3101 Lorna Rd UNIT 1615HooverAL35216
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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 Hoover at 3101 Lorna Rd UNIT 1615, Hoover, AL, 35216 earns $490/mo cash flow from $1,178/mo rent with a $597/mo payment. Total monthly income totals $1,178/mo, and annual cash flow totals $5,874/yr on $40,443 capital. ROI tracks 34.43% on current figures, and rental yield reads 11.59% at a $122,000 purchase. Equity gained on principal adds $787/yr, and 5% annual appreciation supports $33,706 over five years. Five-year ROI reaches 180.07% and total cumulative return in cash sums $72,827. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,178/mo property income instead of your personal income.
Condo
Built in 1969
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 35216, Birmingham, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,677 (100%) |
| Owner Occupied HU | 8,293 (46.9%) |
| Renter Occupied HU | 7,807 (44.2%) |
| Vacant Housing Units | 1,577 ( 8.9%) |
| Median Home Value | $397,800 |
| Average Home Value | $488,346 |
Housing Distribution
Address Breakdown
Residential
16,676
Single Family
10,881
Multi-Family
5,795
Businesses
1,467
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