7320 Glenroie Ave APT 2GNorfolkVA23505
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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 7320 Glenroie Ave APT 2G, Norfolk, VA, 23505 offers a 9.31% rental yield on a $199,000 purchase with $1,544/mo rent. Total monthly income registers $1,544/mo, and a $974/mo payment leaves $354/mo available for distribution. Annual cash flow reaches $4,253/yr on $65,969 to close, and return on cash invested stands at 26.36% in year one. Equity gained on principal adds $1,284/yr while 5% annual appreciation supports $54,980 over five years. Portfolio math shows five-year ROI at 137.18% and total cumulative return in cash at $90,498. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,544/mo property income against a $974/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1965
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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