638 Fellgrass StWavelandMS39576
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Nearby investment properties with comparable prices
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 Waveland at 638 Fellgrass St, Waveland, MS, 39576 offers $2,744/mo rent that, after a $1,713/mo payment, leaves $602/mo cash flow. Total monthly income is $2,744/mo, and annual cash flow is $7,228/yr on $115,992 cash. Return on cash invested measures 26.14% in year one, and rental yield stands at 9.41% at a $349,900 entry. Equity gained on principal adds $2,258/yr while 5% annual appreciation compounds into $96,671 by year five. Five-year ROI records 136.18% and total cumulative return in cash reaches $157,962. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,744/mo property income versus a $1,713/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2025
0.63 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 39576, Waveland, MS area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,513 (100%) |
| Owner Occupied HU | 1,888 (53.7%) |
| Renter Occupied HU | 1,029 (29.3%) |
| Vacant Housing Units | 596 (17.0%) |
| Median Home Value | $240,870 |
| Average Home Value | $289,420 |
Housing Distribution
Address Breakdown
Residential
3,050
Single Family
2,730
Multi-Family
320
Businesses
231
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Nearby investment properties with comparable prices
Listed by: Mindy A Dobson • Magnolia & CO Real Estate LLC
Mls Name: MLS United
Mls ID: #4134863