Real Estate Investing in Norfolk, Virginia (23510)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23510 (Norfolk, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated poverty: 23.0% poverty rate — can affect rent collection.
What’s happening in Norfolk, VA (23510)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23510 Norfolk
Not every below-median market is a bargain. Norfolk's 23510 ZIP posts signals that favor experienced operators who can absorb the risk $331K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $331K asset, 23510 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 23510 sits on the difficult end of the VA spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 23510 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 23510 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Norfolk:
Property Strategy for 23510
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $247,877 | $1,760 | 5.1% | +3.8% | $247,877 |
| 2BR | $342,302 | $1,990 | 4.2% | +3.6% | $171,151 |
| 3BR | $608,313 | $2,760 | 3.3% | +4.8% | $202,771 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23510 Compare?
| Metric | 23510 | Norfolk | Virginia |
|---|---|---|---|
| Home Value | $330,745 | $281,864 | $403,170 |
| 5-Year CAGR | 2.2% | 4.1% | 6.4% |
| Avg Rent | $1,799 | $1,780 | - |
| Cap Rate | 4.2% | 4.3% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23510 (Norfolk, VA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 23510 (Norfolk, VA)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Norfolk City County
Manage rentals here? List your business →Real Property Management helps protect investments, provide professional service, minimize costs, and maximize income for property owners. summary from their website
OV Living offers 1 & 2 bedroom apartments in Norfolk, Virginia, with spacious layouts, light-filled rooms, and convenient features. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $330,745 |
| Monthly Rent | $1,799 |
| Price-to-Rent | 15.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.5% |
| Cap Rate | 4.2% |
| 5-Year IRR | 6.5% |
📈 Home Appreciation
| 1-Year | +0.8% ▲ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | +2.2% ▲ |
| 10-Year CAGR | +2.4% ▲ |
🏠 Rent Trends
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 23510
Population: 9,240
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 23510
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Chesterfield Elementary
Ruffner School
Southside STEM Academy at Campostella
Willard Elementary
James Monroe Elementary
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,182 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Do rentals sit vacant long in Norfolk, VA?
Vacancy risk in Norfolk, VA is elevated. That supports predictable cash flow for typical rental holds.
Which real estate strategy fits Norfolk, VA?
A careful cash-flow rentals with hands-on management strategy Norfolk, VA best. The market produces reliable results for that approach at the $331K price point.
How strong is the working-renter base in Norfolk, VA?
Expect a solid tenant pool in Norfolk, VA. The rental market absorbs $1,799/mo rents without meaningful friction.
How viable is house hacking in Norfolk, VA?
For house hackers, Norfolk, VA is a challenging. The $1,799/mo rent on a unit helps defray the mortgage on a $331K property.
Is Norfolk, VA a good place for real estate investing?
Our data puts Norfolk, VA at 3.0/5 for investability. Home prices of $331K and rents around $1,799/mo create a solid backdrop for investor activity.
You know 23510 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23510 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 23510 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 23510 (Norfolk)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 23510 (Norfolk, VA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.