7622 E Side RdChincoteague IslandVA23336
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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 Island at 7622 E Side Rd, Chincoteague Island, VA, 23336 listed at $399,500 pairs $2,400/mo rent with a $1,955/mo payment to leave $12/mo cash flow. Total monthly income runs $2,400/mo, and annual cash flow reaches $147/yr on $132,434 cash to close. Return on cash invested measures 20.02% in year one, and rental yield registers 7.21% at a $399,500 basis. Equity gained on principal adds $2,578/yr, and annual property appreciation at 5% supports $110,374 by year five. Five-year ROI tracks 103.18% and total cumulative return in cash totals $136,647. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,400/mo property income relative to a $1,955/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1995
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
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Listed by: Angie Conklin Abell • BEACH BAY REALTY, LLC
Mls Name: Eastern Shore AOR
Mls Provider:
Mls ID: #63715
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.