2323 College StSpencerTN38585
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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 Spencer at 2323 College St, Spencer, TN, 38585 offers a 9.53% rental yield on a $189,000 purchase with $1,501/mo rent. Total monthly income registers $1,501/mo, and a $925/mo payment leaves $370/mo available for distribution. Annual cash flow reaches $4,436/yr on $62,654 to close, and return on cash invested stands at 26.99% in year one. Equity gained on principal adds $1,220/yr while 5% annual appreciation supports $52,217 over five years. Portfolio math shows five-year ROI at 140.56% and total cumulative return in cash at $88,066. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,501/mo property income against a $925/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
11 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38585, Spencer, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,023 (100%) |
| Owner Occupied HU | 1,494 (73.9%) |
| Renter Occupied HU | 287 (14.2%) |
| Vacant Housing Units | 242 (12.0%) |
| Median Home Value | $182,258 |
| Average Home Value | $255,137 |
Housing Distribution
Address Breakdown
Residential
2,008
Single Family
1,983
Multi-Family
25
Businesses
136
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