3518 E Richmond Rd #U11RichmondVA23223
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 3518 E Richmond Rd #U11, Richmond, VA, 23223 in Richmond hard to pass up. The 13.61% gross yield on a $126,500 purchase results in $1,435/mo in rent and $552/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.52). Annual cash flow of $6,628, five-year appreciation of $34,950, and $1,165/yr in equity build-up combine for a projected total cumulative return of $83,959.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.6% | 6.5% |
| Monthly Cash Flow | $552 | $450 |
City averages based on Richmond market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,435 |
| Total Monthly Debt Service | $833 |
| DSCR Ratio | 1.72x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Condo
Built in 1966
741 sqft lot
$N/A/sqft
$121 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
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
Condo
Built in 1966
741 sqft lot
$N/A/sqft
$121 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices