3351 Forest Ridge RdRoanokeVA24018
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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 Roanoke at 3351 Forest Ridge Rd, Roanoke, VA, 24018 generates $1,724/mo in rent and, after a $876/mo payment, leaves $654/mo in cash flow. Total monthly income is $1,724/mo, and annual cash flow is $7,849/yr on $59,339 invested. Return on cash invested sits at 33.14% in year one, and rental yield is 11.56% on a $179,000 entry. Equity gained on principal adds $1,155/yr, while 5% annual appreciation builds toward $49,454 over five years. Five-year ROI reaches 173.56% and total cumulative return in cash sums $102,987. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,724/mo property income rather than buyer’s personal income.
Condo
Built in 1985
1 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24018, Roanoke, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,125 (100%) |
| Owner Occupied HU | 12,406 (68.4%) |
| Renter Occupied HU | 4,608 (25.4%) |
| Vacant Housing Units | 1,111 ( 6.1%) |
| Median Home Value | $361,586 |
| Average Home Value | $429,725 |
Housing Distribution
Address Breakdown
Residential
17,942
Single Family
14,495
Multi-Family
3,447
Businesses
1,677
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