2229 Hanover Ave NWRoanokeVA24017
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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 Roanoke at 2229 Hanover Ave NW, Roanoke, VA, 24017 uses $60,061 cash to close to unlock $9,585/yr annual cash flow and $799/mo monthly cash flow. Total monthly income runs $1,882/mo, and a $887/mo payment keeps the spread at $799/mo. Purchase price stands at $181,179, and rental yield measures 12.47% with $1,882/mo rent. Return on cash invested shows 35.87% in year one, and 5% annual appreciation builds toward $50,056 over five years. Five-year ROI reaches 188.17% and total cumulative return in cash records $113,019. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,882/mo property income covering a $887/mo payment rather than investor’s personal income.
Single Family
Built in 1923
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24017, Roanoke, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,832 (100%) |
| Owner Occupied HU | 4,937 (45.6%) |
| Renter Occupied HU | 4,745 (43.8%) |
| Vacant Housing Units | 1,150 (10.6%) |
| Median Home Value | $179,363 |
| Average Home Value | $249,002 |
Housing Distribution
Address Breakdown
Residential
10,227
Single Family
9,345
Multi-Family
882
Businesses
659
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