306 Heatherton DrCovingtonVA24426
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 Covington at 306 Heatherton Dr, Covington, VA, 24426 priced at $310,000 converts $1,958/mo rent into $105/mo cash flow after a $1,517/mo obligation. Total monthly income equals $1,958/mo, and annual cash flow totals $1,262/yr on $102,765 invested. Return on cash invested prints 21.14% in year one, and rental yield reads 7.58% against a $310,000 entry. Equity gained on principal adds $2,000/yr, while 5% annual appreciation compiles into $85,647 by year five. Five-year ROI reaches 109.19% and total cumulative return in cash sums $112,207. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,958/mo property income covering a $1,517/mo payment, not borrower’s personal income.
Single Family
Built in 1984
0.74 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: Janie Curtin Tyree • Mountain River Realty
Mls Name: Rockbridge Highlands REALTORS
Mls Provider:
Mls ID: #139157
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