622 Gladstone RdNorfolkVA23505
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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 622 Gladstone Rd, Norfolk, VA, 23505 offers $1,417/mo rent that, after a $1,542/mo payment. Total monthly income is $1,417/mo. Return on cash invested measures 14.55% in year one, and rental yield stands at 5.4% at a $315,000 entry. Equity gained on principal adds $2,033/yr while 5% annual appreciation compounds into $87,029 by year five. Five-year ROI records 73.84% and total cumulative return in cash reaches $77,105. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,417/mo property income versus a $1,542/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1948
N/A 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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