503 E Lake CirChesapeakeVA23322
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
Investment Highlights
Rental property for sale in Chesapeake at 503 E Lake Cir, Chesapeake, VA, 23322 priced at $265,000 pairs $2,264/mo rent with $680/mo cash flow after a $1,297/mo payment. Total monthly income equals $2,264/mo, and annual cash flow comes to $8,159/yr on $87,848 invested. Return on cash invested is 29.2% in year one, and rental yield stands at 10.25% on a $265,000 basis. Equity gained on principal adds $1,710/yr, and 5% annual appreciation accumulates to $73,215 by year five. Five-year ROI measures 152.35% and total cumulative return in cash reaches $133,839. For financing, Ziffy Mortgage’s DSCR program evaluates $2,264/mo property income against a $1,297/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 1987
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23322, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,832 (100%) |
| Owner Occupied HU | 19,301 (84.5%) |
| Renter Occupied HU | 3,054 (13.4%) |
| Vacant Housing Units | 477 ( 2.1%) |
| Median Home Value | $510,303 |
| Average Home Value | $550,245 |
Housing Distribution
Address Breakdown
Residential
23,013
Single Family
22,470
Multi-Family
543
Businesses
841
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Emily Cockrell • Lee S Halyard & Assoc Realtor
Mls Name: REIN Inc.
Mls ID: #10594349