801 Colonial DrMorristownTN37814
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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 Morristown at 801 Colonial Dr, Morristown, TN, 37814 priced at $879,900 converts $5,854/mo rent into $586/mo cash flow after a $4,307/mo obligation. Total monthly income equals $5,854/mo, and annual cash flow totals $7,037/yr on $289,487 invested. Return on cash invested prints 22.49% in year one, and rental yield reads 7.98% against a $879,900 entry. Equity gained on principal adds $5,678/yr, while 5% annual appreciation compiles into $243,100 by year five. Five-year ROI reaches 116.39% and total cumulative return in cash sums $336,937. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,854/mo property income covering a $4,307/mo payment, not borrower’s personal income.
Single Family
Built in 1994
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 37814, Morristown, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,714 (100%) |
| Owner Occupied HU | 9,232 (62.7%) |
| Renter Occupied HU | 4,347 (29.5%) |
| Vacant Housing Units | 1,135 ( 7.7%) |
| Median Home Value | $259,404 |
| Average Home Value | $297,696 |
Housing Distribution
Address Breakdown
Residential
14,684
Single Family
14,205
Multi-Family
479
Businesses
1,032
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Listed by: Laura Dickerson • Keller Williams Properties
Mls Name: Lakeway Area AOR
Mls ID: #709058