501 Heather Ridge Dr UNIT 8C, Frederick, MD, 21702 | $259/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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501 Heather Ridge Dr UNIT 8C, Frederick, MD, 21702 | $259/mo Cash Flow | Ziffy

For Sale

Motivated Seller

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Frederick at 501 Heather Ridge Dr UNIT 8C, Frederick, MD, 21702 offers $1,310/mo rent that, after a $827/mo payment, leaves $259/mo cash flow. Total monthly income is $1,310/mo, and annual cash flow is $3,109/yr on $56,024 cash. Return on cash invested measures 25.46% in year one, and rental yield stands at 9.3% at a $169,000 entry. Equity gained on principal adds $1,091/yr while 5% annual appreciation compounds into $46,692 by year five. Five-year ROI records 132.71% and total cumulative return in cash reaches $74,347. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,310/mo property income versus a $827/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.

Condo

Built in 1982

N/A lot

$N/A/sqft

No HOA

More details about the property

FANNIE MAE CONVENTIONAL LOAN APPROVAL IS RESTORED FIRST WEEK OF OCTOBER! The days on market reflect the 4 month effort by all at project to get this returned so other purchase options rather than all cash. This 2 bedroom/1 bathroom unit offers a perfect blend of comfort and functionality. The galley kitchen, complete with a breakfast bar, is perfect for enjoying your morning coffee. Natural light fills the home, With the added convenience of in-unit washer and dryer hookups, daily chores become a breeze. The well-maintained community offers amenities such as tot lots and playgrounds. Close to shopping, restaurants, medical providers, Route 15 and I-270, I-70 and historic and quaint downtown Frederick. This is the perfect location for your needs, Your worries about maintenance are eased with the association fee covering exterior building maintenance, lawn care, snow removal, and trash services. PRICE REDUCED - MOTIVATED SELLER! DOM is due to Fannie Mae issue which is now remedied.

Neighborhood Data

Neighborhood data shown for ZIP Code: 21702, Frederick, MD area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	19,989 (100%)
Owner Occupied HU	12,184 (61.0%)
Renter Occupied HU	6,992 (35.0%)
Vacant Housing Units	813 ( 4.1%)
Median Home Value	$466,678
Average Home Value	$529,447