1614 Grove Ave #U6RichmondVA23220
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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 1614 Grove Ave #U6, Richmond, VA, 23220 uses $116,025 cash to close to unlock $2,535/yr annual cash flow and $211/mo monthly cash flow. Total monthly income runs $2,677/mo, and a $1,713/mo payment keeps the spread at $211/mo. Purchase price stands at $350,000, and rental yield measures 9.18% with $2,677/mo rent. Return on cash invested shows 22.09% in year one, and 5% annual appreciation builds toward $96,699 over five years. Five-year ROI reaches 115.71% and total cumulative return in cash records $134,258. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,677/mo property income covering a $1,713/mo payment rather than investor’s personal income.
Condo
Built in 1919
940.90 sqft lot
$N/A/sqft
$350 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23220, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,204 (100%) |
| Owner Occupied HU | 4,744 (24.7%) |
| Renter Occupied HU | 12,895 (67.1%) |
| Vacant Housing Units | 1,565 ( 8.1%) |
| Median Home Value | $514,099 |
| Average Home Value | $600,389 |
Housing Distribution
Address Breakdown
Residential
19,181
Single Family
10,606
Multi-Family
8,575
Businesses
1,372
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Listed by: Kori Langlie • Rashkind Saunders & Co.
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2512783
Disclaimer: All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are 2025 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.