7531 Yorktown Dr · Norfolk, VA 23505

$210,000

2 bd · 1.0 ba · 1,068 sqft · SingleFamily public records · 43 Days on market

Built 1942 5,662 sqft lot $197/sqft · 20% below area Est $264k · 20% under ↓ 11% since listing

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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 +15.0/15.0
• Cash flow +9.5/30.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 1-bath Cape Cod offering an excellent opportunity for the right buyer to renovate and make it their own. With solid potential and room for improvement, this home is well-suited for an owner-occupant who wants to complete renovations right away or update the property over time while building equity. It also presents a great opportunity for investors ready to reimagine the space and unlock its full potential. A welcoming enclosed sun porch adds valuable bonus space and versatility. The home also features additional upstairs space that could be used for storage or potentially expanded into more finished living area, offering flexibility for future improvements. Outside, the

Key facts

• Spacious backyard
• Near beaches
• Storage shed

Tags

• ENCLOSED SUN PORCH
• UPSTAIRS SPACE
• SPACIOUS BACKYARD
• STORAGE SHED
• NEAR BEACHES
• NEAR MILITARY BASES

Property features AI

Finance

• HOA & community: No HOA fees indicated

Exterior

• Parking: Off-street parking; Driveway spaces; Street parking; 1 parking space listed
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached property; Bungalow/Cape Cod style; 2 stories; One living level described; Crawl foundation
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Back privacy fence with chain link; Storage shed; City view

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on first floor
• Flooring: Carpet; Ceramic
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Gas water heater
• Interior features: Cable hookup; Ceiling fans; Screened porch; Sun room; Assigned storage; Handicap access; Level flooring; Main-floor laundry; Ramp; Storm doors
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (25.9% below list).
• Recommended offer: $156k (25.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Suburban Park Elementary (math 22% / reading 37%, grade F, #1,011 of 1,108 statewide, top 92%, 452 students, 98% FRL); Northside Middle (math 25% / reading 58%, grade F, #299 of 342 statewide, top 88%, 763 students, 92% FRL); Granby High (math 33% / reading 80%, grade C, #270 of 319 statewide, top 86%, 1,837 students, 94% FRL) — zoned schools average 95% FRL vs 59% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+12.1%/yr); 108 active listings in the ZIP; 33 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 32% of the median local income ($59k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $155,611 (25.9% 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 26% 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. 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.99%
• DSCR: 0.87
• GRM: 11.2

CMA / ARV

• ARV (median comp): $264,078
• List price: $210,000
• Delta: -20.48%
• 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
403 Draper Dr	0.40mi	3/1.0 (+1)	1,080 (+1%)	6mo	$160,000	$148	70
7535 Yorktown Dr	0.02mi	3/2.0 (+1)	1,200 (+12%)	7mo	$275,000	$229	64
7310 Woodfin Ave	0.25mi	3/1.5 (+1)	1,200 (+12%)	8mo	$300,000	$250	54
410 N Shore Rd	0.63mi	3/1.0 (+1)	1,000 (-6%)	2mo	$273,000	$273	54
215 Burleigh Ave	0.41mi	2/1.0	923 (-14%)	6mo	$259,900	$282	53
7920 E Glen Rd	0.63mi	3/2.0 (+1)	1,100 (+3%)	6mo	$235,000	$214	51
516 Gladstone Rd	0.60mi	3/1.0 (+1)	1,000 (-6%)	8mo	$250,000	$250	49
228 Forsythe St	0.52mi	3/1.0 (+1)	934 (-12%)	1mo	$175,000	$187	49
317 Naval Base Rd	0.24mi	3/3.0 (+1)	1,222 (+14%)	5mo	$305,000	$250	48
512 Gladstone Rd	0.59mi	2/1.0	911 (-15%)	4mo	$255,000	$280	45
419 Maycox Ave	0.66mi	3/2.0 (+1)	1,004 (-6%)	7mo	$260,000	$259	44
445 Munden Ave	0.54mi	3/2.0 (+1)	1,200 (+12%)	4mo	$282,600	$236	42

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: -16.2%
• Equity multiple: 0.40×
• Total profit: $-35,165
• Equity at exit: $31,312

10-year hold

• IRR: -1.1%
• Equity multiple: 0.91×
• Total profit: $-5,308
• Equity at exit: $18,157

Cash invested: $58,800 (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 23505

• Home prices YoY: -19.6%
• Rents YoY: 12.1%
• Active inventory: 108
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,556 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$187 /mo · $2,246/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-147

Break-even live

Break-even rent $1,742

Max offer price $184,102

Occupancy floor —

Sensitivity live

Price	-10% $-28	-5% $-87	+0% $-147	+5% $-206	+10% $-265
Rent	-10% $-270	-5% $-208	+0% $-147	+5% $-85	+10% $-24
Rate	-1.0pp $-41	-0.5pp $-93	base $-147	+0.5pp $-201	+1.0pp $-256

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Naval Base Rd Norfolk, VA	3.0	1.0	1000	$1,850	$1.85	25d	1	0.21mi
311 Ashlawn Dr Unit 3 Norfolk, VA	2.0	1.0	800	$1,195	$1.49	46d	1	0.42mi
218 Granby Park Dr Unit B Norfolk, VA	3.0	1.0	1330	$1,745	$1.31	14d	1	0.42mi
218 Granby Park Dr Unit B Norfolk, VA	3.0	1.0	1330	$1,695	$1.27	4d	1	0.42mi
218 Granby Park Dr Unit B Norfolk, VA	3.0	1.0	1330	$1,795	$1.35	5d	1	0.42mi
312 Ashlawn Dr Norfolk, VA	2.0	1.0	720	$1,200	$1.67	45d	1	0.44mi
307 W Little Creek Rd Unit C Norfolk, VA	2.0	1.0	830	$1,395	$1.68	12d	1	0.49mi
440 San Antonio Blvd Norfolk, VA	2.0	1.0	800	$1,535	$1.92	25d	1	0.49mi
408 E Little Creek Rd Norfolk, VA	3.0	2.0	1224	$2,200	$1.80	45d	1	0.54mi
417 E Little Creek Rd Apt 4 Norfolk, VA	2.0	1.0	700	$1,050	$1.50	9d	1	0.55mi
507 Ashlawn Dr Norfolk, VA	2.0	1.0	750	$1,395	$1.86	45d	1	0.66mi
7474 Pennington Rd Unit 7474 Norfolk, VA	2.0	1.0	1000	$1,525	$1.52	3d	1	0.67mi
504 Ashlawn Dr Unit 2 Norfolk, VA	2.0	1.0	725	$1,250	$1.72	25d	1	0.67mi
504 Ashlawn Dr Norfolk, VA	2.0	1.0	725	$1,250	$1.72	23d	1	0.67mi
508 Ashlawn Dr Unit 2 Norfolk, VA	2.0	1.0	725	$1,250	$1.72	23d	1	0.68mi
502 Grantham Rd Norfolk, VA	1.0–2.0	1.0	740	$1,128	$1.52	45d	3	0.77mi
7433 Fenner St Norfolk, VA	1.0–2.0	1.0	715	$1,399	$1.96	16d	7	0.83mi
715 Easy St Unit 2 Norfolk, VA	2.0	1.0	750	$1,200	$1.60	16d	1	0.83mi
7465 Fenner St Unit 7468-2-A8 Norfolk, VA	2.0	1.0	900	$1,399	$1.55	22d	1	0.86mi
7996 Diggs Rd Unit D Norfolk, VA	3.0	2.0	950	$1,375	$1.45	45d	1	0.86mi
7427 Tyndale Ct Unit 1 Norfolk, VA	2.0	1.0	786	$995	$1.27	45d	1	0.89mi
7730 Ruthven Rd Norfolk, VA	3.0	1.0	1056	$1,750	$1.66	25d	1	0.99mi
7922 Old Ocean View Rd Norfolk, VA	1.0–3.0	1.0–1.5	890	$1,250	$1.40	3d	3	1.01mi
8231 Andrew Ln Norfolk, VA	3.0	1.0	720	$1,800	$2.50	25d	1	1.03mi
609 Summers Dr Norfolk, VA	3.0	1.0	998	$1,995	$2.00	5d	1	1.09mi
837 Tifton St Norfolk, VA	3.0	2.0	1072	$2,300	$2.15	25d	1	1.11mi
7872 Ogden Ave Norfolk, VA	1.0–3.0	1.0–2.0	963	$1,285	$1.33	45d	1	1.12mi
869 Bancker Rd Norfolk, VA	2.0	1.0–1.5	910	$1,142	$1.26	45d	1	1.20mi
7128 Gregory Dr Norfolk, VA	2.0	1.0	720	$1,800	$2.50	45d	1	1.35mi
7108 Gregory Dr Norfolk, VA	2.0	1.0	720	$1,400	$1.94	45d	1	1.39mi
1111 Charleston St Norfolk, VA	2.0	1.0	822	$1,425	$1.73	45d	1	1.40mi
756 Norman Ave Norfolk, VA	3.0	1.0	1500	$1,875	$1.25	23d	1	1.40mi
739 Waukesha Ave Norfolk, VA	2.0	1.0	860	$1,800	$2.09	25d	1	1.47mi

Listing history 17 events

1. 2026-06-21
   days on market $210,000 Active 43 DOM
2. 2026-06-18
   days on market $210,000 Active 40 DOM
3. 2026-06-17
   days on market $210,000 Active 39 DOM
4. 2026-06-16
   days on market $210,000 Active 38 DOM
5. 2026-06-15
   days on market $210,000 Active 37 DOM
6. 2026-06-13
   days on market $210,000 Active 35 DOM
7. 2026-06-09
   days on market $210,000 Active 31 DOM
8. 2026-06-08
   days on market $210,000 Active 30 DOM
9. 2026-06-07
   days on market $210,000 Active 29 DOM
10. 2026-06-03
    days on market $210,000 Active 25 DOM
11. 2026-06-02
    days on market $210,000 Active 24 DOM
12. 2026-06-01
    days on market $210,000 Active 23 DOM
13. 2026-05-31
    days on market $210,000 Active 22 DOM
14. 2026-05-09
    historical
15. 2026-05-09
    listed $210,000 Active 984-char remark
16. 2026-04-08
    price $224,900
17. 2026-03-07
    listed $235,000 Active

ⓘ 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: $2,246 · $187/mo
• Projected year-2 tax: $2,246 · $187/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 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $18,673
• − Mortgage interest: −$11,763
• − Property taxes: −$2,246
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,494
• − Management: −$1,494
• − Depreciation: −$6,109
• Taxable loss: −$5,483
• Est. tax savings @ 24.0%: +$1,316
• After-tax cash flow: $-443/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): 28,247
• Household income: $58,579
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2299.0

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 0.67)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 9% · Canada, United Kingdom, South Korea
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 1% French/Haitian/Cajun 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: ▼ -71.86%
• Current HPI: 294.9807
• Rent YoY: ▲ 12.08%
• 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

-10.6% since first listed

4 events — show timeline

• 2026-05-09 Listed $210,000 REINMLS
• 2026-05-09 Listing Removed — REINMLS
• 2026-04-08 Price Changed $224,900 REINMLS
• 2026-03-07 Listed $235,000 REINMLS

Property tax history

+4.1%/yr

Latest (2025): $2,246 · +8.7% YoY. Source: county tax records.