1409 Covington CtLake WalesFL33853
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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
Investment property for sale in Lake Wales at 1409 Covington Ct, Lake Wales, FL, 33853 listed at $275,000 pairs $2,025/mo rent with a $1,346/mo payment to leave $200/mo cash flow. Total monthly income runs $2,025/mo, and annual cash flow reaches $2,400/yr on $91,163 cash to close. Return on cash invested measures 22.54% in year one, and rental yield registers 8.84% at a $275,000 basis. Equity gained on principal adds $1,775/yr, and annual property appreciation at 5% supports $75,977 by year five. Five-year ROI tracks 117.6% and total cumulative return in cash totals $107,207. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,025/mo property income relative to a $1,346/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1989
10,075 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33853, Lake Wales, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,290 (100%) |
| Owner Occupied HU | 2,614 (49.4%) |
| Renter Occupied HU | 2,091 (39.5%) |
| Vacant Housing Units | 585 (11.1%) |
| Median Home Value | $262,414 |
| Average Home Value | $297,182 |
Housing Distribution
Address Breakdown
Residential
4,964
Single Family
4,540
Multi-Family
424
Businesses
582
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Listed by: Mari Beth Rainwater • COASTAL PROPERTIES GROUP INTERNATIONAL
Mls Name: Stellar MLS
Mls ID: #TB8417144