1024 Melton StChesapeakeVA23324
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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
Investment Highlights
Investment property for sale in Chesapeake at 1024 Melton St, Chesapeake, VA, 23324 offers a 7.14% rental yield on a $280,000 purchase with $1,667/mo rent. 83% in year one. Equity gained on principal adds $1,807/yr while 5% annual appreciation supports $77,359 over five years. Portfolio math shows five-year ROI at 102.13% and total cumulative return in cash at $94,797. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,667/mo property income against a $1,370/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1920
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23324, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,683 (100%) |
| Owner Occupied HU | 5,387 (50.4%) |
| Renter Occupied HU | 4,662 (43.6%) |
| Vacant Housing Units | 634 ( 5.9%) |
| Median Home Value | $270,429 |
| Average Home Value | $314,214 |
Housing Distribution
Address Breakdown
Residential
9,692
Single Family
9,482
Multi-Family
210
Businesses
594
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Listed by: Nichole Harrison • Prodigy Realty
Mls Name: REIN Inc.
Mls ID: #10593562