7524 2nd Ave S · Birmingham, AL 35206

$115,000

3 bd · 1.0 ba · 1,455 sqft · SingleFamily public records · 91 Days on market

Built 1920 8,276 sqft lot $79/sqft · 14% below area Est $133k · 14% 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 +19.9/30.0
• ARV discount +13.7/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovated & Move-In Ready with Major Updates! This updated home offers space, functionality, and peace of mind with improvements throughout. Now featuring a new 4th bedroom and added closet space, this home provides flexibility for family, guests, or a home office. Enjoy a brand-new metal roof, updated electrical with grounded and GFI outlets, and plumbing serviced to meet Section 8 guidelines. Inside, you’ll find refreshed drywall, repaired woodwork, new ceiling tiles, and a bathroom upgrade with a new vanity, toilet, and refinished tub. Additional improvements include repaired windows, new locks, closet doors, smoke and carbon monoxide detectors, and full interior and exterior cleanup. Exterior updates include siding repairs, paint touch-ups, and trimmed trees for added curb appeal. Updated to meet Section 8 standards, this home offers value and livability. Seller owns multiple properties and is open to selling as a package deal 1254 Lewis St and 5301 Main St.

Key facts

• Updated electrical
• Added closet space
• Plumbing serviced

Tags

• NEW 4TH BEDROOM
• ADDED CLOSET SPACE
• BRAND-NEW METAL ROOF
• UPDATED ELECTRICAL
• PLUMBING SERVICED
• REFRESHED DRYWALL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% 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 (+1.8%/yr); 128 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 33% of the median local income ($43k/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 $795 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 91 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $79k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.03% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.15%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $133,412
• List price: $115,000
• Delta: -13.80%
• 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
229 73rd St N	0.47mi	3/1.0	1,448 (-0%)	3mo	$157,000	$108	75
7506 1st Ave S	0.09mi	4/1.0 (+1)	1,324 (-9%)	1mo	$60,000	$45	75
7836 Division Ave	0.42mi	3/2.0	1,462 (+0%)	3mo	$154,000	$105	73
7815 4th Ave S	0.41mi	3/2.0	1,496 (+3%)	3mo	$74,000	$49	70
7305 Division Ave	0.26mi	3/2.0	1,561 (+7%)	3mo	$177,900	$114	69
319 80th St N	0.69mi	3/1.0	1,456 (+0%)	2mo	$65,000	$45	66
713 77th Pl S	0.52mi	3/1.0	1,364 (-6%)	2mo	$215,000	$158	64
7729 Belmont Ave	0.57mi	3/1.0	1,606 (+10%)	2mo	$122,000	$76	54
7705 Belmont Ave	0.59mi	3/1.0	1,324 (-9%)	5mo	$60,000	$45	53
7923 4th Ave N	0.66mi	3/2.0	1,320 (-9%)	1mo	$145,000	$110	49
7212 Oporto Madrid Blvd	0.66mi	3/1.0	1,604 (+10%)	4mo	$160,000	$100	49
214 74th St N	0.40mi	3/3.0	1,648 (+13%)	5mo	$179,900	$109	47

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-11,203
• Equity at exit: $17,147

10-year hold

• IRR: -1.9%
• Equity multiple: 0.88×
• Total profit: $-3,901
• Equity at exit: $9,943

Cash invested: $32,200 (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 35206

• Home prices YoY: -32.0%
• Rents YoY: 1.8%
• Active inventory: 128
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,179 high
• Mortgage (P&I): −$603
• Tax from tax record: −$142 /mo · $1,710/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $138

Break-even live

Break-even rent $1,004

Max offer price $115,000

Occupancy floor 83%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7420 3rd Ave S Birmingham, AL	4.0	2.0	1705	$1,450	$0.85	1d	1	0.14mi
7620 4th Ave S Birmingham, AL	3.0	1.0	1144	$1,025	$0.90	43d	1	0.16mi
7721 1st Ave S Birmingham, AL	3.0	1.0	956	$949	$0.99	23d	1	0.19mi
7330 1st Ave S Birmingham, AL	3.0	1.0	1299	$1,000	$0.77	2d	1	0.21mi
7728 1st Ave S Apt C Birmingham, AL	2.0	1.0	950	$950	$1.00	43d	1	0.22mi
7801 3rd Ave S Unit B Birmingham, AL	2.0	1.5	1100	$1,000	$0.91	43d	1	0.33mi
7815 4th Ave S Birmingham, AL	3.0	2.0	1496	$1,650	$1.10	1d	1	0.39mi
7829 3rd Ave S Birmingham, AL	3.0	1.5	1005	$1,025	$1.02	43d	1	0.39mi
7129 3rd Ave S Birmingham, AL	3.0	2.0	1264	$1,095	$0.87	3d	1	0.40mi
630 77th St S Birmingham, AL	2.0	2.0	1100	$983	$0.89	3d	1	0.44mi
7125 6th Ave S Birmingham, AL	3.0	2.0	1584	$1,188	$0.75	3d	1	0.51mi
7025 4th Ave S Birmingham, AL	3.0	1.0	1090	$845	$0.78	43d	1	0.53mi
7017 Division Ave Birmingham, AL	3.0	1.0	1100	$1,050	$0.95	43d	1	0.53mi
7005 2nd Ave S Birmingham, AL	2.0	1.0	939	$950	$1.01	43d	1	0.55mi
605 71st St S Birmingham, AL	3.0	1.5	1024	$1,303	$1.27	2d	1	0.56mi
201 70th St S Birmingham, AL	2.0	1.0	989	$950	$0.96	43d	1	0.57mi
8021 1st Ave S Unit A Birmingham, AL	3.0	1.0	980	$950	$0.97	23d	1	0.57mi
756 Vanderbilt St Birmingham, AL	3.0	2.0	1096	$1,000	$0.91	43d	1	0.61mi
7823 Rugby Ave Birmingham, AL	3.0	1.0	1023	$1,175	$1.15	43d	1	0.63mi
8035 4th Ave S Birmingham, AL	3.0	2.0	1096	$1,050	$0.96	43d	1	0.63mi
7827 Rugby Ave Birmingham, AL	3.0	1.0	1365	$850	$0.62	3d	1	0.64mi
7931 7th Ave S Birmingham, AL	3.0	1.0	1320	$1,450	$1.10	43d	1	0.65mi
7824 Rugby Ct Birmingham, AL	4.0	1.5	1650	$1,275	$0.77	43d	1	0.67mi
7825 Rugby Ct Birmingham, AL	2.0	1.0	929	$875	$0.94	21d	1	0.69mi
512 81st St S Birmingham, AL	3.0	1.0	1156	$1,150	$0.99	43d	1	0.70mi
7213 Naples Ave Birmingham, AL	3.0	1.5	937	$1,100	$1.17	11d	1	0.70mi
7213 Naples Ave Birmingham, AL	3.0	1.5	925	$1,100	$1.19	43d	1	0.70mi
805 Vanderbilt St Birmingham, AL	4.0	2.0	1692	$1,291	$0.76	21d	1	0.70mi
514 81st St S Birmingham, AL	4.0	2.0	1174	$1,295	$1.10	43d	1	0.70mi
8129 2nd Ave S Unit B Birmingham, AL	2.0	1.0	900	$800	$0.89	43d	1	0.71mi
8108 4th Ave S Birmingham, AL	3.0	2.0	1384	$1,200	$0.87	43d	1	0.71mi
7313 Paris Ave Birmingham, AL	3.0	2.0	1000	$1,395	$1.40	3d	1	0.71mi
6820 Division Ave Birmingham, AL	3.0	2.0	1122	$1,050	$0.94	23d	1	0.72mi
8128 2nd Ave S Birmingham, AL	4.0	1.0	1390	$1,150	$0.83	23d	1	0.72mi
224 69th Pl N Birmingham, AL	3.0	1.0	894	$975	$1.09	43d	1	0.75mi
8020 4th Ave N Birmingham, AL	3.0	1.0	1200	$1,200	$1.00	43d	1	0.76mi
7216 Paris Ave Birmingham, AL	3.0	1.5	966	$1,125	$1.16	19d	1	0.77mi
8149 1st Ave S Birmingham, AL	3.0	2.0	1300	$1,200	$0.92	43d	1	0.77mi
836 Vanderbilt St Birmingham, AL	3.0	1.0	1072	$850	$0.79	23d	1	0.77mi
8013 Rugby Ave Birmingham, AL	3.0	2.0	1460	$1,150	$0.79	23d	1	0.79mi

Listing history 33 events

1. 2026-06-18
   days on market $115,000 Active 91 DOM
2. 2026-06-17
   days on market $115,000 Active 90 DOM
3. 2026-06-16
   days on market $115,000 Active 89 DOM
4. 2026-06-15
   days on market $115,000 Active 88 DOM
5. 2026-06-13
   days on market $115,000 Active 86 DOM
6. 2026-06-10
   days on market $115,000 Active 83 DOM
7. 2026-06-09
   days on market $115,000 Active 82 DOM
8. 2026-06-08
   days on market $115,000 Active 81 DOM
9. 2026-06-07
   days on market $115,000 Active 80 DOM
10. 2026-06-03
    days on market $115,000 Active 76 DOM
11. 2026-06-02
    days on market $115,000 Active 75 DOM
12. 2026-06-01
    days on market $115,000 Active 74 DOM
13. 2026-05-31
    days on market $115,000 Active 73 DOM
14. 2026-05-01
    historical $950
15. 2026-03-17
    listed $115,000 Active 989-char remark

    Show marketing remark (989 chars)

    Renovated & Move-In Ready with Major Updates! This updated home offers space, functionality, and peace of mind with improvements throughout. Now featuring a new 4th bedroom and added closet space, this home provides flexibility for family, guests, or a home office. Enjoy a brand-new metal roof, updated electrical with grounded and GFI outlets, and plumbing serviced to meet Section 8 guidelines. Inside, you’ll find refreshed drywall, repaired woodwork, new ceiling tiles, and a bathroom upgrade with a new vanity, toilet, and refinished tub. Additional improvements include repaired windows, new locks, closet doors, smoke and carbon monoxide detectors, and full interior and exterior cleanup. Exterior updates include siding repairs, paint touch-ups, and trimmed trees for added curb appeal. Updated to meet Section 8 standards, this home offers value and livability. Seller owns multiple properties and is open to selling as a package deal 1254 Lewis St and 5301 Main St.

16. 2026-02-26
    price $950
17. 2026-02-03
    price $1,100
18. 2025-12-31
    listed $1,150
19. 2025-12-31
    historical $1,200
20. 2025-10-23
    listed $1,200
21. 2025-09-18
    historical $1,200
22. 2025-07-10
    listed $1,200
23. 2025-07-09
    historical $1,200
24. 2025-07-02
    listed $1,200
25. 2025-06-27
    historical $1,300
26. 2025-06-21
    listed $1,300
27. 2025-01-24
    soldstatus $79,000 Sold 120-char remark

    Show marketing remark (120 chars)

    Situated in Eastlake. Soaring ceilings. Lots of charm. With a little TLC this home will be gorgeous! No seller financing

28. 2025-01-08
    historical Contingent 120-char remark

    Show marketing remark (120 chars)

    Situated in Eastlake. Soaring ceilings. Lots of charm. With a little TLC this home will be gorgeous! No seller financing

29. 2024-12-05
    status Active 120-char remark

    Show marketing remark (120 chars)

    Situated in Eastlake. Soaring ceilings. Lots of charm. With a little TLC this home will be gorgeous! No seller financing

30. 2024-11-09
    historical Contingent 120-char remark

    Show marketing remark (120 chars)

    Situated in Eastlake. Soaring ceilings. Lots of charm. With a little TLC this home will be gorgeous! No seller financing

31. 2024-10-29
    listed $89,900 Active 120-char remark

    Show marketing remark (120 chars)

    Situated in Eastlake. Soaring ceilings. Lots of charm. With a little TLC this home will be gorgeous! No seller financing

32. 2014-11-14
    soldstatus $11,000
33. 2014-08-29
    listed $14,000

ⓘ 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: $1,710 · $142/mo
• Projected year-2 tax: $1,710 · $142/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: $14,151
• − Mortgage interest: −$6,442
• − Property taxes: −$1,710
• − Insurance: −$575
• − Repairs & maintenance: −$1,132
• − Management: −$1,132
• − Depreciation: −$3,345
• Taxable loss: −$185
• Est. tax savings @ 24.0%: +$44
• After-tax cash flow: $1,702/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): 15,621
• Household income: $42,549
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 1169.0

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 (73%)
• Race & ethnicity: Black 73% White 22% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 0%

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: ▼ -68.70%
• Current HPI: 146.2168
• Rent YoY: ▲ 1.82%
• 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

+721.4% since first listed

20 events — show timeline

• 2026-05-01 Rental Removed $950 BUILDIUM
• 2026-03-17 Listed $115,000 Greater Alabama MLS
• 2026-02-26 Price Changed $950 BUILDIUM
• 2026-02-03 Price Changed $1,100 BUILDIUM
• 2025-12-31 Listed for Rent $1,150 BUILDIUM
• 2025-12-31 Rental Removed $1,200 TENANTTURNER2
• 2025-10-23 Listed for Rent $1,200 TENANTTURNER2
• 2025-09-18 Rental Removed $1,200 BUILDIUM
• 2025-07-10 Listed for Rent $1,200 BUILDIUM
• 2025-07-09 Rental Removed $1,200 TENANTTURNER2
• 2025-07-02 Listed for Rent $1,200 TENANTTURNER2
• 2025-06-27 Rental Removed $1,300 TENANTTURNER2
• 2025-06-21 Listed for Rent $1,300 TENANTTURNER2
• 2025-01-24 Sold (MLS) $79,000 Greater Alabama MLS
• 2025-01-08 Contingent — Greater Alabama MLS
• 2024-12-05 Relisted — Greater Alabama MLS
• 2024-11-09 Contingent — Greater Alabama MLS
• 2024-10-29 Listed $89,900 Greater Alabama MLS
• 2014-11-14 Sold (MLS) $11,000 Greater Alabama MLS
• 2014-08-29 Listed $14,000 Greater Alabama MLS

Property tax history

+4.3%/yr

Latest (2025): $1,710 · +0.8% YoY. Source: county tax records.