1008 Cranberry Dr #88ChesapeakeVA23320
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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 Chesapeake at 1008 Cranberry Dr #88, Chesapeake, VA, 23320 generates $2,695/mo in rent, after a $2,472/mo payment. Total monthly income is $2,695/mo. Return on cash invested sits at 17.72% in year one, and rental yield is 6.4% on a $505,000 entry. Equity gained on principal adds $3,259/yr, while 5% annual appreciation builds toward $139,522 over five years. Five-year ROI reaches 90.78% and total cumulative return in cash sums $150,834. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,695/mo property income rather than buyer’s personal income.
Condo
Built in 2015
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23320, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,228 (100%) |
| Owner Occupied HU | 16,419 (60.3%) |
| Renter Occupied HU | 9,921 (36.4%) |
| Vacant Housing Units | 888 ( 3.3%) |
| Median Home Value | $404,246 |
| Average Home Value | $433,358 |
Housing Distribution
Address Breakdown
Residential
26,352
Single Family
23,973
Multi-Family
2,379
Businesses
2,648
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Listed by: Brandi McNeil • Creed Realty
Mls Name: REIN Inc.
Mls ID: #10616175