2424 Mallard Dr #2424 · Hoover, AL 35216

$68,500

2 bd · 2.0 ba · 1,053 sqft · Condo · 104 Days on market

Built 1978 Good condition $65/sqft · 57% below area ↓ 28% since listing

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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
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Yes ! You read this right, a 2 bedroom, 2 bathroom Condo at $72,500. Has potential with the buyer's touches. Fire[lace in the family room with high celings Kitchen features solid surface countertops. 2 car garage, that has lots of storage. There is a community pool. Look around and note the improvements being made to the complex.

Key facts

• Community pool
• 2 garage spots
• Community pool

Tags

• FIREPLACE IN THE FAMILY ROOM
• SOLID SURFACE COUNTERTOPS
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $68k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $62k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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+.
• Jefferson County (suburban): math 9% / reading 32% proficiency, ranked #104 of 129 in AL (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 17 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 $474 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $62,335 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.98% ✓
• Cap rate: 16.80%
• Cash-on-cash: 37.51%
• DSCR: 2.67
• GRM: 4.2

CMA / ARV

• ARV (median comp): $157,555
• List price: $68,500
• Delta: -56.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 33.0%
• Equity multiple: 2.38×
• Total profit: $26,552
• Equity at exit: $10,214

10-year hold

• IRR: 39.8%
• Equity multiple: 4.66×
• Total profit: $70,108
• Equity at exit: $5,923

Cash invested: $19,180 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,358 high
• Mortgage (P&I): −$359
• Tax est. 1.5%: −$86 /mo · $1,028/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $600

Break-even live

Break-even rent $599

Max offer price $68,500

Occupancy floor 51%

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: $17,125
• Closing costs: $2,055
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3741 Chestnut Ridge Ln Vestavia Hills, AL	1.0–3.0	1.0–2.0	1450	$1,232	$0.85	1d	61	0.63mi
3400 Chestnut Ridge Ln Birmingham, AL	2.0–3.0	2.0	1263	$1,389	$1.10	1d	8	0.67mi
2149 Emerald Pointe Dr Birmingham, AL	1.0–3.0	1.0–1.5	885	$1,074	$1.21	23d	1	0.69mi
4248 Ashwood Cv Vestavia Hills, AL	3.0	2.5	1428	$1,850	$1.30	2d	1	0.69mi
3411 Cedar Crest Cir Hoover, AL	3.0	2.5	1336	$2,150	$1.61	1d	1	0.73mi
601 Wildbrook Ln Hoover, AL	1.0–3.0	1.0–2.0	1340	$1,200	$0.90	1d	4	0.79mi
1000 Autumn Wood Dr Birmingham, AL	1.0–2.0	1.0–2.0	880	$1,230	$1.40	2d	12	0.82mi
6100 Rime Village Dr E Vestavia Hills, AL	1.0–2.0	1.5–2.0	1307	$1,446	$1.11	1d	10	0.86mi
2139 Rocky Ridge Ranch Rd Hoover, AL	1.0–3.0	1.0–2.0	1044	$1,249	$1.20	1d	4	0.95mi
3627 Cedarbrook Dr Hoover, AL	1.0–2.0	1.0–2.0	894	$1,070	$1.20	19d	1	1.09mi
3565 Lorna Rd Hoover, AL	1.0–3.0	1.0–1.5	975	$938	$0.96	43d	1	1.13mi
990 Wisteria Pl Birmingham, AL	3.0	2.0	1450	$1,620	$1.12	1d	3	1.17mi
2135 Centennial Dr Birmingham, AL	3.0	1.0–2.0	955	$1,066	$1.12	1d	21	1.18mi
2071 Alpine Vlg Birmingham, AL	1.0–3.0	1.0–2.0	1000	$1,010	$1.01	2d	9	1.27mi
200 River Haven Ln Hoover, AL	1.0–3.0	1.5–2.5	1485	$1,470	$0.99	1d	32	1.35mi
3400 Treeline Ct Hoover, AL	1.0–3.0	1.0–2.0	950	$1,140	$1.20	21d	13	1.36mi
3299 Warringwood Dr Hoover, AL	2.0	1.5	960	$1,150	$1.20	21d	1	1.42mi

HOA detail condo

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

Listing history 12 events

1. 2026-05-07
   status Pending 336-char remark

   Show marketing remark (336 chars)

   Yes ! You read this right, a 2 bedroom, 2 bathroom Condo at $72,500. Has potential with the buyer's touches. Fire[lace in the family room with high celings Kitchen features solid surface countertops. 2 car garage, that has lots of storage. There is a community pool. Look around and note the improvements being made to the complex.

2. 2026-04-07
   price $68,500 336-char remark

   Show marketing remark (336 chars)

   Yes ! You read this right, a 2 bedroom, 2 bathroom Condo at $72,500. Has potential with the buyer's touches. Fire[lace in the family room with high celings Kitchen features solid surface countertops. 2 car garage, that has lots of storage. There is a community pool. Look around and note the improvements being made to the complex.

3. 2026-03-07
   price $72,500 336-char remark

   Show marketing remark (336 chars)

   Yes ! You read this right, a 2 bedroom, 2 bathroom Condo at $72,500. Has potential with the buyer's touches. Fire[lace in the family room with high celings Kitchen features solid surface countertops. 2 car garage, that has lots of storage. There is a community pool. Look around and note the improvements being made to the complex.

4. 2026-02-04
   price $79,900 336-char remark

   Show marketing remark (336 chars)

   Yes ! You read this right, a 2 bedroom, 2 bathroom Condo at $72,500. Has potential with the buyer's touches. Fire[lace in the family room with high celings Kitchen features solid surface countertops. 2 car garage, that has lots of storage. There is a community pool. Look around and note the improvements being made to the complex.

5. 2026-02-03
   status Active 336-char remark

   Show marketing remark (336 chars)

   Yes ! You read this right, a 2 bedroom, 2 bathroom Condo at $72,500. Has potential with the buyer's touches. Fire[lace in the family room with high celings Kitchen features solid surface countertops. 2 car garage, that has lots of storage. There is a community pool. Look around and note the improvements being made to the complex.

6. 2026-01-20
   status Pending 336-char remark

   Show marketing remark (336 chars)

   Yes ! You read this right, a 2 bedroom, 2 bathroom Condo at $72,500. Has potential with the buyer's touches. Fire[lace in the family room with high celings Kitchen features solid surface countertops. 2 car garage, that has lots of storage. There is a community pool. Look around and note the improvements being made to the complex.

7. 2025-12-26
   price $82,500
8. 2025-10-25
   price $89,900
9. 2025-09-25
   price $97,500
10. 2025-07-02
    price $99,900
11. 2025-05-27
    listed $82,500 Active 336-char remark

    Show marketing remark (336 chars)

    Yes ! You read this right, a 2 bedroom, 2 bathroom Condo at $72,500. Has potential with the buyer's touches. Fire[lace in the family room with high celings Kitchen features solid surface countertops. 2 car garage, that has lots of storage. There is a community pool. Look around and note the improvements being made to the complex.

12. 2025-01-17
    price $94,500

ⓘ 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 7/10 Severe 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: $16,299
• − Mortgage interest: −$3,837
• − Property taxes: −$1,028
• − Insurance: −$342
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$1,993
• Taxable income: $6,491
• Est. tax owed @ 24.0%: −$1,558
• After-tax cash flow: $5,637/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 · 12 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 2-bathroom condo is in good condition with cosmetic updates needed. It has a good roof, exterior, and interior, making it a solid investment opportunity.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants. ↑

ⓘ 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: Jefferson County
• NCES district ID: 0101920
• Math proficiency: 9% ▼ -24.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $51,712
• Composite: 18.4/100
• National rank: #8937
• State rank: #104 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

• 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

-27.5% since first listed

12 events — show timeline

• 2026-05-07 Pending — Greater Alabama MLS
• 2026-04-07 Price Changed $68,500 Greater Alabama MLS
• 2026-03-07 Price Changed $72,500 Greater Alabama MLS
• 2026-02-04 Price Changed $79,900 Greater Alabama MLS
• 2026-02-03 Relisted — Greater Alabama MLS
• 2026-01-20 Pending — Greater Alabama MLS
• 2025-12-26 Price Changed $82,500 Greater Alabama MLS
• 2025-10-25 Price Changed $89,900 Greater Alabama MLS
• 2025-09-25 Price Changed $97,500 Greater Alabama MLS
• 2025-07-02 Price Changed $99,900 Greater Alabama MLS
• 2025-05-27 Listed $82,500 Greater Alabama MLS
• 2025-01-17 Price Changed $94,500 Greater Alabama MLS