7320 Glenroie Ave APT 5GNorfolkVA23505
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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 5G, Norfolk, VA, 23505 uses $82,875 cash to close to unlock $7,082/yr annual cash flow and $590/mo monthly cash flow. Total monthly income runs $2,085/mo, and a $1,224/mo payment keeps the spread at $590/mo. Purchase price stands at $250,000, and rental yield measures 10.01% with $2,085/mo rent. Return on cash invested shows 28.45% in year one, and 5% annual appreciation builds toward $69,070 over five years. Five-year ROI reaches 148.46% and total cumulative return in cash records $123,034. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,085/mo property income covering a $1,224/mo payment rather than investor’s personal income.
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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