512 1st St N · Birmingham, AL 35204

$90,000

3 bd · 1.0 ba · 1,548 sqft · SingleFamily public records · 17 Days on market

Built 1925 7,840 sqft lot Est $90k · at est.

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.4/15.0
• Appreciation +5.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks

Investment property in the heart of Birmingham! Property is currently occupied with tenant paying $925 a month. Please do not disturb the tenant.

Key facts

• 7,840 sq ft lot
• Built 1925
• Listed 17 days

Property features AI

Finance

• Other: Property is in a flood plain; Lot approximately 0.18 acres; Subdivision: Smithfield South
• Financial info: No financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: On-street parking
• Security: No security features listed
• Utilities: Public water; Connected sewer; Electric water heater; Internet service available
• Home design: Existing year built (no further year provided); Wood construction; Crawl space foundation
• Construction: Wood construction
• Exterior features: No pool; No patio; No deck; No garden/patio; Not waterfront

Interior

• Kitchen: Laminate countertops; Built-in dishwasher; Electric oven
• Bedrooms: Three bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (shared)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Smooth ceilings; No additional interior features listed
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet on the main level; Has laundry

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 $323 ($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: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: Tuggle Elementary School (math 2% / reading 17%, grade F, #591 of 627 statewide, top 94%, 470 students, 87% FRL); Parker High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 826 students, 90% FRL).
• Market conditions: 64 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).

Forward outlook

• In year one you build about $1k of equity ($622 loan paydown + $577 appreciation (0.6% local appreciation)).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $52k; list at $90k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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: 1.34% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.39%
• DSCR: 1.68
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $89,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
944 4th St W	0.59mi	3/2.0	1,560 (+1%)	3mo	$170,000	$109	65
501 5th St SW	0.73mi	3/1.0	1,537 (-1%)	2mo	$65,000	$42	64
963 3rd St W	0.53mi	3/1.0	1,444 (-7%)	12mo	$75,500	$52	54
117 10th Ct	0.51mi	3/2.0	1,400 (-10%)	4mo	$150,000	$107	52
900 Center St	0.27mi	3/1.0	1,760 (+14%)	16mo	$78,000	$44	52
213 10th Ave N	0.44mi	4/1.5 (+1)	1,370 (-12%)	3mo	$110,000	$80	51
1124 2nd St N	0.70mi	3/1.0	1,368 (-12%)	2mo	$16,500	$12	46
504 Fulton Ave SW	0.73mi	3/1.0	1,517 (-2%)	20mo	$73,000	$48	46
882 6th St W	0.72mi	3/2.0	1,485 (-4%)	14mo	$147,500	$99	44
933 6th St W	0.74mi	2/2.0 (-1)	1,392 (-10%)	0mo	$35,000	$25	39
612 2nd St SW	0.63mi	3/1.0	1,320 (-15%)	12mo	$76,000	$58	36
820 7th St W	0.73mi	3/2.0	1,774 (+15%)	5mo	$131,000	$74	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.82×
• Total profit: $20,722
• Equity at exit: $29,055

10-year hold

• IRR: 20.2%
• Equity multiple: 3.37×
• Total profit: $59,643
• Equity at exit: $37,352

Cash invested: $25,200 (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 35204

• Home prices YoY: 0.3%
• Active inventory: 64
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,207 high
• Mortgage (P&I): −$472
• Tax from tax record: −$121 /mo · $1,454/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $323

Break-even live

Break-even rent $798

Max offer price $90,000

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
451 2nd St N Birmingham, AL	4.0	3.0	1400	$1,600	$1.14	43d	1	0.18mi
963 3rd St W Birmingham, AL	3.0	2.0	1444	$1,295	$0.90	23d	1	0.52mi
410 8th Ter W Birmingham, AL	3.0	1.0	1440	$1,200	$0.83	16d	1	0.54mi
854 5th St W Birmingham, AL	3.0	1.0	1501	$1,275	$0.85	43d	1	0.59mi
451 2nd Ave N Birmingham, AL	4.0	3.0	1400	$1,600	$1.14	23d	1	0.64mi
617 7th St W Birmingham, AL	3.0	1.5	1120	$1,175	$1.05	43d	1	0.70mi
915 6th St W Birmingham, AL	3.0	1.0	1332	$1,075	$0.81	43d	1	0.71mi
1153 2nd St N Birmingham, AL	3.0	1.0	1056	$1,150	$1.09	19d	1	0.79mi
724 4th Ct W Birmingham, AL	3.0	1.0	1300	$930	$0.72	43d	1	0.84mi
1216 4th Pl N Birmingham, AL	3.0	2.0	1565	$1,150	$0.73	43d	1	0.87mi
608 Fulton Ave SW Birmingham, AL	3.0	1.0	1271	$1,300	$1.02	43d	1	0.87mi
827 6th Ave W Birmingham, AL	3.0	1.0	1214	$1,075	$0.89	23d	1	0.89mi
644 Alabama Ave SW Birmingham, AL	3.0	1.0	1274	$1,125	$0.88	23d	1	0.95mi
757 10th Ave W Birmingham, AL	2.0	1.0	1136	$1,000	$0.88	43d	1	0.96mi
719 Washington Ave SW Birmingham, AL	3.0	1.0	1064	$950	$0.89	11d	1	1.05mi
1101 7th Ave W Birmingham, AL	3.0	1.0	1248	$1,250	$1.00	43d	1	1.12mi
1317 11th St N Birmingham, AL	3.0	1.0	1340	$1,200	$0.90	43d	1	1.13mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	2d	1	1.19mi
12 4th Ave SW Unit 1 Birmingham, AL	3.0	1.0	1336	$1,100	$0.82	43d	1	1.21mi
1108 4th Ct W Birmingham, AL	3.0	2.0	1623	$1,125	$0.69	3d	1	1.22mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	43d	1	1.23mi
353 16th Ave N Birmingham, AL	3.0	1.0	1200	$995	$0.83	43d	1	1.34mi
1230 4th Ter W Birmingham, AL	3.0	2.0	1540	$1,000	$0.65	43d	1	1.37mi
405 11th St SW Unit B Birmingham, AL	2.0	1.0	1065	$800	$0.75	43d	1	1.40mi
1012 Cotton Ave SW Birmingham, AL	3.0	1.0	1232	$1,000	$0.81	43d	1	1.41mi
600 19th St N Apt 202 Birmingham, AL	3.0	2.0	1248	$3,050	$2.44	11d	1	1.43mi
600 19th St N Unit 211 Birmingham, AL	2.0	2.0	1670	$3,250	$1.95	11d	1	1.43mi
600 19th St N Birmingham, AL	1.0–3.0	1.0–2.0	1120	$3,550	$3.17	16d	30	1.44mi
600 19th St N Birmingham, AL	1.0–3.0	1.0–3.0	1398	$4,560	$3.26	19d	83	1.44mi
806 Gamma St S Birmingham, AL	3.0	1.0	1252	$1,200	$0.96	43d	1	1.50mi

Listing history 12 events

1. 2026-06-18
   days on market $90,000 Active 17 DOM
2. 2026-06-17
   days on market $90,000 Active 16 DOM
3. 2026-06-16
   days on market $90,000 Active 15 DOM
4. 2026-06-15
   days on market $90,000 Active 14 DOM
5. 2026-06-13
   days on market $90,000 Active 12 DOM
6. 2026-06-10
   days on market $90,000 Active 9 DOM
7. 2026-06-09
   days on market $90,000 Active 8 DOM
8. 2026-06-08
   days on market $90,000 Active 7 DOM
9. 2026-06-07
   days on market $90,000 Active 6 DOM
10. 2026-06-03
    days on market $90,000 Active 2 DOM
11. 2026-06-01
    remarks 145-char remark
12. 2026-06-01
    listed $90,000 Active 1 DOM

ⓘ 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: $1,454 · $121/mo
• Projected year-2 tax: $1,454 · $121/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $14,489
• − Mortgage interest: −$5,041
• − Property taxes: −$1,454
• − Insurance: −$450
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$2,618
• Taxable income: $2,607
• Est. tax owed @ 24.0%: −$626
• After-tax cash flow: $3,253/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): 8,953
• Household income: $35,420
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 422.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Hispanic / Latino 5% Two or more races 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▲ 0.64%
• Current HPI: 201.0777
• Rent YoY: —
• 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

+718.2% since first listed

7 events — show timeline

• 2026-06-01 Listed $90,000 Greater Alabama MLS
• 2026-04-23 Rental Removed $925 RentEngineListings
• 2026-04-14 Listed for Rent $925 RentEngineListings
• 2024-12-10 Price Changed $77,900 Greater Alabama MLS
• 2021-09-28 Sold (Public Records) $52,000 Public Records
• 2002-09-19 Sold (Public Records) $39,000 Public Records
• 1978-05-06 Sold (Public Records) $11,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $1,454 · +0.0% YoY. Source: county tax records.