1024 6th Pl W · Birmingham, AL 35204

$110,000

3 bd · 1.5 ba · 1,922 sqft · SingleFamily public records · 49 Days on market

Built 1971 0.48 ac lot $57/sqft · 16% below area Est $131k · 16% under

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Why this score? — see what drove the B- 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 +25.0/30.0
• ARV discount +14.6/15.0
• DSCR +8.2/10.0
• 1% rule +5.7/10.0
• Appreciation +5.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks MLS

Fixer-upper opportunity with great potential! This 3-bedroom, 2.5-bath home offers around 1,900 sq ft and sits on a spacious lot in the established College Hill subdivision. Featuring a functional layout with multiple living areas, this property is ready for your vision and updates. Ideal for investors or buyers looking to customize and add value. Sold as-is. Conveniently located near US-78, providing easy access to shopping, dining, and commuter routes. Don’t miss the chance to transform this property into something special!

Key facts

• Easy access
• Spacious lot
• Functional layout

Tags

• SPACIOUS LOT
• FUNCTIONAL LAYOUT
• MULTIPLE LIVING AREAS
• CONVENIENTLY LOCATED
• EASY ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/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: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 64 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 40% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($761 loan paydown + $705 appreciation (0.6% local appreciation)).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($107k) 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 8.91%
• Cash-on-cash: 9.35%
• DSCR: 1.42
• GRM: 7.8

CMA / ARV

• ARV (median comp): $130,717
• List price: $110,000
• Delta: -15.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1017 7th St	0.02mi	4/2.0 (+1)	2,050 (+7%)	9mo	$240,000	$117	74
630 11th Ct W	0.25mi	4/2.0 (+1)	1,824 (-5%)	3mo	$95,000	$52	70
1220 8th St W	0.41mi	4/2.0 (+1)	1,991 (+4%)	2mo	$86,000	$43	66
741 W 9th Ave	0.25mi	4/2.0 (+1)	1,806 (-6%)	11mo	$97,000	$54	62
820 7th St W	0.43mi	3/2.0	1,774 (-8%)	5mo	$131,000	$74	61
1109 Center St N	0.68mi	3/2.5	1,946 (+1%)	5mo	$230,000	$118	58
732 8th Ct W	0.40mi	3/2.0	1,696 (-12%)	17mo	$157,000	$93	46
900 Center St	0.66mi	3/1.0	1,760 (-8%)	16mo	$78,000	$44	40
116 W Bankhead Hwy	0.65mi	4/3.0 (+1)	1,980 (+3%)	20mo	$205,500	$104	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.1%
• Equity multiple: 1.50×
• Total profit: $15,402
• Equity at exit: $35,512

10-year hold

• IRR: 14.3%
• Equity multiple: 2.67×
• Total profit: $51,323
• Equity at exit: $45,652

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 35204

• Home prices YoY: 0.3%
• Active inventory: 64
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,175 high
• Mortgage (P&I): −$577
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $240

Break-even live

Break-even rent $871

Max offer price $110,000

Occupancy floor 75%

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 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 6th St W Birmingham, AL	3.0	1.0	1332	$1,075	$0.81	43d	1	0.17mi
854 5th St W Birmingham, AL	3.0	1.0	1501	$1,275	$0.85	43d	1	0.30mi
410 8th Ter W Birmingham, AL	3.0	1.0	1440	$1,200	$0.83	15d	1	0.36mi
963 3rd St W Birmingham, AL	3.0	2.0	1444	$1,295	$0.90	23d	1	0.38mi
1101 7th Ave W Birmingham, AL	3.0	1.0	1248	$1,250	$1.00	43d	1	0.70mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	43d	1	0.74mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	1d	1	0.78mi
724 4th Ct W Birmingham, AL	3.0	1.0	1300	$930	$0.72	43d	1	0.80mi
1108 4th Ct W Birmingham, AL	3.0	2.0	1623	$1,125	$0.69	2d	1	0.94mi
1230 4th Ter W Birmingham, AL	3.0	2.0	1540	$1,000	$0.65	43d	1	0.98mi
1532 Graymont Ave W Birmingham, AL	4.0	2.0	1913	$1,150	$0.60	43d	1	1.00mi
451 2nd St N Birmingham, AL	4.0	3.0	1400	$1,600	$1.14	43d	1	1.02mi
1216 4th Pl N Birmingham, AL	3.0	2.0	1565	$1,150	$0.73	43d	1	1.05mi
608 Fulton Ave SW Birmingham, AL	3.0	1.0	1271	$1,300	$1.02	43d	1	1.14mi
644 Alabama Ave SW Birmingham, AL	3.0	1.0	1274	$1,125	$0.88	23d	1	1.14mi
1701 4th Ter W Birmingham, AL	4.0	2.5	1977	$1,550	$0.78	23d	1	1.28mi
1317 11th St N Birmingham, AL	3.0	1.0	1340	$1,200	$0.90	43d	1	1.30mi
2920 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1800	$1,050	$0.58	23d	1	1.46mi
451 2nd Ave N Birmingham, AL	4.0	3.0	1400	$1,600	$1.14	23d	1	1.48mi
2309 Eufaula Ave Birmingham, AL	4.0	2.0	1454	$1,395	$0.96	23d	1	1.49mi

Listing history 1 events

1. 2026-04-01
   listed $110,000 Active 537-char remark

   Show marketing remark (537 chars)

   Fixer-upper opportunity with great potential! This 3-bedroom, 2.5-bath home offers around 1,900 sq ft and sits on a spacious lot in the established College Hill subdivision. Featuring a functional layout with multiple living areas, this property is ready for your vision and updates. Ideal for investors or buyers looking to customize and add value. Sold as-is. Conveniently located near US-78, providing easy access to shopping, dining, and commuter routes. Don’t miss the chance to transform this property into something special!

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $789 · $66/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,103
• − Mortgage interest: −$6,162
• − Property taxes: −$789
• − Insurance: −$550
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$3,200
• Taxable income: $1,146
• Est. tax owed @ 24.0%: −$275
• After-tax cash flow: $2,606/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): 8,953
• Household income: $35,420
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 422.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Hispanic / Latino 5% Two or more races 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▲ 0.64%
• Current HPI: 201.0777
• Rent YoY: —
• 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

• 2026-04-01 Listed $110,000 VMLS

Property tax history

+3.0%/yr

Latest (2025): $789 · +54.1% YoY. Source: county tax records.