1618 Park Ave #U2DRichmondVA23220
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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 Richmond at 1618 Park Ave #U2D, Richmond, VA, 23220 generates $1,541/mo in rent, after a $1,101/mo payment. Total monthly income is $1,541/mo. Return on cash invested sits at 16.15% in year one, and rental yield is 8.22% on a $225,000 entry. Equity gained on principal adds $1,452/yr, while 5% annual appreciation builds toward $62,163 over five years. Five-year ROI reaches 84.96% and total cumulative return in cash sums $63,369. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,541/mo property income rather than buyer’s personal income.
Condo
Built in 1919
609.84 sqft lot
$N/A/sqft
$390 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: Greg Somerville • Shaheen Ruth Martin & Fonville
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2507001
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.