1515 35th St · Birmingham, AL 35218

$69,900

3 bd · 1.0 ba · 1,205 sqft · SingleFamily public records · 8 Days on market

Built 1941 7,405 sqft lot $58/sqft · 15% below area Est $82k · 15% under

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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
• ARV discount +14.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.2/10.0
• 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

Great Home cared for by the same owner for almost 60 years! Amazing condition with everything taken care of. This home has been cared for and it truly shows. Wonderful floorplan with everything on the main level. Two bedrooms, One bathroom with a extra room in the master and a half bath! Laundry on main level. This home has a dining area along with a seperate eat in space in the kitchen. There is so much space! This home is truly a gem and the best in the entire neighborhood! Please call for a showing

Key facts

• Flex space
• Fenced in backyard
• 7,405 sq ft lot

Tags

• FENCED IN BACKYARD
• FLEX SPACE

Property features AI

Finance

• Other: Property located in the Ensley subdivision; Flood plain: No; Lot view: No; Parcel ID on record
• Financial info: Down payment assistance available; Garbage fee charged yearly

Exterior

• Parking: On-street parking
• Utilities: Public water; Connected sewer; Electric water heater; Internet service availability
• Home design: Existing construction; Single-story living areas (rooms listed on main level)
• Construction: Vinyl siding; Slab foundation
• Exterior features: Fenced yard; Open patio

Interior

• Kitchen: Laminate countertops
• Bedrooms: Master bedroom on main level; Additional bedrooms on main level
• Flooring: Vinyl
• Bathrooms: One full bathroom; One half bathroom; Tub/shower combo
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Smooth ceilings; Vinyl floors; Masonry wood-burning fireplace in the living room; Attic with pull-down access; No additional built-in interior features listed
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 12.7% 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-, crime F, employment 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.
• Zoned schools: Minor Elementary School (math 0% / reading 14%, grade F, #601 of 627 statewide, top 98%, 454 students, 90% FRL).
• Market conditions: 50 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 43% of the median local income ($31k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.5%/yr); year-one equity from $483 of loan paydown is wiped out by about $1k 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 (-1.5% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• 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 $69,900

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.59% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.93%
• DSCR: 2.02
• GRM: 5.2

CMA / ARV

• ARV (median comp): $81,889
• List price: $69,900
• Delta: -14.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1515 35th St	0.00mi	3/1.5	1,205 (0%)	1mo	$80,000	$66	97
1205 41st Street Ensley	0.38mi	3/1.0	1,204 (-0%)	2mo	$125,000	$104	80
3300 Avenue Q	0.24mi	2/1.0 (-1)	1,227 (+2%)	0mo	$35,000	$29	80
1836 Bessemer Rd	0.39mi	3/1.0	1,258 (+4%)	4mo	$55,000	$44	71
1414 27th St	0.49mi	3/1.0	1,170 (-3%)	4mo	$50,000	$43	69
1031 40th St	0.59mi	3/1.0	1,130 (-6%)	1mo	$76,000	$67	61
1112 47th St	0.61mi	2/1.0 (-1)	1,166 (-3%)	5mo	$83,000	$71	58
4732 Terrace	0.69mi	3/1.0	1,125 (-7%)	0mo	$29,500	$26	57
1516 32nd St	0.24mi	2/1.0 (-1)	1,028 (-15%)	4mo	$57,000	$55	56
1508 W 51st St	0.74mi	3/1.5	1,264 (+5%)	2mo	$30,000	$24	53
4728 Terrace	0.68mi	3/2.0	1,276 (+6%)	4mo	$29,900	$23	51
4637 Avenue R	0.52mi	2/1.0 (-1)	1,378 (+14%)	3mo	$28,500	$21	44

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

Projected returns pro-forma

-1.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.86×
• Total profit: $16,901
• Equity at exit: $15,080

10-year hold

• IRR: 25.8%
• Equity multiple: 3.53×
• Total profit: $49,511
• Equity at exit: $14,354

Cash invested: $19,572 (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 35218

• Home prices YoY: -0.9%
• Active inventory: 50
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,114 high
• Mortgage (P&I): −$367
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $374

Break-even live

Break-even rent $641

Max offer price $69,900

Occupancy floor 61%

Sensitivity live

Price	-10% $414	-5% $394	+0% $374	+5% $354	+10% $334
Rent	-10% $286	-5% $330	+0% $374	+5% $418	+10% $462
Rate	-1.0pp $409	-0.5pp $392	base $374	+0.5pp $356	+1.0pp $337

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1520 41st Street Ensley Birmingham, AL	3.0	2.0	1068	$1,195	$1.12	44d	1	0.10mi
1528 34th Street Ensley Birmingham, AL	3.0	2.0	972	$1,073	$1.10	44d	1	0.11mi
1429 Warrior Rd Birmingham, AL	3.0	1.0	1036	$850	$0.82	16d	1	0.11mi
1420 Warrior Rd Birmingham, AL	3.0	1.0	1061	$1,050	$0.99	44d	1	0.11mi
1417 34th Street Ensley Birmingham, AL	3.0	1.0	1103	$1,025	$0.93	44d	1	0.14mi
1524 33rd Street Ensley Birmingham, AL	4.0	2.0	1222	$1,095	$0.90	21d	1	0.18mi
1540 42nd Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	899	$1,037	$1.15	44d	1	0.18mi
1520 33rd Street Ensley Birmingham, AL	4.0	2.0	1215	$1,275	$1.05	12d	1	0.18mi
1306 35th Street Ensley Birmingham, AL	3.0	2.0	1100	$1,173	$1.07	3d	1	0.23mi
1617 42nd Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1413	$1,030	$0.73	16d	1	0.24mi
1607 43rd Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1435	$1,150	$0.80	24d	1	0.30mi
1436 44th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1435	$1,495	$1.04	2d	1	0.31mi
1604 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1100	$1,200	$1.09	24d	1	0.32mi
1532 31st Street Ensley Birmingham, AL	2.0	1.0	839	$850	$1.01	44d	1	0.32mi
1509 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1260	$1,123	$0.89	12d	1	0.33mi
1301 32nd Street Ensley Birmingham, AL	3.0	1.0	1200	$975	$0.81	44d	1	0.33mi
1515 45th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1440	$875	$0.61	3d	1	0.40mi
1820 33rd St W Birmingham, AL	4.0	1.5	1212	$1,495	$1.23	44d	1	0.43mi
1545 29th Street Ensley Birmingham, AL	3.0	1.5	1331	$1,200	$0.90	44d	1	0.44mi
1501 29th Street Ensley Birmingham, AL	2.0	1.0	772	$800	$1.04	24d	1	0.44mi
1410 46th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1200	$1,000	$0.83	44d	1	0.45mi
1724 30th Street Ensley Birmingham, AL	4.0	2.0	1428	$1,395	$0.98	16d	1	0.47mi
1313 Pike Rd Birmingham, AL	3.0	1.0	1437	$975	$0.68	44d	1	0.48mi
3221 Avenue S Birmingham, AL	3.0	2.0	1190	$1,250	$1.05	24d	1	0.48mi
4619 Terrace Q Birmingham, AL	3.0	2.0	1198	$900	$0.75	44d	1	0.49mi
1616 28th Street Ensley Birmingham, AL	3.0	1.0	1081	$1,100	$1.02	44d	1	0.54mi
1429 47th Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	768	$750	$0.98	44d	1	0.54mi
1521 27th Street Ensley Birmingham, AL	3.0	2.0	1120	$1,000	$0.89	44d	1	0.55mi
4637 Court S Birmingham, AL	3.0	1.0	1225	$975	$0.80	2d	1	0.55mi
2520 Avenue U Unit A Birmingham, AL	4.0	1.0	1260	$1,200	$0.95	44d	1	0.57mi
3009 Prince Ave Birmingham, AL	3.0	2.0	1176	$1,095	$0.93	24d	1	0.58mi
1112 47th St W Birmingham, AL	2.0	1.0	1166	$975	$0.84	44d	1	0.60mi
4724 Court R Birmingham, AL	2.0	1.0	1016	$895	$0.88	15d	1	0.61mi
2610 Avenue P Birmingham, AL	3.0	2.0	1014	$850	$0.84	44d	1	0.61mi
1556 Burgin Ave Birmingham, AL	4.0	1.0	1168	$1,100	$0.94	19d	1	0.62mi
1556 Burgin Ave Birmingham, AL	3.0	1.0	1168	$1,100	$0.94	21d	1	0.62mi
4716 Court M Birmingham, AL	4.0	1.0	932	$1,200	$1.29	44d	1	0.63mi
1606 49th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1136	$1,100	$0.97	44d	1	0.63mi
4732 Court S Birmingham, AL	3.0	1.0	1372	$1,100	$0.80	44d	1	0.66mi
1037 47th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1299	$1,000	$0.77	44d	1	0.67mi

Listing history 5 events

1. 2026-05-06
   status Pending 369-char remark
2. 2026-04-28
   listed $69,900 Active 369-char remark
3. 2023-01-18
   soldstatus $66,000
4. 2014-11-19
   soldstatus $26,000 506-char remark

   Show marketing remark (506 chars)

   Great Home cared for by the same owner for almost 60 years! Amazing condition with everything taken care of. This home has been cared for and it truly shows. Wonderful floorplan with everything on the main level. Two bedrooms, One bathroom with a extra room in the master and a half bath! Laundry on main level. This home has a dining area along with a seperate eat in space in the kitchen. There is so much space! This home is truly a gem and the best in the entire neighborhood! Please call for a showing

5. 2014-10-19
   listed $24,900 506-char remark

   Show marketing remark (506 chars)

   Great Home cared for by the same owner for almost 60 years! Amazing condition with everything taken care of. This home has been cared for and it truly shows. Wonderful floorplan with everything on the main level. Two bedrooms, One bathroom with a extra room in the master and a half bath! Laundry on main level. This home has a dining area along with a seperate eat in space in the kitchen. There is so much space! This home is truly a gem and the best in the entire neighborhood! Please call for a showing

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,324 · $110/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 1/10 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,367
• − Mortgage interest: −$3,915
• − Property taxes: −$1,324
• − Insurance: −$350
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − Depreciation: −$2,033
• Taxable income: $3,606
• Est. tax owed @ 24.0%: −$865
• After-tax cash flow: $3,622/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): 6,981
• Household income: $30,739
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 621.0

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: Predominantly Black (76%)
• Race & ethnicity: Black 76% Two or more races 17% White 5% Hispanic / Latino 4%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 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: ▼ -1.54%
• Current HPI: 170.4053
• Rent YoY: —
• 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

+221.3% since first listed

6 events — show timeline

• 2026-05-21 Sold (MLS) $80,000 Greater Alabama MLS
• 2026-05-06 Pending — Greater Alabama MLS
• 2026-04-28 Listed $69,900 Greater Alabama MLS
• 2023-01-18 Sold (Public Records) $66,000 Public Records
• 2014-11-19 Sold (MLS) $26,000 Greater Alabama MLS
• 2014-10-19 Listed $24,900 Greater Alabama MLS

Property tax history

+10.8%/yr

Latest (2025): $1,324 · +0.0% YoY. Source: county tax records.