6618 Palem RdNorfolkVA23513
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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 6618 Palem Rd, Norfolk, VA, 23513 earns $874/mo cash flow from $2,228/mo rent with a $1,109/mo payment. Total monthly income totals $2,228/mo, and annual cash flow totals $10,483/yr on $75,085 capital. ROI tracks 33.87% on current figures, and rental yield reads 11.8% at a $226,500 purchase. Equity gained on principal adds $1,462/yr, and 5% annual appreciation supports $62,578 over five years. Five-year ROI reaches 177.46% and total cumulative return in cash sums $133,248. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,228/mo property income instead of your personal income.
Single Family
Built in 1951
5,619 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23513, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,921 (100%) |
| Owner Occupied HU | 6,238 (48.3%) |
| Renter Occupied HU | 5,932 (45.9%) |
| Vacant Housing Units | 751 ( 5.8%) |
| Median Home Value | $284,891 |
| Average Home Value | $305,194 |
Housing Distribution
Address Breakdown
Residential
12,378
Single Family
10,519
Multi-Family
1,859
Businesses
665
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