Many investors would love to buy passive income stocks with a high dividend yield, a sustainable level of earnings coverage of the dividend, and a cheap valuation. Most of the time, however, they are forced to pick stocks that feature just two of the three (if they're lucky). 

But sometimes investors can find that rare stock that features all three, allowing them to have their cake and eat it too. That's the case for the two businesses featured below.

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Source Fool.com