2 Mears CirNewport NewsVA23602
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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 Newport News at 2 Mears Cir, Newport News, VA, 23602 generates $3,263/mo in rent and, after a $2,545/mo payment, leaves $155/mo in cash flow. Total monthly income is $3,263/mo, and annual cash flow is $1,856/yr on $171,080 invested. Return on cash invested sits at 21.15% in year one, and rental yield is 7.53% on a $520,000 entry. Equity gained on principal adds $3,355/yr, while 5% annual appreciation builds toward $143,666 over five years. Five-year ROI reaches 109.16% and total cumulative return in cash sums $186,743. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,263/mo property income rather than buyer’s personal income.
Single Family
Built in 1984
0.65 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23602, Newport News, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,910 (100%) |
| Owner Occupied HU | 9,840 (52.0%) |
| Renter Occupied HU | 8,023 (42.4%) |
| Vacant Housing Units | 1,047 ( 5.5%) |
| Median Home Value | $321,359 |
| Average Home Value | $321,915 |
Housing Distribution
Address Breakdown
Residential
18,280
Single Family
16,019
Multi-Family
2,261
Businesses
939
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Listed by: Dr. Mary Kraft • Military Veterans Realty
Mls Name: REIN Inc.
Mls ID: #10599454