3116 Lancaster Ct APT BHomewoodAL35209
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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 Homewood at 3116 Lancaster Ct APT B, Homewood, AL, 35209 listed at $175,000 pairs $1,365/mo rent with a $857/mo payment to leave $377/mo cash flow. Total monthly income runs $1,365/mo, and annual cash flow reaches $4,521/yr on $58,013 cash to close. Return on cash invested measures 27.7% in year one, and rental yield registers 9.36% at a $175,000 basis. Equity gained on principal adds $1,129/yr, and annual property appreciation at 5% supports $48,349 by year five. Five-year ROI tracks 143.92% and total cumulative return in cash totals $83,491. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,365/mo property income relative to a $857/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1968
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 35209, Birmingham, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,204 (100%) |
| Owner Occupied HU | 5,576 (39.3%) |
| Renter Occupied HU | 6,610 (46.5%) |
| Vacant Housing Units | 2,018 (14.2%) |
| Median Home Value | $487,776 |
| Average Home Value | $591,314 |
Housing Distribution
Address Breakdown
Residential
13,671
Single Family
10,594
Multi-Family
3,077
Businesses
2,312
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Listed by: Erin Howell • EXIT Realty Cahaba
Mls Name: GALMLS
Mls Provider:
Mls ID: #21413248
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.