2220 Ardmore AveChesapeakeVA23324
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 2220 Ardmore Ave, Chesapeake, VA, 23324 in Chesapeake hard to pass up. The 10.41% gross yield on a $349,000 purchase results in $3,028/mo in rent and $941/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (1.93). Annual cash flow of $11,296, five-year appreciation of $96,422, and $3,214/yr in equity build-up combine for a projected total cumulative return of $192,638.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.4% | 6.0% |
| Monthly Cash Flow | $941 | $1,850 |
City averages based on Chesapeake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,028 |
| Total Monthly Debt Service | $1,947 |
| DSCR Ratio | 1.55x |
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 1959
6,577 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
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 1959
6,577 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: REIN Inc.
Mls ID: #10625996