512 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
Rental property for sale in Richmond at 512 Letcher Ave, Richmond, KY, 40475 offers $1,148/mo rent that, after a $710/mo payment, leaves $265/mo cash flow. Total monthly income is $1,148/mo, and annual cash flow is $3,183/yr on $48,068 cash. Return on cash invested measures 26.53% in year one, and rental yield stands at 9.5% at a $145,000 entry. Equity gained on principal adds $936/yr while 5% annual appreciation compounds into $40,061 by year five. Five-year ROI records 138.3% and total cumulative return in cash reaches $66,476. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,148/mo property income versus a $710/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in N/A
7,840 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: L Jason Carpenter • Lifstyl Real Estate
Mls Name: Imagine MLS
Mls Provider:
Mls ID: #25018915
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.