409 E Spruce AveMidlandTX79705
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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
Investment property for sale in Midland at 409 E Spruce Ave, Midland, TX, 79705 uses $61,328 cash to close to unlock $1,235/yr annual cash flow and $103/mo monthly cash flow. Total monthly income runs $1,418/mo, and a $905/mo payment keeps the spread at $103/mo. Purchase price stands at $185,000, and rental yield measures 9.2% with $1,418/mo rent. Return on cash invested shows 21.92% in year one, and 5% annual appreciation builds toward $51,112 over five years. Five-year ROI reaches 114.84% and total cumulative return in cash records $70,431. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,418/mo property income covering a $905/mo payment rather than investor’s personal income.
Single Family
Built in 1952
0.77 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79705, Midland, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,134 (100%) |
| Owner Occupied HU | 12,799 (60.6%) |
| Renter Occupied HU | 5,573 (26.4%) |
| Vacant Housing Units | 2,762 (13.1%) |
| Median Home Value | $350,630 |
| Average Home Value | $398,058 |
Housing Distribution
Address Breakdown
Residential
21,890
Single Family
16,635
Multi-Family
5,255
Businesses
1,329
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