221 Picard DrNewport 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
Investment property for sale in Newport News at 221 Picard Dr, Newport News, VA, 23602 uses $76,212 cash to close to unlock $10,271/yr annual cash flow and $856/mo monthly cash flow. Total monthly income runs $2,230/mo, and a $1,125/mo payment keeps the spread at $856/mo. Purchase price stands at $229,900, and rental yield measures 11.64% with $2,230/mo rent. Return on cash invested shows 33.39% in year one, and 5% annual appreciation builds toward $63,517 over five years. Five-year ROI reaches 174.82% and total cumulative return in cash records $133,235. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,230/mo property income covering a $1,125/mo payment rather than investor’s personal income.
Single Family
Built in 1971
9,583 sqft 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: Tyrone Simons • The Virginia Real Estate Firm
Mls Name: REIN Inc.
Mls ID: #10594573