320 W 27th St · Norfolk, VA 23517

$179,900

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 34 Days on market

Built 1921 5,227 sqft lot Est $254k · 29% under

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Why this score? — see what drove the C 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).

• Cash flow +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special! Strictly AS-IS sale. Cash Buyers Only — non assignable. Incredible opportunity for an investor or rehab buyer with vision. Estimated ARV approximately $390,000! Property offers strong upside potential with a large backyard that could accommodate an addition, creating the possibility for an open-concept floor plan and first-floor primary suite. Upstairs layout also offers flexibility to combine two bedrooms into a larger secondary primary suite. Driveway has potential to be expanded into a two-car driveway, adding future resale appeal. Basement provides additional storage space. Great opportunity to reconfigure and modernize the layout into a highly desirable finished

Key facts

• Upstairs layout
• Two-car driveway
• Large backyard

Tags

• LARGE BACKYARD
• UPSTAIRS LAYOUT
• TWO-CAR DRIVEWAY
• ADDITIONAL STORAGE SPACE

Property features AI

Finance

• Other: Property listed as a fixer upper
• HOA & community: No HOA fees

Exterior

• Parking: 1 parking space
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached traditional-style home; 2 stories with 2 living levels; Basement foundation
• Construction: Aluminum exterior siding; Slate roof; Basement foundation
• Exterior features: Aluminum siding; Privacy wood fence; Slate roof; Lot dimensions approximately 50 x 107 (0.12 acres)

Interior

• Bedrooms: No bedroom with full bathroom on the first floor
• Flooring: Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Vinyl and wood flooring; Front porch

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (2.4% below list).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: James Monroe Elementary (math 8% / reading 22%, grade F, #1,098 of 1,108 statewide, top 100%, 270 students, 100% 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 98% FRL vs 59% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 32 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).
• This rent runs 31% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $119k; list at $180k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.41%
• DSCR: 1.24
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $254,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
537 W 27th St	0.21mi	3/1.5	1,170 (+4%)	1mo	$215,000	$184	80
726 W 27th St	0.39mi	3/1.5	1,089 (-3%)	4mo	$305,000	$280	72
418 W 26th St	0.08mi	2/1.0 (-1)	1,014 (-10%)	11mo	$252,500	$249	66
412 W 36th St W	0.42mi	2/1.5 (-1)	1,114 (-0%)	9mo	$134,177	$120	65
4400 Colonial Ave	0.71mi	3/1.5	1,184 (+6%)	2mo	$359,000	$303	54
2917 Leo St	0.57mi	2/1.0 (-1)	1,046 (-7%)	6mo	$120,000	$115	53
609 Virginia Ave	0.64mi	3/1.5	1,216 (+9%)	8mo	$270,000	$222	48
4000 Mayflower Rd	0.68mi	3/2.0	1,164 (+4%)	12mo	$305,000	$262	48
518 Maryland Ave	0.67mi	3/1.5	1,236 (+10%)	11mo	$255,000	$206	40
1028 W 36th St	0.74mi	3/2.0	1,215 (+8%)	11mo	$324,900	$267	38
843 W 37th St	0.65mi	3/2.0	1,262 (+13%)	8mo	$262,500	$208	38
3605 Killam Ave	0.70mi	3/2.0	1,275 (+14%)	11mo	$289,000	$227	31

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-13,927
• Equity at exit: $26,824

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $9,636
• Equity at exit: $15,554

Cash invested: $50,372 (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 23517

• Home prices YoY: -20.0%
• Rents YoY: 3.4%
• Active inventory: 32
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,756 high
• Mortgage (P&I): −$943
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $227

Break-even live

Break-even rent $1,468

Max offer price $179,900

Occupancy floor 82%

Sensitivity live

Price	-10% $329	-5% $278	+0% $227	+5% $176	+10% $125
Rent	-10% $88	-5% $158	+0% $227	+5% $297	+10% $366
Rate	-1.0pp $318	-0.5pp $273	base $227	+0.5pp $181	+1.0pp $133

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 W 27th St Unit F Norfolk, VA	3.0	2.0	1200	$1,600	$1.33	22d	1	0.05mi
417 W 27th St Unit F Norfolk, VA	3.0	2.0	1200	$1,600	$1.33	15d	1	0.05mi
309 W 26th St Unit A Norfolk, VA	2.0	1.0	900	$1,525	$1.69	18d	1	0.07mi
400 W 30th St Norfolk, VA	3.0	1.5	1120	$1,985	$1.77	44d	1	0.17mi
325 W 31st St Unit 6 Norfolk, VA	3.0	1.0	1400	$1,750	$1.25	24d	1	0.20mi
225 W 31st St Unit D Norfolk, VA	2.0	1.0	925	$975	$1.05	8d	1	0.24mi
415 W 32nd St Unit 1 Norfolk, VA	2.0	1.0	850	$1,325	$1.56	44d	1	0.25mi
2202 Llewellyn Ave Norfolk, VA	2.0	2.0	980	$1,971	$2.01	8d	1	0.26mi
204 W 22nd St Norfolk, VA	1.0–2.0	1.0–2.0	907	$2,065	$2.28	4d	3	0.29mi
601 W 24th St Norfolk, VA	1.0–2.0	1.0–2.0	722	$2,045	$2.83	2d	2	0.30mi
3210 Llewellyn Ave Norfolk, VA	2.0	1.0	800	$975	$1.22	44d	1	0.31mi
201 W 21st St Norfolk, VA	1.0–2.0	1.0–2.0	992	$2,199	$2.22	3d	5	0.37mi
201 W 34th St Unit 3 Norfolk, VA	2.0	1.0	750	$995	$1.33	44d	1	0.41mi
201 W 34th St Unit 7 Norfolk, VA	2.0	1.0	750	$1,099	$1.47	20d	1	0.41mi
305 W 36th St Norfolk, VA	2.0	1.0	1271	$1,495	$1.18	5d	1	0.43mi
812 W 27th St Unit 1 Norfolk, VA	2.0	1.0	750	$1,295	$1.73	8d	1	0.46mi
742 Washington Park Unit B4 Norfolk, VA	2.0	1.0	1054	$2,000	$1.90	13d	1	0.51mi
742 Washington Park Unit A5 Norfolk, VA	2.0	1.0	944	$1,450	$1.54	15d	1	0.51mi
742 Washington Park Unit A5 Norfolk, VA	2.0	1.0	994	$1,450	$1.46	18d	1	0.51mi
3601 Omohundro Ave Unit 3 Norfolk, VA	2.0	1.0	800	$1,395	$1.74	44d	1	0.52mi
3700 Gosnold Ave Unit A Norfolk, VA	2.0	1.0	700	$1,300	$1.86	24d	1	0.52mi
1512 Colonial Ave Unit B Norfolk, VA	2.0	1.0	1050	$1,575	$1.50	8d	1	0.52mi
435 Virginia Ave Norfolk, VA	2.0	2.0	1012	$1,954	$1.93	5d	1	0.58mi
810 Brandon Ave Norfolk, VA	3.0	1.0	1420	$2,350	$1.65	15d	1	0.59mi
628 Georgia Ave Norfolk, VA	3.0	2.0	1300	$2,495	$1.92	24d	1	0.60mi
832 Brandon Ave Unit A5 Norfolk, VA	2.0	1.0	875	$1,650	$1.89	24d	1	0.62mi
1323 Colonial Ave #4 Norfolk, VA	2.0	1.0	786	$2,200	$2.80	11d	1	0.63mi
731 Shirley Ave Unit 1 Norfolk, VA	3.0	1.0	1200	$1,950	$1.62	44d	1	0.63mi
912 Druid Cir Norfolk, VA	2.0	1.0	960	$1,535	$1.60	21d	1	0.63mi
912 Druid Cir Unit B Norfolk, VA	2.0	1.0	960	$1,535	$1.60	24d	1	0.63mi
819 W 38th St Unit 5 Norfolk, VA	2.0	1.0	1000	$1,200	$1.20	20d	1	0.63mi
1016 W 24th St Norfolk, VA	3.0	1.0–2.0	771	$1,655	$2.15	24d	20	0.66mi
527 Maryland Ave Norfolk, VA	3.0	1.0	1200	$2,000	$1.67	44d	1	0.66mi
2804 Waverly Way Norfolk, VA	2.0	1.0	850	$1,270	$1.49	44d	5	0.66mi
868 W 36th St Norfolk, VA	3.0	1.5	1300	$2,500	$1.92	13d	1	0.67mi
829 Spotswood Ave Unit B Norfolk, VA	3.0	2.0	1250	$2,150	$1.72	15d	1	0.67mi
1300 Stockley Gdns #206 Norfolk, VA	2.0	2.0	1000	$2,000	$2.00	11d	1	0.68mi
858 37th St Unit A Norfolk, VA	3.0	1.5	1150	$1,950	$1.70	18d	1	0.68mi
2500 Leo St Unit 2506 Leo Street-4 Norfolk, VA	2.0	1.0	800	$1,100	$1.38	44d	1	0.69mi
2504 Leo St Unit 3 Norfolk, VA	2.0	1.0	800	$1,100	$1.38	5d	1	0.69mi

Listing history 17 events

1. 2026-06-21
   days on market $179,900 Active 34 DOM
2. 2026-06-18
   days on market $179,900 Active 31 DOM
3. 2026-06-17
   days on market $179,900 Active 30 DOM
4. 2026-06-16
   days on market $179,900 Active 29 DOM
5. 2026-06-15
   days on market $179,900 Active 28 DOM
6. 2026-06-13
   days on market $179,900 Active 26 DOM
7. 2026-06-09
   days on market $179,900 Active 22 DOM
8. 2026-06-08
   days on market $179,900 Active 21 DOM
9. 2026-06-07
   days on market $179,900 Active 20 DOM
10. 2026-06-03
    days on market $179,900 Active 16 DOM
11. 2026-06-02
    days on market $179,900 Active 15 DOM
12. 2026-06-01
    days on market $179,900 Active 14 DOM
13. 2026-05-31
    days on market $179,900 Active 13 DOM
14. 2026-05-23
    historical Active Under Contract
15. 2026-05-18
    listed $239,900 Active
16. 2014-11-03
    soldstatus $119,000
17. 1963-06-17
    soldstatus $6,900

ⓘ 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: $1,700 · $142/mo
• Projected year-2 tax: $1,700 · $142/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 4/10 Moderate FEMA zone X (unshaded) · 13% 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: $21,072
• − Mortgage interest: −$10,077
• − Property taxes: −$1,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$5,233
• Taxable loss: −$210
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $2,776/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): 4,932
• Household income: $67,375
• Rent vs Own: 68.1% rent · 31.9% own
• Severe rent burden: 463.0

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 0.56)
• Race & ethnicity: White 62% Black 21% Hispanic / Latino 9% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 4% Romanian 4% Portuguese 3%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 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: ▼ -68.26%
• Current HPI: 273.4702
• Rent YoY: ▲ 3.44%
• 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

+3376.8% since first listed

4 events — show timeline

• 2026-05-23 Contingent — REINMLS
• 2026-05-18 Listed $239,900 REINMLS
• 2014-11-03 Sold (Public Records) $119,000 Public Records
• 1963-06-17 Sold (Public Records) $6,900 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,700 · +3.5% YoY. Source: county tax records.