918 N 9th Ave · Birmingham, AL 35204

$30,000

2 bd · 1.0 ba · 727 sqft · SingleFamily public records · 37 Days on market

Built 1930 2,613 sqft lot $41/sqft · 36% below area Est $47k · 36% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks MLS

Great opportunity to own a 2-bedroom, 1-bath home in a growing area of Birmingham . This property offers solid potential for buyers looking to personalize a home or invest in future value. With some updates and improvements, it could truly shine. Whether you're looking for a starter home, downsizing option, or a project to make your own, this home is full of possibilities. Convenient location with easy access to local amenities. Being sold as-is.

Key facts

• 2,613 sq ft lot
• Built 1930
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $955 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.5% 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: 64 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• At $1,454/mo this rent would consume 49% of the median local household income ($35k/yr) (locally 422% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $399 of equity ($207 loan paydown + $192 appreciation (0.6% local appreciation)).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $6k; list at $30k implies a 404% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 4.85% ✓
• Cap rate: 44.48%
• Cash-on-cash: 136.38%
• DSCR: 7.07
• GRM: 1.7

CMA / ARV

• ARV (median comp): $46,945
• List price: $30,000
• Delta: -36.10%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

0.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.24×
• Total profit: $60,856
• Equity at exit: $9,685

10-year hold

• IRR: —
• Equity multiple: 17.23×
• Total profit: $136,343
• Equity at exit: $12,451

Cash invested: $8,400 (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 35204

• Home prices YoY: 0.3%
• Active inventory: 64
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,454 high
• Mortgage (P&I): −$157
• Tax from tax record: −$24 /mo · $286/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $955

Break-even live

Break-even rent $245

Max offer price $30,000

Occupancy floor 29%

Sensitivity live

Price	-10% $972	-5% $963	+0% $955	+5% $946	+10% $938
Rent	-10% $840	-5% $897	+0% $955	+5% $1,012	+10% $1,070
Rate	-1.0pp $970	-0.5pp $962	base $955	+0.5pp $947	+1.0pp $939

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 7th Ave N Birmingham, AL	1.0	1.0	730	$961	$1.32	24d	3	0.47mi
1113 15th St N Birmingham, AL	2.0	1.0	700	$880	$1.26	44d	2	0.59mi
600 19th St N Birmingham, AL	1.0–3.0	1.0–2.0	1120	$2,725	$2.43	17d	30	0.87mi
600 19th St N Birmingham, AL	1.0–3.0	1.0–3.0	1398	$3,008	$2.15	20d	83	0.87mi
1500 12th St N Birmingham, AL	2.0	1.0	750	$800	$1.07	24d	1	0.90mi
1802 14th Ct N Birmingham, AL	2.0	1.0	700	$850	$1.21	20d	1	0.99mi
1801 2nd Ave N #208 Birmingham, AL	1.0	1.0	433	$1,175	$2.71	4d	1	1.01mi
120 19th St N Birmingham, AL	1.0–2.0	1.0–2.0	886	$2,190	$2.47	3d	14	1.04mi
201 20th St N Birmingham, AL	1.0	1.0	491	$1,619	$3.29	4d	30	1.14mi
1701 1st Ave S Birmingham, AL	1.0–2.0	1.0–2.0	889	$2,506	$2.82	3d	21	1.16mi
1329 4th Ave S Birmingham, AL	1.0	1.0	485	$1,700	$3.51	22d	2	1.19mi
1329 4th Ave S #312 Birmingham, AL	1.0	1.0	630	$1,700	$2.70	24d	1	1.19mi
600 24th St N Birmingham, AL	1.0–3.0	1.0–2.0	1098	$1,244	$1.13	2d	13	1.35mi
2000 2nd Ave S Birmingham, AL	2.0	1.0–2.0	980	$2,419	$2.47	4d	27	1.38mi
2212 Morris Ave Apt 208 Birmingham, AL	1.0	1.0	600	$1,423	$2.37	4d	1	1.38mi
2014 3rd Ave S Birmingham, AL	3.0	1.0–3.0	1107	$2,311	$2.09	3d	73	1.42mi
2413 14th Ave N Birmingham, AL	2.0	1.0	720	$675	$0.94	2d	3	1.47mi

Listing history 6 events

1. 2026-06-18
   days on market $30,000 Active 37 DOM
2. 2026-06-17
   days on market $30,000 Active 36 DOM
3. 2026-04-20
   listed $30,000 Active 450-char remark

   Show marketing remark (450 chars)

   Great opportunity to own a 2-bedroom, 1-bath home in a growing area of Birmingham . This property offers solid potential for buyers looking to personalize a home or invest in future value. With some updates and improvements, it could truly shine. Whether you're looking for a starter home, downsizing option, or a project to make your own, this home is full of possibilities. Convenient location with easy access to local amenities. Being sold as-is.

4. 2024-09-24
   price $20,500
5. 2024-08-10
   price $15,500
6. 1979-05-01
   soldstatus $5,950

ⓘ 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: $286 · $24/mo
• Projected year-2 tax: $286 · $24/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 7/10 Severe 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,443
• − Mortgage interest: −$1,680
• − Property taxes: −$286
• − Insurance: −$150
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − Depreciation: −$873
• Taxable income: $11,663
• Est. tax owed @ 24.0%: −$2,799
• After-tax cash flow: $8,657/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): 8,953
• Household income: $35,420
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 422.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Hispanic / Latino 5% Two or more races 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▲ 0.64%
• Current HPI: 201.0777
• Rent YoY: —
• 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

+404.2% since first listed

4 events — show timeline

• 2026-04-20 Listed $30,000 Greater Alabama MLS
• 2024-09-24 Price Changed $20,500 Greater Alabama MLS
• 2024-08-10 Price Changed $15,500 Greater Alabama MLS
• 1979-05-01 Sold (Public Records) $5,950 Public Records

Property tax history

+1.0%/yr

Latest (2025): $286 · -13.6% YoY. Source: county tax records.