713 Douglas AveMorristownTN37813
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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
Investment property for sale in Morristown at 713 Douglas Ave, Morristown, TN, 37813 uses $79,527 cash to close to unlock $5,101/yr annual cash flow and $425/mo monthly cash flow. Total monthly income runs $1,861/mo, and a $1,174/mo payment keeps the spread at $425/mo. Purchase price stands at $239,900, and rental yield measures 9.31% with $1,861/mo rent. Return on cash invested shows 26.32% in year one, and 5% annual appreciation builds toward $66,280 over five years. Five-year ROI reaches 137.03% and total cumulative return in cash records $108,979. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,861/mo property income covering a $1,174/mo payment rather than investor’s personal income.
Single Family
Built in 1950
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 37813, Morristown, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,285 (100%) |
| Owner Occupied HU | 4,608 (55.6%) |
| Renter Occupied HU | 2,984 (36.0%) |
| Vacant Housing Units | 693 ( 8.4%) |
| Median Home Value | $219,848 |
| Average Home Value | $272,801 |
Housing Distribution
Address Breakdown
Residential
7,862
Single Family
7,620
Multi-Family
242
Businesses
747
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Listed by: Rachel Odom • Crye-Leike Lakeway Real Estate
Mls Name: Lakeway Area AOR
Mls ID: #708564