7216 Oak Ridge PlChincoteagueVA23336
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
Rental property for sale in Chincoteague at 7216 Oak Ridge Pl, Chincoteague, VA, 23336 generates $2,400/mo in rent and, after a $1,468/mo payment, leaves $607/mo in cash flow. Total monthly income is $2,400/mo, and annual cash flow is $7,285/yr on $99,417 invested. Return on cash invested sits at 27.24% in year one, and rental yield is 9.6% on a $299,900 entry. Equity gained on principal adds $1,935/yr, while 5% annual appreciation builds toward $82,857 over five years. Five-year ROI reaches 141.9% and total cumulative return in cash sums $141,076. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,400/mo property income rather than buyer’s personal income.
Townhouse
Built in 1984
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Bill Baals • DOCKSIDE PROPERTIES
Mls Name: Eastern Shore AOR
Mls ID: #65568