1403 Colonial AveNorfolkVA23517
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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 1403 Colonial Ave, Norfolk, VA, 23517 offers a 8.21% rental yield on a $489,000 purchase with $3,346/mo rent. Total monthly income registers $3,346/mo, and a $2,393/mo payment leaves $423/mo available for distribution. Annual cash flow reaches $5,079/yr on $162,104 to close, and return on cash invested stands at 23.04% in year one. Equity gained on principal adds $3,155/yr while 5% annual appreciation supports $135,102 over five years. Portfolio math shows five-year ROI at 119.38% and total cumulative return in cash at $193,522. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,346/mo property income against a $2,393/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Townhouse
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23517, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,110 (100%) |
| Owner Occupied HU | 813 (26.1%) |
| Renter Occupied HU | 2,106 (67.7%) |
| Vacant Housing Units | 191 ( 6.1%) |
| Median Home Value | $482,500 |
| Average Home Value | $517,257 |
Housing Distribution
Address Breakdown
Residential
3,034
Single Family
1,709
Multi-Family
1,325
Businesses
763
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