1111 Ocean Wave DriveLake CityCO81235
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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 Lake City at 1111 Ocean Wave Drive, Lake City, CO, 81235 priced at $550,000 converts $2,548/mo rent into after a $2,692/mo obligation. Total monthly income equals $2,548/mo. Return on cash invested prints 15.7% in year one, and rental yield reads 5.56% against a $550,000 entry. Equity gained on principal adds $3,549/yr, while 5% annual appreciation compiles into $151,955 by year five. Five-year ROI reaches 79.76% and total cumulative return in cash sums $144,334. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,548/mo property income covering a $2,692/mo payment, not borrower’s personal income.
Single Family
Built in 1996
0.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 81235, Lake City, CO area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 994 (100%) |
| Owner Occupied HU | 259 (26.1%) |
| Renter Occupied HU | 91 ( 9.2%) |
| Vacant Housing Units | 644 (64.8%) |
| Median Home Value | $494,262 |
| Average Home Value | $627,529 |
Housing Distribution
Address Breakdown
Residential
39
Single Family
39
Multi-Family
0
Businesses
88
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Listed by: A. Danielle Worthen • Hall Realty, Inc.
Mls Name: CREN
Mls Provider:
Mls ID: #823123
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.