23 W Lake Forest DrPalmyraVA22963
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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 Palmyra at 23 W Lake Forest Dr, Palmyra, VA, 22963 priced at $235,000 converts $1,921/mo rent into $413/mo cash flow after a $1,150/mo obligation. Total monthly income equals $1,921/mo, and annual cash flow totals $4,959/yr on $77,903 invested. Return on cash invested prints 26.27% in year one, and rental yield reads 9.81% against a $235,000 entry. Equity gained on principal adds $1,516/yr, while 5% annual appreciation compiles into $64,926 by year five. Five-year ROI reaches 137.32% and total cumulative return in cash sums $106,972. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,921/mo property income covering a $1,150/mo payment, not borrower’s personal income.
Single Family
Built in 1989
0.39 Acres lot
$N/A/sqft
$1,238 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 22963, Palmyra, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,330 (100%) |
| Owner Occupied HU | 6,070 (82.8%) |
| Renter Occupied HU | 755 (10.3%) |
| Vacant Housing Units | 505 ( 6.9%) |
| Median Home Value | $328,349 |
| Average Home Value | $376,623 |
Housing Distribution
Address Breakdown
Residential
7,189
Single Family
7,179
Multi-Family
10
Businesses
227
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Listed by: Crystal Scott • KW Capital Properties
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2512346
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.