16246 Main Ridge RdTangierVA23440
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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 Tangier at 16246 Main Ridge Rd, Tangier, VA, 23440 generates $1,306/mo in rent and, after a $822/mo payment, leaves $302/mo in cash flow. Total monthly income is $1,306/mo, and annual cash flow is $3,624/yr on $55,692 invested. Return on cash invested sits at 26.42% in year one, and rental yield is 9.33% on a $168,000 entry. Equity gained on principal adds $1,084/yr, while 5% annual appreciation builds toward $46,415 over five years. Five-year ROI reaches 137.46% and total cumulative return in cash sums $76,553. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,306/mo property income rather than buyer’s personal income.
Single Family
Built in 1880
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23440, Tangier, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 277 (100%) |
| Owner Occupied HU | 192 (69.3%) |
| Renter Occupied HU | 14 ( 5.1%) |
| Vacant Housing Units | 71 (25.6%) |
| Median Home Value | $136,719 |
| Average Home Value | $135,065 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
13
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Listed by: Irene Lewin • LEWIN & CARR INC.
Mls Name: Eastern Shore AOR
Mls Provider:
Mls ID: #62050
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.