900 Ridge Pl #4 · Birmingham, AL 35214

$198,000

24 bd · 8.0 ba · 7,614 sqft · MultiFamily · 66 Days on market

Built 1952 Poor condition $26/sqft · 19% below area Est $245k · 19% under

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +1.0/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 8 units. estimate disagrees with records

Listing remarks MLS

Investor Special – 4-Unit Multifamily Opportunity! Don’t miss this incredible opportunity to own a 4-unit income-producing property with endless potential! Whether you’re looking to expand your rental portfolio or step into multifamily investing, this property is a solid value-add opportunity. Each unit offers a functional layout, making it ideal for long-term tenants or potential upgrades to increase rental income. With the right vision and improvements, this property could deliver strong cash flow and long-term equity growth.

Key facts

• Built 1952
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 8 × 3-bed/?-bath units multifamily listed at $198k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $7k ($79k/yr) — positive. Per door: $821/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $198k).
• Recommended offer: $186k (6.0% below list) — sets the bar for market timing.
• Cap rate 46.1% 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 flat; 115 active listings in the ZIP; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• At $10,051/mo this rent would consume 214% of the median local household income ($56k/yr) (locally 578% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 0.7% rent growth), your $55k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 5.08% ✓
• Cap rate: 46.12%
• Cash-on-cash: 142.25%
• DSCR: 7.33
• GRM: 1.6

CMA / ARV

• ARV (median comp): $245,457
• List price: $198,000
• Delta: -19.33%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.57×
• Total profit: $364,286
• Equity at exit: $29,522

10-year hold

• IRR: —
• Equity multiple: 14.87×
• Total profit: $769,152
• Equity at exit: $17,119

Cash invested: $55,440 (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 35214

• Home prices YoY: -20.0%
• Rents YoY: 0.7%
• Active inventory: 115
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $10,051 high
• Mortgage (P&I): −$1,038
• Tax est. 1.5%: −$248 /mo · $2,970/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,111
• Net cashflow: $6,572

Break-even live

Break-even rent $1,732

Max offer price $198,000

Occupancy floor 30%

Sensitivity live

Price	-10% $6,709	-5% $6,640	+0% $6,572	+5% $6,504	+10% $6,435
Rent	-10% $5,778	-5% $6,175	+0% $6,572	+5% $6,969	+10% $7,366
Rate	-1.0pp $6,672	-0.5pp $6,622	base $6,572	+0.5pp $6,521	+1.0pp $6,468

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	3	—	$10,048
Total (8 units)			$10,051

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $198,000 Active 66 DOM
2. 2026-06-18
   days on market $198,000 Active 63 DOM
3. 2026-06-17
   days on market $198,000 Active 62 DOM
4. 2026-06-16
   days on market $198,000 Active 61 DOM
5. 2026-06-15
   days on market $198,000 Active 60 DOM
6. 2026-06-13
   days on market $198,000 Active 58 DOM
7. 2026-06-10
   days on market $198,000 Active 55 DOM
8. 2026-06-09
   days on market $198,000 Active 54 DOM
9. 2026-06-08
   days on market $198,000 Active 53 DOM
10. 2026-06-07
    days on market $198,000 Active 52 DOM
11. 2026-06-03
    days on market $198,000 Active 48 DOM
12. 2026-06-02
    days on market $198,000 Active 47 DOM
13. 2026-06-01
    days on market $198,000 Active 46 DOM
14. 2026-05-31
    days on market $198,000 Active 45 DOM
15. 2026-04-16
    listed $198,000 Active 551-char remark

    Show marketing remark (551 chars)

    Investor Special – 4-Unit Multifamily Opportunity! Don’t miss this incredible opportunity to own a 4-unit income-producing property with endless potential! Whether you’re looking to expand your rental portfolio or step into multifamily investing, this property is a solid value-add opportunity. Each unit offers a functional layout, making it ideal for long-term tenants or potential upgrades to increase rental income. With the right vision and improvements, this property could deliver strong cash flow and long-term equity growth.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $120,612
• − Mortgage interest: −$11,091
• − Property taxes: −$2,970
• − Insurance: −$990
• − Repairs & maintenance: −$9,649
• − Management: −$9,649
• − Depreciation: −$5,760
• Taxable income: $80,503
• Est. tax owed @ 24.0%: −$19,321
• After-tax cash flow: $59,543/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 · 9 photos

Poor 20/100 Extensive rehab

This 4-unit multifamily property requires extensive repairs and renovations to bring it up to move-in ready condition. Significant work is needed on the exterior, interior, kitchen, bathrooms, HVAC, and landscaping to improve both resale and rental value.

Repairs flagged

• Major Exterior siding — Missing or damaged in several areas.
• Major Interior walls — Exposed framing and debris suggest significant damage.
• Major Kitchen cabinets — Missing hardware and countertops.
• Major Bathrooms — Exposed framing and debris suggest significant damage.
• Major HVAC/mechanicals — Not functional and unfinished state suggests damage.
• Major Landscaping — Overgrown and unkempt, with debris scattered around the property.

Value-add opportunities

• Both Complete exterior siding and roof repairs — Improves both resale and rental value by making the property move-in ready.
• Both Finish interior walls and install flooring — Improves both resale and rental value by making the property move-in ready.
• Both Install kitchen cabinets and countertops — Improves both resale and rental value by making the property move-in ready.
• Both Install bathrooms and fixtures — Improves both resale and rental value by making the property move-in ready.
• Both Install HVAC and mechanical systems — Improves both resale and rental value by making the property move-in ready.
• Both Landscaping and curb appeal improvements — Improves both resale and rental value by making the property more attractive and inviting.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Missing or damaged in several areas.	Major	$15,000–50,000
Interior walls · Exposed framing and debris suggest significant damage.	Major	$15,000–50,000
Kitchen cabinets · Missing hardware and countertops.	Major	$15,000–50,000
Bathrooms · Exposed framing and debris suggest significant damage.	Major	$15,000–50,000
HVAC/mechanicals · Not functional and unfinished state suggests damage.	Major	$15,000–50,000
Landscaping · Overgrown and unkempt, with debris scattered around the property.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Complete exterior siding and roof repairs — Improves both resale and rental value by making the property move-in ready. ↑
• Both Finish interior walls and install flooring — Improves both resale and rental value by making the property move-in ready. ↑
• Both Install kitchen cabinets and countertops — Improves both resale and rental value by making the property move-in ready. ↑
• Both Install bathrooms and fixtures — Improves both resale and rental value by making the property move-in ready. ↑
• Both Install HVAC and mechanical systems — Improves both resale and rental value by making the property move-in ready. ↑
• Both Landscaping and curb appeal improvements — Improves both resale and rental value by making the property more attractive and inviting. ↑

ⓘ 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): 17,027
• Household income: $56,383
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 578.0

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 (77%)
• Race & ethnicity: Black 77% White 18% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▼ -54.48%
• Current HPI: 218.5233
• Rent YoY: ▲ 0.74%
• 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

• 2026-04-16 Listed $198,000 Greater Alabama MLS