306 Phillips AvePortsmouthVA23707
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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 Portsmouth at 306 Phillips Ave, Portsmouth, VA, 23707 offers $2,252/mo rent that, after a $1,415/mo payment, leaves $524/mo cash flow. Total monthly income is $2,252/mo, and annual cash flow is $6,287/yr on $95,804 cash. Return on cash invested measures 26.47% in year one, and rental yield stands at 9.35% at a $289,000 entry. Equity gained on principal adds $1,865/yr while 5% annual appreciation compounds into $79,845 by year five. Five-year ROI records 137.75% and total cumulative return in cash reaches $131,966. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,252/mo property income versus a $1,415/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1952
5,227 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: Debbie Crevier-Kent • Cottage Street Realty LLC
Mls Name: REIN Inc.
Mls ID: #10614796