617 Burleigh AveNorfolkVA23505
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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 Norfolk at 617 Burleigh Ave, Norfolk, VA, 23505 priced at $465,000 converts $3,913/mo rent into $1,133/mo cash flow after a $2,276/mo obligation. Total monthly income equals $3,913/mo, and annual cash flow totals $13,599/yr on $154,148 invested. Return on cash invested prints 28.73% in year one, and rental yield reads 10.1% against a $465,000 entry. Equity gained on principal adds $3,001/yr, while 5% annual appreciation compiles into $128,471 by year five. Five-year ROI reaches 149.89% and total cumulative return in cash sums $231,047. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,913/mo property income covering a $2,276/mo payment, not borrower’s personal income.
Single Family
Built in 2020
6,882 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23505, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,215 (100%) |
| Owner Occupied HU | 4,731 (35.8%) |
| Renter Occupied HU | 7,553 (57.2%) |
| Vacant Housing Units | 931 ( 7.0%) |
| Median Home Value | $416,308 |
| Average Home Value | $514,747 |
Housing Distribution
Address Breakdown
Residential
12,543
Single Family
9,670
Multi-Family
2,873
Businesses
541
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