2963 Iron StAuburnAL36832
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThe cash-flow margin at 2963 Iron St, Auburn, AL, 36832 in Auburn is narrow, $156/mo net on $2,340/mo rent after the $1,740/mo debt service, but the property operates at break-even-plus, not a loss. At $386,900 with a 7.26% yield, the long-run equity case via 5% appreciation ($106,893 over five years) and $3,563/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.34 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $155,824.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.3% | 5.8% |
| Monthly Cash Flow | $156 | $1,250 |
City averages based on Auburn market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,340 |
| Total Monthly Debt Service | $2,030 |
| DSCR Ratio | 1.15x |
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.
Single Family
Built in 2024
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36832, Auburn, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,078 (100%) |
| Owner Occupied HU | 5,793 (36.0%) |
| Renter Occupied HU | 8,478 (52.7%) |
| Vacant Housing Units | 1,807 (11.2%) |
| Median Home Value | $295,260 |
| Average Home Value | $326,059 |
Housing Distribution
Address Breakdown
Residential
14,385
Single Family
7,132
Multi-Family
7,253
Businesses
386
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
Single Family
Built in 2024
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36832, Auburn, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,078 (100%) |
| Owner Occupied HU | 5,793 (36.0%) |
| Renter Occupied HU | 8,478 (52.7%) |
| Vacant Housing Units | 1,807 (11.2%) |
| Median Home Value | $295,260 |
| Average Home Value | $326,059 |
Housing Distribution
Address Breakdown
Residential
14,385
Single Family
7,132
Multi-Family
7,253
Businesses
386
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: PAYTON LEE • DURHAM SEARS REAL ESTATE
Mls Name: LCMLS
Mls ID: #170046
Disclaimer: The data relating to real estate for sale on this web-site comes in part from the Internet Data Exchange Program of Lee County Association of REALTORS. Information is deemed reliable but is not guaranteed.