1345 24th Ave N · Birmingham, AL 35204

$85,000

3 bd · 2.0 ba · 1,746 sqft · SingleFamily public records · 153 Days on market

Built 1964 6,098 sqft lot $49/sqft · 23% above area Est $69k · 23% over

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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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +8.6/10.0
• 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 +0.0/15.0

Listing remarks MLS

The before and after of this property should be featured on HGTV!! Hopefully the new owners will invite me to experience the transition. This 3-bedroom 2-bathroom home with formal living room, dining room, den upstairs and bonus room downstairs is a ROCK. Home is currently filled with relics belonging to the owners but will be a blank canvas by the time we close. (Note to investors and wholesalers: sellers are not interested in creative financing or owner held financing. But, I'm sure you will inquire anyway. )

Key facts

• 6,098 sq ft lot
• Garage
• Built 1964

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: 64 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% 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 39% 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 $1k of equity ($588 loan paydown + $545 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 $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.36% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 6.1

CMA / ARV

• ARV (median comp): $68,885
• List price: $85,000
• Delta: 23.39%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2320 16th St N	0.03mi	3/2.0	1,734 (-1%)	1mo	$77,000	$44	96

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: 13.5%
• Equity multiple: 1.67×
• Total profit: $16,000
• Equity at exit: $27,441

10-year hold

• IRR: 17.5%
• Equity multiple: 3.05×
• Total profit: $48,738
• Equity at exit: $35,277

Cash invested: $23,800 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$446
• Tax from tax record: −$182 /mo · $2,179/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $249

Break-even live

Break-even rent $839

Max offer price $85,000

Occupancy floor 73%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 19 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	0.46mi
1742 17th St N Unit 2 Birmingham, AL	3.0	2.0	1300	$1,500	$1.15	16d	1	0.49mi
2212 20th St N Birmingham, AL	3.0	1.0	1141	$895	$0.78	44d	1	0.57mi
353 16th Ave N Birmingham, AL	3.0	1.0	1200	$995	$0.83	44d	1	0.62mi
1608 18th Pl N Birmingham, AL	3.0	2.0	1243	$950	$0.76	44d	1	0.77mi
1900 15th Ct N Birmingham, AL	4.0	2.0	1748	$1,425	$0.82	44d	1	0.81mi
1906 15th Ct N Birmingham, AL	2.0	1.0	1311	$1,000	$0.76	23d	1	0.82mi
1520 34th Ave N Birmingham, AL	4.0	2.0	1736	$1,375	$0.79	23d	1	0.84mi
1721 35th Ave N Birmingham, AL	2.0	1.0	1184	$875	$0.74	44d	1	0.90mi
2108 25th St N Birmingham, AL	4.0	2.0	1446	$1,300	$0.90	44d	1	0.90mi
1317 11th St N Birmingham, AL	3.0	1.0	1340	$1,200	$0.90	44d	1	0.94mi
3417 4th St W Birmingham, AL	3.0	2.0	1275	$1,000	$0.78	44d	1	1.00mi
2015 36th Ave N Birmingham, AL	3.0	1.0	1468	$1,190	$0.81	23d	1	1.05mi
1216 4th Pl N Birmingham, AL	3.0	2.0	1565	$1,150	$0.73	44d	1	1.12mi
2223 28th St N Birmingham, AL	4.0	2.0	1836	$1,300	$0.71	44d	1	1.13mi
1153 2nd St N Birmingham, AL	3.0	1.0	1056	$1,150	$1.09	19d	1	1.17mi
3732 4th St W Birmingham, AL	4.0	1.0	1185	$900	$0.76	44d	1	1.26mi
537 37th Ter W Birmingham, AL	3.0	1.0	1060	$1,000	$0.94	44d	1	1.41mi
3001 Norwood Blvd Birmingham, AL	2.0	2.0	1092	$1,500	$1.37	3d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $85,000 Active 153 DOM
2. 2026-06-17
   days on market $85,000 Active 152 DOM
3. 2026-06-16
   days on market $85,000 Active 151 DOM
4. 2026-06-15
   days on market $85,000 Active 150 DOM
5. 2026-06-13
   pricedays on market $85,000 Active 148 DOM
6. 2026-06-10
   days on market $100,000 Active 145 DOM
7. 2026-06-09
   days on market $100,000 Active 144 DOM
8. 2026-06-08
   days on market $100,000 Active 143 DOM
9. 2026-06-07
   days on market $100,000 Active 142 DOM
10. 2026-06-03
    days on market $100,000 Active 138 DOM
11. 2026-06-02
    days on market $100,000 Active 137 DOM
12. 2026-06-01
    days on market $100,000 Active 136 DOM
13. 2026-05-31
    days on market $100,000 Active 135 DOM
14. 2026-02-26
    price $100,000 516-char remark

    Show marketing remark (516 chars)

    The before and after of this property should be featured on HGTV!! Hopefully the new owners will invite me to experience the transition. This 3-bedroom 2-bathroom home with formal living room, dining room, den upstairs and bonus room downstairs is a ROCK. Home is currently filled with relics belonging to the owners but will be a blank canvas by the time we close. (Note to investors and wholesalers: sellers are not interested in creative financing or owner held financing. But, I'm sure you will inquire anyway. )

15. 2026-01-16
    listed $110,000 Active 516-char remark

    Show marketing remark (516 chars)

    The before and after of this property should be featured on HGTV!! Hopefully the new owners will invite me to experience the transition. This 3-bedroom 2-bathroom home with formal living room, dining room, den upstairs and bonus room downstairs is a ROCK. Home is currently filled with relics belonging to the owners but will be a blank canvas by the time we close. (Note to investors and wholesalers: sellers are not interested in creative financing or owner held financing. But, I'm sure you will inquire anyway. )

16. 2025-05-19
    price $100,000

ⓘ 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: $2,179 · $182/mo
• Projected year-2 tax: $2,179 · $182/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: $13,843
• − Mortgage interest: −$4,761
• − Property taxes: −$2,179
• − Insurance: −$425
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$2,473
• Taxable income: $1,789
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $2,553/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

+0.0% since first listed

3 events — show timeline

• 2026-02-26 Price Changed $100,000 Greater Alabama MLS
• 2026-01-16 Listed $110,000 Greater Alabama MLS
• 2025-05-19 Price Changed $100,000 Greater Alabama MLS

Property tax history

+5.8%/yr

Latest (2025): $2,179 · +0.0% YoY. Source: county tax records.