 chars)

    Home has 3 bedrooms and 2 baths. Living room with gas log fireplace, dining room and kitchen plus a separate den. Home needs some TLC. Being sold as is. Cash offers only.

24. 1983-12-01
    soldstatus $30,000

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,028 · $86/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,260
• − Mortgage interest: −$6,772
• − Property taxes: −$1,028
• − Insurance: −$604
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$3,517
• Taxable income: $57
• Est. tax owed @ 24.0%: −$14
• After-tax cash flow: $2,011/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): 24,924
• Household income: $34,884
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2161.0

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 (77%)
• Race & ethnicity: Black 77% White 10% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8% 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: ▼ -49.29%
• Current HPI: 91.2903
• Rent YoY: ▬ -0.01%
• 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

+303.0% since first listed

10 events — show timeline

• 2026-01-05 Price Changed $120,900 Greater Alabama MLS
• 2026-01-05 Relisted — Greater Alabama MLS
• 2026-01-04 Delisted — Greater Alabama MLS
• 2025-01-04 Listed $129,900 Greater Alabama MLS
• 2024-01-03 Sold (Public Records) $52,900 Public Records
• 2023-12-25 Sold (MLS) $52,900 Greater Alabama MLS
• 2023-12-19 Pending — Greater Alabama MLS
• 2023-11-04 Price Changed $54,900 Greater Alabama MLS
• 2023-09-25 Listed $59,900 Greater Alabama MLS
• 1983-12-01 Sold (Public Records) $30,000 Public Records

Property tax history

+9.7%/yr

Latest (2025): $1,028 · +0.0% YoY. Source: county tax records.