118 Lucas Ln, Elkton, VA, 22827 | $383/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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118 Lucas Ln, Elkton, VA, 22827 | $383/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 Elkton at 118 Lucas Ln, Elkton, VA, 22827 offers $2,290/mo rent that, after a $1,561/mo payment, leaves $383/mo cash flow. Total monthly income is $2,290/mo, and annual cash flow is $4,601/yr on $105,749 cash. Return on cash invested measures 24.26% in year one, and rental yield stands at 8.61% at a $319,000 entry. Equity gained on principal adds $2,058/yr while 5% annual appreciation compounds into $88,134 by year five. Five-year ROI records 125.91% and total cumulative return in cash reaches $133,153. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,290/mo property income versus a $1,561/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.

Single Family

Built in 1979

0.30 Acres lot

$N/A/sqft

No HOA

More details about the property

Step inside to freshly painted interiors (2023), where every room feels bright and inviting. The kitchen, remodeled in 2024, boasts quartz countertops, a new quartz sink, stainless steel appliances, and updated cabinets with sleek hardware. The backyard features a newly expanded, re-stained deck (2023) and new hardscaping/landscaping (2023) that create the perfect space for outdoor living. Inside, all doors and hardware were replaced (2022), and the home now has modern light fixtures (2022). The extra finished space in the basement has many features with a huge walk in shower with seating and a bonus room that can be used for exercise or an office; this owner has used it as an extra efficiency for income since it has an exterior entrance for guests. The shared laundry and extra storage complete the basement. The roof, updated within the last five years, ensures peace of mind, making this home a perfect choice for new owners who will appreciate the meticulous care and thoughtful upgrades throughout on a dead end street in the town of Elkton.

Neighborhood Data

Neighborhood data shown for ZIP Code: 22827, Elkton, VA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,110 (100%)
Owner Occupied HU	3,460 (67.7%)
Renter Occupied HU	1,021 (20.0%)
Vacant Housing Units	629 (12.3%)
Median Home Value	$327,435
Average Home Value	$357,118