6-Unit Brick Duplex
1000 Ohio Street, Chesapeake, VA 23324
For Sale
New
$268,900
Multi Family Residential, Side by Side, Chesapeake, VA
Property Size945 SF
Price / SF$284.55
Days on Market5
Property Features for 1000 Ohio Street
General Information
Property type
Property subtype
Zoning
Subdivision
Lot features
Elementary school
Middle school
Standard status
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Amenities
front porches
private off-street parking
backyard space
Building Details
Year built
Roof type
Architectural style
Buildings
Listing Agency:
Shaffer Realty LLC
Listed By:
Greg Covington
(757) 468-5000
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# 10661181
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Three matching brick duplexes comprise six occupied residences, each arranged across two stories. Every unit has two bedrooms, one bathroom, a living room, pantry, and eat-in kitchen. The properties also include front porches and private off-street parking, with backyard space behind the buildings. Each property is listed at 945 square feet, and the year built is 1964.
The properties are in South Norfolk, within Chesapeake, Virginia. Zoning is RSFA1. Selected units present opportunities for improvements, while the current occupied status provides an established rental operation.
The properties are in South Norfolk, within Chesapeake, Virginia. Zoning is RSFA1. Selected units present opportunities for improvements, while the current occupied status provides an established rental operation.
Key Highlights
- Three brick duplexes with six occupied units
- Each residence has 2 bedrooms, 1 bathroom, and a two‑story layout
- 945 square feet; built in 1964
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,704
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,080
$214.1K
Cap Rate 7%
$152,914
$152.9K
Cap Rate 9%
$118,933
$118.9K
Market Conditions
NOI Build-Up for 945 SF
Gross rent
$16.4K $17.40/SF
− Vacancy
−$1.2K −$1.22/SF
EGI
$15.3K $16.18/SF
− OpEx
−$4.6K −$4.85/SF
NOI
$10.7K $11.33/SF
Area
Chesapeake, VA
Vacancy
7.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,080
Cap Rate 7%
$152,914
Cap Rate 9%
$118,933
Alternative Uses
Best Use
Multifamily LT 5
$152.9K
$133.8K – $178.4K
NOI $10,704 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$137.5K
$120.3K – $160.4K
NOI $9,622 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$279.3K
$244.4K – $325.8K
NOI $19,550 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 23324, VA
24,239
Population
9,834
Households
2.5
Avg Household Size
34
Median Age
21%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,618
Density / Sq Mi
$57,774
Median Household Income
$39,642
Median Earnings
$1,145
Median Rent
$242,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - All six residences are occupied, with private off-street parking and backyard space.
Where is this duplex located?
The property is located at 1000 Ohio Street Chesapeake, VA.
What is the asking price?
The asking price for this property is $268,900.
What are key features of this property?
This property features: Three brick duplexes with six occupied units; Each residence has 2 bedrooms, 1 bathroom, and a two‑story layout; 945 square feet; built in 1964
