624 Luray TerChesapeakeVA23322
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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 Chesapeake at 624 Luray Ter, Chesapeake, VA, 23322 uses $162,402 cash to close to unlock $2,643/yr annual cash flow and $220/mo monthly cash flow. Total monthly income runs $3,149/mo, and a $2,398/mo payment keeps the spread at $220/mo. Purchase price stands at $489,900, and rental yield measures 7.71% with $3,149/mo rent. Return on cash invested shows 21.54% in year one, and 5% annual appreciation builds toward $135,350 over five years. Five-year ROI reaches 111.3% and total cumulative return in cash records $180,761. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,149/mo property income covering a $2,398/mo payment rather than investor’s personal income.
Single Family
Built in 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23322, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,832 (100%) |
| Owner Occupied HU | 19,301 (84.5%) |
| Renter Occupied HU | 3,054 (13.4%) |
| Vacant Housing Units | 477 ( 2.1%) |
| Median Home Value | $510,303 |
| Average Home Value | $550,245 |
Housing Distribution
Address Breakdown
Residential
23,013
Single Family
22,470
Multi-Family
543
Businesses
841
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Listed by: Kim Stanley • GreenTree Realty Inc
Mls Name: REIN Inc.
Mls ID: #10611627