300 20th St N #405 · Birmingham, AL 35203

$335,000

1 bd · 32.0 ba · 30,000 sqft · Condo public records · 120 Days on market

Built 1912 Excellent condition $11/sqft · 97% below area Est $424k · 21% under $294/mo HOA · 20% of rent

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Appreciation +4.8/10.0
• Condition / age +4.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Cash flow +0.5/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

The Blachs is a newly renovated development - offering the historic charm with all the modern updates you'll love! Don't miss the opportunity to be in center of the theater and financial district downtown, within a stones thrown to 30 restaurants. The OPEN LIVING/KITCHEN area has LARGE WINDOWS overlooking treelined 3rd Ave N. The unit includes a walk in closet in the bedroom, laundry room, and pantry. The over 12ft CEILINGS, RESTORED original HARDWOODS, exposed ductwork, jasper QUARTZ COUNTERTOPS in the kitchens and bathrooms, NEW STAINLESS STEEL APPLIANCES, gorgeous open kitchen shelving, and brushed bronze fixtures! The Blachs offers a ROOFTOP TERRACE with more SWEEPING VIEWS of downtown, controlled access to the building and storage units, and designated parking. On-site agents are available for building tours and showings 7 DAYS A WEEK!

Key facts

• $294 HOA
• Built 1912
• Listed 119 days

What this means for you Summary

Snapshot

• This is a 1-bed/32.0-bath condo listed at $335k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (63.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (56.6% below list).
• Recommended offer: $124k (63.1% below list) — sets the bar for cash-flow.
• Cap rate 1.1% vs local median 6.1% in Birmingham — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: George Washington Carver High School (math 2% / reading 17%, grade F, #252 of 305 statewide, top 84%, 531 students, 87% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: 48 active listings in the ZIP; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 37% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($2k loan paydown + $-1k appreciation (-0.3% local appreciation)).
• 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 120 days — a 9% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago 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: HOA is 20% of rent; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,702 (63.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 63% concession, seller financing, or rate buy-down credit?
3. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.43% ✗
• Cap rate: 1.06%
• Cash-on-cash: -18.68%
• DSCR: 0.17
• GRM: 19.2

CMA / ARV

• ARV (median comp): $423,932
• List price: $335,000
• Delta: -20.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -25.9%
• Equity multiple: -0.15×
• Total profit: $-107,582
• Equity at exit: $91,974

10-year hold

• IRR: -19.1%
• Equity multiple: -0.86×
• Total profit: $-174,211
• Equity at exit: $106,413

Cash invested: $93,800 (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 35203

• Home prices YoY: -0.2%
• Active inventory: 48
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $1,454 medium
• Mortgage (P&I): −$1,757
• Tax est. 1.5%: −$419 /mo · $5,025/yr
• Insurance: −$140
• HOA: −$294
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $-1,460

Break-even live

Break-even rent $3,303

Max offer price $123,702

Occupancy floor —

Sensitivity live

Price	-10% $-1,229	-5% $-1,344	+0% $-1,460	+5% $-1,576	+10% $-1,692
Rent	-10% $-1,575	-5% $-1,518	+0% $-1,460	+5% $-1,403	+10% $-1,345
Rate	-1.0pp $-1,292	-0.5pp $-1,375	base $-1,460	+0.5pp $-1,547	+1.0pp $-1,635

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: $83,750
• Closing costs: $10,050
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Located in Downtown Loft DistrictDirections: NW corner of 20th Street N and 3rd Ave N across from Roly Poly and beside FedEx Building; street parking on 3rd Ave N between 19th and 20th St or FedEx lot at 20th St and 4th Ave N
• Financial info: Association fee amount listed (monthly)Down payment assistance available
• HOA & community: Monthly condo association feeAssociation fee covers garbage collection, common grounds maintenance, building insurance, management fee, pest control, reserve for improvements, and utilities for common areasGarbage fee included

Exterior

• Parking: On-street parking available
• Utilities: Public waterConnected sewerUnderground utilitiesInternet service availability
• Home design: Condo unit (Unit 405)Four-story building level indicatedExisting construction4-side brick construction
• Construction: Slab foundation4-side brick exterior
• Exterior features: Open deckCity viewNo pool, patio, or garden listedNot waterfront

Interior

• Kitchen: Stone countertopsDishwasher (built-in)DisposalIce maker (built-in)Electric ovenElectric stoveRefrigeratorSome stainless appliances
• Bedrooms: One bedroom on the main level
• Flooring: Hardwood floorsTile flooring
• Bathrooms: One full bathroom with tub/shower comboLinen closet in bath area
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: 9 ft. + ceilingsOne wood-burning masonry fireplace in the living roomNo additional interior features listed
• Laundry & utility: Main level laundry roomWasher hookup providedElectric dryer hookupWater heater: Electric

HOA detail $294/mo · $3,528/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $335,000 Active 120 DOM
2. 2026-08-07
   days on market $335,000 Active 119 DOM
3. 2026-08-06
   days on market $335,000 Active 118 DOM
4. 2026-08-05
   days on market $335,000 Active 117 DOM
5. 2026-08-04
   days on market $335,000 Active 116 DOM
6. 2026-08-03
   days on market $335,000 Active 115 DOM
7. 2026-07-31
   days on market $335,000 Active 112 DOM
8. 2026-07-30
   days on market $335,000 Active 111 DOM
9. 2026-07-30
   days on market $335,000 Active 110 DOM
10. 2026-07-28
    days on market $335,000 Active 109 DOM
11. 2026-07-26
    days on market $335,000 Active 107 DOM
12. 2026-07-24
    days on market $335,000 Active 105 DOM
13. 2026-07-23
    days on market $335,000 Active 104 DOM
14. 2026-07-22
    days on market $335,000 Active 103 DOM
15. 2026-07-21
    days on market $335,000 Active 102 DOM
16. 2026-07-20
    days on market $335,000 Active 101 DOM
17. 2026-07-19
    days on market $335,000 Active 99 DOM
18. 2026-07-18
    days on market $335,000 Active 98 DOM
19. 2026-07-16
    days on market $335,000 Active 97 DOM
20. 2026-07-15
    days on market $335,000 Active 96 DOM
21. 2026-07-14
    days on market $335,000 Active 95 DOM
22. 2026-07-13
    days on market $335,000 Active 94 DOM
23. 2026-07-13
    days on market $335,000 Active 93 DOM
24. 2026-07-11
    days on market $335,000 Active 92 DOM
25. 2026-07-10
    days on market $335,000 Active 91 DOM
26. 2026-07-09
    days on market $335,000 Active 90 DOM
27. 2026-07-07
    days on market $335,000 Active 88 DOM
28. 2026-07-06
    days on market $335,000 Active 87 DOM
29. 2026-07-05
    days on market $335,000 Active 86 DOM
30. 2026-07-03
    days on market $335,000 Active 84 DOM
31. 2026-07-02
    days on market $335,000 Active 83 DOM
32. 2026-07-01
    days on market $335,000 Active 82 DOM
33. 2026-06-30
    days on market $335,000 Active 81 DOM
34. 2026-06-29
    days on market $335,000 Active 80 DOM
35. 2026-06-28
    days on market $335,000 Active 79 DOM
36. 2026-06-27
    days on market $335,000 Active 78 DOM
37. 2026-06-27
    days on market $335,000 Active 77 DOM
38. 2026-06-25
    days on market $335,000 Active 75 DOM
39. 2026-06-22
    days on market $335,000 Active 73 DOM
40. 2026-06-21
    days on market $335,000 Active 72 DOM
41. 2026-06-18
    days on market $335,000 Active 69 DOM
42. 2026-06-17
    days on market $335,000 Active 68 DOM
43. 2026-06-16
    days on market $335,000 Active 67 DOM
44. 2026-06-15
    days on market $335,000 Active 66 DOM
45. 2026-06-13
    days on market $335,000 Active 64 DOM
46. 2026-06-10
    days on market $335,000 Active 61 DOM
47. 2026-06-09
    days on market $335,000 Active 60 DOM
48. 2026-06-08
    days on market $335,000 Active 59 DOM
49. 2026-06-07
    days on market $335,000 Active 58 DOM
50. 2026-06-03
    days on market $335,000 Active 54 DOM

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

Taxation est. · year 1

• Rental income: $17,451
• − Mortgage interest: −$18,765
• − Property taxes: −$5,025
• − Insurance: −$1,675
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − HOA: −$3,528
• − Depreciation: −$9,745
• Taxable loss: −$24,080
• Est. tax savings @ 24.0%: +$5,779
• After-tax cash flow: $-11,744/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 · 13 photos

Excellent 95/100 None rehab

This top-floor unit in the Blachs Building offers stunning downtown views and modern updates, making it an ideal choice for both resale and rental.

Value-add opportunities

• Both Rooftop terrace — 360-degree views, comfortable lounging ↑
• Both Landscaping — enhances curb appeal and adds greenery ↑

F Composite school gradezoned avg 25/100

Zoned Schools

Elementary Phillips Academy F AL #243/627 Nat'l #19,648/41,679 High George Washington Carver High School F AL #252/305 Nat'l #16,463/17,239

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

C Composite livability gradescore 67/100

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 · 669,185 people
• City population: 210,422
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 3,506
• Household income: $47,434
• Rent vs Own: 70.3% rent · 29.7% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 49% White 43% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Slovak 3% Italian 2% Scotch-Irish 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

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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: ▼ -0.32%
• Current HPI: 187.0483
• Rent YoY: —
• Metro: Birmingham-Hoover, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Property features AI

Finance

• Other: Located in Downtown Loft DistrictDirections: NW corner of 20th Street N and 3rd Ave N across from Roly Poly and beside FedEx Building; street parking on 3rd Ave N between 19th and 20th St or FedEx lot at 20th St and 4th Ave N
• Financial info: Association fee amount listed (monthly)Down payment assistance available
• HOA & community: Monthly condo association feeAssociation fee covers garbage collection, common grounds maintenance, building insurance, management fee, pest control, reserve for improvements, and utilities for common areasGarbage fee included

Exterior

• Parking: On-street parking available
• Utilities: Public waterConnected sewerUnderground utilitiesInternet service availability
• Home design: Condo unit (Unit 405)Four-story building level indicatedExisting construction4-side brick construction
• Construction: Slab foundation4-side brick exterior
• Exterior features: Open deckCity viewNo pool, patio, or garden listedNot waterfront

Interior

• Kitchen: Stone countertopsDishwasher (built-in)DisposalIce maker (built-in)Electric ovenElectric stoveRefrigeratorSome stainless appliances
• Bedrooms: One bedroom on the main level
• Flooring: Hardwood floorsTile flooring
• Bathrooms: One full bathroom with tub/shower comboLinen closet in bath area
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: 9 ft. + ceilingsOne wood-burning masonry fireplace in the living roomNo additional interior features listed
• Laundry & utility: Main level laundry roomWasher hookup providedElectric dryer hookupWater heater: Electric

Price history

+0.0% since first listed

6 events — show timeline

• 2026-04-10 Listed $335,000 Greater Alabama MLS
• 2022-06-22 Price Changed $1,490 RENT.
• 2021-12-13 Sold (MLS) $337,900 Greater Alabama MLS
• 2021-05-26 Delisted — Greater Alabama MLS
• 2021-04-07 Listed — Greater Alabama MLS
• 2021-03-31 Listed $334,900 Greater Alabama MLS

Property tax history

+0.0%/yr

Latest (2021): $26,855 · -50.0% YoY. Source: county tax records.