1316 22nd StChesapeakeVA23324
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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 Chesapeake at 1316 22nd St, Chesapeake, VA, 23324 generates $2,244/mo in rent and, after a $1,395/mo payment, leaves $540/mo in cash flow. Total monthly income is $2,244/mo, and annual cash flow is $6,483/yr on $94,478 invested. Return on cash invested sits at 26.77% in year one, and rental yield is 9.45% on a $285,000 entry. Equity gained on principal adds $1,839/yr, while 5% annual appreciation builds toward $78,740 over five years. Five-year ROI reaches 139.41% and total cumulative return in cash sums $131,706. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,244/mo property income rather than buyer’s personal income.
Single Family
Built in 1910
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23324, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,683 (100%) |
| Owner Occupied HU | 5,387 (50.4%) |
| Renter Occupied HU | 4,662 (43.6%) |
| Vacant Housing Units | 634 ( 5.9%) |
| Median Home Value | $270,429 |
| Average Home Value | $314,214 |
Housing Distribution
Address Breakdown
Residential
9,692
Single Family
9,482
Multi-Family
210
Businesses
594
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Listed by: Dexter Gatlin • 1st Class RE Mid-Atlantic
Mls Name: REIN Inc.
Mls ID: #10595201