3101 Lorna Rd UNIT 1718HooverAL35216
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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
Rental property for sale in Hoover at 3101 Lorna Rd UNIT 1718, Hoover, AL, 35216 generates $1,073/mo in rent and, after a $563/mo payment, leaves $424/mo in cash flow. Total monthly income is $1,073/mo, and annual cash flow is $5,085/yr on $38,123 invested. Return on cash invested sits at 33.25% in year one, and rental yield is 11.2% on a $115,000 entry. Equity gained on principal adds $742/yr, while 5% annual appreciation builds toward $31,772 over five years. Five-year ROI reaches 173.69% and total cumulative return in cash sums $66,213. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,073/mo property income rather than buyer’s 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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