405 Skyview Dr Unit j · Birmingham, AL 35209

$95,000

1 bd · 1.0 ba · 720 sqft · Condo · 165 Days on market

Built 1980 Fair condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• 1% rule +5.2/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• DSCR +0.9/10.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turn Key opportunity

Key facts

• Built 1980
• Listed 165 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($966 rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.3% vs local median 6.2% in Birmingham — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+3.3%/yr); 99 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent is only 16% of the median local income ($71k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 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.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.
• Current owner paid $65k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 4.33%
• Cash-on-cash: -7.01%
• DSCR: 0.69
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.34% rent growth · sell at horizon

5-year hold

• IRR: -27.6%
• Equity multiple: 0.07×
• Total profit: $-24,787
• Equity at exit: $14,165

10-year hold

• IRR: -23.4%
• Equity multiple: -0.21×
• Total profit: $-32,250
• Equity at exit: $8,214

Cash invested: $26,600 (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 35209

• Rents YoY: 3.3%
• Active inventory: 99
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $966 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA est. from 1 same-building comp: −$262
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $-155

Break-even live

Break-even rent $1,163

Max offer price $72,507

Occupancy floor —

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 Olympia Dr Homewood, AL	1.0–3.0	1.0–2.5	958	$720	$0.75	2d	33	0.32mi
2418 Green Springs Hwy Birmingham, AL	1.0	1.0	750	$895	$1.19	44d	5	0.40mi
2700 Temple Crest Dr Birmingham, AL	1.0–2.0	1.0–1.5	776	$945	$1.22	44d	1	0.75mi
316 Beacon Crest Ln Birmingham, AL	1.0–2.0	1.0	850	$950	$1.12	2d	7	0.79mi
2049 Green Springs Hwy Unit 2 Birmingham, AL	1.0	1.0	605	$750	$1.24	44d	1	0.89mi
1010 Beacon Pkwy E Birmingham, AL	1.0–2.0	1.0–2.0	945	$1,640	$1.73	2d	18	0.93mi
513 Valley Ave Birmingham, AL	3.0	1.0–2.0	1012	$1,066	$1.05	44d	1	0.95mi
1000 Beacon Pkwy E Unit 1035D Birmingham, AL	1.0	1.0	750	$975	$1.30	44d	1	1.01mi
834 Golden Gate Ln Birmingham, AL	1.0–3.0	1.0–2.0	1050	$900	$0.86	44d	12	1.14mi
834 Golden Gate Ln Birmingham, AL	1.0–3.0	1.0–2.0	1050	$900	$0.86	2d	13	1.14mi
741 Barcelona Ct Birmingham, AL	1.0	1.0	699	$950	$1.36	3d	5	1.14mi
825 Oak Leaf Cir Birmingham, AL	1.0–2.0	1.0–2.0	820	$1,000	$1.22	44d	1	1.17mi
261 3rd Ave SW Birmingham, AL	1.0–2.0	1.0	634	$750	$1.18	3d	14	1.27mi
633 Idlewild Cir Unit A7 Birmingham, AL	1.0	1.0	750	$1,044	$1.39	16d	1	1.39mi
633 Idlewild Cir Unit A1 Birmingham, AL	1.0	1.0	750	$1,052	$1.40	44d	1	1.39mi
915 Valley Ridge Dr Birmingham, AL	1.0–3.0	1.0–2.5	1087	$799	$0.73	2d	34	1.43mi
609 Idlewild Cir Apt B Birmingham, AL	2.0	1.0	705	$875	$1.24	3d	1	1.47mi
914 14th St SW Unit B Birmingham, AL	1.0	1.0	577	$700	$1.21	24d	1	1.48mi
914 14th St SW Unit B Birmingham, AL	1.0	1.0	580	$600	$1.03	12d	1	1.48mi
914 14th St SW Unit A Birmingham, AL	1.0	1.0	577	$600	$1.04	24d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-31
   days on market $95,000 Active 165 DOM
2. 2025-12-17
   listed $95,000 Active 20-char remark

   Show marketing remark (20 chars)

   Turn Key opportunity

3. 2023-06-08
   soldstatus $65,000 Sold 1020-char remark

   Show marketing remark (1020 chars)

   SUPER SPACIOUS one bedroom condo with recent refresh! Condo is spotless & features FRESH CREAM-COLORED PAINT throughout and BRAND NEW CARPET. The neat & tidy galley kitchen has neutral laminate counters, a large number of cabinets, all appliances remain, plenty of countertop space for meal prep and/or serving, and counter seating open to the living room so whoever's in the kitchen can stay connected with guests in the living room. This unit features a very nice FIREPLACE and has a covered porch adjacent to the living room - great for gathering & entertaining! A small storage room is located on the porch. The bathroom is roomy w/ a large vanity and new sink. Shower and toilet area are separate and can also be accessed through the bedroom's large walk-in closet. The laundry closet is in this space as well (washer/dryer set remains). Skyview's LOCATION is HARD to beat! Just a hop, skip, & a jump from downtown or Homewood. Fantastic investment opportunity for UAB and SAMFORD students!

4. 2023-06-03
   historical Contingent 1020-char remark

   Show marketing remark (1020 chars)

   SUPER SPACIOUS one bedroom condo with recent refresh! Condo is spotless & features FRESH CREAM-COLORED PAINT throughout and BRAND NEW CARPET. The neat & tidy galley kitchen has neutral laminate counters, a large number of cabinets, all appliances remain, plenty of countertop space for meal prep and/or serving, and counter seating open to the living room so whoever's in the kitchen can stay connected with guests in the living room. This unit features a very nice FIREPLACE and has a covered porch adjacent to the living room - great for gathering & entertaining! A small storage room is located on the porch. The bathroom is roomy w/ a large vanity and new sink. Shower and toilet area are separate and can also be accessed through the bedroom's large walk-in closet. The laundry closet is in this space as well (washer/dryer set remains). Skyview's LOCATION is HARD to beat! Just a hop, skip, & a jump from downtown or Homewood. Fantastic investment opportunity for UAB and SAMFORD students!

5. 2023-06-01
   status Active 1020-char remark

   Show marketing remark (1020 chars)

   SUPER SPACIOUS one bedroom condo with recent refresh! Condo is spotless & features FRESH CREAM-COLORED PAINT throughout and BRAND NEW CARPET. The neat & tidy galley kitchen has neutral laminate counters, a large number of cabinets, all appliances remain, plenty of countertop space for meal prep and/or serving, and counter seating open to the living room so whoever's in the kitchen can stay connected with guests in the living room. This unit features a very nice FIREPLACE and has a covered porch adjacent to the living room - great for gathering & entertaining! A small storage room is located on the porch. The bathroom is roomy w/ a large vanity and new sink. Shower and toilet area are separate and can also be accessed through the bedroom's large walk-in closet. The laundry closet is in this space as well (washer/dryer set remains). Skyview's LOCATION is HARD to beat! Just a hop, skip, & a jump from downtown or Homewood. Fantastic investment opportunity for UAB and SAMFORD students!

6. 2023-05-24
   historical Contingent 1020-char remark

   Show marketing remark (1020 chars)

   SUPER SPACIOUS one bedroom condo with recent refresh! Condo is spotless & features FRESH CREAM-COLORED PAINT throughout and BRAND NEW CARPET. The neat & tidy galley kitchen has neutral laminate counters, a large number of cabinets, all appliances remain, plenty of countertop space for meal prep and/or serving, and counter seating open to the living room so whoever's in the kitchen can stay connected with guests in the living room. This unit features a very nice FIREPLACE and has a covered porch adjacent to the living room - great for gathering & entertaining! A small storage room is located on the porch. The bathroom is roomy w/ a large vanity and new sink. Shower and toilet area are separate and can also be accessed through the bedroom's large walk-in closet. The laundry closet is in this space as well (washer/dryer set remains). Skyview's LOCATION is HARD to beat! Just a hop, skip, & a jump from downtown or Homewood. Fantastic investment opportunity for UAB and SAMFORD students!

7. 2023-05-18
   price $75,000 1020-char remark

   Show marketing remark (1020 chars)

   SUPER SPACIOUS one bedroom condo with recent refresh! Condo is spotless & features FRESH CREAM-COLORED PAINT throughout and BRAND NEW CARPET. The neat & tidy galley kitchen has neutral laminate counters, a large number of cabinets, all appliances remain, plenty of countertop space for meal prep and/or serving, and counter seating open to the living room so whoever's in the kitchen can stay connected with guests in the living room. This unit features a very nice FIREPLACE and has a covered porch adjacent to the living room - great for gathering & entertaining! A small storage room is located on the porch. The bathroom is roomy w/ a large vanity and new sink. Shower and toilet area are separate and can also be accessed through the bedroom's large walk-in closet. The laundry closet is in this space as well (washer/dryer set remains). Skyview's LOCATION is HARD to beat! Just a hop, skip, & a jump from downtown or Homewood. Fantastic investment opportunity for UAB and SAMFORD students!

8. 2023-04-19
   listed $80,000 Active 1020-char remark

   Show marketing remark (1020 chars)

   SUPER SPACIOUS one bedroom condo with recent refresh! Condo is spotless & features FRESH CREAM-COLORED PAINT throughout and BRAND NEW CARPET. The neat & tidy galley kitchen has neutral laminate counters, a large number of cabinets, all appliances remain, plenty of countertop space for meal prep and/or serving, and counter seating open to the living room so whoever's in the kitchen can stay connected with guests in the living room. This unit features a very nice FIREPLACE and has a covered porch adjacent to the living room - great for gathering & entertaining! A small storage room is located on the porch. The bathroom is roomy w/ a large vanity and new sink. Shower and toilet area are separate and can also be accessed through the bedroom's large walk-in closet. The laundry closet is in this space as well (washer/dryer set remains). Skyview's LOCATION is HARD to beat! Just a hop, skip, & a jump from downtown or Homewood. Fantastic investment opportunity for UAB and SAMFORD students!

9. 2023-04-10
   historical $80,000 1020-char remark

   Show marketing remark (1020 chars)

   SUPER SPACIOUS one bedroom condo with recent refresh! Condo is spotless & features FRESH CREAM-COLORED PAINT throughout and BRAND NEW CARPET. The neat & tidy galley kitchen has neutral laminate counters, a large number of cabinets, all appliances remain, plenty of countertop space for meal prep and/or serving, and counter seating open to the living room so whoever's in the kitchen can stay connected with guests in the living room. This unit features a very nice FIREPLACE and has a covered porch adjacent to the living room - great for gathering & entertaining! A small storage room is located on the porch. The bathroom is roomy w/ a large vanity and new sink. Shower and toilet area are separate and can also be accessed through the bedroom's large walk-in closet. The laundry closet is in this space as well (washer/dryer set remains). Skyview's LOCATION is HARD to beat! Just a hop, skip, & a jump from downtown or Homewood. Fantastic investment opportunity for UAB and SAMFORD students!

ⓘ 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: $11,591
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$927
• − Management: −$927
• − HOA: −$3,144
• − Depreciation: −$2,764
• Taxable loss: −$3,393
• Est. tax savings @ 24.0%: +$814
• After-tax cash flow: $-1,051/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.

Condition & rehab AI · 7 photos

Fair 45/100 Cosmetic rehab

This one-bedroom condo is in fair condition with some cosmetic updates needed. It offers a spacious layout and a fireplace, making it a turn-key opportunity for a potential buyer or renter.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom vanity — simple design

Value-add opportunities

• Both update kitchen countertops — modernize and increase functionality
• Both install new flooring — improve aesthetics and increase value
• Both paint interior walls — refresh and brighten the space

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom vanity · simple design	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both update kitchen countertops — modernize and increase functionality ↑
• Both install new flooring — improve aesthetics and increase value ↑
• Both paint interior walls — refresh and brighten the space ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 32,734
• Household income: $71,439
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1879.0

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 (64%)
• Race & ethnicity: White 64% Black 23% Hispanic / Latino 7% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 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: ▼ -472.07%
• Current HPI: 312.2185
• Rent YoY: ▲ 3.34%
• 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

+18.8% since first listed

8 events — show timeline

• 2025-12-17 Listed $95,000 Greater Alabama MLS
• 2023-06-08 Sold (MLS) $65,000 Greater Alabama MLS
• 2023-06-03 Contingent — Greater Alabama MLS
• 2023-06-01 Relisted — Greater Alabama MLS
• 2023-05-24 Contingent — Greater Alabama MLS
• 2023-05-18 Price Changed $75,000 Greater Alabama MLS
• 2023-04-19 Listed $80,000 Greater Alabama MLS
• 2023-04-10 Coming Soon $80,000 Greater Alabama MLS