1408 S Midland Heights PlCovingtonVA24426
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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 Covington at 1408 S Midland Heights Pl, Covington, VA, 24426 generates $1,155/mo in rent and, after a $734/mo payment, leaves $259/mo in cash flow. Total monthly income is $1,155/mo, and annual cash flow is $3,103/yr on $49,692 invested. Return on cash invested sits at 26.15% in year one, and rental yield is 9.25% on a $149,900 entry. Equity gained on principal adds $967/yr, while 5% annual appreciation builds toward $41,415 over five years. Five-year ROI reaches 136.08% and total cumulative return in cash sums $67,619. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,155/mo property income rather than buyer’s personal income.
Single Family
Built in 1930
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24426, Covington, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,226 (100%) |
| Owner Occupied HU | 4,749 (65.7%) |
| Renter Occupied HU | 1,407 (19.5%) |
| Vacant Housing Units | 1,070 (14.8%) |
| Median Home Value | $121,270 |
| Average Home Value | $161,865 |
Housing Distribution
Address Breakdown
Residential
6,311
Single Family
6,128
Multi-Family
183
Businesses
501
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