1015 Colonial Ave APT 4NorfolkVA23507
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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 Norfolk at 1015 Colonial Ave APT 4, Norfolk, VA, 23507 uses $92,820 cash to close to unlock $8,012/yr annual cash flow and $668/mo monthly cash flow. Total monthly income runs $2,341/mo, and a $1,370/mo payment keeps the spread at $668/mo. Purchase price stands at $280,000, and rental yield measures 10.03% with $2,341/mo rent. Return on cash invested shows 28.54% in year one, and 5% annual appreciation builds toward $77,359 over five years. Five-year ROI reaches 148.87% and total cumulative return in cash records $138,177. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,341/mo property income covering a $1,370/mo payment rather than investor’s personal income.
Condo
Built in 1914
967.03 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23507, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,367 (100%) |
| Owner Occupied HU | 1,371 (40.7%) |
| Renter Occupied HU | 1,817 (54.0%) |
| Vacant Housing Units | 179 ( 5.3%) |
| Median Home Value | $570,652 |
| Average Home Value | $591,734 |
Housing Distribution
Address Breakdown
Residential
3,309
Single Family
1,888
Multi-Family
1,421
Businesses
140
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