533 10th Ct W · Birmingham, AL 35204

$38,000

3 bd · 2.0 ba · 2,967 sqft · SingleFamily public records · 12 Days on market

Built 1949 0.32 ac lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• 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

Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

Key facts

• 0.32 acre lot
• Built 1949
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Cap rate 28.5% 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-, crime F, employment 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.
• Zoned schools: Parker High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 826 students, 90% FRL).
• Market conditions: 64 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• At $1,339/mo this rent would consume 45% 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 $507 of equity ($263 loan paydown + $244 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $17k; list at $38k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,000

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.52% ✓
• Cap rate: 28.45%
• Cash-on-cash: 79.14%
• DSCR: 4.52
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $151,317
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
910 7th St W	0.21mi	4/3.0 (+1)	2,944 (-1%)	20mo	$229,900	$78	64
924 6th St W	0.15mi	2/1.0 (-1)	2,640 (-11%)	8mo	$125,000	$47	59
1025 7th Pl	0.20mi	4/4.5 (+1)	2,748 (-7%)	19mo	$250,000	$91	47
101 10th Ave W	0.43mi	4/3.0 (+1)	2,581 (-13%)	8mo	$110,000	$43	43
17 11th Ct W	0.53mi	4/3.0 (+1)	2,856 (-4%)	23mo	$146,000	$51	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 81.9%
• Equity multiple: 5.21×
• Total profit: $44,819
• Equity at exit: $12,268

10-year hold

• IRR: 83.0%
• Equity multiple: 10.70×
• Total profit: $103,225
• Equity at exit: $15,771

Cash invested: $10,640 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,339 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$141 /mo · $1,692/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $702

Break-even live

Break-even rent $451

Max offer price $38,000

Occupancy floor 43%

Sensitivity live

Price	-10% $723	-5% $712	+0% $702	+5% $691	+10% $680
Rent	-10% $596	-5% $649	+0% $702	+5% $755	+10% $808
Rate	-1.0pp $721	-0.5pp $711	base $702	+0.5pp $692	+1.0pp $682

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1701 4th Ter W Birmingham, AL	4.0	2.5	1977	$1,550	$0.78	24d	1	1.37mi

Listing history 11 events

1. 2026-03-09
   status Pending
2. 2026-03-04
   price $38,000
3. 2026-02-25
   listed $40,000 Active
4. 2017-11-17
   soldstatus $17,000 Sold 284-char remark

   Show marketing remark (284 chars)

   Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

5. 2017-11-07
   historical 284-char remark

   Show marketing remark (284 chars)

   Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

6. 2017-10-28
   historical Contingent 284-char remark

   Show marketing remark (284 chars)

   Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

7. 2017-09-01
   price $19,900 284-char remark

   Show marketing remark (284 chars)

   Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

8. 2017-08-15
   price $22,900 284-char remark

   Show marketing remark (284 chars)

   Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

9. 2017-08-14
   status Active 284-char remark

   Show marketing remark (284 chars)

   Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

10. 2017-07-31
    historical Contingent 284-char remark

    Show marketing remark (284 chars)

    Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

11. 2017-05-16
    listed $24,900 Active 284-char remark

    Show marketing remark (284 chars)

    Brick home close to Birmingham Southern. 3 bedrooms, kitchen, dining room, living room and full bath on main level. Finished basement apartment with bedroom, den , bath and kitchenette area. Needs some repairs and TLC. Buyer to verify all items of importance. Sold "As-Is".

ⓘ 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: $1,692 · $141/mo
• Projected year-2 tax: $1,692 · $141/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 6 d/yr ≥106°F today · 16 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: $16,069
• − Mortgage interest: −$2,129
• − Property taxes: −$1,692
• − Insurance: −$190
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$1,105
• Taxable income: $8,381
• Est. tax owed @ 24.0%: −$2,012
• After-tax cash flow: $6,409/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

+52.6% since first listed

11 events — show timeline

• 2026-03-09 Pending — Greater Alabama MLS
• 2026-03-04 Price Changed $38,000 Greater Alabama MLS
• 2026-02-25 Listed $40,000 Greater Alabama MLS
• 2017-11-17 Sold (MLS) $17,000 Greater Alabama MLS
• 2017-11-07 Delisted — Greater Alabama MLS
• 2017-10-28 Contingent — Greater Alabama MLS
• 2017-09-01 Price Changed $19,900 Greater Alabama MLS
• 2017-08-15 Price Changed $22,900 Greater Alabama MLS
• 2017-08-14 Relisted — Greater Alabama MLS
• 2017-07-31 Contingent — Greater Alabama MLS
• 2017-05-16 Listed $24,900 Greater Alabama MLS

Property tax history

+3.6%/yr

Latest (2025): $1,692 · +0.0% YoY. Source: county tax records.