407 Kings GateChesapeakeVA23320
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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 Chesapeake at 407 Kings Gate, Chesapeake, VA, 23320 priced at $395,000 converts $3,014/mo rent into $653/mo cash flow after a $1,933/mo obligation. Total monthly income equals $3,014/mo, and annual cash flow totals $7,837/yr on $130,943 invested. Return on cash invested prints 25.89% in year one, and rental yield reads 9.16% against a $395,000 entry. Equity gained on principal adds $2,549/yr, while 5% annual appreciation compiles into $109,131 by year five. Five-year ROI reaches 134.69% and total cumulative return in cash sums $176,370. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,014/mo property income covering a $1,933/mo payment, not borrower’s personal income.
Condo
Built in 1999
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23320, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,228 (100%) |
| Owner Occupied HU | 16,419 (60.3%) |
| Renter Occupied HU | 9,921 (36.4%) |
| Vacant Housing Units | 888 ( 3.3%) |
| Median Home Value | $404,246 |
| Average Home Value | $433,358 |
Housing Distribution
Address Breakdown
Residential
26,352
Single Family
23,973
Multi-Family
2,379
Businesses
2,648
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Listed by: Kristyn Michael • Real Broker LLC
Mls Name: REIN Inc.
Mls ID: #10593295