503 E Lake CirChesapeakeVA23322
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 503 E Lake Cir, Chesapeake, VA, 23322 in Chesapeake speaks for itself: 10.25% gross on a $265,000 price, generating $2,264/mo in rent and $680/mo in net income after the $1,192/mo debt service. DSCR 1.90, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $8,163 stacks alongside $73,215 in projected five-year appreciation and $2,441/yr in principal reduction. Projected total cumulative return: $143,959.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 6.0% |
| Monthly Cash Flow | $680 | $1,850 |
City averages based on Chesapeake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,264 |
| Total Monthly Debt Service | $1,479 |
| DSCR Ratio | 1.53x |
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.
Condo
Built in 1987
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23322, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,832 (100%) |
| Owner Occupied HU | 19,301 (84.5%) |
| Renter Occupied HU | 3,054 (13.4%) |
| Vacant Housing Units | 477 ( 2.1%) |
| Median Home Value | $510,303 |
| Average Home Value | $550,245 |
Housing Distribution
Address Breakdown
Residential
23,013
Single Family
22,470
Multi-Family
543
Businesses
841
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
Condo
Built in 1987
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23322, Chesapeake, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,832 (100%) |
| Owner Occupied HU | 19,301 (84.5%) |
| Renter Occupied HU | 3,054 (13.4%) |
| Vacant Housing Units | 477 ( 2.1%) |
| Median Home Value | $510,303 |
| Average Home Value | $550,245 |
Housing Distribution
Address Breakdown
Residential
23,013
Single Family
22,470
Multi-Family
543
Businesses
841
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Emily Cockrell • Lee S Halyard & Assoc Realtor
Mls Name: REIN Inc.
Mls ID: #10594349