2308 Lantern Ln WMobileAL36693
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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 Mobile at 2308 Lantern Ln W, Mobile, AL, 36693 uses $76,079 cash to close to unlock $7,426/yr annual cash flow and $619/mo monthly cash flow. Total monthly income runs $1,914/mo, and a $1,123/mo payment keeps the spread at $619/mo. Purchase price stands at $229,500, and rental yield measures 10.01% with $1,914/mo rent. Return on cash invested shows 29.67% in year one, and 5% annual appreciation builds toward $63,407 over five years. Five-year ROI reaches 154.46% and total cumulative return in cash records $117,510. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,914/mo property income covering a $1,123/mo payment rather than investor’s personal income.
Single Family
Built in 1992
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36693, Mobile, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,986 (100%) |
| Owner Occupied HU | 5,549 (61.8%) |
| Renter Occupied HU | 2,629 (29.3%) |
| Vacant Housing Units | 808 ( 9.0%) |
| Median Home Value | $234,614 |
| Average Home Value | $284,297 |
Housing Distribution
Address Breakdown
Residential
8,474
Single Family
6,581
Multi-Family
1,893
Businesses
653
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