450 Patrick AveRichmondVA23222
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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 450 Patrick Ave, Richmond, VA, 23222 offers $2,026/mo rent that, after a $1,493/mo payment, leaves $203/mo cash flow. Total monthly income is $2,026/mo, and annual cash flow is $2,432/yr on $101,091 cash. Return on cash invested measures 22.31% in year one, and rental yield stands at 7.97% at a $304,950 entry. Equity gained on principal adds $1,968/yr while 5% annual appreciation compounds into $84,252 by year five. Five-year ROI records 115.47% and total cumulative return in cash reaches $116,730. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,026/mo property income versus a $1,493/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1925
4,051 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23222, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,389 (100%) |
| Owner Occupied HU | 5,700 (46.0%) |
| Renter Occupied HU | 5,278 (42.6%) |
| Vacant Housing Units | 1,411 (11.4%) |
| Median Home Value | $283,438 |
| Average Home Value | $341,200 |
Housing Distribution
Address Breakdown
Residential
11,351
Single Family
10,018
Multi-Family
1,333
Businesses
504
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