38 Main StWachapreagueVA23480
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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
Investment Highlights
Investment property for sale in Wachapreague at 38 Main St, Wachapreague, VA, 23480 uses $99,284 cash to close to unlock $2,946/yr annual cash flow and $246/mo monthly cash flow. Total monthly income runs $2,036/mo, and a $1,466/mo payment keeps the spread at $246/mo. Purchase price stands at $299,500, and rental yield measures 8.16% with $2,036/mo rent. Return on cash invested shows 22.88% in year one, and 5% annual appreciation builds toward $82,746 over five years. Five-year ROI reaches 118.48% and total cumulative return in cash records $117,635. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,036/mo property income covering a $1,466/mo payment rather than investor’s personal income.
Single Family
Built in 1940
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23480, Wachapreague, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 129 (100%) |
| Owner Occupied HU | 58 (45.0%) |
| Renter Occupied HU | 22 (17.1%) |
| Vacant Housing Units | 49 (38.0%) |
| Median Home Value | $230,000 |
| Average Home Value | $205,603 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
18
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Listed by: Cathy Kababick • COLDWELL BANKER HARBOUR REALTY
Mls Name: Eastern Shore AOR
Mls ID: #64887