602 Erie StBirminghamAL35224
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
Investment Highlights
Investment property for sale in Birmingham at 602 Erie St, Birmingham, AL, 35224 uses $38,123 cash to close to unlock $8,829/yr annual cash flow and $736/mo monthly cash flow. Total monthly income runs $1,385/mo, and a $563/mo payment keeps the spread at $736/mo. Purchase price stands at $115,000, and rental yield measures 14.45% with $1,385/mo rent. Return on cash invested shows 43.07% in year one, and 5% annual appreciation builds toward $31,772 over five years. Five-year ROI reaches 226.35% and total cumulative return in cash records $86,289. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,385/mo property income covering a $563/mo payment rather than investor’s personal income.
Single Family
Built in 1952
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 35224, Birmingham, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,610 (100%) |
| Owner Occupied HU | 1,324 (50.7%) |
| Renter Occupied HU | 782 (30.0%) |
| Vacant Housing Units | 504 (19.3%) |
| Median Home Value | $86,250 |
| Average Home Value | $135,366 |
Housing Distribution
Address Breakdown
Residential
2,317
Single Family
2,317
Multi-Family
0
Businesses
108
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Daphne Curtis • REALTYSOUTH-TUSCALOOSA
Mls Name: WAMLS
Mls Provider:
Mls ID: #164789
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.