1806 Binford LnRichmondVA23223
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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 1806 Binford Ln, Richmond, VA, 23223 uses $62,982 cash to close to unlock $8,282/yr annual cash flow and $690/mo monthly cash flow. Total monthly income runs $1,826/mo, and a $930/mo payment keeps the spread at $690/mo. Purchase price stands at $189,990, and rental yield measures 11.53% with $1,826/mo rent. Return on cash invested shows 33.06% in year one, and 5% annual appreciation builds toward $52,491 over five years. Five-year ROI reaches 173.15% and total cumulative return in cash records $109,053. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,826/mo property income covering a $930/mo payment rather than investor’s personal income.
Single Family
Built in 1949
9,099 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23223, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,758 (100%) |
| Owner Occupied HU | 10,196 (39.6%) |
| Renter Occupied HU | 13,614 (52.9%) |
| Vacant Housing Units | 1,948 ( 7.6%) |
| Median Home Value | $324,118 |
| Average Home Value | $376,819 |
Housing Distribution
Address Breakdown
Residential
26,126
Single Family
20,110
Multi-Family
6,016
Businesses
1,056
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