2106 Montreat Dr Unit D · Vestavia Hills, AL 35216

$165,000

3 bd · 2.0 ba · 1,268 sqft · Condo · 125 Days on market

Built 1968 Good condition $130/sqft · 6% below area Est $176k · 6% under

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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 +17.1/30.0
• ARV discount +10.4/15.0
• Schools +6.5/10.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 3-bedroom, 2-bath condominium located in the Montreat Condominium Community, offering comfort, convenience, and easy living. The unit is in typical condition for its age and is suitable for immediate occupancy, making it an excellent option for homeowners or investors. The interior features a functional layout with a welcoming living area highlighted by a cozy fireplace, creating a warm space for relaxing or entertaining. The kitchen is efficiently arranged for daily use, while a dedicated laundry area adds practical convenience. All three bedrooms are well-proportioned, and the two full bathrooms provide comfort and functionality. Located within an established community with an active owner association, this condo offers low-maintenance living in a desirable Birmingham location, presenting an excellent opportunity to enjoy a practical home with lasting value and everyday appeal.

Key facts

• Cozy fireplace
• Community pool
• Built 1968

Tags

• MONTREAT CONDOMINIUM COMMUNITY
• WELCOMING LIVING AREA
• COZY FIREPLACE
• DEDICATED LAUNDRY AREA
• LOW-MAINTENANCE LIVING
• DESIRABLE BIRMINGHAM LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $116 ($1k/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 $159k (3.6% below list).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.5% in Vestavia Hills — 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 (#2 in AL, #827 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F, cost of living F.
• Vestavia Hills City (suburban): math 63% / reading 83% proficiency, ranked #2 of 129 in AL (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 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

• It's been on market 125 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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: 0.96% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 8.6

CMA / ARV

• ARV (median comp): $176,327
• List price: $165,000
• Delta: -6.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.0%
• Equity multiple: 0.57×
• Total profit: $-19,976
• Equity at exit: $24,602

10-year hold

• IRR: -3.4%
• Equity multiple: 0.77×
• Total profit: $-10,439
• Equity at exit: $14,266

Cash invested: $46,200 (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: $1,590 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $116

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 88%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 Montreat Ln Apt C Vestavia Hills, AL	2.0	2.0	1148	$1,450	$1.26	43d	1	0.03mi
2128 Montreat Dr Vestavia Hills, AL	3.0	2.5	1705	$1,750	$1.03	43d	1	0.12mi
2209 Montreat Cir Unit D Vestavia Hills, AL	2.0	2.0	1085	$1,600	$1.47	3d	1	0.13mi
2076 Montreat Cir Vestavia Hills, AL	2.0	2.0	1034	$1,600	$1.55	43d	1	0.23mi
2105 Montreat Pkwy Unit D Vestavia Hills, AL	2.0	1.0	1100	$1,250	$1.14	44d	1	0.24mi
1716 Vestawood Ct Unit 1715H Vestavia Hills, AL	2.0	2.0	1080	$1,314	$1.22	43d	1	0.30mi
1716 Vestawood Ct Unit 1714D Vestavia Hills, AL	3.0	2.0	1503	$1,369	$0.91	43d	1	0.30mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,420	$1.59	43d	1	0.38mi
2410 Yellow Hammer Hl Birmingham, AL	1.0–2.0	1.0–2.0	969	$1,275	$1.32	11d	4	0.52mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$1,399	$1.40	43d	1	0.61mi
2070 Vestavia Park Ct Unit 2023B Vestavia Hills, AL	3.0	2.0	1125	$1,500	$1.33	23d	1	0.80mi
3101 Lorna Rd #924 Hoover, AL	2.0	2.0	1023	$1,750	$1.71	19d	1	0.83mi
3101 Lorna Rd Unit ROAD924 Birmingham, AL	2.0	2.0	965	$1,750	$1.81	1d	1	0.83mi
3101 Lorna Rd Hoover, AL	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	43d	2	0.83mi
1515 Vestridge Dr Vestavia Hills, AL	1.0–3.0	2.5	1670	$1,895	$1.13	1d	3	0.90mi
3299 Warringwood Dr Hoover, AL	2.0	1.5	960	$1,150	$1.20	21d	1	0.92mi
990 Wisteria Pl Birmingham, AL	3.0	2.0	1450	$1,620	$1.12	1d	3	1.20mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-17
   status $165,000 Pending 125 DOM
2. 2026-06-16
   days on market $165,000 Contingent 125 DOM
3. 2026-06-15
   days on market $165,000 Contingent 124 DOM
4. 2026-06-13
   days on market $165,000 Contingent 122 DOM
5. 2026-06-10
   days on market $165,000 Contingent 119 DOM
6. 2026-06-09
   days on market $165,000 Contingent 118 DOM
7. 2026-06-08
   days on market $165,000 Contingent 117 DOM
8. 2026-06-07
   days on market $165,000 Contingent 116 DOM
9. 2026-06-03
   days on market $165,000 Contingent 112 DOM
10. 2026-06-03
    days on market $165,000 Contingent 111 DOM
11. 2026-06-01
    days on market $165,000 Contingent 110 DOM
12. 2026-05-31
    days on market $165,000 Contingent 109 DOM
13. 2026-04-22
    price $165,000 924-char remark

    Show marketing remark (924 chars)

    Welcome to this well-maintained 3-bedroom, 2-bath condominium located in the Montreat Condominium Community, offering comfort, convenience, and easy living. The unit is in typical condition for its age and is suitable for immediate occupancy, making it an excellent option for homeowners or investors. The interior features a functional layout with a welcoming living area highlighted by a cozy fireplace, creating a warm space for relaxing or entertaining. The kitchen is efficiently arranged for daily use, while a dedicated laundry area adds practical convenience. All three bedrooms are well-proportioned, and the two full bathrooms provide comfort and functionality. Located within an established community with an active owner association, this condo offers low-maintenance living in a desirable Birmingham location, presenting an excellent opportunity to enjoy a practical home with lasting value and everyday appeal.

14. 2026-03-14
    price $175,000 924-char remark

    Show marketing remark (924 chars)

    Welcome to this well-maintained 3-bedroom, 2-bath condominium located in the Montreat Condominium Community, offering comfort, convenience, and easy living. The unit is in typical condition for its age and is suitable for immediate occupancy, making it an excellent option for homeowners or investors. The interior features a functional layout with a welcoming living area highlighted by a cozy fireplace, creating a warm space for relaxing or entertaining. The kitchen is efficiently arranged for daily use, while a dedicated laundry area adds practical convenience. All three bedrooms are well-proportioned, and the two full bathrooms provide comfort and functionality. Located within an established community with an active owner association, this condo offers low-maintenance living in a desirable Birmingham location, presenting an excellent opportunity to enjoy a practical home with lasting value and everyday appeal.

15. 2026-02-10
    listed $185,000 Active 924-char remark

    Show marketing remark (924 chars)

    Welcome to this well-maintained 3-bedroom, 2-bath condominium located in the Montreat Condominium Community, offering comfort, convenience, and easy living. The unit is in typical condition for its age and is suitable for immediate occupancy, making it an excellent option for homeowners or investors. The interior features a functional layout with a welcoming living area highlighted by a cozy fireplace, creating a warm space for relaxing or entertaining. The kitchen is efficiently arranged for daily use, while a dedicated laundry area adds practical convenience. All three bedrooms are well-proportioned, and the two full bathrooms provide comfort and functionality. Located within an established community with an active owner association, this condo offers low-maintenance living in a desirable Birmingham location, presenting an excellent opportunity to enjoy a practical home with lasting value and everyday appeal.

16. 2024-11-08
    price $145,500

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 18 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: $19,083
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$4,800
• Taxable loss: −$1,313
• Est. tax savings @ 24.0%: +$315
• After-tax cash flow: $1,708/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 80/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bath condominium is in good condition and suitable for immediate occupancy. It offers a functional layout, modern finishes, and a clean exterior appearance. Potential buyers and renters can appreciate the home's current condition and the numerous updates that can be made to further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring in the bedrooms — Carpet can be replaced with hardwood or tile for a more modern look and easier maintenance.
• Both Upgrading the kitchen appliances — Modern appliances can improve functionality and appeal to potential buyers/renters.
• Both Installing smart home devices — Smart home devices can increase convenience and appeal to tech-savvy buyers/renters.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/renters.
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and comfort for potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the bedrooms — Carpet can be replaced with hardwood or tile for a more modern look and easier maintenance. ↑
• Both Upgrading the kitchen appliances — Modern appliances can improve functionality and appeal to potential buyers/renters. ↑
• Both Installing smart home devices — Smart home devices can increase convenience and appeal to tech-savvy buyers/renters. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/renters. ↑
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and comfort for potential buyers/renters. ↑

ⓘ 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: Vestavia Hills City
• NCES district ID: 0103430
• Math proficiency: 63% ▼ -19.00%
• Reading proficiency: 83% ▲ 4.00%
• Median HH income: $87,306
• Composite: 65.34/100
• National rank: #486
• State rank: #2 of 129 in AL

Livability — Vestavia Hills

• Score: 84/100
• State rank: #2
• US rank: #827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vestavia Hills, AL
• County: Jefferson County · 527,445 people
• City population: 34,327
• 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

+13.4% since first listed

4 events — show timeline

• 2026-04-22 Price Changed $165,000 Greater Alabama MLS
• 2026-03-14 Price Changed $175,000 Greater Alabama MLS
• 2026-02-10 Listed $185,000 Greater Alabama MLS
• 2024-11-08 Price Changed $145,500 Greater Alabama MLS