2924 33rd Way N · Birmingham, AL 35207

$55,000

3 bd · 3.0 ba · 888 sqft · SingleFamily public records · 44 Days on market

Built 1958 3,484 sqft lot $62/sqft · 8% above area Est $63k · 13% 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 +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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

This would be a good investment property. Three bedrooms, one bath, good sized kitchen. Finish what someone started and make this a part of your portfolio.

Key facts

• 3,484 sq ft lot
• Built 1958
• Listed 44 days

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $56 ($674/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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: 42 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $6k of equity ($380 loan paydown + $6k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $55k implies a 633% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
8. 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.
9. 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: 1.90% ✓
• Cap rate: 16.82%
• Cash-on-cash: 37.61%
• DSCR: 2.67
• GRM: 4.4

CMA / ARV

• ARV (median comp): $63,042
• List price: $55,000
• Delta: -12.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3402 33rd Ct N	0.27mi	3/1.0	876 (-1%)	7mo	$63,000	$72	71
3373 33rd Pl N	0.38mi	3/1.0	912 (+3%)	3mo	$55,000	$60	67
3335 N 31st Pl	0.45mi	3/1.5	882 (-1%)	9mo	$97,000	$110	64
3459 35th Ave N	0.65mi	2/1.0 (-1)	864 (-3%)	1mo	$60,000	$69	52
3148 34th Ter N	0.58mi	3/1.0	912 (+3%)	11mo	$100,000	$110	52
3435 33rd Pl N	0.56mi	3/1.0	816 (-8%)	9mo	$75,000	$92	45
1741 34th St W	0.64mi	2/1.0 (-1)	804 (-10%)	19mo	$39,620	$49	25
3426 31st Pl N	0.58mi	3/1.0	1,008 (+14%)	23mo	$8,500	$8	23
3428 30th Way N	0.63mi	2/1.0 (-1)	754 (-15%)	15mo	$37,000	$49	20

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 3.19×
• Total profit: $33,786
• Equity at exit: $49,548

10-year hold

• IRR: 24.2%
• Equity multiple: 7.31×
• Total profit: $97,190
• Equity at exit: $106,853

Cash invested: $15,400 (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 35207

• Home prices YoY: 18.7%
• Active inventory: 42
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,047 high
• Mortgage (P&I): −$288
• Tax from tax record: −$33 /mo · $394/yr
• Insurance: −$23
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $56

Break-even live

Break-even rent $976

Max offer price $55,000

Occupancy floor 90%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3373 33rd Pl N Birmingham, AL	3.0	1.0	912	$1,150	$1.26	3d	1	0.41mi
3376 34th St N Birmingham, AL	3.0	1.0	928	$1,200	$1.29	11d	1	0.41mi
3376 34th St N Birmingham, AL	3.0	2.0	928	$1,200	$1.29	23d	1	0.41mi
3376 34th Ave N Birmingham, AL	3.0	2.0	928	$1,200	$1.29	2d	1	0.43mi
2129 30th Pl N Birmingham, AL	3.0	1.0	1042	$1,000	$0.96	23d	1	0.56mi
3016 33rd Ct N Birmingham, AL	3.0	1.0	1012	$1,100	$1.09	43d	1	0.62mi
3311 16th Ave N Unit 3323 Birmingham, AL	2.0	1.0	750	$850	$1.13	1d	1	0.73mi
3311 16th Ave N Unit 3317 Birmingham, AL	2.0	1.0	750	$850	$1.13	43d	1	0.73mi
3311 16th Ave N Unit 3321 Birmingham, AL	2.0	1.0	750	$850	$1.13	23d	1	0.73mi
3509 Norwood Blvd Birmingham, AL	2.0	1.0	943	$1,100	$1.17	3d	1	0.82mi
3001 Norwood Blvd Birmingham, AL	2.0	2.0	1092	$1,500	$1.37	3d	1	0.86mi
1405 33rd St N Birmingham, AL	3.0	1.0	952	$990	$1.04	23d	1	0.92mi
1444 31st St N Birmingham, AL	4.0	1.0	1014	$1,295	$1.28	23d	1	0.97mi
3708 42nd Ave N Birmingham, AL	3.0	1.0	876	$950	$1.08	43d	1	1.02mi
2608 20th Ave N Birmingham, AL	2.0	1.0	750	$895	$1.19	43d	1	1.07mi
2608 20th Ave N Unit 5 Birmingham, AL	2.0	1.0	750	$875	$1.17	43d	1	1.07mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	1d	1	1.19mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	2d	1	1.19mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	10d	1	1.19mi
4316 Gadsden St Birmingham, AL	2.0	1.0	1048	$1,100	$1.05	3d	1	1.24mi
2400 19th Ave N Unit B Birmingham, AL	2.0	1.0	750	$850	$1.13	21d	1	1.27mi
3944 40th St N Unit A Birmingham, AL	2.0	1.0	625	$675	$1.08	43d	1	1.33mi
3944 40th St N Unit A Birmingham, AL	2.0	1.0	625	$699	$1.12	1d	1	1.33mi
2300 21st Ave N Birmingham, AL	2.0	1.0	700	$880	$1.26	43d	2	1.34mi
1017 Cahaba St Birmingham, AL	2.0	2.0	1035	$1,350	$1.30	3d	1	1.34mi
2000 Stouts Rd Birmingham, AL	2.0	1.0	700	$880	$1.26	43d	2	1.38mi
4244 Jackson St Birmingham, AL	3.0	1.0	858	$1,100	$1.28	43d	1	1.41mi
1911 19th Ct N Apt 1 Birmingham, AL	2.0	1.0	750	$845	$1.13	11d	1	1.44mi
2129 30th Ave N Birmingham, AL	3.0	1.0	1042	$1,000	$0.96	43d	1	1.44mi
2413 14th Ave N Birmingham, AL	2.0	1.0	720	$675	$0.94	1d	3	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $55,000 Active 44 DOM
2. 2026-06-17
   days on market $55,000 Active 43 DOM
3. 2026-06-16
   days on market $55,000 Active 42 DOM
4. 2026-06-15
   days on market $55,000 Active 41 DOM
5. 2026-06-13
   days on market $55,000 Active 39 DOM
6. 2026-06-10
   days on market $55,000 Active 36 DOM
7. 2026-06-09
   days on market $55,000 Active 35 DOM
8. 2026-06-08
   days on market $55,000 Active 34 DOM
9. 2026-06-07
   days on market $55,000 Active 33 DOM
10. 2026-06-03
    days on market $55,000 Active 29 DOM
11. 2026-06-02
    days on market $55,000 Active 28 DOM
12. 2026-06-01
    days on market $55,000 Active 27 DOM
13. 2026-06-01
    statusdays on market $55,000 Active 26 DOM
14. 2026-01-29
    price $56,000
15. 2019-01-16
    soldstatus $7,500 Sold 155-char remark

    Show marketing remark (155 chars)

    This would be a good investment property. Three bedrooms, one bath, good sized kitchen. Finish what someone started and make this a part of your portfolio.

16. 2018-12-26
    historical 155-char remark

    Show marketing remark (155 chars)

    This would be a good investment property. Three bedrooms, one bath, good sized kitchen. Finish what someone started and make this a part of your portfolio.

17. 2018-12-12
    price $5,000 155-char remark

    Show marketing remark (155 chars)

    This would be a good investment property. Three bedrooms, one bath, good sized kitchen. Finish what someone started and make this a part of your portfolio.

18. 2018-09-21
    price $8,500 155-char remark

    Show marketing remark (155 chars)

    This would be a good investment property. Three bedrooms, one bath, good sized kitchen. Finish what someone started and make this a part of your portfolio.

19. 2018-08-17
    listed $10,000 Active 155-char remark

    Show marketing remark (155 chars)

    This would be a good investment property. Three bedrooms, one bath, good sized kitchen. Finish what someone started and make this a part of your portfolio.

20. 2018-06-27
    price $10,000
21. 1993-02-22
    soldstatus $32,507

ⓘ 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: $394 · $33/mo
• Projected year-2 tax: $394 · $33/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 5/10 Major FEMA zone AE · 40% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,560
• − Mortgage interest: −$3,081
• − Property taxes: −$394
• − Insurance: −$5,394
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$1,600
• Taxable income: $82
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $654/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): 6,824

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 (86%)
• Race & ethnicity: Black 86% White 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 1% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 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: ▲ 35.95%
• Current HPI: 228.5664
• 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

+72.3% since first listed

8 events — show timeline

• 2026-01-29 Price Changed $56,000 Greater Alabama MLS
• 2019-01-16 Sold (MLS) $7,500 Greater Alabama MLS
• 2018-12-26 Delisted — Greater Alabama MLS
• 2018-12-12 Price Changed $5,000 Greater Alabama MLS
• 2018-09-21 Price Changed $8,500 Greater Alabama MLS
• 2018-08-17 Listed $10,000 Greater Alabama MLS
• 2018-06-27 Price Changed $10,000 Greater Alabama MLS
• 1993-02-22 Sold (Public Records) $32,507 Public Records

Property tax history

+4.7%/yr

Latest (2025): $394 · +0.0% YoY. Source: county tax records.