614 Ray AveChesapeakeVA23320
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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 614 Ray Ave, Chesapeake, VA, 23320 offers $3,360/mo rent that, after a $1,982/mo payment, leaves $939/mo cash flow. Total monthly income is $3,360/mo, and annual cash flow is $11,271/yr on $134,258 cash. Return on cash invested measures 28.3% in year one, and rental yield stands at 9.96% at a $405,000 entry. Equity gained on principal adds $2,613/yr while 5% annual appreciation compounds into $111,894 by year five. Five-year ROI records 147.6% and total cumulative return in cash reaches $198,170. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,360/mo property income versus a $1,982/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2002
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23320, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,228 (100%) |
| Owner Occupied HU | 16,419 (60.3%) |
| Renter Occupied HU | 9,921 (36.4%) |
| Vacant Housing Units | 888 ( 3.3%) |
| Median Home Value | $404,246 |
| Average Home Value | $433,358 |
Housing Distribution
Address Breakdown
Residential
26,352
Single Family
23,973
Multi-Family
2,379
Businesses
2,648
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Listed by: Tyler Krauss • COVA Home Realty
Mls Name: REIN Inc.
Mls ID: #10596605