308 Old Mill RdOceanaWV24870
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 Oceana at 308 Old Mill Rd, Oceana, WV, 24870 priced at $145,000 converts $968/mo rent into $129/mo cash flow after a $710/mo obligation. Total monthly income equals $968/mo, and annual cash flow totals $1,545/yr on $48,068 invested. Return on cash invested prints 23.12% in year one, and rental yield reads 8.01% against a $145,000 entry. Equity gained on principal adds $936/yr, while 5% annual appreciation compiles into $40,061 by year five. Five-year ROI reaches 119.57% and total cumulative return in cash sums $57,476. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $968/mo property income covering a $710/mo payment, not borrower’s personal income.
Manufactured
Built in 1975
2.05 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24870, Oceana, WV area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,504 (100%) |
| Owner Occupied HU | 1,065 (70.8%) |
| Renter Occupied HU | 233 (15.5%) |
| Vacant Housing Units | 206 (13.7%) |
| Median Home Value | $84,489 |
| Average Home Value | $99,059 |
Housing Distribution
Address Breakdown
Residential
210
Single Family
170
Multi-Family
40
Businesses
99
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Josh Stewart • RazBerry & Associates Real Estate Company, Inc.
Mls Name: Beckley BOR
Mls Provider:
Mls ID: #90643
Disclaimer: IDX information is provided exclusively for 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 is deemed reliable but not guaranteed.