1602 Monticello Ave UNIT ECharlottesvilleVA22902
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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 1602 Monticello Ave UNIT E, Charlottesville, VA, 22902 generates $1,825/mo in rent, after a $1,224/mo payment. Total monthly income is $1,825/mo. Return on cash invested sits at 19.33% in year one, and rental yield is 8.76% on a $250,000 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation builds toward $69,070 over five years. Five-year ROI reaches 101.46% and total cumulative return in cash sums $84,082. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,825/mo property income rather than buyer’s personal income.
Condo
Built in 1988
N/A lot
$N/A/sqft
$370 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 22902, Charlottesville, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,851 (100%) |
| Owner Occupied HU | 5,576 (51.4%) |
| Renter Occupied HU | 4,480 (41.3%) |
| Vacant Housing Units | 795 ( 7.3%) |
| Median Home Value | $451,661 |
| Average Home Value | $580,194 |
Housing Distribution
Address Breakdown
Residential
11,194
Single Family
9,644
Multi-Family
1,550
Businesses
1,901
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Listed by: Christopher Eagle • YES REALTY PARTNERS
Mls Name: CAAR
Mls Provider:
Mls ID: #662767
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.