2324 Beulah Ave SW · Birmingham, AL 35211

$125,000

3 bd · 2.0 ba · 1,511 sqft · SingleFamily public records · 5 Days on market

Built 1984 8,712 sqft lot Est $89k · 40% over

---

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 +23.7/30.0
• DSCR +7.6/10.0
• 1% rule +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Come see this beautifully updated home offering flexible living spaces and a layout perfect for multigenerational living, guests, or a growing family. 4 Bedrooms 2 Bathrooms Modern Kitchen with Island & Stainless-Steel Appliances Converted Garage Den 2 Bedrooms & 1 Bath Upstairs 2 Bedrooms & 1 Bath Downstairs The kitchen features sleek updates, an island ideal for meal prep or entertaining, and stainless-steel appliances that give the space a fresh, modern feel. The converted garage adds a cozy downstairs den perfect for movie nights, a playroom, or a private retreat. This home offers comfort, versatility, and room for everyone. Ready to take a tour and see it in person?

Key facts

• Converted garage
• Cozy downstairs den
• Modern kitchen

Tags

• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• CONVERTED GARAGE
• COZY DOWNSTAIRS DEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 8.6% 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: West End Academy (math 2% / reading 12%, grade F, #601 of 627 statewide, top 98%, 503 students, 81% FRL); Wenonah High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 656 students, 85% FRL) — zoned schools at 83% FRL track the district average.
• Market conditions: Rents soft (-0.0%/yr); 154 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 43% of the median local income ($35k/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 $864 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $74k; list at $125k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $125,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 1.00% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.18%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $89,149
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2312 Beulah Ave SW	0.03mi	3/2.0	1,488 (-2%)	1mo	$88,400	$59	95
820 28th St SW	0.32mi	3/1.5	1,440 (-5%)	4mo	$170,000	$118	71
829 28th St SW	0.30mi	3/1.0	1,380 (-9%)	2mo	$86,000	$62	65
915 19th Pl SW	0.38mi	4/1.0 (+1)	1,434 (-5%)	2mo	$20,000	$14	63
724 18th Pl SW	0.61mi	4/2.0 (+1)	1,508 (-0%)	4mo	$48,900	$32	62
2800 Steiner Ave SW	0.47mi	3/2.0	1,340 (-11%)	2mo	$135,000	$101	58
1216 18th Way SW	0.35mi	2/3.0 (-1)	1,654 (+10%)	2mo	$65,500	$40	57
1236 18th St SW	0.48mi	3/2.0	1,328 (-12%)	3mo	$107,250	$81	55
3213 Lee Ave SW	0.70mi	3/2.0	1,653 (+9%)	2mo	$60,000	$36	50
1236 Mims St SW	0.55mi	4/2.0 (+1)	1,695 (+12%)	1mo	$168,000	$99	48
2729 Powderly Ave SW	0.62mi	3/1.0	1,724 (+14%)	0mo	$35,000	$20	43
914 18th Way	0.45mi	2/1.0 (-1)	1,730 (+14%)	4mo	$45,000	$26	42

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.75×
• Total profit: $-8,789
• Equity at exit: $18,638

10-year hold

• IRR: -1.2%
• Equity multiple: 0.93×
• Total profit: $-2,510
• Equity at exit: $10,808

Cash invested: $35,000 (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 35211

• Rents YoY: -0.0%
• Active inventory: 154
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$656
• Tax from tax record: −$46 /mo · $553/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $239

Break-even live

Break-even rent $954

Max offer price $125,000

Occupancy floor 76%

Sensitivity live

Price	-10% $309	-5% $274	+0% $239	+5% $203	+10% $168
Rent	-10% $139	-5% $189	+0% $239	+5% $288	+10% $338
Rate	-1.0pp $302	-0.5pp $270	base $239	+0.5pp $206	+1.0pp $173

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2304 Beulah Ave SW Birmingham, AL	3.0	1.0	1283	$1,025	$0.80	3d	1	0.06mi
2320 Wesley Ave SW Birmingham, AL	4.0	1.0	1865	$1,200	$0.64	11d	1	0.07mi
407 S Park Rd SW Birmingham, AL	3.0	1.0	1050	$900	$0.86	45d	1	0.28mi
1209 19th Pl SW Birmingham, AL	3.0	1.0	1050	$1,275	$1.21	45d	1	0.28mi
805 29th St SW Birmingham, AL	4.0	2.0	1510	$1,300	$0.86	11d	1	0.36mi
805 29th St SW Birmingham, AL	4.0	2.0	1510	$1,300	$0.86	4d	1	0.36mi
709 30th St SW Birmingham, AL	3.0	1.0	1273	$1,000	$0.79	45d	1	0.39mi
312 25th St SW Birmingham, AL	4.0	1.0	1159	$1,000	$0.86	25d	1	0.40mi
1319 18th Way SW Birmingham, AL	4.0	2.0	1337	$1,345	$1.01	25d	1	0.41mi
2128 Mayfield Ave SW Birmingham, AL	3.0	1.0	1196	$1,200	$1.00	25d	1	0.51mi
2026 Lee Ct SW Birmingham, AL	3.0	1.0	1204	$1,100	$0.91	45d	1	0.54mi
1501 21st St SW Birmingham, AL	3.0	2.0	1758	$1,250	$0.71	45d	1	0.55mi
2516 Powderly Ave SW Birmingham, AL	3.0	1.0	1236	$1,050	$0.85	45d	1	0.57mi
2709 Powderly Ave SW Birmingham, AL	3.0	2.0	1056	$950	$0.90	25d	1	0.61mi
1669 19th Pl SW Birmingham, AL	4.0	2.0	1373	$1,325	$0.97	25d	1	0.63mi
3116 Steiner Ave SW Birmingham, AL	3.0	1.0	1362	$1,200	$0.88	45d	1	0.64mi
1633 29th St SW Birmingham, AL	3.0	2.0	1658	$1,200	$0.72	45d	1	0.67mi
1781 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1069	$950	$0.89	45d	1	0.69mi
5320 Ter Q Unit Q Birmingham, AL	3.0	2.0	1116	$1,250	$1.12	45d	1	0.71mi
2005 Snavely Ave SW Birmingham, AL	3.0	2.0	1380	$1,150	$0.83	45d	1	0.77mi
5219 Court Q Birmingham, AL	3.0	2.0	1082	$1,200	$1.11	20d	1	0.77mi
4817 Court R Birmingham, AL	3.0	2.0	1530	$1,300	$0.85	17d	1	0.81mi
2005 Dawson Ave SW Birmingham, AL	4.0	1.0	1508	$1,250	$0.83	20d	1	0.82mi
1000 17th Pl SW Birmingham, AL	3.0	2.0	1200	$1,275	$1.06	20d	1	0.83mi
4825 Avenue S Birmingham, AL	3.0	1.0	1310	$1,050	$0.80	17d	1	0.83mi
1900 Saint Charles Ave SW Birmingham, AL	4.0	2.0	1623	$1,350	$0.83	3d	1	0.84mi
1933 Saint Charles Ct SW Birmingham, AL	3.0	1.0	1106	$1,050	$0.95	25d	1	0.85mi
1734 Lee Ave SW Birmingham, AL	4.0	1.0	1142	$1,150	$1.01	20d	1	0.86mi
1757 48th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1164	$1,295	$1.11	4d	1	0.86mi
3000 Dawson Ave SW Birmingham, AL	3.0	1.0	1092	$925	$0.85	45d	1	0.87mi
4813 Court S Birmingham, AL	3.0	2.0	1118	$1,125	$1.01	45d	1	0.88mi
4801 Avenue S Birmingham, AL	3.0	1.0	1310	$1,000	$0.76	45d	1	0.88mi
1728 Princeton Ave SW Birmingham, AL	4.0	2.0	1334	$1,300	$0.97	45d	1	0.89mi
5713 Avenue P Unit P Birmingham, AL	3.0	1.0	1300	$1,100	$0.85	20d	1	0.90mi
1838 31st St SW Birmingham, AL	3.0	2.0	1400	$1,223	$0.87	17d	1	0.91mi
1816 Saint Charles Ave SW Birmingham, AL	3.0	1.0	1395	$1,295	$0.93	25d	1	0.91mi
4736 Court S Birmingham, AL	3.0	1.5	1300	$1,200	$0.92	4d	1	0.93mi
1632 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1337	$1,100	$0.82	45d	1	0.93mi
108 E Ann Dr SW Birmingham, AL	4.0	2.0	1628	$1,495	$0.92	25d	1	0.93mi
1632 51st St W Birmingham, AL	3.0	1.0	1337	$1,000	$0.75	3d	1	0.93mi

Listing history 5 events

1. 2026-03-30
   status Pending
2. 2026-03-24
   listed $125,000 Active
3. 2004-03-02
   soldstatus $74,000
4. 1998-03-09
   soldstatus $57,500
5. 1984-07-17
   soldstatus $50,000

ⓘ 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: $553 · $46/mo
• Projected year-2 tax: $553 · $46/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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,073
• − Mortgage interest: −$7,002
• − Property taxes: −$553
• − Insurance: −$625
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$3,636
• Taxable income: $845
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $2,660/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): 24,924
• Household income: $34,884
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2161.0

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 (77%)
• Race & ethnicity: Black 77% White 10% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8% 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: ▼ -49.29%
• Current HPI: 91.2903
• Rent YoY: ▬ -0.01%
• 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

+150.0% since first listed

5 events — show timeline

• 2026-03-30 Pending — Greater Alabama MLS
• 2026-03-24 Listed $125,000 Greater Alabama MLS
• 2004-03-02 Sold (Public Records) $74,000 Public Records
• 1998-03-09 Sold (Public Records) $57,500 Public Records
• 1984-07-17 Sold (Public Records) $50,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $553 · +0.0% YoY. Source: county tax records.