2038 Montreat Cir Unit D · Vestavia Hills, AL 35216

$110,000

1 bd · 1.0 ba · 694 sqft · Condo · 17 Days on market

Built 1967

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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 +19.0/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Homeownership has never been so easy! This lovely condo is convenient, priced great (better than renting) , and move in ready! Freshly painted with beautiful laminate hardwoods and located on the second floor for peace and privacy, you cannot go wrong with this choice! This one will stand out and is priced to sell quickly! Large bathroom with linen closet, and double closets in the bedroom. Stainless appliances in the kitchen and a nice, open layout. Easy access to the interstate, everything HWY 31 has to offer and just 15 min to downtown! Give us a call and schedule your showing today!

Key facts

• Community pool
• Built 1967
• Listed 17 days

Property features AI

Finance

• Other: Property access via paved public road
• HOA & community: Monthly condo fee of $199; HOA covers garbage collection, common grounds maintenance, building insurance, management fee, pest control, recreation facility, reserves for improvements, and utilities for common areas

Exterior

• Parking: Assigned and unassigned uncovered parking
• Utilities: Public water; Connected sewer; Electric water heater; Internet service available
• Home design: Condominium unit (Unit D) on level 2; 4-side brick construction; Crawl space foundation; Existing construction
• Construction: 4-side brick construction; Crawl space foundation
• Exterior features: Community in-ground pool with perimeter fencing; Clubhouse; Swimming allowed; Interior lot with some trees; No waterfront; No deck; No patio; No garden/patio

Interior

• Kitchen: Eating area; Laminate countertops; Electric cooktop; Electric oven; Built-in microwave; Built-in dishwasher; Refrigerator; Stove (electric); Some stainless appliances
• Bedrooms: Bedroom on main level
• Flooring: Hardwood-look laminate; Tile floors
• Bathrooms: One full bathroom with tub/shower combo; Linen closet
• Heating & cooling: Central electric heating; Central electric cooling; Ceiling fans
• Interior features: Smooth ceilings; Some window treatments to remain; Attic
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.5% in Vestavia Hills — 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 84/100 on livability (#2 in AL, #827 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Vestavia Hills City (suburban): math 63% / reading 83% proficiency, ranked #2 of 129 in AL (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Vestavia Hills High School (math 71% / reading 69%, grade B+, #3 of 305 statewide, top 1%, 1,578 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent is only 18% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 17 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $110k implies a 83% gain — meaningful room to come down on a strong offer.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1967 — 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: 1.01% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• GRM: 8.3

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-11,014
• Equity at exit: $16,401

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-2,038
• Equity at exit: $9,511

Cash invested: $30,800 (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 35216

• Rents YoY: 2.6%
• Active inventory: 135
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,106 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $114

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 85%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2014 Montreat Pkwy Unit D Vestavia Hills, AL	1.0	1.0	690	$1,045	$1.51	3d	1	0.14mi
2014 Montreat Pkwy Vestavia Hills, AL	1.0	1.0	690	$1,045	$1.51	24d	1	0.14mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,137	$1.27	44d	1	0.25mi
1716 Vestawood Ct Unit 1722C Vestavia Hills, AL	1.0	1.0	697	$1,059	$1.52	44d	1	0.38mi
3101 Lorna Rd #1718 Hoover, AL	1.0	1.0	640	$1,095	$1.71	3d	1	0.69mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$899	$0.90	44d	1	0.73mi
2262-2284 Chapel Hill Rd Unit 2262-A Hoover, AL	1.0	1.0	686	$1,074	$1.57	44d	1	0.96mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-18
   days on market $110,000 Active 17 DOM
2. 2026-06-17
   days on market $110,000 Active 16 DOM
3. 2026-06-16
   days on market $110,000 Active 15 DOM
4. 2026-06-15
   days on market $110,000 Active 14 DOM
5. 2026-06-13
   days on market $110,000 Active 12 DOM
6. 2026-06-10
   days on market $110,000 Active 9 DOM
7. 2026-06-09
   days on market $110,000 Active 8 DOM
8. 2026-06-08
   days on market $110,000 Active 7 DOM
9. 2026-06-07
   days on market $110,000 Active 6 DOM
10. 2026-06-03
    days on market $110,000 Active 2 DOM
11. 2026-06-01
    statusdays on market $110,000 Active 1 DOM
12. 2026-05-31
    days on market $110,000 Coming Soon 3 DOM
13. 2026-05-28
    historical $110,000
14. 2018-08-17
    soldstatus $60,000 Sold 593-char remark

    Show marketing remark (593 chars)

    Homeownership has never been so easy! This lovely condo is convenient, priced great (better than renting) , and move in ready! Freshly painted with beautiful laminate hardwoods and located on the second floor for peace and privacy, you cannot go wrong with this choice! This one will stand out and is priced to sell quickly! Large bathroom with linen closet, and double closets in the bedroom. Stainless appliances in the kitchen and a nice, open layout. Easy access to the interstate, everything HWY 31 has to offer and just 15 min to downtown! Give us a call and schedule your showing today!

15. 2018-08-04
    historical Contingent 593-char remark

    Show marketing remark (593 chars)

    Homeownership has never been so easy! This lovely condo is convenient, priced great (better than renting) , and move in ready! Freshly painted with beautiful laminate hardwoods and located on the second floor for peace and privacy, you cannot go wrong with this choice! This one will stand out and is priced to sell quickly! Large bathroom with linen closet, and double closets in the bedroom. Stainless appliances in the kitchen and a nice, open layout. Easy access to the interstate, everything HWY 31 has to offer and just 15 min to downtown! Give us a call and schedule your showing today!

16. 2018-08-03
    listed $60,000 Active 593-char remark

    Show marketing remark (593 chars)

    Homeownership has never been so easy! This lovely condo is convenient, priced great (better than renting) , and move in ready! Freshly painted with beautiful laminate hardwoods and located on the second floor for peace and privacy, you cannot go wrong with this choice! This one will stand out and is priced to sell quickly! Large bathroom with linen closet, and double closets in the bedroom. Stainless appliances in the kitchen and a nice, open layout. Easy access to the interstate, everything HWY 31 has to offer and just 15 min to downtown! Give us a call and schedule your showing today!

ⓘ 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: $13,276
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$3,200
• Taxable loss: −$410
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $1,464/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: Vestavia Hills City
• NCES district ID: 0103430
• Math proficiency: 63% ▼ -19.00%
• Reading proficiency: 83% ▲ 4.00%
• Median HH income: $87,306
• Composite: 65.34/100
• National rank: #486
• State rank: #2 of 129 in AL

Livability — Vestavia Hills

• Score: 84/100
• State rank: #2
• US rank: #827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vestavia Hills, AL
• County: Jefferson County · 527,445 people
• City population: 34,327
• 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

+83.3% since first listed

4 events — show timeline

• 2026-05-28 Coming Soon $110,000 Greater Alabama MLS
• 2018-08-17 Sold (MLS) $60,000 Greater Alabama MLS
• 2018-08-04 Contingent — Greater Alabama MLS
• 2018-08-03 Listed $60,000 Greater Alabama MLS