3402 2nd AveRichmondVA23222
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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 3402 2nd Ave, Richmond, VA, 23222 uses $107,738 cash to close to unlock $4,415/yr annual cash flow and $368/mo monthly cash flow. Total monthly income runs $2,311/mo, and a $1,591/mo payment keeps the spread at $368/mo. Purchase price stands at $325,000, and rental yield measures 8.53% with $2,311/mo rent. Return on cash invested shows 24.01% in year one, and 5% annual appreciation builds toward $89,792 over five years. Five-year ROI reaches 124.54% and total cumulative return in cash records $134,173. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,311/mo property income covering a $1,591/mo payment rather than investor’s personal income.
Single Family
Built in 1920
4,900 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23222, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,389 (100%) |
| Owner Occupied HU | 5,700 (46.0%) |
| Renter Occupied HU | 5,278 (42.6%) |
| Vacant Housing Units | 1,411 (11.4%) |
| Median Home Value | $283,438 |
| Average Home Value | $341,200 |
Housing Distribution
Address Breakdown
Residential
11,351
Single Family
10,018
Multi-Family
1,333
Businesses
504
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