1309 Morning Sun Cir #1309 · Meadowbrook, AL 35242

$175,000

2 bd · 2.0 ba · 1,121 sqft · Condo · 38 Days on market

Built 1985 Good condition $156/sqft · at area comps Est $184k · at est. ↓ 3% since listing

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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 +9.7/15.0
• Cash flow +6.6/30.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1309 Morning Sun Circle! This move-in ready 2-bedroom, 2-bath main-level condo offers comfortable living in a highly convenient location. Enjoy a spacious living room, a dining area just off the kitchen, and a well-appointed kitchen featuring granite countertops and a pantry. Relax on the screened porch while taking in the beautiful view. Conveniently located near shopping, restaurants, grocery stores, and more. Community amenities include a pool, tennis courts, fitness center, clubhouse, and dog park. Schedule your private showing today!

Key facts

• Community pool
• Built 1985
• Listed 38 days

Property features AI

Finance

• Other: Property accessed by paved road; Unit/lot number 1309; Located in Horizon Condominiums
• Financial info: Down payment assistance available
• HOA & community: Monthly condo fee of $268; HOA fees cover garbage collection, common grounds maintenance, pest control, recreation facility and utilities for common areas; Fire fee (yearly) and library fee (yearly) apply

Exterior

• Parking: Off-street parking; Unassigned parking
• Utilities: Public water; Connected sewer; Electric water heater; Underground utilities; Internet service available
• Home design: Condominium (unit on level 1); Existing construction; Siding exterior
• Construction: Built as existing (year built description: existing); Slab foundation
• Exterior features: Community swimming pool (in-ground) with cleaning system and perimeter fencing; Covered, screened deck; Clubhouse, park, sidewalks, street lights, and tennis courts in the community; Mountain view; Swimming allowed

Interior

• Kitchen: Stone countertops; Electric cooktop; Built-in dishwasher; Built-in microwave; Electric oven; Refrigerator
• Bedrooms: Master bedroom on main level; Additional bedroom on main level; Walk-in closets; Linen closet
• Flooring: Hardwood laminate; Tile flooring
• Bathrooms: Two full bathrooms; Tub/shower combo
• Heating & cooling: Central heating; Central cooling; Ceiling fans
• Interior features: Crown molding and smooth ceilings; Pantry; No attic
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (14.4% below list).
• Recommended offer: $150k (14.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#172 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Shelby County (suburban): math 30% / reading 58% proficiency, ranked #16 of 129 in AL (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Inverness Elementary School (math 47% / reading 72%, grade B-, #63 of 627 statewide, top 10%, 582 students, 29% FRL); Oak Mountain Middle School (math 38% / reading 72%, grade B-, #17 of 257 statewide, top 7%, 1,175 students, 25% FRL); Oak Mountain High School (math 52% / reading 52%, grade D+, #11 of 305 statewide, top 4%, 1,561 students, 22% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: Rents flat; 400 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 987 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($117k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($170k) 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,796 (14.4% 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. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-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. 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: 0.86% ✗
• Cap rate: 4.32%
• Cash-on-cash: -7.05%
• DSCR: 0.69
• GRM: 9.7

CMA / ARV

• ARV (median comp): $183,837
• List price: $175,000
• Delta: -4.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -31.5%
• Equity multiple: -0.02×
• Total profit: $-49,747
• Equity at exit: $26,093

10-year hold

• IRR: -53.9%
• Equity multiple: -0.61×
• Total profit: $-78,878
• Equity at exit: $15,131

Cash invested: $49,000 (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 35242

• Home prices YoY: -32.7%
• Rents YoY: 0.8%
• Active inventory: 400
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,498 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA est. from 2 same-building comps: −$262
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-288

Break-even live

Break-even rent $1,863

Max offer price $133,326

Occupancy floor —

Sensitivity live

Price	-10% $-167	-5% $-228	+0% $-288	+5% $-348	+10% $-409
Rent	-10% $-406	-5% $-347	+0% $-288	+5% $-229	+10% $-170
Rate	-1.0pp $-200	-0.5pp $-243	base $-288	+0.5pp $-333	+1.0pp $-379

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
817 Morning Sun Dr Birmingham, AL	2.0	1.0	882	$1,300	$1.47	25d	1	0.12mi
100 Inverness Ln Birmingham, AL	1.0–3.0	1.0–2.0	1175	$1,208	$1.03	3d	1	0.75mi
3 Greenhill Pkwy Birmingham, AL	2.0	1.0–2.0	650	$1,299	$2.00	5d	8	0.76mi
1 Eagle Ridge Dr Birmingham, AL	1.0–2.0	1.0–2.0	914	$1,413	$1.55	3d	17	0.93mi
1 Brook Highland Ln Birmingham, AL	1.0–3.0	1.0–2.0	1153	$1,288	$1.12	45d	1	0.98mi
1 Meadow Dr Birmingham, AL	1.0–3.0	1.0–2.0	1153	$1,294	$1.12	45d	1	1.00mi
3100 Heatherbrooke Rd Birmingham, AL	1.0–3.0	1.0–2.0	995	$1,562	$1.57	3d	50	1.05mi
1164 Windsor Sq Birmingham, AL	3.0	3.0	1435	$2,399	$1.67	3d	1	1.08mi
1022 Windsor Dr Birmingham, AL	3.0	3.0	1380	$2,123	$1.54	45d	1	1.11mi
1026 Windsor Dr Unit 1026 Meadowbrook, AL	3.0	3.0	1430	$2,390	$1.67	21d	1	1.11mi
1026 Windsor Dr Meadowbrook, AL	3.0	3.0	1435	$2,295	$1.60	3d	1	1.13mi
1 Lake Heather Reserve Birmingham, AL	1.0–3.0	1.0–2.0	1119	$1,684	$1.50	3d	16	1.17mi
850 Shoal Run Trl Birmingham, AL	1.0–2.0	1.0–2.0	875	$1,299	$1.48	45d	1	1.26mi
801 Cahaba Forest Cv Birmingham, AL	1.0–3.0	1.0–2.0	1054	$1,252	$1.19	4d	24	1.45mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-21
   days on market $175,000 Active 38 DOM
2. 2026-06-18
   days on market $175,000 Active 35 DOM
3. 2026-06-17
   days on market $175,000 Active 34 DOM
4. 2026-06-16
   days on market $175,000 Active 33 DOM
5. 2026-06-15
   price $175,000 Active 32 DOM
6. 2026-06-15
   days on market $179,900 Active 32 DOM
7. 2026-06-13
   days on market $179,900 Active 30 DOM
8. 2026-06-13
   days on market $179,900 Active 29 DOM
9. 2026-06-10
   days on market $179,900 Active 27 DOM
10. 2026-06-09
    days on market $179,900 Active 26 DOM
11. 2026-06-08
    days on market $179,900 Active 25 DOM
12. 2026-06-07
    days on market $179,900 Active 24 DOM
13. 2026-06-05
    days on market $179,900 Active 21 DOM
14. 2026-06-03
    days on market $179,900 Active 20 DOM
15. 2026-06-02
    days on market $179,900 Active 19 DOM
16. 2026-06-01
    days on market $179,900 Active 18 DOM
17. 2026-05-31
    days on market $179,900 Active 17 DOM
18. 2026-05-14
    listed $179,900 Active 555-char remark
19. 2026-05-08
    historical $179,900 555-char remark

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 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 5 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,976
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − HOA: −$3,144
• − Depreciation: −$5,091
• Taxable loss: −$6,438
• Est. tax savings @ 24.0%: +$1,545
• After-tax cash flow: $-1,911/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 · 26 photos

Good 80/100 Cosmetic rehab

This move-in ready 2-bedroom, 2-bath condo is in good condition with a good condition score of 80. It offers a spacious living room, a dining area, and a well-appointed kitchen. The home is located in a highly convenient location with community amenities including a pool, tennis courts, fitness center, clubhouse, and dog park.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both painting — fresh paint can make a home more appealing
• Both upgrading appliances — newer appliances can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — fresh paint can make a home more appealing ↑
• Both upgrading appliances — newer appliances can increase both resale and rental value ↑

ⓘ 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: Shelby County
• NCES district ID: 0103030
• Math proficiency: 30% ▼ -28.00%
• Reading proficiency: 58% ▲ 2.00%
• Median HH income: $66,672
• Composite: 39.29/100
• National rank: #3995
• State rank: #16 of 129 in AL

Livability — Meadowbrook

• Score: 63/100
• State rank: #172
• US rank: #14884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meadowbrook, AL
• County: Shelby County · 188,970 people
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 57,374
• Household income: $117,047
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 1518.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 4% Asian 4% Hispanic / Latino 4%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.14%
• Current HPI: 208.0564
• Rent YoY: ▲ 0.81%
• 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

-2.7% since first listed

3 events — show timeline

• 2026-06-15 Price Changed $175,000 Greater Alabama MLS
• 2026-05-14 Listed $179,900 Greater Alabama MLS
• 2026-05-08 Coming Soon $179,900 Greater Alabama MLS