818 Miller Creek LnNewport NewsVA23602
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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 Newport News at 818 Miller Creek Ln, Newport News, VA, 23602 priced at $260,000 converts $2,531/mo rent into $976/mo cash flow after a $1,273/mo obligation. Total monthly income equals $2,531/mo, and annual cash flow totals $11,716/yr on $86,190 invested. Return on cash invested prints 33.5% in year one, and rental yield reads 11.68% against a $260,000 entry. Equity gained on principal adds $1,678/yr, while 5% annual appreciation compiles into $71,833 by year five. Five-year ROI reaches 175.49% and total cumulative return in cash sums $151,253. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,531/mo property income covering a $1,273/mo payment, not borrower’s personal income.
Condo
Built in 1999
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23602, Newport News, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,910 (100%) |
| Owner Occupied HU | 9,840 (52.0%) |
| Renter Occupied HU | 8,023 (42.4%) |
| Vacant Housing Units | 1,047 ( 5.5%) |
| Median Home Value | $321,359 |
| Average Home Value | $321,915 |
Housing Distribution
Address Breakdown
Residential
18,280
Single Family
16,019
Multi-Family
2,261
Businesses
939
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Listed by: Kristin Schafer • AMW Real Estate Inc
Mls Name: REIN Inc.
Mls ID: #10608767