118 Summit StCharlottesvilleVA22903
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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 Charlottesville at 118 Summit St, Charlottesville, VA, 22903 generates $2,509/mo in rent, after a $2,325/mo payment. Total monthly income is $2,509/mo. Return on cash invested sits at 17.39% in year one, and rental yield is 6.34% on a $475,000 entry. Equity gained on principal adds $3,065/yr, while 5% annual appreciation builds toward $131,234 over five years. Five-year ROI reaches 89.07% and total cumulative return in cash sums $140,251. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,509/mo property income rather than buyer’s personal income.
Single Family
Built in 1946
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 22903, Charlottesville, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,943 (100%) |
| Owner Occupied HU | 7,004 (37.0%) |
| Renter Occupied HU | 10,256 (54.1%) |
| Vacant Housing Units | 1,683 ( 8.9%) |
| Median Home Value | $603,432 |
| Average Home Value | $711,730 |
Housing Distribution
Address Breakdown
Residential
18,660
Single Family
13,524
Multi-Family
5,136
Businesses
1,241
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Listed by: Inessa Telefus • LORING WOODRIFF REAL ESTATE ASSOCIATES
Mls Name: CAAR
Mls Provider:
Mls ID: #655465
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.