209 Simpson Ave APT 302LexingtonKY40504
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.37% yield at 209 Simpson Ave APT 302, Lexington, KY, 40504 in Lexington is solid, but the $1,255/mo payment compresses net cash flow to $128/mo at $279,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $77,083 by year five, and $2,570/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.15) without U.S. income documentation. Total projected return: $82,448.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.4% | 5.2% |
| Monthly Cash Flow | $128 | $385 |
City averages based on Lexington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,449 |
| Total Monthly Debt Service | $1,707 |
| DSCR Ratio | 0.85x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1995
N/A lot
$N/A/sqft
$120 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40504, Lexington, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,639 (100%) |
| Owner Occupied HU | 4,439 (35.1%) |
| Renter Occupied HU | 7,082 (56.0%) |
| Vacant Housing Units | 1,118 ( 8.8%) |
| Median Home Value | $243,671 |
| Average Home Value | $307,685 |
Housing Distribution
Address Breakdown
Residential
12,467
Single Family
9,235
Multi-Family
3,232
Businesses
858
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
Condo
Built in 1995
N/A lot
$N/A/sqft
$120 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40504, Lexington, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,639 (100%) |
| Owner Occupied HU | 4,439 (35.1%) |
| Renter Occupied HU | 7,082 (56.0%) |
| Vacant Housing Units | 1,118 ( 8.8%) |
| Median Home Value | $243,671 |
| Average Home Value | $307,685 |
Housing Distribution
Address Breakdown
Residential
12,467
Single Family
9,235
Multi-Family
3,232
Businesses
858
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Diana C Brooker • Lifstyl Real Estate
Mls Name: Imagine MLS
Mls Provider:
Mls ID: #25007805
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