505 Michigan AveMobileAL36604
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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 Mobile at 505 Michigan Ave, Mobile, AL, 36604 generates $1,590/mo in rent and, after a $974/mo payment, leaves $467/mo in cash flow. Total monthly income is $1,590/mo, and annual cash flow is $5,601/yr on $65,969 invested. Return on cash invested sits at 28.4% in year one, and rental yield is 9.59% on a $199,000 entry. Equity gained on principal adds $1,284/yr, while 5% annual appreciation builds toward $54,980 over five years. Five-year ROI reaches 147.68% and total cumulative return in cash sums $97,422. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,590/mo property income rather than buyer’s personal income.
Single Family
Built in 1907
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36604, Mobile, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,225 (100%) |
| Owner Occupied HU | 2,263 (43.3%) |
| Renter Occupied HU | 1,784 (34.1%) |
| Vacant Housing Units | 1,178 (22.5%) |
| Median Home Value | $296,824 |
| Average Home Value | $307,895 |
Housing Distribution
Address Breakdown
Residential
4,408
Single Family
3,770
Multi-Family
638
Businesses
329
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Listed by: Pam Stein • Blue Heron Realty
Mls Name: GCMLS
Mls Provider:
Mls ID: #7651249
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.