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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Elgin at 198 Old Lexington Rd, Elgin, TX, 78621 offers $2,174/mo rent that, after a $2,692/mo payment. Total monthly income is $2,174/mo. Return on cash invested measures 8.54% in year one, and rental yield stands at 4.74% at a $550,000 entry. Equity gained on principal adds $3,549/yr while 5% annual appreciation compounds into $151,955 by year five. Five-year ROI records 43.06% and total cumulative return in cash reaches $77,914. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,174/mo property income versus a $2,692/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1983
11.09 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 78621, Elgin, TX area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,834 (100%) |
| Owner Occupied HU | 9,052 (76.5%) |
| Renter Occupied HU | 2,160 (18.3%) |
| Vacant Housing Units | 622 ( 5.3%) |
| Median Home Value | $357,342 |
| Average Home Value | $417,153 |
Residential
11,094
Single Family
10,748
Multi-Family
346
Businesses
658
Date | Event | Price |
|---|---|---|
| 2024-12-07 | Listed for sale | $550,000 |
| 2024-07-19 | Listing removed | N/A |
| 2024-07-01 | Listed for sale | $575,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-02-13 | $5104.76 | 8.91% | $279,337 | 8.34% |
| 2023-02-13 | $4687.17 | -1.38% | $257,844 | 9.12% |
| 2022-02-13 | $4752.78 | 25.57% | $236,292 | 34.37% |
Listed by: Jeanette Shelby • Jeanette Shelby, Realtors
Mls Name: Unlock MLS
Mls Provider:
Mls ID: #1194222
Disclaimer: Based on information from Unlock MLS (alternatively, from ACTRIS) for the period through 2025-02-13 10:24:37 PST. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided AS IS and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market. 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. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_27)
