2246 Park 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 2246 Park Ave, Richmond, VA, 23220 generates $2,806/mo in rent, after a $3,181/mo payment. Total monthly income is $2,806/mo. Return on cash invested sits at 14% in year one, and rental yield is 5.18% on a $650,000 entry. Equity gained on principal adds $4,194/yr, while 5% annual appreciation builds toward $179,583 over five years. Five-year ROI reaches 70.86% and total cumulative return in cash sums $151,538. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,806/mo property income rather than buyer’s personal income.
Single Family
Built in 1915
1,337 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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