408 Chowan PlNewport NewsVA23608
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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 Newport News at 408 Chowan Pl, Newport News, VA, 23608 uses $87,848 cash to close to unlock $5,015/yr annual cash flow and $418/mo monthly cash flow. Total monthly income runs $2,002/mo, and a $1,297/mo payment keeps the spread at $418/mo. Purchase price stands at $265,000, and rental yield measures 9.07% with $2,002/mo rent. Return on cash invested shows 25.62% in year one, and 5% annual appreciation builds toward $73,215 over five years. Five-year ROI reaches 133.18% and total cumulative return in cash records $116,991. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,002/mo property income covering a $1,297/mo payment rather than investor’s personal income.
Single Family
Built in 1978
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23608, Newport News, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,508 (100%) |
| Owner Occupied HU | 9,411 (50.8%) |
| Renter Occupied HU | 7,799 (42.1%) |
| Vacant Housing Units | 1,298 ( 7.0%) |
| Median Home Value | $288,048 |
| Average Home Value | $288,522 |
Housing Distribution
Address Breakdown
Residential
18,806
Single Family
16,591
Multi-Family
2,215
Businesses
762
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Listed by: Catherine Saccone • Virginia 1st Realty Group LLC
Mls Name: REIN Inc.
Mls ID: #10606767