401 20th St S #306 · Birmingham, AL 35233

$180,000

1 bd · 1.0 ba · 966 sqft · Condo public records · 11 Days on market

Built 2007

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.4/5.0
• Cash flow +2.5/30.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Schools +0.9/10.0
• DSCR +0.0/10.0

Listing remarks

Bristol Southside Condo – Downtown Birmingham! Enjoy downtown living in this spacious 1 bedroom, 1 bathroom condo just two blocks from UAB Hospital and within walking distance of Publix, Starbucks, and Chipotle. Features include an eat-in kitchen with all appliances, ample cabinet space, a large walk-in closet, shower, and a covered, gated assigned parking space. Community amenities include a fitness center and resort style outdoor pool. Don't miss this opportunity to enjoy convenient, low-maintenance living in the heart of Birmingham!

Key facts

• Fitness center
• Eat-in kitchen
• Ample cabinet space

Tags

• EAT-IN KITCHEN
• AMPLE CABINET SPACE
• LARGE WALK-IN CLOSET
• COVERED GATED ASSIGNED PARKING
• FITNESS CENTER
• RESORT STYLE OUTDOOR POOL

Property features AI

Finance

• Other: Unit/lot number 306; Located in Bristol Southside subdivision; Not in flood plain
• HOA & community: Monthly condo fee of $400; HOA fees cover cable TV, garbage collection, common grounds maintenance, building insurance, management fee, recreation facility, reserve for improvements, sewage service, utilities for common areas, water, and internet

Exterior

• Parking: Assigned parking; On-street parking available; Side garage entry with 1 garage space
• Security: No specific security features listed
• Utilities: Electric water heater; Private water; Connected sewer; Internet availability unknown
• Home design: Condominium unit on level 3; Existing (previously built) property; 4-side brick construction
• Construction: Slab foundation
• Exterior features: Balcony; No pool, patio, deck, or garden/patio listed; Not waterfront

Interior

• Kitchen: Stone countertops; Built-in dishwasher; Built-in microwave; Refrigerator; Electric stove
• Bedrooms: One bedroom on main level with walk-in closet
• Flooring: Carpet; Hardwood
• Bathrooms: One full bathroom on main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 9-foot-plus ceilings; No additional built-in interior features listed
• Laundry & utility: Washer hookup in a closet on the main level; Dryer hookup (electric)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-626 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (8.0% below list).
• Recommended offer: $166k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 2.1% vs local median 6.2% in Birmingham — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Rents soft (-2.8%/yr); 54 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 33% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.3%/yr); year-one equity from $1k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $165,689 (8.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 2.12%
• Cash-on-cash: -14.89%
• DSCR: 0.34
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.32% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -31.0%
• Equity multiple: -0.20×
• Total profit: $-60,407
• Equity at exit: $40,675

10-year hold

• IRR: -32.1%
• Equity multiple: -1.16×
• Total profit: $-108,829
• Equity at exit: $40,391

Cash invested: $50,400 (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 35233

• Home prices YoY: -1.2%
• Rents YoY: -2.8%
• Active inventory: 54
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,657 high
• Mortgage (P&I): −$944
• Tax from tax record: −$297 /mo · $3,558/yr
• Insurance: −$75
• HOA est. from 7 same-building comps: −$619
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-626

Break-even live

Break-even rent $2,449

Max offer price $71,166

Occupancy floor —

Sensitivity live

Price	-10% $-524	-5% $-575	+0% $-626	+5% $-676	+10% $-727
Rent	-10% $-756	-5% $-691	+0% $-626	+5% $-560	+10% $-495
Rate	-1.0pp $-535	-0.5pp $-580	base $-626	+0.5pp $-672	+1.0pp $-720

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 20th St S Birmingham, AL	2.0–3.0	2.0	1163	$2,100	$1.81	18d	2	0.02mi
401 20th St S Birmingham, AL	2.0	2.0	1295	$2,000	$1.54	13d	2	0.02mi
2020 5th Ave S Birmingham, AL	1.0–3.0	1.0–2.5	1108	$1,450	$1.31	16d	4	0.04mi
425 20th St S Birmingham, AL	2.0	1.0	532	$1,955	$3.67	23d	18	0.04mi
2014 3rd Ave S Birmingham, AL	3.0	1.0–3.0	1107	$1,772	$1.60	4d	73	0.13mi
2000 2nd Ave S Birmingham, AL	2.0	1.0–2.0	980	$1,884	$1.92	5d	27	0.20mi
1701 1st Ave S Birmingham, AL	1.0–2.0	1.0–2.0	889	$1,437	$1.62	4d	21	0.37mi
2212 Morris Ave Apt 208 Birmingham, AL	1.0	1.0	600	$1,423	$2.37	5d	1	0.46mi
1508 4th Ave S Birmingham, AL	2.0	2.0	1142	$2,222	$1.95	5d	3	0.48mi
951 18th St S Birmingham, AL	2.0	1.0–2.0	466	$1,690	$3.63	5d	9	0.51mi
2400 1st Ave S Birmingham, AL	2.0	1.0–2.0	824	$1,638	$1.99	3d	29	0.53mi
120 19th St N Unit 312 Birmingham, AL	2.0	2.0	952	$3,495	$3.67	45d	1	0.54mi
1001 20th St S Birmingham, AL	4.0	1.0–4.0	824	$1,670	$2.03	4d	22	0.55mi
201 20th St N Birmingham, AL	1.0	1.0	491	$1,619	$3.29	5d	30	0.55mi
120 19th St N Birmingham, AL	1.0–2.0	1.0–2.0	886	$1,670	$1.88	4d	14	0.55mi
2021 10th Ave S Birmingham, AL	1.0	1.0	484	$1,160	$2.40	45d	1	0.55mi
1911 3rd Ave N Birmingham, AL	—	1.0	655	$1,788	$2.73	25d	3	0.60mi
1000 18th St S Unit 1000-11 Birmingham, AL	1.0	1.0	600	$812	$1.35	45d	1	0.60mi
1010 18th St S Birmingham, AL	1.0	1.0	600	$865	$1.44	5d	1	0.61mi
1329 4th Ave S #312 Birmingham, AL	1.0	1.0	630	$1,700	$2.70	25d	1	0.62mi
1329 4th Ave S Birmingham, AL	1.0	1.0	485	$1,700	$3.51	23d	2	0.62mi
2722 5th Ave S Birmingham, AL	2.0	1.0–2.0	794	$1,810	$2.28	3d	11	0.64mi
1816 3rd Ave N Birmingham, AL	1.0	1.0–1.5	1305	$2,865	$2.20	5d	15	0.65mi
2020 11th Ave S Birmingham, AL	1.0	1.0	515	$1,100	$2.14	5d	5	0.65mi
2412 2nd Ave N #11 Birmingham, AL	1.0	1.0	990	$1,800	$1.82	45d	1	0.68mi
1124 20th St S Birmingham, AL	1.0–2.0	1.0	1123	$1,048	$0.93	12d	2	0.70mi
2155 11th Ct S Unit 1 Birmingham, AL	1.0	1.0	625	$811	$1.30	4d	1	0.76mi
2155 11th Ct S Unit 11 Birmingham, AL	1.0	1.0	625	$851	$1.36	23d	1	0.76mi
2808 7th Ave S Birmingham, AL	1.0–2.0	1.0–2.0	933	$1,309	$1.40	3d	11	0.76mi
2808 7th Ave S Birmingham, AL	1.0–2.0	1.0–2.0	933	$1,214	$1.30	12d	11	0.76mi
2230 Highland Ave Birmingham, AL	2.0	1.0–2.0	968	$2,390	$2.47	3d	272	0.78mi
2251 Highland Ave S Birmingham, AL	1.0	1.0	522	$950	$1.82	4d	5	0.82mi
2900 7th Ave S Birmingham, AL	1.0–2.0	1.0–2.0	889	$1,180	$1.33	3d	15	0.82mi
1301 20th St S Unit B-11 Birmingham, AL	—	1.0	636	$750	$1.18	45d	1	0.83mi
1711 13th Ave S Birmingham, AL	1.0	2.0	1000	$1,875	$1.88	45d	1	0.85mi
57 Hanover Cir S Birmingham, AL	1.0	1.0	600	$1,300	$2.17	45d	1	0.85mi
2173 Highland Ave S Birmingham, AL	1.0–2.0	1.0–2.0	908	$1,578	$1.74	3d	32	0.86mi
1744 13th Ct S Unit 101 Birmingham, AL	2.0	1.0	800	$695	$0.87	45d	1	0.87mi
2704 Hanover Cir Unit 2 Birmingham, AL	1.0	1.0	600	$915	$1.52	25d	1	0.87mi
1701 13th Ave S Unit 2 Birmingham, AL	2.0	1.0	708	$1,168	$1.65	45d	1	0.88mi

HOA detail condo

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

Listing history 7 events

1. 2026-06-21
   days on market $180,000 Active 11 DOM
2. 2026-06-18
   days on market $180,000 Active 8 DOM
3. 2026-06-17
   days on market $180,000 Active 7 DOM
4. 2026-06-16
   days on market $180,000 Active 6 DOM
5. 2026-06-15
   days on market $180,000 Active 5 DOM
6. 2026-06-13
   remarks 541-char remark
7. 2026-06-13
   listed $180,000 Active 3 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: $3,558 · $297/mo
• Projected year-2 tax: $3,558 · $297/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,883
• − Mortgage interest: −$10,083
• − Property taxes: −$3,558
• − Insurance: −$900
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − HOA: −$7,428
• − Depreciation: −$5,236
• Taxable loss: −$10,504
• Est. tax savings @ 24.0%: +$2,521
• After-tax cash flow: $-4,985/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): 3,570
• Household income: $60,336
• Rent vs Own: 92.8% rent · 7.2% own
• Severe rent burden: 695.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 22% Asian 21% Hispanic / Latino 9% Two or more races 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Lithuanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 20% · China, Canada, South Korea
• Languages at home: 68% English-only · Other Indo-European 9% Spanish 8% Chinese 8%

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: ▼ -1.32%
• Current HPI: 111.6176
• Rent YoY: ▼ -2.84%
• 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

+12757.1% since first listed

2 events — show timeline

• 2026-06-10 Listed $180,000 Greater Alabama MLS
• 2022-08-22 Price Changed $1,400 RENT.

Property tax history

+2.8%/yr

Latest (2025): $3,558 · +0.0% YoY. Source: county tax records.