510 Letcher AveRichmondKY40475
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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
Investment property for sale in Richmond at 510 Letcher Ave, Richmond, KY, 40475 listed at $205,900 pairs $1,300/mo rent with a $1,008/mo payment to leave $47/mo cash flow. Total monthly income runs $1,300/mo, and annual cash flow reaches $560/yr on $68,256 cash to close. Return on cash invested measures 20.73% in year one, and rental yield registers 7.58% at a $205,900 basis. Equity gained on principal adds $1,329/yr, and annual property appreciation at 5% supports $56,886 by year five. Five-year ROI tracks 107.14% and total cumulative return in cash totals $73,128. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,300/mo property income relative to a $1,008/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1959
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40475, Richmond, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,247 (100%) |
| Owner Occupied HU | 15,772 (53.9%) |
| Renter Occupied HU | 11,180 (38.2%) |
| Vacant Housing Units | 2,295 ( 7.8%) |
| Median Home Value | $284,131 |
| Average Home Value | $320,088 |
Housing Distribution
Address Breakdown
Residential
28,136
Single Family
26,632
Multi-Family
1,504
Businesses
1,528
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Listed by: Kim Caywood • The Real Estate Co.
Mls Name: Imagine MLS
Mls Provider:
Mls ID: #25500941
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.