2024 2nd Ave N #PENTHOUSEBirminghamAL35203
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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
Investment Highlights
Investment property for sale in Birmingham at 2024 2nd Ave N #PENTHOUSE, Birmingham, AL, 35203 offers a 5.19% rental yield on a $1,550,000 purchase with $6,700/mo rent. 47% in year one. Equity gained on principal adds $10,002/yr while 5% annual appreciation supports $428,236 over five years. Portfolio math shows five-year ROI at 78.23% and total cumulative return in cash at $392,881. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $6,700/mo property income against a $7,586/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1913
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 35203, Birmingham, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,507 (100%) |
| Owner Occupied HU | 364 (14.5%) |
| Renter Occupied HU | 1,505 (60.0%) |
| Vacant Housing Units | 638 (25.4%) |
| Median Home Value | $318,085 |
| Average Home Value | $347,551 |
Housing Distribution
Address Breakdown
Residential
1,819
Single Family
357
Multi-Family
1,462
Businesses
1,578
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Listed by: Ben Hedden • Bham Realty, LLC
Mls Name: GALMLS
Mls ID: #21439774