509 E Gilpin AveNorfolkVA23503
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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 509 E Gilpin Ave, Norfolk, VA, 23503 listed at $215,000 pairs $1,403/mo rent with a $1,052/mo payment to leave $118/mo cash flow. Total monthly income runs $1,403/mo, and annual cash flow reaches $1,417/yr on $71,273 cash to close. Return on cash invested measures 21.9% in year one, and rental yield registers 7.83% at a $215,000 basis. Equity gained on principal adds $1,387/yr, and annual property appreciation at 5% supports $59,401 by year five. Five-year ROI tracks 113.3% and total cumulative return in cash totals $80,749. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,403/mo property income relative to a $1,052/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1949
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23503, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,289 (100%) |
| Owner Occupied HU | 6,167 (40.3%) |
| Renter Occupied HU | 7,804 (51.0%) |
| Vacant Housing Units | 1,318 ( 8.6%) |
| Median Home Value | $326,217 |
| Average Home Value | $371,028 |
Housing Distribution
Address Breakdown
Residential
14,352
Single Family
12,409
Multi-Family
1,943
Businesses
317
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