1115 Colley Ave #B-3NorfolkVA23507
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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 1115 Colley Ave #B-3, Norfolk, VA, 23507 earns $166/mo cash flow from $2,082/mo rent with a $1,089/mo payment. Total monthly income totals $2,082/mo, and annual cash flow totals $1,988/yr on $73,759 capital. ROI tracks 22.6% on current figures, and rental yield reads 11.23% at a $222,500 purchase. Equity gained on principal adds $1,436/yr, and 5% annual appreciation supports $61,473 over five years. Five-year ROI reaches 120.48% and total cumulative return in cash sums $88,864. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,082/mo property income instead of your personal income.
Condo
Built in 1916
1,119 sqft lot
$N/A/sqft
$514 monthly 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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Listed by: Bethany White • BHHS RW Towne Realty
Mls Name: REIN Inc.
Mls Provider:
Mls ID: #10606131
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