1216 Myrtle AveChesapeakeVA23325
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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 Chesapeake at 1216 Myrtle Ave, Chesapeake, VA, 23325 uses $149,175 cash to close to unlock $8,370/yr annual cash flow and $698/mo monthly cash flow. Total monthly income runs $3,388/mo, and a $2,203/mo payment keeps the spread at $698/mo. Purchase price stands at $450,000, and rental yield measures 9.03% with $3,388/mo rent. Return on cash invested shows 25.52% in year one, and 5% annual appreciation builds toward $124,327 over five years. Five-year ROI reaches 132.66% and total cumulative return in cash records $197,898. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,388/mo property income covering a $2,203/mo payment rather than investor’s personal income.
Single Family
Built in 2008
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23325, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,192 (100%) |
| Owner Occupied HU | 4,772 (66.4%) |
| Renter Occupied HU | 2,156 (30.0%) |
| Vacant Housing Units | 264 ( 3.7%) |
| Median Home Value | $325,568 |
| Average Home Value | $395,949 |
Housing Distribution
Address Breakdown
Residential
7,264
Single Family
7,212
Multi-Family
52
Businesses
284
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Listed by: Alisia Minott • NextHome Mission to Serve
Mls Name: REIN Inc.
Mls ID: #10616719