835 Little Bay Ave APT ENorfolkVA23503
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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 835 Little Bay Ave APT E, Norfolk, VA, 23503 at $274,900 posts ROI 28.14% with $625/mo cash flow from $2,268/mo rent. Total monthly income equals $2,268/mo, and annual cash flow records $7,502/yr on $91,129 to close. Return on cash invested measures 28.14% and rental yield reads 9.9% at the current $274,900. Equity gained on principal adds $1,774/yr, and 5% annual appreciation supports $75,950 by year five. Five-year ROI prints 146.76% and total cumulative return in cash totals $133,743.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $2,268/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23503, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,289 (100%) |
| Owner Occupied HU | 6,167 (40.3%) |
| Renter Occupied HU | 7,804 (51.0%) |
| Vacant Housing Units | 1,318 ( 8.6%) |
| Median Home Value | $326,217 |
| Average Home Value | $371,028 |
Housing Distribution
Address Breakdown
Residential
14,352
Single Family
12,409
Multi-Family
1,943
Businesses
317
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