431 Lucas AveNorfolkVA23502
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who value predictability will appreciate 431 Lucas Ave, Norfolk, VA, 23502 in Norfolk. At $369,900 it earns $2,886/mo in rent and distributes $675/mo to the owner after the $1,663/mo payment, a consistent 9.36% yield. DSCR 1.74 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $102,197 in value; $3,407/yr in principal paydown compounds ownership stake. Total projected return: $183,410.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 6.5% |
| Monthly Cash Flow | $675 | $1,250 |
City averages based on Norfolk market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,886 |
| Total Monthly Debt Service | $2,064 |
| DSCR Ratio | 1.40x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1946
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23502, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,404 (100%) |
| Owner Occupied HU | 4,627 (49.2%) |
| Renter Occupied HU | 3,901 (41.5%) |
| Vacant Housing Units | 876 ( 9.3%) |
| Median Home Value | $329,468 |
| Average Home Value | $391,674 |
Housing Distribution
Address Breakdown
Residential
8,770
Single Family
7,927
Multi-Family
843
Businesses
1,377
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
Single Family
Built in 1946
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23502, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,404 (100%) |
| Owner Occupied HU | 4,627 (49.2%) |
| Renter Occupied HU | 3,901 (41.5%) |
| Vacant Housing Units | 876 ( 9.3%) |
| Median Home Value | $329,468 |
| Average Home Value | $391,674 |
Housing Distribution
Address Breakdown
Residential
8,770
Single Family
7,927
Multi-Family
843
Businesses
1,377
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices