1716 Summit Ave UNIT 3RichmondVA23230
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderReliable and efficiently structured, 1716 Summit Ave UNIT 3, Richmond, VA, 23230 in Richmond is a conservative rental investment at $347,000. Rental yield 7.18%. A 1.33 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $95,870; $3,196/yr in principal paydown supplements. Total projected return: $115,542.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.2% | 6.5% |
| Monthly Cash Flow | $(263) | $450 |
City averages based on Richmond market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,075 |
| Total Monthly Debt Service | $2,200 |
| DSCR Ratio | 0.94x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
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
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
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.