321 Richmond AveLexingtonKY40502
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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 Lexington at 321 Richmond Ave, Lexington, KY, 40502 generates $1,759/mo in rent, after a $1,566/mo payment. Total monthly income is $1,759/mo. Return on cash invested sits at 17.78% in year one, and rental yield is 6.6% on a $319,900 entry. Equity gained on principal adds $2,064/yr, while 5% annual appreciation builds toward $88,382 over five years. Five-year ROI reaches 91.28% and total cumulative return in cash sums $96,800. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,759/mo property income rather than buyer’s personal income.
Single Family
Built in 1927
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40502, Lexington, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,855 (100%) |
| Owner Occupied HU | 7,233 (52.2%) |
| Renter Occupied HU | 5,353 (38.6%) |
| Vacant Housing Units | 1,269 ( 9.2%) |
| Median Home Value | $506,048 |
| Average Home Value | $586,370 |
Housing Distribution
Address Breakdown
Residential
13,244
Single Family
10,478
Multi-Family
2,766
Businesses
624
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