238 Hope Ridge DrNew HopeAL35760
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
Investment Highlights
Rental property for sale in New Hope at 238 Hope Ridge Dr, New Hope, AL, 35760 priced at $373,540 pairs $2,698/mo rent with $578/mo cash flow after a $1,828/mo payment. Total monthly income equals $2,698/mo, and annual cash flow comes to $6,938/yr on $123,829 invested. Return on cash invested is 25.51% in year one, and rental yield stands at 8.67% on a $373,540 basis. Equity gained on principal adds $2,410/yr, and 5% annual appreciation accumulates to $103,202 by year five. Five-year ROI measures 132.23% and total cumulative return in cash reaches $163,740. For financing, Ziffy Mortgage’s DSCR program evaluates $2,698/mo property income against a $1,828/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2024
0.34 Acres lot
$N/A/sqft
$140 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 35760, New Hope, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,374 (100%) |
| Owner Occupied HU | 1,678 (70.7%) |
| Renter Occupied HU | 522 (22.0%) |
| Vacant Housing Units | 174 ( 7.3%) |
| Median Home Value | $307,667 |
| Average Home Value | $420,265 |
Housing Distribution
Address Breakdown
Residential
2,194
Single Family
2,194
Multi-Family
0
Businesses
103
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Listed by: Jill Heffernan • Keller Williams Realty Madison
Mls Name: ValleyMLS
Mls Provider:
Mls ID: #21867321
Disclaimer: Properties marked with this icon are provided courtesy of the Valley MLS IDX Database. Some or all of the listings displayed may not belong to the firm whose website is being visited. All information provided is deemed reliable but is not guaranteed and should be independently verified. Copyright 2024 Valley MLS