1606 51st St · Birmingham, AL 35208

$55,000

3 bd · 1.0 ba · 1,222 sqft · SingleFamily public records · 266 Days on market

Built 1940 7,405 sqft lot $45/sqft · 15% below area Est $65k · 15% 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 +30.0/30.0
• ARV discount +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

This 3 bedroom, 1 bathroom home offers solid investment potential with a new roof installed in 2025 and reliable tenants already in place. The property provides steady rental income, making it a strong addition to any portfolio, while the recent roof update gives peace of mind on one of the biggest expenses. With manageable upkeep and income-producing occupancy, this home is well-suited for both new and seasoned investors. Rent 683.00, CapRate 14.90%.

Key facts

• Steady rental income
• New roof
• 7,405 sq ft lot

Tags

• NEW ROOF
• STEADY RENTAL INCOME
• INCOME PRODUCING OCCUPANCY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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-, 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 fast (+7.2%/yr); 122 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); 58% 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 36% 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 $380 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1940 — 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 $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 266 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
9. 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.
10. 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: 2.08% ✓
• Cap rate: 16.57%
• Cash-on-cash: 36.72%
• DSCR: 2.63
• GRM: 4.0

CMA / ARV

• ARV (median comp): $65,055
• List price: $55,000
• Delta: -15.46%
• 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
1508 W 51st St	0.06mi	3/1.5	1,264 (+3%)	2mo	$30,000	$24	88
5528 Avenue Q	0.28mi	3/1.0	1,252 (+2%)	2mo	$52,900	$42	81
1113 51st St	0.37mi	3/2.0	1,231 (+1%)	3mo	$204,900	$166	75
5621 Avenue Q	0.32mi	3/1.0	1,136 (-7%)	1mo	$72,000	$63	72
1836 Bessemer Rd	0.53mi	3/1.0	1,258 (+3%)	4mo	$55,000	$44	67
5625 Avenue Q	0.34mi	3/1.0	1,103 (-10%)	3mo	$22,000	$20	66
1569 Meadow Ln	0.65mi	3/1.5	1,192 (-2%)	2mo	$50,000	$42	62
1515 35th St	0.75mi	3/1.5	1,205 (-1%)	1mo	$80,000	$66	60
5604 Terrace O	0.29mi	4/1.0 (+1)	1,072 (-12%)	2mo	$80,000	$75	59
4732 Terrace	0.69mi	3/1.0	1,125 (-8%)	0mo	$29,500	$26	54
4637 Avenue R	0.38mi	2/1.0 (-1)	1,378 (+13%)	3mo	$28,500	$21	54
1037 W 51st St	0.58mi	3/2.0	1,392 (+14%)	3mo	$174,000	$125	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: 37.6%
• Equity multiple: 2.70×
• Total profit: $26,232
• Equity at exit: $8,201

10-year hold

• IRR: 46.4%
• Equity multiple: 6.48×
• Total profit: $84,457
• Equity at exit: $4,755

Cash invested: $15,400 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,143 high
• Mortgage (P&I): −$288
• Tax from tax record: −$120 /mo · $1,444/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $471

Break-even live

Break-even rent $546

Max offer price $55,000

Occupancy floor 54%

Sensitivity live

Price	-10% $502	-5% $487	+0% $471	+5% $456	+10% $440
Rent	-10% $381	-5% $426	+0% $471	+5% $516	+10% $562
Rate	-1.0pp $499	-0.5pp $485	base $471	+0.5pp $457	+1.0pp $442

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1632 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1337	$1,100	$0.82	44d	1	0.04mi
1632 51st St W Birmingham, AL	3.0	1.0	1337	$1,000	$0.75	2d	1	0.04mi
1556 Burgin Ave Birmingham, AL	4.0	1.0	1168	$1,100	$0.94	19d	1	0.15mi
1556 Burgin Ave Birmingham, AL	3.0	1.0	1168	$1,100	$0.94	22d	1	0.15mi
1606 49th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1136	$1,100	$0.97	44d	1	0.15mi
5219 Court Q Birmingham, AL	3.0	2.0	1082	$1,200	$1.11	19d	1	0.19mi
5516 Avenue P Birmingham, AL	2.0	1.0	888	$1,000	$1.13	44d	1	0.24mi
5211 Ter Q Unit Q Birmingham, AL	2.0	1.0	756	$775	$1.03	44d	1	0.24mi
5320 Ter Q Unit Q Birmingham, AL	3.0	2.0	1116	$1,250	$1.12	44d	1	0.26mi
5604 Terrace O Birmingham, AL	4.0	1.0	1072	$1,325	$1.24	44d	1	0.27mi
1781 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1069	$950	$0.89	44d	1	0.30mi
1757 48th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1164	$1,295	$1.11	3d	1	0.30mi
1429 47th Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	768	$750	$0.98	44d	1	0.31mi
5713 Avenue P Unit P Birmingham, AL	3.0	1.0	1300	$1,100	$0.85	19d	1	0.34mi
4619 Terrace Q Birmingham, AL	3.0	2.0	1198	$900	$0.75	44d	1	0.35mi
5717 Avenue O Unit O Birmingham, AL	3.0	2.0	1029	$1,250	$1.21	44d	1	0.38mi
1515 45th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1440	$875	$0.61	3d	1	0.38mi
5725 Avenue O Unit O Birmingham, AL	3.0	1.0	957	$1,073	$1.12	24d	1	0.40mi
4724 Court R Birmingham, AL	2.0	1.0	1016	$895	$0.88	15d	1	0.41mi
1410 46th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1200	$1,000	$0.83	44d	1	0.41mi
4929 Avenue R Unit R Birmingham, AL	2.0	1.0	962	$950	$0.99	44d	1	0.43mi
5820 Court Q Birmingham, AL	3.0	1.0	902	$1,200	$1.33	44d	1	0.44mi
4716 Court M Birmingham, AL	4.0	1.0	932	$1,200	$1.29	44d	1	0.45mi
1509 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1260	$1,123	$0.89	12d	1	0.45mi
5808 Court O Birmingham, AL	3.0	1.5	1227	$1,100	$0.90	44d	1	0.45mi
1604 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1100	$1,200	$1.09	24d	1	0.45mi
5832 Court Q Birmingham, AL	3.0	1.0	912	$950	$1.04	45d	1	0.46mi
1607 43rd Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1435	$1,150	$0.80	24d	1	0.48mi
1436 44th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1435	$1,495	$1.04	2d	1	0.49mi
1112 47th St W Birmingham, AL	2.0	1.0	1166	$975	$0.84	44d	1	0.55mi
1617 42nd Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1413	$1,030	$0.73	16d	1	0.56mi
4801 Avenue S Birmingham, AL	3.0	1.0	1310	$1,000	$0.76	44d	1	0.59mi
1540 42nd Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	899	$1,037	$1.15	44d	1	0.59mi
4825 Avenue S Birmingham, AL	3.0	1.0	1310	$1,050	$0.80	16d	1	0.59mi
709 30th St SW Birmingham, AL	3.0	1.0	1273	$1,000	$0.79	44d	1	0.61mi
2904 Garrison Ave SW Birmingham, AL	4.0	2.0	952	$1,050	$1.10	24d	1	0.61mi
1037 47th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1299	$1,000	$0.77	44d	1	0.62mi
4736 Court S Birmingham, AL	3.0	1.5	1300	$1,200	$0.92	3d	1	0.62mi
4732 Court S Birmingham, AL	3.0	1.0	1372	$1,100	$0.80	44d	1	0.62mi
1340 Pineview Rd Birmingham, AL	3.0	2.0	1116	$1,075	$0.96	44d	1	0.63mi

Listing history 23 events

1. 2026-06-18
   days on market $55,000 Active 266 DOM
2. 2026-06-17
   days on market $55,000 Active 265 DOM
3. 2026-06-16
   days on market $55,000 Active 264 DOM
4. 2026-06-15
   days on market $55,000 Active 263 DOM
5. 2026-06-13
   days on market $55,000 Active 261 DOM
6. 2026-06-10
   days on market $55,000 Active 258 DOM
7. 2026-06-09
   days on market $55,000 Active 257 DOM
8. 2026-06-08
   days on market $55,000 Active 256 DOM
9. 2026-06-07
   days on market $55,000 Active 255 DOM
10. 2026-06-03
    days on market $55,000 Active 251 DOM
11. 2026-06-02
    days on market $55,000 Active 250 DOM
12. 2026-06-01
    days on market $55,000 Active 249 DOM
13. 2026-05-31
    days on market $55,000 Active 248 DOM
14. 2026-01-24
    status Active 455-char remark

    Show marketing remark (455 chars)

    This 3 bedroom, 1 bathroom home offers solid investment potential with a new roof installed in 2025 and reliable tenants already in place. The property provides steady rental income, making it a strong addition to any portfolio, while the recent roof update gives peace of mind on one of the biggest expenses. With manageable upkeep and income-producing occupancy, this home is well-suited for both new and seasoned investors. Rent 683.00, CapRate 14.90%.

15. 2025-10-09
    historical Contingent 455-char remark

    Show marketing remark (455 chars)

    This 3 bedroom, 1 bathroom home offers solid investment potential with a new roof installed in 2025 and reliable tenants already in place. The property provides steady rental income, making it a strong addition to any portfolio, while the recent roof update gives peace of mind on one of the biggest expenses. With manageable upkeep and income-producing occupancy, this home is well-suited for both new and seasoned investors. Rent 683.00, CapRate 14.90%.

16. 2025-09-19
    listed $55,000 Active 455-char remark

    Show marketing remark (455 chars)

    This 3 bedroom, 1 bathroom home offers solid investment potential with a new roof installed in 2025 and reliable tenants already in place. The property provides steady rental income, making it a strong addition to any portfolio, while the recent roof update gives peace of mind on one of the biggest expenses. With manageable upkeep and income-producing occupancy, this home is well-suited for both new and seasoned investors. Rent 683.00, CapRate 14.90%.

17. 2024-08-02
    soldstatus $400,000
18. 2022-10-27
    soldstatus $455,000
19. 2017-03-07
    soldstatus $49,500
20. 2016-09-13
    soldstatus $9,900 Sold 69-char remark

    Show marketing remark (69 chars)

    Brick home for good investment opportunity. Would make a good rental.

21. 2016-08-17
    historical Contingent 69-char remark

    Show marketing remark (69 chars)

    Brick home for good investment opportunity. Would make a good rental.

22. 2016-08-11
    listed $9,900 Active 69-char remark

    Show marketing remark (69 chars)

    Brick home for good investment opportunity. Would make a good rental.

23. 2002-04-12
    soldstatus $55,000

ⓘ 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: $1,444 · $120/mo
• Projected year-2 tax: $1,444 · $120/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 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 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,715
• − Mortgage interest: −$3,081
• − Property taxes: −$1,444
• − Insurance: −$275
• − Repairs & maintenance: −$1,097
• − Management: −$1,097
• − Depreciation: −$1,600
• Taxable income: $5,121
• Est. tax owed @ 24.0%: −$1,229
• After-tax cash flow: $4,426/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

+0.0% since first listed

10 events — show timeline

• 2026-01-24 Relisted — Greater Alabama MLS
• 2025-10-09 Contingent — Greater Alabama MLS
• 2025-09-19 Listed $55,000 Greater Alabama MLS
• 2024-08-02 Sold (Public Records) $400,000 Public Records
• 2022-10-27 Sold (Public Records) $455,000 Public Records
• 2017-03-07 Sold (Public Records) $49,500 Public Records
• 2016-09-13 Sold (MLS) $9,900 Greater Alabama MLS
• 2016-08-17 Contingent — Greater Alabama MLS
• 2016-08-11 Listed $9,900 Greater Alabama MLS
• 2002-04-12 Sold (Public Records) $55,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,444 · +0.0% YoY. Source: county tax records.