1824 Garrett StPortsmouthVA23702
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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 Portsmouth at 1824 Garrett St, Portsmouth, VA, 23702 uses $71,273 cash to close to unlock $5,269/yr annual cash flow and $439/mo monthly cash flow. Total monthly income runs $1,724/mo, and a $1,052/mo payment keeps the spread at $439/mo. Purchase price stands at $215,000, and rental yield measures 9.62% with $1,724/mo rent. Return on cash invested shows 27.3% in year one, and 5% annual appreciation builds toward $59,401 over five years. Five-year ROI reaches 142.26% and total cumulative return in cash records $101,389. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,724/mo property income covering a $1,052/mo payment rather than investor’s personal income.
Single Family
Built in 1941
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23702, Portsmouth, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,388 (100%) |
| Owner Occupied HU | 2,398 (44.5%) |
| Renter Occupied HU | 2,518 (46.7%) |
| Vacant Housing Units | 472 ( 8.8%) |
| Median Home Value | $233,818 |
| Average Home Value | $252,204 |
Housing Distribution
Address Breakdown
Residential
5,091
Single Family
4,806
Multi-Family
285
Businesses
254
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Listed by: Catalina Hernandez • Realty of America LLC
Mls Name: REIN Inc.
Mls ID: #10600906