132 Covington WayRichmondKY40475
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
Investment Highlights
Rental property for sale in Richmond at 132 Covington Way, Richmond, KY, 40475 priced at $295,000 converts $3,050/mo rent into $1,254/mo cash flow after a $1,444/mo obligation. Total monthly income equals $3,050/mo, and annual cash flow totals $15,054/yr on $97,793 invested. Return on cash invested prints 35.3% in year one, and rental yield reads 12.41% against a $295,000 entry. Equity gained on principal adds $1,904/yr, while 5% annual appreciation compiles into $81,503 by year five. Five-year ROI reaches 185.28% and total cumulative return in cash sums $181,190. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,050/mo property income covering a $1,444/mo payment, not borrower’s personal income.
Single Family
Built in 2005
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40475, Richmond, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,247 (100%) |
| Owner Occupied HU | 15,772 (53.9%) |
| Renter Occupied HU | 11,180 (38.2%) |
| Vacant Housing Units | 2,295 ( 7.8%) |
| Median Home Value | $284,131 |
| Average Home Value | $320,088 |
Housing Distribution
Address Breakdown
Residential
28,136
Single Family
26,632
Multi-Family
1,504
Businesses
1,528
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tina Neal • RE/MAX Elite Realty
Mls Name: Imagine MLS
Mls Provider:
Mls ID: #24024997
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.