7363 Andrews LnChincoteagueVA23336
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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 Chincoteague at 7363 Andrews Ln, Chincoteague, VA, 23336 offers a 7.2% rental yield on a $275,000 purchase with $1,650/mo rent. Total monthly income registers $1,650/mo, and a $1,346/mo payment leaves $6/mo available for distribution. Annual cash flow reaches $73/yr on $91,163 to close, and return on cash invested stands at 19.99% in year one. Equity gained on principal adds $1,775/yr while 5% annual appreciation supports $75,977 over five years. Portfolio math shows five-year ROI at 103.04% and total cumulative return in cash at $93,935. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,650/mo property income against a $1,346/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
3,912 sqft 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
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Listed by: Meghan Oliver Clarkson • Long & Foster - Main St
Mls Name: Eastern Shore AOR
Mls ID: #65433