2332 Elaine 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 2332 Elaine Ave, Norfolk, VA, 23518 offers a 8.67% rental yield on a $355,000 purchase with $2,566/mo rent. Total monthly income registers $2,566/mo, and a $1,738/mo payment leaves $443/mo available for distribution. Annual cash flow reaches $5,321/yr on $117,683 to close, and return on cash invested stands at 24.43% in year one. Equity gained on principal adds $2,291/yr while 5% annual appreciation supports $98,080 over five years. Portfolio math shows five-year ROI at 126.84% and total cumulative return in cash at $149,268. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,566/mo property income against a $1,738/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1953
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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