2603 Middle AveNorfolkVA23504
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
Investment Highlights
Investment property for sale in Norfolk at 2603 Middle Ave, Norfolk, VA, 23504 uses $44,753 cash to close to unlock $3,117/yr annual cash flow and $260/mo monthly cash flow. Total monthly income runs $1,067/mo, and a $661/mo payment keeps the spread at $260/mo. Purchase price stands at $135,000, and rental yield measures 9.48% with $1,067/mo rent. Return on cash invested shows 26.87% in year one, and 5% annual appreciation builds toward $37,298 over five years. Five-year ROI reaches 139.92% and total cumulative return in cash records $62,617. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,067/mo property income covering a $661/mo payment rather than investor’s personal income.
Single Family
Built in 1928
2,613 sqft 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