263 Norfolk Ave · Bristol, VA 24201

$130,000

2 bd · 1.0 ba · 1,127 sqft · SingleFamily public records · 35 Days on market

Built 1921 7,405 sqft lot $115/sqft · 16% above area Est $110k · 19% over

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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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +6.7/10.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

(BACK ON THE MARKET - PREVIOUS BUYER'S FINANCING FELL THROUGH) Great opportunity for a starter home or for someone who is downsizing and your mortgage payment would be much less than a rent payment . .. or for an investor wanting a rental property since the average rent has increased 19% in the last 12 months. This home offers 2 bedrooms, 1 full bathroom, a large living room and large eat-in kitchen. There's a laundry/mud room off the kitchen which then leads to the back yard. Check this one out! (Previous address - 705 Norfolk Ave) (Inspections welcome. Property being sold as-is. )

Key facts

• Covered front porch
• Retro cabinets
• Copper backsplash

Tags

• HARDWOOD FLOORS
• BUTCHER BLOCK COUNTERTOPS
• COPPER BACKSPLASH
• RETRO CABINETS
• COVERED FRONT PORCH
• EASY TO MAINTAIN YARD

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story; Residential property; Zoned R-2
• Construction: Metal siding; Shingle siding
• Exterior features: Shingle roof; Level lot

Interior

• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning
• Interior features: Wood flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 4.9% in Bristol — 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 74/100 on livability (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bristol City Public School District (urban): math 57% / reading 70% proficiency, ranked #53 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Highland View Elementary (math 42% / reading 62%, grade C-, #696 of 1,108 statewide, top 66%, 175 students, 98% FRL); Virginia Middle (math 56% / reading 71%, grade B+, #128 of 342 statewide, top 39%, 487 students, 101% FRL); Virginia High (math 62% / reading 77%, grade B, #159 of 319 statewide, top 53%, 637 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 15 units permitted in Bristol city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bristol County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $74k; list at $130k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — 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. 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?
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: 1.17% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.42%
• DSCR: 1.64
• GRM: 7.1

CMA / ARV

• ARV (median comp): $109,521
• List price: $130,000
• Delta: 18.70%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
723 Portsmouth Ave	0.09mi	3/1.0 (+1)	1,180 (+5%)	4mo	$180,000	$153	80
905 Barker Street St	0.40mi	2/1.0	1,101 (-2%)	4mo	$156,000	$142	74
938 Barker St	0.47mi	3/1.0 (+1)	1,170 (+4%)	9mo	$79,000	$68	59
124 Reservoir St	0.27mi	3/1.0 (+1)	1,005 (-11%)	8mo	$132,000	$131	58
510 Mcdowell St	0.38mi	3/1.0 (+1)	1,246 (+11%)	9mo	$36,000	$29	52
116 Elizabeth St	0.68mi	2/2.0	1,064 (-6%)	4mo	$185,550	$174	52
159 King Mill Pike	0.71mi	3/1.5 (+1)	1,095 (-3%)	6mo	$175,000	$160	50
108 Lily St	0.63mi	3/1.5 (+1)	1,040 (-8%)	1mo	$195,000	$188	50
934 Massachusetts Ave	0.29mi	3/2.0 (+1)	957 (-15%)	8mo	$125,000	$131	46
837 E State St	0.52mi	3/2.0 (+1)	1,248 (+11%)	4mo	$200,000	$160	45
474 Whitt St	0.62mi	3/1.5 (+1)	1,232 (+9%)	6mo	$162,000	$131	43
382 Texas Ave	0.64mi	2/1.0	973 (-14%)	6mo	$99,000	$102	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: 4.8%
• Equity multiple: 1.18×
• Total profit: $6,731
• Equity at exit: $19,383

10-year hold

• IRR: 14.2%
• Equity multiple: 2.14×
• Total profit: $41,484
• Equity at exit: $11,240

Cash invested: $36,400 (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 24201

• Active inventory: 156
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,517 high
• Mortgage (P&I): −$682
• Tax from tax record: −$25 /mo · $304/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $437

Break-even live

Break-even rent $964

Max offer price $130,000

Occupancy floor 66%

Sensitivity live

Price	-10% $511	-5% $474	+0% $437	+5% $401	+10% $364
Rent	-10% $318	-5% $377	+0% $437	+5% $497	+10% $557
Rate	-1.0pp $503	-0.5pp $470	base $437	+0.5pp $404	+1.0pp $369

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
279 Reservoir St Bristol, VA	3.0	1.5	1300	$1,600	$1.23	13d	1	0.36mi
135 Kingsolver St Bristol, VA	2.0	1.0	1000	$1,400	$1.40	21d	1	0.53mi
1733 Dunlap St Bristol, VA	3.0	1.0	900	$1,250	$1.39	13d	1	0.72mi
1001 Virginia Ave Unit 2 Bristol, TN	2.0	1.0	800	$1,375	$1.72	21d	1	0.95mi
816 Goode St Bristol, VA	1.0	1.0	822	$2,000	$2.43	13d	1	0.97mi
1206 Golf St Bristol, TN	3.0	1.0	960	$1,500	$1.56	13d	1	1.10mi
1216 Norway St Unit 102 Bristol, VA	2.0	1.0	1215	$1,600	$1.32	13d	1	1.46mi

Listing history 22 events

1. 2026-06-19
   days on market $130,000 Active 35 DOM
2. 2026-06-18
   days on market $130,000 Active 34 DOM
3. 2026-06-17
   days on market $130,000 Active 33 DOM
4. 2026-06-16
   days on market $130,000 Active 32 DOM
5. 2026-06-15
   days on market $130,000 Active 31 DOM
6. 2026-06-14
   days on market $130,000 Active 29 DOM
7. 2026-06-13
   days on market $130,000 Active 28 DOM
8. 2026-06-10
   days on market $130,000 Active 26 DOM
9. 2026-06-09
   days on market $130,000 Active 25 DOM
10. 2026-06-08
    days on market $130,000 Active 24 DOM
11. 2026-06-07
    days on market $130,000 Active 23 DOM
12. 2026-06-03
    days on market $130,000 Active 19 DOM
13. 2026-06-02
    days on market $130,000 Active 18 DOM
14. 2026-06-01
    days on market $130,000 Active 17 DOM
15. 2026-05-31
    days on market $130,000 Active 16 DOM
16. 2026-05-30
    days on market $130,000 Active 15 DOM
17. 2026-05-15
    listed $130,000 Active 886-char remark
18. 2023-03-08
    soldstatus $74,000

    Show marketing remark (590 chars)

    (BACK ON THE MARKET - PREVIOUS BUYER'S FINANCING FELL THROUGH) Great opportunity for a starter home or for someone who is downsizing and your mortgage payment would be much less than a rent payment . .. or for an investor wanting a rental property since the average rent has increased 19% in the last 12 months. This home offers 2 bedrooms, 1 full bathroom, a large living room and large eat-in kitchen. There's a laundry/mud room off the kitchen which then leads to the back yard. Check this one out! (Previous address - 705 Norfolk Ave) (Inspections welcome. Property being sold as-is. )

19. 2023-03-08
    soldstatus $74,000

    Show marketing remark (590 chars)

    (BACK ON THE MARKET - PREVIOUS BUYER'S FINANCING FELL THROUGH) Great opportunity for a starter home or for someone who is downsizing and your mortgage payment would be much less than a rent payment . .. or for an investor wanting a rental property since the average rent has increased 19% in the last 12 months. This home offers 2 bedrooms, 1 full bathroom, a large living room and large eat-in kitchen. There's a laundry/mud room off the kitchen which then leads to the back yard. Check this one out! (Previous address - 705 Norfolk Ave) (Inspections welcome. Property being sold as-is. )

20. 2022-02-26
    listed $76,900

    Show marketing remark (590 chars)

    (BACK ON THE MARKET - PREVIOUS BUYER'S FINANCING FELL THROUGH) Great opportunity for a starter home or for someone who is downsizing and your mortgage payment would be much less than a rent payment . .. or for an investor wanting a rental property since the average rent has increased 19% in the last 12 months. This home offers 2 bedrooms, 1 full bathroom, a large living room and large eat-in kitchen. There's a laundry/mud room off the kitchen which then leads to the back yard. Check this one out! (Previous address - 705 Norfolk Ave) (Inspections welcome. Property being sold as-is. )

21. 2018-03-03
    listed $44,900
22. 2006-04-28
    soldstatus $33,646

ⓘ 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: $304 · $25/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$762/yr (+$64/mo · 251.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥98°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,207
• − Mortgage interest: −$7,282
• − Property taxes: −$304
• − Insurance: −$650
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − Depreciation: −$3,782
• Taxable income: $3,276
• Est. tax owed @ 24.0%: −$786
• After-tax cash flow: $4,463/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: Bristol City Public School District
• NCES district ID: 5100450
• Math proficiency: 57% ▼ -24.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $33,978
• Composite: 52.4/100
• National rank: #1579
• State rank: #53 of 131 in VA

Livability — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

Amenities C+ Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, VA
• City population: 16,039
• Population (ZIP): 16,039

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 16,113 people
• By 2030: 15,510 · -3.7%
• By 2040: 14,121 · -12.4%
• By 2050: 12,847 · -20.3%
• By 2075: 9,870 · -38.7%
• By 2100: 7,883 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Serbian 1% Iranian 0%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Bristol

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -13.6pp toward R · 2008: -26.0pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+38.9 2016: R+43.8 2012: R+31.1 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.40%
• Current HPI: 196.2099
• Rent YoY: —
• Metro: —
• 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

+286.4% since first listed

6 events — show timeline

• 2026-05-15 Listed $130,000 SWVAR
• 2023-03-08 Sold (Public Records) $74,000 Public Records
• 2023-03-08 Sold (MLS) $74,000 TVRMLS
• 2022-02-26 Listed $76,900 TVRMLS
• 2018-03-03 Listed $44,900 SWVAR
• 2006-04-28 Sold (Public Records) $33,646 Public Records