1608 Rich AveNorfolkVA23518
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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 1608 Rich Ave, Norfolk, VA, 23518 listed at $395,000 pairs $2,848/mo rent with a $1,933/mo payment to leave $487/mo cash flow. Total monthly income runs $2,848/mo, and annual cash flow reaches $5,845/yr on $130,943 cash to close. Return on cash invested measures 24.37% in year one, and rental yield registers 8.65% at a $395,000 basis. Equity gained on principal adds $2,549/yr, and annual property appreciation at 5% supports $109,131 by year five. Five-year ROI tracks 126.54% and total cumulative return in cash totals $165,690. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,848/mo property income relative to a $1,933/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1956
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23518, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,656 (100%) |
| Owner Occupied HU | 7,458 (54.6%) |
| Renter Occupied HU | 5,326 (39.0%) |
| Vacant Housing Units | 872 ( 6.4%) |
| Median Home Value | $348,004 |
| Average Home Value | $453,055 |
Housing Distribution
Address Breakdown
Residential
13,314
Single Family
11,450
Multi-Family
1,864
Businesses
684
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