1868 Springwood StNorfolkVA23518
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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 1868 Springwood St, Norfolk, VA, 23518 offers a 9.15% rental yield on a $447,000 purchase with $3,407/mo rent. Total monthly income registers $3,407/mo, and a $2,188/mo payment leaves $735/mo available for distribution. Annual cash flow reaches $8,817/yr on $148,181 to close, and return on cash invested stands at 25.86% in year one. Equity gained on principal adds $2,884/yr while 5% annual appreciation supports $123,498 over five years. Portfolio math shows five-year ROI at 134.47% and total cumulative return in cash at $199,260. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,407/mo property income against a $2,188/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1957
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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