1608 Jackson Ave · Chesapeake, VA 23324

$255,000

3 bd · 2.0 ba · 1,388 sqft · SingleFamily public records · 37 Days on market

Built 1963 Est $255k · 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 +12.3/30.0
• ARV discount +7.6/15.0
• Schools +5.8/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Corner lot with 2 driveways (6 cars) and detached 2-car garage. Partially fenced with a deck. Located next to Lakeside park and large field. Additionally, has larger utility room for W/ D and storage. New kitchen cabinets.

Key facts

• Next to park
• New kitchen cabinets
• Corner lot

Tags

• CORNER LOT
• DETACHED GARAGE
• NEXT TO PARK
• LARGER UTILITY ROOM
• NEW KITCHEN CABINETS

Property features AI

Exterior

• Home design: Built in 1963
• Exterior features: Located in the South Norfolk subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-47 ($-560/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (20.4% below list).
• Recommended offer: $203k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.7% in Chesapeake — 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 70/100 on livability (#236 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: crime C-, cost of living C-, amenities F.
• Chesapeake City Public School District (suburban): math 58% / reading 74% proficiency, ranked #31 of 131 in VA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 116 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($57k/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 $8k of value loss. Plan a longer hold.
• Chesapeake County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $255k implies a 1278% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $202,864 (20.4% 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 37 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.80% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $255,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1531 Rodgers St	0.07mi	2/1.0 (-1)	1,273 (-8%)	1mo	$241,500	$190	73
838 Wilbur Ave	0.21mi	4/2.0 (+1)	1,500 (+8%)	2mo	$325,500	$217	70
1322 Hoover Ave	0.38mi	3/1.5	1,300 (-6%)	3mo	$224,000	$172	67
1239 Seaboard Ave	0.37mi	3/1.0	1,276 (-8%)	2mo	$115,000	$90	64
1906 Chesapeake Ave	0.22mi	3/1.5	1,567 (+13%)	3mo	$360,000	$230	64
1007 Holly Ave	0.22mi	3/2.0	1,586 (+14%)	3mo	$282,000	$178	64
1714 Seaboard Ave	0.18mi	3/1.0	1,581 (+14%)	3mo	$243,000	$154	62
1536 Bainbridge Blvd	0.31mi	3/1.0	1,233 (-11%)	2mo	$268,000	$217	61
1314 Perry St	0.45mi	3/2.5	1,524 (+10%)	1mo	$280,000	$184	60
1905 Chesapeake Ave	0.23mi	4/2.0 (+1)	1,580 (+14%)	3mo	$236,000	$149	59
1232 Stewart St	0.39mi	3/2.0	1,188 (-14%)	2mo	$190,000	$160	57
2114 Mclain St	0.46mi	3/1.5	1,196 (-14%)	4mo	$238,000	$199	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-44,331
• Equity at exit: $38,021

10-year hold

• IRR: -9.7%
• Equity multiple: 0.40×
• Total profit: $-42,587
• Equity at exit: $22,048

Cash invested: $71,400 (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 23324

• Home prices YoY: -17.3%
• Active inventory: 116
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,029 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$206 /mo · $2,469/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $-47

Break-even live

Break-even rent $2,088

Max offer price $246,758

Occupancy floor 97%

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1110 Park Ave Chesapeake, VA	3.0	2.0	1749	$2,100	$1.20	14d	1	0.21mi
1110 Park Ave Unit 23324 Chesapeake, VA	3.0	2.0	1749	$2,200	$1.26	23d	1	0.21mi
1321 Chesapeake Ave Unit B Chesapeake, VA	3.0	1.0	1000	$1,695	$1.70	23d	1	0.26mi
1333 Perry St Chesapeake, VA	2.0	1.0	1048	$1,525	$1.46	23d	1	0.40mi
1333 Perry St Chesapeake, VA	2.0	1.0	1048	$1,495	$1.43	14d	1	0.41mi
1108 Jackson Ave Chesapeake, VA	3.0	2.0	1784	$2,100	$1.18	4d	1	0.48mi
1151 Perry St Chesapeake, VA	3.0	1.0	1296	$2,000	$1.54	17d	1	0.53mi
900 Partridge Ave Chesapeake, VA	3.0	1.5	1000	$1,900	$1.90	4d	1	0.77mi
2620 Sunrise Ave Chesapeake, VA	3.0	1.5	1462	$1,850	$1.27	23d	1	0.94mi
2638 King Ct Chesapeake, VA	3.0	1.5	1462	$2,000	$1.37	20d	1	0.96mi
903 Sherman Ln Norfolk, VA	3.0	1.0	1031	$1,850	$1.79	44d	1	1.13mi
1535 Vine St Norfolk, VA	3.0	1.5	992	$2,100	$2.12	44d	1	1.14mi
2540 Holly Point Blvd Chesapeake, VA	1.0–3.0	1.0–2.0	1250	$2,680	$2.14	1d	20	1.15mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	23d	1	1.16mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	2d	1	1.16mi
909 E Liberty St Norfolk, VA	3.0	1.0	1030	$1,495	$1.45	44d	1	1.24mi
1510 Wilson Rd Unit 1 Norfolk, VA	3.0	1.0	1100	$1,325	$1.20	23d	1	1.27mi
1510 Wilson Rd Unit 3 Norfolk, VA	3.0	1.0	1273	$1,200	$0.94	44d	1	1.27mi
1510 Wilson Rd #5 Norfolk, VA	2.0	1.0	900	$1,200	$1.33	23d	1	1.27mi
1510 Wilson Rd #4 Norfolk, VA	3.0	1.0	1273	$1,400	$1.10	20d	1	1.27mi
1512 Marsh St Norfolk, VA	3.0	2.5	1727	$2,195	$1.27	44d	1	1.31mi
3406 Bainbridge Blvd Chesapeake, VA	4.0	2.5	1792	$2,700	$1.51	23d	1	1.41mi
1100 Wilson Rd Norfolk, VA	3.0	1.0	900	$1,550	$1.72	4d	1	1.48mi
1100 Wilson Rd Unit 7 Norfolk, VA	3.0	1.5	900	$1,550	$1.72	7d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $255,000 Active 37 DOM
2. 2026-06-17
   days on market $255,000 Active 36 DOM
3. 2026-06-16
   days on market $255,000 Active 35 DOM
4. 2026-06-15
   days on market $255,000 Active 34 DOM
5. 2026-06-13
   days on market $255,000 Active 32 DOM
6. 2026-06-09
   days on market $255,000 Active 28 DOM
7. 2026-06-08
   days on market $255,000 Active 27 DOM
8. 2026-06-07
   days on market $255,000 Active 26 DOM
9. 2026-06-03
   days on market $255,000 Active 22 DOM
10. 2026-06-02
    days on market $255,000 Active 21 DOM
11. 2026-06-01
    days on market $255,000 Active 20 DOM
12. 2026-05-31
    days on market $255,000 Active 19 DOM
13. 2026-05-13
    price $255,000
14. 2026-05-12
    listed $284,900 Active
15. 1968-09-25
    soldstatus $18,500

ⓘ 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: $2,469 · $206/mo
• Projected year-2 tax: $2,469 · $206/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 6/10 Major FEMA zone X (shaded) · 69% 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 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,344
• − Mortgage interest: −$14,284
• − Property taxes: −$2,469
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,947
• − Management: −$1,947
• − Depreciation: −$7,418
• Taxable loss: −$4,998
• Est. tax savings @ 24.0%: +$1,199
• After-tax cash flow: $640/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: Chesapeake City Public School District
• NCES district ID: 5100810
• Math proficiency: 58% ▼ -29.00%
• Reading proficiency: 74% ▼ -7.00%
• Median HH income: $69,356
• Composite: 57.84/100
• National rank: #1047
• State rank: #31 of 131 in VA

Livability — Chesapeake

• Score: 70/100
• State rank: #236
• US rank: #7942

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chesapeake, VA
• County: Chesapeake City · 253,091 people
• City population: 253,091
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 24,670
• Household income: $57,045
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 1301.0

Population outlook (Chesapeake County) Hauer SSP2

• Today (2025): 263,804 people
• By 2030: 276,798 · +4.9%
• By 2040: 299,906 · +13.7%
• By 2050: 318,284 · +20.7%
• By 2075: 362,137 · +37.3%
• By 2100: 372,225 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 58% White 27% Two or more races 9% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Chesapeake

• 2024 margin: Toss-up / Even · D 51.3% · R 47.5% · Other 1.2%
• 2008→2024 swing: +2.5pp toward D · 2008: 1.3pp · 2024: 3.8pp
• All cycles: 2024: D+3.8 2020: D+6.5 2016: R+1.3 2012: D+1.1 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.73%
• Current HPI: 319.2653
• Rent YoY: —
• 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

+1278.4% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $255,000 FSBO.com
• 2026-05-12 Listed $284,900 FSBO.com
• 1968-09-25 Sold (Public Records) $18,500 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,469 · +10.5% YoY. Source: county tax records.