2625 Highland Ave #402 · Birmingham, AL 35205

$129,900

1 bd · 1.0 ba · 625 sqft · Condo public records · 51 Days on market

Built 1974 $208/sqft · 20% below area Est $163k · 20% under

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Cash flow +3.7/30.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED REDUCED REDUCED!!! SELLER SAID LET IT GO!!! This charming one bedroom with updated kitchen and updated bathroom features an open concept, neutral colors, large closets, breakfast bar and so much more!!! Located on the fourth floor in a historic district. Parking spot included located behind the building in the alley number 402. Perfect for a young professional, student or investor. This condo is move ready and waiting for its new owner. Don't let this one get away.

Key facts

• Open concept
• Large closets
• Updated kitchen

Tags

• UPDATED BATHROOM
• UPDATED KITCHEN
• OPEN CONCEPT
• LARGE CLOSETS
• BREAKFAST BAR
• HISTORIC DISTRICT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-379 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (25.1% below list).
• Recommended offer: $97k (25.1% below list) — sets the bar for 1% rule.
• Cap rate 2.8% vs local median 6.2% in Birmingham — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+2.6%/yr); 124 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $898 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.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $68k; list at $130k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $97,336 (25.1% 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. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.75% ✗
• Cap rate: 2.80%
• Cash-on-cash: -12.49%
• DSCR: 0.44
• GRM: 11.1

CMA / ARV

• ARV (median comp): $163,142
• List price: $129,900
• Delta: -20.38%
• 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: -39.9%
• Equity multiple: -0.25×
• Total profit: $-45,396
• Equity at exit: $19,369

10-year hold

• IRR: -65.9%
• Equity multiple: -0.97×
• Total profit: $-71,526
• Equity at exit: $11,231

Cash invested: $36,372 (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 35205

• Rents YoY: 2.6%
• Active inventory: 124
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $973 high
• Mortgage (P&I): −$681
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$54
• HOA est. from 3 same-building comps: −$334
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $-379

Break-even live

Break-even rent $1,453

Max offer price $63,014

Occupancy floor —

Sensitivity live

Price	-10% $-305	-5% $-342	+0% $-379	+5% $-415	+10% $-452
Rent	-10% $-456	-5% $-417	+0% $-379	+5% $-340	+10% $-302
Rate	-1.0pp $-313	-0.5pp $-346	base $-379	+0.5pp $-412	+1.0pp $-447

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2612 Niazuma Ave S Birmingham, AL	1.0–2.0	1.0	665	$965	$1.45	17d	9	0.07mi
55 Hanover Cir S Birmingham, AL	1.0	1.0	678	$1,175	$1.73	45d	2	0.12mi
55 Hanover Cir S Birmingham, AL	1.0	1.0	678	$1,175	$1.73	17d	2	0.12mi
2704 Hanover Cir Unit 2 Birmingham, AL	1.0	1.0	600	$915	$1.52	25d	1	0.13mi
1317 27th Pl S Unit 1317A Birmingham, AL	1.0	1.0	550	$895	$1.63	5d	1	0.14mi
57 Hanover Cir S Birmingham, AL	1.0	1.0	600	$1,300	$2.17	45d	1	0.14mi
2525 Highland Ave Apt G1 Birmingham, AL	—	1.0	400	$756	$1.89	5d	1	0.14mi
2511 Caldwell Ave S Apt 9 Birmingham, AL	1.0	1.0	700	$915	$1.31	25d	1	0.18mi
2511 Caldwell Ave S Unit 3 Birmingham, AL	1.0	1.0	650	$915	$1.41	45d	1	0.18mi
1228 29th St S Unit Montclair 18 Birmingham, AL	—	1.0	475	$764	$1.61	45d	1	0.20mi
1228 29th St S Birmingham, AL	1.0	1.0	562	$915	$1.63	4d	2	0.20mi
1022 28th Pl S #2 Birmingham, AL	1.0	1.0	740	$1,100	$1.49	45d	1	0.21mi
1300 29th St S Unit 1304-9 Birmingham, AL	1.0	1.0	557	$964	$1.73	16d	1	0.22mi
1227 29th St S Unit 1227-C Birmingham, AL	1.0	1.0	605	$820	$1.36	21d	1	0.23mi
1229 29th St S Unit 1229-C Birmingham, AL	1.0	1.0	539	$896	$1.66	23d	1	0.24mi
2251 Highland Ave S Birmingham, AL	1.0	1.0	522	$950	$1.82	3d	5	0.25mi
2907 13th Ave S Apt B4 Birmingham, AL	1.0	1.0	624	$1,087	$1.74	45d	1	0.26mi
2907 13th Ave S Unit A-6 Birmingham, AL	1.0	1.0	624	$1,105	$1.77	12d	1	0.26mi
2824 Rhodes Cir S Birmingham, AL	1.0	1.0	615	$995	$1.62	5d	2	0.28mi
2964 Rhodes Cir S Birmingham, AL	1.0–2.0	1.0	670	$855	$1.28	16d	2	0.28mi
1248 22nd St S Birmingham, AL	1.0	1.0	643	$799	$1.24	16d	5	0.29mi
3003 13th Ave S Apt 11 Birmingham, AL	1.0	1.0	718	$971	$1.35	45d	1	0.29mi
2990 Rhodes Cir S Birmingham, AL	1.0	1.0	562	$1,000	$1.78	25d	1	0.31mi
2830 10th Ct S Birmingham, AL	1.0	1.0	747	$877	$1.17	17d	1	0.31mi
2829 10th Ave S Unit G Birmingham, AL	1.0	1.0	600	$915	$1.52	25d	1	0.34mi
1033 30th St S Unit B Birmingham, AL	1.0	1.0	650	$945	$1.45	13d	1	0.36mi
1033 30th St S Unit C Birmingham, AL	1.0	1.0	650	$945	$1.45	25d	1	0.36mi
1033 30th St S Unit R Birmingham, AL	1.0	1.0	650	$945	$1.45	21d	1	0.36mi
2230 Highland Ave Birmingham, AL	2.0	1.0–2.0	968	$2,390	$2.47	3d	272	0.36mi
1025 30th St S Unit 1C Birmingham, AL	1.0	1.0	650	$1,000	$1.54	17d	1	0.37mi
3113 Pawnee Ave S Unit 2 Birmingham, AL	1.0	1.0	500	$1,087	$2.17	25d	1	0.41mi
2920 10th Ave S Unit 2924-A Birmingham, AL	2.0	1.0	661	$1,084	$1.64	21d	1	0.41mi
2920 10th Ave S Unit 2920-D Birmingham, AL	2.0	1.0	661	$1,091	$1.65	12d	1	0.41mi
909 30th St S Unit 13 Birmingham, AL	2.0	1.0	705	$1,014	$1.44	5d	1	0.43mi
2925 Clairmont Ave Apt D Birmingham, AL	1.0	1.0	640	$890	$1.39	45d	1	0.44mi
2925 Clairmont Ave Unit G Birmingham, AL	1.0	1.0	640	$888	$1.39	45d	1	0.44mi
2925 Clairmont Ave Apt H Birmingham, AL	1.0	1.0	640	$933	$1.46	45d	1	0.44mi
2173 Highland Ave S Birmingham, AL	1.0–2.0	1.0–2.0	908	$1,578	$1.74	3d	32	0.45mi
2155 11th Ct S Unit 11 Birmingham, AL	1.0	1.0	625	$851	$1.36	23d	1	0.47mi
2155 11th Ct S Unit 1 Birmingham, AL	1.0	1.0	625	$811	$1.30	4d	1	0.47mi

HOA detail condo

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

Listing history 17 events

1. 2026-05-15
   status Pending 479-char remark

   Show marketing remark (479 chars)

   REDUCED REDUCED REDUCED!!! SELLER SAID LET IT GO!!! This charming one bedroom with updated kitchen and updated bathroom features an open concept, neutral colors, large closets, breakfast bar and so much more!!! Located on the fourth floor in a historic district. Parking spot included located behind the building in the alley number 402. Perfect for a young professional, student or investor. This condo is move ready and waiting for its new owner. Don't let this one get away.

2. 2026-04-17
   price $129,900 479-char remark

   Show marketing remark (479 chars)

   REDUCED REDUCED REDUCED!!! SELLER SAID LET IT GO!!! This charming one bedroom with updated kitchen and updated bathroom features an open concept, neutral colors, large closets, breakfast bar and so much more!!! Located on the fourth floor in a historic district. Parking spot included located behind the building in the alley number 402. Perfect for a young professional, student or investor. This condo is move ready and waiting for its new owner. Don't let this one get away.

3. 2026-03-23
   listed $139,900 Active 479-char remark

   Show marketing remark (479 chars)

   REDUCED REDUCED REDUCED!!! SELLER SAID LET IT GO!!! This charming one bedroom with updated kitchen and updated bathroom features an open concept, neutral colors, large closets, breakfast bar and so much more!!! Located on the fourth floor in a historic district. Parking spot included located behind the building in the alley number 402. Perfect for a young professional, student or investor. This condo is move ready and waiting for its new owner. Don't let this one get away.

4. 2025-12-14
   price $139,900
5. 2025-06-26
   price $145,900
6. 2025-06-09
   price $149,900
7. 2025-05-28
   price $152,000
8. 2025-05-21
   price $157,900
9. 2025-04-13
   historical $1,400
10. 2025-03-21
    price $1,400
11. 2025-02-27
    listed $1,500
12. 2015-08-24
    soldstatus $68,000
13. 2015-08-24
    soldstatus $129,200
14. 2015-07-24
    historical
15. 2015-06-04
    listed $69,900
16. 1999-12-30
    soldstatus $40,000
17. 1984-08-14
    soldstatus $34,000

ⓘ 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: $939 · $78/mo
• Projected year-2 tax: $939 · $78/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,680
• − Mortgage interest: −$7,276
• − Property taxes: −$939
• − Insurance: −$650
• − Repairs & maintenance: −$934
• − Management: −$934
• − HOA: −$4,008
• − Depreciation: −$3,779
• Taxable loss: −$6,840
• Est. tax savings @ 24.0%: +$1,642
• After-tax cash flow: $-2,902/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

+282.1% since first listed

17 events — show timeline

• 2026-05-15 Pending — Greater Alabama MLS
• 2026-04-17 Price Changed $129,900 Greater Alabama MLS
• 2026-03-23 Listed $139,900 Greater Alabama MLS
• 2025-12-14 Price Changed $139,900 Greater Alabama MLS
• 2025-06-26 Price Changed $145,900 Greater Alabama MLS
• 2025-06-09 Price Changed $149,900 Greater Alabama MLS
• 2025-05-28 Price Changed $152,000 Greater Alabama MLS
• 2025-05-21 Price Changed $157,900 Greater Alabama MLS
• 2025-04-13 Rental Removed $1,400 SHOWMOJO
• 2025-03-21 Price Changed $1,400 SHOWMOJO
• 2025-02-27 Listed for Rent $1,500 SHOWMOJO
• 2015-08-24 Sold (Public Records) $129,200 Public Records
• 2015-08-24 Sold (MLS) $68,000 Greater Alabama MLS
• 2015-07-24 Delisted — Greater Alabama MLS
• 2015-06-04 Listed $69,900 Greater Alabama MLS
• 1999-12-30 Sold (Public Records) $40,000 Public Records
• 1984-08-14 Sold (Public Records) $34,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $939 · +0.0% YoY. Source: county tax records.