7948 Merritt StNorfolkVA23518
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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 7948 Merritt St, Norfolk, VA, 23518 generates $936/mo in rent and, after a $582/mo payment, leaves $225/mo in cash flow. Total monthly income is $936/mo, and annual cash flow is $2,701/yr on $39,449 invested. Return on cash invested sits at 26.76% in year one, and rental yield is 9.44% on a $119,000 entry. Equity gained on principal adds $768/yr, while 5% annual appreciation builds toward $32,878 over five years. Five-year ROI reaches 139.43% and total cumulative return in cash sums $55,001. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $936/mo property income rather than buyer’s personal income.
Single Family
Built in 1965
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23518, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,656 (100%) |
| Owner Occupied HU | 7,458 (54.6%) |
| Renter Occupied HU | 5,326 (39.0%) |
| Vacant Housing Units | 872 ( 6.4%) |
| Median Home Value | $348,004 |
| Average Home Value | $453,055 |
Housing Distribution
Address Breakdown
Residential
13,314
Single Family
11,450
Multi-Family
1,864
Businesses
684
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