413 Covina Dr SWDecaturAL35603
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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 Decatur at 413 Covina Dr SW, Decatur, AL, 35603 offers $1,795/mo rent that, after a $1,223/mo payment, leaves $285/mo cash flow. Total monthly income is $1,795/mo, and annual cash flow is $3,415/yr on $82,842 cash. Return on cash invested measures 24.03% in year one, and rental yield stands at 8.62% at a $249,900 entry. Equity gained on principal adds $1,613/yr while 5% annual appreciation compounds into $69,043 by year five. Five-year ROI records 124.78% and total cumulative return in cash reaches $103,370. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,795/mo property income versus a $1,223/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Townhouse
Built in 1990
N/A lot
$N/A/sqft
$100 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 35603, Decatur, AL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,772 (100%) |
| Owner Occupied HU | 9,786 (66.2%) |
| Renter Occupied HU | 4,228 (28.6%) |
| Vacant Housing Units | 758 ( 5.1%) |
| Median Home Value | $258,997 |
| Average Home Value | $295,900 |
Housing Distribution
Address Breakdown
Residential
14,489
Single Family
13,004
Multi-Family
1,485
Businesses
624
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Listed by: Philip Wright • MeritHouse Realty
Mls Name: ValleyMLS
Mls Provider:
Mls ID: #21890365
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