2411 Melbourne StRichmondVA23223
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 2411 Melbourne St, Richmond, VA, 23223 generates $1,072/mo in rent and, after a $661/mo payment, leaves $265/mo in cash flow. Total monthly income is $1,072/mo, and annual cash flow is $3,177/yr on $44,753 invested. Return on cash invested sits at 27.01% in year one, and rental yield is 9.53% on a $135,000 entry. Equity gained on principal adds $871/yr, while 5% annual appreciation builds toward $37,298 over five years. Five-year ROI reaches 140.67% and total cumulative return in cash sums $62,953. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,072/mo property income rather than buyer’s personal income.
Single Family
Built in 1905
6,751 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23223, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,758 (100%) |
| Owner Occupied HU | 10,196 (39.6%) |
| Renter Occupied HU | 13,614 (52.9%) |
| Vacant Housing Units | 1,948 ( 7.6%) |
| Median Home Value | $324,118 |
| Average Home Value | $376,819 |
Housing Distribution
Address Breakdown
Residential
26,126
Single Family
20,110
Multi-Family
6,016
Businesses
1,056
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices