2024 Montreat Pkwy #2024 · Vestavia Hills, AL 35216

$229,900

4 bd · 2.5 ba · 1,750 sqft · Condo · 44 Days on market

Built 1969 Good condition $131/sqft · at area comps Est $235k · at est.

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Why this score? — see what drove the D+ 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 +12.4/30.0
• ARV discount +8.4/15.0
• Schools +6.5/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT LOCATION! Beautiful 3 or 4 bedroom 2.5 bath condo located in Vestavia Hills. Super convenient to I-65, 459, and downtown area!! VESTAVIA SCHOOLS. Great floorplan with large living room, kitchen, half bath and additional room on main level that could be used as dining room, office, or a 4th BEDROOM!! Large deck with beautiful wooded setting. Upstairs, you will find the Master suite and 2 additional bedrooms and another full bath. So much room! Community pool, clubhouse and tennis. HOA includes garbage collection, termite contract, sewage and water, common ground maintenance and management fee. NEW HVAC, NEW DISHWASHER, NEW PAINT

Key facts

• Community pool
• Built 1969
• Listed 44 days

Property features AI

Finance

• Financial info: Down payment assistance available
• HOA & community: Monthly condo fee of $508; HOA fees cover garbage collection, common grounds maintenance, building insurance, management fee, reserve for improvements, sewage service, water, and personal lawn care

Exterior

• Parking: On-street parking
• Utilities: Public water; Connected sewer; Electric water heater; Internet service available
• Home design: Condominium (Montreat Condominium); Condo unit on level 1; 4-side brick construction; Slab foundation; Existing (not new construction)
• Construction: 4-side brick construction; Slab foundation
• Exterior features: Storage building; Porch; Open patio; Open deck; Community in-ground pool with perimeter fencing; Community amenities include clubhouse and tennis courts; Swimming allowed

Interior

• Kitchen: Stone countertops; Electric cooktop; Built-in dishwasher; Built-in microwave; Electric oven; Refrigerator; Some stainless appliances
• Bedrooms: Multiple bedrooms including a master suite on upper level; Bedrooms located on main and upper levels
• Flooring: Hardwood laminate; Tile flooring
• Bathrooms: Two full bathrooms; One half bath; Master bath on upper level; Tub/shower combination
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceilings: other (see remarks); Living area approximately 1,750 total; Has attic with pull-down access; Has laundry
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath condo listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-40 ($-474/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (14.7% below list).
• Recommended offer: $196k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: crime A+, commute A+, employment 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.
• Zoned schools: West Elementary (math 64% / reading 86%, grade A, #14 of 627 statewide, top 2%, 745 students, 15% FRL); Pizitz Middle School (math 63% / reading 87%, grade A, #1 of 257 statewide, top 0%, 1,158 students, 11% FRL); Vestavia Hills High School (math 71% / reading 69%, grade B+, #3 of 305 statewide, top 1%, 1,578 students, 10% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 139 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 32% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 44 days — a 3% lower offer ($223k) 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.

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 $196,112 (14.7% 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 44 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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. 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: 0.85% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (median comp): $234,727
• List price: $229,900
• Delta: -2.06%
• 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: -18.0%
• Equity multiple: 0.37×
• Total profit: $-40,546
• Equity at exit: $34,279

10-year hold

• IRR: -10.9%
• Equity multiple: 0.35×
• Total profit: $-41,705
• Equity at exit: $19,878

Cash invested: $64,372 (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: 139
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,961 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$287 /mo · $3,448/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-40

Break-even live

Break-even rent $2,011

Max offer price $224,184

Occupancy floor 97%

Sensitivity live

Price	-10% $119	-5% $40	+0% $-40	+5% $-119	+10% $-198
Rent	-10% $-194	-5% $-117	+0% $-40	+5% $38	+10% $115
Rate	-1.0pp $76	-0.5pp $19	base $-40	+0.5pp $-99	+1.0pp $-160

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2128 Montreat Dr Vestavia Hills, AL	3.0	2.5	1705	$1,750	$1.03	45d	1	0.11mi
1716 Vestawood Ct Unit 1714D Vestavia Hills, AL	3.0	2.0	1503	$1,369	$0.91	45d	1	0.45mi
2717 Hackberry Rd Vestavia, AL	4.0	1.5	2067	$875	$0.42	45d	1	0.52mi
191 Castlehill Dr Vestavia, AL	4.0	3.0	2517	$2,550	$1.01	3d	1	0.75mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$1,399	$1.40	45d	1	0.76mi
1515 Vestridge Dr Vestavia Hills, AL	1.0–3.0	2.5	1670	$1,895	$1.13	3d	3	0.98mi
990 Wisteria Pl Birmingham, AL	3.0	2.0	1450	$1,620	$1.12	3d	3	1.07mi
1828 Jacobs Ln Vestavia Hills, AL	3.0	2.0	2203	$3,000	$1.36	45d	1	1.23mi
3454 Heather Ln Hoover, AL	4.0	3.0	2176	$2,600	$1.19	23d	1	1.40mi
3411 Cedar Crest Cir Hoover, AL	3.0	2.5	1336	$2,150	$1.61	3d	1	1.47mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-22
   days on market $229,900 Active 44 DOM
2. 2026-06-18
   days on market $229,900 Active 41 DOM
3. 2026-06-17
   days on market $229,900 Active 40 DOM
4. 2026-06-16
   days on market $229,900 Active 39 DOM
5. 2026-06-15
   days on market $229,900 Active 38 DOM
6. 2026-06-13
   days on market $229,900 Active 36 DOM
7. 2026-06-10
   days on market $229,900 Active 33 DOM
8. 2026-06-09
   days on market $229,900 Active 32 DOM
9. 2026-06-08
   days on market $229,900 Active 31 DOM
10. 2026-06-07
    pricestatusdays on market $229,900 Active 30 DOM
11. 2026-06-03
    statusdays on market $239,900 Contingent 26 DOM
12. 2026-06-03
    days on market $239,900 Active 25 DOM
13. 2026-06-01
    days on market $239,900 Active 24 DOM
14. 2026-05-31
    days on market $239,900 Active 23 DOM
15. 2026-05-08
    listed $239,900 Active 1050-char remark
16. 2026-05-05
    historical $239,900 1050-char remark
17. 2023-04-21
    soldstatus $229,900 Sold 641-char remark

    Show marketing remark (641 chars)

    GREAT LOCATION! Beautiful 3 or 4 bedroom 2.5 bath condo located in Vestavia Hills. Super convenient to I-65, 459, and downtown area!! VESTAVIA SCHOOLS. Great floorplan with large living room, kitchen, half bath and additional room on main level that could be used as dining room, office, or a 4th BEDROOM!! Large deck with beautiful wooded setting. Upstairs, you will find the Master suite and 2 additional bedrooms and another full bath. So much room! Community pool, clubhouse and tennis. HOA includes garbage collection, termite contract, sewage and water, common ground maintenance and management fee. NEW HVAC, NEW DISHWASHER, NEW PAINT

18. 2023-04-14
    status Pending 641-char remark

    Show marketing remark (641 chars)

    GREAT LOCATION! Beautiful 3 or 4 bedroom 2.5 bath condo located in Vestavia Hills. Super convenient to I-65, 459, and downtown area!! VESTAVIA SCHOOLS. Great floorplan with large living room, kitchen, half bath and additional room on main level that could be used as dining room, office, or a 4th BEDROOM!! Large deck with beautiful wooded setting. Upstairs, you will find the Master suite and 2 additional bedrooms and another full bath. So much room! Community pool, clubhouse and tennis. HOA includes garbage collection, termite contract, sewage and water, common ground maintenance and management fee. NEW HVAC, NEW DISHWASHER, NEW PAINT

19. 2023-04-13
    listed $229,900 Active 641-char remark

    Show marketing remark (641 chars)

    GREAT LOCATION! Beautiful 3 or 4 bedroom 2.5 bath condo located in Vestavia Hills. Super convenient to I-65, 459, and downtown area!! VESTAVIA SCHOOLS. Great floorplan with large living room, kitchen, half bath and additional room on main level that could be used as dining room, office, or a 4th BEDROOM!! Large deck with beautiful wooded setting. Upstairs, you will find the Master suite and 2 additional bedrooms and another full bath. So much room! Community pool, clubhouse and tennis. HOA includes garbage collection, termite contract, sewage and water, common ground maintenance and management fee. NEW HVAC, NEW DISHWASHER, NEW PAINT

20. 2023-04-10
    historical $229,900 641-char remark

    Show marketing remark (641 chars)

    GREAT LOCATION! Beautiful 3 or 4 bedroom 2.5 bath condo located in Vestavia Hills. Super convenient to I-65, 459, and downtown area!! VESTAVIA SCHOOLS. Great floorplan with large living room, kitchen, half bath and additional room on main level that could be used as dining room, office, or a 4th BEDROOM!! Large deck with beautiful wooded setting. Upstairs, you will find the Master suite and 2 additional bedrooms and another full bath. So much room! Community pool, clubhouse and tennis. HOA includes garbage collection, termite contract, sewage and water, common ground maintenance and management fee. NEW HVAC, NEW DISHWASHER, NEW PAINT

ⓘ 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: $23,533
• − Mortgage interest: −$12,878
• − Property taxes: −$3,448
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$6,688
• Taxable loss: −$4,396
• Est. tax savings @ 24.0%: +$1,055
• After-tax cash flow: $581/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 move-in ready condo in Vestavia Hills features updated kitchens and bathrooms, hardwood floors, and a spacious floorplan. The exterior is well-maintained with a brick facade and landscaped surroundings.

Value-add opportunities

• Both Painting the exterior brick — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior brick — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and 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: 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

+0.0% since first listed

9 events — show timeline

• 2026-06-05 Price Changed $229,900 Greater Alabama MLS
• 2026-06-04 Relisted — Greater Alabama MLS
• 2026-06-03 Contingent — Greater Alabama MLS
• 2026-05-08 Listed $239,900 Greater Alabama MLS
• 2026-05-05 Coming Soon $239,900 Greater Alabama MLS
• 2023-04-21 Sold (MLS) $229,900 Greater Alabama MLS
• 2023-04-14 Pending — Greater Alabama MLS
• 2023-04-13 Listed $229,900 Greater Alabama MLS
• 2023-04-10 Coming Soon $229,900 Greater Alabama MLS