1214 Gates AveNorfolkVA23507
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Norfolk at 1214 Gates Ave, Norfolk, VA, 23507 priced at $650,000 pairs $4,265/mo rent with $380/mo cash flow after a $3,181/mo payment. Total monthly income equals $4,265/mo, and annual cash flow comes to $4,558/yr on $213,850 invested. Return on cash invested is 22.19% in year one, and rental yield stands at 7.87% on a $650,000 basis. Equity gained on principal adds $4,194/yr, and 5% annual appreciation accumulates to $179,583 by year five. Five-year ROI measures 114.77% and total cumulative return in cash reaches $245,426. For financing, Ziffy Mortgage’s DSCR program evaluates $4,265/mo property income against a $3,181/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1947
5,000 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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