2156 Covey DrWaverlyAL36879
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid, durable, and financeable, 2156 Covey Dr, Waverly, AL, 36879 in Waverly earns a 9.62% gross yield at $429,993. Rent of $3,446/mo nets $1,019/mo after the $1,934/mo mortgage. The 1.78 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $118,799 and $3,960/yr in equity accumulation project a total cumulative return of $227,586.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 7.0% |
| Monthly Cash Flow | $1,019 | $500 |
City averages based on Waverly market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,446 |
| Total Monthly Debt Service | $2,256 |
| DSCR Ratio | 1.53x |
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 2024
7,840 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 2024
7,840 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: #170205
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.