2113 Covey DrWaverlyAL36879
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 2113 Covey Dr, Waverly, AL, 36879 in Waverly hard to pass up. The 10.25% gross yield on a $374,993 purchase results in $3,202/mo in rent and $1,085/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (1.90). Annual cash flow of $13,019, five-year appreciation of $103,604, and $3,454/yr in equity build-up combine for a projected total cumulative return of $211,158.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 7.0% |
| Monthly Cash Flow | $1,085 | $500 |
City averages based on Waverly market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,202 |
| Total Monthly Debt Service | $1,967 |
| DSCR Ratio | 1.63x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 2025
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36879, Waverly, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,487 (100%) |
| Owner Occupied HU | 1,154 (77.6%) |
| Renter Occupied HU | 181 (12.2%) |
| Vacant Housing Units | 152 (10.2%) |
| Median Home Value | $334,633 |
| Average Home Value | $380,295 |
Housing Distribution
Address Breakdown
Residential
1,299
Single Family
1,299
Multi-Family
0
Businesses
33
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
Single Family
Built in 2025
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 36879, Waverly, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,487 (100%) |
| Owner Occupied HU | 1,154 (77.6%) |
| Renter Occupied HU | 181 (12.2%) |
| Vacant Housing Units | 152 (10.2%) |
| Median Home Value | $334,633 |
| Average Home Value | $380,295 |
Housing Distribution
Address Breakdown
Residential
1,299
Single Family
1,299
Multi-Family
0
Businesses
33
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: MICHY AJA • BERKSHIRE HATHAWAY HOMESERVICES
Mls Name: LCMLS
Mls ID: #172325
Disclaimer: The data relating to real estate for sale on this web-site comes in part from the Internet Data Exchange Program of Lee County Association of REALTORS. Information is deemed reliable but is not guaranteed.