1224 Ormer RdChesapeakeVA23325
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 1224 Ormer Rd, Chesapeake, VA, 23325 in Chesapeake: $1,596/mo in rent, $222/mo in net income, 8.33% gross yield, 1.54 DSCR, all at $229,900. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $63,517 in appreciation and $2,117/yr in principal paydown projects total cumulative return of $101,221.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 6.0% |
| Monthly Cash Flow | $222 | $1,850 |
City averages based on Chesapeake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,596 |
| Total Monthly Debt Service | $1,283 |
| DSCR Ratio | 1.24x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1962
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23325, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,192 (100%) |
| Owner Occupied HU | 4,772 (66.4%) |
| Renter Occupied HU | 2,156 (30.0%) |
| Vacant Housing Units | 264 ( 3.7%) |
| Median Home Value | $325,568 |
| Average Home Value | $395,949 |
Housing Distribution
Address Breakdown
Residential
7,264
Single Family
7,212
Multi-Family
52
Businesses
284
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1962
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23325, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,192 (100%) |
| Owner Occupied HU | 4,772 (66.4%) |
| Renter Occupied HU | 2,156 (30.0%) |
| Vacant Housing Units | 264 ( 3.7%) |
| Median Home Value | $325,568 |
| Average Home Value | $395,949 |
Housing Distribution
Address Breakdown
Residential
7,264
Single Family
7,212
Multi-Family
52
Businesses
284
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Scott See • AtCoastal Realty
Mls Name: REIN Inc.
Mls ID: #10619024