2324 Fairbanks AveNorfolkVA23513
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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 2324 Fairbanks Ave, Norfolk, VA, 23513 offers a 6.25% rental yield on a $718,000 purchase with $3,737/mo rent. 24% in year one. Equity gained on principal adds $4,633/yr while 5% annual appreciation supports $198,370 over five years. Portfolio math shows five-year ROI at 88.24% and total cumulative return in cash at $208,431. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,737/mo property income against a $3,514/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2006
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23513, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,921 (100%) |
| Owner Occupied HU | 6,238 (48.3%) |
| Renter Occupied HU | 5,932 (45.9%) |
| Vacant Housing Units | 751 ( 5.8%) |
| Median Home Value | $284,891 |
| Average Home Value | $305,194 |
Housing Distribution
Address Breakdown
Residential
12,378
Single Family
10,519
Multi-Family
1,859
Businesses
665
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