3008 Valley Ridge RdCovingtonVA24426
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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 Covington at 3008 Valley Ridge Rd, Covington, VA, 24426 generates $1,403/mo in rent, after a $1,223/mo payment. Total monthly income is $1,403/mo. Return on cash invested sits at 18.59% in year one, and rental yield is 6.74% on a $249,900 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 95.56% and total cumulative return in cash sums $79,166. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,403/mo property income rather than buyer’s personal income.
Single Family
Built in 1960
0.40 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: Kelly Campbell • Lytle Realty LLC
Mls Name: Rockbridge Highlands REALTORS
Mls Provider:
Mls ID: #139559
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Rockbridge Highland Realtors. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Copyright 2025 Rockbridge Highland Realtors. All rights reserved.