123 College Pl UNIT 905NorfolkVA23510
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 123 College Pl UNIT 905, Norfolk, VA, 23510 generates $3,157/mo in rent and, after a $2,100/mo payment, leaves $592/mo in cash flow. Total monthly income is $3,157/mo, and annual cash flow is $7,107/yr on $142,214 invested. Return on cash invested sits at 24.91% in year one, and rental yield is 8.83% on a $429,000 entry. Equity gained on principal adds $2,768/yr, while 5% annual appreciation builds toward $118,525 over five years. Five-year ROI reaches 129.38% and total cumulative return in cash sums $183,997. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,157/mo property income rather than buyer’s personal income.
Condo
Built in 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23510, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,387 (100%) |
| Owner Occupied HU | 1,117 (17.5%) |
| Renter Occupied HU | 4,364 (68.3%) |
| Vacant Housing Units | 906 (14.2%) |
| Median Home Value | $548,376 |
| Average Home Value | $633,402 |
Housing Distribution
Address Breakdown
Residential
6,173
Single Family
3,106
Multi-Family
3,067
Businesses
1,652
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices