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19
Value at $325K; Rent Potential $2,559
Updated 2 days ago • 2 new comps
Your Investment Paths
Turnkey Rental
The property at 8550 Tidewater Drive shows excellent rental potential. Market data for similar units suggests a monthly income range between $2,322 and $2,693, positioning this as a strong opportunity for consistent cash flow. With an estimated yield of 10.39%, this investment is highly attractive for those seeking reliable returns. The consistent demand in the area supports these figures, making it a solid choice for any rental property portfolio.
More about this home
Neighborhood Assessment
The Hyde Park neighborhood in Norfolk's 23503 zipcode offers solid rental demand thanks to its prime location near NOB and Little Creek Naval Bases. You're looking at a 1,600 sqft single-family home with 2 beds and 3 baths, recently renovated with granite counters and stainless appliances—it's renting around $1.8K, matching comps at $240K-$290K valuations. Schools are mixed: Mary Calcott Elementary rates 5/10, but middle and high schools lag at 3/10 and 2/10. Walkability's decent with military-driven stability, though flood and wind risks are moderate-to-severe. Comps in the same complex (mostly condos/apartments) show steady values around $255K, suggesting consistent neighborhood pricing without big upside from developments.
Market Activity
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Rental Income
$30K
Yield
10.4%
Appreciation
$3K
Year 1 Estimates
Fix-and-Flip
Updating your home offers a fantastic chance to boost appeal and create a modern, vibrant space. While current trends show a price per square foot of roughly $193 for refreshed homes versus $203 for others, these improvements define character. A renovation increases rent potential to nearly $2,604, unlocking steady cash flow. Focus on quality finishes to transform your property, ensuring it stands out while providing a comfortable, updated lifestyle that buyers and renters will truly love.
Comps
8
Buy-Rehab-Rent
This property offers solid BRR potential with a post-renovation value ranging from $286,000 to $316,000. These figures, supported by recent market trends, provide a clear target for investors looking to build equity through strategic property improvements. Monthly rental income is estimated at $2,604, resulting in a strong 10.4% yield. This consistent cash flow makes the asset an attractive candidate for long-term rental portfolios despite the low flip potential in the current market.
Rental Income
$31K
Yield
10.4%
Appreciation
$3K
Year 1 Estimates, Post Typical Renovation
Estimated value
$290K
$35.3K below comp median
Comparative Market Analysis
$180K – $500K
~382 days to sell
Based on 8 comps
8550 Tidewater Dr, Norfolk Investment Report: Flip & Rental Analysis · Frontflip