2307 Wright AveRichmondVA23224
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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 2307 Wright Ave, Richmond, VA, 23224 generates $1,864/mo in rent and, after a $1,101/mo payment, leaves $519/mo in cash flow. Total monthly income is $1,864/mo, and annual cash flow is $6,231/yr on $74,588 invested. Return on cash invested sits at 28.26% in year one, and rental yield is 9.94% on a $225,000 entry. Equity gained on principal adds $1,452/yr, while 5% annual appreciation builds toward $62,163 over five years. Five-year ROI reaches 147.41% and total cumulative return in cash sums $109,953. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,864/mo property income rather than buyer’s personal income.
Single Family
Built in 1928
6,838 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23224, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,732 (100%) |
| Owner Occupied HU | 5,371 (27.2%) |
| Renter Occupied HU | 12,527 (63.5%) |
| Vacant Housing Units | 1,834 ( 9.3%) |
| Median Home Value | $217,533 |
| Average Home Value | $299,484 |
Housing Distribution
Address Breakdown
Residential
19,419
Single Family
14,615
Multi-Family
4,804
Businesses
1,358
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