5506 Millstream LnHenricoVA23228
INVESTMENT ANALYSIS
Investment Verdict
Solid Income5506 Millstream Ln, Henrico, VA, 23228 in Henrico is a solid income-producing rental, 9.62% gross yield, $2,284/mo rent, $395/mo net cash flow on a $285,000 buy. DSCR 1.78 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $78,740 and $2,625/yr in principal reduction project a total cumulative return of $134,063.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 5.5% |
| Monthly Cash Flow | $395 | $300 |
City averages based on Henrico market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,284 |
| Total Monthly Debt Service | $1,775 |
| DSCR Ratio | 1.29x |
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.
Townhouse
Built in 2003
1,742 sqft lot
$N/A/sqft
$185 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23228, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,144 (100%) |
| Owner Occupied HU | 8,248 (48.1%) |
| Renter Occupied HU | 7,692 (44.9%) |
| Vacant Housing Units | 1,204 ( 7.0%) |
| Median Home Value | $332,455 |
| Average Home Value | $374,834 |
Housing Distribution
Address Breakdown
Residential
16,712
Single Family
13,678
Multi-Family
3,034
Businesses
1,377
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
Townhouse
Built in 2003
1,742 sqft lot
$N/A/sqft
$185 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23228, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,144 (100%) |
| Owner Occupied HU | 8,248 (48.1%) |
| Renter Occupied HU | 7,692 (44.9%) |
| Vacant Housing Units | 1,204 ( 7.0%) |
| Median Home Value | $332,455 |
| Average Home Value | $374,834 |
Housing Distribution
Address Breakdown
Residential
16,712
Single Family
13,678
Multi-Family
3,034
Businesses
1,377
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tricia Childress • Signature Properties
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2423784
Disclaimer: All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are 2023 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.