186 Old Montgomery Hwy Unit C · Homewood, AL 35216

$149,900

1 bd · 1.0 ba · 788 sqft · Condo · 16 Days on market

Built 1969

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Why this score? — see what drove the C 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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• Schools +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

conveniently located 1 bedroom condo. The hallway has washer/dryer hook-ups. The bedroom has two closets. Perfect location to shopping, Brookwood Mall and Hospital, UAB, and Samford.

Key facts

• Completely remodeled
• Stainless appliances
• Shady back patio

Tags

• COMPLETELY REMODELED
• GRANITE
• STAINLESS APPLIANCES
• PORCELAIN BATH SURROUND
• SHADY BACK PATIO
• FRONT OFF-STREET PARKING

Property features AI

Finance

• Other: Located in the Foxcroft subdivision
• HOA & community: Monthly condo fee of $375; HOA fees include common grounds maintenance, pest control, and water

Exterior

• Parking: Assigned parking
• Utilities: Public water; Connected sewer; Electric water heater; Underground utilities; Internet service availability unknown
• Home design: Condo/Townhome, Unit C on level 1; 4-side brick construction; Slab foundation; Existing (previously built)
• Construction: 4-side brick exterior; Slab foundation
• Exterior features: Porch; Community in-ground pool; Street lights

Interior

• Kitchen: Dishwasher (built-in); Microwave (built-in); Refrigerator; Electric stove
• Bedrooms: Master bedroom (Main Level)
• Flooring: Tile
• Bathrooms: 1 full bathroom with tub/shower combo
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crown molding; Tile floors; Solid surface kitchen countertops; Eating area
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.3% in Homewood — 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 80/100 on livability (#5 in AL, #1,730 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Homewood City (suburban): math 55% / reading 74% proficiency, ranked #3 of 129 in AL (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shades Cahaba Elementary School (math 48% / reading 70%, grade B-, #67 of 627 statewide, top 11%, 501 students, 24% FRL); Homewood Middle School (math 52% / reading 76%, grade B+, #5 of 257 statewide, top 2%, 926 students, 30% FRL); Homewood High School (math 62% / reading 63%, grade B-, #4 of 305 statewide, top 1%, 1,330 students, 28% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 136 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 16 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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.
• Current owner paid $30k; list at $150k implies a 400% gain — meaningful room to come down on a strong offer.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.10% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.46%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-8,328
• Equity at exit: $22,351

10-year hold

• IRR: 3.8%
• Equity multiple: 1.27×
• Total profit: $11,495
• Equity at exit: $12,961

Cash invested: $41,972 (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: 136
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,641 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $261

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 79%

Sensitivity live

Price	-10% $364	-5% $313	+0% $261	+5% $209	+10% $157
Rent	-10% $131	-5% $196	+0% $261	+5% $326	+10% $391
Rate	-1.0pp $336	-0.5pp $299	base $261	+0.5pp $222	+1.0pp $182

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
153 Old Montgomery Hwy Vestavia Hills, AL	2.0	2.0	992	$1,800	$1.81	3d	1	0.13mi
150 Old Montgomery Hwy Unit 1 C Birmingham, AL	2.0	2.0	992	$1,750	$1.76	16d	1	0.14mi
150 Old Montgomery Hwy Birmingham, AL	2.0	2.0	970	$1,750	$1.80	3d	1	0.14mi
1301 Lakeshore Dr Homewood, AL	3.0	1.0–2.0	1175	$1,240	$1.06	3d	12	0.42mi
1903 Vestavia Ct Vestavia Hills, AL	1.0–3.0	1.0–2.0	1001	$1,095	$1.09	3d	6	0.71mi
3450 Manor Dr Homewood, AL	1.0–2.0	1.0–2.0	1050	$2,000	$1.90	4d	10	0.86mi
3421 Sandner Ct Unit D Homewood, AL	2.0	1.0	864	$1,800	$2.08	45d	1	0.91mi
3425 Sandner Ct Unit D Homewood, AL	2.0	1.0	864	$1,500	$1.74	45d	1	0.92mi
3441 Sandner Ct Homewood, AL	1.0	1.0	647	$1,500	$2.32	12d	1	0.93mi
3120 Lancaster Ct Unit A Homewood, AL	1.0	1.0	800	$2,499	$3.12	3d	1	1.10mi
1905 Courtney Dr Apt 15 Homewood, AL	1.0	1.0	565	$950	$1.68	45d	1	1.26mi
1860 Oxmoor Rd Unit 532 Homewood, AL	2.0	2.0	1118	$3,950	$3.53	4d	1	1.36mi

HOA detail condo

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

Listing history 11 events

1. 2026-06-18
   days on market $149,900 Active 16 DOM
2. 2026-06-17
   days on market $149,900 Active 15 DOM
3. 2026-06-16
   days on market $149,900 Active 14 DOM
4. 2026-06-15
   days on market $149,900 Active 13 DOM
5. 2026-06-13
   days on market $149,900 Active 11 DOM
6. 2026-06-10
   days on market $149,900 Active 8 DOM
7. 2026-06-09
   days on market $149,900 Active 7 DOM
8. 2026-06-08
   days on market $149,900 Active 6 DOM
9. 2026-06-07
   days on market $149,900 Active 5 DOM
10. 2026-06-02
    remarks 699-char remark
11. 2026-06-02
    listed $149,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,698
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$4,361
• Taxable income: $790
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $2,940/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: Homewood City
• NCES district ID: 0101760
• Math proficiency: 55% ▼ -20.00%
• Reading proficiency: 74% ▲ 6.00%
• Median HH income: $63,366
• Composite: 56.01/100
• National rank: #1189
• State rank: #3 of 129 in AL

Livability — Homewood

• Score: 80/100
• State rank: #5
• US rank: #1730

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homewood, AL
• County: Jefferson County · 527,445 people
• City population: 32,734
• 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

+260.3% since first listed

5 events — show timeline

• 2026-06-02 Listed $149,900 Greater Alabama MLS
• 2013-11-22 Sold (MLS) $30,000 WAMLS
• 2013-11-22 Sold (MLS) $30,000 Greater Alabama MLS
• 2013-05-22 Listed $41,600 WAMLS
• 2013-05-22 Listed $41,600 Greater Alabama MLS