6135 Martin LnChincoteague IslandVA23336
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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 Chincoteague Island at 6135 Martin Ln, Chincoteague Island, VA, 23336 uses $112,379 cash to close to unlock $4,485/yr annual cash flow and $374/mo monthly cash flow. Total monthly income runs $2,400/mo, and a $1,659/mo payment keeps the spread at $374/mo. Purchase price stands at $339,000, and rental yield measures 8.5% with $2,400/mo rent. Return on cash invested shows 23.9% in year one, and 5% annual appreciation builds toward $93,659 over five years. Five-year ROI reaches 123.97% and total cumulative return in cash records $139,312. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,400/mo property income covering a $1,659/mo payment rather than investor’s personal income.
Multi Family
Built in 1990
9,148 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23336, Chincoteague Island, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,287 (100%) |
| Owner Occupied HU | 1,250 (29.2%) |
| Renter Occupied HU | 409 ( 9.5%) |
| Vacant Housing Units | 2,628 (61.3%) |
| Median Home Value | $365,359 |
| Average Home Value | $380,074 |
Housing Distribution
Address Breakdown
Residential
2,439
Single Family
2,415
Multi-Family
24
Businesses
307
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Listed by: Meghan Oliver Clarkson • Long & Foster - Main St
Mls Name: Eastern Shore AOR
Mls ID: #65384