242 N Broad StLexingtonTN38351
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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
Rental property for sale in Lexington at 242 N Broad St, Lexington, TN, 38351 generates $1,561/mo in rent, after a $1,321/mo payment. Total monthly income is $1,561/mo. Return on cash invested sits at 19.18% in year one, and rental yield is 6.94% on a $269,900 entry. Equity gained on principal adds $1,742/yr, while 5% annual appreciation builds toward $74,568 over five years. Five-year ROI reaches 98.68% and total cumulative return in cash sums $88,290. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,561/mo property income rather than buyer’s personal income.
Single Family
Built in 1946
0.67 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38351, Lexington, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,459 (100%) |
| Owner Occupied HU | 5,245 (62.0%) |
| Renter Occupied HU | 2,349 (27.8%) |
| Vacant Housing Units | 865 (10.2%) |
| Median Home Value | $185,227 |
| Average Home Value | $229,947 |
Housing Distribution
Address Breakdown
Residential
8,093
Single Family
7,953
Multi-Family
140
Businesses
777
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