613 Erin LnChesapeakeVA23323
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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 Chesapeake at 613 Erin Ln, Chesapeake, VA, 23323 generates $3,469/mo in rent and, after a $2,447/mo payment, leaves $480/mo in cash flow. Total monthly income is $3,469/mo, and annual cash flow is $5,765/yr on $165,717 invested. Return on cash invested sits at 23.39% in year one, and rental yield is 8.33% on a $499,900 entry. Equity gained on principal adds $3,226/yr, while 5% annual appreciation builds toward $138,113 over five years. Five-year ROI reaches 121.23% and total cumulative return in cash sums $200,892. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,469/mo property income rather than buyer’s personal income.
Single Family
Built in 2001
0.35 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23323, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,889 (100%) |
| Owner Occupied HU | 12,433 (78.2%) |
| Renter Occupied HU | 3,048 (19.2%) |
| Vacant Housing Units | 408 ( 2.6%) |
| Median Home Value | $438,684 |
| Average Home Value | $459,798 |
Housing Distribution
Address Breakdown
Residential
15,831
Single Family
15,399
Multi-Family
432
Businesses
845
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Listed by: Matthew Gifford • The Hogan Group Real Estate
Mls Name: REIN Inc.
Mls ID: #10617200