3087 Leatherman DrLake CormorantMS38641
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 Lake Cormorant at 3087 Leatherman Dr, Lake Cormorant, MS, 38641 priced at $309,950 converts $2,656/mo rent into $759/mo cash flow after a $1,517/mo obligation. Total monthly income equals $2,656/mo, and annual cash flow totals $9,112/yr on $102,748 invested. Return on cash invested prints 28.78% in year one, and rental yield reads 10.28% against a $309,950 entry. Equity gained on principal adds $2,000/yr, while 5% annual appreciation compiles into $85,633 by year five. Five-year ROI reaches 150.34% and total cumulative return in cash sums $154,468. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,656/mo property income covering a $1,517/mo payment, not borrower’s personal income.
Single Family
Built in 2024
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38641, Lake Cormorant, MS area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 923 (100%) |
| Owner Occupied HU | 729 (79.0%) |
| Renter Occupied HU | 107 (11.6%) |
| Vacant Housing Units | 87 ( 9.4%) |
| Median Home Value | $326,591 |
| Average Home Value | $311,461 |
Housing Distribution
Address Breakdown
Residential
935
Single Family
935
Multi-Family
0
Businesses
29
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Rosamond Bailey • Brannon Realty
Mls Name: MLS United
Mls ID: #4081814
Disclaimer: Information is deemed to be reliable but not guaranteed. Copyright 2024 MLS United, LLC.