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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Summertown at 511 Covered Bridge Ln, Summertown, TN, 38483 offers $5,695/mo rent that, after a $8,321/mo payment. Total monthly income is $5,695/mo. Return on cash invested measures 10.53% in year one, and rental yield stands at 4.02% at a $1,699,999 entry. Equity gained on principal adds $10,970/yr while 5% annual appreciation compounds into $469,678 by year five. Five-year ROI records 52.2% and total cumulative return in cash reaches $287,539. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $5,695/mo property income versus a $8,321/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2006
5.01 Acres lot
$N/A/sqft
$35 monthly HOA
Neighborhood data shown for ZIP Code: 38483, Summertown, TN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,589 (100%) |
| Owner Occupied HU | 1,971 (76.1%) |
| Renter Occupied HU | 344 (13.3%) |
| Vacant Housing Units | 274 (10.6%) |
| Median Home Value | $293,605 |
| Average Home Value | $339,768 |
Residential
2,473
Single Family
2,369
Multi-Family
104
Businesses
117
Date | Event | Price |
|---|---|---|
| 2024-10-04 | Price change | $1,699,999 |
| 2024-08-23 | Listed for sale | $1,799,999 |
| 2020-11-20 | Sold | $787,500 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-11-13 | $4522.12 | N/A | $224,925 | N/A |
| 2022-11-13 | $4522.12 | -22.40% | $224,925 | 14.20% |
| 2021-11-13 | $5827.55 | N/A | $196,950 | N/A |
No similar rental properties found nearby.
No similar price properties found nearby.
Listed by: Christina Elizabeth Sweeney • Luxury Homes of Tennessee
Mls Name: RealTracs MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #2695175
Disclaimer: Based on information submitted to the MLS GRID as of 2024-11-13 03:41:20 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_99)
