8507 Fleming RdWallops IslandVA23337
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
Rental property for sale in Wallops Island at 8507 Fleming Rd, Wallops Island, VA, 23337 priced at $190,000 converts $1,488/mo rent into $352/mo cash flow after a $930/mo obligation. Total monthly income equals $1,488/mo, and annual cash flow totals $4,226/yr on $62,985 invested. Return on cash invested prints 26.62% in year one, and rental yield reads 9.4% against a $190,000 entry. Equity gained on principal adds $1,226/yr, while 5% annual appreciation compiles into $52,494 by year five. Five-year ROI reaches 138.62% and total cumulative return in cash sums $87,312. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,488/mo property income covering a $930/mo payment, not borrower’s personal income.
Manufactured
Built in 1985
8,750 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23337, Wallops Island, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 293 (100%) |
| Owner Occupied HU | 166 (56.7%) |
| Renter Occupied HU | 58 (19.8%) |
| Vacant Housing Units | 69 (23.5%) |
| Median Home Value | $213,889 |
| Average Home Value | $252,091 |
Housing Distribution
Address Breakdown
Residential
227
Single Family
227
Multi-Family
0
Businesses
21
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sandy Daisey • COLDWELL BANKER HARBOUR REALTY
Mls Name: Eastern Shore AOR
Mls Provider:
Mls ID: #60452
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.