23020 Banks RdCape CharlesVA23310
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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 Cape Charles at 23020 Banks Rd, Cape Charles, VA, 23310 listed at $240,000 pairs $2,234/mo rent with a $1,175/mo payment to leave $799/mo cash flow. Total monthly income runs $2,234/mo, and annual cash flow reaches $9,588/yr on $79,560 cash to close. Return on cash invested measures 31.96% in year one, and rental yield registers 11.17% at a $240,000 basis. Equity gained on principal adds $1,549/yr, and annual property appreciation at 5% supports $66,308 by year five. Five-year ROI tracks 167.18% and total cumulative return in cash totals $133,010. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,234/mo property income relative to a $1,175/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1940
0.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23310, Cape Charles, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,801 (100%) |
| Owner Occupied HU | 1,819 (47.9%) |
| Renter Occupied HU | 781 (20.5%) |
| Vacant Housing Units | 1,201 (31.6%) |
| Median Home Value | $378,548 |
| Average Home Value | $468,551 |
Housing Distribution
Address Breakdown
Residential
2,521
Single Family
2,481
Multi-Family
40
Businesses
221
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Listed by: Luisa Gazzolo • CHESAPEAKE PROPERTIES
Mls Name: Eastern Shore AOR
Mls Provider:
Mls ID: #64988
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