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Turnkey Rental
The rental market for this property shows strong potential, with estimated monthly income ranging from $1,977 to $2,210. This steady stream of revenue makes it an attractive option for investors looking to build consistent cash flow. With an impressive yield of over 17%, this property stands out as a high-performing rental investment. Current market trends suggest solid returns, making this a promising opportunity to capitalize on the local demand for housing.
More about this home
Neighborhood Assessment
Fairfield in Richmond's 23223 zip is a classic C-class neighborhood—working-class with solid rental demand but challenges like low school ratings (Fairfield Court Elementary at 4/10, Armstrong High at 2/10). Walkability's okay near local spots, though no big developments pop up. Nearby comps sell cheap: lots at 64K, renovated homes hit 320K+. This 1,212 sqft, 3-bed/2-bath 1920 bungalow lists at $145K with new roof/windows—priced below Zestimate of 258K, signaling flip upside in a stabilizing area.
Market Activity
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Rental Income
$25K
Yield
17.3%
Appreciation
$2K
Year 1 Estimates
Fix-and-Flip
Refreshing your home creates significant value. Updated properties command about 221 dollars per square foot compared to 189 dollars for others. This represents a 16 percent boost, helping your property shine and attracting discerning buyers easily. With an added value of nearly 38,000 dollars, this project unlocks higher rent potential and better resale prospects. Investing in modern touches makes your home more desirable, securing your financial future while enjoying a beautiful, contemporary space.
Value Add
$38K
Appreciation
$4K
Post Typical Renovation
Buy-Rehab-Rent
This property offers solid BRR potential with a post-renovation value estimated between $253,000 and $279,000. Upgrading this 1920s home captures an average price increase of roughly 16 percent, significantly boosting total equity beyond the initial acquisition costs. Projected rental income hits a strong $2,269 monthly, delivering a healthy 10.2 percent yield. With consistent demand in this zip code, the figures suggest a reliable cash-flowing asset once the renovation is completed to modern standards.
Rental Income
$27K
Yield
10.2%
Appreciation
$4K
Year 1 Estimates, Post Typical Renovation
Estimated value
$145K
$165.1K below comp median
Comparative Market Analysis
$200K – $365K
~32 days to sell
Based on 8 comps
2114 Selden St, Richmond Investment Report: Flip & Rental Analysis · Frontflip