2800 Vincent Ave · Norfolk, VA 23509

$240,000

4 bd · 3.0 ba · 1,984 sqft · SingleFamily public records · 27 Days on market

Built 2008 Est $367k · 35% under

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Why this score? — see what drove the C+ 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 +16.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Appreciation +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks

Bring your vision! This charming home doesn't need much to restore to it. Open concept living room, dining and kitchen. Large island, stainless appliances and granite countertops. Three spacious bedrooms, including one on the first floor, and three full bathrooms. This home to be sold as-is, where-is. Cash or renovation loans only

Key facts

• Stainless appliances
• Large island
• Granite countertops

Tags

• OPEN CONCEPT LIVING ROOM
• LARGE ISLAND
• STAINLESS APPLIANCES
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Fixer upper
• HOA & community: No HOA or POA fees

Exterior

• Parking: 4 parking spaces (driveway and street)
• Utilities: City/County sewer; City/County water; Electric water heater; Electric power
• Home design: Detached traditional home; 2 stories (2 living levels); Simple ownership; Storm doors
• Construction: Vinyl siding; Asphalt shingle roof; Slab foundation
• Exterior features: Corner lot; Patio; Back, front and full fencing

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Dishwasher; Breakfast area
• Bedrooms: First-floor master bedroom; Master bedroom; Additional bedroom
• Flooring: Carpet; Ceramic; Laminate
• Bathrooms: 3 full bathrooms; Master bath (jetted tub)
• Heating & cooling: Heat pump; Central air
• Interior features: Cable hookup; Ceiling fan; Jetted tub; Bar; Scuttle access; Window treatments
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: Coleman Place Elementary (math 13% / reading 38%, grade F, #1,046 of 1,108 statewide, top 95%, 617 students, 98% 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 97% FRL vs 59% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+14.0%/yr); 77 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).
• This rent runs 40% 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 $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $75k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $236,400 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 7.08%
• Cash-on-cash: 2.82%
• DSCR: 1.13
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $367,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2830 Vincent Ave	0.07mi	4/2.5	2,000 (+1%)	5mo	$350,000	$175	89
2908 Tait Ter	0.28mi	4/3.0	1,994 (+0%)	2mo	$329,900	$165	84
3012 Ballentine Blvd	0.17mi	4/2.0	1,840 (-7%)	2mo	$325,000	$177	75
3122 Montana Ave	0.47mi	4/2.5	1,946 (-2%)	6mo	$300,000	$154	68
3608 Tait Ter	0.44mi	4/2.5	1,864 (-6%)	3mo	$380,000	$204	65
2924 Somme Ave	0.61mi	4/2.5	2,050 (+3%)	1mo	$402,000	$196	63
3328 Kansas Ave	0.53mi	4/2.5	2,100 (+6%)	6mo	$399,999	$190	58
2729 Vimy Ridge Ave	0.62mi	4/2.0	2,086 (+5%)	4mo	$255,000	$122	55
2200 Lafayette Blvd	0.58mi	4/3.0	1,809 (-9%)	4mo	$350,000	$193	55
2810 Hurley Ave	0.47mi	3/2.0 (-1)	1,780 (-10%)	4mo	$330,000	$185	49
3856 Peterson St	0.68mi	4/3.0	1,710 (-14%)	3mo	$359,000	$210	43
3853 Robin Hood Rd	0.74mi	3/2.0 (-1)	1,830 (-8%)	2mo	$317,500	$173	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: -6.1%
• Equity multiple: 0.76×
• Total profit: $-15,984
• Equity at exit: $35,785

10-year hold

• IRR: 9.0%
• Equity multiple: 1.86×
• Total profit: $57,515
• Equity at exit: $20,751

Cash invested: $67,200 (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 23509

• Home prices YoY: -1.3%
• Rents YoY: 14.0%
• Active inventory: 77
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,416 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$393 /mo · $4,712/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $158

Break-even live

Break-even rent $2,217

Max offer price $240,000

Occupancy floor 88%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3126 Marne Ave Norfolk, VA	5.0	2.0	1943	$3,000	$1.54	44d	1	0.29mi
2531 Vincent Ave Norfolk, VA	3.0	2.0	1600	$2,195	$1.37	44d	1	0.29mi
2537 McKann Ave Norfolk, VA	4.0	2.5	2321	$2,695	$1.16	15d	1	0.33mi
2660 Chesapeake Blvd Norfolk, VA	3.0	2.0	1375	$2,100	$1.53	17d	1	0.41mi
2914 Peronne Ave Norfolk, VA	4.0	2.0	1764	$2,495	$1.41	24d	1	0.44mi
3640 Robin Hood Rd Norfolk, VA	4.0	2.5	1400	$2,999	$2.14	17d	1	0.58mi
2605 Bapaume Ave Norfolk, VA	3.0	2.0	2004	$2,295	$1.15	44d	1	0.62mi
3653 Nottaway St Norfolk, VA	3.0	1.5	1564	$2,200	$1.41	17d	1	0.67mi
2201 Pershing Ave Norfolk, VA	3.0	2.5	1455	$2,250	$1.55	4d	1	0.67mi
2729 Somme Ave Norfolk, VA	3.0	2.5	1524	$2,295	$1.51	15d	1	0.68mi
2920 Cape Henry Ave Unit A Norfolk, VA	3.0	1.5	2331	$1,900	$0.82	2d	1	0.69mi
3301 Vimy Ridge Ave Norfolk, VA	4.0	2.0	1300	$2,150	$1.65	4d	1	0.74mi
1801 Saint Denis Ave Unit 3 Norfolk, VA	4.0	2.0	1500	$2,400	$1.60	24d	1	0.76mi
3504 Chesapeake Blvd Norfolk, VA	3.0	2.0	1624	$1,995	$1.23	24d	1	0.78mi
3504 Chesapeake Blvd Norfolk, VA	3.0	2.0	1624	$1,995	$1.23	44d	1	0.78mi
3521 Brest Ave Norfolk, VA	3.0	2.0	1234	$2,300	$1.86	44d	1	0.78mi
1714 Bellevue Ave Norfolk, VA	3.0	1.5	1500	$1,799	$1.20	44d	1	0.80mi
3477 E Bonner Dr Norfolk, VA	3.0	1.0	1304	$2,000	$1.53	24d	1	0.82mi
3541 Chesapeake Blvd Norfolk, VA	5.0	1.0	1476	$1,275	$0.86	8d	1	0.87mi
1751 Fontainebleau Cres Norfolk, VA	3.0	2.0	1231	$2,350	$1.91	44d	1	0.88mi
2529 Tidewater Dr Norfolk, VA	3.0	2.5	2025	$2,370	$1.17	24d	1	0.90mi
3414 Tidewater Dr Norfolk, VA	4.0	2.5	2200	$3,000	$1.36	44d	1	0.91mi
1531 Spruce St Unit B Norfolk, VA	3.0	2.0	1304	$1,600	$1.23	44d	1	1.00mi
1531 Spruce St Unit B Norfolk, VA	3.0	2.0	1304	$1,600	$1.23	24d	1	1.00mi
4563 Shoshone Ct Norfolk, VA	3.0	2.0	1600	$2,500	$1.56	44d	1	1.02mi
1403 Lead St Norfolk, VA	4.0	2.5	1854	$2,550	$1.38	44d	1	1.06mi
3114 Luxembourg Ave Norfolk, VA	4.0	2.5	2300	$3,100	$1.35	17d	1	1.06mi
3776 Wayne Cir Norfolk, VA	4.0	3.0	2301	$2,795	$1.21	44d	1	1.17mi
907 Rugby St Norfolk, VA	3.0	2.0	1515	$2,200	$1.45	44d	1	1.20mi
881 Rugby St Norfolk, VA	3.0	2.0	1600	$2,650	$1.66	24d	1	1.21mi
1022 Kenton Ave Norfolk, VA	3.0	2.0	1400	$2,400	$1.71	11d	1	1.30mi
1449 Proescher St Norfolk, VA	3.0	1.5	1400	$1,550	$1.11	24d	1	1.31mi
3819 Pamlico Cir Norfolk, VA	3.0	1.0	1250	$2,000	$1.60	12d	1	1.33mi
1562 Norcova Ave Norfolk, VA	3.0	1.0	1288	$2,000	$1.55	17d	1	1.35mi
2700 Myrtle Ave Norfolk, VA	3.0	3.0	1888	$2,600	$1.38	44d	1	1.36mi
830 Lexington St Norfolk, VA	3.0	2.5	1804	$1,950	$1.08	44d	1	1.38mi
766 A Ave Norfolk, VA	5.0	2.0	1544	$1,400	$0.91	44d	1	1.39mi
764 B Ave Norfolk, VA	3.0	2.5	1380	$1,795	$1.30	20d	1	1.40mi

Listing history 20 events

1. 2026-06-19
   price $240,000 Active 27 DOM
2. 2026-06-18
   days on market $315,000 Active 27 DOM
3. 2026-06-17
   days on market $315,000 Active 26 DOM
4. 2026-06-16
   days on market $315,000 Active 25 DOM
5. 2026-06-15
   days on market $315,000 Active 24 DOM
6. 2026-06-13
   days on market $315,000 Active 22 DOM
7. 2026-06-09
   days on market $315,000 Active 18 DOM
8. 2026-06-08
   days on market $315,000 Active 17 DOM
9. 2026-06-07
   days on market $315,000 Active 16 DOM
10. 2026-06-03
    days on market $315,000 Active 12 DOM
11. 2026-06-02
    days on market $315,000 Active 11 DOM
12. 2026-06-01
    days on market $315,000 Active 10 DOM
13. 2026-05-31
    days on market $315,000 Active 9 DOM
14. 2026-05-22
    listed $315,000 Active
15. 2017-05-26
    soldstatus $224,900
16. 2017-03-14
    status Under Contract
17. 2017-01-19
    price $224,900
18. 2016-12-08
    price $219,900
19. 2016-10-25
    listed $224,900 Active
20. 2003-11-12
    soldstatus $65,000

ⓘ 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: $4,712 · $393/mo
• Projected year-2 tax: $4,712 · $393/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) · 10% 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: $28,997
• − Mortgage interest: −$13,444
• − Property taxes: −$4,712
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,320
• − Management: −$2,320
• − Depreciation: −$6,982
• Taxable loss: −$1,980
• Est. tax savings @ 24.0%: +$475
• After-tax cash flow: $2,368/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

+384.6% since first listed

7 events — show timeline

• 2026-05-22 Listed $315,000 REINMLS
• 2017-05-26 Sold (Public Records) $224,900 Public Records
• 2017-03-14 Pending — REINMLS
• 2017-01-19 Price Changed $224,900 REINMLS
• 2016-12-08 Price Changed $219,900 REINMLS
• 2016-10-25 Listed $224,900 REINMLS
• 2003-11-12 Sold (Public Records) $65,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $4,712 · +8.1% YoY. Source: county tax records.