115 Dumont Ave · Norfolk, VA 23505

$335,000

5 bd · 2.0 ba · 1,297 sqft · SingleFamily public records · 27 Days on market

Built 1948 $258/sqft · at area comps Est $352k · at est.

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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 +11.0/30.0
• ARV discount +9.7/15.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• DSCR +3.2/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this charming two-story home located on a quiet cul-de-sac with minimal traffic. Enjoy a fully fenced backyard featuring a spacious deck—perfect for grilling, entertaining, or relaxing outdoors. Inside, the home offers beautiful granite countertops and a comfortable layout ideal for everyday living. Centrally located in Norfolk, you’ll have convenient access to downtown, beaches, shopping, and dining. Zoned for Granby High School, which offers the International Baccalaureate (IB) Diploma Program.

Key facts

• Convenient access
• Spacious deck
• Granite countertops

Tags

• FULLY FENCED BACKYARD
• SPACIOUS DECK
• GRANITE COUNTERTOPS
• CONVENIENT ACCESS
• ZONED FOR GRANBY HIGH SCHOOL

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (24.9% below list).
• Recommended offer: $252k (24.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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.
• Market conditions: Rents rising fast (+12.1%/yr); 106 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).
• At $2,516/mo this rent would consume 52% of the median local household income ($59k/yr) (locally 2299% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 3 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 $66k; list at $335k implies a 408% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $251,627 (24.9% 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 1948 — 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. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• GRM: 11.1

CMA / ARV

• ARV (median comp): $352,336
• List price: $335,000
• Delta: -4.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.47×
• Total profit: $-50,048
• Equity at exit: $49,950

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $5,062
• Equity at exit: $28,965

Cash invested: $93,800 (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 23505

• Home prices YoY: -19.6%
• Rents YoY: 12.1%
• Active inventory: 106
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,516 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$233 /mo · $2,791/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $-141

Break-even live

Break-even rent $2,695

Max offer price $310,078

Occupancy floor —

Sensitivity live

Price	-10% $49	-5% $-46	+0% $-141	+5% $-236	+10% $-331
Rent	-10% $-340	-5% $-240	+0% $-141	+5% $-42	+10% $58
Rate	-1.0pp $28	-0.5pp $-56	base $-141	+0.5pp $-228	+1.0pp $-316

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 Burleigh Ave Norfolk, VA	4.0	2.0	1708	$2,300	$1.35	24d	1	1.13mi
7803 Nesbitt Dr Norfolk, VA	4.0	2.0	1503	$2,495	$1.66	18d	1	1.41mi
5905 Hampton Blvd Norfolk, VA	5.0	2.0	1600	$2,500	$1.56	44d	1	1.49mi

Listing history 11 events

1. 2026-05-17
   status Under Contract 528-char remark

   Show marketing remark (528 chars)

   Come check out this charming two-story home located on a quiet cul-de-sac with minimal traffic. Enjoy a fully fenced backyard featuring a spacious deck—perfect for grilling, entertaining, or relaxing outdoors. Inside, the home offers beautiful granite countertops and a comfortable layout ideal for everyday living. Centrally located in Norfolk, you’ll have convenient access to downtown, beaches, shopping, and dining. Zoned for Granby High School, which offers the International Baccalaureate (IB) Diploma Program.

2. 2026-05-08
   historical Active Under Contract 528-char remark

   Show marketing remark (528 chars)

   Come check out this charming two-story home located on a quiet cul-de-sac with minimal traffic. Enjoy a fully fenced backyard featuring a spacious deck—perfect for grilling, entertaining, or relaxing outdoors. Inside, the home offers beautiful granite countertops and a comfortable layout ideal for everyday living. Centrally located in Norfolk, you’ll have convenient access to downtown, beaches, shopping, and dining. Zoned for Granby High School, which offers the International Baccalaureate (IB) Diploma Program.

3. 2026-04-20
   listed $335,000 Active 528-char remark

   Show marketing remark (528 chars)

   Come check out this charming two-story home located on a quiet cul-de-sac with minimal traffic. Enjoy a fully fenced backyard featuring a spacious deck—perfect for grilling, entertaining, or relaxing outdoors. Inside, the home offers beautiful granite countertops and a comfortable layout ideal for everyday living. Centrally located in Norfolk, you’ll have convenient access to downtown, beaches, shopping, and dining. Zoned for Granby High School, which offers the International Baccalaureate (IB) Diploma Program.

4. 2026-04-19
   historical
5. 2026-04-08
   status Active
6. 2026-03-30
   historical Active Under Contract
7. 2026-03-13
   price $339,000
8. 2026-03-07
   listed $349,000 Active
9. 2002-05-02
   soldstatus $66,000
10. 1992-12-01
    soldstatus $64,000
11. 1984-09-27
    soldstatus $29,000

ⓘ 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: $2,791 · $233/mo
• Projected year-2 tax: $2,791 · $233/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 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,195
• − Mortgage interest: −$18,765
• − Property taxes: −$2,791
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,416
• − Management: −$2,416
• − Depreciation: −$9,745
• Taxable loss: −$7,613
• Est. tax savings @ 24.0%: +$1,827
• After-tax cash flow: $134/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): 28,247
• Household income: $58,579
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2299.0

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 0.67)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 9% · Canada, United Kingdom, South Korea
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 1% French/Haitian/Cajun 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: ▼ -71.86%
• Current HPI: 294.9807
• Rent YoY: ▲ 12.08%
• 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

+1055.2% since first listed

11 events — show timeline

• 2026-05-17 Pending — REINMLS
• 2026-05-08 Contingent — REINMLS
• 2026-04-20 Listed $335,000 REINMLS
• 2026-04-19 Listing Removed — REINMLS
• 2026-04-08 Relisted — REINMLS
• 2026-03-30 Contingent — REINMLS
• 2026-03-13 Price Changed $339,000 REINMLS
• 2026-03-07 Listed $349,000 REINMLS
• 2002-05-02 Sold (Public Records) $66,000 Public Records
• 1992-12-01 Sold (Public Records) $64,000 Public Records
• 1984-09-27 Sold (Public Records) $29,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,791 · +6.7% YoY. Source: county tax records.