322 W Summit Ave, Elkton, VA, 22827 | $697/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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322 W Summit Ave, Elkton, VA, 22827 | $697/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Elkton at 322 W Summit Ave, Elkton, VA, 22827 priced at $219,000 converts $2,006/mo rent into $697/mo cash flow after a $1,072/mo obligation. Total monthly income equals $2,006/mo, and annual cash flow totals $8,361/yr on $72,599 invested. Return on cash invested prints 31.43% in year one, and rental yield reads 10.99% against a $219,000 entry. Equity gained on principal adds $1,413/yr, while 5% annual appreciation compiles into $60,506 by year five. Five-year ROI reaches 164.33% and total cumulative return in cash sums $119,301. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,006/mo property income covering a $1,072/mo payment, not borrower’s personal income.

Single Family

Built in 1962

0.29 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to this charming ranch home nestled on a spacious 0.29-acre lot in the Town of Elkton. Step into a cozy living room that is full of natural light from the large windows. The kitchen and dining area are perfect for making snacks and gathering with friends. Three bedrooms and a remodeled bathroom make this a wonderful starter home or for anyone looking to enjoy peaceful town living. The partially finished basement gives you the space for a home office, playroom, or additional storage. With an HVAC system less than 4 years old, you will enjoy year-round comfort. Close to local parks, shopping, and dining options, this is a convenient spot for everyday living. Explore the Shenandoah National Park or relax by The Shenandoah River, both are just minutes away! Schedule your showing today!

Neighborhood Data

Neighborhood data shown for ZIP Code: 22827, Elkton, VA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,110 (100%)
Owner Occupied HU	3,460 (67.7%)
Renter Occupied HU	1,021 (20.0%)
Vacant Housing Units	629 (12.3%)
Median Home Value	$327,435
Average Home Value	$357,118