1509 7th Way NW · Birmingham, AL 35215

$119,900

3 bd · 1.5 ba · 1,164 sqft · SingleFamily public records · 118 Days on market

Built 1980 0.25 ac lot $103/sqft · 21% below area Est $153k · 21% under

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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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.7/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This inviting single-story home is set on a spacious, tree-filled lot and features a welcoming covered front porch with decorative railing and a bold entry door. The exterior offers light siding, mature shade trees, and a detached storage building for added functionality. Inside, you’ll find an open layout with neutral wall tones, white trim, and abundant natural light from multiple windows. The kitchen includes white cabinetry, laminate countertops, black appliances, and a dedicated dining area with updated lighting. Comfortable bedrooms feature carpeting and ample closet space, while the bathrooms offer practical layouts and bright finishes, creating a functional and versatile living environment.

Key facts

• Covered front porch
• Ample closet space
• Open layout

Tags

• COVERED FRONT PORCH
• DETACHED STORAGE BUILDING
• OPEN LAYOUT
• WHITE CABINETRY
• DEDICATED DINING AREA
• AMPLE CLOSET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Rents rising (+3.0%/yr); 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $829 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 118 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

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 $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.8

CMA / ARV

• ARV (median comp): $152,647
• List price: $119,900
• Delta: -21.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1240 Lynn Acres Dr	0.39mi	3/1.5	1,224 (+5%)	6mo	$168,000	$137	68
1360 5th Pl NW	0.55mi	3/1.0	1,220 (+5%)	1mo	$92,500	$76	63
1209 Rose Lynn Ln	0.50mi	3/1.0	1,080 (-7%)	0mo	$150,000	$139	62
512 16th Ter NW	0.67mi	3/2.0	1,225 (+5%)	1mo	$183,000	$149	58
1317 5th Pl NW	0.63mi	3/1.0	1,086 (-7%)	1mo	$92,500	$85	56
536 16th Ter NW	0.59mi	3/2.0	1,225 (+5%)	7mo	$155,000	$127	56
1128 Cardwell Ln	0.67mi	3/1.0	1,225 (+5%)	4mo	$93,500	$76	55
628 16th Ct NW	0.36mi	3/2.0	1,323 (+14%)	5mo	$165,000	$125	54
421 Wedgeworth Rd	0.72mi	3/1.5	1,092 (-6%)	2mo	$116,400	$107	54
1622 5th St NW	0.65mi	3/2.0	1,227 (+5%)	7mo	$90,000	$73	52
1529 5th Pl NW	0.54mi	3/1.0	1,055 (-9%)	9mo	$88,000	$83	50
549 16th Ave NW	0.44mi	3/2.0	1,314 (+13%)	8mo	$174,900	$133	49

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 · 3.04% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-5,333
• Equity at exit: $17,877

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $13,639
• Equity at exit: $10,367

Cash invested: $33,572 (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 35215

• Home prices YoY: -34.4%
• Rents YoY: 3.0%
• Active inventory: 334
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,278 high
• Mortgage (P&I): −$629
• Tax from tax record: −$110 /mo · $1,322/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $221

Break-even live

Break-even rent $999

Max offer price $119,900

Occupancy floor 78%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
769 15th Ct NW Birmingham, AL	3.0	1.5	1130	$1,310	$1.16	11d	1	0.11mi
621 15th Ave NW Birmingham, AL	4.0	2.0	1070	$1,200	$1.12	15d	1	0.31mi
500 15th Ave NW Center Point, AL	3.0	1.0	1079	$1,050	$0.97	2d	1	0.52mi
1612 Glenwood St NW Center Point, AL	4.0	3.0	1344	$1,480	$1.10	23d	1	0.53mi
1356 5th Pl NW Center Point, AL	3.0	1.0	1064	$1,105	$1.04	43d	1	0.55mi
1328 5th Pl NW Center Point, AL	3.0	1.0	1250	$1,050	$0.84	15d	1	0.58mi
1333 5th Pl NW Center Point, AL	3.0	2.0	1056	$1,275	$1.21	43d	1	0.60mi
1305 5th Pl NW Center Point, AL	3.0	2.0	1092	$1,200	$1.10	43d	1	0.64mi
1301 5th Pl NW Center Point, AL	3.0	1.0	1170	$1,100	$0.94	3d	1	0.65mi
400 13th Ave NW Birmingham, AL	2.0	1.0	1100	$890	$0.81	43d	1	0.68mi
1732 6th St NW Center Point, AL	3.0	1.5	1300	$1,250	$0.96	2d	1	0.69mi
434 15th Ter NW Center Point, AL	3.0	2.0	1053	$1,200	$1.14	43d	1	0.71mi
217 Killough Dr Birmingham, AL	3.0	2.0	1212	$1,200	$0.99	14d	1	0.74mi
1801 Carson Rd Unit 2 Birmingham, AL	2.0	1.0	800	$600	$0.75	10d	1	0.75mi
1232 Oakwood St Birmingham, AL	3.0	1.5	1301	$1,223	$0.94	23d	1	0.76mi
1821 Carson Rd Unit 2 Birmingham, AL	2.0	1.5	800	$765	$0.96	43d	1	0.80mi
1821 Carson Rd Unit 3 Birmingham, AL	2.0	1.5	800	$580	$0.72	21d	1	0.80mi
1827 Carson Rd Unit 7 Birmingham, AL	3.0	2.5	1332	$950	$0.71	23d	1	0.82mi
1827 Carson Rd Unit 1 Birmingham, AL	3.0	2.5	1332	$1,125	$0.84	43d	1	0.82mi
324 13th Ter NW Center Point, AL	3.0	1.5	1418	$1,295	$0.91	23d	1	0.83mi
405 13th Ct NW Center Point, AL	4.0	1.5	1248	$1,415	$1.13	21d	1	0.84mi
1225 Birchwood St Birmingham, AL	3.0	2.0	1092	$1,175	$1.08	3d	1	0.85mi
1700 4th Pl NW Center Point, AL	3.0	1.0	914	$1,075	$1.18	23d	1	0.87mi
1712 4th Pl NW Center Point, AL	3.0	1.0	1182	$1,150	$0.97	23d	1	0.87mi
1237 Linwood St Birmingham, AL	3.0	1.5	1066	$995	$0.93	43d	1	0.89mi
1617 3rd Pl NW Center Point, AL	3.0	2.0	1404	$1,150	$0.82	23d	1	0.91mi
433 Orchid Rd Birmingham, AL	3.0	1.0	1162	$1,255	$1.08	15d	1	0.92mi
1153 Linwood St Birmingham, AL	3.0	2.0	1250	$1,295	$1.04	2d	1	0.96mi
241 Mamie Ln Birmingham, AL	3.0	2.0	1242	$1,495	$1.20	3d	1	0.96mi
108 13th Ave NW Center Point, AL	4.0	2.0	1444	$1,265	$0.88	23d	1	1.02mi
405 18th Ave NW Center Point, AL	3.0	2.0	1162	$1,299	$1.12	43d	1	1.04mi
1112 Violet Dr Birmingham, AL	3.0	2.0	1414	$1,600	$1.13	11d	1	1.05mi
1208 Americana Dr Birmingham, AL	3.0	2.0	1104	$1,631	$1.48	11d	1	1.05mi
848 Old Trail Rd Birmingham, AL	2.0	1.5	930	$925	$0.99	23d	1	1.09mi
120 Shawnee Ln NW Birmingham, AL	3.0	1.0	1120	$1,075	$0.96	43d	1	1.12mi
208 Sam Pate Dr Birmingham, AL	3.0	2.0	988	$1,385	$1.40	1d	1	1.18mi
46 Sunscape Dr Birmingham, AL	4.0	2.0	1178	$1,450	$1.23	43d	1	1.19mi
305 18th Ct NW Center Point, AL	3.0	1.5	1270	$1,100	$0.87	43d	1	1.20mi
40 Sunscape Dr Birmingham, AL	3.0	2.0	1283	$1,555	$1.21	1d	1	1.22mi
1628 1st St NW Center Point, AL	3.0	1.0	1124	$1,150	$1.02	43d	1	1.22mi

Listing history 25 events

1. 2026-06-18
   days on market $119,900 Active 118 DOM
2. 2026-06-17
   days on market $119,900 Active 117 DOM
3. 2026-06-16
   days on market $119,900 Active 116 DOM
4. 2026-06-15
   days on market $119,900 Active 115 DOM
5. 2026-06-13
   pricedays on market $119,900 Active 113 DOM
6. 2026-06-10
   days on market $134,900 Active 110 DOM
7. 2026-06-09
   days on market $134,900 Active 109 DOM
8. 2026-06-08
   days on market $134,900 Active 108 DOM
9. 2026-06-07
   days on market $134,900 Active 107 DOM
10. 2026-06-03
    days on market $134,900 Active 103 DOM
11. 2026-06-02
    days on market $134,900 Active 102 DOM
12. 2026-06-01
    days on market $134,900 Active 101 DOM
13. 2026-05-31
    days on market $134,900 Active 100 DOM
14. 2026-05-15
    price $134,900 713-char remark

    Show marketing remark (713 chars)

    This inviting single-story home is set on a spacious, tree-filled lot and features a welcoming covered front porch with decorative railing and a bold entry door. The exterior offers light siding, mature shade trees, and a detached storage building for added functionality. Inside, you’ll find an open layout with neutral wall tones, white trim, and abundant natural light from multiple windows. The kitchen includes white cabinetry, laminate countertops, black appliances, and a dedicated dining area with updated lighting. Comfortable bedrooms feature carpeting and ample closet space, while the bathrooms offer practical layouts and bright finishes, creating a functional and versatile living environment.

15. 2026-05-01
    price $139,900 713-char remark

    Show marketing remark (713 chars)

    This inviting single-story home is set on a spacious, tree-filled lot and features a welcoming covered front porch with decorative railing and a bold entry door. The exterior offers light siding, mature shade trees, and a detached storage building for added functionality. Inside, you’ll find an open layout with neutral wall tones, white trim, and abundant natural light from multiple windows. The kitchen includes white cabinetry, laminate countertops, black appliances, and a dedicated dining area with updated lighting. Comfortable bedrooms feature carpeting and ample closet space, while the bathrooms offer practical layouts and bright finishes, creating a functional and versatile living environment.

16. 2026-04-18
    price $144,900 713-char remark

    Show marketing remark (713 chars)

    This inviting single-story home is set on a spacious, tree-filled lot and features a welcoming covered front porch with decorative railing and a bold entry door. The exterior offers light siding, mature shade trees, and a detached storage building for added functionality. Inside, you’ll find an open layout with neutral wall tones, white trim, and abundant natural light from multiple windows. The kitchen includes white cabinetry, laminate countertops, black appliances, and a dedicated dining area with updated lighting. Comfortable bedrooms feature carpeting and ample closet space, while the bathrooms offer practical layouts and bright finishes, creating a functional and versatile living environment.

17. 2026-04-08
    price $149,900 713-char remark

    Show marketing remark (713 chars)

    This inviting single-story home is set on a spacious, tree-filled lot and features a welcoming covered front porch with decorative railing and a bold entry door. The exterior offers light siding, mature shade trees, and a detached storage building for added functionality. Inside, you’ll find an open layout with neutral wall tones, white trim, and abundant natural light from multiple windows. The kitchen includes white cabinetry, laminate countertops, black appliances, and a dedicated dining area with updated lighting. Comfortable bedrooms feature carpeting and ample closet space, while the bathrooms offer practical layouts and bright finishes, creating a functional and versatile living environment.

18. 2026-02-20
    listed $154,900 Active 713-char remark

    Show marketing remark (713 chars)

    This inviting single-story home is set on a spacious, tree-filled lot and features a welcoming covered front porch with decorative railing and a bold entry door. The exterior offers light siding, mature shade trees, and a detached storage building for added functionality. Inside, you’ll find an open layout with neutral wall tones, white trim, and abundant natural light from multiple windows. The kitchen includes white cabinetry, laminate countertops, black appliances, and a dedicated dining area with updated lighting. Comfortable bedrooms feature carpeting and ample closet space, while the bathrooms offer practical layouts and bright finishes, creating a functional and versatile living environment.

19. 2017-01-13
    soldstatus $641,500
20. 2017-01-13
    soldstatus $5,001,000
21. 2016-04-20
    soldstatus $50,000
22. 2006-06-15
    soldstatus $85,500
23. 2006-06-15
    soldstatus $85,500
24. 1998-05-28
    soldstatus $66,900
25. 1994-06-01
    soldstatus $56,852

ⓘ 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: $1,322 · $110/mo
• Projected year-2 tax: $1,322 · $110/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 3/10 Moderate
• 🌡 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 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,335
• − Mortgage interest: −$6,716
• − Property taxes: −$1,322
• − Insurance: −$600
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$3,488
• Taxable income: $755
• Est. tax owed @ 24.0%: −$181
• After-tax cash flow: $2,466/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: 43,903
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 43,903
• Household income: $52,793
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1729.0

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 (75%)
• Race & ethnicity: Black 75% White 15% Hispanic / Latino 7% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -112.97%
• Current HPI: 215.0607
• Rent YoY: ▲ 3.04%
• 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

+137.3% since first listed

12 events — show timeline

• 2026-05-15 Price Changed $134,900 Greater Alabama MLS
• 2026-05-01 Price Changed $139,900 Greater Alabama MLS
• 2026-04-18 Price Changed $144,900 Greater Alabama MLS
• 2026-04-08 Price Changed $149,900 Greater Alabama MLS
• 2026-02-20 Listed $154,900 Greater Alabama MLS
• 2017-01-13 Sold (Public Records) $5,001,000 Public Records
• 2017-01-13 Sold (Public Records) $641,500 Public Records
• 2016-04-20 Sold (Public Records) $50,000 Public Records
• 2006-06-15 Sold (Public Records) $85,500 Public Records
• 2006-06-15 Sold (Public Records) $85,500 Public Records
• 1998-05-28 Sold (Public Records) $66,900 Public Records
• 1994-06-01 Sold (Public Records) $56,852 Public Records

Property tax history

+11.3%/yr

Latest (2025): $1,322 · +0.0% YoY. Source: county tax records.