1104 Railroad Ave · Chesapeake, VA 23324

$250,000

3 bd · 3.0 ba · 1,708 sqft · SingleFamily public records · 35 Days on market

Built 2002 2,613 sqft lot Est $350k · 29% 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• Schools +5.8/10.0
• 1% rule +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-story Transitional home on a 0.06-acre lot in the heart of Chesapeake with exponential potential. The first floor features an open-concept living room that flows into the classic Kitchen with pantry, a den/family room (converted garage), and a powder room for guests. The second floor hosts the primary bedroom with vaulted ceiling and en-suite bathroom, 2 additional bedrooms, another full bathroom off the main hallway, and the laundry room. Excellent central location adjacent to schools, shopping, and highways for effortless commute. Data gleaned from the city tax record.

Key facts

• Classic kitchen
• Powder room
• Den family room

Tags

• OPEN-CONCEPT LIVING ROOM
• CLASSIC KITCHEN
• DEN FAMILY ROOM
• POWDER ROOM
• PRIMARY BEDROOM
• EN-SUITE BATHROOM

Property features AI

Finance

• Other: Listed as a fixer upper
• HOA & community: No HOA or POA fees

Exterior

• Parking: Driveway parking for 2 vehicles
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached property; Transitional style; Two stories; Slab foundation; Simple ownership
• Construction: Vinyl exterior; Asphalt shingle roof; Slab foundation
• Exterior features: Vinyl siding; Asphalt shingle roof; Approximately 0.06 acres

Interior

• Kitchen: Kitchen on 1st floor
• Bedrooms: Master bedroom on 2nd floor with ensuite; Additional bedroom(s) on 2nd floor
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning; Heat pump with A/C
• Interior features: Cathedral ceiling; Walk-in closet; Attic; Pantry; Porch; Utility closet; Converted garage
• Laundry & utility: Utility room on 2nd floor

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (4.6% below list).
• Recommended offer: $239k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 8.3% 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: Portlock Primary (541 students, 93% 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 82% FRL vs 28% district-wide (54 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 116 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).
• At $2,386/mo this rent would consume 50% 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 $2k of loan paydown is wiped out by about $8k 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 35 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $129k; list at $250k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $238,594 (4.6% 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 5% concession, seller financing, or rate buy-down credit?
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: 0.95% ✗
• Cap rate: 8.34%
• Cash-on-cash: 7.31%
• DSCR: 1.33
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $350,140
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4134 Everett St	0.32mi	3/2.5	1,544 (-10%)	1mo	$335,000	$217	67
405 W Baylor Ct	0.40mi	3/2.0	1,795 (+5%)	5mo	$365,000	$203	64
1215 Freeman Ave	0.49mi	4/2.0 (+1)	1,744 (+2%)	3mo	$336,000	$193	63
813 Carolyn Dr	0.55mi	4/2.0 (+1)	1,692 (-1%)	2mo	$375,000	$222	62
4109 Franklin St	0.28mi	3/2.5	1,500 (-12%)	3mo	$335,000	$223	62
4121 Everett St	0.37mi	4/2.0 (+1)	1,809 (+6%)	4mo	$317,000	$175	60
4126 Reid St	0.32mi	3/2.5	1,489 (-13%)	4mo	$349,900	$235	58
1105 Maryview Ave	0.30mi	4/2.0 (+1)	1,558 (-9%)	7mo	$301,500	$194	57
4111 Leyte Ave	0.62mi	4/2.0 (+1)	1,668 (-2%)	3mo	$300,000	$180	56
2105 Portlock Rd	0.52mi	3/2.0	1,512 (-12%)	7mo	$225,000	$149	47
821 Lindale Dr	0.59mi	3/2.0	1,468 (-14%)	2mo	$359,000	$245	44
3340 Country Cir	0.68mi	4/2.5 (+1)	1,948 (+14%)	1mo	$400,000	$205	37

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: -5.2%
• Equity multiple: 0.81×
• Total profit: $-13,472
• Equity at exit: $37,276

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $22,727
• Equity at exit: $21,615

Cash invested: $70,000 (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 23324

• Home prices YoY: -17.3%
• Active inventory: 116
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,386 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$43 /mo · $518/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $427

Break-even live

Break-even rent $1,846

Max offer price $250,000

Occupancy floor 77%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 Muddy Creek Rd Chesapeake, VA	3.0	2.5	1720	$2,600	$1.51	23d	1	0.60mi
511 Marc Smiley Rd Chesapeake, VA	2.0	2.5	1450	$2,350	$1.62	1d	1	0.70mi
3000 Waverton Pkwy Chesapeake, VA	2.0–3.0	1.0–2.0	1037	$1,510	$1.46	23d	1	0.75mi
1416 Cole Dr Chesapeake, VA	3.0	2.0	1732	$2,600	$1.50	23d	1	0.79mi
3406 Bainbridge Blvd Chesapeake, VA	4.0	2.5	1792	$2,700	$1.51	23d	1	0.79mi
103 Duffield Pl Chesapeake, VA	3.0	2.0	1372	$2,200	$1.60	23d	1	0.81mi
1212 Triple Crown Cir Chesapeake, VA	1.0–2.0	1.0–2.0	965	$2,180	$2.26	1d	24	0.87mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	23d	1	0.95mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	1d	1	0.95mi
1947 Candlelight Dr Chesapeake, VA	3.0	2.5	1417	$2,000	$1.41	20d	1	1.47mi
617 Lord Nelson Ct Chesapeake, VA	3.0	2.5	1840	$2,595	$1.41	3d	1	1.49mi

Listing history 8 events

1. 2026-06-07
   statusdays on market $250,000 Under Contract 35 DOM
2. 2026-06-03
   days on market $250,000 Active 33 DOM
3. 2026-06-02
   days on market $250,000 Active 32 DOM
4. 2026-06-01
   days on market $250,000 Active 31 DOM
5. 2026-05-31
   days on market $250,000 Active 30 DOM
6. 2026-04-30
   listed $250,000 Active
7. 2003-09-16
   soldstatus $129,000
8. 2003-01-16
   soldstatus $112,000

ⓘ 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: $518 · $43/mo
• Projected year-2 tax: $2,050 · $171/mo
• Expected delta: +$1,532/yr (+$128/mo · 296.0%)

ⓘ 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 (shaded) · 69% 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: $28,631
• − Mortgage interest: −$14,004
• − Property taxes: −$518
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,291
• − Management: −$2,291
• − Depreciation: −$7,273
• Taxable income: $1,006
• Est. tax owed @ 24.0%: −$241
• After-tax cash flow: $4,877/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

+123.2% since first listed

3 events — show timeline

• 2026-04-30 Listed $250,000 REINMLS
• 2003-09-16 Sold (Public Records) $129,000 Public Records
• 2003-01-16 Sold (Public Records) $112,000 Public Records

Property tax history

-8.7%/yr

Latest (2025): $518 · -64.3% YoY. Source: county tax records.