508 E Main St UNIT 402LexingtonKY40508
INVESTMENT ANALYSIS
Investment Verdict
Solid Income508 E Main St UNIT 402, Lexington, KY, 40508 in Lexington carries a 1.57 coverage ratio, rent of $3,434/mo is 1.57 times the $2,181/mo payment. Rental yield 8.5%. That margin gives both the investor and Ziffy Mortgage's DSCR underwriting a comfortable buffer at a $485,000 acquisition price. No U.S. credit or income documentation required. Five-year appreciation adds $133,997; total projected cumulative return: $160,701.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 5.2% |
| Monthly Cash Flow | $(418) | $385 |
City averages based on Lexington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,434 |
| Total Monthly Debt Service | $3,660 |
| DSCR Ratio | 0.94x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1932
N/A lot
$N/A/sqft
$901 monthly HOA
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
Condo
Built in 1932
N/A lot
$N/A/sqft
$901 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sarah B Espinosa • Re/Max Creative Realty
Mls Name: Imagine MLS
Mls Provider:
Mls ID: #24025514
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