1505 Devault StMorristownTN37814
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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 Morristown at 1505 Devault St, Morristown, TN, 37814 uses $66,267 cash to close to unlock $3,657/yr annual cash flow and $305/mo monthly cash flow. Total monthly income runs $1,501/mo, and a $978/mo payment keeps the spread at $305/mo. Purchase price stands at $199,900, and rental yield measures 9.01% with $1,501/mo rent. Return on cash invested shows 25.43% in year one, and 5% annual appreciation builds toward $55,229 over five years. Five-year ROI reaches 132.18% and total cumulative return in cash records $87,589. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,501/mo property income covering a $978/mo payment rather than investor’s personal income.
Single Family
Built in 1954
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 37814, Morristown, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,714 (100%) |
| Owner Occupied HU | 9,232 (62.7%) |
| Renter Occupied HU | 4,347 (29.5%) |
| Vacant Housing Units | 1,135 ( 7.7%) |
| Median Home Value | $259,404 |
| Average Home Value | $297,696 |
Housing Distribution
Address Breakdown
Residential
14,684
Single Family
14,205
Multi-Family
479
Businesses
1,032
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Listed by: Frances Vineyard • Southern Homes & Farms, LLC
Mls Name: East Tennessee Realtors
Mls ID: #1311334