402 N West StSomervilleTN38068
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 Somerville at 402 N West St, Somerville, TN, 38068 priced at $279,900 converts $1,872/mo rent into $196/mo cash flow after a $1,370/mo obligation. Total monthly income equals $1,872/mo, and annual cash flow totals $2,357/yr on $92,787 invested. Return on cash invested prints 22.45% in year one, and rental yield reads 8.03% against a $279,900 entry. Equity gained on principal adds $1,806/yr, while 5% annual appreciation compiles into $77,331 by year five. Five-year ROI reaches 116.23% and total cumulative return in cash sums $107,845. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,872/mo property income covering a $1,370/mo payment, not borrower’s personal income.
Single Family
Built in 2022
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38068, Somerville, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,966 (100%) |
| Owner Occupied HU | 3,435 (69.2%) |
| Renter Occupied HU | 1,177 (23.7%) |
| Vacant Housing Units | 354 ( 7.1%) |
| Median Home Value | $323,812 |
| Average Home Value | $405,777 |
Housing Distribution
Address Breakdown
Residential
4,667
Single Family
4,484
Multi-Family
183
Businesses
509
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Julie Jenkins • REMAX Experts
Mls Name: MAAR
Mls Provider:
Mls ID: #10182650
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Some or all of the listings displayed may not belong to the firm whose website is being visited. Copyright 2024 Memphis Area Association of REALTORS.