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10
Values dip to $300K, Rent at $2,200
Updated 10 days ago • 13 new comps
Your Investment Paths
Turnkey Rental
This property shows strong potential as a rental, with market analysis suggesting a solid monthly income between $2,095 and $2,341. These figures reflect current demand for comparable three-bedroom homes within this specific neighborhood. Investors can expect a healthy yield, supported by consistent rental income potential. With an average appreciation rate of 0.58% and market-driven growth, this home serves as a reliable addition to a balanced long-term portfolio.
More about this home
Neighborhood Assessment
Fairmount Park in Norfolk looks like a **stable, rent-driven neighborhood** with decent day-to-day demand. Nearby rentals cluster around the low-to-mid $2K range, which supports the current ask, and the area has practical appeal with schools close by. That said, school ratings are mixed, and this doesn’t read like a flashy, high-upside pocket on comps alone.
Market Activity
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Rental Income
$27K
Yield
1111.3%
Appreciation
$14
Year 1 Estimates
Fix-and-Flip
Refreshing a home brings a fresh, modern aesthetic that attracts buyers seeking move-in ready living. While market price per square foot remains similar at approximately $205 compared to $206, these updates provide a distinctive, appealing lifestyle edge. Investing in modern touches strengthens your rent potential to roughly $2,301, creating steady long-term value. This path is ideal for creating a comfortable, updated sanctuary that stands out in the neighborhood, ensuring your property remains highly desirable.
Comps
41
Buy-Rehab-Rent
This property presents a solid BRR opportunity with an after-repair value between $291,000 and $321,000. Rent projections are strong, sitting at an estimated $2,301 monthly, which provides a reliable income stream for a 3-bedroom, 2-bath home. Investors can expect a healthy 9.0% yield on this asset. While market appreciation is modest, the combination of consistent rental demand and a stabilized asset value makes this a practical, stable choice for building long-term portfolio equity.
Rental Income
$28K
Yield
9.0%
Appreciation
$2K
Year 1 Estimates, Post Typical Renovation
Estimated value
$2K
$297.6K below comp median
Comparative Market Analysis
$190K – $335K
~94 days to sell
Based on 8 comps
3119 Lens Ave, Norfolk Investment Report: Flip & Rental Analysis · Frontflip