509 Patton Ave NWRoanokeVA24016
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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 Roanoke at 509 Patton Ave NW, Roanoke, VA, 24016 offers $1,361/mo rent that, after a $929/mo payment, leaves $226/mo cash flow. Total monthly income is $1,361/mo, and annual cash flow is $2,715/yr on $62,952 cash. Return on cash invested measures 24.22% in year one, and rental yield stands at 8.6% at a $189,900 entry. Equity gained on principal adds $1,225/yr while 5% annual appreciation compounds into $52,466 by year five. Five-year ROI records 125.76% and total cumulative return in cash reaches $79,169. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,361/mo property income versus a $929/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1895
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24016, Roanoke, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,423 (100%) |
| Owner Occupied HU | 1,159 (21.4%) |
| Renter Occupied HU | 3,460 (63.8%) |
| Vacant Housing Units | 804 (14.8%) |
| Median Home Value | $284,524 |
| Average Home Value | $433,268 |
Housing Distribution
Address Breakdown
Residential
5,017
Single Family
3,783
Multi-Family
1,234
Businesses
685
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