340 Ovada AveLexingtonNC27295
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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 340 Ovada Ave, Lexington, NC, 27295 offers $2,434/mo rent that, after a $1,615/mo payment, leaves $423/mo cash flow. Total monthly income is $2,434/mo, and annual cash flow is $5,076/yr on $109,395 cash. Return on cash invested measures 24.55% in year one, and rental yield stands at 8.85% at a $330,000 entry. Equity gained on principal adds $2,129/yr while 5% annual appreciation compounds into $91,173 by year five. Five-year ROI records 127.58% and total cumulative return in cash reaches $139,571. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,434/mo property income versus a $1,615/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2022
0.21 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27295, Lexington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,330 (100%) |
| Owner Occupied HU | 12,830 (70.0%) |
| Renter Occupied HU | 4,253 (23.2%) |
| Vacant Housing Units | 1,247 ( 6.8%) |
| Median Home Value | $265,058 |
| Average Home Value | $287,562 |
Housing Distribution
Address Breakdown
Residential
18,030
Single Family
17,459
Multi-Family
571
Businesses
552
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Listed by: Tiffany Johnson • Joshua Mitchell Real Estate
Mls Name: Triad MLS
Mls ID: #1199877