8243 Sea Breeze DrChincoteague IslandVA23336
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
Investment Highlights
Investment property for sale in Chincoteague Island at 8243 Sea Breeze Dr, Chincoteague Island, VA, 23336 uses $57,018 cash to close to unlock $10,700/yr annual cash flow and $892/mo monthly cash flow. Total monthly income runs $1,920/mo, and a $842/mo payment keeps the spread at $892/mo. Purchase price stands at $172,000, and rental yield measures 13.4% with $1,920/mo rent. Return on cash invested shows 38.67% in year one, and 5% annual appreciation builds toward $47,520 over five years. Five-year ROI reaches 203.22% and total cumulative return in cash records $115,873. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,920/mo property income covering a $842/mo payment rather than investor’s personal income.
Manufactured
Built in 1981
5,080 sqft 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Meghan Oliver Clarkson • Long & Foster - Main St
Mls Name: Eastern Shore AOR
Mls ID: #65178