717 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
Rental property for sale in Norfolk at 717 W 29th St, Norfolk, VA, 23508 generates $1,847/mo in rent and, after a $1,322/mo payment, leaves $233/mo in cash flow. Total monthly income is $1,847/mo, and annual cash flow is $2,790/yr on $89,505 invested. Return on cash invested sits at 23.03% in year one, and rental yield is 8.21% on a $270,000 entry. Equity gained on principal adds $1,742/yr, while 5% annual appreciation builds toward $74,596 over five years. Five-year ROI reaches 119.31% and total cumulative return in cash sums $106,789. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,847/mo property income rather than buyer’s personal income.
Single Family
Built in 1919
2,761 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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