2528 24th St · Birmingham, AL 35208

$59,900

3 bd · 1.0 ba · 1,205 sqft · SingleFamily · 57 Days on market

Built 1950 Fair condition 6,969 sqft lot $50/sqft · 33% above area Est $45k · 33% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.2/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

HOME PRESENTLY RENTED UNDER THESECTION-8 PROGRAM FOR $560 PER MONTH

Key facts

• 6,969 sq ft lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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-, 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 fast (+7.2%/yr); 122 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); lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 33% of the median local income ($39k/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 $414 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.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.76% ✓
• Cap rate: 14.64%
• Cash-on-cash: 29.82%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

• ARV (median comp): $45,131
• List price: $59,900
• Delta: 32.72%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2418 Finley Blvd	0.05mi	3/1.0	1,144 (-5%)	20mo	$50,000	$44	72
2212 22nd Ave N	0.38mi	3/1.0	1,170 (-3%)	12mo	$42,500	$36	68
2700 24th St	0.20mi	3/1.0	1,056 (-12%)	20mo	$82,500	$78	54
2212 20th St N	0.57mi	3/1.0	1,141 (-5%)	13mo	$45,000	$39	54
2129 N 30th Ave	0.42mi	3/1.5	1,042 (-14%)	9mo	$45,000	$43	49
2115 32nd Ave N	0.56mi	3/2.0	1,144 (-5%)	17mo	$99,000	$87	47
1925 33rd Ave N	0.70mi	3/1.0	1,156 (-4%)	17mo	$32,000	$28	47
2312 32nd Ave	0.55mi	3/2.0	1,102 (-8%)	12mo	$159,000	$144	46
1616 26th Ave N	0.67mi	4/1.5 (+1)	1,343 (+12%)	19mo	$77,000	$57	27

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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 2.28×
• Total profit: $21,533
• Equity at exit: $8,931

10-year hold

• IRR: 38.9%
• Equity multiple: 5.41×
• Total profit: $73,948
• Equity at exit: $5,179

Cash invested: $16,772 (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 35208

• Home prices YoY: -18.1%
• Rents YoY: 7.2%
• Active inventory: 122
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,052 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $417

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 55%

Sensitivity live

Price	-10% $458	-5% $437	+0% $417	+5% $396	+10% $375
Rent	-10% $334	-5% $375	+0% $417	+5% $458	+10% $500
Rate	-1.0pp $447	-0.5pp $432	base $417	+0.5pp $401	+1.0pp $385

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2129 30th Ave N Birmingham, AL	3.0	1.0	1042	$1,000	$0.96	44d	1	0.38mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	11d	1	0.43mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	2d	1	0.43mi
2428 21st Ave N Birmingham, AL	2.0	1.0	700	$975	$1.39	3d	1	0.43mi
2300 21st Ave N Birmingham, AL	2.0	1.0	700	$880	$1.26	44d	2	0.44mi
2108 25th St N Birmingham, AL	4.0	2.0	1446	$1,300	$0.90	44d	1	0.44mi
2000 Stouts Rd Birmingham, AL	2.0	1.0	700	$880	$1.26	44d	2	0.52mi
2608 20th Ave N Birmingham, AL	2.0	1.0	750	$895	$1.19	44d	1	0.53mi
2608 20th Ave N Unit 5 Birmingham, AL	2.0	1.0	750	$875	$1.17	44d	1	0.53mi
2400 19th Ave N Unit B Birmingham, AL	2.0	1.0	750	$850	$1.13	22d	1	0.56mi
2212 20th St N Birmingham, AL	3.0	1.0	1141	$895	$0.78	44d	1	0.59mi
1911 19th Ct N Apt 1 Birmingham, AL	2.0	1.0	750	$845	$1.13	12d	1	0.63mi
2129 30th Pl N Birmingham, AL	3.0	1.0	1042	$1,000	$0.96	24d	1	0.67mi
1625 29th Ave N Birmingham, AL	3.0	2.0	1140	$1,200	$1.05	16d	1	0.68mi
1917 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.69mi
2012 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	11d	1	0.69mi
2010 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	11d	1	0.69mi
2004 18th Pl N Unit 2004 Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.69mi
1994 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.69mi
1954 18th Pl N Birmingham, AL	2.0	1.0	900	$975	$1.08	44d	1	0.70mi
1940 18th Pl N Unit 1940 Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.70mi
1938 18th Pl N Unit 1938 Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.70mi
1909 18th St N Unit 1909 Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.70mi
1906 18th Pl N Birmingham, AL	2.0	1.0	900	$799	$0.89	15d	1	0.73mi
1576 20th St N Apt D Birmingham, AL	2.0	1.0	900	$725	$0.81	44d	1	0.81mi
2015 36th Ave N Birmingham, AL	3.0	1.0	1468	$1,190	$0.81	24d	1	0.83mi
1721 35th Ave N Birmingham, AL	2.0	1.0	1184	$875	$0.74	44d	1	0.89mi
1742 17th St N Unit 2 Birmingham, AL	3.0	2.0	1300	$1,500	$1.15	16d	1	0.89mi
3001 Norwood Blvd Birmingham, AL	2.0	2.0	1092	$1,500	$1.37	4d	1	0.91mi
1906 15th Ct N Birmingham, AL	2.0	1.0	1311	$1,000	$0.76	24d	1	0.94mi
1709 36th Ave N Birmingham, AL	3.0	1.0	970	$1,350	$1.39	44d	1	0.95mi
3016 33rd Ct N Birmingham, AL	3.0	1.0	1012	$1,100	$1.09	44d	1	0.95mi
1608 18th Pl N Birmingham, AL	3.0	2.0	1243	$950	$0.76	44d	1	0.98mi
1428 F L Shuttlesworth Dr Fl Shuttlesworth Birmingham, AL	2.0	1.0	803	$825	$1.03	24d	3	1.06mi
2413 14th Ave N Birmingham, AL	2.0	1.0	720	$675	$0.94	2d	3	1.08mi
3311 16th Ave N Unit 3317 Birmingham, AL	2.0	1.0	750	$850	$1.13	44d	1	1.10mi
3311 16th Ave N Unit 3321 Birmingham, AL	2.0	1.0	750	$850	$1.13	24d	1	1.10mi
3311 16th Ave N Unit 3323 Birmingham, AL	2.0	1.0	750	$850	$1.13	2d	1	1.11mi
1444 31st St N Birmingham, AL	4.0	1.0	1014	$1,295	$1.28	24d	1	1.11mi
1802 14th Ct N Birmingham, AL	2.0	1.0	700	$850	$1.21	20d	1	1.15mi

Listing history 14 events

1. 2026-06-18
   days on market $59,900 Active 57 DOM
2. 2026-06-17
   days on market $59,900 Active 56 DOM
3. 2026-06-16
   days on market $59,900 Active 55 DOM
4. 2026-06-15
   days on market $59,900 Active 54 DOM
5. 2026-06-13
   days on market $59,900 Active 52 DOM
6. 2026-06-10
   days on market $59,900 Active 49 DOM
7. 2026-06-09
   days on market $59,900 Active 48 DOM
8. 2026-06-08
   days on market $59,900 Active 47 DOM
9. 2026-06-07
   days on market $59,900 Active 46 DOM
10. 2026-06-03
    days on market $59,900 Active 42 DOM
11. 2026-06-02
    days on market $59,900 Active 41 DOM
12. 2026-06-01
    days on market $59,900 Active 40 DOM
13. 2026-05-31
    days on market $59,900 Active 39 DOM
14. 2026-04-22
    listed $59,900 Active 67-char remark

    Show marketing remark (67 chars)

    HOME PRESENTLY RENTED UNDER THESECTION-8 PROGRAM FOR $560 PER MONTH

ⓘ 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: $12,619
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$1,743
• Taxable income: $4,304
• Est. tax owed @ 24.0%: −$1,033
• After-tax cash flow: $3,969/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 · 10 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs to exterior siding and interior walls, with minor maintenance needed. Painting the exterior and replacing the carpet would significantly increase its value.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Minor interior walls — Some scuff marks

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet — Fresh carpet improves comfort and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and discolored	Moderate	$3,000–15,000
interior walls · Some scuff marks	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet — Fresh carpet improves comfort and 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): 13,412
• Household income: $38,561
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 573.0

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 (94%)
• Race & ethnicity: Black 94% White 4% Hispanic / Latino 2% Two or more races 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -33.99%
• Current HPI: 153.414
• Rent YoY: ▲ 7.24%
• 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

1 event — show timeline

• 2026-04-22 Listed $59,900 Greater Alabama MLS