502 Spinnaker RdNewport NewsVA23602
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 502 Spinnaker Rd, Newport News, VA, 23602 in Newport News at $535,000 earns $3,344/mo in rent and nets $146/mo after the $2,406/mo payment, a 7.5% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $147,811 over five years. Ziffy Mortgage underwrites this on a 1.39 DSCR without U.S. credit history. With $4,927/yr in principal paydown, total projected return reaches $211,764.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.5% | 6.2% |
| Monthly Cash Flow | $146 | $450 |
City averages based on Newport News market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $3,344 |
| Total Monthly Debt Service | $2,985 |
| DSCR Ratio | 1.12x |
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.
Single Family
Built in 1965
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23602, Newport News, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,910 (100%) |
| Owner Occupied HU | 9,840 (52.0%) |
| Renter Occupied HU | 8,023 (42.4%) |
| Vacant Housing Units | 1,047 ( 5.5%) |
| Median Home Value | $321,359 |
| Average Home Value | $321,915 |
Housing Distribution
Address Breakdown
Residential
18,280
Single Family
16,019
Multi-Family
2,261
Businesses
939
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
Single Family
Built in 1965
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23602, Newport News, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,910 (100%) |
| Owner Occupied HU | 9,840 (52.0%) |
| Renter Occupied HU | 8,023 (42.4%) |
| Vacant Housing Units | 1,047 ( 5.5%) |
| Median Home Value | $321,359 |
| Average Home Value | $321,915 |
Housing Distribution
Address Breakdown
Residential
18,280
Single Family
16,019
Multi-Family
2,261
Businesses
939
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Vic Cabassa • Long & Foster Real Estate Inc.
Mls Name: REIN Inc.
Mls ID: #10616530