2705 Hanover Ave #U10RichmondVA23220
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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 Richmond at 2705 Hanover Ave #U10, Richmond, VA, 23220 uses $102,765 cash to close to unlock $1,910/yr annual cash flow and $159/mo monthly cash flow. Total monthly income runs $2,012/mo, and a $1,517/mo payment keeps the spread at $159/mo. Purchase price stands at $310,000, and rental yield measures 7.79% with $2,012/mo rent. Return on cash invested shows 21.77% in year one, and 5% annual appreciation builds toward $85,647 over five years. Five-year ROI reaches 112.56% and total cumulative return in cash records $115,675. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,012/mo property income covering a $1,517/mo payment rather than investor’s personal income.
Condo
Built in 1928
7,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23220, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,204 (100%) |
| Owner Occupied HU | 4,744 (24.7%) |
| Renter Occupied HU | 12,895 (67.1%) |
| Vacant Housing Units | 1,565 ( 8.1%) |
| Median Home Value | $514,099 |
| Average Home Value | $600,389 |
Housing Distribution
Address Breakdown
Residential
19,181
Single Family
10,606
Multi-Family
8,575
Businesses
1,372
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