6-Unit Brick Duplex
1008 Ohio Street, Chesapeake, VA 23324
For Sale
New
$268,900
Multi Family Residential, Over/Under, Chesapeake, VA
Property Size945 SF
Price / SF$284.55
Days on Market5
Property Features for 1008 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
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# 10661220
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.
This Chesapeake property comprises three brick duplexes with six occupied residences. Each home has two bedrooms, one bathroom, a living room, pantry, and eat-in kitchen, along with a front porch. The buildings date to 1964 and have shingle roofs.
Off-street parking is provided in a private lot, and the property includes backyard space. Located at 1008 Ohio Street, the asset is zoned RSFA1.
Off-street parking is provided in a private lot, and the property includes backyard space. Located at 1008 Ohio Street, the asset is zoned RSFA1.
Key Highlights
- Three brick duplexes comprising six occupied residences
- Each two‑story residence has two bedrooms and one bathroom
- Living room, pantry, eat‑in kitchen, and front porch in each home
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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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 - Three occupied, two-story brick duplexes offer private parking and backyard areas.
Where is this duplex located?
The property is located at 1008 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 comprising six occupied residences; Each two‑story residence has two bedrooms and one bathroom; Living room, pantry, eat‑in kitchen, and front porch in each home
