Brick Duplex
1004 Ohio Street, Chesapeake, VA 23324
For Sale
New
$268,900
Multi Family Residential, Side by Side, Chesapeake, VA
Property Size1,890 SF
Price / SF$142.28
Days on Market5
Property Features for 1004 Ohio Street
General Information
Property type
Property subtype
Zoning
Subdivision
Elementary school
Middle school
Standard status
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Amenities
front porches
generous 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# 10661200
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.
The property consists of three brick duplexes built in 1964. Each residence has two bedrooms and one bathroom, along with a living room, pantry, and eat-in kitchen. Front porches, private off-street parking, and backyard areas serve the units. The roofs are shingle. All six units are occupied, and some have potential for improvements.
Located at 1004 Ohio Street in Chesapeake, the property is zoned RSFA1. Nearby context includes area shipyards, restaurants, shopping, and entertainment.
Located at 1004 Ohio Street in Chesapeake, the property is zoned RSFA1. Nearby context includes area shipyards, restaurants, shopping, and entertainment.
Key Highlights
- Three brick duplex buildings, totaling six residences
- All six units occupied
- Each residence has two bedrooms, one bathroom, a living room, pantry, and eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,409
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,180
$428.2K
Cap Rate 7%
$305,843
$305.8K
Cap Rate 9%
$237,878
$237.9K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$32.9K $17.40/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$30.6K $16.18/SF
− OpEx
−$9.2K −$4.85/SF
NOI
$21.4K $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%
$428,180
Cap Rate 7%
$305,843
Cap Rate 9%
$237,878
Alternative Uses
Best Use
Multifamily LT 5
$305.8K
$267.6K – $356.8K
NOI $21,409 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$274.9K
$240.6K – $320.7K
NOI $19,244 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$558.6K
$488.8K – $651.7K
NOI $39,100 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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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Cap Rate, Value Estimation, Potential NOI and more
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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 each building arranged across two stories.
Where is this duplex located?
The property is located at 1004 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 duplex buildings, totaling six residences; All six units occupied; Each residence has two bedrooms, one bathroom, a living room, pantry, and eat‑in kitchen
