3515 Hanover Ave APT CRichmondVA23221
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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 3515 Hanover Ave APT C, Richmond, VA, 23221 offers a 11.26% rental yield on a $314,900 purchase with $2,956/mo rent. Total monthly income registers $2,956/mo, and a $1,541/mo payment leaves $799/mo available for distribution. Annual cash flow reaches $9,586/yr on $104,389 to close, and return on cash invested stands at 29.09% in year one. Equity gained on principal adds $2,032/yr while 5% annual appreciation supports $87,001 over five years. Portfolio math shows five-year ROI at 152.94% and total cumulative return in cash at $159,658. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,956/mo property income against a $1,541/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1947
2.19 Acres lot
$N/A/sqft
$275 monthly 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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Listed by: Bryson Lefmann • Samson Properties
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2508837
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 2025 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.