524A Washington AveCape CharlesVA23310
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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 Cape Charles at 524A Washington Ave, Cape Charles, VA, 23310 generates $2,160/mo in rent, after a $1,904/mo payment. Total monthly income is $2,160/mo. Return on cash invested sits at 18.37% in year one, and rental yield is 6.66% on a $389,000 entry. Equity gained on principal adds $2,510/yr, while 5% annual appreciation builds toward $107,474 over five years. Five-year ROI reaches 94.33% and total cumulative return in cash sums $121,638. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,160/mo property income rather than buyer’s personal income.
Condo
Built in 2003
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23310, Cape Charles, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,801 (100%) |
| Owner Occupied HU | 1,819 (47.9%) |
| Renter Occupied HU | 781 (20.5%) |
| Vacant Housing Units | 1,201 (31.6%) |
| Median Home Value | $378,548 |
| Average Home Value | $468,551 |
Housing Distribution
Address Breakdown
Residential
2,521
Single Family
2,481
Multi-Family
40
Businesses
221
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Listed by: Betty Ann Latimer, Gri, Abr • Coastal Shore Real Estate - Cape Charles
Mls Name: Eastern Shore AOR
Mls Provider:
Mls ID: #64790
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.