289 Choate StPortsmouthVA23707
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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 Portsmouth at 289 Choate St, Portsmouth, VA, 23707 offers a 8.01% rental yield on a $208,000 purchase with $1,388/mo rent. Total monthly income registers $1,388/mo, and a $1,018/mo payment leaves $145/mo available for distribution. Annual cash flow reaches $1,736/yr on $68,952 to close, and return on cash invested stands at 22.43% in year one. Equity gained on principal adds $1,342/yr while 5% annual appreciation supports $57,467 over five years. Portfolio math shows five-year ROI at 116.1% and total cumulative return in cash at $80,052. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,388/mo property income against a $1,018/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1942
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23707, Portsmouth, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,731 (100%) |
| Owner Occupied HU | 3,208 (47.7%) |
| Renter Occupied HU | 2,820 (41.9%) |
| Vacant Housing Units | 703 (10.4%) |
| Median Home Value | $254,667 |
| Average Home Value | $280,450 |
Housing Distribution
Address Breakdown
Residential
6,476
Single Family
5,962
Multi-Family
514
Businesses
555
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Listed by: Diane Rigsby • COVA Home Realty
Mls Name: REIN Inc.
Mls ID: #10606783