1400 Granby St UNIT 216NorfolkVA23510
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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 1400 Granby St UNIT 216, Norfolk, VA, 23510 uses $73,560 cash to close to unlock $662/yr annual cash flow and $55/mo monthly cash flow. Total monthly income runs $1,645/mo, and a $1,086/mo payment keeps the spread at $55/mo. Purchase price stands at $221,900, and rental yield measures 8.9% with $1,645/mo rent. Return on cash invested shows 20.81% in year one, and 5% annual appreciation builds toward $61,307 over five years. Five-year ROI reaches 109.02% and total cumulative return in cash records $80,192. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,645/mo property income covering a $1,086/mo payment rather than investor’s personal income.
Condo
Built in 2006
N/A lot
$N/A/sqft
$244 monthly 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
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Listed by: Leslie Brennan • Iron Valley Real Estate HR
Mls Name: REIN Inc.
Mls Provider:
Mls ID: #10590301
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