9869 Greenlee Rd · Birmingham, AL 35215

$89,900

3 bd · 1.0 ba · 1,212 sqft · SingleFamily public records · 64 Days on market

Built 1956 0.42 ac lot $74/sqft · 17% below area Est $109k · 17% 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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming home in Birmingham featuring 3 bedrooms and 1 full bath. This cozy residence offers a functional layout with comfortable living spaces and great natural light throughout. The kitchen provides ample cabinet space and flows into the dining area, making it ideal for everyday living. Enjoy a spacious yard perfect for relaxing or entertaining. Conveniently located near shopping, dining, and major roadways, this home is a great opportunity for homeowners or investors alike!

Key facts

• Spacious yard
• Ample cabinet space
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• AMPLE CABINET SPACE
• SPACIOUS YARD
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 rising (+3.0%/yr); 333 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $622 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $52k; list at $90k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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: 1.37% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.63%
• DSCR: 1.70
• GRM: 6.1

CMA / ARV

• ARV (median comp): $108,872
• List price: $89,900
• Delta: -17.43%
• 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
204 Boxwood Cir	0.09mi	3/1.0	1,252 (+3%)	4mo	$70,000	$56	87
9809 Maple Ln	0.32mi	3/1.0	1,192 (-2%)	3mo	$130,000	$109	80
240 Mccormick Ave	0.26mi	3/1.0	1,262 (+4%)	6mo	$141,000	$112	76
216 Westwood Dr	0.16mi	3/1.0	1,384 (+14%)	0mo	$78,500	$57	69
252 Westwood Dr	0.28mi	3/1.5	1,124 (-7%)	6mo	$93,000	$83	68
9828 Red Mill Rd	0.27mi	3/1.0	1,106 (-9%)	8mo	$99,900	$90	66
312 Pine St	0.34mi	3/1.0	1,080 (-11%)	1mo	$60,000	$56	65
201 Carol Dr	0.40mi	3/1.0	1,096 (-10%)	2mo	$154,000	$141	64
328 Pat Ave	0.68mi	3/1.0	1,244 (+3%)	1mo	$93,500	$75	63
408 Ford Way	0.36mi	3/1.0	1,074 (-11%)	2mo	$27,500	$26	62
405 Sunbrook Ave	0.53mi	3/1.5	1,120 (-8%)	2mo	$148,000	$132	59
321 Joan Ave	0.67mi	3/1.0	1,294 (+7%)	2mo	$121,000	$94	56

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 · 3.04% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.25×
• Total profit: $6,399
• Equity at exit: $13,404

10-year hold

• IRR: 15.9%
• Equity multiple: 2.30×
• Total profit: $32,809
• Equity at exit: $7,773

Cash invested: $25,172 (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 35215

• Home prices YoY: -34.4%
• Rents YoY: 3.0%
• Active inventory: 333
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,236 high
• Mortgage (P&I): −$471
• Tax from tax record: −$140 /mo · $1,675/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $328

Break-even live

Break-even rent $821

Max offer price $89,900

Occupancy floor 68%

Sensitivity live

Price	-10% $379	-5% $353	+0% $328	+5% $302	+10% $277
Rent	-10% $230	-5% $279	+0% $328	+5% $377	+10% $425
Rate	-1.0pp $373	-0.5pp $351	base $328	+0.5pp $305	+1.0pp $281

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9844 Greenlee Rd Birmingham, AL	3.0	1.0	1046	$950	$0.91	45d	1	0.05mi
221 Lawson Rd Birmingham, AL	3.0	1.5	1102	$1,325	$1.20	24d	1	0.09mi
204 McCormick Ave Birmingham, AL	3.0	1.0	880	$980	$1.11	4d	1	0.14mi
209 Tucker Ave Birmingham, AL	3.0	1.0	1044	$1,100	$1.05	45d	1	0.24mi
252 Westwood Dr Birmingham, AL	3.0	1.5	1124	$1,400	$1.25	2d	1	0.27mi
252 Meadowdale Ave Birmingham, AL	3.0	1.0	920	$995	$1.08	45d	1	0.31mi
316 Pine St Birmingham, AL	3.0	1.0	1232	$1,100	$0.89	45d	1	0.33mi
426 Buckingham Cir Birmingham, AL	2.0	1.5	1080	$1,013	$0.94	45d	1	0.40mi
201 Rose Dr Birmingham, AL	3.0	1.0	972	$1,100	$1.13	17d	1	0.44mi
957 Hickory Cir Birmingham, AL	3.0	2.0	1364	$1,195	$0.88	4d	1	0.55mi
628 Annie Laura Dr Birmingham, AL	3.0	1.0	844	$1,195	$1.42	45d	1	0.57mi
216 Sanford Dr Birmingham, AL	3.0	1.5	1134	$1,200	$1.06	45d	1	0.60mi
529 Robison Dr Birmingham, AL	2.0	1.0	960	$960	$1.00	22d	1	0.69mi
208 Sam Pate Dr Birmingham, AL	3.0	2.0	988	$1,385	$1.40	3d	1	0.71mi
945 Elizabeth Dr Birmingham, AL	3.0	1.0	1227	$1,125	$0.92	4d	1	0.75mi
932 Five Mile Rd Birmingham, AL	3.0	1.5	1200	$1,175	$0.98	20d	1	0.77mi
848 Old Trail Rd Birmingham, AL	2.0	1.5	930	$925	$0.99	24d	1	0.81mi
832 Meadowbrook Dr Birmingham, AL	3.0	2.0	1228	$1,225	$1.00	24d	1	0.86mi
912 Meadowbrook Dr Birmingham, AL	3.0	1.0	1178	$1,100	$0.93	45d	1	0.88mi
818 Sunset Dr Birmingham, AL	3.0	1.0	992	$1,000	$1.01	45d	1	0.89mi
241 Mamie Ln Birmingham, AL	3.0	2.0	1242	$1,495	$1.20	4d	1	0.92mi
940 Meadowbrook Dr Birmingham, AL	4.0	1.0	1149	$1,300	$1.13	45d	1	0.93mi
603 Camp Ct Birmingham, AL	3.0	1.0	936	$1,300	$1.39	45d	1	0.95mi
46 Sunscape Dr Birmingham, AL	4.0	2.0	1178	$1,450	$1.23	45d	1	1.06mi
40 Sunscape Dr Birmingham, AL	3.0	2.0	1283	$1,555	$1.21	2d	1	1.08mi
8917 Roebuck Blvd Apt 11 Birmingham, AL	2.0	1.0	880	$725	$0.82	17d	1	1.10mi
726 Orchard Rd Birmingham, AL	3.0	1.0	1120	$1,095	$0.98	45d	1	1.12mi
9228 Brookhurst Dr Birmingham, AL	3.0	1.0	1146	$999	$0.87	45d	1	1.15mi
217 Killough Dr Birmingham, AL	3.0	2.0	1212	$1,200	$0.99	15d	1	1.15mi
1112 Violet Dr Birmingham, AL	3.0	2.0	1414	$1,600	$1.13	13d	1	1.26mi
520 Camellia Rd Birmingham, AL	3.0	1.0	1053	$1,100	$1.04	4d	1	1.27mi
736 Gene Reed Rd Birmingham, AL	3.0	2.0	1353	$1,220	$0.90	45d	1	1.33mi
433 Orchid Rd Birmingham, AL	3.0	1.0	1162	$1,255	$1.08	17d	1	1.43mi
600 Sundale Dr Birmingham, AL	2.0	1.0	950	$800	$0.84	45d	1	1.48mi

Listing history 18 events

1. 2026-06-21
   statusdays on market $89,900 Pending 64 DOM
2. 2026-06-18
   days on market $89,900 Active 61 DOM
3. 2026-06-17
   days on market $89,900 Active 60 DOM
4. 2026-06-16
   days on market $89,900 Active 59 DOM
5. 2026-06-15
   days on market $89,900 Active 58 DOM
6. 2026-06-13
   pricedays on market $89,900 Active 56 DOM
7. 2026-06-10
   days on market $94,900 Active 53 DOM
8. 2026-06-09
   days on market $94,900 Active 52 DOM
9. 2026-06-08
   days on market $94,900 Active 51 DOM
10. 2026-06-07
    days on market $94,900 Active 50 DOM
11. 2026-06-03
    days on market $94,900 Active 46 DOM
12. 2026-06-02
    days on market $94,900 Active 45 DOM
13. 2026-06-01
    days on market $94,900 Active 44 DOM
14. 2026-05-31
    days on market $94,900 Active 43 DOM
15. 2026-04-18
    listed $94,900 Active 497-char remark

    Show marketing remark (497 chars)

    Welcome to this charming home in Birmingham featuring 3 bedrooms and 1 full bath. This cozy residence offers a functional layout with comfortable living spaces and great natural light throughout. The kitchen provides ample cabinet space and flows into the dining area, making it ideal for everyday living. Enjoy a spacious yard perfect for relaxing or entertaining. Conveniently located near shopping, dining, and major roadways, this home is a great opportunity for homeowners or investors alike!

16. 2016-10-06
    soldstatus $51,500
17. 2007-06-27
    soldstatus $59,000
18. 2003-04-15
    soldstatus $40,750

ⓘ 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: $1,675 · $140/mo
• Projected year-2 tax: $1,675 · $140/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 5/10 Major 7 d/yr ≥105°F today · 18 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: $14,830
• − Mortgage interest: −$5,036
• − Property taxes: −$1,675
• − Insurance: −$450
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$2,615
• Taxable income: $2,682
• Est. tax owed @ 24.0%: −$644
• After-tax cash flow: $3,291/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): 43,903
• Household income: $52,793
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1729.0

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 (75%)
• Race & ethnicity: Black 75% White 15% Hispanic / Latino 7% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -112.97%
• Current HPI: 215.0607
• Rent YoY: ▲ 3.04%
• 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

+132.9% since first listed

4 events — show timeline

• 2026-04-18 Listed $94,900 Greater Alabama MLS
• 2016-10-06 Sold (Public Records) $51,500 Public Records
• 2007-06-27 Sold (Public Records) $59,000 Public Records
• 2003-04-15 Sold (Public Records) $40,750 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,675 · +4.2% YoY. Source: county tax records.