2924 Avenue Z · Birmingham, AL 35208

$59,900

4 bd · 1.0 ba · 1,766 sqft · SingleFamily public records · 1 Days on market

Built 1910 5,924 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Great Investment opportunity! 3 Bedroom and 2 Bath home. Tenant in place since 2005. 100% section 8 at $650.00

Key facts

• 5,924 sq ft lot
• Built 1910

🏷️ Possibly a rental listed for sale. The $59,900 price doesn't fit this home's estimated sale value (~$123,620) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 19.3% 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-, crime F, employment 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.
• Zoned schools: Minor Elementary School (math 0% / reading 14%, grade F, #601 of 627 statewide, top 98%, 454 students, 90% FRL).
• 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 24d 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 44% 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 ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• 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 $59,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.34% ✓
• Cap rate: 19.25%
• Cash-on-cash: 46.28%
• DSCR: 3.06
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $123,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2720 23rd St W	0.29mi	3/1.0 (-1)	1,692 (-4%)	6mo	$45,000	$27	70
2517 Avenue	0.34mi	4/1.5	1,638 (-7%)	1mo	$114,429	$70	69
2223 28th St W	0.38mi	4/2.0	1,836 (+4%)	5mo	$100,000	$54	68
2511 20th Place Ensley	0.44mi	4/2.0	1,794 (+2%)	12mo	$57,000	$32	63
2116 Warrior Rd	0.53mi	3/1.0 (-1)	1,720 (-3%)	9mo	$50,000	$29	59
2541 20th St W	0.48mi	4/3.0	1,911 (+8%)	0mo	$173,000	$91	56
3066 Avenue T	0.59mi	5/2.5 (+1)	1,903 (+8%)	2mo	$230,000	$121	47
2739 Bush Blvd	0.53mi	3/2.0 (-1)	1,978 (+12%)	1mo	$239,000	$121	45
2854 20th St W	0.59mi	3/1.5 (-1)	1,634 (-8%)	10mo	$62,000	$38	45
1719 4th Ct W	0.53mi	3/1.5 (-1)	1,986 (+12%)	4mo	$160,000	$81	44
2908 Ensley Ave	0.43mi	3/2.0 (-1)	1,558 (-12%)	9mo	$60,000	$39	44
2733 17th St W	0.62mi	4/2.0	1,900 (+8%)	14mo	$164,500	$87	43

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: 48.5%
• Equity multiple: 3.25×
• Total profit: $37,764
• Equity at exit: $8,931

10-year hold

• IRR: 55.9%
• Equity multiple: 7.80×
• Total profit: $114,003
• 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: 3.6×

Monthly cashflow live

• Estimated rent: $1,399 high
• Mortgage (P&I): −$314
• Tax from tax record: −$119 /mo · $1,431/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $647

Break-even live

Break-even rent $580

Max offer price $59,900

Occupancy floor 49%

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
2709 30th Street Ensley Birmingham, AL	4.0	2.0	1410	$1,323	$0.94	2d	1	0.12mi
2528 25th Street Ensley Birmingham, AL	3.0	1.0	1563	$1,100	$0.70	43d	1	0.21mi
2712 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1232	$1,099	$0.89	23d	1	0.25mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1350	$1,500	$1.11	3d	1	0.32mi
2720 23rd Street Ensley Birmingham, AL	4.0	2.0	1692	$1,500	$0.89	19d	1	0.32mi
2304 Eufaula Ave Birmingham, AL	3.0	1.0	1381	$980	$0.71	43d	1	0.40mi
3017 Ensley Ave Birmingham, AL	3.0	1.0	1540	$1,400	$0.91	1d	1	0.40mi
2309 Eufaula Ave Birmingham, AL	4.0	2.0	1454	$1,395	$0.96	23d	1	0.41mi
2337 23rd Street Ensley Birmingham, AL	3.0	1.0	1446	$1,295	$0.90	43d	1	0.42mi
2356 22nd Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1500	$985	$0.66	23d	1	0.43mi
2609 20th Street Ensley Birmingham, AL	3.0	2.0	1500	$1,550	$1.03	3d	1	0.44mi
2609 20th Street Ensley Birmingham, AL	3.0	2.0	1229	$1,550	$1.26	43d	1	0.44mi
2920 24th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1800	$1,050	$0.58	23d	1	0.44mi
2108 25th Street Ensley Birmingham, AL	4.0	2.0	1446	$1,300	$0.90	43d	1	0.44mi
2511 20th Place Ensley Unit ENSLEY Birmingham, AL	5.0	2.0	1794	$1,400	$0.78	3d	1	0.47mi
2335 20th Place Ensley Birmingham, AL	5.0	2.0	1800	$1,850	$1.03	23d	1	0.49mi
2335 20th Place Ensley Birmingham, AL	5.0	2.0	1800	$1,850	$1.03	11d	1	0.49mi
2426 Avenue U Unit U Birmingham, AL	3.0	2.0	1260	$1,175	$0.93	19d	1	0.50mi
2436 Avenue S Birmingham, AL	4.0	2.0	1800	$1,400	$0.78	3d	1	0.61mi
2714 17th Street Ensley Birmingham, AL	4.0	2.0	1976	$1,553	$0.79	3d	1	0.62mi
1701 4th Ter W Birmingham, AL	4.0	2.5	1977	$1,550	$0.78	23d	1	0.63mi
2348 Court R Birmingham, AL	3.0	2.0	2400	$1,639	$0.68	19d	1	0.67mi
2348 Court R Birmingham, AL	3.0	2.0	1792	$1,769	$0.99	1d	1	0.67mi
2520 Avenue U Unit A Birmingham, AL	4.0	1.0	1260	$1,200	$0.95	43d	1	0.68mi
2133 47th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1308	$1,300	$0.99	43d	1	0.70mi
1724 30th Street Ensley Birmingham, AL	4.0	2.0	1428	$1,395	$0.98	16d	1	0.78mi
2523 16th street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1584	$1,300	$0.82	43d	1	0.78mi
1800 Woodland Ave SW Birmingham, AL	4.0	1.0	1411	$1,195	$0.85	2d	1	0.79mi
1645 Woodland Ave SW Birmingham, AL	4.0	2.0	1298	$1,300	$1.00	19d	1	0.83mi
4636 Avenue T Unit T Birmingham, AL	4.0	1.5	1842	$1,500	$0.81	1d	1	0.84mi
2017 48th Street Ensley Birmingham, AL	3.0	2.0	1383	$1,250	$0.90	43d	1	0.84mi
1633 29th Street Ensley Birmingham, AL	3.0	2.0	1658	$1,200	$0.72	43d	1	0.88mi
1437 Woodland Ave SW Birmingham, AL	3.0	1.0	1369	$1,100	$0.80	3d	1	0.88mi
4612 Terrace S Birmingham, AL	3.0	1.0	1612	$1,050	$0.65	43d	1	0.89mi
1825 18th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1316	$1,123	$0.85	43d	1	0.92mi
504 Francis Pl SW Birmingham, AL	3.0	2.0	1816	$1,223	$0.67	23d	1	0.92mi
1900 Saint Charles Ave SW Birmingham, AL	4.0	2.0	1623	$1,350	$0.83	2d	1	0.92mi
4637 Court S Birmingham, AL	3.0	1.0	1225	$975	$0.80	2d	1	0.94mi
1230 4th Ter W Birmingham, AL	3.0	2.0	1540	$1,000	$0.65	43d	1	0.96mi
1545 29th Street Ensley Birmingham, AL	3.0	1.5	1331	$1,200	$0.90	43d	1	0.97mi

Listing history 5 events

1. 2023-05-25
   soldstatus $59,900
2. 2023-05-08
   status Pending
3. 2023-05-08
   listed $59,900 Active
4. 2021-03-19
   price $57,900
5. 2001-03-14
   soldstatus $58,000

ⓘ 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: $1,431 · $119/mo
• Projected year-2 tax: $1,431 · $119/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 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,788
• − Mortgage interest: −$3,355
• − Property taxes: −$1,431
• − Insurance: −$300
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$1,743
• Taxable income: $7,273
• Est. tax owed @ 24.0%: −$1,746
• After-tax cash flow: $6,017/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): 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

+3.3% since first listed

5 events — show timeline

• 2023-05-25 Sold (Public Records) $59,900 Public Records
• 2023-05-08 Pending — Greater Alabama MLS
• 2023-05-08 Listed $59,900 Greater Alabama MLS
• 2021-03-19 Price Changed $57,900 Greater Alabama MLS
• 2001-03-14 Sold (Public Records) $58,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,431 · +0.0% YoY. Source: county tax records.