1558 Norcova AveNorfolkVA23502
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow1558 Norcova Ave, Norfolk, VA, 23502 in Norfolk earns its strong cash-flow label: 11.59% yield, $2,366/mo rent, $902/mo net income, DSCR 2.15. The $245,000 acquisition cost produces immediate returns that put this property in the top tier for U.S. income assets accessible via Ziffy Mortgage's rental-income underwriting. Long-term, 5% annual appreciation adds $67,689 by year five. Combined with $2,256/yr in principal paydown, total projected return reaches $150,688.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.6% | 6.5% |
| Monthly Cash Flow | $902 | $1,250 |
City averages based on Norfolk market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,366 |
| Total Monthly Debt Service | $1,367 |
| DSCR Ratio | 1.73x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1994
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23502, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,404 (100%) |
| Owner Occupied HU | 4,627 (49.2%) |
| Renter Occupied HU | 3,901 (41.5%) |
| Vacant Housing Units | 876 ( 9.3%) |
| Median Home Value | $329,468 |
| Average Home Value | $391,674 |
Housing Distribution
Address Breakdown
Residential
8,770
Single Family
7,927
Multi-Family
843
Businesses
1,377
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
Single Family
Built in 1994
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23502, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,404 (100%) |
| Owner Occupied HU | 4,627 (49.2%) |
| Renter Occupied HU | 3,901 (41.5%) |
| Vacant Housing Units | 876 ( 9.3%) |
| Median Home Value | $329,468 |
| Average Home Value | $391,674 |
Housing Distribution
Address Breakdown
Residential
8,770
Single Family
7,927
Multi-Family
843
Businesses
1,377
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices