8122 Rich Patch RdCovingtonVA24426
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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 Covington at 8122 Rich Patch Rd, Covington, VA, 24426 uses $59,653 cash to close to unlock $3,265/yr annual cash flow and $272/mo monthly cash flow. Total monthly income runs $1,348/mo, and a $881/mo payment keeps the spread at $272/mo. Purchase price stands at $179,950, and rental yield measures 8.99% with $1,348/mo rent. Return on cash invested shows 25.38% in year one, and 5% annual appreciation builds toward $49,717 over five years. Five-year ROI reaches 132% and total cumulative return in cash records $78,745. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,348/mo property income covering a $881/mo payment rather than investor’s personal income.
Single Family
Built in 1940
0.76 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24426, Covington, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,226 (100%) |
| Owner Occupied HU | 4,749 (65.7%) |
| Renter Occupied HU | 1,407 (19.5%) |
| Vacant Housing Units | 1,070 (14.8%) |
| Median Home Value | $121,270 |
| Average Home Value | $161,865 |
Housing Distribution
Address Breakdown
Residential
6,311
Single Family
6,128
Multi-Family
183
Businesses
501
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