616 Leonard AveChesapeakeVA23324
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 616 Leonard Ave, Chesapeake, VA, 23324 offers a 8.21% rental yield on a $350,000 purchase with $2,395/mo rent. Total monthly income registers $2,395/mo, and a $1,713/mo payment leaves $303/mo available for distribution. Annual cash flow reaches $3,634/yr on $116,025 to close, and return on cash invested stands at 23.04% in year one. Equity gained on principal adds $2,258/yr while 5% annual appreciation supports $96,699 over five years. Portfolio math shows five-year ROI at 119.36% and total cumulative return in cash at $138,482. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,395/mo property income against a $1,713/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1957
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Taisha Reid • EXIT Realty Central
Mls Name: REIN Inc.
Mls ID: #10601090