605 Lee Rd · Birmingham, AL 35215

$129,900

3 bd · 2.0 ba · 1,293 sqft · SingleFamily public records · 82 Days on market

Built 1954 0.30 ac lot $100/sqft · 28% above area Est $139k · 7% under ↓ 4% since listing

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Why this score? — see what drove the C 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 +22.6/30.0
• ARV discount +10.6/15.0
• DSCR +7.2/10.0
• 1% rule +4.7/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming single-story, 3 bed, 2 bath home featuring a spacious front and backyard with mature trees and a covered entry. Inside, hardwood floors flow through the main living areas, complemented by abundant natural light from multiple windows. The living room offers a warm, inviting feel, while the adjacent dining area connects easily to the kitchen. The kitchen showcases wood cabinetry, solid surface countertops, tile backsplash, and black appliances. Additional highlights include generously sized bedrooms, ample closet space, and a bathroom with tiled shower surround and updated vanity. A cozy den with wood-paneled walls and exposed beams provides flexible living space ideal for a variety of needs.

Key facts

• Covered entry
• Wood cabinetry
• Hardwood floors

Tags

• SPACIOUS FRONT AND BACKYARD
• MATURE TREES
• COVERED ENTRY
• HARDWOOD FLOORS
• ABUNDANT NATURAL LIGHT
• WOOD CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/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 $126k (3.2% below list).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+3.0%/yr); 334 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $898 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 82 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% 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: 0.97% ✗
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• GRM: 8.6

CMA / ARV

• ARV (median comp): $139,490
• List price: $129,900
• Delta: -6.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 Boxwood Cir	0.27mi	3/1.0	1,252 (-3%)	4mo	$70,000	$56	75
321 Joan Ave	0.57mi	3/1.0	1,294 (+0%)	2mo	$121,000	$94	68
216 Westwood Dr	0.39mi	3/1.0	1,384 (+7%)	0mo	$78,500	$57	66
240 Mccormick Ave	0.49mi	3/1.0	1,262 (-2%)	6mo	$141,000	$112	64
328 Pat Ave	0.57mi	3/1.0	1,244 (-4%)	1mo	$93,500	$75	62
321 Glynn Dr	0.53mi	3/1.5	1,401 (+8%)	1mo	$140,000	$100	58
9809 Maple Ln	0.56mi	3/1.0	1,192 (-8%)	3mo	$130,000	$109	54
252 Westwood Dr	0.48mi	3/1.5	1,124 (-13%)	6mo	$93,000	$83	49
932 Charles Ct	0.53mi	4/2.0 (+1)	1,430 (+11%)	5mo	$140,000	$98	49
808 Meadowbrook Dr	0.60mi	3/1.0	1,112 (-14%)	1mo	$149,900	$135	44
9828 Red Mill Rd	0.51mi	3/1.0	1,106 (-14%)	7mo	$99,900	$90	42
405 Sunbrook Ave	0.74mi	3/1.5	1,120 (-13%)	2mo	$148,000	$132	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 · 3.04% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-6,973
• Equity at exit: $19,369

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $12,034
• Equity at exit: $11,231

Cash invested: $36,372 (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 35215

• Home prices YoY: -34.4%
• Rents YoY: 3.0%
• Active inventory: 334
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,257 high
• Mortgage (P&I): −$681
• Tax from tax record: −$36 /mo · $438/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $221

Break-even live

Break-even rent $977

Max offer price $129,900

Occupancy floor 77%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Rose Dr Birmingham, AL	3.0	1.0	972	$1,100	$1.13	16d	1	0.17mi
9844 Greenlee Rd Birmingham, AL	3.0	1.0	1046	$950	$0.91	44d	1	0.29mi
216 Sanford Dr Birmingham, AL	3.0	1.5	1134	$1,200	$1.06	44d	1	0.32mi
221 Lawson Rd Birmingham, AL	3.0	1.5	1102	$1,325	$1.20	24d	1	0.38mi
529 Robison Dr Birmingham, AL	2.0	1.0	960	$960	$1.00	21d	1	0.39mi
204 McCormick Ave Birmingham, AL	3.0	1.0	880	$980	$1.11	3d	1	0.43mi
417 Price Dr Birmingham, AL	4.0	2.0	1584	$1,395	$0.88	24d	1	0.46mi
921 Charles Ct Birmingham, AL	4.0	2.0	1529	$1,450	$0.95	44d	1	0.47mi
252 Westwood Dr Birmingham, AL	3.0	1.5	1124	$1,400	$1.25	2d	1	0.48mi
209 Tucker Ave Birmingham, AL	3.0	1.0	1044	$1,100	$1.05	44d	1	0.53mi
252 Meadowdale Ave Birmingham, AL	3.0	1.0	920	$995	$1.08	44d	1	0.57mi
316 Pine St Birmingham, AL	3.0	1.0	1232	$1,100	$0.89	44d	1	0.57mi
945 Elizabeth Dr Birmingham, AL	3.0	1.0	1227	$1,125	$0.92	3d	1	0.59mi
932 Five Mile Rd Birmingham, AL	3.0	1.5	1200	$1,175	$0.98	19d	1	0.60mi
426 Buckingham Cir Birmingham, AL	2.0	1.5	1080	$1,013	$0.94	44d	1	0.61mi
957 Hickory Cir Birmingham, AL	3.0	2.0	1364	$1,195	$0.88	3d	1	0.62mi
832 Meadowbrook Dr Birmingham, AL	3.0	2.0	1228	$1,225	$1.00	24d	1	0.63mi
818 Sunset Dr Birmingham, AL	3.0	1.0	992	$1,000	$1.01	44d	1	0.65mi
603 Camp Ct Birmingham, AL	3.0	1.0	936	$1,300	$1.39	44d	1	0.66mi
912 Meadowbrook Dr Birmingham, AL	3.0	1.0	1178	$1,100	$0.93	44d	1	0.67mi
929 Meadowbrook Dr Birmingham, AL	3.0	2.0	1649	$1,200	$0.73	12d	1	0.74mi
940 Meadowbrook Dr Birmingham, AL	4.0	1.0	1149	$1,300	$1.13	44d	1	0.74mi
208 Sam Pate Dr Birmingham, AL	3.0	2.0	988	$1,385	$1.40	2d	1	0.75mi
726 Orchard Rd Birmingham, AL	3.0	1.0	1120	$1,095	$0.98	44d	1	0.82mi
9228 Brookhurst Dr Birmingham, AL	3.0	1.0	1146	$999	$0.87	44d	1	0.87mi
848 Old Trail Rd Birmingham, AL	2.0	1.5	930	$925	$0.99	24d	1	0.92mi
241 Mamie Ln Birmingham, AL	3.0	2.0	1242	$1,495	$1.20	3d	1	0.99mi
736 Gene Reed Rd Birmingham, AL	3.0	2.0	1353	$1,220	$0.90	44d	1	1.05mi
8917 Roebuck Blvd Apt 11 Birmingham, AL	2.0	1.0	880	$725	$0.82	16d	1	1.05mi
520 Camellia Rd Birmingham, AL	3.0	1.0	1053	$1,100	$1.04	3d	1	1.11mi
1112 Violet Dr Birmingham, AL	3.0	2.0	1414	$1,600	$1.13	12d	1	1.15mi
217 Killough Dr Birmingham, AL	3.0	2.0	1212	$1,200	$0.99	14d	1	1.19mi
600 Sundale Dr Birmingham, AL	2.0	1.0	950	$800	$0.84	44d	1	1.20mi
1177 Five Mile Rd Birmingham, AL	3.0	2.0	1636	$1,100	$0.67	44d	1	1.24mi
46 Sunscape Dr Birmingham, AL	4.0	2.0	1178	$1,450	$1.23	44d	1	1.28mi
1128 Lay Dr Birmingham, AL	3.0	1.5	1700	$1,410	$0.83	12d	1	1.29mi
40 Sunscape Dr Birmingham, AL	3.0	2.0	1283	$1,555	$1.21	2d	1	1.30mi
433 Orchid Rd Birmingham, AL	3.0	1.0	1162	$1,255	$1.08	16d	1	1.34mi

Listing history 2 events

1. 2026-05-15
   price $129,900 708-char remark

   Show marketing remark (708 chars)

   Charming single-story, 3 bed, 2 bath home featuring a spacious front and backyard with mature trees and a covered entry. Inside, hardwood floors flow through the main living areas, complemented by abundant natural light from multiple windows. The living room offers a warm, inviting feel, while the adjacent dining area connects easily to the kitchen. The kitchen showcases wood cabinetry, solid surface countertops, tile backsplash, and black appliances. Additional highlights include generously sized bedrooms, ample closet space, and a bathroom with tiled shower surround and updated vanity. A cozy den with wood-paneled walls and exposed beams provides flexible living space ideal for a variety of needs.

2. 2026-02-28
   listed $134,900 Active 708-char remark

   Show marketing remark (708 chars)

   Charming single-story, 3 bed, 2 bath home featuring a spacious front and backyard with mature trees and a covered entry. Inside, hardwood floors flow through the main living areas, complemented by abundant natural light from multiple windows. The living room offers a warm, inviting feel, while the adjacent dining area connects easily to the kitchen. The kitchen showcases wood cabinetry, solid surface countertops, tile backsplash, and black appliances. Additional highlights include generously sized bedrooms, ample closet space, and a bathroom with tiled shower surround and updated vanity. A cozy den with wood-paneled walls and exposed beams provides flexible living space ideal for a variety of needs.

ⓘ 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: $438 · $36/mo
• Projected year-2 tax: $533 · $44/mo
• Expected delta: +$95/yr (+$8/mo · 21.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $15,083
• − Mortgage interest: −$7,276
• − Property taxes: −$438
• − Insurance: −$650
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$3,779
• Taxable income: $527
• Est. tax owed @ 24.0%: −$126
• After-tax cash flow: $2,527/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): 43,903
• Household income: $52,793
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1729.0

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 (75%)
• Race & ethnicity: Black 75% White 15% Hispanic / Latino 7% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -112.97%
• Current HPI: 215.0607
• Rent YoY: ▲ 3.04%
• 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

-3.7% since first listed

2 events — show timeline

• 2026-05-15 Price Changed $129,900 Greater Alabama MLS
• 2026-02-28 Listed $134,900 Greater Alabama MLS

Property tax history

+3.5%/yr

Latest (2016): $438 · -0.2% YoY. Source: county tax records.