247 N Norma StRidgecrestCA93555
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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 Ridgecrest at 247 N Norma St, Ridgecrest, CA, 93555 priced at $240,000 converts $1,843/mo rent into $253/mo cash flow after a $1,175/mo obligation. Total monthly income equals $1,843/mo, and annual cash flow totals $3,041/yr on $79,560 invested. Return on cash invested prints 23.73% in year one, and rental yield reads 9.21% against a $240,000 entry. Equity gained on principal adds $1,549/yr, while 5% annual appreciation compiles into $66,308 by year five. Five-year ROI reaches 123.94% and total cumulative return in cash sums $98,606. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,843/mo property income covering a $1,175/mo payment, not borrower’s personal income.
Single Family
Built in 1960
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93555, Ridgecrest, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,123 (100%) |
| Owner Occupied HU | 8,784 (58.1%) |
| Renter Occupied HU | 4,725 (31.2%) |
| Vacant Housing Units | 1,614 (10.7%) |
| Median Home Value | $325,192 |
| Average Home Value | $365,095 |
Housing Distribution
Address Breakdown
Residential
13,933
Single Family
13,546
Multi-Family
387
Businesses
756
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Listed by: Zachary A. Moore • Coldwell Banker Frontier
Mls Name: RAOR
Mls Provider:
Mls ID: #2606314
Disclaimer: Copyright Ridgecrest Area Association of Realtors. All rights reserved. Information is deemed reliable but not guaranteed.