2024 2nd Ave N UNIT 1603BirminghamAL35203
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid, durable, and financeable, 2024 2nd Ave N UNIT 1603, Birmingham, AL, 35203 in Birmingham earns a 8.96% gross yield at $310,000. Rent of $2,314/mo nets $476/mo after the $1,394/mo mortgage. The 1.66 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $85,647 and $2,855/yr in equity accumulation project a total cumulative return of $147,864.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 7.2% |
| Monthly Cash Flow | $476 | $450 |
City averages based on Birmingham market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,314 |
| Total Monthly Debt Service | $1,715 |
| DSCR Ratio | 1.35x |
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 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
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 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lauren Shaw • South Main Realty
Mls Name: GALMLS
Mls Provider:
Mls ID: #21412156
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.