505 Fairfield DrChesapeakeVA23322
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThis Chesapeake rental at 505 Fairfield Dr, Chesapeake, VA, 23322 sits in the solid-income band: 7.9% gross yield, $3,124/mo rent, $287/mo net after the $2,134/mo debt service, DSCR 1.46. Entry price of $474,500 is well-calibrated for the income it produces. Ziffy Mortgage finances this type of asset on rental income alone, no tax returns, no U.S. credit profile. Projected five-year appreciation of $131,096 and $4,370/yr in principal reduction bring total cumulative return to $197,969.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 6.0% |
| Monthly Cash Flow | $287 | $1,850 |
City averages based on Chesapeake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,124 |
| Total Monthly Debt Service | $2,648 |
| DSCR Ratio | 1.18x |
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 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
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 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lilli Driscoll • Iron Valley Real Estate HR
Mls Name: REIN Inc.
Mls ID: #10607389