2831 Georgetown Dr Unit C · Hoover, AL 35216

$89,900

1 bd · 1.0 ba · 725 sqft · Condo · 23 Days on market

Built 1973 Fair condition

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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 +26.5/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the established Colonial Park community in Hoover, this 1-bedroom, 1-bath condo offers an excellent opportunity for investors, first-time buyers, or anyone looking for affordable living in a prime location. Priced at $89,900, this ground-level unit features a functional layout with a combined living and dining area, a private patio, and convenient in-unit laundry. The condo has been well maintained over the years and is ready for a new owner to make it their own. With its original character and cosmetic updates needed throughout, this property presents great potential to customize and add value. Colonial Park offers a quiet, wooded setting while being conveniently located near sh

Key facts

• Community pool
• Built 1973
• Listed 23 days

Property features AI

Finance

• HOA & community: Monthly condo fee of $300; HOA fees cover common grounds maintenance, building insurance, management fee, and water; Community amenities include clubhouse and swimming allowed

Exterior

• Parking: Assigned parking; Off-street parking
• Utilities: Public water; Connected sewer; Underground utilities; Electric water heater; Internet service availability
• Home design: Condo unit (Unit C), located on level 1; Existing construction
• Construction: Concrete/block construction; Slab foundation
• Exterior features: Community in-ground pool; Covered patio; No waterfront; No garden/patio; No decks

Interior

• Kitchen: Laminate countertops; Dishwasher (built-in); Refrigerator; Electric stove
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Tile flooring
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Electric heating; Central cooling
• Interior features: Ceilings: Other (see remarks); No special interior features listed
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located on the main level; Has laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.4% in Hoover — 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 84/100 on livability (#1 in AL, #630 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• Hoover City (urban): math 45% / reading 66% proficiency, ranked #8 of 129 in AL (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Green Valley Elementary School (math 37% / reading 57%, grade D-, #142 of 627 statewide, top 25%, 476 students, 55% FRL); Hoover High School (math 46% / reading 47%, grade D-, #17 of 305 statewide, top 5%, 2,841 students, 32% FRL) — zoned schools average 44% FRL vs 19% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent is only 18% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 23 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $88,551 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.21% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $222
• Equity at exit: $13,404

10-year hold

• IRR: 9.5%
• Equity multiple: 1.72×
• Total profit: $18,038
• Equity at exit: $7,773

Cash invested: $25,172 (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 35216

• Rents YoY: 2.6%
• Active inventory: 135
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,089 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $239

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 73%

Sensitivity live

Price	-10% $301	-5% $270	+0% $239	+5% $208	+10% $177
Rent	-10% $153	-5% $196	+0% $239	+5% $282	+10% $325
Rate	-1.0pp $284	-0.5pp $262	base $239	+0.5pp $216	+1.0pp $192

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3101 Lorna Rd #1718 Hoover, AL	1.0	1.0	640	$1,095	$1.71	3d	1	0.08mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,137	$1.27	44d	1	0.38mi
2262-2284 Chapel Hill Rd Unit 2262-A Hoover, AL	1.0	1.0	686	$1,074	$1.57	44d	1	0.51mi
2014 Montreat Pkwy Vestavia Hills, AL	1.0	1.0	690	$1,045	$1.51	24d	1	0.64mi
2014 Montreat Pkwy Unit D Vestavia Hills, AL	1.0	1.0	690	$1,045	$1.51	3d	1	0.64mi
3400 Treeline Ct Hoover, AL	1.0–3.0	1.0–2.0	950	$960	$1.01	21d	13	0.92mi
1716 Vestawood Ct Unit 1722C Vestavia Hills, AL	1.0	1.0	697	$1,059	$1.52	44d	1	1.01mi
3565 Lorna Rd Hoover, AL	1.0–3.0	1.0–1.5	975	$775	$0.79	44d	1	1.33mi
2149 Emerald Pointe Dr Birmingham, AL	1.0–3.0	1.0–1.5	885	$899	$1.02	24d	1	1.33mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$899	$0.90	44d	1	1.36mi
3627 Cedarbrook Dr Hoover, AL	1.0–2.0	1.0–2.0	894	$865	$0.97	19d	1	1.47mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $89,900 Active 23 DOM
2. 2026-06-17
   days on market $89,900 Active 22 DOM
3. 2026-06-16
   days on market $89,900 Active 21 DOM
4. 2026-06-15
   days on market $89,900 Active 20 DOM
5. 2026-06-13
   days on market $89,900 Active 18 DOM
6. 2026-06-10
   days on market $89,900 Active 15 DOM
7. 2026-06-09
   days on market $89,900 Active 14 DOM
8. 2026-06-08
   days on market $89,900 Active 13 DOM
9. 2026-06-07
   days on market $89,900 Active 12 DOM
10. 2026-06-05
    days on market $89,900 Active 9 DOM
11. 2026-06-03
    days on market $89,900 Active 8 DOM
12. 2026-06-02
    days on market $89,900 Active 7 DOM
13. 2026-06-01
    days on market $89,900 Active 6 DOM
14. 2026-05-31
    days on market $89,900 Active 5 DOM
15. 2026-05-22
    historical $89,900

ⓘ 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 ≥107°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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,067
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$2,615
• Taxable income: $1,527
• Est. tax owed @ 24.0%: −$367
• After-tax cash flow: $2,501/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.

Condition & rehab AI · 1 photo

Fair 45/100 Cosmetic rehab

This 1-bedroom, 1-bath condo in Hoover, AL, is in fair condition with cosmetic updates needed throughout. Painting and landscaping improvements can significantly enhance its value.

Repairs flagged

• Minor exterior paint — The exterior paint appears faded and could benefit from a fresh coat.
• Minor interior paint — The interior paint appears faded and could benefit from a fresh coat.
• Minor landscaping — The landscaping appears overgrown and could benefit from trimming and maintenance.

Value-add opportunities

• Both painting the exterior and interior — Fresh paint can improve the curb appeal and interior aesthetics, making the property more attractive to buyers and renters.
• Both landscaping — A well-maintained landscape can enhance the property's curb appeal and attract more potential buyers and renters.
• Both minor repairs — Addressing minor repairs can improve the property's condition and make it more attractive to buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · The exterior paint appears faded and could benefit from a fresh coat.	Minor	$500–3,000
interior paint · The interior paint appears faded and could benefit from a fresh coat.	Minor	$500–3,000
landscaping · The landscaping appears overgrown and could benefit from trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both painting the exterior and interior — Fresh paint can improve the curb appeal and interior aesthetics, making the property more attractive to buyers and renters. ↑
• Both landscaping — A well-maintained landscape can enhance the property's curb appeal and attract more potential buyers and renters. ↑
• Both minor repairs — Addressing minor repairs can improve the property's condition and make it more attractive to buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hoover City
• NCES district ID: 0100007
• Math proficiency: 45% ▼ -25.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $76,210
• Composite: 49.77/100
• National rank: #1960
• State rank: #8 of 129 in AL

Livability — Hoover

• Score: 84/100
• State rank: #1
• US rank: #630

Category grades

Amenities B- Commute A- Cost of living C Crime A+ Employment A+ Housing A+ Health & safety C User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hoover, AL
• County: Jefferson County · 527,445 people
• City population: 76,805
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 34,327
• Household income: $74,525
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 1747.0

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 61% Black 24% Hispanic / Latino 8% Asian 5% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Arabic 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: ▼ -259.83%
• Current HPI: 239.8705
• 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

1 event — show timeline

• 2026-05-22 Coming Soon $89,900 Greater Alabama MLS