215 E 39th StNorfolkVA23504
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 215 E 39th St, Norfolk, VA, 23504 in Norfolk at $600,000 earns $3,641/mo in rent and nets $54/mo after the $2,698/mo payment, a 7.28% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $165,769 over five years. Ziffy Mortgage underwrites this on a 1.35 DSCR without U.S. credit history. With $5,526/yr in principal paydown, total projected return reaches $230,432.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.3% | 6.5% |
| Monthly Cash Flow | $54 | $1,250 |
City averages based on Norfolk market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,641 |
| Total Monthly Debt Service | $3,348 |
| DSCR Ratio | 1.09x |
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 1912
0.25 Acres 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
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 1912
0.25 Acres 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices