915 Mckinley Ave · Chesapeake, VA 23324

$265,000

3 bd · 1.0 ba · 1,121 sqft · SingleFamily public records · 60 Days on market

Built 1914 Est $284k · 7% 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).

• Cash flow +14.2/30.0
• ARV discount +10.5/15.0
• Schools +5.8/10.0
• DSCR +4.3/10.0
• 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

Experience the perfect blend of classic charm and modern convenience in this beautifully updated one-level, three-bedroom home, situated on a spacious lot with no HOA and priced under $300K. The inviting living area features luxury vinyl plank flooring throughout (no carpet) and a cozy wood-burning fireplace. The upgraded kitchen offers stainless steel appliances, granite countertops, and contemporary cabinetry. All three bedrooms provide generous space and ample closet storage, while the full bathroom includes dual sinks for added functionality. Enjoy additional versatility with a large utility room at the back of the home and a bright sunroom at the front. A huge attic offers even more st

Key facts

• Dual sinks
• Granite countertops
• Large utility room

Tags

• WOOD BURNING FIREPLACE
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• CONTEMPORARY CABINETRY
• DUAL SINKS
• LARGE UTILITY ROOM

Property features AI

Finance

• HOA & community: No HOA (no association fees)

Exterior

• Parking: Off-street parking; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached property; Cape Cod / Traditional style; Single-story living level; Facing city and wooded views
• Construction: Vinyl siding; Asphalt shingle roof; Crawl foundation; 1 story
• Exterior features: Corner lot; Patio; Partial privacy fence; Storage shed

Interior

• Kitchen: Microwave; Electric range; Refrigerator; Pantry; Breakfast area
• Bedrooms: First-floor master bedroom; Bedroom and full bathroom on first floor; Total rooms: 8 (includes spare room, office/study, breakfast area, foyer, pantry, utility room, attic)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fan; Wood-burning fireplace; Pull-down attic stairs; Window treatments
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $42 ($500/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 $213k (19.6% below list).
• Recommended offer: $213k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 116 active listings in the ZIP; 7 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 45% 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 60 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago 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 $130k; list at $265k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $213,189 (19.6% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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: 0.80% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $283,613
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4102 First St	0.45mi	3/2.0	1,124 (+0%)	4mo	$325,000	$289	72
4000 Hamilton St	0.21mi	3/2.0	1,235 (+10%)	1mo	$335,000	$271	69
1207 Earle Ave	0.28mi	2/2.0 (-1)	1,175 (+5%)	2mo	$320,000	$272	68
1116 Kay Ave	0.43mi	3/1.0	1,200 (+7%)	8mo	$300,000	$250	61
907 Rowland Ave	0.49mi	3/1.0	1,044 (-7%)	9mo	$245,000	$235	58
3106 Joseph Ave	0.52mi	2/2.0 (-1)	1,153 (+3%)	5mo	$292,000	$253	58
4138 2nd St	0.58mi	3/1.5	1,040 (-7%)	4mo	$228,900	$220	55
4136 2nd St	0.57mi	3/2.0	1,040 (-7%)	3mo	$316,500	$304	55
2648 Westwood Ave	0.72mi	3/2.0	1,155 (+3%)	4mo	$250,000	$216	54
3207 Walden St	0.70mi	3/1.0	1,200 (+7%)	7mo	$289,900	$242	50
1203 Anne Ave	0.49mi	3/1.5	1,256 (+12%)	9mo	$298,000	$237	47
1143 Ferebee Ave	0.62mi	3/1.5	1,008 (-10%)	8mo	$283,000	$281	46

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: -15.3%
• Equity multiple: 0.46×
• Total profit: $-40,371
• Equity at exit: $39,512

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-32,077
• Equity at exit: $22,912

Cash invested: $74,200 (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: 10.4×

Monthly cashflow live

• Estimated rent: $2,132 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$142 /mo · $1,709/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $42

Break-even live

Break-even rent $2,079

Max offer price $265,000

Occupancy floor 93%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 Marc Smiley Rd Chesapeake, VA	2.0	2.5	1450	$2,350	$1.62	2d	1	0.72mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	2d	1	0.76mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	24d	1	0.76mi
3000 Waverton Pkwy Chesapeake, VA	2.0–3.0	1.0–2.0	1037	$1,510	$1.46	24d	1	1.03mi
2129 Chesapeake Dr Unit C3 Chesapeake, VA	2.0	1.0	800	$1,175	$1.47	24d	1	1.13mi
1712 Bainbridge Blvd Unit 4 Chesapeake, VA	2.0	1.0	750	$1,300	$1.73	24d	1	1.33mi
1212 Triple Crown Cir Chesapeake, VA	1.0–2.0	1.0–2.0	965	$2,180	$2.26	2d	24	1.50mi

Listing history 14 events

1. 2026-05-31
   days on market $265,000 Active 60 DOM
2. 2026-04-27
   price $265,000
3. 2026-04-16
   price $272,000
4. 2026-04-16
   status Active
5. 2026-04-09
   historical Active Under Contract
6. 2026-04-01
   listed $275,000 Active
7. 2024-12-03
   historical $2,000
8. 2024-11-20
   listed $2,000
9. 2022-07-07
   soldstatus $130,000
10. 2022-06-10
    status Under Contract
11. 2022-06-10
    historical Active Under Contract
12. 2022-06-06
    listed $120,000 Active
13. 1992-04-13
    soldstatus $45,000
14. 1976-12-28
    soldstatus $19,000

ⓘ 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: $1,709 · $142/mo
• Projected year-2 tax: $2,173 · $181/mo
• Expected delta: +$464/yr (+$39/mo · 27.2%)

ⓘ 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 (shaded) · 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 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,583
• − Mortgage interest: −$14,844
• − Property taxes: −$1,709
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,047
• − Management: −$2,047
• − Depreciation: −$7,709
• Taxable loss: −$4,098
• Est. tax savings @ 24.0%: +$983
• After-tax cash flow: $1,484/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

+1294.7% since first listed

13 events — show timeline

• 2026-04-27 Price Changed $265,000 REINMLS
• 2026-04-16 Price Changed $272,000 REINMLS
• 2026-04-16 Relisted — REINMLS
• 2026-04-09 Contingent — REINMLS
• 2026-04-01 Listed $275,000 REINMLS
• 2024-12-03 Rental Removed $2,000 REINMLS
• 2024-11-20 Listed for Rent $2,000 REINMLS
• 2022-07-07 Sold (Public Records) $130,000 Public Records
• 2022-06-10 Pending — REINMLS
• 2022-06-10 Contingent — REINMLS
• 2022-06-06 Listed $120,000 REINMLS
• 1992-04-13 Sold (Public Records) $45,000 Public Records
• 1976-12-28 Sold (Public Records) $19,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,709 · +8.8% YoY. Source: county tax records.