2356 24th St · Birmingham, AL 35208

$49,000

2 bd · 1.0 ba · 992 sqft · SingleFamily · 239 Days on market

Built 1930 Fair condition 4,356 sqft lot $49/sqft · 21% below area Est $62k · 21% under ↓ 45% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.2/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor this 2-bedroom, 1 bath home is perfect for your portfolio. Only 8 minutes from Downtown Birmingham. Set up your private showing today.

Key facts

• 4,356 sq ft lot
• Built 1930
• Listed 239 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.9% 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-, 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 fast (+7.2%/yr); 122 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); 62% 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 32% of the median local income ($39k/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 $339 of loan paydown is wiped out by about $1k 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 + 7.2% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.10% ✓
• Cap rate: 17.95%
• Cash-on-cash: 41.63%
• DSCR: 2.85
• GRM: 4.0

CMA / ARV

• ARV (median comp): $61,997
• List price: $49,000
• Delta: -20.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2436 Powderly Ave SW	0.29mi	2/1.0	966 (-3%)	2mo	$32,500	$34	80
2412 Lawn Ave SW	0.12mi	3/1.0 (+1)	975 (-2%)	9mo	$60,000	$62	79
2413 Francis Ave SW	0.16mi	2/1.0	962 (-3%)	14mo	$11,500	$12	76
1657 19th Pl	0.41mi	3/1.0 (+1)	1,074 (+8%)	3mo	$40,000	$37	59
1521 24th St SW	0.26mi	3/1.0 (+1)	912 (-8%)	14mo	$55,000	$60	58
117 E SW Ann Dr	0.56mi	3/1.0 (+1)	936 (-6%)	6mo	$65,000	$69	54
1416 18th Way SW	0.72mi	3/1.0 (+1)	1,000 (+1%)	11mo	$80,000	$80	51
1657 SW 18th Way	0.50mi	3/1.0 (+1)	912 (-8%)	9mo	$90,000	$99	51
1641 18th St SW	0.61mi	3/1.0 (+1)	1,035 (+4%)	13mo	$125,000	$121	49
2820 Wesley Ave SW	0.63mi	3/1.0 (+1)	1,048 (+6%)	11mo	$62,000	$59	47
2012 Rambow Ave SW	0.67mi	2/1.0	864 (-13%)	9mo	$20,000	$23	40
1324 19th St SW	0.74mi	2/2.0	864 (-13%)	6mo	$83,500	$97	35

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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 43.0%
• Equity multiple: 2.97×
• Total profit: $26,979
• Equity at exit: $7,306

10-year hold

• IRR: 51.0%
• Equity multiple: 7.06×
• Total profit: $83,137
• Equity at exit: $4,237

Cash invested: $13,720 (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 35208

• Home prices YoY: -18.1%
• Rents YoY: 7.2%
• Active inventory: 122
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,031 high
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $476

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 49%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2709 Powderly Ave SW Birmingham, AL	3.0	2.0	1056	$950	$0.90	24d	1	0.35mi
3000 Dawson Ave SW Birmingham, AL	3.0	1.0	1092	$925	$0.85	44d	1	0.48mi
1845 Henry Crumpton Dr Birmingham, AL	3.0	1.0	1000	$895	$0.90	3d	1	0.49mi
2300 31st St SW Unit ENSLEY2316 A Birmingham, AL	2.0	1.0	750	$1,000	$1.33	3d	1	0.60mi
224 E Ann Dr SW Birmingham, AL	3.0	1.0	1026	$1,050	$1.02	24d	1	0.62mi
2432 Ishkooda Rd SW Birmingham, AL	3.0	1.0	1075	$1,150	$1.07	44d	1	0.65mi
2113 Rambow Ave SW Birmingham, AL	2.0	1.0	838	$1,250	$1.49	44d	1	0.66mi
1544 18th St SW Birmingham, AL	3.0	1.0	950	$1,130	$1.19	44d	1	0.66mi
249 Gloria Rd SW Birmingham, AL	2.0	1.0	624	$800	$1.28	44d	1	0.66mi
1537 18th St SW Birmingham, AL	3.0	1.0	1049	$1,130	$1.08	44d	1	0.69mi
1228 19th Pl SW Birmingham, AL	3.0	2.0	978	$1,195	$1.22	3d	1	0.77mi
1520 17th Way SW Birmingham, AL	3.0	1.0	900	$900	$1.00	12d	1	0.81mi
1520 17th Way SW Birmingham, AL	3.0	1.0	900	$900	$1.00	21d	1	0.81mi
1209 19th Pl SW Birmingham, AL	3.0	1.0	1050	$1,275	$1.21	44d	1	0.83mi
1252 18th Pl SW Birmingham, AL	3.0	1.0	950	$1,000	$1.05	16d	1	0.90mi
1012 33rd St SW Birmingham, AL	1.0–2.0	1.0–2.0	800	$750	$0.94	3d	1	0.91mi
2805 32nd Way SW Birmingham, AL	3.0	1.0	792	$900	$1.14	44d	1	0.93mi
2804 32nd Way SW Birmingham, AL	3.0	1.0	840	$900	$1.07	44d	1	0.95mi
612 26th St SW Birmingham, AL	2.0	1.0	988	$825	$0.84	44d	1	1.05mi
914 21st St SW Birmingham, AL	3.0	1.0	784	$1,200	$1.53	21d	1	1.06mi
5832 Court Q Birmingham, AL	3.0	1.0	912	$950	$1.04	44d	1	1.10mi
5820 Court Q Birmingham, AL	3.0	1.0	902	$1,200	$1.33	44d	1	1.11mi
407 S Park Rd SW Birmingham, AL	3.0	1.0	1050	$900	$0.86	44d	1	1.11mi
1417 Brighton Rd Birmingham, AL	3.0	2.0	1048	$1,200	$1.15	44d	1	1.21mi
2519 Saint Charles Ave SW Birmingham, AL	2.0	1.0	990	$975	$0.98	44d	1	1.23mi
5320 Ter Q Unit Q Birmingham, AL	3.0	2.0	1116	$1,250	$1.12	44d	1	1.26mi
2216 Lee Ave SW Birmingham, AL	3.0	1.0	902	$900	$1.00	24d	1	1.31mi
5211 Ter Q Unit Q Birmingham, AL	2.0	1.0	756	$775	$1.03	44d	1	1.32mi
1340 Pineview Rd Birmingham, AL	3.0	2.0	1116	$1,075	$0.96	44d	1	1.34mi
5725 Avenue O Unit O Birmingham, AL	3.0	1.0	957	$1,073	$1.12	24d	1	1.34mi
5219 Court Q Birmingham, AL	3.0	2.0	1082	$1,200	$1.11	19d	1	1.34mi
1781 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1069	$950	$0.89	44d	1	1.34mi
5717 Avenue O Unit O Birmingham, AL	3.0	2.0	1029	$1,250	$1.21	44d	1	1.35mi
5516 Avenue P Birmingham, AL	2.0	1.0	888	$1,000	$1.13	44d	1	1.37mi
1272 Meadow Ln Birmingham, AL	2.0	1.0	744	$800	$1.08	44d	1	1.38mi
4929 Avenue R Unit R Birmingham, AL	2.0	1.0	962	$950	$0.99	44d	1	1.39mi
208 22nd St SW Birmingham, AL	2.0	1.0	926	$1,050	$1.13	3d	1	1.43mi
3729 Maple Ave SW Birmingham, AL	3.0	2.0	1008	$1,200	$1.19	44d	1	1.43mi
2028 Lee Ter SW Birmingham, AL	2.0	1.0	884	$695	$0.79	44d	1	1.46mi
3736 Oak Ave SW Birmingham, AL	3.0	2.0	984	$1,050	$1.07	24d	1	1.46mi

Listing history 19 events

1. 2026-06-18
   days on market $49,000 Active 239 DOM
2. 2026-06-17
   days on market $49,000 Active 238 DOM
3. 2026-06-16
   days on market $49,000 Active 237 DOM
4. 2026-06-15
   days on market $49,000 Active 236 DOM
5. 2026-06-13
   days on market $49,000 Active 234 DOM
6. 2026-06-10
   days on market $49,000 Active 231 DOM
7. 2026-06-09
   days on market $49,000 Active 230 DOM
8. 2026-06-08
   days on market $49,000 Active 229 DOM
9. 2026-06-07
   days on market $49,000 Active 228 DOM
10. 2026-06-03
    days on market $49,000 Active 224 DOM
11. 2026-06-02
    days on market $49,000 Active 223 DOM
12. 2026-06-01
    days on market $49,000 Active 222 DOM
13. 2026-05-31
    days on market $49,000 Active 221 DOM
14. 2026-04-30
    price $49,000 143-char remark

    Show marketing remark (143 chars)

    Investor this 2-bedroom, 1 bath home is perfect for your portfolio. Only 8 minutes from Downtown Birmingham. Set up your private showing today.

15. 2026-01-16
    price $64,000 143-char remark

    Show marketing remark (143 chars)

    Investor this 2-bedroom, 1 bath home is perfect for your portfolio. Only 8 minutes from Downtown Birmingham. Set up your private showing today.

16. 2025-10-22
    listed $69,000 Active 143-char remark

    Show marketing remark (143 chars)

    Investor this 2-bedroom, 1 bath home is perfect for your portfolio. Only 8 minutes from Downtown Birmingham. Set up your private showing today.

17. 2024-08-30
    soldstatus $84,000 Closed 710-char remark

    Show marketing remark (710 chars)

    Two rental house portfolio sold for one price. 2356 24th St W is 2BR/1BA 992 sf built 1930. Good tenant at $675 per month. Taxes $948, insurance $811. With imputed 10% mgt fee, 5% V & C reserve and $500 repair reserves NOI is $4,666. 820 4th Ct W is 2BR/1BA, 806 sf built 1940. Good tenant at $775 per month. Taxes $756, insurance $698. With imputed 10% mgt fee, 5% V & C reserve and $500 repair reserves NOI is $5,998. Addl property details available on request. Price is an 11.98% cap rate. Assuming 20% down and 9.5% interest rate on financing amortized over 20 years, monthly payments of $663.68 result in Debt Service Coverage Ratio of 1.34%, which will meet virtually all lenders' requirements.

18. 2024-08-14
    status Pending 710-char remark

    Show marketing remark (710 chars)

    Two rental house portfolio sold for one price. 2356 24th St W is 2BR/1BA 992 sf built 1930. Good tenant at $675 per month. Taxes $948, insurance $811. With imputed 10% mgt fee, 5% V & C reserve and $500 repair reserves NOI is $4,666. 820 4th Ct W is 2BR/1BA, 806 sf built 1940. Good tenant at $775 per month. Taxes $756, insurance $698. With imputed 10% mgt fee, 5% V & C reserve and $500 repair reserves NOI is $5,998. Addl property details available on request. Price is an 11.98% cap rate. Assuming 20% down and 9.5% interest rate on financing amortized over 20 years, monthly payments of $663.68 result in Debt Service Coverage Ratio of 1.34%, which will meet virtually all lenders' requirements.

19. 2024-07-03
    listed $89,000 Active 710-char remark

    Show marketing remark (710 chars)

    Two rental house portfolio sold for one price. 2356 24th St W is 2BR/1BA 992 sf built 1930. Good tenant at $675 per month. Taxes $948, insurance $811. With imputed 10% mgt fee, 5% V & C reserve and $500 repair reserves NOI is $4,666. 820 4th Ct W is 2BR/1BA, 806 sf built 1940. Good tenant at $775 per month. Taxes $756, insurance $698. With imputed 10% mgt fee, 5% V & C reserve and $500 repair reserves NOI is $5,998. Addl property details available on request. Price is an 11.98% cap rate. Assuming 20% down and 9.5% interest rate on financing amortized over 20 years, monthly payments of $663.68 result in Debt Service Coverage Ratio of 1.34%, which will meet virtually all lenders' requirements.

ⓘ 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: $12,374
• − Mortgage interest: −$2,745
• − Property taxes: −$735
• − Insurance: −$245
• − Repairs & maintenance: −$990
• − Management: −$990
• − Depreciation: −$1,425
• Taxable income: $5,244
• Est. tax owed @ 24.0%: −$1,259
• After-tax cash flow: $4,453/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 · 12 photos

Fair 45/100 Moderate rehab

This 2-bedroom, 1-bath home requires moderate renovations to improve its condition and increase its value. Focus on updating the kitchen and bathroom for both resale and rental appeal.

Repairs flagged

• Major kitchen cabinets — severely outdated and worn
• Major kitchen countertops — worn and in need of replacement
• Major bathroom fixtures — outdated and in need of replacement
• Minor paint — peeling in some areas

Value-add opportunities

• Both kitchen renovation — modernizing kitchen can increase both resale and rental value
• Both bathroom renovation — updating bathroom can increase both resale and rental value
• Rental landscaping — improved curb appeal can attract tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely outdated and worn	Major	$15,000–50,000
kitchen countertops · worn and in need of replacement	Major	$15,000–50,000
bathroom fixtures · outdated and in need of replacement	Major	$15,000–50,000
paint · peeling in some areas	Minor	$500–3,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Both kitchen renovation — modernizing kitchen can increase both resale and rental value ↑
• Both bathroom renovation — updating bathroom can increase both resale and rental value ↑
• Rental landscaping — improved curb appeal can attract tenants ↑

ⓘ 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): 13,412
• Household income: $38,561
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 573.0

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 (94%)
• Race & ethnicity: Black 94% White 4% Hispanic / Latino 2% Two or more races 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% 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: ▼ -33.99%
• Current HPI: 153.414
• Rent YoY: ▲ 7.24%
• 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

-44.9% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $49,000 Greater Alabama MLS
• 2026-01-16 Price Changed $64,000 Greater Alabama MLS
• 2025-10-22 Listed $69,000 Greater Alabama MLS
• 2024-08-30 Sold (MLS) $84,000 WAMLS
• 2024-08-14 Pending — WAMLS
• 2024-07-03 Listed $89,000 WAMLS