2006 S Center Way · Birmingham, AL 35205

$80,000

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 131 Days on market

Built 1950 Est $91k · 12% under ↓ 30% 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 +12.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

This is one of those homes that feels like home. It's a level lot front and back and ready for a new homeowner. Call today for an apointment to view this home. It's going to go fast!!!

Key facts

• Built 1950
• Listed 131 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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: Glen Iris Elementary School (math 4% / reading 19%, grade F, #556 of 627 statewide, top 89%, 731 students, 78% FRL); Parker High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 826 students, 90% FRL) — zoned schools at 84% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 125 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 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 + 2.6% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $56k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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 1950 — 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: 1.40% ✓
• Cap rate: 12.23%
• Cash-on-cash: 21.19%
• DSCR: 1.94
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $90,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2031 S Center St	0.15mi	2/1.0	814 (+0%)	20mo	$98,000	$120	76
40 20th Ave S	0.13mi	3/1.0 (+1)	853 (+5%)	8mo	$92,500	$108	74
52 17th Ct S	0.29mi	2/1.0	864 (+6%)	4mo	$75,000	$87	72
407 Green Springs Ave S	0.57mi	2/1.0	866 (+7%)	2mo	$200,000	$231	61
1609 Center St S	0.38mi	2/1.0	852 (+5%)	17mo	$38,900	$46	60
28 24th Ave S	0.58mi	2/1.0	803 (-1%)	18mo	$90,000	$112	56
1717 Center Way S	0.28mi	2/1.5	912 (+12%)	10mo	$125,000	$137	56
2345 Center Way S	0.51mi	3/1.0 (+1)	777 (-4%)	14mo	$51,500	$66	53
1512 Mccary St SW	0.48mi	3/1.0 (+1)	884 (+9%)	15mo	$125,000	$141	46
1401 Mccary St	0.39mi	3/1.0 (+1)	888 (+9%)	19mo	$120,900	$136	45
118 3rd Ave SW	0.70mi	3/1.0 (+1)	710 (-13%)	1mo	$71,000	$100	40
1721 SW 3rd Pl	0.72mi	3/1.0 (+1)	880 (+8%)	12mo	$80,000	$91	37

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 · 2.59% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.52×
• Total profit: $11,751
• Equity at exit: $11,928

10-year hold

• IRR: 21.8%
• Equity multiple: 2.82×
• Total profit: $40,714
• Equity at exit: $6,917

Cash invested: $22,400 (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 35205

• Rents YoY: 2.6%
• Active inventory: 125
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,118 high
• Mortgage (P&I): −$420
• Tax from tax record: −$35 /mo · $421/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $396

Break-even live

Break-even rent $618

Max offer price $80,000

Occupancy floor 60%

Sensitivity live

Price	-10% $441	-5% $418	+0% $396	+5% $373	+10% $350
Rent	-10% $307	-5% $351	+0% $396	+5% $440	+10% $484
Rate	-1.0pp $436	-0.5pp $416	base $396	+0.5pp $375	+1.0pp $354

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
741 Center Pl SW Birmingham, AL	3.0	1.0	1101	$1,250	$1.14	16d	1	0.27mi
2049 Green Springs Hwy Unit 2 Birmingham, AL	1.0	1.0	605	$750	$1.24	44d	1	0.41mi
2217-2249 Green Springs Hwy Unit 2249-E Birmingham, AL	2.0	1.0	900	$910	$1.01	44d	1	0.54mi
2217-2249 Green Springs Hwy Unit 2241-M Birmingham, AL	3.0	2.0	1100	$1,109	$1.01	21d	1	0.54mi
407 Green Springs Ave S Birmingham, AL	2.0	1.0	866	$2,000	$2.31	2d	1	0.57mi
2418 Green Springs Hwy Birmingham, AL	1.0	1.0	750	$895	$1.19	44d	5	0.69mi
261 3rd Ave SW Birmingham, AL	1.0–2.0	1.0	634	$850	$1.34	3d	14	0.72mi
633 Idlewild Cir Unit A1 Birmingham, AL	1.0	1.0	750	$1,052	$1.40	44d	1	0.75mi
633 Idlewild Cir Unit A7 Birmingham, AL	1.0	1.0	750	$1,044	$1.39	16d	1	0.75mi
1010 Beacon Pkwy E Birmingham, AL	1.0–2.0	1.0–2.0	945	$2,275	$2.41	2d	18	0.78mi
700 Aspen Dr Birmingham, AL	1.0	1.0	786	$1,045	$1.33	44d	1	0.81mi
609 Idlewild Cir Apt B Birmingham, AL	2.0	1.0	705	$875	$1.24	3d	1	0.81mi
401 Skyview Dr Birmingham, AL	2.0	1.0	864	$950	$1.10	44d	1	0.82mi
1000 Beacon Pkwy E Unit 1035D Birmingham, AL	1.0	1.0	750	$975	$1.30	44d	1	0.89mi
310 Gamma St S Birmingham, AL	3.0	1.5	1001	$1,200	$1.20	16d	1	0.90mi
313 Beta St S Unit 317A Birmingham, AL	2.0	1.0	850	$799	$0.94	2d	1	0.90mi
731 16th Ave S Birmingham, AL	1.0	1.0	590	$954	$1.62	2d	4	0.91mi
691 Idlewild Cir Birmingham, AL	2.0	2.0	777	$1,382	$1.78	3d	3	0.91mi
925 Beacon Pkwy E Birmingham, AL	1.0–3.0	1.0–2.0	1259	$974	$0.77	44d	1	0.92mi
506 Alpha St S Birmingham, AL	3.0	1.0	944	$1,373	$1.45	44d	1	0.93mi
112 Kappa Ave S Birmingham, AL	3.0	2.0	1034	$1,100	$1.06	44d	1	0.94mi
1229 Beacon Pkwy E Birmingham, AL	1.0–3.0	1.0–2.0	1130	$1,088	$0.96	3d	16	0.95mi
840 Beacon Pkwy E Unit C Birmingham, AL	2.0	1.0	925	$1,200	$1.30	44d	1	0.99mi
834 Golden Gate Ln Birmingham, AL	1.0–3.0	1.0–2.0	1050	$1,175	$1.12	44d	12	1.00mi
834 Golden Gate Ln Birmingham, AL	1.0–3.0	1.0–2.0	1050	$1,150	$1.10	2d	13	1.00mi
513 Valley Ave Birmingham, AL	3.0	1.0–2.0	1012	$1,233	$1.22	44d	1	1.05mi
1412 10th Pl S Unit 1414-N Birmingham, AL	1.0	1.0	580	$825	$1.42	24d	1	1.05mi
741 Barcelona Ct Birmingham, AL	1.0	1.0	699	$950	$1.36	3d	5	1.11mi
218 Olympia Dr Homewood, AL	1.0–3.0	1.0–2.5	958	$1,190	$1.24	2d	33	1.12mi
316 Beacon Crest Ln Birmingham, AL	1.0–2.0	1.0	850	$1,099	$1.29	2d	7	1.12mi
1101 10th Pl S Birmingham, AL	1.0–2.0	1.0–2.0	986	$1,825	$1.85	3d	11	1.15mi
1721 11th Pl S Unit 1721F Birmingham, AL	1.0	1.0	683	$926	$1.36	3d	1	1.17mi
915 Valley Ridge Dr Birmingham, AL	1.0–3.0	1.0–2.5	1087	$1,230	$1.13	2d	34	1.17mi
1639 11th Pl S Apt D Birmingham, AL	2.0	1.0	845	$895	$1.06	12d	1	1.18mi
1639 11th Pl S Unit K Birmingham, AL	2.0	1.0	845	$875	$1.04	12d	1	1.18mi
1508 Dennison Ave SW Birmingham, AL	2.0	1.0	924	$890	$0.96	44d	1	1.19mi
1131 16th Ave S Unit A Birmingham, AL	2.0	1.0	900	$1,215	$1.35	3d	1	1.21mi
1700 Cullom St S Unit 1704-B Birmingham, AL	1.0	1.0	650	$860	$1.32	24d	1	1.21mi
2700 Temple Crest Dr Birmingham, AL	1.0–2.0	1.0–1.5	776	$1,320	$1.70	44d	1	1.22mi
1413 11th Pl S Birmingham, AL	2.0	1.0	829	$1,282	$1.55	44d	4	1.23mi

Listing history 3 events

1. 2022-12-07
   soldstatus $56,000
2. 2022-11-02
   status Pending
3. 2022-06-24
   listed $80,000 Active

ⓘ 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: $421 · $35/mo
• Projected year-2 tax: $421 · $35/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 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,422
• − Mortgage interest: −$4,481
• − Property taxes: −$421
• − Insurance: −$400
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$2,327
• Taxable income: $3,644
• Est. tax owed @ 24.0%: −$875
• After-tax cash flow: $3,873/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): 18,858
• Household income: $51,158
• Rent vs Own: 67.2% rent · 32.8% own
• Severe rent burden: 1468.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 60% Black 26% Hispanic / Latino 5% Asian 5% Two or more races 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 2% Chinese 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: ▼ -199.42%
• Current HPI: 291.38
• Rent YoY: ▲ 2.59%
• 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

-30.0% since first listed

3 events — show timeline

• 2022-12-07 Sold (Public Records) $56,000 Public Records
• 2022-11-02 Pending — Greater Alabama MLS
• 2022-06-24 Listed $80,000 Greater Alabama MLS

Property tax history

+3.5%/yr

Latest (2025): $421 · +0.0% YoY. Source: county tax records.