173 Old Montgomery Hwy Unit D · Homewood, AL 35216

$125,000

2 bd · 1.0 ba · 961 sqft · Condo · 296 Days on market

Built 1969 $130/sqft · 28% below area Est $174k · 28% under

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Schools +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 2-bedroom, 1-bathroom condo in the desirable Foxcroft Condominium Community! This inviting unit has plenty of closet space, a spacious kitchen with a large pantry, and a private balcony perfect for relaxing. Enjoy the convenience of great parking, a sparkling community pool, and an unbeatable location just minutes from Samford, UAB, Brookwood Hospital, and all that Homewood and the surrounding area has to offer.

Key facts

• Community pool
• Private balcony
• Large pantry

Tags

• LARGE PANTRY
• PRIVATE BALCONY
• COMMUNITY POOL
• UNBEATABLE LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 2.3% in Homewood — 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 80/100 on livability (#5 in AL, #1,730 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Homewood City (suburban): math 55% / reading 74% proficiency, ranked #3 of 129 in AL (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $864 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 296 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $125k implies a 151% gain — meaningful room to come down on a strong offer.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 296 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.38% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.08%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (median comp): $173,605
• List price: $125,000
• Delta: -28.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $10,796
• Equity at exit: $18,638

10-year hold

• IRR: 16.8%
• Equity multiple: 2.36×
• Total profit: $47,487
• Equity at exit: $10,808

Cash invested: $35,000 (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 35216

• Rents YoY: 2.6%
• Active inventory: 135
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,724 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $498

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 66%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
153 Old Montgomery Hwy Vestavia Hills, AL	2.0	2.0	992	$1,800	$1.81	2d	1	0.11mi
150 Old Montgomery Hwy Unit 1 C Birmingham, AL	2.0	2.0	992	$1,750	$1.76	14d	1	0.12mi
150 Old Montgomery Hwy Birmingham, AL	2.0	2.0	970	$1,750	$1.80	2d	1	0.12mi
1301 Lakeshore Dr Homewood, AL	3.0	1.0–2.0	1175	$1,460	$1.24	2d	12	0.33mi
1903 Vestavia Ct Vestavia Hills, AL	1.0–3.0	1.0–2.0	1001	$1,395	$1.39	2d	6	0.74mi
3450 Manor Dr Homewood, AL	1.0–2.0	1.0–2.0	1050	$2,179	$2.08	3d	10	0.79mi
3421 Sandner Ct Unit D Homewood, AL	2.0	1.0	864	$1,800	$2.08	44d	1	0.83mi
3425 Sandner Ct Unit D Homewood, AL	2.0	1.0	864	$1,500	$1.74	44d	1	0.84mi
3441 Sandner Ct Homewood, AL	1.0	1.0	647	$1,500	$2.32	10d	1	0.86mi
3120 Lancaster Ct Unit A Homewood, AL	1.0	1.0	800	$2,499	$3.12	2d	1	1.03mi
1905 Courtney Dr Apt 15 Homewood, AL	1.0	1.0	565	$950	$1.68	44d	1	1.19mi
1860 Oxmoor Rd Unit 532 Homewood, AL	2.0	2.0	1118	$3,950	$3.53	3d	1	1.28mi
1831 28th Ave S Birmingham, AL	1.0	1.0	859	$1,995	$2.32	24d	1	1.48mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 296 DOM
2. 2026-06-17
   days on market $125,000 Active 295 DOM
3. 2026-06-16
   days on market $125,000 Active 294 DOM
4. 2026-06-15
   days on market $125,000 Active 293 DOM
5. 2026-06-13
   days on market $125,000 Active 291 DOM
6. 2026-06-10
   days on market $125,000 Active 288 DOM
7. 2026-06-09
   days on market $125,000 Active 287 DOM
8. 2026-06-08
   days on market $125,000 Active 286 DOM
9. 2026-06-07
   days on market $125,000 Active 285 DOM
10. 2026-06-03
    days on market $125,000 Active 281 DOM
11. 2026-06-02
    days on market $125,000 Active 280 DOM
12. 2026-06-01
    days on market $125,000 Active 279 DOM
13. 2026-05-31
    days on market $125,000 Active 278 DOM
14. 2026-01-30
    price $125,000 445-char remark

    Show marketing remark (445 chars)

    Welcome home to this charming 2-bedroom, 1-bathroom condo in the desirable Foxcroft Condominium Community! This inviting unit has plenty of closet space, a spacious kitchen with a large pantry, and a private balcony perfect for relaxing. Enjoy the convenience of great parking, a sparkling community pool, and an unbeatable location just minutes from Samford, UAB, Brookwood Hospital, and all that Homewood and the surrounding area has to offer.

15. 2025-09-25
    price $129,000 445-char remark

    Show marketing remark (445 chars)

    Welcome home to this charming 2-bedroom, 1-bathroom condo in the desirable Foxcroft Condominium Community! This inviting unit has plenty of closet space, a spacious kitchen with a large pantry, and a private balcony perfect for relaxing. Enjoy the convenience of great parking, a sparkling community pool, and an unbeatable location just minutes from Samford, UAB, Brookwood Hospital, and all that Homewood and the surrounding area has to offer.

16. 2025-08-26
    listed $135,000 Active 445-char remark

    Show marketing remark (445 chars)

    Welcome home to this charming 2-bedroom, 1-bathroom condo in the desirable Foxcroft Condominium Community! This inviting unit has plenty of closet space, a spacious kitchen with a large pantry, and a private balcony perfect for relaxing. Enjoy the convenience of great parking, a sparkling community pool, and an unbeatable location just minutes from Samford, UAB, Brookwood Hospital, and all that Homewood and the surrounding area has to offer.

17. 2015-02-06
    soldstatus $49,900 366-char remark

    Show marketing remark (366 chars)

    THIS LOCATION CANNOT BE BEAT! ACROSS FROM THE POOL WITH WOODED AREA BEHIND. MAIN LEVEL. NO STEPS FROM CAR TO CONDO. THIS SELLER CALLED IT "HOME" FOR TWENTY YEARS BUT, UNFORTUNATELY, HAS HAD TO MOVE TO ASSISTED LIVING. PERFECT LOCATION FOR SAMFORD STUDENTS, UAB STUDENTS, BROOKWOOD HOSPITAL, SHOPPING AND INTERSTATES. NEW WATER HEATER INSTALLED IN DECEMBER.

18. 2014-06-24
    listed $49,900 366-char remark

    Show marketing remark (366 chars)

    THIS LOCATION CANNOT BE BEAT! ACROSS FROM THE POOL WITH WOODED AREA BEHIND. MAIN LEVEL. NO STEPS FROM CAR TO CONDO. THIS SELLER CALLED IT "HOME" FOR TWENTY YEARS BUT, UNFORTUNATELY, HAS HAD TO MOVE TO ASSISTED LIVING. PERFECT LOCATION FOR SAMFORD STUDENTS, UAB STUDENTS, BROOKWOOD HOSPITAL, SHOPPING AND INTERSTATES. NEW WATER HEATER INSTALLED IN DECEMBER.

ⓘ 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: $20,690
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$3,636
• Taxable income: $4,241
• Est. tax owed @ 24.0%: −$1,018
• After-tax cash flow: $4,961/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: Homewood City
• NCES district ID: 0101760
• Math proficiency: 55% ▼ -20.00%
• Reading proficiency: 74% ▲ 6.00%
• Median HH income: $63,366
• Composite: 56.01/100
• National rank: #1189
• State rank: #3 of 129 in AL

Livability — Homewood

• Score: 80/100
• State rank: #5
• US rank: #1730

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homewood, AL
• County: Jefferson County · 527,445 people
• City population: 32,734
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 34,327
• Household income: $74,525
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 1747.0

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 61% Black 24% Hispanic / Latino 8% Asian 5% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Arabic 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: ▼ -259.83%
• Current HPI: 239.8705
• 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

+150.5% since first listed

5 events — show timeline

• 2026-01-30 Price Changed $125,000 Greater Alabama MLS
• 2025-09-25 Price Changed $129,000 Greater Alabama MLS
• 2025-08-26 Listed $135,000 Greater Alabama MLS
• 2015-02-06 Sold (MLS) $49,900 Greater Alabama MLS
• 2014-06-24 Listed $49,900 Greater Alabama MLS