5177 Windermere Ave · Norfolk, VA 23513

$170,000

2 bd · 1.0 ba · 964 sqft · SingleFamily public records · 2 Days on market

Built 1947 0.27 ac lot $176/sqft · 35% below area Est $262k · 35% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.4/30.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• 1% rule +3.3/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special/ Fixer Upper Opportunity to add value! Solid structure with potential. Good for renovation or take advantage of the lot size. Priced to sell. Property sold as-is. Cash or renovation loans.

Key facts

• Lot size
• Solid structure
• 0.27 acre lot

Tags

• SOLID STRUCTURE
• LOT SIZE

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Detached 1-car garage; Driveway parking; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached ranch-style home; Single-story
• Construction: Crawl space foundation
• Exterior features: Vinyl siding; Back yard fenced with chain link fence; Asphalt shingle roof

Interior

• Kitchen: Electric range
• Bedrooms: At least one bedroom on the first floor
• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Wood flooring; Bedroom and full bathroom on the first floor; 5 total rooms
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (17.2% below list).
• Recommended offer: $141k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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.
• Zoned schools: Sherwood Forest Elementary (math 27% / reading 52%, grade F, #900 of 1,108 statewide, top 83%, 480 students, 98% FRL); Norview Middle (math 19% / reading 54%, grade F, #320 of 342 statewide, top 95%, 1,259 students, 89% FRL); Booker T Washington High (math 26% / reading 70%, grade D, #303 of 319 statewide, top 95%, 947 students, 94% FRL) — zoned schools average 94% FRL vs 59% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 135 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).

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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $109k; list at $170k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $140,731 (17.2% 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 1947 — 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: 0.83% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.04%
• DSCR: 0.86
• GRM: 10.1

CMA / ARV

• ARV (median comp): $261,811
• List price: $170,000
• Delta: -35.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5230 Texas Ave	0.28mi	3/1.0 (+1)	922 (-4%)	8mo	$255,000	$277	68
3513 Bertha St	0.46mi	3/1.0 (+1)	1,000 (+4%)	3mo	$297,000	$297	65
4833 Kennebeck Ave	0.37mi	3/1.0 (+1)	928 (-4%)	9mo	$250,000	$269	64
3308 Hyde Cir	0.52mi	2/1.0	919 (-5%)	7mo	$210,000	$229	62
3429 Johns St	0.15mi	3/2.0 (+1)	1,065 (+10%)	8mo	$320,000	$300	60
5200 Texas Ave	0.25mi	3/1.5 (+1)	1,100 (+14%)	7mo	$234,000	$213	52
1345 Strand St	0.70mi	2/2.0	1,000 (+4%)	7mo	$250,000	$250	51
3029 Dayton Ct	0.45mi	3/1.0 (+1)	864 (-10%)	7mo	$252,000	$292	51
5756 Azalea Garden Rd	0.69mi	3/1.0 (+1)	1,020 (+6%)	6mo	$330,000	$324	48
4832 Hampshire Ave	0.55mi	2/1.0	834 (-14%)	6mo	$225,000	$270	47
6131 Alexander St	0.65mi	3/2.0 (+1)	1,032 (+7%)	3mo	$231,610	$224	46
4741 Krick St	0.74mi	3/1.5 (+1)	1,050 (+9%)	0mo	$185,000	$176	44

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 · 3.42% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.27×
• Total profit: $-34,577
• Equity at exit: $25,348

10-year hold

• IRR: -13.1%
• Equity multiple: 0.22×
• Total profit: $-37,302
• Equity at exit: $14,698

Cash invested: $47,600 (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 23513

• Home prices YoY: -9.3%
• Rents YoY: 3.4%
• Active inventory: 135
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,407 high
• Mortgage (P&I): −$891
• Tax from tax record: −$270 /mo · $3,241/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-121

Break-even live

Break-even rent $1,560

Max offer price $148,688

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-73	+0% $-121	+5% $-169	+10% $-217
Rent	-10% $-232	-5% $-176	+0% $-121	+5% $-65	+10% $-9
Rate	-1.0pp $-35	-0.5pp $-77	base $-121	+0.5pp $-165	+1.0pp $-210

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2707 Azalea Garden Rd Apt B3 Norfolk, VA	2.0	1.0	680	$1,195	$1.76	25d	1	0.38mi
3475 Azalea Garden Rd Norfolk, VA	1.0	1.0	700	$995	$1.42	45d	1	0.44mi
3044 Sewells Point Rd Norfolk, VA	2.0	1.0	830	$1,134	$1.37	3d	1	0.48mi
4802 Norvella Ave Unit 1 Norfolk, VA	2.0	1.0	800	$1,050	$1.31	9d	1	0.54mi
2640 Azalea Garden Rd Norfolk, VA	3.0	1.5	1100	$2,150	$1.95	5d	1	0.61mi
3326 Sandy St Norfolk, VA	3.0	1.0	1040	$1,695	$1.63	4d	1	0.61mi
4745 Lind St Unit A Norfolk, VA	2.0	1.0	1000	$1,600	$1.60	45d	1	0.65mi
4745 Lind St Unit B Norfolk, VA	2.0	1.0	752	$1,350	$1.80	3d	1	0.65mi
1232 Norview Ave Unit NOR1232R-EA Norfolk, VA	3.0	2.0	1106	$1,600	$1.45	45d	1	0.66mi
6225 Alexander St Norfolk, VA	2.0	1.0	750	$1,299	$1.73	45d	1	0.74mi
6225 Alexander St Unit F Norfolk, VA	2.0	1.0	750	$1,499	$2.00	22d	1	0.75mi
1721 Norview Ave Norfolk, VA	1.0	1.0	800	$1,150	$1.44	45d	1	0.76mi
6241 Alexander St Unit F Norfolk, VA	2.0	1.0	704	$895	$1.27	14d	1	0.77mi
6249 Alexander St Unit C Norfolk, VA	2.0	1.0	817	$1,195	$1.46	19d	1	0.78mi
6249 Alexander St Unit F Norfolk, VA	2.0	1.0	817	$1,195	$1.46	5d	1	0.78mi
6249 Alexander St Unit C Norfolk, VA	2.0	1.0	817	$1,195	$1.46	25d	1	0.78mi
6228 Chesapeake Blvd Unit G Norfolk, VA	2.0	1.0	885	$925	$1.05	45d	1	0.80mi
6234 Chesapeake Blvd Norfolk, VA	2.0	1.0	986	$925	$0.94	19d	1	0.82mi
2412 Azalea Garden Rd Unit 212 Norfolk, VA	1.0	1.0	800	$1,025	$1.28	45d	1	0.88mi
2412 Azalea Garden Rd Apt 210 Norfolk, VA	2.0	1.0	950	$1,325	$1.39	45d	1	0.88mi
2412 Azalea Garden Rd Unit 105 Norfolk, VA	2.0	1.0	950	$1,325	$1.39	25d	1	0.88mi
4566 Hampshire Ave Unit A Norfolk, VA	2.0	1.0	870	$1,350	$1.55	45d	1	0.89mi
3820 Essex Cir Unit A Norfolk, VA	2.0	1.0	1000	$2,200	$2.20	23d	1	0.94mi
3820 Essex Cir #1 Norfolk, VA	2.0	1.0	1000	$2,250	$2.25	19d	1	0.94mi
3820 Essex Cir Unit B 1 Norfolk, VA	2.0	1.0	900	$1,700	$1.89	23d	1	0.94mi
2403 Sewells Point Rd Unit 3 Norfolk, VA	1.0	1.0	600	$950	$1.58	45d	1	0.95mi
6343 Chesapeake Blvd Apt communities Norfolk, VA	2.0	1.0	750	$1,099	$1.47	23d	1	0.98mi
6450 Crescent Way Norfolk, VA	1.0–3.0	1.0–2.0	1128	$2,069	$1.83	4d	23	1.01mi
6340 Sewells Point Rd Apt communities Norfolk, VA	2.0	1.0	750	$1,099	$1.47	23d	1	1.01mi
4852 E Princess Anne Rd Norfolk, VA	1.0	1.0	700	$1,099	$1.57	19d	1	1.10mi
4670 Kincaid Ave Apt E Norfolk, VA	2.0	1.0	800	$1,250	$1.56	4d	1	1.11mi
1445 Norcova Ave Apt E Norfolk, VA	2.0	1.0	750	$1,125	$1.50	45d	1	1.12mi
1524 Longdale Dr Norfolk, VA	1.0	1.0	650	$1,350	$2.08	5d	1	1.17mi
3801 Chatham Cir Unit 2 Norfolk, VA	2.0	1.0	1100	$1,350	$1.23	9d	1	1.23mi
4505 Cape Henry Ave Norfolk, VA	2.0	1.0	720	$1,000	$1.39	45d	1	1.23mi
1371 E Norcova Dr Norfolk, VA	2.0	1.0	967	$1,750	$1.81	9d	1	1.29mi
3872 Wake Cir Unit A Norfolk, VA	2.0	1.0	750	$1,395	$1.86	4d	1	1.35mi
3872 Wake Cir Unit A Norfolk, VA	2.0	1.0	750	$1,395	$1.86	45d	1	1.35mi
3400 Lafayette Blvd #2 Norfolk, VA	2.0	1.0	800	$1,350	$1.69	4d	1	1.45mi

Listing history 3 events

1. 2026-05-09
   status Under Contract 205-char remark
2. 2026-05-07
   listed $170,000 Active 205-char remark
3. 2005-07-07
   soldstatus $109,000

ⓘ 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: $3,241 · $270/mo
• Projected year-2 tax: $3,241 · $270/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 ≥105°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,888
• − Mortgage interest: −$9,523
• − Property taxes: −$3,241
• − Insurance: −$850
• − Repairs & maintenance: −$1,351
• − Management: −$1,351
• − Depreciation: −$4,945
• Taxable loss: −$4,373
• Est. tax savings @ 24.0%: +$1,050
• After-tax cash flow: $-398/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): 28,628
• Household income: $68,380
• Rent vs Own: 43.9% rent · 56.1% own
• Severe rent burden: 1342.0

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 0.63)
• Race & ethnicity: Black 55% White 23% Hispanic / Latino 11% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 0%
• Foreign-born: 10% · Canada
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 4% 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: ▼ -33.67%
• Current HPI: 329.2241
• Rent YoY: ▲ 3.42%
• 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

+56.0% since first listed

3 events — show timeline

• 2026-05-09 Pending — REINMLS
• 2026-05-07 Listed $170,000 REINMLS
• 2005-07-07 Sold (Public Records) $109,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $3,241 · +0.9% YoY. Source: county tax records.