106 Monroe St, Locust Grove, VA, 22508 | $728/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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106 Monroe St, Locust Grove, VA, 22508 | $728/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Locust Grove at 106 Monroe St, Locust Grove, VA, 22508 generates $2,432/mo in rent and, after a $1,395/mo payment, leaves $728/mo in cash flow. Total monthly income is $2,432/mo, and annual cash flow is $8,739/yr on $94,478 invested. Return on cash invested sits at 29.16% in year one, and rental yield is 10.24% on a $285,000 entry. Equity gained on principal adds $1,839/yr, while 5% annual appreciation builds toward $78,740 over five years. Five-year ROI reaches 152.2% and total cumulative return in cash sums $143,790. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,432/mo property income rather than buyer’s personal income.

Single Family

Built in 1971

0.37 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to this charming 3-bedroom, 1-bath move-in ready rancher located in the highly desirable, amenity-rich Lake of the Woods community. Tucked away on a quiet and peaceful lot, this home is an ideal opportunity for first-time buyers or anyone seeking an affordable, low-maintenance retreat with resort-style amenities. Inside, youll find a bright, refreshed interior featuring new carpet and new paint in one of the bedrooms, laminate flooring throughout the main living areas, and a cozy living room accented by a brick fireplace. The kitchen offers ample cabinet space along with kitchen appliances that are only about a year oldincluding the stove, dishwasher, and refrigeratorand provides easy access to the outdoor deck for grilling or relaxing. This home has also received extensive updates and care. The HVAC system has been professionally cleaned, the entire crawlspace has been completely redone with mold preventative treatment, a new moisture barrier, and all-new insulation. Exterior improvements include a repainted back porch, fixed deck boards, and removal of the old, deteriorating shed. Additionally, the small bridge over the creek has been replaced, giving the outdoor space a clean, well-maintained, and functional feel. Residents of Lake of the Woods enjoy an impressive list of amenities, including lakes, beaches, a golf course, clubhouse, pools, walking trails, playgrounds, sports courts, security, and moreall just moments from your front door. With public water, community sewer, electric HVAC, and Comcast internet, this home offers convenience paired with comfort. If you're looking for an affordable, turnkey home in a gated community that truly has it all, you wont want to miss this one!

Neighborhood Data

Neighborhood data shown for ZIP Code: 22508, Locust Grove, VA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	7,142 (100%)
Owner Occupied HU	5,888 (82.4%)
Renter Occupied HU	610 ( 8.5%)
Vacant Housing Units	644 ( 9.0%)
Median Home Value	$386,789
Average Home Value	$456,107