624 W 28th 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 624 W 28th St, Norfolk, VA, 23508 uses $132,600 cash to close to unlock $6,428/yr annual cash flow and $536/mo monthly cash flow. Total monthly income runs $2,927/mo, and a $1,958/mo payment keeps the spread at $536/mo. Purchase price stands at $399,999, and rental yield measures 8.78% with $2,927/mo rent. Return on cash invested shows 24.76% in year one, and 5% annual appreciation builds toward $110,512 over five years. Five-year ROI reaches 128.55% and total cumulative return in cash records $170,463. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,927/mo property income covering a $1,958/mo payment rather than investor’s personal income.
Single Family
Built in 1910
N/A 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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