633 6th St · Birmingham, AL 35214

$78,900

3 bd · 1.0 ba · 1,148 sqft · Land · 60 Days on market

Built 1910 8,712 sqft lot ↓ 7% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Great investment property. This home is currently a Section 8 property and being leased for $985 per month. The lease is good until Jan 2026. 3 bedroom 1 full bath.

Key facts

• 8,712 sq ft lot
• Built 1910
• Listed 60 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath land listed at $79k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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: Tuggle Elementary School (math 2% / reading 17%, grade F, #591 of 627 statewide, top 94%, 470 students, 87% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: Rents flat; 116 active listings in the ZIP; 25 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 $545 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 + 0.7% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $76,533 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1910 — 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: 1.47% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.13%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.37×
• Total profit: $8,253
• Equity at exit: $11,764

10-year hold

• IRR: 16.9%
• Equity multiple: 2.25×
• Total profit: $27,534
• Equity at exit: $6,822

Cash invested: $22,092 (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 35214

• Home prices YoY: -20.0%
• Rents YoY: 0.7%
• Active inventory: 116
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,159 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,184/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $371

Break-even live

Break-even rent $690

Max offer price $78,900

Occupancy floor 63%

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: $19,725
• Closing costs: $2,367
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1174 16th Avenue Thomas Birmingham, AL	2.0	1.0	1000	$750	$0.75	43d	1	0.25mi
128 Thomas Cir Birmingham, AL	3.0	1.0	777	$2,550	$3.28	43d	1	0.53mi
757 10th Ave W Birmingham, AL	2.0	1.0	1136	$1,000	$0.88	43d	1	0.82mi
517 11th Ct W Birmingham, AL	2.0	1.0	970	$795	$0.82	43d	1	0.86mi
905 7th St W Birmingham, AL	3.0	2.0	1029	$1,150	$1.12	43d	1	1.02mi
915 6th St W Birmingham, AL	3.0	1.0	1332	$1,075	$0.81	43d	1	1.05mi
1411 Magnolia Dr Unit 1411 Birmingham, AL	2.0	1.0	867	$950	$1.10	43d	1	1.09mi
1642 Graymont Ave W Birmingham, AL	3.0	1.0	1219	$1,090	$0.89	3d	1	1.11mi
213 Beech Ave Birmingham, AL	3.0	1.0	1288	$1,000	$0.78	19d	1	1.11mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	43d	1	1.14mi
3113 Pike Rd Birmingham, AL	3.0	2.0	1143	$1,275	$1.12	43d	1	1.15mi
1739 Huntington Dr Birmingham, AL	3.0	2.0	1008	$1,150	$1.14	3d	1	1.17mi
1101 7th Ave W Birmingham, AL	3.0	1.0	1248	$1,250	$1.00	43d	1	1.20mi
963 3rd St W Birmingham, AL	3.0	2.0	1444	$1,295	$0.90	23d	1	1.23mi
1425 Hibernian St Birmingham, AL	3.0	1.0	1152	$1,200	$1.04	23d	1	1.23mi
410 8th Ter W Birmingham, AL	3.0	1.0	1440	$1,200	$0.83	16d	1	1.24mi
609 Cherry Ave Birmingham, AL	3.0	1.5	1104	$1,495	$1.35	23d	1	1.24mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	2d	1	1.24mi
408 Miles Ave Birmingham, AL	3.0	2.0	1377	$1,050	$0.76	21d	1	1.25mi
827 6th Ave W Birmingham, AL	3.0	1.0	1214	$1,075	$0.89	23d	1	1.30mi
617 7th St W Birmingham, AL	3.0	1.5	1120	$1,175	$1.05	43d	1	1.33mi
315 Avenue U Birmingham, AL	3.0	1.0	1088	$1,200	$1.10	3d	1	1.34mi
1720 Cullman Ave Unit 3 Birmingham, AL	3.0	2.0	1174	$950	$0.81	43d	1	1.36mi
1720 Cullman Ave Unit 2 Birmingham, AL	3.0	1.0	1174	$899	$0.77	21d	1	1.36mi
1153 2nd St N Birmingham, AL	3.0	1.0	1056	$1,150	$1.09	19d	1	1.48mi

Listing history 3 events

1. 2025-06-23
   status Pending
2. 2025-05-20
   price $78,900
3. 2025-04-24
   listed $85,000 Active

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $13,911
• − Mortgage interest: −$4,420
• − Property taxes: −$1,184
• − Insurance: −$394
• − Repairs & maintenance: −$1,113
• − Management: −$1,113
• − Depreciation: −$2,295
• Taxable income: $3,392
• Est. tax owed @ 24.0%: −$814
• After-tax cash flow: $3,632/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): 17,027
• Household income: $56,383
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 578.0

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 18% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▼ -54.48%
• Current HPI: 218.5233
• Rent YoY: ▲ 0.74%
• 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

-7.2% since first listed

3 events — show timeline

• 2025-06-23 Pending — Greater Alabama MLS
• 2025-05-20 Price Changed $78,900 Greater Alabama MLS
• 2025-04-24 Listed $85,000 Greater Alabama MLS

Property tax history

+0.0%/yr

Latest (2025): $36 · +0.0% YoY. Source: county tax records.