402 W 31st St #BNorfolkVA23508
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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 402 W 31st St #B, Norfolk, VA, 23508 earns $1,056/mo cash flow from $2,134/mo rent with a $833/mo payment. Total monthly income totals $2,134/mo, and annual cash flow totals $12,669/yr on $56,388 capital. ROI tracks 42.38% on current figures, and rental yield reads 15.05% at a $170,100 purchase. Equity gained on principal adds $1,098/yr, and 5% annual appreciation supports $46,995 over five years. Five-year ROI reaches 223.54% and total cumulative return in cash sums $126,053. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,134/mo property income instead of your personal income.
Apartment
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23508, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,693 (100%) |
| Owner Occupied HU | 3,355 (43.6%) |
| Renter Occupied HU | 3,776 (49.1%) |
| Vacant Housing Units | 562 ( 7.3%) |
| Median Home Value | $449,338 |
| Average Home Value | $541,747 |
Housing Distribution
Address Breakdown
Residential
7,986
Single Family
6,901
Multi-Family
1,085
Businesses
432
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