228 Luray StChesapeakeVA23323
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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 Chesapeake at 228 Luray St, Chesapeake, VA, 23323 generates $3,140/mo in rent and, after a $2,007/mo payment, leaves $689/mo in cash flow. Total monthly income is $3,140/mo, and annual cash flow is $8,266/yr on $135,915 invested. Return on cash invested sits at 25.99% in year one, and rental yield is 9.19% on a $410,000 entry. Equity gained on principal adds $2,646/yr, while 5% annual appreciation builds toward $113,275 over five years. Five-year ROI reaches 135.17% and total cumulative return in cash sums $183,719. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,140/mo property income rather than buyer’s personal income.
Single Family
Built in 1978
1.20 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23323, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,889 (100%) |
| Owner Occupied HU | 12,433 (78.2%) |
| Renter Occupied HU | 3,048 (19.2%) |
| Vacant Housing Units | 408 ( 2.6%) |
| Median Home Value | $438,684 |
| Average Home Value | $459,798 |
Housing Distribution
Address Breakdown
Residential
15,831
Single Family
15,399
Multi-Family
432
Businesses
845
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Listed by: Heather Howard • Howard Hanna Real Estate Svcs.
Mls Name: REIN Inc.
Mls ID: #10599491