1598 Pleasant Grove Rd · Birmingham, AL 35061

$89,500

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 230 Days on market

Built 1961 0.34 ac lot Est $123k · 27% under ↓ 15% since listing

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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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Appreciation +7.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks

Well built 3 BR, 1 BA , CH & A, Carport with hardwood floors under the carpet, laundry room 4 Brick Sided Home setting on a large interior lot. priced below market value. Ideal for first time home buyers.

Key facts

• 0.34 acre lot
• Parking
• Built 1961

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Wylam Elementary School (math 2% / reading 12%, grade F, #601 of 627 statewide, top 98%, 371 students, 89% FRL).
• Market conditions: 16 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $4k of equity ($619 loan paydown + $4k appreciation (4.1% 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 (4.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 230 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.31% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.79%
• DSCR: 1.66
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $123,396
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1669 Pleasant Grove Rd	0.32mi	3/2.0	1,144 (+5%)	14mo	$135,000	$118	61
212 Cedar Cir	0.42mi	2/1.0 (-1)	1,184 (+8%)	1mo	$82,900	$70	60
223 Woodward Dr	0.39mi	3/1.0	988 (-10%)	7mo	$100,000	$101	60
1589 Carver St	0.40mi	3/1.0	957 (-12%)	5mo	$120,000	$125	57
399 Clio St	0.62mi	3/1.0	1,118 (+2%)	15mo	$115,000	$103	55
358 Five Acre Rd	0.67mi	3/1.0	1,118 (+2%)	15mo	$125,900	$113	52
1719 Robins St	0.70mi	3/1.5	1,152 (+6%)	15mo	$27,000	$23	44
3505 2nd St N	0.46mi	3/1.0	960 (-12%)	21mo	$110,000	$115	41
364 Five Acre Rd	0.71mi	3/2.0	1,232 (+13%)	8mo	$199,900	$162	35

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

Projected returns pro-forma

4.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 2.43×
• Total profit: $35,811
• Equity at exit: $45,928

10-year hold

• IRR: 23.7%
• Equity multiple: 4.74×
• Total profit: $93,664
• Equity at exit: $75,561

Cash invested: $25,060 (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 35061

• Home prices YoY: 1.8%
• Active inventory: 16
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,174 high
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $309

Break-even live

Break-even rent $783

Max offer price $89,500

Occupancy floor 69%

Sensitivity live

Price	-10% $371	-5% $340	+0% $309	+5% $278	+10% $247
Rent	-10% $216	-5% $262	+0% $309	+5% $355	+10% $402
Rate	-1.0pp $354	-0.5pp $332	base $309	+0.5pp $286	+1.0pp $262

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1565 Miles St Dolomite, AL	3.0	2.0	1120	$1,175	$1.05	17d	1	0.22mi
216 Pine St Bessemer, AL	3.0	2.0	1000	$1,200	$1.20	45d	1	0.41mi
200 Woodward Dr Bessemer, AL	3.0	1.0	900	$1,123	$1.25	3d	1	0.44mi
1401 9th Ave Birmingham, AL	3.0	2.0	1222	$1,200	$0.98	45d	1	1.08mi
1983 Townhouse Ln Bessemer, AL	2.0	2.0	1465	$1,100	$0.75	17d	1	1.20mi
406 Forest Rd Bessemer, AL	3.0	2.0	1200	$1,175	$0.98	16d	1	1.21mi
1207 7th Ave Pleasant Grove, AL	3.0	1.0	1362	$1,601	$1.18	3d	1	1.26mi
608 5th Ave Midfield, AL	3.0	1.0	1241	$795	$0.64	23d	1	1.33mi
1109 12th Ave Birmingham, AL	4.0	2.0	1217	$1,475	$1.21	4d	1	1.36mi
616 Rutledge Dr Birmingham, AL	3.0	1.0	1416	$1,095	$0.77	23d	1	1.36mi
1133 7th Ave Pleasant Grove, AL	3.0	2.0	1104	$1,250	$1.13	16d	1	1.37mi
617 8th Ave Birmingham, AL	4.0	2.0	1436	$1,350	$0.94	3d	1	1.39mi
806 12th Ave Birmingham, AL	3.0	1.0	1262	$1,075	$0.85	45d	1	1.46mi
605 10th Ave Birmingham, AL	3.0	1.0	1060	$850	$0.80	45d	1	1.48mi

Listing history 6 events

1. 2026-03-25
   status Pending
2. 2026-02-25
   price $89,500
3. 2026-01-20
   status Active
4. 2026-01-07
   historical
5. 2025-09-01
   price $94,500
6. 2025-07-24
   listed $105,000 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,086
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$448
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$2,604
• Taxable income: $2,425
• Est. tax owed @ 24.0%: −$582
• After-tax cash flow: $3,124/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): 1,633

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 (97%)
• Race & ethnicity: Black 97% White 3%
• Foreign-born: 0%

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: ▲ 4.10%
• Current HPI: 232.777
• 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

-14.8% since first listed

6 events — show timeline

• 2026-03-25 Pending — Greater Alabama MLS
• 2026-02-25 Price Changed $89,500 Greater Alabama MLS
• 2026-01-20 Relisted — Greater Alabama MLS
• 2026-01-07 Delisted — Greater Alabama MLS
• 2025-09-01 Price Changed $94,500 Greater Alabama MLS
• 2025-07-24 Listed $105,000 Greater Alabama MLS