747 Shirley AveNorfolkVA23517
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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 747 Shirley Ave, Norfolk, VA, 23517 priced at $659,000 converts $2,124/mo rent into after a $3,225/mo obligation. Total monthly income equals $2,124/mo. Return on cash invested prints 10.02% in year one, and rental yield reads 3.87% against a $659,000 entry. Equity gained on principal adds $4,252/yr, while 5% annual appreciation compiles into $182,070 by year five. Five-year ROI reaches 49.48% and total cumulative return in cash sums $107,287. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,124/mo property income covering a $3,225/mo payment, not borrower’s personal income.
Multi Family
Built in 1919
4,830 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23517, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,110 (100%) |
| Owner Occupied HU | 813 (26.1%) |
| Renter Occupied HU | 2,106 (67.7%) |
| Vacant Housing Units | 191 ( 6.1%) |
| Median Home Value | $482,500 |
| Average Home Value | $517,257 |
Housing Distribution
Address Breakdown
Residential
3,034
Single Family
1,709
Multi-Family
1,325
Businesses
763
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