6281 Covington WayGoletaCA93117
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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 Goleta at 6281 Covington Way, Goleta, CA, 93117 generates $7,660/mo in rent, after a $8,296/mo payment. Total monthly income is $7,660/mo. Return on cash invested sits at 14.2% in year one, and rental yield is 5.42% on a $1,695,000 entry. Equity gained on principal adds $10,938/yr, while 5% annual appreciation builds toward $468,297 over five years. Five-year ROI reaches 72.1% and total cumulative return in cash sums $395,985. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $7,660/mo property income rather than buyer’s personal income.
Single Family
Built in 1963
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93117, Goleta, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,278 (100%) |
| Owner Occupied HU | 6,628 (36.3%) |
| Renter Occupied HU | 10,645 (58.2%) |
| Vacant Housing Units | 1,005 ( 5.5%) |
| Median Home Value | $1,032,223 |
| Average Home Value | $1,161,338 |
Housing Distribution
Address Breakdown
Residential
16,996
Single Family
13,058
Multi-Family
3,938
Businesses
1,369
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Listed by: Andy Katsev • Village Properties - 1
Mls Name: SBMLS
Mls ID: #26-110