1016 Thoroughgood Way APT 101ChesapeakeVA23324
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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 1016 Thoroughgood Way APT 101, Chesapeake, VA, 23324 generates $2,190/mo in rent and, after a $1,126/mo payment, leaves $815/mo in cash flow. Total monthly income is $2,190/mo, and annual cash flow is $9,778/yr on $76,245 invested. Return on cash invested sits at 32.73% in year one, and rental yield is 11.43% on a $230,000 entry. Equity gained on principal adds $1,484/yr, while 5% annual appreciation builds toward $63,545 over five years. Five-year ROI reaches 171.34% and total cumulative return in cash sums $130,639. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,190/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: 23324, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,683 (100%) |
| Owner Occupied HU | 5,387 (50.4%) |
| Renter Occupied HU | 4,662 (43.6%) |
| Vacant Housing Units | 634 ( 5.9%) |
| Median Home Value | $270,429 |
| Average Home Value | $314,214 |
Housing Distribution
Address Breakdown
Residential
9,692
Single Family
9,482
Multi-Family
210
Businesses
594
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Listed by: Rosalind Levy • KW Coastal Virginia Chesapeake
Mls Name: REIN Inc.
Mls ID: #10605008