617 W 29th StNorfolkVA23508
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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 617 W 29th St, Norfolk, VA, 23508 uses $96,135 cash to close to unlock $658/yr annual cash flow and $55/mo monthly cash flow. Total monthly income runs $1,788/mo, and a $1,419/mo payment keeps the spread at $55/mo. Purchase price stands at $290,000, and rental yield measures 7.4% with $1,788/mo rent. Return on cash invested shows 20.59% in year one, and 5% annual appreciation builds toward $80,122 over five years. Five-year ROI reaches 106.23% and total cumulative return in cash records $102,124. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,788/mo property income covering a $1,419/mo payment rather than investor’s personal income.
Multi Family
Built in 1912
5,000 sqft 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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