1231 Modoc AveNorfolkVA23503
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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 1231 Modoc Ave, Norfolk, VA, 23503 uses $120,998 cash to close to unlock $5,203/yr annual cash flow and $434/mo monthly cash flow. Total monthly income runs $2,615/mo, and a $1,786/mo payment keeps the spread at $434/mo. Purchase price stands at $365,000, and rental yield measures 8.6% with $2,615/mo rent. Return on cash invested shows 24.21% in year one, and 5% annual appreciation builds toward $100,843 over five years. Five-year ROI reaches 125.63% and total cumulative return in cash records $152,011. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,615/mo property income covering a $1,786/mo payment rather than investor’s personal income.
Single Family
Built in 1961
8,215 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23503, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,289 (100%) |
| Owner Occupied HU | 6,167 (40.3%) |
| Renter Occupied HU | 7,804 (51.0%) |
| Vacant Housing Units | 1,318 ( 8.6%) |
| Median Home Value | $326,217 |
| Average Home Value | $371,028 |
Housing Distribution
Address Breakdown
Residential
14,352
Single Family
12,409
Multi-Family
1,943
Businesses
317
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