802 Concord AveCharlottesvilleVA22903
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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
Rental property for sale in Charlottesville at 802 Concord Ave, Charlottesville, VA, 22903 priced at $199,000 converts $1,531/mo rent into $341/mo cash flow after a $974/mo obligation. Total monthly income equals $1,531/mo, and annual cash flow totals $4,097/yr on $65,969 invested. Return on cash invested prints 26.12% in year one, and rental yield reads 9.23% against a $199,000 entry. Equity gained on principal adds $1,284/yr, while 5% annual appreciation compiles into $54,980 by year five. Five-year ROI reaches 135.91% and total cumulative return in cash sums $89,658. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,531/mo property income covering a $974/mo payment, not borrower’s personal income.
Condo
Built in 1970
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 22903, Charlottesville, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,943 (100%) |
| Owner Occupied HU | 7,004 (37.0%) |
| Renter Occupied HU | 10,256 (54.1%) |
| Vacant Housing Units | 1,683 ( 8.9%) |
| Median Home Value | $603,432 |
| Average Home Value | $711,730 |
Housing Distribution
Address Breakdown
Residential
18,660
Single Family
13,524
Multi-Family
5,136
Businesses
1,241
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Listed by: LORETTA LARNED • RE/MAX REALTY SPECIALISTS-CHARLOTTESVILLE
Mls Name: CAAR
Mls ID: #672453