1348 Salem RdSpout SpringVA24593
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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 Spout Spring at 1348 Salem Rd, Spout Spring, VA, 24593 generates $2,833/mo in rent, after a $2,594/mo payment. Total monthly income is $2,833/mo. Return on cash invested sits at 17.75% in year one, and rental yield is 6.42% on a $529,900 entry. Equity gained on principal adds $3,419/yr, while 5% annual appreciation builds toward $146,402 over five years. Five-year ROI reaches 90.97% and total cumulative return in cash sums $158,591. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,833/mo property income rather than buyer’s personal income.
Single Family
Built in 1993
4 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24593, Spout Spring, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,050 (100%) |
| Owner Occupied HU | 812 (77.3%) |
| Renter Occupied HU | 130 (12.4%) |
| Vacant Housing Units | 108 (10.3%) |
| Median Home Value | $257,396 |
| Average Home Value | $326,321 |
Housing Distribution
Address Breakdown
Residential
874
Single Family
874
Multi-Family
0
Businesses
30
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Listed by: Rikki Cheatham • Elite Realty
Mls Name: LMLS
Mls ID: #360445