605 Spring St APT PRichmondVA23220
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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 Richmond at 605 Spring St APT P, Richmond, VA, 23220 priced at $417,000 pairs $3,134/mo rent with $641/mo cash flow after a $2,041/mo payment. Total monthly income equals $3,134/mo, and annual cash flow comes to $7,695/yr on $138,236 invested. Return on cash invested is 25.48% in year one, and rental yield stands at 9.02% on a $417,000 basis. Equity gained on principal adds $2,691/yr, and 5% annual appreciation accumulates to $115,209 by year five. Five-year ROI measures 132.44% and total cumulative return in cash reaches $183,073. For financing, Ziffy Mortgage’s DSCR program evaluates $3,134/mo property income against a $2,041/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 2003
653.40 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23220, Richmond, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,204 (100%) |
| Owner Occupied HU | 4,744 (24.7%) |
| Renter Occupied HU | 12,895 (67.1%) |
| Vacant Housing Units | 1,565 ( 8.1%) |
| Median Home Value | $514,099 |
| Average Home Value | $600,389 |
Housing Distribution
Address Breakdown
Residential
19,181
Single Family
10,606
Multi-Family
8,575
Businesses
1,372
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