1600 Pleasant Grove Rd · Birmingham, AL 35061

$74,900

3 bd · 1.5 ba · 1,050 sqft · SingleFamily public records · 79 Days on market

Built 1996 7,840 sqft lot $71/sqft · 37% below area Est $119k · 37% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks MLS

Investment opportunity at 1600 Pleasant Grove! This 3-bedroom, 1-bath home offers solid potential with a functional layout and appealing curb presence. With the right updates, this property could be a great addition to a rental portfolio or resale project. Ideal for investors looking to add value and maximize returns. Receivership property being sold as-is.

Key facts

• 7,840 sq ft lot
• Built 1996
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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-, schools F, crime 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.
• Market conditions: 16 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($518 loan paydown + $3k appreciation (4.1% 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 (4.1% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.
• Current owner paid $48k; list at $75k implies a 56% 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 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.57% ✓
• Cap rate: 12.38%
• Cash-on-cash: 21.75%
• DSCR: 1.97
• GRM: 5.3

CMA / ARV

• ARV (median comp): $118,900
• List price: $74,900
• Delta: -37.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Woodward Dr	0.37mi	3/1.0	988 (-6%)	7mo	$100,000	$101	65
1589 Carver St	0.39mi	3/1.0	957 (-9%)	5mo	$120,000	$125	61
1669 Pleasant Grove Rd	0.30mi	3/2.0	1,144 (+9%)	14mo	$135,000	$118	57
212 Cedar Cir	0.41mi	2/1.0 (-1)	1,184 (+13%)	1mo	$82,900	$70	52
399 Clio St	0.62mi	3/1.0	1,118 (+6%)	15mo	$115,000	$103	46
3505 2nd St N	0.46mi	3/1.0	960 (-9%)	21mo	$110,000	$115	44
358 Five Acre Rd	0.67mi	3/1.0	1,118 (+6%)	15mo	$125,900	$113	43
1719 Robins St	0.69mi	3/1.5	1,152 (+10%)	15mo	$27,000	$23	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.1%
• Equity multiple: 2.80×
• Total profit: $37,742
• Equity at exit: $38,436

10-year hold

• IRR: 29.6%
• Equity multiple: 5.54×
• Total profit: $95,219
• Equity at exit: $63,234

Cash invested: $20,972 (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 35061

• Home prices YoY: 1.8%
• Active inventory: 16
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,173 high
• Mortgage (P&I): −$393
• Tax from tax record: −$122 /mo · $1,469/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $380

Break-even live

Break-even rent $692

Max offer price $74,900

Occupancy floor 63%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1565 Miles St Dolomite, AL	3.0	2.0	1120	$1,175	$1.05	16d	1	0.22mi
216 Pine St Bessemer, AL	3.0	2.0	1000	$1,200	$1.20	43d	1	0.41mi
200 Woodward Dr Bessemer, AL	3.0	1.0	900	$1,123	$1.25	2d	1	0.44mi
1401 9th Ave Birmingham, AL	3.0	2.0	1222	$1,200	$0.98	43d	1	1.08mi
1983 Townhouse Ln Bessemer, AL	2.0	2.0	1465	$1,100	$0.75	16d	1	1.20mi
406 Forest Rd Bessemer, AL	3.0	2.0	1200	$1,175	$0.98	14d	1	1.21mi
1207 7th Ave Pleasant Grove, AL	3.0	1.0	1362	$1,601	$1.18	1d	1	1.26mi
608 5th Ave Midfield, AL	3.0	1.0	1241	$795	$0.64	21d	1	1.33mi
1109 12th Ave Birmingham, AL	4.0	2.0	1217	$1,475	$1.21	3d	1	1.36mi
616 Rutledge Dr Birmingham, AL	3.0	1.0	1416	$1,095	$0.77	21d	1	1.36mi
1133 7th Ave Pleasant Grove, AL	3.0	2.0	1104	$1,250	$1.13	14d	1	1.37mi
617 8th Ave Birmingham, AL	4.0	2.0	1436	$1,350	$0.94	1d	1	1.39mi
806 12th Ave Birmingham, AL	3.0	1.0	1262	$1,075	$0.85	43d	1	1.46mi
605 10th Ave Birmingham, AL	3.0	1.0	1060	$850	$0.80	43d	1	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $74,900 Active 79 DOM
2. 2026-06-17
   days on market $74,900 Active 78 DOM
3. 2026-06-16
   days on market $74,900 Active 77 DOM
4. 2026-06-15
   days on market $74,900 Active 76 DOM
5. 2026-06-13
   days on market $74,900 Active 74 DOM
6. 2026-06-10
   days on market $74,900 Active 71 DOM
7. 2026-06-09
   days on market $74,900 Active 70 DOM
8. 2026-06-08
   days on market $74,900 Active 69 DOM
9. 2026-06-07
   days on market $74,900 Active 68 DOM
10. 2026-06-03
    days on market $74,900 Active 64 DOM
11. 2026-06-02
    days on market $74,900 Active 63 DOM
12. 2026-06-01
    days on market $74,900 Active 62 DOM
13. 2026-05-31
    days on market $74,900 Active 61 DOM
14. 2026-03-30
    listed $74,900 Active 359-char remark

    Show marketing remark (359 chars)

    Investment opportunity at 1600 Pleasant Grove! This 3-bedroom, 1-bath home offers solid potential with a functional layout and appealing curb presence. With the right updates, this property could be a great addition to a rental portfolio or resale project. Ideal for investors looking to add value and maximize returns. Receivership property being sold as-is.

15. 2026-01-20
    price $74,900
16. 2025-07-25
    historical $1,150
17. 2024-04-10
    listed $1,150
18. 2024-04-10
    historical $1,150
19. 2023-07-20
    listed $1,150
20. 1997-10-01
    soldstatus $48,000

ⓘ 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: $1,469 · $122/mo
• Projected year-2 tax: $1,469 · $122/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,074
• − Mortgage interest: −$4,196
• − Property taxes: −$1,469
• − Insurance: −$374
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$2,179
• Taxable income: $3,604
• Est. tax owed @ 24.0%: −$865
• After-tax cash flow: $3,697/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
• City population: 210,422
• Population (ZIP): 1,633

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 (97%)
• Race & ethnicity: Black 97% White 3%
• Foreign-born: 0%

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: ▲ 4.10%
• Current HPI: 232.777
• Rent YoY: —
• Metro: —
• 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

+56.0% since first listed

7 events — show timeline

• 2026-03-30 Listed $74,900 Greater Alabama MLS
• 2026-01-20 Price Changed $74,900 Greater Alabama MLS
• 2025-07-25 Rental Removed $1,150 APPFOLIO
• 2024-04-10 Listed for Rent $1,150 APPFOLIO
• 2024-04-10 Rental Removed $1,150 APPFOLIO
• 2023-07-20 Listed for Rent $1,150 APPFOLIO
• 1997-10-01 Sold (Public Records) $48,000 Public Records

Property tax history

+33.8%/yr

Latest (2025): $1,469 · +0.0% YoY. Source: county tax records.