9550 Selby Pl · Norfolk, VA 23503

$325,900

3 bd · 2.5 ba · 2,021 sqft · SingleFamily public records · 7 Days on market

Built 1948 9,147 sqft lot Est $392k · 17% 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 +11.4/30.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.5/10.0
• DSCR +3.3/10.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3-bedroom, 3.5-bath home offering approximately 2,402 sq. ft. on a corner lot. Features include hardwood floors, generous living spaces, and a detached garage with power and water. Excellent opportunity for buyers seeking sweat equity, renovation potential, or investment value. Property is being sold strictly As-Is; seller will make no repairs. Cash, renovation financing, or other suitable financing options welcome. Bring your vision and make this property your own-call for your private showing today!

Key facts

• 9,147 sq ft lot
• Garage
• Built 1948

Property features AI

Finance

• Other: Neighborhood: PINEWELL
• HOA & community: No HOA fees indicated

Exterior

• Parking: Detached 1-car garage; Driveway space; Street parking
• Utilities: City/County sewer; City/County water; Electric water heater; Natural gas for heating
• Home design: Detached traditional-style home; 2 stories; Crawl foundation
• Construction: Stucco and vinyl siding; Asphalt shingle roof; Built on crawlspace
• Exterior features: Corner lot; Back yard fenced; Storage shed; Porch

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Pantry
• Bedrooms: First-floor master bedroom; One bedroom with ensuite
• Flooring: Wood flooring; Vinyl flooring; Ceramic flooring
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Forced hot air heating (natural gas); Central air conditioning; Electric water heater
• Interior features: Fireplace (wood); Ceiling fan; Cable hookup; Pull-down attic stairs; Attic; Sun room; Porch; Workshop; Pantry; Utility room
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $326k.

Deal economics

• At list price, monthly cash flow is $-180 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (17.7% below list).
• Recommended offer: $268k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Ocean View Elementary (math 20% / reading 53%, grade F, #953 of 1,108 statewide, top 86%, 456 students, 98% FRL); Granby High (math 33% / reading 80%, grade C, #270 of 319 statewide, top 86%, 1,837 students, 94% FRL) — zoned schools average 96% FRL vs 59% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 192 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).
• At $2,682/mo this rent would consume 48% of the median local household income ($68k/yr) (locally 1948% 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,226 (17.7% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.49%
• DSCR: 0.93
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $392,074
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9546 1st View St	0.30mi	3/2.5	1,900 (-6%)	1mo	$460,000	$242	75
9516 Hammett Pkwy	0.16mi	4/2.0 (+1)	1,813 (-10%)	2mo	$440,000	$243	67
918 Virgilina Ave	0.56mi	4/2.5 (+1)	2,006 (-1%)	4mo	$374,000	$186	64
145 Maple Ave	0.49mi	3/2.0	1,900 (-6%)	2mo	$383,340	$202	64
333 W Government Ave	0.60mi	4/3.0 (+1)	2,059 (+2%)	1mo	$435,000	$211	61
174 Seaview Ave	0.28mi	3/3.5	2,227 (+10%)	8mo	$422,000	$189	59
407 W Government Ave	0.70mi	4/2.5 (+1)	2,002 (-1%)	2mo	$443,000	$221	59
9418 Atwood Ave	0.67mi	4/2.0 (+1)	2,081 (+3%)	5mo	$215,000	$103	53
9253 Marlow Ave	0.69mi	4/2.0 (+1)	1,900 (-6%)	5mo	$340,000	$179	47
9314 1st View St	0.55mi	4/2.5 (+1)	2,217 (+10%)	8mo	$385,000	$174	46
421 E Randall Ave	0.61mi	4/2.0 (+1)	1,805 (-11%)	4mo	$349,900	$194	44
9269 1st View St	0.66mi	4/2.5 (+1)	2,280 (+13%)	3mo	$440,000	$193	40

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 · 4.76% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.35×
• Total profit: $-59,370
• Equity at exit: $48,593

10-year hold

• IRR: -7.3%
• Equity multiple: 0.50×
• Total profit: $-45,619
• Equity at exit: $28,178

Cash invested: $91,252 (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 23503

• Home prices YoY: -19.9%
• Rents YoY: 4.8%
• Active inventory: 192
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,682 high
• Mortgage (P&I): −$1,709
• Tax from tax record: −$388 /mo · $4,652/yr
• Insurance: −$136
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $-180

Break-even live

Break-even rent $2,910

Max offer price $294,106

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-88	+0% $-180	+5% $-272	+10% $-364
Rent	-10% $-392	-5% $-286	+0% $-180	+5% $-74	+10% $32
Rate	-1.0pp $-16	-0.5pp $-97	base $-180	+0.5pp $-264	+1.0pp $-350

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: $81,475
• Closing costs: $9,777
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9708 Ship Watch Rd Norfolk, VA	4.0	3.5	2112	$3,300	$1.56	24d	1	0.31mi
9385 Pine Tree Rd Norfolk, VA	4.0	2.5	2200	$3,600	$1.64	24d	1	0.36mi
719 E Ocean View Ave Norfolk, VA	3.0	2.0	1503	$2,700	$1.80	44d	1	0.44mi
432 E Gilpin Ave Norfolk, VA	4.0	2.5	2202	$3,200	$1.45	11d	1	0.52mi
220 E Randall Ave Norfolk, VA	3.0	1.5	1500	$2,300	$1.53	20d	1	0.60mi
9429 Chesapeake St Norfolk, VA	3.0	2.0	1600	$2,500	$1.56	44d	1	0.64mi
324 E Leicester Ave Norfolk, VA	4.0	1.0	1600	$2,100	$1.31	44d	1	0.64mi
937 E Ocean View Ave Norfolk, VA	4.0	2.5	2395	$3,500	$1.46	24d	1	0.67mi
424 E Ocean Ave Norfolk, VA	4.0	2.0	1953	$2,650	$1.36	44d	1	0.70mi
130 E Ocean Ave Norfolk, VA	3.0	2.0	1563	$2,500	$1.60	13d	1	0.72mi
9228 1st View St Norfolk, VA	4.0	2.5	2178	$3,250	$1.49	8d	1	0.74mi
9414 Atlans St Norfolk, VA	4.0	2.5	2412	$3,300	$1.37	44d	1	0.77mi
121 Winshire St Norfolk, VA	3.0	2.0	1440	$2,200	$1.53	44d	1	0.87mi
362 Ridgewell Ave Norfolk, VA	4.0	1.0	1700	$1,850	$1.09	44d	1	0.93mi
619 Earl St Norfolk, VA	4.0	2.0	1428	$2,395	$1.68	44d	1	1.12mi
415 Fresh Meadow Rd Norfolk, VA	4.0	2.0	2273	$3,200	$1.41	44d	1	1.15mi
8634 Granby St Norfolk, VA	3.0	2.0	1500	$1,950	$1.30	17d	1	1.25mi
1420 E Ocean View Ave Norfolk, VA	3.0	2.5	1465	$2,300	$1.57	24d	1	1.28mi
9408 Willow Ct Norfolk, VA	3.0	2.0	2000	$2,950	$1.48	44d	1	1.32mi
8507 Chapin St Norfolk, VA	4.0	2.0	1550	$2,400	$1.55	44d	1	1.39mi

Listing history 6 events

1. 2026-06-18
   days on market $325,900 Active 7 DOM
2. 2026-06-17
   days on market $325,900 Active 6 DOM
3. 2026-06-16
   days on market $325,900 Active 5 DOM
4. 2026-06-15
   days on market $325,900 Active 4 DOM
5. 2026-06-13
   remarks 515-char remark
6. 2026-06-13
   listed $325,900 Active 2 DOM

ⓘ 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: $4,652 · $388/mo
• Projected year-2 tax: $4,652 · $388/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 7/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,187
• − Mortgage interest: −$18,255
• − Property taxes: −$4,652
• − Insurance: −$2,427
• − Repairs & maintenance: −$2,575
• − Management: −$2,575
• − Depreciation: −$9,481
• Taxable loss: −$7,778
• Est. tax savings @ 24.0%: +$1,867
• After-tax cash flow: $-293/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): 30,216
• Household income: $67,649
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 1948.0

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: White 56% Black 20% Hispanic / Latino 13% Two or more races 9% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -78.48%
• Current HPI: 316.1563
• Rent YoY: ▲ 4.76%
• 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

+312.5% since first listed

9 events — show timeline

• 2026-06-11 Listed $325,900 REINMLS
• 2026-03-31 Listing Removed — REINMLS
• 2026-01-20 Contingent — REINMLS
• 2025-10-03 Relisted — REINMLS
• 2025-10-02 Listing Removed — REINMLS
• 2025-09-26 Listed $320,000 REINMLS
• 2006-04-04 Sold (Public Records) $350,000 Public Records
• 1993-02-26 Sold (Public Records) $109,100 Public Records
• 1984-07-30 Sold (Public Records) $79,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,652 · -2.2% YoY. Source: county tax records.