820 Henry Ave · Chesapeake, VA 23323

$300,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 24 Days on market

Built 1954 Est $280k · 7% over

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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 +12.5/30.0
• Schools +5.8/10.0
• ARV discount +4.3/15.0
• Rent growth +4.0/5.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Freshly updated and move-in ready! This home features a freshly painted exterior along with brand new LVP flooring, fresh interior paint, and updated fixtures throughout. The kitchen includes a new dishwasher, and the washer and dryer convey in a separate laundry room. The full bath was completely renovated in 2024, with additional updates to the half bath in 2025. Major systems include HVAC (2022), water heater (2024), architectural roof (2012), and added R30 attic insulation (2025). Situated on a large fenced corner lot with a spacious deck for entertaining or relaxing. Detached garage with 220V and well pump. Conveniently located near shopping, dining, and interstate access.

Key facts

• Garage
• Built 1954
• Listed 24 days

Property features AI

Finance

• HOA & community: No HOA or association fees

Exterior

• Parking: Detached 1-car garage (approximately 352 sq ft)
• Utilities: City/County water; City/County sewer; Electric water heater; Natural gas available
• Home design: Detached ranch; Single-story (1 living level); Crawl foundation
• Construction: Wood siding; Asphalt shingle roof
• Exterior features: Corner lot; Deck; Well; Back fenced yard; Front fenced yard; Chain link fence

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Pantry
• Bedrooms: Master bedroom (1st floor); First floor bedroom; Additional bedroom
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom; Full bathroom on first floor
• Heating & cooling: Central air conditioning; Forced hot air; Natural gas heating; Electric water heater
• Interior features: Attic fan; Ceiling fan; Window treatments; Laminate flooring
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-43 ($-512/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (21.6% below list).
• Recommended offer: $235k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.8% 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: Deep Creek Elementary (math 66% / reading 72%, grade A-, #351 of 1,108 statewide, top 32%, 763 students, 45% FRL); Deep Creek High (math 70% / reading 82%, grade A-, #102 of 319 statewide, top 32%, 1,597 students, 49% FRL) — zoned schools average 47% FRL vs 28% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 183 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 24 days — a 2% lower offer ($296k) 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.
• Current owner paid $62k; list at $300k implies a 380% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $235,241 (21.6% 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 1954 — 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: 0.78% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $279,888
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
820 Henry Ave	0.00mi	3/1.5	1,176 (0%)	1mo	$300,000	$255	98
2501 Lofurno Rd	0.48mi	3/1.0	1,112 (-5%)	11mo	$265,000	$238	59
2404 Livesay Rd	0.69mi	4/1.0 (+1)	1,145 (-3%)	5mo	$262,000	$229	54
2249 Tennessee Dr	0.65mi	3/1.0	1,248 (+6%)	7mo	$285,000	$228	54
2856 Flag Rd	0.56mi	3/1.0	1,319 (+12%)	1mo	$325,000	$246	53
1040 George Washington Hwy	0.73mi	3/1.0	1,116 (-5%)	8mo	$272,000	$244	50
1001 Baugher Ave	0.60mi	3/1.0	1,300 (+10%)	10mo	$254,000	$195	46
2712 Fenway Ave	0.58mi	4/1.5 (+1)	1,350 (+15%)	1mo	$358,900	$266	41
2412 Youngman Rd	0.73mi	3/2.0	1,291 (+10%)	6mo	$304,000	$235	41
2741 Fenway Ave	0.59mi	3/1.0	1,014 (-14%)	11mo	$230,000	$227	40
900 Noble Ct	0.54mi	3/2.0	1,025 (-13%)	12mo	$250,000	$244	39

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 · 6.13% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.48×
• Total profit: $-43,761
• Equity at exit: $44,731

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-8,455
• Equity at exit: $25,939

Cash invested: $84,000 (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 23323

• Home prices YoY: -21.8%
• Rents YoY: 6.1%
• Active inventory: 183
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,352 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$203 /mo · $2,434/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-43

Break-even live

Break-even rent $2,406

Max offer price $292,462

Occupancy floor 97%

Sensitivity live

Price	-10% $127	-5% $42	+0% $-43	+5% $-128	+10% $-212
Rent	-10% $-229	-5% $-136	+0% $-43	+5% $50	+10% $143
Rate	-1.0pp $108	-0.5pp $34	base $-43	+0.5pp $-120	+1.0pp $-199

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2604 Townhouse Ln Chesapeake, VA	1.0–3.0	1.5	1050	$1,885	$1.80	3d	1	0.46mi
622 Wooddale Ct Chesapeake, VA	4.0	2.0	1475	$2,450	$1.66	25d	1	0.62mi
846 Drawbridge Dr Chesapeake, VA	3.0	2.0	1400	$2,600	$1.86	25d	1	0.90mi
3208 Sir Meliot Dr Chesapeake, VA	3.0	2.0	1400	$2,295	$1.64	25d	1	0.92mi
908 Lake Village Dr Chesapeake, VA	2.0–3.0	1.0	972	$1,508	$1.55	4d	7	0.94mi
1114 Woodland Terrace Dr Chesapeake, VA	3.0	1.0	1223	$2,000	$1.64	25d	1	1.02mi

Listing history 6 events

1. 2026-05-11
   historical Active Under Contract
2. 2026-05-05
   listed $300,000 Active
3. 2026-05-04
   historical
4. 2026-03-19
   listed $325,000 Active
5. 1992-08-03
   soldstatus $62,500
6. 1984-08-10
   soldstatus $32,000

ⓘ 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: $2,434 · $203/mo
• Projected year-2 tax: $2,460 · $205/mo
• Expected delta: +$26/yr (+$2/mo · 1.1%)

ⓘ 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 (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $28,229
• − Mortgage interest: −$16,805
• − Property taxes: −$2,434
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,258
• − Management: −$2,258
• − Depreciation: −$8,727
• Taxable loss: −$5,754
• Est. tax savings @ 24.0%: +$1,381
• After-tax cash flow: $869/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): 43,043
• Household income: $108,730
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 699.0

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 0.62)
• Race & ethnicity: White 54% Black 27% Two or more races 11% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%
• Foreign-born: 5% · Canada, South Korea, Jamaica
• Languages at home: 93% English-only · Spanish 4% Tagalog/Filipino 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: ▼ -86.09%
• Current HPI: 309.6925
• Rent YoY: ▲ 6.13%
• 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

+837.5% since first listed

6 events — show timeline

• 2026-05-11 Contingent — REINMLS
• 2026-05-05 Listed $300,000 REINMLS
• 2026-05-04 Listing Removed — REINMLS
• 2026-03-19 Listed $325,000 REINMLS
• 1992-08-03 Sold (Public Records) $62,500 Public Records
• 1984-08-10 Sold (Public Records) $32,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,434 · +6.9% YoY. Source: county tax records.