1457 Chapel StNorfolkVA23504
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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
Rental property for sale in Norfolk at 1457 Chapel St, Norfolk, VA, 23504 priced at $419,000 converts $1,591/mo rent into after a $2,051/mo obligation. Total monthly income equals $1,591/mo. Return on cash invested prints 12.01% in year one, and rental yield reads 4.56% against a $419,000 entry. Equity gained on principal adds $2,704/yr, while 5% annual appreciation compiles into $115,762 by year five. Five-year ROI reaches 60.25% and total cumulative return in cash sums $83,693. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,591/mo property income covering a $2,051/mo payment, not borrower’s personal income.
Multi Family
Built in 1919
2,822 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23504, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,054 (100%) |
| Owner Occupied HU | 3,073 (33.9%) |
| Renter Occupied HU | 5,271 (58.2%) |
| Vacant Housing Units | 710 ( 7.8%) |
| Median Home Value | $300,814 |
| Average Home Value | $367,484 |
Housing Distribution
Address Breakdown
Residential
8,556
Single Family
7,432
Multi-Family
1,124
Businesses
538
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Listed by: Cindy Caskey • BHHS RW Towne Realty
Mls Name: REIN Inc.
Mls Provider:
Mls ID: #10548028
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