405 Villanova Ave · Chesapeake, VA 23324

$275,000

3 bd · 2.0 ba · 1,441 sqft · SingleFamily public records · 2 Days on market

Built 1969 0.28 ac lot Est $320k · 14% 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 +13.8/15.0
• Cash flow +11.8/30.0
• Schools +5.8/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Property sold as is, where is with all contents remaining at closing to convey. CASH OFFERS ONLY and proof of funds must accompany the offer. Appliances convey as is. Opportunity for a FIX and FLIP. Super convenient location with easy access to I-464, I-64, Downtown Norfolk and Norfolk Naval Shipyard.

Key facts

• Easy access to i-464
• Convenient location
• Easy access to i-64

Tags

• CONVENIENT LOCATION
• EASY ACCESS TO I-464
• EASY ACCESS TO I-64

Property features AI

Finance

• Other: Property described as fixer upper; Lot approximately 0.277 acres (lot dimensions 115 x 105)
• HOA & community: No HOA fees

Exterior

• Parking: Attached 1-car garage; Detached 1-car garage; Carport; Driveway parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached ranch; Single-story; Crawl foundation; Storm doors
• Construction: Brick siding; Asphalt shingle roof
• Exterior features: Deck; Back chain-link fence

Interior

• Kitchen: Electric range; Dishwasher
• Bedrooms: One bedroom with ensuite; Bedroom and full bathroom on first floor
• Flooring: Carpet; Laminate; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Ceiling fan; Pull-down attic stairs; One fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Utility closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-77 ($-929/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (16.1% below list).
• Recommended offer: $231k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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+; 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.
• Zoned schools: Portlock Primary (541 students, 93% FRL); Oscar F. Smith High (math 63% / reading 75%, grade B, #170 of 319 statewide, top 55%, 2,291 students, 70% FRL) — zoned schools average 82% FRL vs 28% district-wide (54 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 118 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).
• At $2,308/mo this rent would consume 49% of the median local household income ($57k/yr) (locally 1301% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $26k; list at $275k implies a 966% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $230,761 (16.1% 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 1969 — 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. 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?
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: 0.84% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.21%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $319,902
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 Villanova Ave	0.00mi	3/2.0	1,441 (0%)	0mo	$230,000	$160	100
4126 Reid St	0.32mi	3/2.5	1,489 (+3%)	4mo	$349,900	$235	74
4109 Franklin St	0.41mi	3/2.5	1,500 (+4%)	3mo	$335,000	$223	70
4134 Everett St	0.37mi	3/2.5	1,544 (+7%)	1mo	$335,000	$217	68
1024 Middle St	0.52mi	3/2.5	1,500 (+4%)	1mo	$335,000	$223	66
1208 Edgewood Ave	0.43mi	3/2.0	1,541 (+7%)	5mo	$300,000	$195	64
1014 Rowland Ave	0.64mi	3/2.0	1,400 (-3%)	5mo	$299,800	$214	61
1022 Hill St	0.51mi	3/2.5	1,536 (+7%)	3mo	$330,000	$215	60
1305 Virginia Ave	0.62mi	3/2.0	1,520 (+6%)	2mo	$386,250	$254	60
934 Middle St	0.59mi	3/2.5	1,536 (+7%)	1mo	$325,000	$212	58
4000 Hamilton St	0.50mi	3/2.0	1,235 (-14%)	1mo	$335,000	$271	52
2512 Chesapeake Ave	0.72mi	3/2.0	1,600 (+11%)	6mo	$355,000	$222	43

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-49,460
• Equity at exit: $41,003

10-year hold

• IRR: -10.5%
• Equity multiple: 0.36×
• Total profit: $-49,279
• Equity at exit: $23,777

Cash invested: $77,000 (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 23324

• Home prices YoY: -17.3%
• Active inventory: 118
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,308 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-77

Break-even live

Break-even rent $2,406

Max offer price $263,793

Occupancy floor 98%

Sensitivity live

Price	-10% $113	-5% $18	+0% $-77	+5% $-172	+10% $-267
Rent	-10% $-260	-5% $-169	+0% $-77	+5% $14	+10% $105
Rate	-1.0pp $61	-0.5pp $-8	base $-77	+0.5pp $-149	+1.0pp $-221

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	24d	1	0.37mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	3d	1	0.37mi
3000 Waverton Pkwy Chesapeake, VA	2.0–3.0	1.0–2.0	1037	$1,510	$1.46	24d	1	0.42mi
3406 Bainbridge Blvd Chesapeake, VA	4.0	2.5	1792	$2,700	$1.51	24d	1	0.50mi
606 Muddy Creek Rd Chesapeake, VA	3.0	2.5	1720	$2,600	$1.51	24d	1	0.86mi
1212 Triple Crown Cir Chesapeake, VA	1.0–2.0	1.0–2.0	965	$2,180	$2.26	3d	24	0.96mi
511 Marc Smiley Rd Chesapeake, VA	2.0	2.5	1450	$2,350	$1.62	3d	1	1.06mi
1947 Candlelight Dr Chesapeake, VA	3.0	2.5	1417	$2,000	$1.41	21d	1	1.15mi
103 Duffield Pl Chesapeake, VA	3.0	2.0	1372	$2,200	$1.60	24d	1	1.16mi
1416 Cole Dr Chesapeake, VA	3.0	2.0	1732	$2,600	$1.50	24d	1	1.36mi
2540 Holly Point Blvd Chesapeake, VA	1.0–3.0	1.0–2.0	1250	$2,680	$2.14	2d	20	1.49mi

Listing history 3 events

1. 2026-06-07
   statusdays on market $275,000 Under Contract 2 DOM
2. 2026-06-02
   remarks 302-char remark
3. 2026-06-02
   listed $275,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $27,691
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,215
• − Management: −$2,215
• − Depreciation: −$8,000
• Taxable loss: −$5,644
• Est. tax savings @ 24.0%: +$1,354
• After-tax cash flow: $425/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

+965.9% since first listed

2 events — show timeline

• 2026-06-02 Listed $275,000 REINMLS
• 1970-11-23 Sold (Public Records) $25,800 Public Records

Property tax history

-10.0%/yr

Latest (2025): $522 · -50.0% YoY. Source: county tax records.