867 Stonegate CtSalemVA24153
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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 Salem at 867 Stonegate Ct, Salem, VA, 24153 offers $1,862/mo rent that, after a $1,248/mo payment, leaves $57/mo cash flow. Total monthly income is $1,862/mo, and annual cash flow is $678/yr on $84,533 cash. Return on cash invested measures 20.71% in year one, and rental yield stands at 8.76% at a $255,000 entry. Equity gained on principal adds $1,645/yr while 5% annual appreciation compounds into $70,452 by year five. Five-year ROI records 108.34% and total cumulative return in cash reaches $91,580. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,862/mo property income versus a $1,248/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Townhouse
Built in 1983
2,613 sqft lot
$N/A/sqft
$260 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24153, Salem, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,874 (100%) |
| Owner Occupied HU | 11,469 (68.0%) |
| Renter Occupied HU | 4,141 (24.5%) |
| Vacant Housing Units | 1,264 ( 7.5%) |
| Median Home Value | $317,038 |
| Average Home Value | $367,775 |
Housing Distribution
Address Breakdown
Residential
16,321
Single Family
15,046
Multi-Family
1,275
Businesses
1,603
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Listed by: Phillip Darnall • RE/MAX REAL ESTATE ONE
Mls Name: RVAR
Mls Provider:
Mls ID: #916753
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