705 Melrose AveLexingtonKY40502
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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 Lexington at 705 Melrose Ave, Lexington, KY, 40502 priced at $629,900 converts $3,172/mo rent into after a $3,083/mo obligation. Total monthly income equals $3,172/mo. Return on cash invested prints 16.23% in year one, and rental yield reads 6.04% against a $629,900 entry. Equity gained on principal adds $4,065/yr, while 5% annual appreciation compiles into $174,030 by year five. Five-year ROI reaches 82.95% and total cumulative return in cash sums $171,903. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,172/mo property income covering a $3,083/mo payment, not borrower’s personal income.
Single Family
Built in 1929
6,151 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40502, Lexington, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,855 (100%) |
| Owner Occupied HU | 7,233 (52.2%) |
| Renter Occupied HU | 5,353 (38.6%) |
| Vacant Housing Units | 1,269 ( 9.2%) |
| Median Home Value | $506,048 |
| Average Home Value | $586,370 |
Housing Distribution
Address Breakdown
Residential
13,244
Single Family
10,478
Multi-Family
2,766
Businesses
624
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Listed by: Erica Sardar • The Brokerage
Mls Name: Imagine MLS
Mls Provider:
Mls ID: #25006782
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.