308 Woodland Vlg #308 · Homewood, AL 35216

$149,999

1 bd · 1.0 ba · 783 sqft · Condo · 20 Days on market

Built 1974

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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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated, super cute, one bedroom, one bath HOMEWOOD condo! Walking distance to Sanford and Brookwood and 8 minutes to UAB, this is the perfect location. Quiet condo complex, popular with students and medical personnel, this is a favored upstairs unit. Great pool, lovely hardwoods throughout, stack washer/dryer, dog play areas and lots of light. Move in ready.

Key facts

• Community pool
• Built 1974
• Listed 20 days

Property features AI

Finance

• Other: Located in the Woodland Village subdivision; Driving directions: Take US-31 N to Old Montgomery Hwy, then onto Old Montgomery Hwy to Woodland Village in Homewood; condo is on the top floor and the balcony overlooks the parking lot
• Financial info: Has down payment assistance
• HOA & community: Monthly condo fee of $370; HOA fees cover garbage collection, gas fee, common grounds maintenance, management fee, pest control, sewage service and water

Exterior

• Parking: Detached parking
• Utilities: Public water; Connected sewer; Electric water heater; Underground utilities; Internet service available
• Home design: Condo unit on 2nd level (top floor); Existing construction; Siding: Hardiplank; Foundation supported by pillars/support
• Construction: Hardiplank siding; Pillars/support foundation
• Exterior features: Balcony; Open deck; Community in-ground pool with perimeter fencing; Condo unit (Unit 308); Garbage fee included

Interior

• Kitchen: Electric cooktop; Built-in dishwasher; Solid surface countertops
• Bedrooms: Bedroom on main level
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central electric cooling
• Interior features: Smooth ceilings; Hardwood floors; Gas fireplace with gas starter in the living room; Solid surface kitchen countertops; No additional built-in interior features listed
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located on the main level (laundry closet/space)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

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 ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.3% in Homewood — 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 80/100 on livability (#5 in AL, #1,730 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Homewood City (suburban): math 55% / reading 74% proficiency, ranked #3 of 129 in AL (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shades Cahaba Elementary School (math 48% / reading 70%, grade B-, #67 of 627 statewide, top 11%, 501 students, 24% FRL); Homewood High School (math 62% / reading 63%, grade B-, #4 of 305 statewide, top 1%, 1,330 students, 28% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 20 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $114k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,749 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.08% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.87%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-9,640
• Equity at exit: $22,365

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $8,712
• Equity at exit: $12,969

Cash invested: $42,000 (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 35216

• Rents YoY: 2.6%
• Active inventory: 135
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,616 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$187 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $240

Break-even live

Break-even rent $1,312

Max offer price $149,999

Occupancy floor 80%

Sensitivity live

Price	-10% $344	-5% $292	+0% $240	+5% $188	+10% $137
Rent	-10% $113	-5% $176	+0% $240	+5% $304	+10% $368
Rate	-1.0pp $316	-0.5pp $278	base $240	+0.5pp $201	+1.0pp $162

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
153 Old Montgomery Hwy Vestavia Hills, AL	2.0	2.0	992	$1,800	$1.81	2d	1	0.24mi
150 Old Montgomery Hwy Unit 1 C Birmingham, AL	2.0	2.0	992	$1,750	$1.76	15d	1	0.25mi
150 Old Montgomery Hwy Birmingham, AL	2.0	2.0	970	$1,750	$1.80	2d	1	0.25mi
1301 Lakeshore Dr Homewood, AL	3.0	1.0–2.0	1175	$1,240	$1.06	2d	12	0.29mi
1903 Vestavia Ct Vestavia Hills, AL	1.0–3.0	1.0–2.0	1001	$1,095	$1.09	2d	6	0.63mi
3450 Manor Dr Homewood, AL	1.0–2.0	1.0–2.0	1050	$2,000	$1.90	3d	10	0.87mi
3421 Sandner Ct Unit D Homewood, AL	2.0	1.0	864	$1,800	$2.08	44d	1	0.90mi
3425 Sandner Ct Unit D Homewood, AL	2.0	1.0	864	$1,500	$1.74	44d	1	0.91mi
3441 Sandner Ct Homewood, AL	1.0	1.0	647	$1,500	$2.32	11d	1	0.93mi
3120 Lancaster Ct Unit A Homewood, AL	1.0	1.0	800	$2,499	$3.12	2d	1	1.10mi
1905 Courtney Dr Apt 15 Homewood, AL	1.0	1.0	565	$950	$1.68	44d	1	1.24mi
1860 Oxmoor Rd Unit 532 Homewood, AL	2.0	2.0	1118	$3,950	$3.53	3d	1	1.33mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $149,999 Active 20 DOM
2. 2026-06-17
   days on market $149,999 Active 19 DOM
3. 2026-06-16
   days on market $149,999 Active 18 DOM
4. 2026-06-15
   days on market $149,999 Active 17 DOM
5. 2026-06-13
   days on market $149,999 Active 15 DOM
6. 2026-06-10
   days on market $149,999 Active 12 DOM
7. 2026-06-09
   days on market $149,999 Active 11 DOM
8. 2026-06-08
   days on market $149,999 Active 10 DOM
9. 2026-06-07
   days on market $149,999 Active 9 DOM
10. 2026-06-03
    days on market $149,999 Active 5 DOM
11. 2026-06-02
    days on market $149,999 Active 4 DOM
12. 2026-06-01
    days on market $149,999 Active 3 DOM
13. 2026-05-31
    days on market $149,999 Active 2 DOM
14. 2026-05-29
    listed $149,999 Active
15. 2026-05-27
    historical $149,999
16. 2022-03-04
    soldstatus $114,100 Sold 373-char remark

    Show marketing remark (373 chars)

    Beautifully updated, super cute, one bedroom, one bath HOMEWOOD condo! Walking distance to Sanford and Brookwood and 8 minutes to UAB, this is the perfect location. Quiet condo complex, popular with students and medical personnel, this is a favored upstairs unit. Great pool, lovely hardwoods throughout, stack washer/dryer, dog play areas and lots of light. Move in ready.

17. 2022-01-14
    historical Contingent 373-char remark

    Show marketing remark (373 chars)

    Beautifully updated, super cute, one bedroom, one bath HOMEWOOD condo! Walking distance to Sanford and Brookwood and 8 minutes to UAB, this is the perfect location. Quiet condo complex, popular with students and medical personnel, this is a favored upstairs unit. Great pool, lovely hardwoods throughout, stack washer/dryer, dog play areas and lots of light. Move in ready.

18. 2022-01-11
    listed $114,000 Active 373-char remark

    Show marketing remark (373 chars)

    Beautifully updated, super cute, one bedroom, one bath HOMEWOOD condo! Walking distance to Sanford and Brookwood and 8 minutes to UAB, this is the perfect location. Quiet condo complex, popular with students and medical personnel, this is a favored upstairs unit. Great pool, lovely hardwoods throughout, stack washer/dryer, dog play areas and lots of light. Move in ready.

19. 2021-07-20
    price $129,000
20. 2021-06-10
    soldstatus $106,000 Sold
21. 2021-03-27
    historical
22. 2021-03-25
    listed $105,000 Active
23. 2021-03-23
    historical $105,000
24. 2018-09-06
    soldstatus $93,000 Sold
25. 2018-08-03
    historical Contingent
26. 2018-07-12
    listed $93,000 Active
27. 2015-05-21
    soldstatus $68,900
28. 2015-02-16
    listed $68,900

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 6 d/yr ≥106°F today · 16 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: $19,396
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − Depreciation: −$4,364
• Taxable income: $527
• Est. tax owed @ 24.0%: −$127
• After-tax cash flow: $2,757/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: Homewood City
• NCES district ID: 0101760
• Math proficiency: 55% ▼ -20.00%
• Reading proficiency: 74% ▲ 6.00%
• Median HH income: $63,366
• Composite: 56.01/100
• National rank: #1189
• State rank: #3 of 129 in AL

Livability — Homewood

• Score: 80/100
• State rank: #5
• US rank: #1730

Category grades

Amenities C Commute A+ Cost of living F Crime B Employment A+ Housing A+ Health & safety C User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homewood, AL
• County: Jefferson County · 527,445 people
• City population: 32,734
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 34,327
• Household income: $74,525
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 1747.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 61% Black 24% Hispanic / Latino 8% Asian 5% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Arabic 1%

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: ▼ -259.83%
• Current HPI: 239.8705
• Rent YoY: ▲ 2.59%
• 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

+117.7% since first listed

15 events — show timeline

• 2026-05-29 Listed $149,999 Greater Alabama MLS
• 2026-05-27 Coming Soon $149,999 Greater Alabama MLS
• 2022-03-04 Sold (MLS) $114,100 Greater Alabama MLS
• 2022-01-14 Contingent — Greater Alabama MLS
• 2022-01-11 Listed $114,000 Greater Alabama MLS
• 2021-07-20 Price Changed $129,000 Greater Alabama MLS
• 2021-06-10 Sold (MLS) $106,000 Greater Alabama MLS
• 2021-03-27 Delisted — Greater Alabama MLS
• 2021-03-25 Listed $105,000 Greater Alabama MLS
• 2021-03-23 Coming Soon $105,000 Greater Alabama MLS
• 2018-09-06 Sold (MLS) $93,000 Greater Alabama MLS
• 2018-08-03 Contingent — Greater Alabama MLS
• 2018-07-12 Listed $93,000 Greater Alabama MLS
• 2015-05-21 Sold (MLS) $68,900 Greater Alabama MLS
• 2015-02-16 Listed $68,900 Greater Alabama MLS