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Rent Holds at $2,700; 26 Comps Confirm
Updated 7 days ago • 6 new comps
Your Investment Paths
Turnkey Rental
This property shows promising rental potential in the Chesapeake market. With estimated monthly income ranging from $2,420 to $2,710, it offers a solid foundation for investors seeking steady cash flow from a three-bedroom residential unit. Market trends indicate strong demand for similar properties in the 23322 area. By aligning your pricing with the $2,551 median rent estimate, you can maximize occupancy while remaining competitive against comparable nearby rentals in this sector.
More about this home
Neighborhood Assessment
Hillwell Road sits in Chesapeake's 23322 zip, a sweet spot in this family-friendly city blending suburban calm with coastal vibes. You've got easy highway access for commutes to Norfolk or Virginia Beach, plus nearby parks and waterways for outdoor fun—think hiking or kayaking. The area's got that tight-knit community feel, good schools, and amenities like shopping nearby. Well, it's no wonder folks love the quality of life here; infrastructure's solid, keeping things convenient without the big-city hassle. Traffic can snag during peaks, but overall, this neighborhood's walkability and natural surroundings make it appealing for buyers seeking balance.
Market Activity
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Rental Income
$31K
Yield
—
Year 1 Estimates
Fix-and-Flip
Modernizing your home creates a fresh, inviting atmosphere that resonates with buyers. While market pricing fluctuates, these updates significantly improve livability, potential rental income of $2,703, and the overall appeal of your 1,600-square-foot space. The current price per square foot sits at $259 for updated homes compared to $268 for the baseline. While the -3.4% difference suggests focusing on high-impact renovations that prioritize personal enjoyment and long-term property pride.
Comps
26
Buy-Rehab-Rent
This property offers a promising post-renovation value between $396,000 and $437,000. With a solid projected rental income of $2,703 per month, the asset provides steady cash flow potential in a competitive local market. The 7.8% yield reflects a practical investment opportunity for long-term growth. Given the market appreciation trends, this BRR strategy stands as a reliable path for building equity while maintaining strong monthly rental performance.
Rental Income
$32K
Yield
7.8%
Appreciation
$11K
Year 1 Estimates, Post Typical Renovation
Asking price
$380K
716B Hillwell Road, Chesapeake Investment Report: Flip & Rental Analysis · Frontflip