449 7th St W · Birmingham, AL 35204

$150,000

4 bd · 1.0 ba · 1,686 sqft · MultiFamily public records · 34 Days on market

Built 1948 $89/sqft · 9% above area Est $138k · 9% over

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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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Appreciation +5.3/10.0
• ARV discount +3.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great opportunity Go by at look at the property if interest give us a call.

Key facts

• 4 parking spots
• Built 1948
• Listed 34 days

Property features AI

Finance

• Other: Property in Earle Place subdivision
• Financial info: Expenses listed per month

Exterior

• Parking: Two spaces per unit; On-street parking
• Utilities: Public water; Connected sewer; Electric water heater
• Home design: Existing building; Two-unit (duplex) property
• Construction: Brick and frame construction
• Exterior features: Crawl space foundation; Not in flood plain; Tenant pays all utilities

Interior

• Kitchen: Kitchen with eating area
• Bedrooms: Two 2-bedroom units
• Flooring: Laminate
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Laminate flooring; Eating area in kitchen; Washer/dryer connection
• Laundry & utility: Washer/dryer connection in units; Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive. Per door: $237/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: Hemphill Elementary School (math 5% / reading 24%, grade F, #508 of 627 statewide, top 84%, 336 students, 87% FRL); 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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).
• At $1,890/mo this rent would consume 64% 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 $2k of equity ($1k loan paydown + $962 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 $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.26% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.55%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (median comp): $137,746
• List price: $150,000
• Delta: 8.90%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.5%
• Equity multiple: 1.72×
• Total profit: $30,410
• Equity at exit: $48,425

10-year hold

• IRR: 18.4%
• Equity multiple: 3.15×
• Total profit: $90,439
• Equity at exit: $62,253

Cash invested: $42,000 (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 35204

• Home prices YoY: 0.3%
• Active inventory: 64
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,890 high
• Mortgage (P&I): −$787
• Tax from tax record: −$170 /mo · $2,037/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $474

Break-even live

Break-even rent $1,290

Max offer price $150,000

Occupancy floor 70%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,890
Total (2 units)			$1,890

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 7th St W Birmingham, AL	3.0	1.5	1120	$1,175	$1.05	43d	1	0.14mi
724 4th Ct W Birmingham, AL	3.0	1.0	1300	$930	$0.72	43d	1	0.14mi
827 6th Ave W Birmingham, AL	3.0	1.0	1214	$1,075	$0.89	23d	1	0.21mi
410 8th Ter W Birmingham, AL	3.0	1.0	1440	$1,200	$0.83	15d	1	0.43mi
1101 7th Ave W Birmingham, AL	3.0	1.0	1248	$1,250	$1.00	43d	1	0.45mi
644 Alabama Ave SW Birmingham, AL	3.0	1.0	1274	$1,125	$0.88	23d	1	0.45mi
854 5th St W Birmingham, AL	3.0	1.0	1501	$1,275	$0.85	43d	1	0.46mi
608 Fulton Ave SW Birmingham, AL	3.0	1.0	1271	$1,300	$1.02	43d	1	0.46mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	1d	1	0.49mi
1108 4th Ct W Birmingham, AL	3.0	2.0	1623	$1,125	$0.69	2d	1	0.50mi
915 6th St W Birmingham, AL	3.0	1.0	1332	$1,075	$0.81	43d	1	0.53mi
719 Washington Ave SW Birmingham, AL	3.0	1.0	1064	$950	$0.89	11d	1	0.56mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	43d	1	0.56mi
1230 4th Ter W Birmingham, AL	3.0	2.0	1540	$1,000	$0.65	43d	1	0.65mi
963 3rd St W Birmingham, AL	3.0	2.0	1444	$1,295	$0.90	23d	1	0.72mi
451 2nd St N Birmingham, AL	4.0	3.0	1400	$1,600	$1.14	43d	1	0.82mi
820 McMillon Ave SW Birmingham, AL	5.0	2.0	1795	$1,350	$0.75	43d	1	0.94mi
1532 Graymont Ave W Birmingham, AL	4.0	2.0	1913	$1,150	$0.60	43d	1	0.97mi
1213 Alabama Ave SW Birmingham, AL	4.0	2.0	1616	$1,200	$0.74	43d	1	0.97mi
1012 Cotton Ave SW Birmingham, AL	3.0	1.0	1232	$1,000	$0.81	43d	1	0.97mi
1220 Alabama Ave SW Birmingham, AL	3.0	1.5	1175	$1,350	$1.15	43d	1	0.97mi
1217 Fulton Ave SW Birmingham, AL	4.0	2.0	1397	$1,395	$1.00	43d	1	1.02mi
1701 4th Ter W Birmingham, AL	4.0	2.5	1977	$1,550	$0.78	23d	1	1.02mi
1621 2nd Ct W Birmingham, AL	3.0	1.0	1074	$1,095	$1.02	43d	1	1.04mi
1642 Graymont Ave W Birmingham, AL	3.0	1.0	1219	$1,090	$0.89	2d	1	1.12mi
3113 Pike Rd Birmingham, AL	3.0	2.0	1143	$1,275	$1.12	43d	1	1.14mi
2920 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1800	$1,050	$0.58	23d	1	1.17mi
451 2nd Ave N Birmingham, AL	4.0	3.0	1400	$1,600	$1.14	23d	1	1.17mi
2309 Eufaula Ave Birmingham, AL	4.0	2.0	1454	$1,395	$0.96	23d	1	1.20mi
1437 Woodland Ave SW Birmingham, AL	3.0	1.0	1369	$1,100	$0.80	3d	1	1.22mi
2304 Eufaula Ave Birmingham, AL	3.0	1.0	1381	$980	$0.71	43d	1	1.23mi
1153 2nd St N Birmingham, AL	3.0	1.0	1056	$1,150	$1.09	19d	1	1.27mi
12 4th Ave SW Unit 1 Birmingham, AL	3.0	1.0	1336	$1,100	$0.82	43d	1	1.28mi
1501 Princeton Ave SW Birmingham, AL	3.0	2.0	1260	$1,350	$1.07	44d	1	1.35mi
1720 Cullman Ave Unit 3 Birmingham, AL	3.0	2.0	1174	$950	$0.81	43d	1	1.37mi
1720 Cullman Ave Unit 2 Birmingham, AL	3.0	1.0	1174	$899	$0.77	21d	1	1.37mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1350	$1,500	$1.11	3d	1	1.41mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1692	$1,500	$0.89	19d	1	1.41mi
1216 4th Pl N Birmingham, AL	3.0	2.0	1565	$1,150	$0.73	43d	1	1.43mi
2712 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1232	$1,099	$0.89	23d	1	1.44mi

Listing history 22 events

1. 2026-06-18
   days on market $150,000 Active 34 DOM
2. 2026-06-17
   days on market $150,000 Active 33 DOM
3. 2026-06-16
   days on market $150,000 Active 32 DOM
4. 2026-06-15
   days on market $150,000 Active 31 DOM
5. 2026-06-13
   days on market $150,000 Active 29 DOM
6. 2026-06-10
   days on market $150,000 Active 26 DOM
7. 2026-06-09
   days on market $150,000 Active 25 DOM
8. 2026-06-08
   days on market $150,000 Active 24 DOM
9. 2026-06-07
   days on market $150,000 Active 23 DOM
10. 2026-06-03
    days on market $150,000 Active 19 DOM
11. 2026-06-02
    days on market $150,000 Active 18 DOM
12. 2026-06-01
    days on market $150,000 Active 17 DOM
13. 2026-05-31
    days on market $150,000 Active 16 DOM
14. 2026-05-15
    listed $150,000 Active 193-char remark
15. 2023-09-13
    soldstatus $138,000
16. 2022-06-06
    soldstatus $100,000
17. 2020-12-28
    soldstatus $25,000
18. 2020-12-15
    soldstatus $25,000 Sold 75-char remark

    Show marketing remark (75 chars)

    Great opportunity Go by at look at the property if interest give us a call.

19. 2020-12-01
    status Pending 75-char remark

    Show marketing remark (75 chars)

    Great opportunity Go by at look at the property if interest give us a call.

20. 2020-10-30
    listed $28,500 Active 75-char remark

    Show marketing remark (75 chars)

    Great opportunity Go by at look at the property if interest give us a call.

21. 1997-12-11
    soldstatus $1,000
22. 1978-04-01
    soldstatus $24,700

ⓘ 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: $2,037 · $170/mo
• Projected year-2 tax: $2,037 · $170/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 7/10 Severe 7 d/yr ≥106°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 · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,680
• − Mortgage interest: −$8,402
• − Property taxes: −$2,037
• − Insurance: −$750
• − Repairs & maintenance: −$1,814
• − Management: −$1,814
• − Depreciation: −$4,364
• Taxable income: $3,498
• Est. tax owed @ 24.0%: −$840
• After-tax cash flow: $4,851/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

+507.3% since first listed

9 events — show timeline

• 2026-05-15 Listed $150,000 Greater Alabama MLS
• 2023-09-13 Sold (Public Records) $138,000 Public Records
• 2022-06-06 Sold (Public Records) $100,000 Public Records
• 2020-12-28 Sold (Public Records) $25,000 Public Records
• 2020-12-15 Sold (MLS) $25,000 Greater Alabama MLS
• 2020-12-01 Pending — Greater Alabama MLS
• 2020-10-30 Listed $28,500 Greater Alabama MLS
• 1997-12-11 Sold (Public Records) $1,000 Public Records
• 1978-04-01 Sold (Public Records) $24,700 Public Records

Property tax history

+13.4%/yr

Latest (2025): $2,037 · +0.0% YoY. Source: county tax records.