1416 McAllister DrCovingtonVA24426
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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 Covington at 1416 McAllister Dr, Covington, VA, 24426 uses $49,394 cash to close to unlock $3,487/yr annual cash flow and $291/mo monthly cash flow. Total monthly income runs $1,181/mo, and a $729/mo payment keeps the spread at $291/mo. Purchase price stands at $149,000, and rental yield measures 9.51% with $1,181/mo rent. Return on cash invested shows 26.97% in year one, and 5% annual appreciation builds toward $41,166 over five years. Five-year ROI reaches 140.43% and total cumulative return in cash records $69,364. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,181/mo property income covering a $729/mo payment rather than investor’s personal income.
Single Family
Built in 1967
0.32 Acres 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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Listed by: Kelly Campbell • Lytle Realty LLC
Mls Name: Rockbridge Highlands REALTORS
Mls Provider:
Mls ID: #138802
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Rockbridge Highland Realtors. The information being provided is for consumers 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 Deemed Reliable But Not Guaranteed. Copyright 2024 Rockbridge Highland Realtors. All rights reserved.