3201 Avenue · Birmingham, AL 35208

$35,000

2 bd · 1.0 ba · 952 sqft · SingleFamily public records · 63 Days on market

Built 1950 6,969 sqft lot $37/sqft · 39% below area Est $59k · 41% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Investor's special. Corner lot. perfect for an investor who is looking to add on or start their rental portfolio.

Key facts

• Corner lot
• 6,969 sq ft lot
• Built 1950

Tags

• CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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 lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 31% 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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.80% ✓
• Cap rate: 24.56%
• Cash-on-cash: 65.25%
• DSCR: 3.90
• GRM: 3.0

CMA / ARV

• ARV (median comp): $59,365
• List price: $35,000
• Delta: -41.04%
• 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
2136 47th St W	0.37mi	2/1.0	892 (-6%)	4mo	$12,000	$13	69
1541 30th Street Ensley	0.42mi	3/1.0 (+1)	928 (-2%)	6mo	$5,999	$6	67
1516 32nd St	0.46mi	2/1.0	1,028 (+8%)	4mo	$57,000	$55	62
1429 33rd Street Ensley	0.56mi	2/1.0	1,016 (+7%)	2mo	$45,000	$44	61
1529 30th St	0.46mi	2/1.0	843 (-11%)	1mo	$65,000	$77	58
1428 35th St	0.58mi	2/1.0	930 (-2%)	13mo	$75,061	$81	58
2301 27th St	0.44mi	2/1.0	917 (-4%)	23mo	$53,000	$58	54
2915 Avenue X	0.40mi	2/1.0	996 (+5%)	24mo	$66,000	$66	54
1805 34th St	0.19mi	3/2.0 (+1)	1,088 (+14%)	10mo	$147,500	$136	50
1745 33rd St	0.17mi	3/2.0 (+1)	1,081 (+14%)	21mo	$58,000	$54	43
1540 35th St	0.44mi	2/1.5	1,078 (+13%)	21mo	$125,000	$116	38
1433 35th St	0.58mi	3/1.0 (+1)	1,059 (+11%)	15mo	$119,900	$113	36

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: 69.2%
• Equity multiple: 4.33×
• Total profit: $32,644
• Equity at exit: $5,219

10-year hold

• IRR: 74.6%
• Equity multiple: 10.36×
• Total profit: $91,725
• Equity at exit: $3,026

Cash invested: $9,800 (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: 3.0×

Monthly cashflow live

• Estimated rent: $981 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $533

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 41%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3012 Avenue X Unit C Birmingham, AL	3.0	1.0	620	$650	$1.05	12d	1	0.39mi
2329 30th Street Ensley Birmingham, AL	2.0	1.0	917	$990	$1.08	24d	1	0.40mi
1616 28th Street Ensley Birmingham, AL	3.0	1.0	1081	$1,100	$1.02	44d	1	0.43mi
1532 31st Street Ensley Birmingham, AL	2.0	1.0	839	$850	$1.01	44d	1	0.43mi
2037 26th Street Ensley Birmingham, AL	3.0	1.0	1074	$995	$0.93	44d	1	0.43mi
1528 34th Street Ensley Birmingham, AL	3.0	2.0	972	$1,073	$1.10	44d	1	0.44mi
2421 29th Street Ensley Unit C Birmingham, AL	2.0	1.0	950	$703	$0.74	24d	1	0.46mi
2610 Avenue P Birmingham, AL	3.0	2.0	1014	$850	$0.84	44d	1	0.54mi
1521 27th Street Ensley Birmingham, AL	3.0	2.0	1120	$1,000	$0.89	44d	1	0.54mi
1501 29th Street Ensley Birmingham, AL	2.0	1.0	772	$800	$1.04	24d	1	0.54mi
1520 41st Street Ensley Birmingham, AL	3.0	2.0	1068	$1,195	$1.12	44d	1	0.55mi
1540 42nd Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	899	$1,037	$1.15	44d	1	0.56mi
1609 Pike Rd Birmingham, AL	2.0	1.5	820	$800	$0.98	19d	5	0.56mi
1417 34th Street Ensley Birmingham, AL	3.0	1.0	1103	$1,025	$0.93	44d	1	0.59mi
4813 Court S Birmingham, AL	3.0	2.0	1118	$1,125	$1.01	44d	1	0.60mi
1429 Warrior Rd Birmingham, AL	3.0	1.0	1036	$850	$0.82	16d	1	0.61mi
1420 Warrior Rd Birmingham, AL	3.0	1.0	1061	$1,050	$0.99	44d	1	0.62mi
1604 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1100	$1,200	$1.09	24d	1	0.64mi
4724 Court R Birmingham, AL	2.0	1.0	1016	$895	$0.88	15d	1	0.67mi
1306 35th Street Ensley Birmingham, AL	3.0	2.0	1100	$1,173	$1.07	3d	1	0.70mi
1521 22nd Street Ensley Unit B Birmingham, AL	2.0	1.0	750	$875	$1.17	24d	1	0.76mi
1933 Saint Charles Ct SW Birmingham, AL	3.0	1.0	1106	$1,050	$0.95	24d	1	0.83mi
4929 Avenue R Unit R Birmingham, AL	2.0	1.0	962	$950	$0.99	44d	1	0.89mi
1429 47th Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	768	$750	$0.98	44d	1	0.92mi
208 22nd St SW Birmingham, AL	2.0	1.0	926	$1,050	$1.13	3d	1	0.94mi
2621 20th Street Ensley Birmingham, AL	3.0	1.0	1117	$1,295	$1.16	44d	1	0.98mi
2028 Lee Ter SW Birmingham, AL	2.0	1.0	884	$695	$0.79	44d	1	0.98mi
1001 21st Street Ensley Unit B Birmingham, AL	2.0	1.0	700	$725	$1.04	16d	1	0.98mi
1624 19th Street Ensley Apt B Birmingham, AL	2.0	1.0	676	$875	$1.29	24d	1	0.99mi
1781 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1069	$950	$0.89	44d	1	0.99mi
132 17th St SW Birmingham, AL	2.0	1.0	738	$945	$1.28	44d	1	1.01mi
2519 Saint Charles Ave SW Birmingham, AL	2.0	1.0	990	$975	$0.98	44d	1	1.05mi
2216 Lee Ave SW Birmingham, AL	3.0	1.0	902	$900	$1.00	24d	1	1.06mi
1316 Court R Birmingham, AL	3.0	1.0	904	$900	$1.00	10d	1	1.06mi
5211 Ter Q Unit Q Birmingham, AL	2.0	1.0	756	$775	$1.03	44d	1	1.06mi
2661 Bush Blvd Birmingham, AL	3.0	2.0	1024	$1,200	$1.17	44d	1	1.08mi
5219 Court Q Birmingham, AL	3.0	2.0	1082	$1,200	$1.11	19d	1	1.08mi
2916 24th Street Ensley Birmingham, AL	2.0	1.0	850	$590	$0.69	24d	1	1.11mi
1306 Avenue R Unit R Birmingham, AL	3.0	1.0	980	$950	$0.97	44d	1	1.12mi
1306 Avenue R Unit R Birmingham, AL	3.0	1.0	980	$950	$0.97	3d	1	1.12mi

Listing history 17 events

1. 2026-06-18
   days on market $35,000 Active 63 DOM
2. 2026-06-17
   days on market $35,000 Active 62 DOM
3. 2026-06-16
   days on market $35,000 Active 61 DOM
4. 2026-06-15
   days on market $35,000 Active 60 DOM
5. 2026-06-13
   days on market $35,000 Active 58 DOM
6. 2026-06-10
   days on market $35,000 Active 55 DOM
7. 2026-06-09
   days on market $35,000 Active 54 DOM
8. 2026-06-08
   days on market $35,000 Active 53 DOM
9. 2026-06-07
   remarks 163-char remark
10. 2026-06-07
    days on market $35,000 Active 52 DOM
11. 2026-06-03
    days on market $35,000 Active 48 DOM
12. 2026-06-02
    days on market $35,000 Active 47 DOM
13. 2026-06-01
    days on market $35,000 Active 46 DOM
14. 2026-05-31
    days on market $35,000 Active 45 DOM
15. 2026-04-14
    listed $35,000 Active 113-char remark

    Show marketing remark (113 chars)

    Investor's special. Corner lot. perfect for an investor who is looking to add on or start their rental portfolio.

16. 2011-07-20
    soldstatus $43,000
17. 1980-12-05
    soldstatus $26,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $11,768
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$1,018
• Taxable income: $6,207
• Est. tax owed @ 24.0%: −$1,490
• After-tax cash flow: $4,905/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

+30.1% since first listed

3 events — show timeline

• 2026-04-14 Listed $35,000 Greater Alabama MLS
• 2011-07-20 Sold (Public Records) $43,000 Public Records
• 1980-12-05 Sold (Public Records) $26,900 Public Records