203 Penny LnIndependenceVA24348
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Rental property for sale in Independence at 203 Penny Ln, Independence, VA, 24348 generates $1,549/mo in rent and, after a $929/mo payment, leaves $414/mo in cash flow. Total monthly income is $1,549/mo, and annual cash flow is $4,971/yr on $62,952 invested. Return on cash invested sits at 27.81% in year one, and rental yield is 9.79% on a $189,900 entry. Equity gained on principal adds $1,225/yr, while 5% annual appreciation builds toward $52,466 over five years. Five-year ROI reaches 144.96% and total cumulative return in cash sums $91,253. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,549/mo property income rather than buyer’s personal income.
Single Family
Built in 1966
1.20 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24348, Independence, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,226 (100%) |
| Owner Occupied HU | 1,235 (55.5%) |
| Renter Occupied HU | 393 (17.7%) |
| Vacant Housing Units | 598 (26.9%) |
| Median Home Value | $164,875 |
| Average Home Value | $254,006 |
Housing Distribution
Address Breakdown
Residential
1,807
Single Family
1,807
Multi-Family
0
Businesses
154
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Alex Lineberry • Alex Lineberry Team of Keller Williams Roanoke
Mls Name: SWVAR
Mls Provider:
Mls ID: #99355
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.