505 Fairfield DrChesapeakeVA23322
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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
Investment Highlights
Rental property for sale in Chesapeake at 505 Fairfield Dr, Chesapeake, VA, 23322 priced at $474,500 pairs $3,124/mo rent with $288/mo cash flow after a $2,322/mo payment. Total monthly income equals $3,124/mo, and annual cash flow comes to $3,456/yr on $157,297 invested. Return on cash invested is 22.11% in year one, and rental yield stands at 7.9% on a $474,500 basis. Equity gained on principal adds $3,062/yr, and 5% annual appreciation accumulates to $131,096 by year five. Five-year ROI measures 114.34% and total cumulative return in cash reaches $179,850. For financing, Ziffy Mortgage’s DSCR program evaluates $3,124/mo property income against a $2,322/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1974
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
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Listed by: Lilli Driscoll • Iron Valley Real Estate HR
Mls Name: REIN Inc.
Mls ID: #10607389