Margate Plan, Simms FarmSalemVA24153
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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 Margate Plan, Simms Farm, Salem, VA, 24153 priced at $417,950 converts $2,554/mo rent into $55/mo cash flow after a $2,046/mo obligation. Total monthly income equals $2,554/mo, and annual cash flow totals $663/yr on $138,550 invested. Return on cash invested prints 20.39% in year one, and rental yield reads 7.33% against a $417,950 entry. Equity gained on principal adds $2,697/yr, while 5% annual appreciation compiles into $115,472 by year five. Five-year ROI reaches 105.15% and total cumulative return in cash sums $145,691. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,554/mo property income covering a $2,046/mo payment, not borrower’s personal income.
Single Family
Built in 2025
N/A lot
$N/A/sqft
No 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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