313 W Freemason St APT 3NorfolkVA23510
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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 313 W Freemason St APT 3, Norfolk, VA, 23510 generates $3,434/mo in rent and, after a $2,643/mo payment, leaves $206/mo in cash flow. Total monthly income is $3,434/mo, and annual cash flow is $2,473/yr on $177,627 invested. Return on cash invested sits at 21.45% in year one, and rental yield is 7.63% on a $539,900 entry. Equity gained on principal adds $3,484/yr, while 5% annual appreciation builds toward $149,164 over five years. Five-year ROI reaches 110.83% and total cumulative return in cash sums $196,867. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,434/mo property income rather than buyer’s personal income.
Condo
Built in 1890
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23510, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,387 (100%) |
| Owner Occupied HU | 1,117 (17.5%) |
| Renter Occupied HU | 4,364 (68.3%) |
| Vacant Housing Units | 906 (14.2%) |
| Median Home Value | $548,376 |
| Average Home Value | $633,402 |
Housing Distribution
Address Breakdown
Residential
6,173
Single Family
3,106
Multi-Family
3,067
Businesses
1,652
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