6020 Cherry Ridge CtMobileAL36609
INVESTMENT ANALYSIS
Investment Verdict
Solid Income6020 Cherry Ridge Ct, Mobile, AL, 36609 in Mobile earns a respectable 8.04% gross yield at $309,900, but after the $1,394/mo mortgage the net cash flow is $143/mo, a tight but positive spread. Expense discipline (vacancy, management, maintenance) will determine whether the margin widens. Ziffy Mortgage's DSCR mortgage (1.44) still qualifies on property income; a larger down payment can improve the cash-flow buffer. Long-term, 5% appreciation projects $85,620 over five years, making equity the dominant return driver. Total projected return: $122,511.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 6.8% |
| Monthly Cash Flow | $143 | $450 |
City averages based on Mobile market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,011 |
| Total Monthly Debt Service | $1,811 |
| DSCR Ratio | 1.11x |
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.
Single Family
Built in 1980
0.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36609, Mobile, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,706 (100%) |
| Owner Occupied HU | 4,936 (38.8%) |
| Renter Occupied HU | 6,721 (52.9%) |
| Vacant Housing Units | 1,049 ( 8.3%) |
| Median Home Value | $228,794 |
| Average Home Value | $248,917 |
Housing Distribution
Address Breakdown
Residential
11,492
Single Family
6,555
Multi-Family
4,937
Businesses
1,002
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
Single Family
Built in 1980
0.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36609, Mobile, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,706 (100%) |
| Owner Occupied HU | 4,936 (38.8%) |
| Renter Occupied HU | 6,721 (52.9%) |
| Vacant Housing Units | 1,049 ( 8.3%) |
| Median Home Value | $228,794 |
| Average Home Value | $248,917 |
Housing Distribution
Address Breakdown
Residential
11,492
Single Family
6,555
Multi-Family
4,937
Businesses
1,002
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Angelique Dodaro • Azalea Associates PC
Mls Name: GCMLS
Mls Provider:
Mls ID: #7565271
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.