511 Covey AveBakersfieldCA93308
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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 Bakersfield at 511 Covey Ave, Bakersfield, CA, 93308 priced at $220,000 converts $1,466/mo rent into after a $1,077/mo obligation. Total monthly income equals $1,466/mo. Return on cash invested prints 19.59% in year one, and rental yield reads 8% against a $220,000 entry. Equity gained on principal adds $1,420/yr, while 5% annual appreciation compiles into $60,782 by year five. Five-year ROI reaches 101.87% and total cumulative return in cash sums $74,291. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,466/mo property income covering a $1,077/mo payment, not borrower’s personal income.
Single Family
Built in 1945
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93308, Bakersfield, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,142 (100%) |
| Owner Occupied HU | 10,016 (47.4%) |
| Renter Occupied HU | 10,052 (47.5%) |
| Vacant Housing Units | 1,074 ( 5.1%) |
| Median Home Value | $334,697 |
| Average Home Value | $364,464 |
Housing Distribution
Address Breakdown
Residential
20,748
Single Family
19,550
Multi-Family
1,198
Businesses
2,160
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Listed by: William George Mell III • Bill Mell & Associates
Mls Name: Bakersfield AOR
Mls Provider:
Mls ID: #202503543
Disclaimer: Information is deemed reliable but not guaranteed. Copyright Golden Empire MLS, Inc. 2025.