2606 Westminster AveNorfolkVA23504
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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 2606 Westminster Ave, Norfolk, VA, 23504 generates $2,236/mo in rent and, after a $1,623/mo payment, leaves $189/mo in cash flow. Total monthly income is $2,236/mo, and annual cash flow is $2,271/yr on $109,892 invested. Return on cash invested sits at 21.98% in year one, and rental yield is 8.09% on a $331,500 entry. Equity gained on principal adds $2,139/yr, while 5% annual appreciation builds toward $91,587 over five years. Five-year ROI reaches 113.93% and total cumulative return in cash sums $125,198. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,236/mo property income rather than buyer’s personal income.
Multi Family
Built in 1973
5,384 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
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Listed by: Denise Jones • United Real Estate Richmond
Mls Name: CVRMLS
Mls Provider:
Mls ID: #2519707
Disclaimer: All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are 2025 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.