1328 22nd St N · Birmingham, AL 35234

$79,000

3 bd · 1.0 ba · 1,540 sqft · SingleFamily public records · 13 Days on market

Built 1920 4,791 sqft lot $51/sqft · 34% below area Est $120k · 34% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.1/10.0

Listing remarks MLS

Investor special in the heart of Druid Hills! This property is ready for a FULL renovation and offers endless potential for the right buyer with vision. Situated on a great corner lot in an established neighborhood, this home is a blank canvas—perfect for a complete remodel, flip, or long-term investment. Property will require significant repairs and is being sold as-is, where-is. Ideal for experienced investors or contractors looking to bring new life into a home with solid upside potential. Conveniently located near downtown, Coca Cola Amphitheatre, interstates, and local amenities, making it a prime candidate for future value. Bring your vision, your contractor, and your plans—this is your opportunity to be part of the revitalization taking place in the area.

Key facts

• Full renovation
• Local amenities
• Corner lot

Tags

• FULL RENOVATION
• CORNER LOT
• ESTABLISHED NEIGHBORHOOD
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Cap rate 15.1% 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: 54 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $546 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1920 — 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 $79,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.77% ✓
• Cap rate: 15.08%
• Cash-on-cash: 31.39%
• DSCR: 2.40
• GRM: 4.7

CMA / ARV

• ARV (median comp): $119,967
• List price: $79,000
• Delta: -34.15%
• 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
2204 14th Ave N	0.04mi	3/1.0	1,571 (+2%)	8mo	$164,681	$105	88
1608 N 19th St	0.39mi	3/1.0	1,500 (-3%)	5mo	$55,000	$37	74
1606 27th St N	0.49mi	4/2.0 (+1)	1,583 (+3%)	4mo	$115,000	$73	60
1928 15th Ter N	0.34mi	3/1.0	1,401 (-9%)	13mo	$99,900	$71	58
2820 Norwood Blvd	0.59mi	3/2.0	1,506 (-2%)	9mo	$245,000	$163	57
1575 19th St N	0.40mi	2/2.0 (-1)	1,491 (-3%)	16mo	$169,900	$114	54
1428 16th St N	0.56mi	3/2.0	1,380 (-10%)	1mo	$145,000	$105	52
1900 N 15th Ct	0.36mi	3/1.0	1,748 (+14%)	12mo	$45,000	$26	50
2609 N 18th Ave N	0.58mi	3/1.0	1,434 (-7%)	17mo	$57,500	$40	47
1617 27th St N	0.53mi	3/3.0	1,750 (+14%)	9mo	$245,000	$140	37
1431 28th St N	0.59mi	4/2.0 (+1)	1,746 (+13%)	6mo	$209,900	$120	36
1123 14th St N	0.74mi	3/2.0	1,340 (-13%)	18mo	$89,000	$66	24

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 2.09×
• Total profit: $24,059
• Equity at exit: $11,779

10-year hold

• IRR: 33.9%
• Equity multiple: 4.09×
• Total profit: $68,441
• Equity at exit: $6,830

Cash invested: $22,120 (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 35234

• Home prices YoY: -3.8%
• Active inventory: 54
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$414
• Tax from tax record: −$80 /mo · $960/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $579

Break-even live

Break-even rent $667

Max offer price $79,000

Occupancy floor 54%

Sensitivity live

Price	-10% $623	-5% $601	+0% $579	+5% $556	+10% $534
Rent	-10% $468	-5% $523	+0% $579	+5% $634	+10% $689
Rate	-1.0pp $618	-0.5pp $599	base $579	+0.5pp $558	+1.0pp $537

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1906 15th Ct N Birmingham, AL	2.0	1.0	1311	$1,000	$0.76	24d	1	0.37mi
1900 15th Ct N Birmingham, AL	4.0	2.0	1748	$1,425	$0.82	44d	1	0.38mi
1608 18th Pl N Birmingham, AL	3.0	2.0	1243	$950	$0.76	44d	1	0.46mi
2212 20th St N Birmingham, AL	3.0	1.0	1141	$895	$0.78	44d	1	0.63mi
2108 25th St N Birmingham, AL	4.0	2.0	1446	$1,300	$0.90	44d	1	0.68mi
1742 17th St N Unit 2 Birmingham, AL	3.0	2.0	1300	$1,500	$1.15	17d	1	0.73mi
3001 Norwood Blvd Birmingham, AL	2.0	2.0	1092	$1,500	$1.37	4d	1	0.81mi
1319 31st St N Birmingham, AL	3.0	2.0	2074	$1,345	$0.65	22d	1	0.82mi
600 24th St N Birmingham, AL	1.0–3.0	1.0–2.0	1098	$1,499	$1.36	2d	13	0.82mi
1317 11th St N Birmingham, AL	3.0	1.0	1340	$1,200	$0.90	44d	1	0.83mi
600 19th St N Birmingham, AL	1.0–3.0	1.0–3.0	1398	$4,560	$3.26	20d	83	0.86mi
600 19th St N Birmingham, AL	1.0–3.0	1.0–2.0	1120	$3,550	$3.17	17d	30	0.86mi
600 19th St N Apt 202 Birmingham, AL	3.0	2.0	1248	$3,050	$2.44	12d	1	0.87mi
600 19th St N Unit 211 Birmingham, AL	2.0	2.0	1670	$3,250	$1.95	12d	1	0.87mi
2223 28th St N Birmingham, AL	4.0	2.0	1836	$1,300	$0.71	44d	1	0.88mi
353 16th Ave N Birmingham, AL	3.0	1.0	1200	$995	$0.83	44d	1	0.97mi
1216 4th Pl N Birmingham, AL	3.0	2.0	1565	$1,150	$0.73	44d	1	1.09mi
2024 2nd Ave N #1801 Birmingham, AL	2.0	2.0	1340	$2,500	$1.87	24d	1	1.12mi
120 19th St N Birmingham, AL	1.0–2.0	1.0–2.0	886	$2,190	$2.47	3d	14	1.19mi
1720 34th Pl N Birmingham, AL	3.0	3.0	1861	$2,200	$1.18	2d	1	1.21mi
2311 Morris Ave Birmingham, AL	2.0	1.0	2000	$5,000	$2.50	4d	1	1.27mi
2311 Morris Ave Birmingham, AL	2.0	1.0	2000	$5,000	$2.50	4d	1	1.27mi
1153 2nd St N Birmingham, AL	3.0	1.0	1056	$1,150	$1.09	20d	1	1.27mi
3601 Norwood Blvd Birmingham, AL	3.0	2.0	1558	$1,323	$0.85	4d	1	1.27mi
1515 36th Pl N Birmingham, AL	3.0	2.0	1204	$1,273	$1.06	44d	1	1.38mi
2400 1st Ave S Birmingham, AL	2.0	1.0–2.0	824	$1,968	$2.39	2d	29	1.42mi
2000 2nd Ave S Birmingham, AL	2.0	1.0–2.0	980	$2,419	$2.47	4d	27	1.47mi
1625 29th Ave N Birmingham, AL	3.0	2.0	1140	$1,200	$1.05	17d	1	1.49mi
1701 1st Ave S Birmingham, AL	1.0–2.0	1.0–2.0	889	$2,506	$2.82	3d	21	1.50mi

Listing history 4 events

1. 2026-05-19
   status Pending 784-char remark

   Show marketing remark (784 chars)

   Investor special in the heart of Druid Hills! This property is ready for a FULL renovation and offers endless potential for the right buyer with vision. Situated on a great corner lot in an established neighborhood, this home is a blank canvas—perfect for a complete remodel, flip, or long-term investment. Property will require significant repairs and is being sold as-is, where-is. Ideal for experienced investors or contractors looking to bring new life into a home with solid upside potential. Conveniently located near downtown, Coca Cola Amphitheatre, interstates, and local amenities, making it a prime candidate for future value. Bring your vision, your contractor, and your plans—this is your opportunity to be part of the revitalization taking place in the area.

2. 2026-05-12
   status Active 784-char remark

   Show marketing remark (784 chars)

   Investor special in the heart of Druid Hills! This property is ready for a FULL renovation and offers endless potential for the right buyer with vision. Situated on a great corner lot in an established neighborhood, this home is a blank canvas—perfect for a complete remodel, flip, or long-term investment. Property will require significant repairs and is being sold as-is, where-is. Ideal for experienced investors or contractors looking to bring new life into a home with solid upside potential. Conveniently located near downtown, Coca Cola Amphitheatre, interstates, and local amenities, making it a prime candidate for future value. Bring your vision, your contractor, and your plans—this is your opportunity to be part of the revitalization taking place in the area.

3. 2026-04-22
   status Pending 784-char remark

   Show marketing remark (784 chars)

   Investor special in the heart of Druid Hills! This property is ready for a FULL renovation and offers endless potential for the right buyer with vision. Situated on a great corner lot in an established neighborhood, this home is a blank canvas—perfect for a complete remodel, flip, or long-term investment. Property will require significant repairs and is being sold as-is, where-is. Ideal for experienced investors or contractors looking to bring new life into a home with solid upside potential. Conveniently located near downtown, Coca Cola Amphitheatre, interstates, and local amenities, making it a prime candidate for future value. Bring your vision, your contractor, and your plans—this is your opportunity to be part of the revitalization taking place in the area.

4. 2026-04-16
   listed $79,000 Active 784-char remark

   Show marketing remark (784 chars)

   Investor special in the heart of Druid Hills! This property is ready for a FULL renovation and offers endless potential for the right buyer with vision. Situated on a great corner lot in an established neighborhood, this home is a blank canvas—perfect for a complete remodel, flip, or long-term investment. Property will require significant repairs and is being sold as-is, where-is. Ideal for experienced investors or contractors looking to bring new life into a home with solid upside potential. Conveniently located near downtown, Coca Cola Amphitheatre, interstates, and local amenities, making it a prime candidate for future value. Bring your vision, your contractor, and your plans—this is your opportunity to be part of the revitalization taking place in the area.

ⓘ 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: $960 · $80/mo
• Projected year-2 tax: $960 · $80/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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,797
• − Mortgage interest: −$4,425
• − Property taxes: −$960
• − Insurance: −$395
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$2,298
• Taxable income: $6,031
• Est. tax owed @ 24.0%: −$1,447
• After-tax cash flow: $5,496/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
• City population: 210,422
• Population (ZIP): 3,828

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 (80%)
• Race & ethnicity: Black 80% White 15% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -9.89%
• Current HPI: 250.4724
• Rent YoY: —
• Metro: —
• 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

4 events — show timeline

• 2026-05-19 Pending — Greater Alabama MLS
• 2026-05-12 Relisted — Greater Alabama MLS
• 2026-04-22 Pending — Greater Alabama MLS
• 2026-04-16 Listed $79,000 Greater Alabama MLS

Property tax history

+1.2%/yr

Latest (2025): $960 · +0.0% YoY. Source: county tax records.