213 Morning Sun Dr #213 · Meadowbrook, AL 35242

$172,500

2 bd · 2.0 ba · 1,136 sqft · Condo · 7 Days on market

Built 1985 Good condition

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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 +12.8/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• DSCR +3.8/10.0
• Condition / age +3.8/5.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this Spacious Top Floor condo in the Oak Mountain School District ~ This condo has been very Well Maintained w/ New Tasteful neutral colors (2019) ~ New Carpet (2019) ~ Family room w/ built in Shelving & Beautiful Laminate Hardwoods & Open to the kitchen ~ Off the Family Room has an inviting screened-in porch to enjoy your morning coffee w/ a View ~ The separate DR Boasts New Lighting ~ Both BR's have Walk-in Closets ~ The Community Swimming Pool & exercise room at the clubhouse have recently been renovated ~ Convenient to Everything ~ 280 ~ HWY 119 ~ Brook Highland Shopping ~ Grandview Hospital ~ Restaurants ~ The Condo Assessment Fee with be paid for by the seller at closing (to cover New Roof/gutters throughout entire complex) ~ The HOA covers Grounds ~ Building Insurance, Termite, pool, trash ~ If you are looking to downsize, this is the perfect place to call HOME in the Meadowbrook Subdivision ~

Key facts

• Community pool
• Built 1985
• Listed 7 days

Property features AI

Finance

• Financial info: Yearly fire fee ($300); Yearly library fee ($15)
• HOA & community: Monthly condo fee of $395; HOA covers building insurance, garbage collection, common grounds maintenance, management, pest control, reserves for improvements, sewage service, utilities for common areas, and water

Exterior

• Parking: Off-street parking; Unassigned parking
• Utilities: Public water; Connected sewer; Electric water heater; Underground utilities; Internet service available
• Home design: Condominium (unit 213); Condo unit on level 2; Existing construction; Entry and living on main level
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Community in-ground pool with perimeter fencing; Screened deck; Mountain view; No waterfront; No garden/patio; No patio listed

Interior

• Kitchen: Laminate countertops; Built-in dishwasher; Garbage disposal; Built-in microwave; Electric oven; Stove (electric); Refrigerator; Some stainless appliances
• Bedrooms: Bedrooms on main level; Walk-in closets
• Flooring: Hardwood laminate; Tile flooring
• Bathrooms: Two full bathrooms; Tub/shower combo
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral/vaulted ceilings; Open den/family area; No additional interior features listed
• Laundry & utility: Laundry on main level; Washer hookup; Electric dryer hookup; Laundry located in closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $172k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-17 ($-204/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (13.8% below list).
• Recommended offer: $149k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.0% in Meadowbrook — 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 63/100 on livability (#172 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Shelby County (suburban): math 30% / reading 58% proficiency, ranked #16 of 129 in AL (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Inverness Elementary School (math 47% / reading 72%, grade B-, #63 of 627 statewide, top 10%, 582 students, 29% FRL); Oak Mountain High School (math 52% / reading 52%, grade D+, #11 of 305 statewide, top 4%, 1,561 students, 22% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents flat; 399 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 987 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($117k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y ago; this cycle's ask is 25% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $140k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,747 (13.8% 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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.33×
• Total profit: $-32,221
• Equity at exit: $25,720

10-year hold

• IRR: -17.6%
• Equity multiple: 0.13×
• Total profit: $-41,958
• Equity at exit: $14,915

Cash invested: $48,300 (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 35242

• Home prices YoY: -32.7%
• Rents YoY: 0.8%
• Active inventory: 399
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,487 high
• Mortgage (P&I): −$905
• Tax est. 1.5%: −$216 /mo · $2,588/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $-17

Break-even live

Break-even rent $1,509

Max offer price $170,039

Occupancy floor 96%

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: $43,125
• Closing costs: $5,175
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
817 Morning Sun Dr Birmingham, AL	2.0	1.0	882	$1,300	$1.47	23d	1	0.06mi
3 Greenhill Pkwy Birmingham, AL	2.0	1.0–2.0	650	$1,299	$2.00	3d	8	0.70mi
100 Inverness Ln Birmingham, AL	1.0–3.0	1.0–2.0	1175	$1,208	$1.03	1d	1	0.79mi
1 Eagle Ridge Dr Birmingham, AL	1.0–2.0	1.0–2.0	914	$1,413	$1.55	1d	17	0.87mi
1 Brook Highland Ln Birmingham, AL	1.0–3.0	1.0–2.0	1153	$1,288	$1.12	43d	1	0.93mi
1 Meadow Dr Birmingham, AL	1.0–3.0	1.0–2.0	1153	$1,294	$1.12	43d	1	0.95mi
3100 Heatherbrooke Rd Birmingham, AL	1.0–3.0	1.0–2.0	995	$1,562	$1.57	1d	50	0.98mi
1164 Windsor Sq Birmingham, AL	3.0	3.0	1435	$2,399	$1.67	1d	1	1.06mi
1022 Windsor Dr Birmingham, AL	3.0	3.0	1380	$2,123	$1.54	43d	1	1.09mi
1026 Windsor Dr Unit 1026 Meadowbrook, AL	3.0	3.0	1430	$2,390	$1.67	19d	1	1.09mi
1026 Windsor Dr Meadowbrook, AL	3.0	3.0	1435	$2,295	$1.60	1d	1	1.11mi
1 Lake Heather Reserve Birmingham, AL	1.0–3.0	1.0–2.0	1119	$1,684	$1.50	1d	16	1.15mi
850 Shoal Run Trl Birmingham, AL	1.0–2.0	1.0–2.0	875	$1,299	$1.48	43d	1	1.26mi
801 Cahaba Forest Cv Birmingham, AL	1.0–3.0	1.0–2.0	1054	$1,252	$1.19	2d	24	1.39mi

HOA detail condo

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

Listing history 8 events

1. 2026-06-18
   days on market $172,500 Active 7 DOM
2. 2026-06-17
   days on market $172,500 Active 6 DOM
3. 2026-06-16
   days on market $172,500 Active 5 DOM
4. 2026-06-15
   days on market $172,500 Active 4 DOM
5. 2026-06-13
   days on market $172,500 Active 2 DOM
6. 2026-06-13
   status $172,500 Active 1 DOM
7. 2026-06-10
   remarks 691-char remark
8. 2026-06-10
   listed $172,500 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 6 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,850
• − Mortgage interest: −$9,663
• − Property taxes: −$2,588
• − Insurance: −$862
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$5,018
• Taxable loss: −$3,137
• Est. tax savings @ 24.0%: +$753
• After-tax cash flow: $549/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

Good 75/100 Cosmetic rehab

This well-maintained, good-condition condo is ready for new owners and offers a great view and access to community amenities.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both replace gutters — improves drainage and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both replace gutters — improves drainage and reduces maintenance costs ↑

ⓘ 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: Shelby County
• NCES district ID: 0103030
• Math proficiency: 30% ▼ -28.00%
• Reading proficiency: 58% ▲ 2.00%
• Median HH income: $66,672
• Composite: 39.29/100
• National rank: #3995
• State rank: #16 of 129 in AL

Livability — Meadowbrook

• Score: 63/100
• State rank: #172
• US rank: #14884

Category grades

Amenities F Commute F Cost of living C Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meadowbrook, AL
• County: Shelby County · 188,970 people
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 57,374
• Household income: $117,047
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 1518.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 4% Asian 4% Hispanic / Latino 4%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.14%
• Current HPI: 208.0564
• Rent YoY: ▲ 0.81%
• 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

+50.0% since first listed

10 events — show timeline

• 2026-06-09 Coming Soon $172,500 Greater Alabama MLS
• 2021-05-28 Sold (MLS) $139,700 Greater Alabama MLS
• 2021-04-22 Contingent — Greater Alabama MLS
• 2021-04-20 Listed $138,000 Greater Alabama MLS
• 2021-04-10 Coming Soon $138,000 Greater Alabama MLS
• 2019-07-26 Sold (MLS) $115,900 Greater Alabama MLS
• 2019-07-24 Delisted — Greater Alabama MLS
• 2019-06-28 Contingent — Greater Alabama MLS
• 2019-06-20 Price Changed $114,900 Greater Alabama MLS
• 2019-04-23 Listed $115,000 Greater Alabama MLS