324 Riverside DrIndependenceVA24348
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 Independence at 324 Riverside Dr, Independence, VA, 24348 offers $2,126/mo rent that, after a $1,248/mo payment, leaves $602/mo cash flow. Total monthly income is $2,126/mo, and annual cash flow is $7,221/yr on $84,533 cash. Return on cash invested measures 28.45% in year one, and rental yield stands at 10% at a $255,000 entry. Equity gained on principal adds $1,645/yr while 5% annual appreciation compounds into $70,452 by year five. Five-year ROI records 148.37% and total cumulative return in cash reaches $125,420. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,126/mo property income versus a $1,248/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1939
0.88 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24348, Independence, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,226 (100%) |
| Owner Occupied HU | 1,235 (55.5%) |
| Renter Occupied HU | 393 (17.7%) |
| Vacant Housing Units | 598 (26.9%) |
| Median Home Value | $164,875 |
| Average Home Value | $254,006 |
Housing Distribution
Address Breakdown
Residential
1,807
Single Family
1,807
Multi-Family
0
Businesses
154
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Nearby investment properties with comparable prices
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