1106 Woodland Vlg #1106 · Homewood, AL 35216

$175,000

2 bd · 2.0 ba · 1,066 sqft · Condo public records · 1 Days on market

Built 1974

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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 +17.5/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Thoughtfully designed 2-bedroom, 2-bath second-floor condo offering bright, open living spaces with excellent bedroom separation for added privacy. Freshly painted walls and kitchen cabinets create a crisp, updated feel, complemented by updated bathroom lighting fixtures. The well-appointed kitchen features granite countertops, pantry storage, and some stainless steel appliances, including new dishwasher and new range. Enjoy the private balcony overlooking trees, perfect for morning coffee or evening relaxation. Convenient hallway laundry includes washer and dryer, which convey with property. Both bedrooms offer large double closets and adjacent bathrooms. Don't miss the community pool just

Key facts

• Community pool
• Pantry storage
• Private balcony

Tags

• PRIVATE BALCONY
• COMMUNITY POOL
• GRANITE COUNTERTOPS
• PANTRY STORAGE
• STAINLESS STEEL APPLIANCES
• HALLWAY LAUNDRY

Property features AI

Finance

• Other: Unit/lot number 1106; Subdivision: Woodland Village; Driving directions: Hwy 31 South in Homewood to Old Montgomery Hwy; Woodland Village is on the left
• HOA & community: Monthly condo fee of $380; HOA fees cover garbage collection, gas fee, common grounds maintenance, management fee, pest control, sewage service, and water

Exterior

• Parking: Assigned parking; Off-street parking
• Utilities: Public water; Connected sewer; Electric water heater; Ceiling fans; Internet service available
• Home design: Condominium unit (level 2); Vinyl siding; Slab foundation; Existing construction
• Construction: Vinyl siding construction; Slab foundation
• Exterior features: Balcony; Community clubhouse; Community in-ground pool with perimeter fencing

Interior

• Kitchen: Pantry; Dishwasher (built-in); Built-in microwave; Electric oven; Electric stove; Refrigerator; Some stainless appliances; Stone countertops in kitchen
• Bedrooms: Bedrooms located on main level
• Flooring: Hardwood laminate; Tile floors
• Bathrooms: Two full bathrooms; Tub/shower combos
• Heating & cooling: Central heating (gas); Central cooling (electric)
• Interior features: Crown molding; Split bedroom layout; All window treatments remain
• Laundry & utility: Main-level laundry in a closet; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $135 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (3.4% below list).
• Recommended offer: $169k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 2.3% in Homewood — 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 80/100 on livability (#5 in AL, #1,730 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Homewood City (suburban): math 55% / reading 74% proficiency, ranked #3 of 129 in AL (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shades Cahaba Elementary School (math 48% / reading 70%, grade B-, #67 of 627 statewide, top 11%, 501 students, 24% FRL); Homewood High School (math 62% / reading 63%, grade B-, #4 of 305 statewide, top 1%, 1,330 students, 28% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $5k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $75k; list at $175k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $169,076 (3.4% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.97% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.31%
• DSCR: 1.15
• GRM: 8.6

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-20,422
• Equity at exit: $26,093

10-year hold

• IRR: -2.9%
• Equity multiple: 0.81×
• Total profit: $-9,441
• Equity at exit: $15,131

Cash invested: $49,000 (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: 8.6×

Monthly cashflow live

• Estimated rent: $1,691 high
• Mortgage (P&I): −$918
• Tax from tax record: −$210 /mo · $2,519/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $135

Break-even live

Break-even rent $1,520

Max offer price $175,000

Occupancy floor 87%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
616 Woodland Vlg Vestavia Hills, AL	2.0	2.0	1202	$1,600	$1.33	2d	1	0.09mi
153 Old Montgomery Hwy Vestavia Hills, AL	2.0	2.0	992	$1,800	$1.81	2d	1	0.28mi
150 Old Montgomery Hwy Birmingham, AL	2.0	2.0	970	$1,750	$1.80	2d	1	0.29mi
150 Old Montgomery Hwy Unit 1 C Birmingham, AL	2.0	2.0	992	$1,750	$1.76	14d	1	0.29mi
1301 Lakeshore Dr Homewood, AL	3.0	1.0–2.0	1175	$1,460	$1.24	2d	12	0.35mi
1903 Vestavia Ct Vestavia Hills, AL	1.0–3.0	1.0–2.0	1001	$1,395	$1.39	2d	6	0.56mi
3450 Manor Dr Homewood, AL	1.0–2.0	1.0–2.0	1050	$2,179	$2.08	3d	10	0.93mi
3421 Sandner Ct Unit D Homewood, AL	2.0	1.0	864	$1,800	$2.08	44d	1	0.97mi
3425 Sandner Ct Unit D Homewood, AL	2.0	1.0	864	$1,500	$1.74	44d	1	0.98mi
3120 Lancaster Ct Unit A Homewood, AL	1.0	1.0	800	$2,499	$3.12	2d	1	1.17mi
1860 Oxmoor Rd Unit 532 Homewood, AL	2.0	2.0	1118	$3,950	$3.53	3d	1	1.40mi

HOA detail condo

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

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $175,000 Coming Soon 1 DOM

ⓘ 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: $2,519 · $210/mo
• Projected year-2 tax: $2,519 · $210/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 2/10 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: $20,289
• − Mortgage interest: −$9,803
• − Property taxes: −$2,519
• − Insurance: −$875
• − Repairs & maintenance: −$1,623
• − Management: −$1,623
• − Depreciation: −$5,091
• Taxable loss: −$1,244
• Est. tax savings @ 24.0%: +$299
• After-tax cash flow: $1,921/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: Homewood City
• NCES district ID: 0101760
• Math proficiency: 55% ▼ -20.00%
• Reading proficiency: 74% ▲ 6.00%
• Median HH income: $63,366
• Composite: 56.01/100
• National rank: #1189
• State rank: #3 of 129 in AL

Livability — Homewood

• Score: 80/100
• State rank: #5
• US rank: #1730

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homewood, AL
• County: Jefferson County · 527,445 people
• City population: 32,734
• 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

+337.5% since first listed

6 events — show timeline

• 2026-06-17 Coming Soon $175,000 Greater Alabama MLS
• 2003-05-13 Sold (Public Records) $75,000 Public Records
• 2000-06-05 Sold (Public Records) $68,500 Public Records
• 2000-06-05 Sold (Public Records) $68,500 Public Records
• 1999-02-22 Sold (Public Records) $66,000 Public Records
• 1994-05-27 Sold (Public Records) $40,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,519 · +6.9% YoY. Source: county tax records.