1029 Avenue ENorfolkVA23513
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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 1029 Avenue E, Norfolk, VA, 23513 uses $135,915 cash to close to unlock $5,770/yr annual cash flow and $481/mo monthly cash flow. Total monthly income runs $2,932/mo, and a $2,007/mo payment keeps the spread at $481/mo. Purchase price stands at $410,000, and rental yield measures 8.58% with $2,932/mo rent. Return on cash invested shows 24.15% in year one, and 5% annual appreciation builds toward $113,275 over five years. Five-year ROI reaches 125.34% and total cumulative return in cash records $170,351. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,932/mo property income covering a $2,007/mo payment rather than investor’s personal income.
Single Family
Built in 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23513, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,921 (100%) |
| Owner Occupied HU | 6,238 (48.3%) |
| Renter Occupied HU | 5,932 (45.9%) |
| Vacant Housing Units | 751 ( 5.8%) |
| Median Home Value | $284,891 |
| Average Home Value | $305,194 |
Housing Distribution
Address Breakdown
Residential
12,378
Single Family
10,519
Multi-Family
1,859
Businesses
665
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