2 Erwin StMartinsvilleVA24112
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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 Martinsville at 2 Erwin St, Martinsville, VA, 24112 listed at $129,000 pairs $1,284/mo rent with a $631/mo payment to leave $513/mo cash flow. Total monthly income runs $1,284/mo, and annual cash flow reaches $6,159/yr on $42,764 cash to close. Return on cash invested measures 34.31% in year one, and rental yield registers 11.94% at a $129,000 basis. Equity gained on principal adds $832/yr, and annual property appreciation at 5% supports $35,640 by year five. Five-year ROI tracks 179.87% and total cumulative return in cash totals $76,921. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,284/mo property income relative to a $631/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1959
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24112, Martinsville, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,884 (100%) |
| Owner Occupied HU | 9,113 (57.4%) |
| Renter Occupied HU | 4,550 (28.6%) |
| Vacant Housing Units | 2,221 (14.0%) |
| Median Home Value | $134,764 |
| Average Home Value | $177,063 |
Housing Distribution
Address Breakdown
Residential
14,304
Single Family
13,486
Multi-Family
818
Businesses
1,041
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Listed by: Natalie Gongloff • Piedmont Realty
Mls Name: MVMLS
Mls ID: #144894
Disclaimer: Copyright Martinsville, Henry & Patrick County Association of REALTORS. All rights reserved. Information is deemed reliable but not guaranteed.