3101 Bapaume Ave · Norfolk, VA 23509

$350,000

5 bd · 2.5 ba · 1,998 sqft · SingleFamily public records · 6 Days on market

Built 1952 $175/sqft · at area comps Est $347k · at est.

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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).

• Cash flow +11.0/30.0
• ARV discount +7.1/15.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• DSCR +3.2/10.0
• Appreciation +2.9/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this beautifully remodeled 4-bedroom, 2-bathroom Cape Cod that perfectly blends classic charm with modern updates. Every detail has been thoughtfully upgraded, making this home completely move-in ready. Step inside to find a bright and inviting layout featuring a brand-new kitchen with updated cabinetry, countertops, and stainless steel appliances. Both bathrooms have been fully renovated with stylish finishes, offering a fresh and modern feel throughout. Come see this turn-key home today!

Key facts

• 2 parking spots
• Built 1952
• Listed 6 days

Property features AI

Finance

• Other: Simple ownership
• HOA & community: No HOA fees reported

Exterior

• Parking: Carport with space for 2 vehicles
• Utilities: City water; City sewer; Electric power
• Home design: Detached home; Cape Cod / Traditional style; 2 stories; Crawl foundation
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Full fence

Interior

• Kitchen: Dishwasher; Microwave; Electric range; Refrigerator; Breakfast area
• Bedrooms: Master bedroom; Master bedroom on first floor; Additional bedroom
• Flooring: Laminate
• Bathrooms: Two full bathrooms; Full bathroom on first floor
• Heating & cooling: Heat pump; Central air
• Interior features: Cable hookup; Ceiling fan; One fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Utility room; Electric water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-145 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $324k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (22.2% below list).
• Recommended offer: $272k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: Lindenwood Elementary (math 8% / reading 32%, grade F, #1,082 of 1,108 statewide, top 98%, 262 students, 98% FRL); Azalea Gardens Middle (math 21% / reading 54%, grade F, #315 of 342 statewide, top 93%, 848 students, 84% 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 93% FRL vs 59% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+14.0%/yr); 82 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 45% 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 $10k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.
• Current owner paid $196k; list at $350k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $272,454 (22.2% 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. Built in 1952 — 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. 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?
7. 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.
8. 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.
9. 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: 0.78% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 10.7

CMA / ARV

• ARV (median comp): $347,032
• List price: $350,000
• Delta: 0.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2924 Somme Ave	0.20mi	4/2.5 (-1)	2,050 (+3%)	2mo	$402,000	$196	80
1734 Lasalle Ave	0.31mi	4/2.5 (-1)	2,100 (+5%)	0mo	$445,000	$212	72
2200 Lafayette Blvd	0.11mi	4/3.0 (-1)	1,809 (-10%)	4mo	$350,000	$193	69
2830 Vincent Ave	0.47mi	4/2.5 (-1)	2,000 (+0%)	5mo	$350,000	$175	69
2729 Vimy Ridge Ave	0.38mi	4/2.0 (-1)	2,086 (+4%)	4mo	$255,000	$122	65
2908 Tait Ter	0.66mi	4/3.0 (-1)	1,994 (-0%)	2mo	$329,900	$165	60
3018 Lorraine Ave	0.30mi	5/2.0	1,709 (-14%)	0mo	$325,000	$190	60
1740 Hancock Ave	0.51mi	4/2.0 (-1)	1,908 (-4%)	4mo	$370,000	$194	58
3012 Ballentine Blvd	0.47mi	4/2.0 (-1)	1,840 (-8%)	2mo	$325,000	$177	57
3122 Montana Ave	0.73mi	4/2.5 (-1)	1,946 (-3%)	6mo	$300,000	$154	52
1455 Ashland Cir	0.67mi	5/2.0	2,215 (+11%)	1mo	$435,000	$196	48
2509 Cottage Ave	0.75mi	4/2.5 (-1)	2,250 (+13%)	6mo	$327,500	$146	34

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: -14.1%
• Equity multiple: 0.47×
• Total profit: $-51,611
• Equity at exit: $52,186

10-year hold

• IRR: 1.0%
• Equity multiple: 1.09×
• Total profit: $8,532
• Equity at exit: $30,262

Cash invested: $98,000 (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: 82
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,725 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$317 /mo · $3,798/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $-145

Break-even live

Break-even rent $2,909

Max offer price $324,314

Occupancy floor —

Sensitivity live

Price	-10% $53	-5% $-46	+0% $-145	+5% $-244	+10% $-344
Rent	-10% $-361	-5% $-253	+0% $-145	+5% $-38	+10% $70
Rate	-1.0pp $31	-0.5pp $-56	base $-145	+0.5pp $-236	+1.0pp $-328

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2914 Peronne Ave Norfolk, VA	4.0	2.0	1764	$2,495	$1.41	25d	1	0.22mi
3301 Vimy Ridge Ave Norfolk, VA	4.0	2.0	1300	$2,150	$1.65	6d	1	0.24mi
1801 Saint Denis Ave Unit 3 Norfolk, VA	4.0	2.0	1500	$2,400	$1.60	25d	1	0.28mi
3126 Marne Ave Norfolk, VA	5.0	2.0	1943	$3,000	$1.54	45d	1	0.34mi
3414 Tidewater Dr Norfolk, VA	4.0	2.5	2200	$3,000	$1.36	45d	1	0.44mi
3114 Luxembourg Ave Norfolk, VA	4.0	2.5	2300	$3,100	$1.35	19d	1	0.51mi
2537 McKann Ave Norfolk, VA	4.0	2.5	2321	$2,695	$1.16	16d	1	0.73mi
3640 Robin Hood Rd Norfolk, VA	4.0	2.5	1400	$2,999	$2.14	19d	1	0.75mi
3541 Chesapeake Blvd Norfolk, VA	5.0	1.0	1476	$1,275	$0.86	9d	1	0.89mi
3776 Wayne Cir Norfolk, VA	4.0	3.0	2301	$2,795	$1.21	45d	1	1.10mi
3239 Granby St Norfolk, VA	4.0	3.5	2350	$2,600	$1.11	14d	1	1.17mi
766 A Ave Norfolk, VA	5.0	2.0	1544	$1,400	$0.91	45d	1	1.20mi
212 Broadway St Norfolk, VA	4.0	2.5	2349	$2,900	$1.23	19d	1	1.24mi
212 Broadway St Norfolk, VA	4.0	2.5	2350	$2,800	$1.19	16d	1	1.24mi
1403 Lead St Norfolk, VA	4.0	2.5	1854	$2,550	$1.38	45d	1	1.24mi
220 Broadway St Norfolk, VA	4.0	3.0	2540	$3,500	$1.38	45d	1	1.26mi
219 W 27th St Norfolk, VA	5.0	3.5	2268	$2,900	$1.28	25d	1	1.38mi
407 Pennsylvania Ave Norfolk, VA	4.0	2.5	2200	$3,200	$1.45	45d	1	1.41mi
410 W 29th St Norfolk, VA	4.0	2.0	2001	$2,500	$1.25	16d	1	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $350,000 Active 6 DOM
2. 2026-06-18
   days on market $350,000 Active 3 DOM
3. 2026-06-17
   days on market $350,000 Active 2 DOM
4. 2026-06-16
   statusdays on marketlisting id $350,000 Active 1 DOM
5. 2026-05-11
   historical Active Under Contract 508-char remark
6. 2026-05-08
   price $350,000 508-char remark
7. 2026-04-28
   status Active 508-char remark
8. 2026-04-20
   historical Active Under Contract 508-char remark
9. 2026-04-14
   price $360,000 508-char remark
10. 2026-04-02
    price $370,000 508-char remark
11. 2026-03-23
    listed $375,000 Active 508-char remark
12. 2025-11-21
    soldstatus $196,000
13. 2014-07-28
    soldstatus $160,300
14. 2014-06-12
    price $154,900 Active
15. 2014-05-13
    price $159,900 Active
16. 1983-09-30
    soldstatus $48,800
17. 1979-12-04
    soldstatus $40,000

ⓘ 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: $3,798 · $317/mo
• Projected year-2 tax: $3,798 · $317/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 ≥105°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: $32,694
• − Mortgage interest: −$19,605
• − Property taxes: −$3,798
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,616
• − Management: −$2,616
• − Depreciation: −$10,182
• Taxable loss: −$7,872
• Est. tax savings @ 24.0%: +$1,889
• After-tax cash flow: $144/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

+775.0% since first listed

16 events — show timeline

• 2026-06-15 Listed $350,000 REINMLS
• 2026-05-27 Pending — REINMLS
• 2026-05-11 Contingent — REINMLS
• 2026-05-10 Listing Removed — REINMLS
• 2026-05-08 Price Changed $350,000 REINMLS
• 2026-04-28 Relisted — REINMLS
• 2026-04-20 Contingent — REINMLS
• 2026-04-14 Price Changed $360,000 REINMLS
• 2026-04-02 Price Changed $370,000 REINMLS
• 2026-03-23 Listed $375,000 REINMLS
• 2025-11-21 Sold (Public Records) $196,000 Public Records
• 2014-07-28 Sold (Public Records) $160,300 Public Records
• 2014-06-12 Price Changed $154,900 REINMLS
• 2014-05-13 Price Changed $159,900 REINMLS
• 1983-09-30 Sold (Public Records) $48,800 Public Records
• 1979-12-04 Sold (Public Records) $40,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $3,798 · +10.2% YoY. Source: county tax records.