528 1st St SW · Birmingham, AL 35211

$18,000

2 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 255 Days on market

Built 1930 9,583 sqft lot $17/sqft · 66% below area

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

Listing remarks MLS

TRANSFER OF TAX INTEREST ONLY -- Great investment opportunity to own this partially gutted property and transform it how you like. Currently zoned R5 on a large corner!! Possibilities are endless!! MAKE YOUR BEST OFFER BEING SOLD "AS IS" ----CASH ONLY---

Key facts

• 9,583 sq ft lot
• Built 1930
• Listed 255 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• Cap rate 54.0% 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 soft (-0.0%/yr); 152 active listings in the ZIP; 40 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 37% of the median local income ($35k/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 $124 of loan paydown is wiped out by about $540 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 + 0.0% rent growth), your $5k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 255 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $15,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 255 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 5.96% ✓
• Cap rate: 53.96%
• Cash-on-cash: 170.24%
• DSCR: 8.57
• GRM: 1.4

CMA / ARV

• ARV (median comp): $53,598
• List price: $18,000
• Delta: -66.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
446 1st St N	0.39mi	2/1.0	1,034 (-1%)	13mo	$75,000	$73	70
112 Kappa Ave S	0.51mi	3/1.0 (+1)	1,034 (-1%)	7mo	$25,000	$24	64
310 S Center St	0.19mi	3/1.0 (+1)	1,107 (+6%)	20mo	$97,000	$88	60
719 Washington Ave SW	0.63mi	3/1.0 (+1)	1,064 (+2%)	13mo	$40,000	$38	51
216 S 3rd Ave	0.68mi	3/1.0 (+1)	1,143 (+10%)	2mo	$75,000	$66	46
41 1st Ave S	0.51mi	2/1.0	958 (-8%)	24mo	$20,000	$21	43
503 4th Ct W	0.47mi	3/1.0 (+1)	1,178 (+13%)	16mo	$15,000	$13	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 61.5%
• Equity multiple: 3.50×
• Total profit: $12,595
• Equity at exit: $2,684

10-year hold

• IRR: 64.0%
• Equity multiple: 5.69×
• Total profit: $23,626
• Equity at exit: $1,556

Cash invested: $5,040 (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 35211

• Rents YoY: -0.0%
• Active inventory: 152
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$94
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$8
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $288

Break-even live

Break-even rent $708

Max offer price $18,000

Occupancy floor 68%

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
413 Fulton Ave SW Birmingham, AL	3.0	1.0	940	$525	$0.56	3d	1	0.31mi
608 Fulton Ave SW Birmingham, AL	3.0	1.0	1271	$1,300	$1.02	44d	1	0.47mi
112 Kappa Ave S Birmingham, AL	3.0	2.0	1034	$1,100	$1.06	44d	1	0.49mi
644 Alabama Ave SW Birmingham, AL	3.0	1.0	1274	$1,125	$0.88	24d	1	0.58mi
624 4th Ct W Birmingham, AL	3.0	1.5	992	$1,250	$1.26	44d	1	0.63mi
719 Washington Ave SW Birmingham, AL	3.0	1.0	1064	$950	$0.89	12d	1	0.63mi
12 4th Ave SW Unit 1 Birmingham, AL	3.0	1.0	1336	$1,100	$0.82	44d	1	0.69mi
724 4th Ct W Birmingham, AL	3.0	1.0	1300	$930	$0.72	44d	1	0.71mi
261 3rd Ave SW Birmingham, AL	1.0–2.0	1.0	634	$850	$1.34	3d	14	0.75mi
617 7th St W Birmingham, AL	3.0	1.5	1120	$1,175	$1.05	44d	1	0.76mi
310 Gamma St S Birmingham, AL	3.0	1.5	1001	$1,200	$1.20	16d	1	0.82mi
410 8th Ter W Birmingham, AL	3.0	1.0	1440	$1,200	$0.83	16d	1	0.83mi
908 4th Ave W Birmingham, AL	2.0	1.0	700	$745	$1.06	24d	1	0.86mi
827 6th Ave W Birmingham, AL	3.0	1.0	1214	$1,075	$0.89	24d	1	0.88mi
313 Beta St S Unit 317A Birmingham, AL	2.0	1.0	850	$799	$0.94	2d	1	0.91mi
1012 Cotton Ave SW Birmingham, AL	3.0	1.0	1232	$1,000	$0.81	44d	1	0.91mi
506 Alpha St S Birmingham, AL	3.0	1.0	944	$1,373	$1.45	44d	1	0.93mi
1000 4th Ave W Unit 4 Birmingham, AL	2.0	1.0	840	$823	$0.98	24d	1	0.93mi
1100 Cotton Ave SW Unit b Birmingham, AL	2.0	1.5	816	$988	$1.21	44d	1	0.97mi
963 3rd St W Birmingham, AL	3.0	2.0	1444	$1,295	$0.90	24d	1	0.98mi
1024 4th Ave W Unit B Birmingham, AL	2.0	1.0	840	$823	$0.98	44d	1	0.98mi
405 11th St SW Unit B Birmingham, AL	2.0	1.0	1065	$800	$0.75	44d	1	0.99mi
915 6th St W Birmingham, AL	3.0	1.0	1332	$1,075	$0.81	44d	1	1.01mi
905 7th St W Birmingham, AL	3.0	2.0	1029	$1,150	$1.12	44d	1	1.03mi
741 Center Pl SW Birmingham, AL	3.0	1.0	1101	$1,250	$1.14	16d	1	1.06mi
806 Gamma St S Birmingham, AL	3.0	1.0	1252	$1,200	$0.96	44d	1	1.10mi
1101 7th Ave W Birmingham, AL	3.0	1.0	1248	$1,250	$1.00	44d	1	1.11mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	2d	1	1.14mi
219 12th St W Birmingham, AL	2.0	1.0	800	$799	$1.00	24d	1	1.15mi
1220 Alabama Ave SW Birmingham, AL	3.0	1.5	1175	$1,350	$1.15	44d	1	1.19mi
1228 Fulton Ave SW Birmingham, AL	2.0	1.0	900	$800	$0.89	44d	1	1.19mi
856 Center Way SW Birmingham, AL	3.0	2.0	1142	$1,200	$1.05	44d	1	1.22mi
757 10th Ave W Birmingham, AL	2.0	1.0	1136	$1,000	$0.88	44d	1	1.23mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	44d	1	1.23mi
517 11th Ct W Birmingham, AL	2.0	1.0	970	$795	$0.82	44d	1	1.33mi
1153 2nd St N Birmingham, AL	3.0	1.0	1056	$1,150	$1.09	19d	1	1.35mi
916 14th St SW Unit A Birmingham, AL	2.0	1.0	870	$800	$0.92	24d	1	1.38mi
916 14th St SW Unit F Birmingham, AL	2.0	1.0	800	$800	$1.00	12d	1	1.38mi
916 14th St SW Unit F Birmingham, AL	2.0	1.0	870	$800	$0.92	44d	1	1.38mi
1400 7th Ave N Birmingham, AL	1.0	1.0	730	$961	$1.32	24d	3	1.42mi

Listing history 14 events

1. 2026-06-18
   days on market $18,000 Active 255 DOM
2. 2026-06-17
   days on market $18,000 Active 254 DOM
3. 2026-06-16
   days on market $18,000 Active 253 DOM
4. 2026-06-15
   days on market $18,000 Active 252 DOM
5. 2026-06-13
   days on market $18,000 Active 250 DOM
6. 2026-06-10
   days on market $18,000 Active 247 DOM
7. 2026-06-09
   days on market $18,000 Active 246 DOM
8. 2026-06-08
   days on market $18,000 Active 245 DOM
9. 2026-06-07
   days on market $18,000 Active 244 DOM
10. 2026-06-03
    days on market $18,000 Active 240 DOM
11. 2026-06-02
    days on market $18,000 Active 239 DOM
12. 2026-06-01
    days on market $18,000 Active 238 DOM
13. 2026-05-31
    days on market $18,000 Active 237 DOM
14. 2025-10-06
    listed $18,000 Active 266-char remark

    Show marketing remark (266 chars)

    TRANSFER OF TAX INTEREST ONLY -- Great investment opportunity to own this partially gutted property and transform it how you like. Currently zoned R5 on a large corner!! Possibilities are endless!! MAKE YOUR BEST OFFER BEING SOLD "AS IS" ----CASH ONLY---

ⓘ 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: $367 · $31/mo
• Projected year-2 tax: $367 · $31/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 5/10 Major FEMA zone AE · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 19 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: $12,873
• − Mortgage interest: −$1,008
• − Property taxes: −$367
• − Insurance: −$5,208
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$524
• Taxable income: $3,706
• Est. tax owed @ 24.0%: −$889
• After-tax cash flow: $2,572/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): 24,924
• Household income: $34,884
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2161.0

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 10% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8% French/Haitian/Cajun 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: ▼ -49.29%
• Current HPI: 91.2903
• Rent YoY: ▬ -0.01%
• 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

• 2025-10-06 Listed $18,000 Greater Alabama MLS

Property tax history

-2.6%/yr

Latest (2025): $367 · +0.0% YoY. Source: county tax records.