835 Little Bay AveNorfolkVA23503
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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 835 Little Bay Ave, Norfolk, VA, 23503 priced at $269,900 pairs $2,228/mo rent with $615/mo cash flow after a $1,321/mo payment. Total monthly income equals $2,228/mo, and annual cash flow comes to $7,375/yr on $89,472 invested. Return on cash invested is 28.15% in year one, and rental yield stands at 9.91% on a $269,900 basis. Equity gained on principal adds $1,742/yr, and 5% annual appreciation accumulates to $74,568 by year five. Five-year ROI measures 146.79% and total cumulative return in cash reaches $131,334. For financing, Ziffy Mortgage’s DSCR program evaluates $2,228/mo property income against a $1,321/mo payment instead of your W2s, 1099s, or 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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