502 2nd Ave NWMageeMS39111
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 Magee at 502 2nd Ave NW, Magee, MS, 39111 offers $2,266/mo rent that, after a $1,394/mo payment, leaves $523/mo cash flow. Total monthly income is $2,266/mo, and annual cash flow is $6,276/yr on $94,444 cash. Return on cash invested measures 26.55% in year one, and rental yield stands at 9.54% at a $284,900 entry. Equity gained on principal adds $1,838/yr while 5% annual appreciation compounds into $78,713 by year five. Five-year ROI records 138.35% and total cumulative return in cash reaches $130,667. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,266/mo property income versus a $1,394/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1955
0.40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 39111, Magee, MS area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,081 (100%) |
| Owner Occupied HU | 2,485 (60.9%) |
| Renter Occupied HU | 996 (24.4%) |
| Vacant Housing Units | 600 (14.7%) |
| Median Home Value | $155,105 |
| Average Home Value | $163,878 |
Housing Distribution
Address Breakdown
Residential
3,972
Single Family
3,650
Multi-Family
322
Businesses
586
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Listed by: Hayden Holbrook • Back Porch Realty, LLC
Mls Name: MLS United
Mls ID: #4090236
Disclaimer: Information is deemed to be reliable but not guaranteed. Copyright 2024 MLS United, LLC.