3250 Colona StChincoteagueVA23336
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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 Chincoteague at 3250 Colona St, Chincoteague, VA, 23336 priced at $353,000 converts $2,400/mo rent into $290/mo cash flow after a $1,728/mo obligation. Total monthly income equals $2,400/mo, and annual cash flow totals $3,475/yr on $117,020 invested. Return on cash invested prints 22.88% in year one, and rental yield reads 8.16% against a $353,000 entry. Equity gained on principal adds $2,278/yr, while 5% annual appreciation compiles into $97,527 by year five. Five-year ROI reaches 118.5% and total cumulative return in cash sums $138,668. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,400/mo property income covering a $1,728/mo payment, not borrower’s personal income.
Single Family
Built in 1935
0.66 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23336, Chincoteague Island, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,287 (100%) |
| Owner Occupied HU | 1,250 (29.2%) |
| Renter Occupied HU | 409 ( 9.5%) |
| Vacant Housing Units | 2,628 (61.3%) |
| Median Home Value | $365,359 |
| Average Home Value | $380,074 |
Housing Distribution
Address Breakdown
Residential
2,439
Single Family
2,415
Multi-Family
24
Businesses
307
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Listed by: America Pace • DOCKSIDE PROPERTIES
Mls Name: Eastern Shore AOR
Mls Provider:
Mls ID: #64554
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.