217 E Spruce StCovingtonVA24426
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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 Covington at 217 E Spruce St, Covington, VA, 24426 offers a 9.47% rental yield on a $145,000 purchase with $1,144/mo rent. Total monthly income registers $1,144/mo, and a $710/mo payment leaves $277/mo available for distribution. Annual cash flow reaches $3,323/yr on $48,068 to close, and return on cash invested stands at 26.82% in year one. Equity gained on principal adds $936/yr while 5% annual appreciation supports $40,061 over five years. Portfolio math shows five-year ROI at 139.62% and total cumulative return in cash at $67,112. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,144/mo property income against a $710/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1925
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24426, Covington, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,226 (100%) |
| Owner Occupied HU | 4,749 (65.7%) |
| Renter Occupied HU | 1,407 (19.5%) |
| Vacant Housing Units | 1,070 (14.8%) |
| Median Home Value | $121,270 |
| Average Home Value | $161,865 |
Housing Distribution
Address Breakdown
Residential
6,311
Single Family
6,128
Multi-Family
183
Businesses
501
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Listed by: Janie Curtin Tyree • Mountain River Realty
Mls Name: Rockbridge Highlands REALTORS
Mls Provider:
Mls ID: #138915
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