2024 2nd Ave N UNIT 1703BirminghamAL35203
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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 UNIT 1703, Birmingham, AL, 35203 uses $91,163 cash to close to unlock $8,877/yr annual cash flow and $740/mo monthly cash flow. Total monthly income runs $2,292/mo, and a $1,346/mo payment keeps the spread at $740/mo. Purchase price stands at $275,000, and rental yield measures 10% with $2,292/mo rent. Return on cash invested shows 29.65% in year one, and 5% annual appreciation builds toward $75,977 over five years. Five-year ROI reaches 154.34% and total cumulative return in cash records $140,699. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,292/mo property income covering a $1,346/mo payment rather than investor’s personal income.
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: Candis Austin • EXP Realty LLC
Mls Name: GALMLS
Mls ID: #21440886