3101 Lorna Rd Unit 1824HooverAL35216
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe income profile at 3101 Lorna Rd Unit 1824, Hoover, AL, 35216 in Hoover is straightforward: $112,000 in, $846/mo in rent, $214/mo out after debt service. The 9.06% gross yield and 1.68 DSCR make this exactly the kind of asset Ziffy Mortgage finances for non-U.S. residents without income documentation. Appreciation at 5%/yr adds $30,944 by year five. With $1,032/yr in principal equity, the total cumulative return is projected at $55,942.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 6.5% |
| Monthly Cash Flow | $214 | $300 |
City averages based on Hoover market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $846 |
| Total Monthly Debt Service | $588 |
| DSCR Ratio | 1.44x |
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.
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
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices