417 Rhode Island AveNorfolkVA23508
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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 417 Rhode Island Ave, Norfolk, VA, 23508 listed at $374,900 pairs $2,408/mo rent with a $1,835/mo payment to leave $167/mo cash flow. Total monthly income runs $2,408/mo, and annual cash flow reaches $2,002/yr on $124,279 cash to close. Return on cash invested measures 21.52% in year one, and rental yield registers 7.71% at a $374,900 basis. Equity gained on principal adds $2,419/yr, and annual property appreciation at 5% supports $103,578 by year five. Five-year ROI tracks 111.2% and total cumulative return in cash totals $138,199. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,408/mo property income relative to a $1,835/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1986
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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