1040 Broadway Park UNIT 323BirminghamAL35209
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid, durable, and financeable, 1040 Broadway Park UNIT 323, Birmingham, AL, 35209 in Birmingham earns a 8.82% gross yield at $247,900. Rent of $1,823/mo nets $424/mo after the $1,115/mo mortgage. The 1.63 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $68,490 and $2,283/yr in equity accumulation project a total cumulative return of $120,716.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 7.2% |
| Monthly Cash Flow | $424 | $450 |
City averages based on Birmingham market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,823 |
| Total Monthly Debt Service | $1,301 |
| DSCR Ratio | 1.40x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 35209, Birmingham, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,204 (100%) |
| Owner Occupied HU | 5,576 (39.3%) |
| Renter Occupied HU | 6,610 (46.5%) |
| Vacant Housing Units | 2,018 (14.2%) |
| Median Home Value | $487,776 |
| Average Home Value | $591,314 |
Housing Distribution
Address Breakdown
Residential
13,671
Single Family
10,594
Multi-Family
3,077
Businesses
2,312
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Condo
Built in 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 35209, Birmingham, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,204 (100%) |
| Owner Occupied HU | 5,576 (39.3%) |
| Renter Occupied HU | 6,610 (46.5%) |
| Vacant Housing Units | 2,018 (14.2%) |
| Median Home Value | $487,776 |
| Average Home Value | $591,314 |
Housing Distribution
Address Breakdown
Residential
13,671
Single Family
10,594
Multi-Family
3,077
Businesses
2,312
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Krisalyn Crye • ARC Realty - Homewood
Mls Name: GALMLS
Mls ID: #21438053