7589 Spencer RdGloucester PointVA23062
INVESTMENT ANALYSIS
Investment Verdict
Appreciation Play7589 Spencer Rd, Gloucester Point, VA, 23062 in Gloucester Point is priced for appreciation, not yield. Rental yield 2.46%. At $1,693,530 with a 2.46% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $467,891 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (0.46) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $212,803.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 2.5% | 6.2% |
| Monthly Cash Flow | $(6,648) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $3,475 |
| Total Monthly Debt Service | $9,450 |
| DSCR Ratio | 0.37x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2001
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23062, Gloucester Point, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,360 (100%) |
| Owner Occupied HU | 858 (63.1%) |
| Renter Occupied HU | 380 (27.9%) |
| Vacant Housing Units | 122 ( 9.0%) |
| Median Home Value | $298,985 |
| Average Home Value | $322,809 |
Housing Distribution
Address Breakdown
Residential
1,076
Single Family
1,021
Multi-Family
55
Businesses
82
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
Single Family
Built in 2001
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23062, Gloucester Point, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,360 (100%) |
| Owner Occupied HU | 858 (63.1%) |
| Renter Occupied HU | 380 (27.9%) |
| Vacant Housing Units | 122 ( 9.0%) |
| Median Home Value | $298,985 |
| Average Home Value | $322,809 |
Housing Distribution
Address Breakdown
Residential
1,076
Single Family
1,021
Multi-Family
55
Businesses
82
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Rodney Hockaday • NextHome Coast to Country RE
Mls Name: REIN Inc.
Mls ID: #10604120