403 Skyview Dr Unit C · Birmingham, AL 35209

$75,900

2 bd · 1.0 ba · 864 sqft · Condo · 133 Days on market

Built 1980 Fair condition $88/sqft · at area comps Est $77k · at est.

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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 +19.6/30.0
• 1% rule +10.0/10.0
• ARV discount +8.1/15.0
• DSCR +6.2/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PRICE! Updated 2-bedroom, 1-bath condo remodeled in 2021 featuring luxury vinyl plank flooring, new bedroom carpet, fresh interior paint, and a new HVAC system. The unit is currently tenant-occupied at $1,050 a month, making this a strong investment opportunity. Enjoy access to the community’s inground swimming pool. Don’t miss this opportunity!

Key facts

• Fresh interior paint
• New hvac system
• Community pool

Tags

• INGROUND SWIMMING POOL
• NEW HVAC SYSTEM
• LUXURY VINYL PLANK FLOORING
• FRESH INTERIOR PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $76k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 6.2% in Birmingham — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+3.3%/yr); 99 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $525 of loan paydown is wiped out by about $2k 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 133 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $4k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $66,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.55% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 5.4

CMA / ARV

• ARV (median comp): $76,875
• List price: $75,900
• Delta: -1.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.34% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-6,092
• Equity at exit: $11,317

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $4,420
• Equity at exit: $6,562

Cash invested: $21,252 (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 35209

• Rents YoY: 3.3%
• Active inventory: 99
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,174 high
• Mortgage (P&I): −$398
• Tax est. 1.5%: −$95 /mo · $1,138/yr
• Insurance: −$32
• HOA est. from 1 same-building comp: −$315
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $88

Break-even live

Break-even rent $1,063

Max offer price $75,900

Occupancy floor 88%

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: $18,975
• Closing costs: $2,277
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Skyview Dr Birmingham, AL	2.0	1.0	864	$950	$1.10	43d	1	0.01mi
700 Aspen Dr Birmingham, AL	1.0	1.0	786	$1,045	$1.33	43d	1	0.14mi
218 Olympia Dr Homewood, AL	1.0–3.0	1.0–2.5	958	$1,190	$1.24	1d	33	0.32mi
2418 Green Springs Hwy Birmingham, AL	1.0	1.0	750	$895	$1.19	43d	5	0.40mi
120 Vulcan Rd Unit 1Apartment Birmingham, AL	1.0	1.0	1000	$1,800	$1.80	23d	1	0.57mi
2217-2249 Green Springs Hwy Unit 2241-M Birmingham, AL	3.0	2.0	1100	$1,109	$1.01	21d	1	0.63mi
2217-2249 Green Springs Hwy Unit 2249-E Birmingham, AL	2.0	1.0	900	$910	$1.01	43d	1	0.63mi
2700 Temple Crest Dr Birmingham, AL	1.0–2.0	1.0–1.5	776	$1,320	$1.70	43d	1	0.75mi
316 Beacon Crest Ln Birmingham, AL	1.0–2.0	1.0	850	$1,099	$1.29	2d	7	0.79mi
2049 Green Springs Hwy Unit 2 Birmingham, AL	1.0	1.0	605	$750	$1.24	43d	1	0.89mi
840 Beacon Pkwy E Unit C Birmingham, AL	2.0	1.0	925	$1,200	$1.30	43d	1	0.93mi
1010 Beacon Pkwy E Birmingham, AL	1.0–2.0	1.0–2.0	945	$2,275	$2.41	1d	18	0.93mi
1508 Dennison Ave SW Birmingham, AL	2.0	1.0	924	$890	$0.96	43d	1	0.94mi
513 Valley Ave Birmingham, AL	3.0	1.0–2.0	1012	$1,233	$1.22	43d	1	0.95mi
925 Beacon Pkwy E Birmingham, AL	1.0–3.0	1.0–2.0	1259	$974	$0.77	43d	1	0.95mi
741 Center Pl SW Birmingham, AL	3.0	1.0	1101	$1,250	$1.14	16d	1	0.99mi
195 Oxmoor Rd Birmingham, AL	2.0–3.0	2.0–2.5	1187	$2,350	$1.98	3d	8	1.01mi
306 Columbiana Rd Unit 308 B Birmingham, AL	2.0	1.0	1000	$865	$0.86	11d	1	1.01mi
1000 Beacon Pkwy E Unit 1035D Birmingham, AL	1.0	1.0	750	$975	$1.30	43d	1	1.01mi
407 Green Springs Ave S Birmingham, AL	2.0	1.0	866	$2,000	$2.31	1d	1	1.04mi
1332 15th Pl SW Birmingham, AL	2.0	1.0	1115	$950	$0.85	3d	1	1.06mi
834 Golden Gate Ln Birmingham, AL	1.0–3.0	1.0–2.0	1050	$1,150	$1.10	1d	13	1.14mi
834 Golden Gate Ln Birmingham, AL	1.0–3.0	1.0–2.0	1050	$1,175	$1.12	43d	12	1.14mi
741 Barcelona Ct Birmingham, AL	1.0	1.0	699	$950	$1.36	3d	5	1.14mi
825 Oak Leaf Cir Birmingham, AL	1.0–2.0	1.0–2.0	820	$1,200	$1.46	43d	1	1.17mi
1233 15th Way SW Birmingham, AL	3.0	1.0	1119	$1,050	$0.94	43d	1	1.21mi
1229 Beacon Pkwy E Birmingham, AL	1.0–3.0	1.0–2.0	1130	$1,088	$0.96	3d	16	1.22mi
261 3rd Ave SW Birmingham, AL	1.0–2.0	1.0	634	$850	$1.34	3d	14	1.27mi
633 Idlewild Cir Unit A1 Birmingham, AL	1.0	1.0	750	$1,052	$1.40	43d	1	1.39mi
633 Idlewild Cir Unit A7 Birmingham, AL	1.0	1.0	750	$1,044	$1.39	16d	1	1.39mi
915 Valley Ridge Dr Birmingham, AL	1.0–3.0	1.0–2.5	1087	$1,230	$1.13	1d	34	1.43mi
609 Idlewild Cir Apt B Birmingham, AL	2.0	1.0	705	$875	$1.24	3d	1	1.47mi
916 14th St SW Unit F Birmingham, AL	2.0	1.0	870	$800	$0.92	43d	1	1.48mi
916 14th St SW Unit F Birmingham, AL	2.0	1.0	800	$800	$1.00	11d	1	1.48mi
916 14th St SW Unit A Birmingham, AL	2.0	1.0	870	$800	$0.92	23d	1	1.48mi
914 14th St SW Unit B Birmingham, AL	1.0	1.0	580	$600	$1.03	11d	1	1.48mi
914 14th St SW Unit B Birmingham, AL	1.0	1.0	577	$700	$1.21	23d	1	1.48mi
914 14th St SW Unit A Birmingham, AL	1.0	1.0	577	$600	$1.04	23d	1	1.48mi

HOA detail condo

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

Listing history 23 events

1. 2026-06-18
   days on market $75,900 Active 133 DOM
2. 2026-06-17
   days on market $75,900 Active 132 DOM
3. 2026-06-16
   days on market $75,900 Active 131 DOM
4. 2026-06-15
   days on market $75,900 Active 130 DOM
5. 2026-06-13
   days on market $75,900 Active 128 DOM
6. 2026-06-10
   days on market $75,900 Active 125 DOM
7. 2026-06-09
   days on market $75,900 Active 124 DOM
8. 2026-06-08
   days on market $75,900 Active 123 DOM
9. 2026-06-07
   days on market $75,900 Active 122 DOM
10. 2026-06-03
    pricedays on market $75,900 Active 118 DOM
11. 2026-06-02
    days on market $76,900 Active 117 DOM
12. 2026-06-01
    days on market $76,900 Active 116 DOM
13. 2026-05-31
    days on market $76,900 Active 115 DOM
14. 2026-05-06
    price $78,000 363-char remark

    Show marketing remark (363 chars)

    NEW PRICE! Updated 2-bedroom, 1-bath condo remodeled in 2021 featuring luxury vinyl plank flooring, new bedroom carpet, fresh interior paint, and a new HVAC system. The unit is currently tenant-occupied at $1,050 a month, making this a strong investment opportunity. Enjoy access to the community’s inground swimming pool. Don’t miss this opportunity!

15. 2026-04-22
    price $79,000 363-char remark

    Show marketing remark (363 chars)

    NEW PRICE! Updated 2-bedroom, 1-bath condo remodeled in 2021 featuring luxury vinyl plank flooring, new bedroom carpet, fresh interior paint, and a new HVAC system. The unit is currently tenant-occupied at $1,050 a month, making this a strong investment opportunity. Enjoy access to the community’s inground swimming pool. Don’t miss this opportunity!

16. 2026-02-05
    listed $80,000 Active 363-char remark

    Show marketing remark (363 chars)

    NEW PRICE! Updated 2-bedroom, 1-bath condo remodeled in 2021 featuring luxury vinyl plank flooring, new bedroom carpet, fresh interior paint, and a new HVAC system. The unit is currently tenant-occupied at $1,050 a month, making this a strong investment opportunity. Enjoy access to the community’s inground swimming pool. Don’t miss this opportunity!

17. 2021-11-29
    soldstatus $70,000 Sold 234-char remark

    Show marketing remark (234 chars)

    Great for Investors! Brand new HVAC and Furnace. New Carpet in bedroom and closet! Convenient location to interstates, shopping, hospitals and universities. Add this one to your rental portfolio today! Currently rented for $975/month.

18. 2021-11-02
    historical Contingent 234-char remark

    Show marketing remark (234 chars)

    Great for Investors! Brand new HVAC and Furnace. New Carpet in bedroom and closet! Convenient location to interstates, shopping, hospitals and universities. Add this one to your rental portfolio today! Currently rented for $975/month.

19. 2021-09-10
    listed $70,000 Active 234-char remark

    Show marketing remark (234 chars)

    Great for Investors! Brand new HVAC and Furnace. New Carpet in bedroom and closet! Convenient location to interstates, shopping, hospitals and universities. Add this one to your rental portfolio today! Currently rented for $975/month.

20. 2021-09-09
    historical $70,000 234-char remark

    Show marketing remark (234 chars)

    Great for Investors! Brand new HVAC and Furnace. New Carpet in bedroom and closet! Convenient location to interstates, shopping, hospitals and universities. Add this one to your rental portfolio today! Currently rented for $975/month.

21. 2021-08-09
    soldstatus $60,000 Sold
22. 2021-06-24
    historical
23. 2021-06-21
    listed $69,900 Active

ⓘ 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: $14,086
• − Mortgage interest: −$4,252
• − Property taxes: −$1,138
• − Insurance: −$380
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − HOA: −$3,780
• − Depreciation: −$2,208
• Taxable income: $75
• Est. tax owed @ 24.0%: −$18
• After-tax cash flow: $1,036/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.

Condition & rehab AI · 1 photo

Fair 45/100 Cosmetic rehab

This condo is currently tenant-occupied and in fair condition, with potential for cosmetic updates to the kitchen and bathroom to enhance its value.

Repairs flagged

• Major kitchen — No photos of kitchen
• Major bath — No photos of bathroom
• Major HVAC/mechanicals — No photos of HVAC/mechanicals

Value-add opportunities

• Rental paint interior walls — Fresh paint enhances curb appeal and can increase rental value
• Both update kitchen and bathroom — Modernizing these spaces can significantly increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen · No photos of kitchen	Major	$15,000–50,000
bath · No photos of bathroom	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Rental paint interior walls — Fresh paint enhances curb appeal and can increase rental value ↑
• Both update kitchen and bathroom — Modernizing these spaces can significantly increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 32,734
• Household income: $71,439
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1879.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 23% Hispanic / Latino 7% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 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: ▼ -472.07%
• Current HPI: 312.2185
• Rent YoY: ▲ 3.34%
• 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

+11.6% since first listed

10 events — show timeline

• 2026-05-06 Price Changed $78,000 Greater Alabama MLS
• 2026-04-22 Price Changed $79,000 Greater Alabama MLS
• 2026-02-05 Listed $80,000 Greater Alabama MLS
• 2021-11-29 Sold (MLS) $70,000 Greater Alabama MLS
• 2021-11-02 Contingent — Greater Alabama MLS
• 2021-09-10 Listed $70,000 Greater Alabama MLS
• 2021-09-09 Coming Soon $70,000 Greater Alabama MLS
• 2021-08-09 Sold (MLS) $60,000 Greater Alabama MLS
• 2021-06-24 Delisted — Greater Alabama MLS
• 2021-06-21 Listed $69,900 Greater Alabama MLS