8570 Chesapeake Blvd APT 3NorfolkVA23503
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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 8570 Chesapeake Blvd APT 3, Norfolk, VA, 23503 uses $39,449 cash to close to unlock $2,761/yr annual cash flow and $230/mo monthly cash flow. Total monthly income runs $941/mo, and a $582/mo payment keeps the spread at $230/mo. Purchase price stands at $119,000, and rental yield measures 9.49% with $941/mo rent. Return on cash invested shows 26.91% in year one, and 5% annual appreciation builds toward $32,878 over five years. Five-year ROI reaches 140.22% and total cumulative return in cash records $55,313. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $941/mo property income covering a $582/mo payment rather than investor’s personal income.
Condo
Built in 1996
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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