241 N Hill LnChesapeakeVA23322
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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 241 N Hill Ln, Chesapeake, VA, 23322 offers $2,450/mo rent that, after a $1,463/mo payment, leaves $663/mo cash flow. Total monthly income is $2,450/mo, and annual cash flow is $7,957/yr on $99,119 cash. Return on cash invested measures 27.94% in year one, and rental yield stands at 9.83% at a $299,000 entry. Equity gained on principal adds $1,929/yr while 5% annual appreciation compounds into $82,608 by year five. Five-year ROI records 145.65% and total cumulative return in cash reaches $144,370. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,450/mo property income versus a $1,463/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1995
1,306 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23322, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,832 (100%) |
| Owner Occupied HU | 19,301 (84.5%) |
| Renter Occupied HU | 3,054 (13.4%) |
| Vacant Housing Units | 477 ( 2.1%) |
| Median Home Value | $510,303 |
| Average Home Value | $550,245 |
Housing Distribution
Address Breakdown
Residential
23,013
Single Family
22,470
Multi-Family
543
Businesses
841
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Listed by: David Allison • Atlantic Sothebys Int'l Realty
Mls Name: REIN Inc.
Mls ID: #10592017