114 Echo AveRichmondVA23223
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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 114 Echo Ave, Richmond, VA, 23223 offers a 9.36% rental yield on a $169,950 purchase with $1,326/mo rent. Total monthly income registers $1,326/mo, and a $832/mo payment leaves $310/mo available for distribution. Annual cash flow reaches $3,719/yr on $56,338 to close, and return on cash invested stands at 26.51% in year one. Equity gained on principal adds $1,097/yr while 5% annual appreciation supports $46,954 over five years. Portfolio math shows five-year ROI at 137.95% and total cumulative return in cash at $77,717. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,326/mo property income against a $832/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1937
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23223, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,758 (100%) |
| Owner Occupied HU | 10,196 (39.6%) |
| Renter Occupied HU | 13,614 (52.9%) |
| Vacant Housing Units | 1,948 ( 7.6%) |
| Median Home Value | $324,118 |
| Average Home Value | $376,819 |
Housing Distribution
Address Breakdown
Residential
26,126
Single Family
20,110
Multi-Family
6,016
Businesses
1,056
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Listed by: Dean Cobb • Lee Conner Realty & Assoc.
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2429305
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.