989 Gas Light Ln #989Virginia BeachVA23462
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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 Virginia Beach at 989 Gas Light Ln #989, Virginia Beach, VA, 23462 uses $82,842 cash to close to unlock $5,535/yr annual cash flow and $461/mo monthly cash flow. Total monthly income runs $1,955/mo, and a $1,223/mo payment keeps the spread at $461/mo. Purchase price stands at $249,900, and rental yield measures 9.39% with $1,955/mo rent. Return on cash invested shows 26.59% in year one, and 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 138.43% and total cumulative return in cash records $114,674. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,955/mo property income covering a $1,223/mo payment rather than investor’s personal income.
Condo
Built in 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23462, Virginia Beach, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 30,678 (100%) |
| Owner Occupied HU | 15,212 (49.6%) |
| Renter Occupied HU | 14,006 (45.7%) |
| Vacant Housing Units | 1,460 ( 4.8%) |
| Median Home Value | $338,229 |
| Average Home Value | $402,753 |
Housing Distribution
Address Breakdown
Residential
29,327
Single Family
25,195
Multi-Family
4,132
Businesses
2,213
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Listed by: Mary Laughter • Inlet Properties Inc
Mls Name: REIN Inc.
Mls ID: #10613382