6042 Cherry LnWiseVA24293
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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 Wise at 6042 Cherry Ln, Wise, VA, 24293 generates $1,897/mo in rent and, after a $1,175/mo payment, leaves $462/mo in cash flow. Total monthly income is $1,897/mo, and annual cash flow is $5,544/yr on $79,560 invested. Return on cash invested sits at 26.88% in year one, and rental yield is 9.49% on a $240,000 entry. Equity gained on principal adds $1,549/yr, while 5% annual appreciation builds toward $66,308 over five years. Five-year ROI reaches 139.91% and total cumulative return in cash sums $111,314. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,897/mo property income rather than buyer’s personal income.
Manufactured
Built in 2005
1.02 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24293, Wise, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,599 (100%) |
| Owner Occupied HU | 2,926 (63.6%) |
| Renter Occupied HU | 1,056 (23.0%) |
| Vacant Housing Units | 617 (13.4%) |
| Median Home Value | $147,257 |
| Average Home Value | $186,067 |
Housing Distribution
Address Breakdown
Residential
2,798
Single Family
2,726
Multi-Family
72
Businesses
313
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