505 Summit Ridge DrChesapeakeVA23322
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 505 Summit Ridge Dr, Chesapeake, VA, 23322 generates $3,091/mo in rent and, after a $2,398/mo payment, leaves $162/mo in cash flow. Total monthly income is $3,091/mo, and annual cash flow is $1,947/yr on $162,402 invested. Return on cash invested sits at 21.11% in year one, and rental yield is 7.57% on a $489,900 entry. Equity gained on principal adds $3,161/yr, while 5% annual appreciation builds toward $135,350 over five years. Five-year ROI reaches 109.01% and total cumulative return in cash sums $177,029. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,091/mo property income rather than buyer’s personal income.
Single Family
Built in 1966
0.40 Acres 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: Robin Gauthier • NextHome Tidewater Realty
Mls Name: REIN Inc.
Mls ID: #10611187