230 College Pl APT 213NorfolkVA23510
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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 230 College Pl APT 213, Norfolk, VA, 23510 generates $2,278/mo in rent and, after a $1,419/mo payment, leaves $545/mo in cash flow. Total monthly income is $2,278/mo, and annual cash flow is $6,539/yr on $96,102 invested. Return on cash invested sits at 26.71% in year one, and rental yield is 9.43% on a $289,900 entry. Equity gained on principal adds $1,871/yr, while 5% annual appreciation builds toward $80,094 over five years. Five-year ROI reaches 139.05% and total cumulative return in cash sums $133,629. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,278/mo property income rather than buyer’s personal income.
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23510, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,387 (100%) |
| Owner Occupied HU | 1,117 (17.5%) |
| Renter Occupied HU | 4,364 (68.3%) |
| Vacant Housing Units | 906 (14.2%) |
| Median Home Value | $548,376 |
| Average Home Value | $633,402 |
Housing Distribution
Address Breakdown
Residential
6,173
Single Family
3,106
Multi-Family
3,067
Businesses
1,652
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