8321 Vassar Ave · Birmingham, AL 35206

$124,000

3 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 181 Days on market

Built 1946 7,840 sqft lot $95/sqft · 24% above area Est $100k · 24% over

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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 +19.9/30.0
• DSCR +6.3/10.0
• 1% rule +4.8/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PRICE! Look at this one! Cute 3/1, well maintained home with ample space. Open floor plan for family gatherings or entertaining. Screened in back porch for privacy. Alley access to additional covered parking area. Seller will pay $2000. toward buyer costs. Currently rented for $1000.00, great for investors!

Key facts

• Alley access
• Open floor plan
• Covered parking area

Tags

• OPEN FLOOR PLAN
• SCREENED IN BACK PORCH
• ALLEY ACCESS
• COVERED PARKING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $150 ($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 $121k (2.3% below list).
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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 rising (+1.8%/yr); 128 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 34% of the median local income ($43k/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 $857 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 181 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $109,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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 1946 — 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: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• GRM: 8.5

CMA / ARV

• ARV (median comp): $100,237
• List price: $124,000
• Delta: 23.71%
• 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
617 83rd Pl S	0.06mi	3/1.0	1,344 (+3%)	0mo	$82,000	$61	92
8315 4th Ave S	0.17mi	3/1.0	1,288 (-1%)	2mo	$84,000	$65	88
8201 4th Ave S	0.21mi	3/2.0	1,334 (+2%)	0mo	$170,000	$127	82
8236 2nd Ave S	0.36mi	3/1.0	1,326 (+2%)	2mo	$57,750	$44	79
8313 3rd Ave S	0.25mi	3/1.0	1,195 (-8%)	2mo	$90,000	$75	73
461 Ridge Rd	0.53mi	3/2.0	1,311 (+0%)	2mo	$258,000	$197	69
709 85th St S	0.34mi	3/2.0	1,448 (+11%)	1mo	$185,000	$128	61
7915 7th Ave S	0.50mi	3/1.0	1,162 (-11%)	1mo	$85,000	$73	58
740 81st Pl S	0.26mi	2/2.0 (-1)	1,137 (-13%)	1mo	$40,000	$35	57
7830 5th Ave S	0.58mi	3/1.0	1,151 (-12%)	1mo	$142,500	$124	52
7815 4th Ave S	0.62mi	3/2.0	1,496 (+15%)	3mo	$74,000	$49	40
7836 Division Ave	0.75mi	3/2.0	1,462 (+12%)	3mo	$154,000	$105	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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-11,995
• Equity at exit: $18,489

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-3,917
• Equity at exit: $10,721

Cash invested: $34,720 (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 35206

• Home prices YoY: -32.0%
• Rents YoY: 1.8%
• Active inventory: 128
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,211 high
• Mortgage (P&I): −$650
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $150

Break-even live

Break-even rent $1,021

Max offer price $124,000

Occupancy floor 83%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8211 Rugby Ave Birmingham, AL	4.0	1.0	966	$1,250	$1.29	43d	1	0.03mi
8242 Vassar Ave Birmingham, AL	4.0	1.0	1212	$1,100	$0.91	43d	1	0.10mi
636 83rd Pl S Birmingham, AL	2.0	2.0	1062	$1,175	$1.11	43d	1	0.11mi
730 82nd Pl S Birmingham, AL	3.0	1.0	896	$1,023	$1.14	3d	1	0.17mi
745 82nd Pl S Birmingham, AL	3.0	2.0	1200	$1,168	$0.97	1d	1	0.20mi
8408 5th Ave S Birmingham, AL	3.0	1.0	890	$1,295	$1.46	10d	1	0.21mi
8408 5th Ave S Birmingham, AL	3.0	1.0	1100	$1,528	$1.39	43d	1	0.21mi
8202 4th Ave S Birmingham, AL	3.0	1.0	1178	$1,075	$0.91	43d	1	0.21mi
8122 Rugby Ave Unit B Birmingham, AL	2.0	1.0	900	$795	$0.88	43d	1	0.23mi
731 81st St S Birmingham, AL	3.0	1.0	1221	$995	$0.81	10d	1	0.26mi
735 81st St S Birmingham, AL	3.0	2.0	1224	$1,400	$1.14	23d	1	0.27mi
512 81st St S Birmingham, AL	3.0	1.0	1156	$1,150	$0.99	43d	1	0.28mi
514 81st St S Birmingham, AL	4.0	2.0	1174	$1,295	$1.10	43d	1	0.28mi
8108 4th Ave S Birmingham, AL	3.0	2.0	1384	$1,200	$0.87	43d	1	0.29mi
775 81st Pl S Birmingham, AL	3.0	1.0	1232	$1,095	$0.89	23d	1	0.31mi
8035 4th Ave S Birmingham, AL	3.0	2.0	1096	$1,050	$0.96	43d	1	0.35mi
8513 4th Ave S Birmingham, AL	3.0	1.0	1150	$1,150	$1.00	43d	1	0.35mi
8240 2nd Ave S Birmingham, AL	2.0	1.0	990	$875	$0.88	23d	1	0.35mi
8129 2nd Ave S Unit B Birmingham, AL	2.0	1.0	900	$800	$0.89	43d	1	0.37mi
8013 Rugby Ave Birmingham, AL	3.0	2.0	1460	$1,150	$0.79	23d	1	0.38mi
8128 2nd Ave S Birmingham, AL	4.0	1.0	1390	$1,150	$0.83	23d	1	0.40mi
8229 9th Ave S Birmingham, AL	2.0	1.0	997	$1,195	$1.20	2d	1	0.40mi
7931 7th Ave S Birmingham, AL	3.0	1.0	1320	$1,450	$1.10	43d	1	0.41mi
768 80th Pl S Unit 1 Birmingham, AL	3.0	2.0	1134	$1,200	$1.06	43d	1	0.42mi
8149 1st Ave S Birmingham, AL	3.0	2.0	1300	$1,200	$0.92	43d	1	0.42mi
425 87th St S Birmingham, AL	2.0	1.0	890	$1,077	$1.21	43d	1	0.48mi
8021 1st Ave S Unit A Birmingham, AL	3.0	1.0	980	$950	$0.97	23d	1	0.52mi
8416 Division Ave Birmingham, AL	3.0	2.0	1470	$1,350	$0.92	43d	1	0.54mi
7827 Rugby Ave Birmingham, AL	3.0	1.0	1365	$850	$0.62	3d	1	0.55mi
7823 Rugby Ave Birmingham, AL	3.0	1.0	1023	$1,175	$1.15	43d	1	0.56mi
7829 3rd Ave S Birmingham, AL	3.0	1.5	1005	$1,025	$1.02	43d	1	0.58mi
7824 Rugby Ct Birmingham, AL	4.0	1.5	1650	$1,275	$0.77	43d	1	0.59mi
7815 4th Ave S Birmingham, AL	3.0	2.0	1496	$1,650	$1.10	1d	1	0.59mi
832 79th Pl S Birmingham, AL	3.0	1.0	960	$1,250	$1.30	23d	1	0.59mi
7825 Rugby Ct Birmingham, AL	2.0	1.0	929	$875	$0.94	21d	1	0.60mi
7801 3rd Ave S Unit B Birmingham, AL	2.0	1.5	1100	$1,000	$0.91	43d	1	0.64mi
8621 10th Ave S Birmingham, AL	3.0	2.0	1240	$1,400	$1.13	23d	1	0.66mi
7808 Vienna Ave Birmingham, AL	2.0	1.0	904	$850	$0.94	43d	1	0.68mi
756 Vanderbilt St Birmingham, AL	3.0	2.0	1096	$1,000	$0.91	43d	1	0.73mi
805 Vanderbilt St Birmingham, AL	4.0	2.0	1692	$1,291	$0.76	21d	1	0.73mi

Listing history 26 events

1. 2026-06-18
   days on market $124,000 Active 181 DOM
2. 2026-06-17
   days on market $124,000 Active 180 DOM
3. 2026-06-16
   days on market $124,000 Active 179 DOM
4. 2026-06-15
   days on market $124,000 Active 178 DOM
5. 2026-06-13
   days on market $124,000 Active 176 DOM
6. 2026-06-10
   days on market $124,000 Active 173 DOM
7. 2026-06-09
   days on market $124,000 Active 172 DOM
8. 2026-06-08
   days on market $124,000 Active 171 DOM
9. 2026-06-07
   days on market $124,000 Active 170 DOM
10. 2026-06-03
    days on market $124,000 Active 166 DOM
11. 2026-06-02
    days on market $124,000 Active 165 DOM
12. 2026-06-01
    days on market $124,000 Active 164 DOM
13. 2026-05-31
    days on market $124,000 Active 163 DOM
14. 2026-03-20
    price $124,000 312-char remark

    Show marketing remark (312 chars)

    NEW PRICE! Look at this one! Cute 3/1, well maintained home with ample space. Open floor plan for family gatherings or entertaining. Screened in back porch for privacy. Alley access to additional covered parking area. Seller will pay $2000. toward buyer costs. Currently rented for $1000.00, great for investors!

15. 2026-01-21
    price $125,000 312-char remark

    Show marketing remark (312 chars)

    NEW PRICE! Look at this one! Cute 3/1, well maintained home with ample space. Open floor plan for family gatherings or entertaining. Screened in back porch for privacy. Alley access to additional covered parking area. Seller will pay $2000. toward buyer costs. Currently rented for $1000.00, great for investors!

16. 2025-12-19
    listed $132,000 Active 312-char remark

    Show marketing remark (312 chars)

    NEW PRICE! Look at this one! Cute 3/1, well maintained home with ample space. Open floor plan for family gatherings or entertaining. Screened in back porch for privacy. Alley access to additional covered parking area. Seller will pay $2000. toward buyer costs. Currently rented for $1000.00, great for investors!

17. 2022-05-20
    soldstatus $110,000 Sold 283-char remark

    Show marketing remark (283 chars)

    This renovation is ready, new paint, flooring, hot water and kitchen appliances. This amazing home is an opportunity to own in the up and coming Eastlake neighborhood! Amazing 3/1 layout with open front room and dining room with private backyard and alley access parking in the rear.

18. 2022-05-20
    soldstatus $110,000

    Show marketing remark (283 chars)

    This renovation is ready, new paint, flooring, hot water and kitchen appliances. This amazing home is an opportunity to own in the up and coming Eastlake neighborhood! Amazing 3/1 layout with open front room and dining room with private backyard and alley access parking in the rear.

19. 2022-05-02
    historical Contingent 283-char remark

    Show marketing remark (283 chars)

    This renovation is ready, new paint, flooring, hot water and kitchen appliances. This amazing home is an opportunity to own in the up and coming Eastlake neighborhood! Amazing 3/1 layout with open front room and dining room with private backyard and alley access parking in the rear.

20. 2022-04-08
    price $119,900 283-char remark

    Show marketing remark (283 chars)

    This renovation is ready, new paint, flooring, hot water and kitchen appliances. This amazing home is an opportunity to own in the up and coming Eastlake neighborhood! Amazing 3/1 layout with open front room and dining room with private backyard and alley access parking in the rear.

21. 2022-03-25
    listed $129,900 Active 283-char remark

    Show marketing remark (283 chars)

    This renovation is ready, new paint, flooring, hot water and kitchen appliances. This amazing home is an opportunity to own in the up and coming Eastlake neighborhood! Amazing 3/1 layout with open front room and dining room with private backyard and alley access parking in the rear.

22. 2017-01-23
    soldstatus $111,000
23. 2014-03-11
    soldstatus $23,250
24. 2013-11-19
    listed $27,500
25. 2010-01-13
    soldstatus $11,500
26. 2000-11-29
    soldstatus $55,000

ⓘ 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: $1,260 · $105/mo
• Projected year-2 tax: $1,260 · $105/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 ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,531
• − Mortgage interest: −$6,946
• − Property taxes: −$1,260
• − Insurance: −$620
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$3,607
• Taxable loss: −$228
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $1,850/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): 15,621
• Household income: $42,549
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 1169.0

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 (73%)
• Race & ethnicity: Black 73% White 22% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 0%

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: ▼ -68.70%
• Current HPI: 146.2168
• Rent YoY: ▲ 1.82%
• 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

+125.5% since first listed

13 events — show timeline

• 2026-03-20 Price Changed $124,000 Greater Alabama MLS
• 2026-01-21 Price Changed $125,000 Greater Alabama MLS
• 2025-12-19 Listed $132,000 Greater Alabama MLS
• 2022-05-20 Sold (Public Records) $110,000 Public Records
• 2022-05-20 Sold (MLS) $110,000 Greater Alabama MLS
• 2022-05-02 Contingent — Greater Alabama MLS
• 2022-04-08 Price Changed $119,900 Greater Alabama MLS
• 2022-03-25 Listed $129,900 Greater Alabama MLS
• 2017-01-23 Sold (Public Records) $111,000 Public Records
• 2014-03-11 Sold (MLS) $23,250 Greater Alabama MLS
• 2013-11-19 Listed $27,500 Greater Alabama MLS
• 2010-01-13 Sold (Public Records) $11,500 Public Records
• 2000-11-29 Sold (Public Records) $55,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,260 · +2.5% YoY. Source: county tax records.