261 E 40th StNorfolkVA23504
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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 261 E 40th St, Norfolk, VA, 23504 offers a 8.29% rental yield on a $299,000 purchase with $2,065/mo rent. Total monthly income registers $2,065/mo, and a $1,463/mo payment leaves $278/mo available for distribution. Annual cash flow reaches $3,337/yr on $99,119 to close, and return on cash invested stands at 23.28% in year one. Equity gained on principal adds $1,929/yr while 5% annual appreciation supports $82,608 over five years. Portfolio math shows five-year ROI at 120.67% and total cumulative return in cash at $119,602. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,065/mo property income against a $1,463/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1911
5,662 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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