1559 Colony Park Dr #37Johnson CityTN37604
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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 Johnson City at 1559 Colony Park Dr #37, Johnson City, TN, 37604 offers a 8.52% rental yield on a $215,000 purchase with $1,527/mo rent. Total monthly income registers $1,527/mo, and a $1,052/mo payment leaves $240/mo available for distribution. Annual cash flow reaches $2,883/yr on $71,273 to close, and return on cash invested stands at 23.95% in year one. Equity gained on principal adds $1,387/yr while 5% annual appreciation supports $59,401 over five years. Portfolio math shows five-year ROI at 124.31% and total cumulative return in cash at $88,597. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,527/mo property income against a $1,052/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1977
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 37604, Johnson City, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,825 (100%) |
| Owner Occupied HU | 9,345 (47.1%) |
| Renter Occupied HU | 8,864 (44.7%) |
| Vacant Housing Units | 1,616 ( 8.2%) |
| Median Home Value | $275,464 |
| Average Home Value | $313,478 |
Housing Distribution
Address Breakdown
Residential
18,525
Single Family
17,738
Multi-Family
787
Businesses
1,598
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Listed by: Kayla Janeway • Berkshire Hathaway Greg Cox Real Estate
Mls Name: TVRMLS
Mls ID: #9989889