1716 Summit Ave UNIT 3RichmondVA23230
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Total monthly income runs $2,075/mo, and a $1,698/mo payment. Purchase price stands at $347,000, and rental yield measures 7.18% with $2,075/mo rent. Return on cash invested shows 17.17% in year one, and 5% annual appreciation builds toward $95,870 over five years. Five-year ROI reaches 88.9% and total cumulative return in cash records $102,260. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,075/mo property income covering a $1,698/mo payment rather than investor’s personal income.
Condo
Built in 1900
1.20 Acres lot
$N/A/sqft
$264 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23230, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,768 (100%) |
| Owner Occupied HU | 1,956 (25.2%) |
| Renter Occupied HU | 4,845 (62.4%) |
| Vacant Housing Units | 967 (12.4%) |
| Median Home Value | $385,445 |
| Average Home Value | $403,986 |
Housing Distribution
Address Breakdown
Residential
7,470
Single Family
3,826
Multi-Family
3,644
Businesses
2,005
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sarah Jarvis • Samson Properties
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2509766
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.