1116 E 16th StRichmondVA23224
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 1116 E 16th St, Richmond, VA, 23224 in Richmond. Priced at $306,000, it generates $2,594/mo in gross rent and $712/mo in net monthly cash flow, a 10.17% yield that comfortably supports the 1.89 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $8,546. Five-year appreciation: $84,542. Equity from principal paydown: $2,818/yr. Total projected cumulative return: $161,814.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 6.5% |
| Monthly Cash Flow | $712 | $450 |
City averages based on Richmond market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,594 |
| Total Monthly Debt Service | $1,761 |
| DSCR Ratio | 1.47x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1947
5,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23224, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,732 (100%) |
| Owner Occupied HU | 5,371 (27.2%) |
| Renter Occupied HU | 12,527 (63.5%) |
| Vacant Housing Units | 1,834 ( 9.3%) |
| Median Home Value | $217,533 |
| Average Home Value | $299,484 |
Housing Distribution
Address Breakdown
Residential
19,419
Single Family
14,615
Multi-Family
4,804
Businesses
1,358
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1947
5,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23224, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,732 (100%) |
| Owner Occupied HU | 5,371 (27.2%) |
| Renter Occupied HU | 12,527 (63.5%) |
| Vacant Housing Units | 1,834 ( 9.3%) |
| Median Home Value | $217,533 |
| Average Home Value | $299,484 |
Housing Distribution
Address Breakdown
Residential
19,419
Single Family
14,615
Multi-Family
4,804
Businesses
1,358
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: James OConnell • Coldwell Banker Avenues
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2508245
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 2025 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.