1602 N 24th StRichmondVA23223
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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 Richmond at 1602 N 24th St, Richmond, VA, 23223 offers a 9.44% rental yield on a $199,950 purchase with $1,573/mo rent. Total monthly income registers $1,573/mo, and a $979/mo payment leaves $377/mo available for distribution. Annual cash flow reaches $4,529/yr on $66,283 to close, and return on cash invested stands at 26.74% in year one. Equity gained on principal adds $1,290/yr while 5% annual appreciation supports $55,243 over five years. Portfolio math shows five-year ROI at 139.24% and total cumulative return in cash at $92,296. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,573/mo property income against a $979/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1941
8,058 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23223, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,758 (100%) |
| Owner Occupied HU | 10,196 (39.6%) |
| Renter Occupied HU | 13,614 (52.9%) |
| Vacant Housing Units | 1,948 ( 7.6%) |
| Median Home Value | $324,118 |
| Average Home Value | $376,819 |
Housing Distribution
Address Breakdown
Residential
26,126
Single Family
20,110
Multi-Family
6,016
Businesses
1,056
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