1148 24th Ave N · Birmingham, AL 35204

$66,900

3 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 15 Days on market

Built 1948 6,250 sqft lot $49/sqft · 17% above area Est $57k · 17% over ↓ 33% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.1/15.0

Listing remarks

Investment opportunity in Birmingham with potential for homeowners and investors alike. Located just minutes from Downtown Birmingham, this property offers strong rental, flip, or primary residence potential. Features include a spacious backyard with a back patio, perfect for entertaining or relaxing. Convenient access to major highways, shopping, and employment centers. Property sold as is.

Key facts

• 6,250 sq ft lot
• Garage
• Listed 15 days

Property features AI

Finance

• Other: Approx. 1,360 living area (square feet); Contains one fireplace; Directions available from downtown Birmingham
• HOA & community: No homeowners association; Subdivision: 1st Add Watson

Exterior

• Parking: One-car garage; Concrete driveway
• Utilities: Public water; Central heat and air
• Home design: Single-family residence; One story; Residential property; Not new construction
• Construction: Aluminum siding; Built with crawl space
• Exterior features: 50 x 125 lot; Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: Crawl space foundation; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: George Washington Carver High School (math 2% / reading 17%, grade F, #252 of 305 statewide, top 84%, 531 students, 87% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: 64 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 35% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $892 of equity ($463 loan paydown + $429 appreciation (0.6% 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 (0.6% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,896 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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: 1.54% ✓
• Cap rate: 12.45%
• Cash-on-cash: 21.97%
• DSCR: 1.98
• GRM: 5.4

CMA / ARV

• ARV (median comp): $57,417
• List price: $66,900
• Delta: 16.52%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1148 24th Ave N	0.00mi	3/1.0	1,360 (0%)	1mo	$45,000	$33	100
1211 22nd Ave N	0.20mi	4/1.0 (+1)	1,392 (+2%)	10mo	$9,000	$6	73
1616 26th Ave N	0.29mi	4/1.5 (+1)	1,343 (-1%)	19mo	$77,000	$57	62
2314 11th Pl N	0.15mi	2/2.0 (-1)	1,324 (-3%)	23mo	$25,000	$19	60
1631 31st Ave N	0.59mi	3/2.0	1,448 (+6%)	2mo	$175,000	$121	56

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

Projected returns pro-forma

0.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 2.17×
• Total profit: $21,952
• Equity at exit: $21,598

10-year hold

• IRR: 26.6%
• Equity multiple: 4.12×
• Total profit: $58,483
• Equity at exit: $27,765

Cash invested: $18,732 (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 35204

• Home prices YoY: 0.3%
• Active inventory: 64
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,033 high
• Mortgage (P&I): −$351
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $343

Break-even live

Break-even rent $599

Max offer price $66,900

Occupancy floor 62%

Sensitivity live

Price	-10% $381	-5% $362	+0% $343	+5% $324	+10% $305
Rent	-10% $261	-5% $302	+0% $343	+5% $384	+10% $425
Rate	-1.0pp $377	-0.5pp $360	base $343	+0.5pp $326	+1.0pp $308

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: $16,725
• Closing costs: $2,007
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1625 29th Ave N Birmingham, AL	3.0	2.0	1140	$1,200	$1.05	16d	1	0.48mi
1742 17th St N Unit 2 Birmingham, AL	3.0	2.0	1300	$1,500	$1.15	16d	1	0.61mi
353 16th Ave N Birmingham, AL	3.0	1.0	1200	$995	$0.83	44d	1	0.64mi
2012 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	11d	1	0.65mi
2010 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	11d	1	0.65mi
2004 18th Pl N Unit 2004 Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.65mi
1994 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.66mi
1954 18th Pl N Birmingham, AL	2.0	1.0	900	$975	$1.08	44d	1	0.66mi
1940 18th Pl N Unit 1940 Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.66mi
1938 18th Pl N Unit 1938 Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.66mi
1906 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.67mi
1917 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.68mi
2212 20th St N Birmingham, AL	3.0	1.0	1141	$895	$0.78	44d	1	0.74mi
1909 18th St N Unit 1909 Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.76mi
1520 34th Ave N Birmingham, AL	4.0	2.0	1736	$1,375	$0.79	24d	1	0.80mi
2129 30th Ave N Birmingham, AL	3.0	1.0	1042	$1,000	$0.96	44d	1	0.86mi
3417 4th St W Birmingham, AL	3.0	2.0	1275	$1,000	$0.78	44d	1	0.88mi
1721 35th Ave N Birmingham, AL	2.0	1.0	1184	$875	$0.74	44d	1	0.89mi
1608 18th Pl N Birmingham, AL	3.0	2.0	1243	$950	$0.76	44d	1	0.90mi
424 34th Ave W Birmingham, AL	3.0	2.0	969	$1,050	$1.08	24d	1	0.92mi
1900 15th Ct N Birmingham, AL	4.0	2.0	1748	$1,425	$0.82	44d	1	0.95mi
1906 15th Ct N Birmingham, AL	2.0	1.0	1311	$1,000	$0.76	24d	1	0.95mi
1709 36th Ave N Birmingham, AL	3.0	1.0	970	$1,350	$1.39	44d	1	0.96mi
1576 20th St N Apt D Birmingham, AL	2.0	1.0	900	$725	$0.81	44d	1	0.98mi
1317 11th St N Birmingham, AL	3.0	1.0	1340	$1,200	$0.90	44d	1	0.99mi
2108 25th St N Birmingham, AL	4.0	2.0	1446	$1,300	$0.90	44d	1	1.07mi
2015 36th Ave N Birmingham, AL	3.0	1.0	1468	$1,190	$0.81	24d	1	1.07mi
1216 4th Pl N Birmingham, AL	3.0	2.0	1565	$1,150	$0.73	44d	1	1.13mi
1153 2nd St N Birmingham, AL	3.0	1.0	1056	$1,150	$1.09	19d	1	1.15mi
3732 4th St W Birmingham, AL	4.0	1.0	1185	$900	$0.76	44d	1	1.18mi
2223 28th St N Birmingham, AL	4.0	2.0	1836	$1,300	$0.71	44d	1	1.30mi
537 37th Ter W Birmingham, AL	3.0	1.0	1060	$1,000	$0.94	44d	1	1.31mi
517 11th Ct W Birmingham, AL	2.0	1.0	970	$795	$0.82	44d	1	1.41mi

Listing history 2 events

1. 2026-05-10
   status Pending 394-char remark
2. 2026-04-25
   listed $66,900 Active 394-char remark

ⓘ 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: $1,134 · $94/mo
• Projected year-2 tax: $1,134 · $94/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 7/10 Severe 7 d/yr ≥106°F today · 21 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 · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,398
• − Mortgage interest: −$3,747
• − Property taxes: −$1,134
• − Insurance: −$334
• − Repairs & maintenance: −$992
• − Management: −$992
• − Depreciation: −$1,946
• Taxable income: $3,252
• Est. tax owed @ 24.0%: −$781
• After-tax cash flow: $3,335/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): 8,953
• Household income: $35,420
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 422.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Hispanic / Latino 5% Two or more races 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▲ 0.64%
• Current HPI: 201.0777
• 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

-32.7% since first listed

3 events — show timeline

• 2026-06-04 Sold (MLS) $45,000 VMLS
• 2026-05-10 Pending — VMLS
• 2026-04-25 Listed $66,900 VMLS