508 Washington StLynchburgVA24504
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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 Lynchburg at 508 Washington St, Lynchburg, VA, 24504 priced at $599,900 converts $3,814/mo rent into $228/mo cash flow after a $2,936/mo obligation. Total monthly income equals $3,814/mo, and annual cash flow totals $2,737/yr on $197,367 invested. Return on cash invested prints 21.45% in year one, and rental yield reads 7.63% against a $599,900 entry. Equity gained on principal adds $3,871/yr, while 5% annual appreciation compiles into $165,741 by year five. Five-year ROI reaches 110.8% and total cumulative return in cash sums $218,680. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,814/mo property income covering a $2,936/mo payment, not borrower’s personal income.
Single Family
Built in 1909
0.54 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24504, Lynchburg, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,237 (100%) |
| Owner Occupied HU | 2,088 (39.9%) |
| Renter Occupied HU | 2,135 (40.8%) |
| Vacant Housing Units | 1,014 (19.4%) |
| Median Home Value | $210,823 |
| Average Home Value | $227,948 |
Housing Distribution
Address Breakdown
Residential
4,875
Single Family
4,287
Multi-Family
588
Businesses
546
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