5352 Merritt DrChincoteagueVA23336
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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
Investment property for sale in Chincoteague at 5352 Merritt Dr, Chincoteague, VA, 23336 earns $261/mo cash flow from $1,217/mo rent with a $783/mo payment. Total monthly income totals $1,217/mo, and annual cash flow totals $3,128/yr on $53,040 capital. ROI tracks 25.81% on current figures, and rental yield reads 9.13% at a $160,000 purchase. Equity gained on principal adds $1,032/yr, and 5% annual appreciation supports $44,205 over five years. Five-year ROI reaches 134.23% and total cumulative return in cash sums $71,198. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,217/mo property income instead of your personal income.
Manufactured
Built in 1973
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23336, Chincoteague Island, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,287 (100%) |
| Owner Occupied HU | 1,250 (29.2%) |
| Renter Occupied HU | 409 ( 9.5%) |
| Vacant Housing Units | 2,628 (61.3%) |
| Median Home Value | $365,359 |
| Average Home Value | $380,074 |
Housing Distribution
Address Breakdown
Residential
2,439
Single Family
2,415
Multi-Family
24
Businesses
307
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Listed by: Shawn Jennings, Abr, Asp • COLDWELL BANKER HARBOUR REALTY
Mls Name: Eastern Shore AOR
Mls ID: #65694