650 Ridge CirChesapeakeVA23320
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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 650 Ridge Cir, Chesapeake, VA, 23320 uses $77,737 cash to close to unlock $9,000/yr annual cash flow and $750/mo monthly cash flow. Total monthly income runs $2,152/mo, and a $1,148/mo payment keeps the spread at $750/mo. Purchase price stands at $234,500, and rental yield measures 11.01% with $2,152/mo rent. Return on cash invested shows 31.49% in year one, and 5% annual appreciation builds toward $64,788 over five years. Five-year ROI reaches 164.62% and total cumulative return in cash records $127,972. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,152/mo property income covering a $1,148/mo payment rather than investor’s personal income.
Condo
Built in 1987
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: Terry Smith • BHHS RW Towne Realty
Mls Name: REIN Inc.
Mls ID: #10593323