1504 6th Pl NW · Birmingham, AL 35215

$104,900

3 bd · 2.0 ba · 1,070 sqft · SingleFamily public records · 141 Days on market

Built 1981 0.73 ac lot $98/sqft · 30% below area Est $150k · 30% under

---

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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.9/10.0
• 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

3br, 1.5 bath home with formal dining room and living room. Home has deck on side and storage building. Home located in cul-de-sac.

Key facts

• Formal dining room
• Deck on side
• Living room

Tags

• FORMAL DINING ROOM
• LIVING ROOM
• DECK ON SIDE
• STORAGE BUILDING
• CUL-DE-SAC

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 $725 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: 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 $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.19% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.62%
• DSCR: 1.52
• GRM: 7.0

CMA / ARV

• ARV (median comp): $150,275
• List price: $104,900
• Delta: -30.19%
• 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
1317 5th Pl NW	0.37mi	3/1.0	1,086 (+2%)	1mo	$92,500	$85	75
421 Wedgeworth Rd	0.55mi	3/1.5	1,092 (+2%)	2mo	$116,400	$107	67
1209 Rose Lynn Ln	0.61mi	3/1.0	1,080 (+1%)	0mo	$150,000	$139	66
424 13th Ct NW	0.48mi	3/1.0	1,118 (+4%)	1mo	$92,500	$83	65
1360 5th Pl NW	0.25mi	3/1.0	1,220 (+14%)	1mo	$92,500	$76	60
409 13th Ct NW	0.54mi	3/1.5	1,118 (+4%)	6mo	$98,672	$88	60
1640 4th Way NW	0.50mi	3/1.0	1,144 (+7%)	4mo	$149,900	$131	58
512 16th Ter NW	0.43mi	3/2.0	1,225 (+14%)	1mo	$183,000	$149	55
1712 4th Pl NW	0.60mi	3/1.0	1,182 (+10%)	3mo	$90,000	$76	48
1240 Lynn Acres Dr	0.48mi	3/1.5	1,224 (+14%)	6mo	$168,000	$137	46
505 18th Ave NW	0.65mi	3/1.0	1,220 (+14%)	6mo	$89,500	$73	38
1128 Cardwell Ln	0.74mi	3/1.0	1,225 (+14%)	4mo	$93,500	$76	34

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,168
• Equity at exit: $15,641

10-year hold

• IRR: 10.7%
• Equity multiple: 1.84×
• Total profit: $24,564
• Equity at exit: $9,070

Cash invested: $29,372 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,249 high
• Mortgage (P&I): −$550
• Tax from tax record: −$109 /mo · $1,302/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $284

Break-even live

Break-even rent $889

Max offer price $104,900

Occupancy floor 72%

Sensitivity live

Price	-10% $344	-5% $314	+0% $284	+5% $255	+10% $225
Rent	-10% $186	-5% $235	+0% $284	+5% $334	+10% $383
Rate	-1.0pp $337	-0.5pp $311	base $284	+0.5pp $257	+1.0pp $230

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 15th Ave NW Birmingham, AL	4.0	2.0	1070	$1,200	$1.12	17d	1	0.05mi
500 15th Ave NW Center Point, AL	3.0	1.0	1079	$1,050	$0.97	4d	1	0.17mi
1356 5th Pl NW Center Point, AL	3.0	1.0	1064	$1,105	$1.04	44d	1	0.24mi
1612 Glenwood St NW Center Point, AL	4.0	3.0	1344	$1,480	$1.10	24d	1	0.24mi
1333 5th Pl NW Center Point, AL	3.0	2.0	1056	$1,275	$1.21	44d	1	0.31mi
1328 5th Pl NW Center Point, AL	3.0	1.0	1250	$1,050	$0.84	17d	1	0.31mi
1305 5th Pl NW Center Point, AL	3.0	2.0	1092	$1,200	$1.10	44d	1	0.38mi
434 15th Ter NW Center Point, AL	3.0	2.0	1053	$1,200	$1.14	44d	1	0.38mi
1301 5th Pl NW Center Point, AL	3.0	1.0	1170	$1,100	$0.94	4d	1	0.40mi
400 13th Ave NW Birmingham, AL	2.0	1.0	1100	$890	$0.81	44d	1	0.41mi
769 15th Ct NW Birmingham, AL	3.0	1.5	1130	$1,310	$1.16	12d	1	0.45mi
1232 Oakwood St Birmingham, AL	3.0	1.5	1301	$1,223	$0.94	24d	1	0.50mi
324 13th Ter NW Center Point, AL	3.0	1.5	1418	$1,295	$0.91	24d	1	0.51mi
405 13th Ct NW Center Point, AL	4.0	1.5	1248	$1,415	$1.13	22d	1	0.53mi
1732 6th St NW Center Point, AL	3.0	1.5	1300	$1,250	$0.96	4d	1	0.56mi
1225 Birchwood St Birmingham, AL	3.0	2.0	1092	$1,175	$1.08	4d	1	0.58mi
1617 3rd Pl NW Center Point, AL	3.0	2.0	1404	$1,150	$0.82	24d	1	0.59mi
1237 Linwood St Birmingham, AL	3.0	1.5	1066	$995	$0.93	44d	1	0.59mi
1700 4th Pl NW Center Point, AL	3.0	1.0	914	$1,075	$1.18	24d	1	0.62mi
1712 4th Pl NW Center Point, AL	3.0	1.0	1182	$1,150	$0.97	24d	1	0.63mi
1153 Linwood St Birmingham, AL	3.0	2.0	1250	$1,295	$1.04	4d	1	0.70mi
108 13th Ave NW Center Point, AL	4.0	2.0	1444	$1,265	$0.88	24d	1	0.71mi
1801 Carson Rd Unit 2 Birmingham, AL	2.0	1.0	800	$600	$0.75	11d	1	0.71mi
1821 Carson Rd Unit 2 Birmingham, AL	2.0	1.5	800	$765	$0.96	44d	1	0.75mi
1821 Carson Rd Unit 3 Birmingham, AL	2.0	1.5	800	$580	$0.72	22d	1	0.76mi
433 Orchid Rd Birmingham, AL	3.0	1.0	1162	$1,255	$1.08	17d	1	0.76mi
1827 Carson Rd Unit 7 Birmingham, AL	3.0	2.5	1332	$950	$0.71	24d	1	0.77mi
1827 Carson Rd Unit 1 Birmingham, AL	3.0	2.5	1332	$1,125	$0.84	44d	1	0.78mi
405 18th Ave NW Center Point, AL	3.0	2.0	1162	$1,299	$1.12	44d	1	0.78mi
217 Killough Dr Birmingham, AL	3.0	2.0	1212	$1,200	$0.99	15d	1	0.82mi
120 Shawnee Ln NW Birmingham, AL	3.0	1.0	1120	$1,075	$0.96	44d	1	0.86mi
1628 1st St NW Center Point, AL	3.0	1.0	1124	$1,150	$1.02	44d	1	0.90mi
1112 Violet Dr Birmingham, AL	3.0	2.0	1414	$1,600	$1.13	12d	1	0.92mi
1629 1st St NW Center Point, AL	3.0	1.0	900	$1,025	$1.14	24d	1	0.93mi
305 18th Ct NW Center Point, AL	3.0	1.5	1270	$1,100	$0.87	44d	1	0.94mi
1541 Charter East Cir NE Birmingham, AL	1.0–2.0	1.0–1.5	807	$1,095	$1.36	3d	8	0.98mi
1628 1st St NE Center Point, AL	3.0	1.0	1027	$1,165	$1.13	44d	1	1.05mi
241 Mamie Ln Birmingham, AL	3.0	2.0	1242	$1,495	$1.20	4d	1	1.07mi
1905 2nd St NW Center Point, AL	3.0	1.0	1258	$1,395	$1.11	44d	1	1.10mi
113 19th Ave NW Center Point, AL	3.0	2.0	1407	$1,250	$0.89	12d	1	1.10mi

Listing history 23 events

1. 2026-06-18
   days on market $104,900 Active 141 DOM
2. 2026-06-17
   days on market $104,900 Active 140 DOM
3. 2026-06-16
   days on market $104,900 Active 139 DOM
4. 2026-06-15
   days on market $104,900 Active 138 DOM
5. 2026-06-13
   days on market $104,900 Active 136 DOM
6. 2026-06-10
   days on market $104,900 Active 133 DOM
7. 2026-06-09
   days on market $104,900 Active 132 DOM
8. 2026-06-08
   days on market $104,900 Active 131 DOM
9. 2026-06-07
   days on market $104,900 Active 130 DOM
10. 2026-06-03
    days on market $104,900 Active 126 DOM
11. 2026-06-02
    days on market $104,900 Active 125 DOM
12. 2026-06-01
    days on market $104,900 Active 124 DOM
13. 2026-05-31
    days on market $104,900 Active 123 DOM
14. 2026-04-13
    price $104,900 131-char remark

    Show marketing remark (131 chars)

    3br, 1.5 bath home with formal dining room and living room. Home has deck on side and storage building. Home located in cul-de-sac.

15. 2026-01-27
    listed $109,900 Active 131-char remark

    Show marketing remark (131 chars)

    3br, 1.5 bath home with formal dining room and living room. Home has deck on side and storage building. Home located in cul-de-sac.

16. 2025-12-11
    soldstatus $297,550
17. 2025-02-07
    historical $1,050
18. 2025-01-17
    listed $1,050
19. 2018-02-27
    soldstatus $1,428,250
20. 2016-07-29
    soldstatus $45,500 Sold 167-char remark

    Show marketing remark (167 chars)

    Move right in to this nice one level 3 bedroom 1.5 bath home. Large deck overlooks the backyard. This is a Fannie Mae homepath property. Right of redemption may apply.

21. 2016-06-17
    listed $49,900 Active 167-char remark

    Show marketing remark (167 chars)

    Move right in to this nice one level 3 bedroom 1.5 bath home. Large deck overlooks the backyard. This is a Fannie Mae homepath property. Right of redemption may apply.

22. 1989-10-31
    soldstatus $45,000
23. 1981-09-01
    soldstatus $42,900

ⓘ 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: $1,302 · $109/mo
• Projected year-2 tax: $1,302 · $109/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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: $14,988
• − Mortgage interest: −$5,876
• − Property taxes: −$1,302
• − Insurance: −$524
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$3,052
• Taxable income: $1,835
• Est. tax owed @ 24.0%: −$440
• After-tax cash flow: $2,972/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

+144.5% since first listed

10 events — show timeline

• 2026-04-13 Price Changed $104,900 Greater Alabama MLS
• 2026-01-27 Listed $109,900 Greater Alabama MLS
• 2025-12-11 Sold (Public Records) $297,550 Public Records
• 2025-02-07 Rental Removed $1,050 APPFOLIO
• 2025-01-17 Listed for Rent $1,050 APPFOLIO
• 2018-02-27 Sold (Public Records) $1,428,250 Public Records
• 2016-07-29 Sold (MLS) $45,500 Greater Alabama MLS
• 2016-06-17 Listed $49,900 Greater Alabama MLS
• 1989-10-31 Sold (Public Records) $45,000 Public Records
• 1981-09-01 Sold (Public Records) $42,900 Public Records

Property tax history

+11.8%/yr

Latest (2025): $1,302 · +0.0% YoY. Source: county tax records.