2508 20th St · Birmingham, AL 35208

$139,900

3 bd · 2.0 ba · 1,795 sqft · SingleFamily public records · 46 Days on market

Built 1923 6,969 sqft lot $78/sqft · at area comps Est $138k · at est.

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Why this score? — see what drove the C- 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 +21.7/30.0
• DSCR +6.9/10.0
• ARV discount +6.8/15.0
• 1% rule +4.6/10.0
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Positioned in the Bush Hills area market, this 1923 property presents a compelling entry point for both owner-occupants and investors. Estimated ownership at under $839/month P & I creates a strong rent-vs-own value proposition. Qualified buyers may leverage 100% financing plus a potential $15-20,000 grant (OAC), reducing upfront capital requirements. Value-add potential extends beyond the home itself—adjacent lots on both sides are available at a negotiable price, offering options for expansion, new construction, or portfolio growth.

Key facts

• 6,969 sq ft lot
• 2 parking spots
• Built 1923

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (4.4% below list).
• Recommended offer: $134k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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 at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 42% 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 $967 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 + 7.2% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,713 (4.4% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.96% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.61%
• DSCR: 1.29
• GRM: 8.7

CMA / ARV

• ARV (median comp): $137,700
• List price: $139,900
• Delta: 1.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2511 20th Place Ensley	0.11mi	4/2.0 (+1)	1,794 (-0%)	12mo	$57,000	$32	80
2541 20th St W	0.08mi	4/3.0 (+1)	1,911 (+6%)	0mo	$173,000	$91	76
2739 Bush Blvd	0.38mi	3/2.0	1,978 (+10%)	1mo	$239,000	$121	64
2720 23rd St W	0.36mi	3/1.0	1,692 (-6%)	6mo	$45,000	$27	64
2344 22nd St W	0.18mi	2/1.0 (-1)	1,976 (+10%)	2mo	$65,000	$33	64
2733 17th St W	0.29mi	4/2.0 (+1)	1,900 (+6%)	14mo	$164,500	$87	60
2517 Avenue	0.44mi	4/1.5 (+1)	1,638 (-9%)	1mo	$114,429	$70	57
2223 28th St W	0.64mi	4/2.0 (+1)	1,836 (+2%)	5mo	$100,000	$54	57
2725 23rd St	0.39mi	4/2.0 (+1)	1,897 (+6%)	17mo	$108,000	$57	54
2854 20th St W	0.56mi	3/1.5	1,634 (-9%)	10mo	$62,000	$38	49
1719 4th Ct W	0.65mi	3/1.5	1,986 (+11%)	4mo	$160,000	$81	46
3010 15th Street Ensley	0.59mi	4/3.0 (+1)	1,998 (+11%)	11mo	$192,500	$96	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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-3,042
• Equity at exit: $20,860

10-year hold

• IRR: 11.5%
• Equity multiple: 2.06×
• Total profit: $41,448
• Equity at exit: $12,096

Cash invested: $39,172 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,337 high
• Mortgage (P&I): −$734
• Tax from tax record: −$49 /mo · $584/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $216

Break-even live

Break-even rent $1,064

Max offer price $139,900

Occupancy floor 79%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2609 20th Street Ensley Birmingham, AL	3.0	2.0	1500	$1,550	$1.03	3d	1	0.17mi
2609 20th Street Ensley Birmingham, AL	3.0	2.0	1229	$1,550	$1.26	43d	1	0.17mi
2356 22nd Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1500	$985	$0.66	23d	1	0.19mi
2714 17th Street Ensley Birmingham, AL	4.0	2.0	1976	$1,553	$0.79	3d	1	0.21mi
2523 16th street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1584	$1,300	$0.82	43d	1	0.22mi
2337 23rd Street Ensley Birmingham, AL	3.0	1.0	1446	$1,295	$0.90	43d	1	0.31mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1692	$1,500	$0.89	19d	1	0.37mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1350	$1,500	$1.11	3d	1	0.37mi
2528 25th Street Ensley Birmingham, AL	3.0	1.0	1563	$1,100	$0.70	43d	1	0.38mi
2712 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1232	$1,099	$0.89	23d	1	0.41mi
2426 Avenue U Unit U Birmingham, AL	3.0	2.0	1260	$1,175	$0.93	19d	1	0.45mi
2108 25th Street Ensley Birmingham, AL	4.0	2.0	1446	$1,300	$0.90	43d	1	0.47mi
1825 18th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1316	$1,123	$0.85	43d	1	0.50mi
2304 Eufaula Ave Birmingham, AL	3.0	1.0	1381	$980	$0.71	43d	1	0.54mi
2436 Avenue S Birmingham, AL	4.0	2.0	1800	$1,400	$0.78	3d	1	0.57mi
2309 Eufaula Ave Birmingham, AL	4.0	2.0	1454	$1,395	$0.96	23d	1	0.57mi
2709 30th Street Ensley Birmingham, AL	4.0	2.0	1410	$1,323	$0.94	1d	1	0.59mi
2920 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1800	$1,050	$0.58	23d	1	0.61mi
2348 Court R Birmingham, AL	3.0	2.0	1792	$1,769	$0.99	1d	1	0.64mi
2348 Court R Birmingham, AL	3.0	2.0	2400	$1,639	$0.68	19d	1	0.64mi
1701 4th Ter W Birmingham, AL	4.0	2.5	1977	$1,550	$0.78	23d	1	0.68mi
3017 Ensley Ave Birmingham, AL	3.0	1.0	1540	$1,400	$0.91	1d	1	0.78mi
1532 Graymont Ave W Birmingham, AL	4.0	2.0	1913	$1,150	$0.60	43d	1	0.79mi
1701 Avenue I Unit I Birmingham, AL	4.0	2.0	1509	$1,225	$0.81	1d	1	0.90mi
820 17th Street Ensley Birmingham, AL	3.0	2.0	1336	$1,250	$0.94	43d	1	0.91mi
1724 30th Street Ensley Birmingham, AL	4.0	2.0	1428	$1,395	$0.98	15d	1	0.93mi
1633 29th Street Ensley Birmingham, AL	3.0	2.0	1658	$1,200	$0.72	43d	1	0.97mi
1520 Avenue G Unit G Birmingham, AL	4.0	1.0	1231	$1,100	$0.89	43d	1	1.03mi
1230 4th Ter W Birmingham, AL	3.0	2.0	1540	$1,000	$0.65	43d	1	1.03mi
1545 29th Street Ensley Birmingham, AL	3.0	1.5	1331	$1,200	$0.90	43d	1	1.04mi
2520 Avenue U Unit A Birmingham, AL	4.0	1.0	1260	$1,200	$0.95	43d	1	1.08mi
725 Avenue G Unit G Birmingham, AL	3.0	1.0	1926	$1,175	$0.61	23d	1	1.09mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	43d	1	1.14mi
1402 Avenue E Birmingham, AL	3.0	3.0	1519	$1,273	$0.84	15d	1	1.15mi
2520 Avenue L Unit A Birmingham, AL	4.0	1.5	1260	$1,150	$0.91	23d	1	1.16mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	1d	1	1.19mi
2133 47th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1308	$1,300	$0.99	43d	1	1.19mi
1108 4th Ct W Birmingham, AL	3.0	2.0	1623	$1,125	$0.69	2d	1	1.20mi
1101 7th Ave W Birmingham, AL	3.0	1.0	1248	$1,250	$1.00	43d	1	1.25mi
4636 Avenue T Unit T Birmingham, AL	4.0	1.5	1842	$1,500	$0.81	1d	1	1.29mi

Listing history 17 events

1. 2026-06-18
   days on market $139,900 Active 46 DOM
2. 2026-06-17
   days on market $139,900 Active 45 DOM
3. 2026-06-16
   days on market $139,900 Active 44 DOM
4. 2026-06-15
   days on market $139,900 Active 43 DOM
5. 2026-06-13
   days on market $139,900 Active 41 DOM
6. 2026-06-10
   days on market $139,900 Active 38 DOM
7. 2026-06-09
   days on market $139,900 Active 37 DOM
8. 2026-06-08
   days on market $139,900 Active 36 DOM
9. 2026-06-07
   days on market $139,900 Active 35 DOM
10. 2026-06-03
    days on market $139,900 Active 31 DOM
11. 2026-06-02
    days on market $139,900 Active 30 DOM
12. 2026-06-01
    days on market $139,900 Active 29 DOM
13. 2026-05-31
    days on market $139,900 Active 28 DOM
14. 2026-05-14
    status Active 550-char remark

    Show marketing remark (550 chars)

    Positioned in the Bush Hills area market, this 1923 property presents a compelling entry point for both owner-occupants and investors. Estimated ownership at under $839/month P & I creates a strong rent-vs-own value proposition. Qualified buyers may leverage 100% financing plus a potential $15-20,000 grant (OAC), reducing upfront capital requirements. Value-add potential extends beyond the home itself—adjacent lots on both sides are available at a negotiable price, offering options for expansion, new construction, or portfolio growth.

15. 2026-04-12
    status Pending 550-char remark

    Show marketing remark (550 chars)

    Positioned in the Bush Hills area market, this 1923 property presents a compelling entry point for both owner-occupants and investors. Estimated ownership at under $839/month P & I creates a strong rent-vs-own value proposition. Qualified buyers may leverage 100% financing plus a potential $15-20,000 grant (OAC), reducing upfront capital requirements. Value-add potential extends beyond the home itself—adjacent lots on both sides are available at a negotiable price, offering options for expansion, new construction, or portfolio growth.

16. 2026-04-01
    listed $139,900 Active 550-char remark

    Show marketing remark (550 chars)

    Positioned in the Bush Hills area market, this 1923 property presents a compelling entry point for both owner-occupants and investors. Estimated ownership at under $839/month P & I creates a strong rent-vs-own value proposition. Qualified buyers may leverage 100% financing plus a potential $15-20,000 grant (OAC), reducing upfront capital requirements. Value-add potential extends beyond the home itself—adjacent lots on both sides are available at a negotiable price, offering options for expansion, new construction, or portfolio growth.

17. 2026-03-28
    historical $139,900 550-char remark

    Show marketing remark (550 chars)

    Positioned in the Bush Hills area market, this 1923 property presents a compelling entry point for both owner-occupants and investors. Estimated ownership at under $839/month P & I creates a strong rent-vs-own value proposition. Qualified buyers may leverage 100% financing plus a potential $15-20,000 grant (OAC), reducing upfront capital requirements. Value-add potential extends beyond the home itself—adjacent lots on both sides are available at a negotiable price, offering options for expansion, new construction, or portfolio growth.

ⓘ 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: $584 · $49/mo
• Projected year-2 tax: $584 · $49/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 18 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,046
• − Mortgage interest: −$7,837
• − Property taxes: −$584
• − Insurance: −$700
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$4,070
• Taxable income: $288
• Est. tax owed @ 24.0%: −$69
• After-tax cash flow: $2,519/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): 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

+0.0% since first listed

4 events — show timeline

• 2026-05-14 Relisted — Greater Alabama MLS
• 2026-04-12 Pending — Greater Alabama MLS
• 2026-04-01 Listed $139,900 Greater Alabama MLS
• 2026-03-28 Coming Soon $139,900 Greater Alabama MLS

Property tax history

+3.1%/yr

Latest (2025): $584 · +0.0% YoY. Source: county tax records.