3021 Hanover AveRichmondVA23221
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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 3021 Hanover Ave, Richmond, VA, 23221 listed at $600,000 pairs $5,454/mo rent with a $2,937/mo payment to leave $1,867/mo cash flow. Total monthly income runs $5,454/mo, and annual cash flow reaches $22,404/yr on $197,400 cash to close. Return on cash invested measures 31.41% in year one, and rental yield registers 10.91% at a $600,000 basis. Equity gained on principal adds $3,872/yr, and annual property appreciation at 5% supports $165,769 by year five. Five-year ROI tracks 164.19% and total cumulative return in cash totals $324,120. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $5,454/mo property income relative to a $2,937/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Townhouse
Built in 1915
3,280 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23221, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,345 (100%) |
| Owner Occupied HU | 3,976 (47.6%) |
| Renter Occupied HU | 3,922 (47.0%) |
| Vacant Housing Units | 447 ( 5.4%) |
| Median Home Value | $592,338 |
| Average Home Value | $684,208 |
Housing Distribution
Address Breakdown
Residential
7,935
Single Family
5,547
Multi-Family
2,388
Businesses
641
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