902 Summerfield CresChesapeakeVA23322
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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
Investment property for sale in Chesapeake at 902 Summerfield Cres, Chesapeake, VA, 23322 offers a 8.06% rental yield on a $465,000 purchase with $3,122/mo rent. Total monthly income registers $3,122/mo, and a $2,276/mo payment leaves $342/mo available for distribution. Annual cash flow reaches $4,107/yr on $154,148 to close, and return on cash invested stands at 22.57% in year one. Equity gained on principal adds $3,001/yr while 5% annual appreciation supports $128,471 over five years. Portfolio math shows five-year ROI at 116.86% and total cumulative return in cash at $180,143. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,122/mo property income against a $2,276/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1996
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23322, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,832 (100%) |
| Owner Occupied HU | 19,301 (84.5%) |
| Renter Occupied HU | 3,054 (13.4%) |
| Vacant Housing Units | 477 ( 2.1%) |
| Median Home Value | $510,303 |
| Average Home Value | $550,245 |
Housing Distribution
Address Breakdown
Residential
23,013
Single Family
22,470
Multi-Family
543
Businesses
841
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Listed by: Cheralyn Whetstone • GreenTree Realty Inc
Mls Name: REIN Inc.
Mls ID: #10599868