707 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 707 Melrose Ave, Lexington, KY, 40502 offers $4,746/mo rent that, after a $3,414/mo payment, leaves $501/mo cash flow. Total monthly income is $4,746/mo, and annual cash flow is $6,010/yr on $229,478 cash. Return on cash invested measures 22.68% in year one, and rental yield stands at 8.17% at a $697,500 entry. Equity gained on principal adds $4,501/yr while 5% annual appreciation compounds into $192,706 by year five. Five-year ROI records 117.52% and total cumulative return in cash reaches $269,687. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $4,746/mo property income versus a $3,414/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1929
6,298 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: Maggie Wells • Real Broker, LLC
Mls Name: Imagine MLS
Mls Provider:
Mls ID: #25018573
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.