3516 E Richmond Rd #U20RichmondVA23223
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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 Richmond at 3516 E Richmond Rd #U20, Richmond, VA, 23223 generates $977/mo in rent and, after a $621/mo payment, leaves $97/mo in cash flow. Total monthly income is $977/mo, and annual cash flow is $1,158/yr on $42,067 invested. Return on cash invested sits at 22.66% in year one, and rental yield is 9.24% on a $126,900 entry. Equity gained on principal adds $819/yr, while 5% annual appreciation builds toward $35,060 over five years. Five-year ROI reaches 118.64% and total cumulative return in cash sums $49,909. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $977/mo property income rather than buyer’s personal income.
Condo
Built in 1966
740.52 sqft lot
$N/A/sqft
$122 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23223, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,758 (100%) |
| Owner Occupied HU | 10,196 (39.6%) |
| Renter Occupied HU | 13,614 (52.9%) |
| Vacant Housing Units | 1,948 ( 7.6%) |
| Median Home Value | $324,118 |
| Average Home Value | $376,819 |
Housing Distribution
Address Breakdown
Residential
26,126
Single Family
20,110
Multi-Family
6,016
Businesses
1,056
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Listed by: Beth Goldsmith • Long & Foster REALTORS
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2426158
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.