406 E Pleasant AveCovingtonTN38019
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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 Covington at 406 E Pleasant Ave, Covington, TN, 38019 priced at $135,000 converts $1,260/mo rent into $452/mo cash flow after a $661/mo obligation. Total monthly income equals $1,260/mo, and annual cash flow totals $5,420/yr on $44,753 invested. Return on cash invested prints 32.02% in year one, and rental yield reads 11.2% against a $135,000 entry. Equity gained on principal adds $871/yr, while 5% annual appreciation compiles into $37,298 by year five. Five-year ROI reaches 167.56% and total cumulative return in cash sums $74,989. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,260/mo property income covering a $661/mo payment, not borrower’s personal income.
Single Family
Built in 1918
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38019, Covington, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,781 (100%) |
| Owner Occupied HU | 3,959 (58.4%) |
| Renter Occupied HU | 2,371 (35.0%) |
| Vacant Housing Units | 451 ( 6.7%) |
| Median Home Value | $240,007 |
| Average Home Value | $260,976 |
Housing Distribution
Address Breakdown
Residential
6,326
Single Family
5,851
Multi-Family
475
Businesses
733
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