8507 Fleming RdWallops IslandVA23337
INVESTMENT ANALYSIS
Investment Verdict
Solid Income8507 Fleming Rd, Wallops Island, VA, 23337 in Wallops Island is a solid income-producing rental, 9.4% gross yield, $1,488/mo rent, $352/mo net cash flow on a $190,000 buy. DSCR 1.74 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $52,494 and $1,750/yr in principal reduction project a total cumulative return of $94,611.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 6.2% |
| Monthly Cash Flow | $352 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $1,488 |
| Total Monthly Debt Service | $1,060 |
| DSCR Ratio | 1.40x |
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.
Manufactured
Built in 1985
8,750 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23337, Wallops Island, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 293 (100%) |
| Owner Occupied HU | 166 (56.7%) |
| Renter Occupied HU | 58 (19.8%) |
| Vacant Housing Units | 69 (23.5%) |
| Median Home Value | $213,889 |
| Average Home Value | $252,091 |
Housing Distribution
Address Breakdown
Residential
227
Single Family
227
Multi-Family
0
Businesses
21
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
Manufactured
Built in 1985
8,750 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23337, Wallops Island, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 293 (100%) |
| Owner Occupied HU | 166 (56.7%) |
| Renter Occupied HU | 58 (19.8%) |
| Vacant Housing Units | 69 (23.5%) |
| Median Home Value | $213,889 |
| Average Home Value | $252,091 |
Housing Distribution
Address Breakdown
Residential
227
Single Family
227
Multi-Family
0
Businesses
21
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sandy Daisey • COLDWELL BANKER HARBOUR REALTY
Mls Name: Eastern Shore AOR
Mls Provider:
Mls ID: #60452
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.