404 Norfolk Ave #BVirginia BeachVA23451
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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 Virginia Beach at 404 Norfolk Ave #B, Virginia Beach, VA, 23451 offers $3,500/mo rent that, after a $2,814/mo payment, leaves $63/mo cash flow. Total monthly income is $3,500/mo, and annual cash flow is $758/yr on $189,142 cash. Return on cash invested measures 20.46% in year one, and rental yield stands at 7.31% at a $574,900 entry. Equity gained on principal adds $3,710/yr while 5% annual appreciation compounds into $158,834 by year five. Five-year ROI records 105.5% and total cumulative return in cash reaches $199,551. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,500/mo property income versus a $2,814/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 2013
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23451, Virginia Beach, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,668 (100%) |
| Owner Occupied HU | 11,149 (43.4%) |
| Renter Occupied HU | 10,477 (40.8%) |
| Vacant Housing Units | 4,042 (15.7%) |
| Median Home Value | $687,053 |
| Average Home Value | $816,102 |
Housing Distribution
Address Breakdown
Residential
24,175
Single Family
18,609
Multi-Family
5,566
Businesses
1,835
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Listed by: September Lundeen • Redfin Corporation
Mls Name: REIN Inc.
Mls ID: #10592807