1602 Patterson Ave SWRoanokeVA24016
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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 Roanoke at 1602 Patterson Ave SW, Roanoke, VA, 24016 listed at $345,000 pairs $2,513/mo rent with a $1,689/mo payment to leave $450/mo cash flow. Total monthly income runs $2,513/mo, and annual cash flow reaches $5,403/yr on $114,368 cash to close. Return on cash invested measures 24.63% in year one, and rental yield registers 8.74% at a $345,000 basis. Equity gained on principal adds $2,226/yr, and annual property appreciation at 5% supports $95,317 by year five. Five-year ROI tracks 127.93% and total cumulative return in cash totals $146,308. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,513/mo property income relative to a $1,689/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Multi Family
Built in 1920
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24016, Roanoke, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,423 (100%) |
| Owner Occupied HU | 1,159 (21.4%) |
| Renter Occupied HU | 3,460 (63.8%) |
| Vacant Housing Units | 804 (14.8%) |
| Median Home Value | $284,524 |
| Average Home Value | $433,268 |
Housing Distribution
Address Breakdown
Residential
5,017
Single Family
3,783
Multi-Family
1,234
Businesses
685
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