7505 River Rd APT 3CNewport NewsVA23607
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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
Total monthly income runs $1,142/mo, and a $1,052/mo payment. Purchase price stands at $215,000, and rental yield measures 6.37% with $1,142/mo rent. Return on cash invested shows 17.5% in year one, and 5% annual appreciation builds toward $59,401 over five years. Five-year ROI reaches 89.71% and total cumulative return in cash records $63,937. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,142/mo property income covering a $1,052/mo payment rather than investor’s personal income.
Condo
Built in 1990
2,178 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23607, Newport News, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,681 (100%) |
| Owner Occupied HU | 3,309 (31.0%) |
| Renter Occupied HU | 6,100 (57.1%) |
| Vacant Housing Units | 1,272 (11.9%) |
| Median Home Value | $182,143 |
| Average Home Value | $250,441 |
Housing Distribution
Address Breakdown
Residential
10,009
Single Family
8,603
Multi-Family
1,406
Businesses
701
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Listed by: Jeffrey Parrish • Boardwalk Realty
Mls Name: REIN Inc.
Mls ID: #10592697