3840 Lenoir CirNorfolkVA23513
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 3840 Lenoir Cir, Norfolk, VA, 23513 uses $106,077 cash to close to unlock $8,512/yr annual cash flow and $709/mo monthly cash flow. Total monthly income runs $2,622/mo, and a $1,566/mo payment keeps the spread at $709/mo. Purchase price stands at $319,990, and rental yield measures 9.83% with $2,622/mo rent. Return on cash invested shows 27.93% in year one, and 5% annual appreciation builds toward $88,407 over five years. Five-year ROI reaches 145.63% and total cumulative return in cash records $154,476. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,622/mo property income covering a $1,566/mo payment rather than investor’s personal income.
Single Family
Built in 1940
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23513, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,921 (100%) |
| Owner Occupied HU | 6,238 (48.3%) |
| Renter Occupied HU | 5,932 (45.9%) |
| Vacant Housing Units | 751 ( 5.8%) |
| Median Home Value | $284,891 |
| Average Home Value | $305,194 |
Housing Distribution
Address Breakdown
Residential
12,378
Single Family
10,519
Multi-Family
1,859
Businesses
665
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices