1507 Heritage AveVirginia BeachVA23464
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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 Virginia Beach at 1507 Heritage Ave, Virginia Beach, VA, 23464 offers a 8.64% rental yield on a $285,000 purchase with $2,051/mo rent. Total monthly income registers $2,051/mo, and a $1,395/mo payment leaves $347/mo available for distribution. Annual cash flow reaches $4,167/yr on $94,478 to close, and return on cash invested stands at 24.32% in year one. Equity gained on principal adds $1,839/yr while 5% annual appreciation supports $78,740 over five years. Portfolio math shows five-year ROI at 126.26% and total cumulative return in cash at $119,286. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,051/mo property income against a $1,395/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1987
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23464, Virginia Beach, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,109 (100%) |
| Owner Occupied HU | 20,321 (69.8%) |
| Renter Occupied HU | 7,987 (27.4%) |
| Vacant Housing Units | 801 ( 2.8%) |
| Median Home Value | $384,194 |
| Average Home Value | $434,023 |
Housing Distribution
Address Breakdown
Residential
28,766
Single Family
26,171
Multi-Family
2,595
Businesses
888
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Listed by: David Oglesby • Coastal Towne Realty
Mls Name: REIN Inc.
Mls ID: #10615196