2109 Hanover AveRichmondVA23220
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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 Richmond at 2109 Hanover Ave, Richmond, VA, 23220 priced at $1,200,000 converts $4,008/mo rent into after a $5,873/mo obligation. Total monthly income equals $4,008/mo. Return on cash invested prints 10.6% in year one, and rental yield reads 4.01% against a $1,200,000 entry. Equity gained on principal adds $7,743/yr, while 5% annual appreciation compiles into $331,538 by year five. Five-year ROI reaches 52.54% and total cumulative return in cash sums $204,275. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,008/mo property income covering a $5,873/mo payment, not borrower’s personal income.
Single Family
Built in 1910
2,875 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23220, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,204 (100%) |
| Owner Occupied HU | 4,744 (24.7%) |
| Renter Occupied HU | 12,895 (67.1%) |
| Vacant Housing Units | 1,565 ( 8.1%) |
| Median Home Value | $514,099 |
| Average Home Value | $600,389 |
Housing Distribution
Address Breakdown
Residential
19,181
Single Family
10,606
Multi-Family
8,575
Businesses
1,372
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Listed by: Suzanne Thornton • Chesterfield Realty
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2510945
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.