1515 13th Ave S · Birmingham, AL 35205

$120,000

4 bd · 2.0 ba · 2,848 sqft · SingleFamily public records · 4 Days on market

Built 1920 7,405 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into the charm of a bygone era with this historic home brimming with opportunity. This property is a true diamond in the rough, ready for a complete renovation to restore it to its former glory. Perfectly positioned just a short walk from UAB and restaurants, the location offers unbeatable convenience. Whether you're an investor, builder, or visionary homeowner, this is a rare chance to create something truly special in UAB/Southside. Bring your plans and imagination—this one is ready for a transformation.

Key facts

• Complete renovation
• Short walk from uab
• Historic home

Tags

• HISTORIC HOME
• COMPLETE RENOVATION
• SHORT WALK FROM UAB

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $725 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 13.5% 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: Glen Iris Elementary School (math 4% / reading 19%, grade F, #556 of 627 statewide, top 89%, 731 students, 78% FRL); Parker High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 826 students, 90% FRL) — zoned schools at 84% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• At $1,924/mo this rent would consume 45% of the median local household income ($51k/yr) (locally 1468% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $44k; list at $120k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $120,000

Questions for the listing agent

1. Built in 1920 — 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: 1.60% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.89%
• DSCR: 2.15
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $475,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1507 12th St S	0.36mi	4/3.5	2,848 (0%)	2mo	$540,000	$190	75
1425 18th St S	0.36mi	4/2.5	2,965 (+4%)	8mo	$465,000	$157	68
1426 16th St S	0.12mi	3/2.5 (-1)	2,638 (-7%)	8mo	$440,000	$167	68
1601 15th Ave S	0.18mi	4/1.5	2,530 (-11%)	4mo	$398,000	$157	68
1618 Cullom St S	0.52mi	3/2.0 (-1)	2,718 (-5%)	4mo	$417,000	$153	60
1308 18th Ave S	0.47mi	4/2.5	3,125 (+10%)	1mo	$585,000	$187	59
1532 19th St S	0.38mi	4/3.0	3,040 (+7%)	11mo	$342,600	$113	58
1730 Cullom St S	0.60mi	5/3.0 (+1)	2,843 (-0%)	9mo	$430,000	$151	55
1109 Cullom St S	0.34mi	4/3.0	2,504 (-12%)	9mo	$437,500	$175	52
1416 17th St S	0.18mi	4/2.5	2,502 (-12%)	21mo	$535,000	$214	52
1632 11th Pl S	0.55mi	4/3.5	2,891 (+2%)	17mo	$460,000	$159	52
100 Penny Ln	0.52mi	3/3.5 (-1)	3,018 (+6%)	14mo	$860,000	$285	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 · 2.59% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 1.77×
• Total profit: $25,938
• Equity at exit: $17,892

10-year hold

• IRR: 27.2%
• Equity multiple: 3.35×
• Total profit: $78,848
• Equity at exit: $10,375

Cash invested: $33,600 (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 35205

• Rents YoY: 2.6%
• Active inventory: 125
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,924 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$116 /mo · $1,391/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $725

Break-even live

Break-even rent $1,007

Max offer price $120,000

Occupancy floor 57%

Sensitivity live

Price	-10% $793	-5% $759	+0% $725	+5% $691	+10% $657
Rent	-10% $573	-5% $649	+0% $725	+5% $801	+10% $877
Rate	-1.0pp $785	-0.5pp $755	base $725	+0.5pp $694	+1.0pp $662

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 28th Pl S Unit 3 Birmingham, AL	4.0	4.0	2810	$2,700	$0.96	45d	1	1.31mi

Listing history 3 events

1. 2026-04-29
   status Pending
2. 2026-04-24
   listed $120,000 Active
3. 1989-07-06
   soldstatus $44,220

ⓘ 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: $1,391 · $116/mo
• Projected year-2 tax: $1,391 · $116/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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,090
• − Mortgage interest: −$6,722
• − Property taxes: −$1,391
• − Insurance: −$600
• − Repairs & maintenance: −$1,847
• − Management: −$1,847
• − Depreciation: −$3,491
• Taxable income: $7,191
• Est. tax owed @ 24.0%: −$1,726
• After-tax cash flow: $6,972/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): 18,858
• Household income: $51,158
• Rent vs Own: 67.2% rent · 32.8% own
• Severe rent burden: 1468.0

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 60% Black 26% Hispanic / Latino 5% Asian 5% Two or more races 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 2% Chinese 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: ▼ -199.42%
• Current HPI: 291.38
• 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

+171.4% since first listed

3 events — show timeline

• 2026-04-29 Pending — Greater Alabama MLS
• 2026-04-24 Listed $120,000 Greater Alabama MLS
• 1989-07-06 Sold (Public Records) $44,220 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,391 · +0.0% YoY. Source: county tax records.