504 E Freemason St APT 3BNorfolkVA23510
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors who value predictability will appreciate 504 E Freemason St APT 3B, Norfolk, VA, 23510 in Norfolk. At $225,000 it earns $2,234/mo in rent and distributes $481/mo to the owner after the $1,012/mo payment, a consistent 11.92% yield. DSCR 2.21 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $62,163 in value; $2,072/yr in principal paydown compounds ownership stake. Total projected return: $142,344.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 11.9% | 6.2% |
| Monthly Cash Flow | $481 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,234 |
| Total Monthly Debt Service | $1,255 |
| DSCR Ratio | 1.78x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23510, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,387 (100%) |
| Owner Occupied HU | 1,117 (17.5%) |
| Renter Occupied HU | 4,364 (68.3%) |
| Vacant Housing Units | 906 (14.2%) |
| Median Home Value | $548,376 |
| Average Home Value | $633,402 |
Housing Distribution
Address Breakdown
Residential
6,173
Single Family
3,106
Multi-Family
3,067
Businesses
1,652
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23510, Norfolk, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,387 (100%) |
| Owner Occupied HU | 1,117 (17.5%) |
| Renter Occupied HU | 4,364 (68.3%) |
| Vacant Housing Units | 906 (14.2%) |
| Median Home Value | $548,376 |
| Average Home Value | $633,402 |
Housing Distribution
Address Breakdown
Residential
6,173
Single Family
3,106
Multi-Family
3,067
Businesses
1,652
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices