602 E Spruce AveNorfolkNE68701
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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 602 E Spruce Ave, Norfolk, NE, 68701 uses $112,677 cash to close to unlock $8,572/yr annual cash flow and $714/mo monthly cash flow. Total monthly income runs $3,010/mo, and a $1,664/mo payment keeps the spread at $714/mo. Purchase price stands at $339,900, and rental yield measures 10.63% with $3,010/mo rent. Return on cash invested shows 27.52% in year one, and 5% annual appreciation builds toward $93,908 over five years. Five-year ROI reaches 144.39% and total cumulative return in cash records $162,695. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,010/mo property income covering a $1,664/mo payment rather than investor’s personal income.
Single Family
Built in 1990
9,924 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 68701, Norfolk, NE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,696 (100%) |
| Owner Occupied HU | 8,069 (58.9%) |
| Renter Occupied HU | 4,526 (33.0%) |
| Vacant Housing Units | 1,101 ( 8.0%) |
| Median Home Value | $228,245 |
| Average Home Value | $270,657 |
Housing Distribution
Address Breakdown
Residential
13,819
Single Family
12,218
Multi-Family
1,601
Businesses
1,183
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Listed by: Bev Mauch • Coldwell Banker Dover
Mls Name: Norfolk BOR
Mls ID: #250485
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.