The Covington Plan, Leighton LandingLake WalesFL33898
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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 Lake Wales at The Covington Plan, Leighton Landing, Lake Wales, FL, 33898 priced at $290,900 converts $2,204/mo rent into $273/mo cash flow after a $1,424/mo obligation. Total monthly income equals $2,204/mo, and annual cash flow totals $3,280/yr on $96,433 invested. Return on cash invested prints 23.31% in year one, and rental yield reads 9.09% against a $290,900 entry. Equity gained on principal adds $1,877/yr, while 5% annual appreciation compiles into $80,370 by year five. Five-year ROI reaches 121.7% and total cumulative return in cash sums $117,359. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,204/mo property income covering a $1,424/mo payment, not borrower’s personal income.
Single Family
Built in 2025
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33898, Lake Wales, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,977 (100%) |
| Owner Occupied HU | 5,967 (59.8%) |
| Renter Occupied HU | 1,521 (15.2%) |
| Vacant Housing Units | 2,489 (24.9%) |
| Median Home Value | $264,397 |
| Average Home Value | $297,827 |
Housing Distribution
Address Breakdown
Residential
8,631
Single Family
7,356
Multi-Family
1,275
Businesses
180
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Listed by: N/A • Southern Homes
Mls Name: My Southern Homes
Mls Provider:
Mls ID: #N/A