2049 Christian Ave · Chesapeake, VA 23324

$169,900

4 bd · 2.0 ba · 1,866 sqft · SingleFamily public records · 14 Days on market

Built 1953

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unlock the potential of this Chesapeake property—an exceptional opportunity for investors, builders, or buyers ready to take on a project. Situated on a desirable corner lot and offering larger square footage than several nearby investor comps, this property presents strong upside potential and plenty of room for profit. Offered as-is, where-is, the seller will make no repairs. Whether you're planning a full renovation, repositioning for resale, redevelopment, or a buy-and-hold investment, the possibilities here are undeniable. With nearby development this area is experiencing continued growth, making this a prime opportunity for investors. Conveniently located with easy access to maj

Key facts

• Corner lot
• Nearby development
• Built 1953

Tags

• CORNER LOT
• EASY ACCESS TO MAJOR ROUTES
• NEARBY DEVELOPMENT
• EXCELLENT ROI OPPORTUNITY

Property features AI

Finance

• Other: Property listed as fixer upper
• HOA & community: No HOA fees

Exterior

• Parking: Street parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached split-level home; 2 stories; 2 living levels; Simple ownership; Crawl foundation
• Construction: Brick and vinyl exterior; Asphalt shingle roof; Crawlspace foundation
• Exterior features: Corner lot; Brick and vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Electric range
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on first floor
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced hot air heating; Cooling: Other
• Interior features: Wood-burning fireplace; Attic
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 11.8% 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: Rena B. Wright Primary (271 students, 96% FRL); Oscar Smith Middle (math 24% / reading 54%, grade F, #309 of 342 statewide, top 91%, 958 students, 90% 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 85% FRL vs 28% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 54% at this address vs 66% district-wide (-12 pts) — the specific schools serving this property underperform the Chesapeake City Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: 118 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).
• At $2,454/mo this rent would consume 52% 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $169,900

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.44% ✓
• Cap rate: 11.82%
• Cash-on-cash: 19.73%
• DSCR: 1.88
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $360,138
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2049 Christian Ave	0.00mi	4/2.0	1,866 (0%)	1mo	$165,000	$88	99
2130 Berkley Ave	0.11mi	4/3.0	1,770 (-5%)	0mo	$351,000	$198	82
1510 Landsworth St	0.28mi	3/2.0 (-1)	1,722 (-8%)	1mo	$357,000	$207	68
1230 Commerce Ave	0.61mi	4/3.0	1,760 (-6%)	1mo	$340,000	$193	58
2016 Jefferson St	0.43mi	4/3.0	2,080 (+12%)	2mo	$408,000	$196	56
1212 Hatton St	0.51mi	4/2.5	2,092 (+12%)	2mo	$365,000	$174	53
1102 Bethel Rd	0.42mi	4/2.5	2,136 (+14%)	2mo	$405,000	$190	53
1308 Seaboard Ave	0.70mi	4/3.0	2,002 (+7%)	1mo	$320,000	$160	51
610 Mooney Rd	0.71mi	4/2.5	2,040 (+9%)	1mo	$400,000	$196	48
1302 Hatton St	0.49mi	3/2.0 (-1)	1,600 (-14%)	2mo	$310,000	$194	47
1432 Tatemstown Rd	0.54mi	4/3.0	2,140 (+15%)	1mo	$406,000	$190	46
1416 Martin Ave	0.65mi	3/2.5 (-1)	1,600 (-14%)	2mo	$230,000	$144	38

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: 11.8%
• Equity multiple: 1.47×
• Total profit: $22,312
• Equity at exit: $25,333

10-year hold

• IRR: 20.8%
• Equity multiple: 2.76×
• Total profit: $83,682
• Equity at exit: $14,690

Cash invested: $47,572 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,454 high
• Mortgage (P&I): −$891
• Tax from tax record: −$194 /mo · $2,333/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $782

Break-even live

Break-even rent $1,464

Max offer price $169,900

Occupancy floor 63%

Sensitivity live

Price	-10% $878	-5% $830	+0% $782	+5% $734	+10% $686
Rent	-10% $588	-5% $685	+0% $782	+5% $879	+10% $976
Rate	-1.0pp $868	-0.5pp $825	base $782	+0.5pp $738	+1.0pp $693

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1510 Wilson Rd #4 Norfolk, VA	3.0	1.0	1273	$1,400	$1.10	21d	1	0.45mi
1510 Wilson Rd Unit 3 Norfolk, VA	3.0	1.0	1273	$1,200	$0.94	45d	1	0.45mi
1021 Joyce St Norfolk, VA	5.0	3.0	2612	$4,000	$1.53	45d	1	0.51mi
1729 Todd St Norfolk, VA	3.0	2.5	2000	$2,450	$1.23	25d	1	0.52mi
1009 Elkin St Norfolk, VA	4.0	2.5	1914	$2,500	$1.31	14d	1	0.65mi
1512 Marsh St Norfolk, VA	3.0	2.5	1727	$2,195	$1.27	45d	1	0.69mi
1108 Jackson Ave Chesapeake, VA	3.0	2.0	1784	$2,100	$1.18	5d	1	0.69mi
2638 King Ct Chesapeake, VA	3.0	1.5	1462	$2,000	$1.37	21d	1	0.88mi
2620 Sunrise Ave Chesapeake, VA	3.0	1.5	1462	$1,850	$1.27	25d	1	0.91mi
1110 Park Ave Unit 23324 Chesapeake, VA	3.0	2.0	1749	$2,200	$1.26	25d	1	0.92mi
1110 Park Ave Chesapeake, VA	3.0	2.0	1749	$2,100	$1.20	16d	1	0.92mi
1231 Stewart St Chesapeake, VA	4.0	2.5	2159	$2,550	$1.18	5d	1	0.92mi
722 Culpepper St Norfolk, VA	5.0	4.0	1742	$2,550	$1.46	45d	1	1.01mi
1151 Perry St Chesapeake, VA	3.0	1.0	1296	$2,000	$1.54	18d	1	1.02mi
413 Walker Ave Norfolk, VA	5.0	3.5	2200	$3,500	$1.59	45d	1	1.13mi
1008 Grayson St Norfolk, VA	3.0	2.0	2200	$2,495	$1.13	45d	1	1.22mi
127 Poplar Ave Unit 1 Norfolk, VA	3.0	2.0	1700	$2,199	$1.29	25d	1	1.29mi
201 Bellamy Ave Norfolk, VA	5.0	2.5	2200	$2,750	$1.25	45d	1	1.34mi
2624 Chesterfield Blvd Norfolk, VA	4.0	1.5	1512	$2,000	$1.32	45d	1	1.37mi
2800 Chesterfield Blvd Norfolk, VA	3.0	2.5	1760	$2,400	$1.36	5d	1	1.38mi
2540 Holly Point Blvd Chesapeake, VA	1.0–3.0	1.0–2.0	1250	$2,680	$2.14	3d	20	1.41mi
329 S Main St Norfolk, VA	3.0	3.0	1652	$3,000	$1.82	45d	1	1.43mi
2806 Kimball Ter Norfolk, VA	3.0	2.5	1700	$2,100	$1.24	46d	1	1.49mi

Listing history 3 events

1. 2026-05-16
   status Under Contract
2. 2026-05-07
   historical Active Under Contract
3. 2026-05-01
   listed $169,900 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: $2,333 · $194/mo
• Projected year-2 tax: $2,333 · $194/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 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: $29,444
• − Mortgage interest: −$9,517
• − Property taxes: −$2,333
• − Insurance: −$850
• − Repairs & maintenance: −$2,355
• − Management: −$2,355
• − Depreciation: −$4,943
• Taxable income: $7,090
• Est. tax owed @ 24.0%: −$1,702
• After-tax cash flow: $7,684/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

3 events — show timeline

• 2026-05-16 Pending — REINMLS
• 2026-05-07 Contingent — REINMLS
• 2026-05-01 Listed $169,900 REINMLS

Property tax history

+3.7%/yr

Latest (2025): $2,333 · +2.9% YoY. Source: county tax records.