3201 Grove AveRichmondVA23221
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestment property for sale in Richmond at 3201 Grove Ave, Richmond, VA, 23221 projects strong ROI of 11.87%. Rental yield 4.13%. With 5% annual appreciation, the property builds $606,438 in value over five years. Equity growth combined delivers a projected five-year ROI of 76.11%, translating into $471,925 in total cumulative return on $620,088 invested capital. You can finance this property with Ziffy Mortgage’s DSCR loan, which leverages the property’s income for qualification rather than your personal income.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.1% | 6.5% |
| Monthly Cash Flow | $(5,570) | $450 |
City averages based on Richmond market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $7,552 |
| Total Monthly Debt Service | $12,248 |
| DSCR Ratio | 0.62x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1913
10,798 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
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
Single Family
Built in 1913
10,798 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Marianne Donahue • Long & Foster REALTORS
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2424518
Disclaimer: All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are 2023 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.