136 Iris Dr, Waynesboro, VA, 22980 | $240/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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136 Iris Dr, Waynesboro, VA, 22980 | $240/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 Waynesboro at 136 Iris Dr, Waynesboro, VA, 22980 priced at $329,999 converts $2,212/mo rent into $240/mo cash flow after a $1,615/mo obligation. Total monthly income equals $2,212/mo, and annual cash flow totals $2,874/yr on $109,395 invested. Return on cash invested prints 22.54% in year one, and rental yield reads 8.04% against a $329,999 entry. Equity gained on principal adds $2,129/yr, while 5% annual appreciation compiles into $91,173 by year five. Five-year ROI reaches 116.66% and total cumulative return in cash sums $127,618. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,212/mo property income covering a $1,615/mo payment, not borrower’s personal income.

Single Family

Built in 1997

9,375 sqft lot

$N/A/sqft

No HOA

More details about the property

Welcome home to this beautifully maintained single-family residence offering comfort, convenience, and space in a manageable layout. Featuring three spacious bedrooms and two full bathrooms, this home provides the ideal setup for young families or those seeking to simplify without sacrificing style or functionality. Step inside to find a bright, open living area that flows effortlessly into a modern kitchen, complete with ample cabinet space, heated tile floor, and room for family meals or entertaining. The private, fenced backyard offers a safe space for children or pets to play, and a perfect setting for weekend barbecues or relaxing evenings outdoors. Located in a quiet, family-friendly neighborhood, this home is close to parks, schools, and shopping, making daily life easy and enjoyable. With its single-level layout, manageable yard, and welcoming atmosphere, this home is an excellent fit for first-time buyers or those looking to downsize into a cozy, low-maintenance lifestyle.

Neighborhood Data

Neighborhood data shown for ZIP Code: 22980, Waynesboro, VA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	15,431 (100%)
Owner Occupied HU	9,698 (62.8%)
Renter Occupied HU	4,765 (30.9%)
Vacant Housing Units	968 ( 6.3%)
Median Home Value	$306,712
Average Home Value	$338,653