103 Grand Oaks LnIndependenceVA24348
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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 Independence at 103 Grand Oaks Ln, Independence, VA, 24348 priced at $239,000 converts $1,689/mo rent into $260/mo cash flow after a $1,170/mo obligation. Total monthly income equals $1,689/mo, and annual cash flow totals $3,121/yr on $79,229 invested. Return on cash invested prints 23.85% in year one, and rental yield reads 8.48% against a $239,000 entry. Equity gained on principal adds $1,542/yr, while 5% annual appreciation compiles into $66,031 by year five. Five-year ROI reaches 123.74% and total cumulative return in cash sums $98,040. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,689/mo property income covering a $1,170/mo payment, not borrower’s personal income.
Single Family
Built in 1978
0.73 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24348, Independence, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,226 (100%) |
| Owner Occupied HU | 1,235 (55.5%) |
| Renter Occupied HU | 393 (17.7%) |
| Vacant Housing Units | 598 (26.9%) |
| Median Home Value | $164,875 |
| Average Home Value | $254,006 |
Housing Distribution
Address Breakdown
Residential
1,807
Single Family
1,807
Multi-Family
0
Businesses
154
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Listed by: Joseph Dixon • Berkshire Hathaway Home Services Mountain Sky Properties-Hillsv
Mls Name: New River Valley AOR
Mls ID: #424788