2922 Pretty Lake AveNorfolkVA23518
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 2922 Pretty Lake Ave, Norfolk, VA, 23518 in Norfolk speaks for itself: 10.09% gross on a $599,000 price, generating $5,035/mo in rent and $1,454/mo in net income after the $2,693/mo debt service. DSCR 1.87, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $17,454 stacks alongside $165,493 in projected five-year appreciation and $5,517/yr in principal reduction. Projected total cumulative return: $320,236.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.1% | 6.5% |
| Monthly Cash Flow | $1,454 | $1,250 |
City averages based on Norfolk market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $5,035 |
| Total Monthly Debt Service | $3,342 |
| DSCR Ratio | 1.51x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2014
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
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
Single Family
Built in 2014
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices