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1423 Ocean View Ave #5, Norfolk, VA, 23503

1beds
1baths
605sqft
$125,000
$207price/sqft
$1,035/moest. monthly cost
$41,400/yrincome needed

About This Home

Fall in love with this ground floor 1 bedroom 1 bathroom condo in beautiful Ocean View! Call today for your private showing!

Getting Around

18
WalkingCar-Dependent
38
TransitSome Transit
33
BikeSomewhat Bikeable

Schools

4/10
Bay View Elementary SchoolGrades PK-50.5 mi
3/10
Azalea Middle SchoolGrades 6-82.4 mi
2/10
Norview High SchoolGrades 9-122.9 mi

Construction

Condition

  • Year built: 1979

Materials

  • Foundation: Slab
  • Roof: Asphalt Shingle
  • Construction materials: Brick

Type & Style

  • Home type: Condo
  • Property subType: Condominium

Interior

Appliances

  • Appliances included: None,Electric Water Heater

Bedrooms & Bathrooms

  • Bedrooms: 1
  • Bathrooms: 1
  • Full bathrooms: 1

Features

  • Flooring: Laminate/LVP

Heating & Cooling

  • Heating features: Baseboard
  • Cooling features: Wall/Window Unit(s)

Interior Area

  • Total interior livable area: 605 sqft

Property

Details

  • Parcel number: 24780825
  • Attached to another structure: Yes
  • Special condition: Bank Repo,Govt Owned

Features

  • Stories: 1
  • Pool features: None
  • Fencing: None
  • Waterfront features: Not Waterfront

Lot

  • Lot size: 840.71 sqft

Parking

  • Total spaces: 1
  • Parking features: 1 Space

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Tsunami

FEMA Declared Disasters Across Virginia Counties

Flood
Severe Storm
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $632$7,584
Home Insurance *$69$828
Property Taxes $132$1,584
Electricity $202$2,433
Total$1,035$12,420
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

30% on housingRecommended$41,400/yr
35% on housing$35,485/yr
40% on housing$31,050/yr
45% on housing$27,600/yr

Virginia FAIR Plan Programs

Virginia Property Insurance Association

Covered
WildfireWildfire
Visit Website →
Current Policies
Residential: 22,622Commercial: 503
Total Premiums$20.86M
Total Exposure$4.29B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 6.0%
6.0%
0%30.0%
Electricity Growth Rate10-year average: 7.8%
7.8%
0%15.0%
Property Taxes Growth Rate2-year average: 2.4%
2.4%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$207This listing

vs Other Active Listings

Avg $/sqft

ZIP 23503$197
Norfolk City$181

vs Homes Sold Last Month

Median $/sqft

ZIP 23503$213
Norfolk City$200

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

No price history available

For Sale by Agent

AgentJonathan Melvin
BrokerageBenham Real Estate LLC
View on Zillow

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