1716 Blair Ave · Norfolk, VA 23509

$293,000

4 bd · 2.0 ba · 1,554 sqft · SingleFamily public records · 43 Days on market

Built 1942 $189/sqft · 15% below area Est $346k · 15% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +14.3/15.0
• Cash flow +10.8/30.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• DSCR +3.1/10.0
• 1% rule +2.9/10.0
• Appreciation +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks

4-bedroom Cape Cod featuring a detached garage and a cozy sunroom. This home is filled with potential. Each spacious bedroom invites natural light. Bring your creativity to add your personal touch. Located in a neighborhood with easy access to schools, parks, and shopping. Schedule your appointment today!

Key facts

• Cozy sunroom
• Detached garage
• Easy access to parks

Tags

• DETACHED GARAGE
• COZY SUNROOM
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO PARKS
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Two parking spaces; Driveway spaces; On-street parking available; Multi-car parking
• Utilities: City/County water; City/County sewer; Electric water heater; Natural gas available
• Home design: Detached single-family Cape Cod; Two stories; Two living levels; Simple ownership
• Construction: Asphalt shingle roof; Crawl foundation
• Exterior features: Vinyl siding; Chain link fence

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Master bedroom (includes bath); First-floor master bedroom; Bedroom with full bathroom on first floor; Additional bedroom
• Flooring: Ceramic; Wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced hot air heating (natural gas); Central air conditioning
• Interior features: Ceramic and wood flooring; Assigned storage; Sun room; Breakfast area
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $293k.

Deal economics

• At list price, monthly cash flow is $-559 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (33.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (20.6% below list).
• Recommended offer: $194k (33.7% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 4.0% in Norfolk — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#43 in VA, #1,026 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F.
• Norfolk City Public School District (urban): math 27% / reading 56% proficiency, ranked #118 of 131 in VA (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lindenwood Elementary (math 8% / reading 32%, grade F, #1,082 of 1,108 statewide, top 98%, 262 students, 98% FRL); Matthew Fontaine Maury High (math 46% / reading 90%, grade B, #180 of 319 statewide, top 57%, 1,697 students, 96% FRL) — zoned schools average 97% FRL vs 59% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+14.0%/yr); 77 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).
• This rent runs 38% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($284k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,190 (33.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 10.5

CMA / ARV

• ARV (median comp): $345,500
• List price: $293,000
• Delta: -15.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3022 Lorraine Ave	0.20mi	4/2.0	1,667 (+7%)	1mo	$425,000	$255	78
3020 Vimy Ridge Ave	0.34mi	4/2.5	1,450 (-7%)	2mo	$317,000	$219	70
3018 Lorraine Ave	0.19mi	5/2.0 (+1)	1,709 (+10%)	0mo	$325,000	$190	69
2629 Bapaume Ave	0.42mi	3/2.0 (-1)	1,500 (-4%)	2mo	$320,000	$213	68
3109 Saint Mihiel Ave	0.52mi	3/1.5 (-1)	1,571 (+1%)	2mo	$290,750	$185	65
1750 Hancock Ave	0.15mi	3/2.0 (-1)	1,334 (-14%)	1mo	$360,000	$270	63
2701 Vimy Ridge Ave	0.32mi	3/2.0 (-1)	1,400 (-10%)	1mo	$310,000	$221	62
1891 Barre St	0.65mi	4/3.0	1,520 (-2%)	1mo	$325,000	$214	61
912 Lindenwood Ave	0.47mi	3/2.5 (-1)	1,628 (+5%)	2mo	$301,500	$185	61
822 Pollard St	0.58mi	3/2.0 (-1)	1,494 (-4%)	0mo	$290,600	$195	61
3217 Verdun Ave	0.73mi	3/2.0 (-1)	1,584 (+2%)	1mo	$313,500	$198	57
2721 Argonne Ave	0.52mi	3/2.5 (-1)	1,680 (+8%)	1mo	$365,000	$217	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.14×
• Total profit: $-70,538
• Equity at exit: $43,687

10-year hold

• IRR: -7.8%
• Equity multiple: 0.39×
• Total profit: $-50,237
• Equity at exit: $25,333

Cash invested: $82,040 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23509

• Home prices YoY: -1.3%
• Rents YoY: 14.0%
• Active inventory: 77
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,328 high
• Mortgage (P&I): −$1,537
• Tax from tax record: −$313 /mo · $3,755/yr
• Insurance: −$122
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $-559

Break-even live

Break-even rent $3,036

Max offer price $194,190

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $73,250
• Closing costs: $8,790
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 Saint Denis Ave Unit 3 Norfolk, VA	4.0	2.0	1500	$2,400	$1.60	23d	1	0.13mi
1714 Bellevue Ave Norfolk, VA	3.0	1.5	1500	$1,799	$1.20	43d	1	0.24mi
2729 Somme Ave Norfolk, VA	3.0	2.5	1524	$2,295	$1.51	14d	1	0.25mi
1801 Lasalle Ave Norfolk, VA	3.0	1.0	1102	$1,880	$1.71	44d	1	0.36mi
1751 Fontainebleau Cres Norfolk, VA	3.0	2.0	1231	$2,350	$1.91	43d	1	0.40mi
2914 Peronne Ave Norfolk, VA	4.0	2.0	1764	$2,495	$1.41	23d	1	0.42mi
2529 Tidewater Dr Norfolk, VA	3.0	2.5	2025	$2,370	$1.17	23d	1	0.44mi
2605 Bapaume Ave Norfolk, VA	3.0	2.0	2004	$2,295	$1.15	43d	1	0.46mi
3301 Vimy Ridge Ave Norfolk, VA	4.0	2.0	1300	$2,150	$1.65	4d	1	0.53mi
2201 Pershing Ave Norfolk, VA	3.0	2.5	1455	$2,250	$1.55	4d	1	0.55mi
881 Rugby St Norfolk, VA	3.0	2.0	1600	$2,650	$1.66	23d	1	0.58mi
907 Rugby St Norfolk, VA	3.0	2.0	1515	$2,200	$1.45	43d	1	0.58mi
2660 Chesapeake Blvd Norfolk, VA	3.0	2.0	1375	$2,100	$1.53	17d	1	0.64mi
3414 Tidewater Dr Norfolk, VA	4.0	2.5	2200	$3,000	$1.36	43d	1	0.69mi
3126 Marne Ave Norfolk, VA	5.0	2.0	1943	$3,000	$1.54	43d	1	0.72mi
2815 Keller Ave Norfolk, VA	3.0	2.0	1210	$2,250	$1.86	4d	1	0.76mi
764 B Ave Norfolk, VA	3.0	2.5	1380	$1,795	$1.30	20d	1	0.82mi
3521 Brest Ave Norfolk, VA	3.0	2.0	1234	$2,300	$1.86	43d	1	0.84mi
766 A Ave Norfolk, VA	5.0	2.0	1544	$1,400	$0.91	43d	1	0.84mi
830 Lexington St Norfolk, VA	3.0	2.5	1804	$1,950	$1.08	43d	1	0.89mi
4010 Holly Ave Unit 2 Norfolk, VA	3.0	1.0	1400	$1,700	$1.21	43d	1	0.91mi
1449 Proescher St Norfolk, VA	3.0	1.5	1400	$1,550	$1.11	23d	1	0.92mi
3805 Granby St Unit D Norfolk, VA	3.0	2.5	1911	$2,500	$1.31	23d	1	0.92mi
2531 Vincent Ave Norfolk, VA	3.0	2.0	1600	$2,195	$1.37	43d	1	0.99mi
325 W 31st St Unit 6 Norfolk, VA	3.0	1.0	1400	$1,750	$1.25	23d	1	1.04mi
400 W 30th St Norfolk, VA	3.0	1.5	1120	$1,985	$1.77	43d	1	1.07mi
410 W 29th St Norfolk, VA	4.0	2.0	2001	$2,500	$1.25	14d	1	1.11mi
407 Pennsylvania Ave Norfolk, VA	4.0	2.5	2200	$3,200	$1.45	43d	1	1.12mi
1403 Lead St Norfolk, VA	4.0	2.5	1854	$2,550	$1.38	43d	1	1.12mi
426 W 28th St Norfolk, VA	3.0	3.0	2034	$2,850	$1.40	17d	1	1.16mi
3640 Robin Hood Rd Norfolk, VA	4.0	2.5	1400	$2,999	$2.14	17d	1	1.16mi
417 W 27th St Unit F Norfolk, VA	3.0	2.0	1200	$1,600	$1.33	14d	1	1.16mi
417 W 27th St Unit F Norfolk, VA	3.0	2.0	1200	$1,600	$1.33	21d	1	1.16mi
3653 Nottaway St Norfolk, VA	3.0	1.5	1564	$2,200	$1.41	17d	1	1.25mi
3504 Chesapeake Blvd Norfolk, VA	3.0	2.0	1624	$1,995	$1.23	23d	1	1.26mi
3504 Chesapeake Blvd Norfolk, VA	3.0	2.0	1624	$1,995	$1.23	43d	1	1.26mi
527 Maryland Ave Norfolk, VA	3.0	1.0	1200	$2,000	$1.67	43d	1	1.28mi
3541 Chesapeake Blvd Norfolk, VA	5.0	1.0	1476	$1,275	$0.86	7d	1	1.30mi
630 W 36th St Norfolk, VA	4.0	1.5	1650	$2,200	$1.33	23d	1	1.37mi
4511 Newport Ave Unit 4511 -A Norfolk, VA	4.0	3.0	2068	$2,600	$1.26	43d	1	1.39mi

Listing history 37 events

1. 2026-06-18
   days on market $293,000 Active 43 DOM
2. 2026-06-17
   days on market $293,000 Active 42 DOM
3. 2026-06-16
   days on market $293,000 Active 41 DOM
4. 2026-06-15
   days on market $293,000 Active 40 DOM
5. 2026-06-13
   days on market $293,000 Active 38 DOM
6. 2026-06-09
   days on market $293,000 Active 34 DOM
7. 2026-06-08
   days on market $293,000 Active 33 DOM
8. 2026-06-07
   days on market $293,000 Active 32 DOM
9. 2026-06-03
   days on market $293,000 Active 28 DOM
10. 2026-06-02
    days on market $293,000 Active 27 DOM
11. 2026-06-01
    days on market $293,000 Active 26 DOM
12. 2026-05-31
    days on market $293,000 Active 25 DOM
13. 2026-05-06
    listed $293,000 Active 307-char remark
14. 2025-12-31
    historical
15. 2025-09-01
    historical $850
16. 2025-08-29
    listed $300,000 Active
17. 2025-04-17
    listed $850
18. 2025-02-02
    historical $2,200
19. 2024-10-18
    historical
20. 2024-09-19
    listed $2,200
21. 2024-06-21
    listed $300,000 Active
22. 2024-03-12
    historical $2,400
23. 2024-02-28
    listed $2,400
24. 2022-01-03
    soldstatus $260,000
25. 2021-12-31
    historical
26. 2021-09-29
    status Under Contract
27. 2021-09-17
    historical Active Under Contract
28. 2021-09-13
    price $250,000
29. 2021-09-03
    listed $259,999 Active
30. 2019-12-06
    soldstatus $205,000
31. 2019-11-11
    status Under Contract
32. 2019-11-04
    historical Active Under Contract
33. 2019-08-22
    status Active
34. 2019-08-02
    historical Active Under Contract
35. 2019-07-15
    listed $209,900 Active
36. 2008-08-20
    soldstatus $199,900
37. 1998-05-12
    soldstatus $78,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $3,755 · $313/mo
• Projected year-2 tax: $3,755 · $313/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 94% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,930
• − Mortgage interest: −$16,413
• − Property taxes: −$3,755
• − Insurance: −$6,584
• − Repairs & maintenance: −$2,234
• − Management: −$2,234
• − Depreciation: −$8,524
• Taxable loss: −$11,813
• Est. tax savings @ 24.0%: +$2,835
• After-tax cash flow: $-3,877/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Norfolk City Public School District
• NCES district ID: 5102670
• Math proficiency: 27% ▼ -44.00%
• Reading proficiency: 56% ▼ -10.00%
• Median HH income: $44,358
• Composite: 35.08/100
• National rank: #5026
• State rank: #118 of 131 in VA

Livability — Norfolk

• Score: 83/100
• State rank: #43
• US rank: #1026

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime F Employment C- Housing A Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norfolk, VA
• County: Norfolk City · 214,042 people
• City population: 214,042
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 13,105
• Household income: $72,816
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 575.0

Population outlook (Norfolk County) Hauer SSP2

• Today (2025): 249,032 people
• By 2030: 252,347 · +1.3%
• By 2040: 253,644 · +1.9%
• By 2050: 251,913 · +1.2%
• By 2075: 245,281 · -1.5%
• By 2100: 219,548 · -11.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 44% Black 39% Hispanic / Latino 9% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 4% Serbian 2% Romanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Norfolk

• 2024 margin: Solid D (+41.5) · D 70.0% · R 28.5% · Other 1.6%
• 2008→2024 swing: -1.4pp toward R · 2008: 43.0pp · 2024: 41.5pp
• All cycles: 2024: D+41.5 2020: D+45.6 2016: D+42.0 2012: D+44.0 2008: D+43.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.16%
• Current HPI: 321.56
• Rent YoY: ▲ 13.99%
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+271.4% since first listed

25 events — show timeline

• 2026-05-06 Listed $293,000 REINMLS
• 2025-12-31 Listing Removed — REINMLS
• 2025-09-01 Rental Removed $850 REINMLS
• 2025-08-29 Listed $300,000 REINMLS
• 2025-04-17 Listed for Rent $850 REINMLS
• 2025-02-02 Rental Removed $2,200 REINMLS
• 2024-10-18 Listing Removed — REINMLS
• 2024-09-19 Listed for Rent $2,200 REINMLS
• 2024-06-21 Listed $300,000 REINMLS
• 2024-03-12 Rental Removed $2,400 TURBOTENANT
• 2024-02-28 Listed for Rent $2,400 TURBOTENANT
• 2022-01-03 Sold (Public Records) $260,000 Public Records
• 2021-12-31 Listing Removed — REINMLS
• 2021-09-29 Pending — REINMLS
• 2021-09-17 Contingent — REINMLS
• 2021-09-13 Price Changed $250,000 REINMLS
• 2021-09-03 Listed $259,999 REINMLS
• 2019-12-06 Sold (Public Records) $205,000 Public Records
• 2019-11-11 Pending — REINMLS
• 2019-11-04 Contingent — REINMLS
• 2019-08-22 Relisted — REINMLS
• 2019-08-02 Contingent — REINMLS
• 2019-07-15 Listed $209,900 REINMLS
• 2008-08-20 Sold (Public Records) $199,900 Public Records
• 1998-05-12 Sold (Public Records) $78,900 Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,755 · +9.5% YoY. Source: county tax records.