602 Lake Ridge PlVirginia BeachVA23452
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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 Virginia Beach at 602 Lake Ridge Pl, Virginia Beach, VA, 23452 priced at $299,000 pairs $2,240/mo rent with $453/mo cash flow after a $1,463/mo payment. Total monthly income equals $2,240/mo, and annual cash flow comes to $5,437/yr on $99,119 invested. Return on cash invested is 25.39% in year one, and rental yield stands at 8.99% on a $299,000 basis. Equity gained on principal adds $1,929/yr, and 5% annual appreciation accumulates to $82,608 by year five. Five-year ROI measures 132.02% and total cumulative return in cash reaches $130,858. For financing, Ziffy Mortgage’s DSCR program evaluates $2,240/mo property income against a $1,463/mo payment instead of your W2s, 1099s, or Tax returns.
Townhouse
Built in 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23452, Virginia Beach, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,682 (100%) |
| Owner Occupied HU | 14,536 (61.4%) |
| Renter Occupied HU | 8,344 (35.2%) |
| Vacant Housing Units | 802 ( 3.4%) |
| Median Home Value | $388,463 |
| Average Home Value | $528,188 |
Housing Distribution
Address Breakdown
Residential
23,604
Single Family
20,038
Multi-Family
3,566
Businesses
2,560
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Listed by: Earl Sanders • Earl Sanders Realty Inc
Mls Name: REIN Inc.
Mls ID: #10594469