602 Reunion StChesapeakeVA23324
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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 Chesapeake at 602 Reunion St, Chesapeake, VA, 23324 uses $107,738 cash to close to unlock $6,275/yr annual cash flow and $523/mo monthly cash flow. Total monthly income runs $2,466/mo, and a $1,591/mo payment keeps the spread at $523/mo. Purchase price stands at $325,000, and rental yield measures 9.11% with $2,466/mo rent. Return on cash invested shows 25.73% in year one, and 5% annual appreciation builds toward $89,792 over five years. Five-year ROI reaches 133.79% and total cumulative return in cash records $144,145. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,466/mo property income covering a $1,591/mo payment rather than investor’s personal income.
Condo
Built in 2015
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23324, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,683 (100%) |
| Owner Occupied HU | 5,387 (50.4%) |
| Renter Occupied HU | 4,662 (43.6%) |
| Vacant Housing Units | 634 ( 5.9%) |
| Median Home Value | $270,429 |
| Average Home Value | $314,214 |
Housing Distribution
Address Breakdown
Residential
9,692
Single Family
9,482
Multi-Family
210
Businesses
594
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Listed by: Kara Evalenko • Real Broker LLC
Mls Name: REIN Inc.
Mls ID: #10609018