507 N 1st StRichmondVA23219
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderNot flashy, but dependably profitable, 507 N 1st St, Richmond, VA, 23219 in Richmond is listed at $457,400 and delivers $3,157/mo in rent and $252/mo in net monthly cash flow. The 7.98% yield and 1.53 DSCR provide the underwriting comfort Ziffy Mortgage needs to approve a DSCR loan without W-2 or tax-return documentation. Projected 5% annual appreciation adds $126,371 over five years, and $4,213/yr in principal reduction supplements cash return. Total projected cumulative return: $193,866.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 6.5% |
| Monthly Cash Flow | $252 | $450 |
City averages based on Richmond market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,157 |
| Total Monthly Debt Service | $2,658 |
| DSCR Ratio | 1.19x |
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 N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23219, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,932 (100%) |
| Owner Occupied HU | 264 ( 5.4%) |
| Renter Occupied HU | 4,107 (83.3%) |
| Vacant Housing Units | 561 (11.4%) |
| Median Home Value | $402,427 |
| Average Home Value | $389,330 |
Housing Distribution
Address Breakdown
Residential
4,665
Single Family
641
Multi-Family
4,024
Businesses
1,337
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 N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23219, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,932 (100%) |
| Owner Occupied HU | 264 ( 5.4%) |
| Renter Occupied HU | 4,107 (83.3%) |
| Vacant Housing Units | 561 (11.4%) |
| Median Home Value | $402,427 |
| Average Home Value | $389,330 |
Housing Distribution
Address Breakdown
Residential
4,665
Single Family
641
Multi-Family
4,024
Businesses
1,337
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices