638 S Lake DrIndependenceMO64053
Nearby investment properties with comparable rents
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 Independence at 638 S Lake Dr, Independence, MO, 64053 offers $960/mo rent that, after a $562/mo payment, leaves $245/mo cash flow. Total monthly income is $960/mo, and annual cash flow is $2,938/yr on $38,089 cash. Return on cash invested measures 27.62% in year one, and rental yield stands at 10.03% at a $114,900 entry. Equity gained on principal adds $741/yr while 5% annual appreciation compounds into $31,745 by year five. Five-year ROI records 144.27% and total cumulative return in cash reaches $54,950. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $960/mo property income versus a $562/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
5,926 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 64053, Independence, MO area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,644 (100%) |
| Owner Occupied HU | 1,235 (46.7%) |
| Renter Occupied HU | 1,076 (40.7%) |
| Vacant Housing Units | 333 (12.6%) |
| Median Home Value | $87,337 |
| Average Home Value | $136,152 |
Housing Distribution
Address Breakdown
Residential
2,424
Single Family
2,362
Multi-Family
62
Businesses
76
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Listed by: Cheryl Beal • ReeceNichols - Eastland
Mls Name: Heartland MLS as distributed by MLS GRID
Mls ID: #2576169