506 E Myrtle AveFoleyAL36535
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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 Foley at 506 E Myrtle Ave, Foley, AL, 36535 offers a 10.8% rental yield on a $189,900 purchase with $1,709/mo rent. Total monthly income registers $1,709/mo, and a $929/mo payment leaves $637/mo available for distribution. Annual cash flow reaches $7,645/yr on $62,952 to close, and return on cash invested stands at 32.05% in year one. Equity gained on principal adds $1,225/yr while 5% annual appreciation supports $52,466 over five years. Portfolio math shows five-year ROI at 167.34% and total cumulative return in cash at $105,341. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,709/mo property income against a $929/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1945
8,407 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36535, Foley, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,865 (100%) |
| Owner Occupied HU | 12,586 (60.3%) |
| Renter Occupied HU | 5,135 (24.6%) |
| Vacant Housing Units | 3,144 (15.1%) |
| Median Home Value | $299,550 |
| Average Home Value | $322,808 |
Housing Distribution
Address Breakdown
Residential
18,404
Single Family
17,522
Multi-Family
882
Businesses
1,276
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Listed by: Bill Hinton • Roberts Brothers, Inc Malbis
Mls Name: GCMLS
Mls Provider:
Mls ID: #7565695
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.