1108 Grove AveRichmondVA23220
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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 Richmond at 1108 Grove Ave, Richmond, VA, 23220 offers a 2.05% rental yield on a $1,200,000 purchase with $2,054/mo rent. 56% in year one. Equity gained on principal adds $7,743/yr while 5% annual appreciation supports $331,538 over five years. Portfolio math shows five-year ROI at 20.15% and total cumulative return in cash at $78,359. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,054/mo property income against a $5,873/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Multi Family
Built in 1910
2,221 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23220, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,204 (100%) |
| Owner Occupied HU | 4,744 (24.7%) |
| Renter Occupied HU | 12,895 (67.1%) |
| Vacant Housing Units | 1,565 ( 8.1%) |
| Median Home Value | $514,099 |
| Average Home Value | $600,389 |
Housing Distribution
Address Breakdown
Residential
19,181
Single Family
10,606
Multi-Family
8,575
Businesses
1,372
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Listed by: Cornell Urquhart • United Real Estate Richmond
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2424794
Disclaimer: All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are 2023 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.