506 Charleston Gift RdCovingtonTN38019
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
Investment property for sale in Covington at 506 Charleston Gift Rd, Covington, TN, 38019 offers a 10.82% rental yield on a $245,000 purchase with $2,209/mo rent. Total monthly income registers $2,209/mo, and a $1,199/mo payment leaves $743/mo available for distribution. Annual cash flow reaches $8,910/yr on $81,218 to close, and return on cash invested stands at 30.88% in year one. Equity gained on principal adds $1,581/yr while 5% annual appreciation supports $67,689 over five years. Portfolio math shows five-year ROI at 161.42% and total cumulative return in cash at $131,100. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,209/mo property income against a $1,199/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2000
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: James Harvey • Keller Williams
Mls Name: MAAR
Mls Provider:
Mls ID: #10182619
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Some or all of the listings displayed may not belong to the firm whose website is being visited. Copyright 2024 Memphis Area Association of REALTORS.