2712 Fenway Ave · Chesapeake, VA 23323

$358,900

3 bd · 1.0 ba · 1,257 sqft · SingleFamily public records · 57 Days on market

Built 1963 Est $321k · 12% over

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Why this score? — see what drove the F 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 +8.4/30.0
• Schools +5.8/10.0
• Rent growth +4.0/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• ARV discount +2.1/15.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully renovated ranch in Chesapeake. This 4 bedroom, 1.5 bath oasis has new windows, roof, bathroom vanities, kitchen cabinets, stainless steel appliances, granite countertops, HVAC system, luxury vinyl flooring, with a private backyard and detached garage. Make this fantastic home your dream home.

Key facts

• Garage
• Built 1963
• Listed 57 days

Property features AI

Finance

• HOA & community: No HOA fees reported

Exterior

• Parking: Detached 1-car garage; Driveway parking (2 spaces)
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached single-family home; Ranch style; Single-story (1 living level); Simple ownership; Facing wooded view
• Construction: Brick and vinyl siding; Asphalt shingle roof; Crawl space foundation; Built as a detached ranch
• Exterior features: Deck; Back yard fenced with chain link; Wooded view

Interior

• Kitchen: Dishwasher; Microwave; Electric range; Refrigerator
• Bedrooms: First-floor master bedroom; Bedroom and full bathroom on first floor
• Flooring: Ceramic floors; Laminate floors
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Cable hookup; Converted garage; Utility room
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $359k.

Deal economics

• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (31.8% below list).
• Recommended offer: $245k (31.8% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: Deep Creek Elementary (math 66% / reading 72%, grade A-, #351 of 1,108 statewide, top 32%, 763 students, 45% FRL); Deep Creek High (math 70% / reading 82%, grade A-, #102 of 319 statewide, top 32%, 1,597 students, 49% FRL) — zoned schools average 47% FRL vs 28% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 177 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 57 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $165k; list at $359k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $244,789 (31.8% 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. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.68% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.82%
• DSCR: 0.83
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $320,535
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2712 Fenway Ave	0.00mi	4/1.5 (+1)	1,350 (+7%)	1mo	$358,900	$266	80
2700 Hoyt Dr	0.18mi	3/1.0	1,314 (+4%)	6mo	$332,000	$253	78
2856 Flag Rd	0.45mi	3/1.0	1,319 (+5%)	1mo	$325,000	$246	70
2825 Willowwood Dr	0.64mi	3/1.5	1,272 (+1%)	6mo	$305,000	$240	61
820 Henry Ave	0.58mi	3/1.5	1,176 (-6%)	0mo	$300,000	$255	60
237 Stubbs Dr	0.65mi	3/2.0	1,240 (-1%)	9mo	$340,000	$274	56
2620 Hillard St	0.31mi	4/1.0 (+1)	1,428 (+14%)	9mo	$334,900	$235	50
448 Plummer Dr	0.68mi	3/1.5	1,126 (-10%)	4mo	$365,000	$324	46
3229 Troy Ln	0.75mi	4/2.0 (+1)	1,303 (+4%)	6mo	$370,000	$284	45
413 George Washington Hwy N	0.70mi	2/2.0 (-1)	1,356 (+8%)	2mo	$151,600	$112	44
473 W Blanche Dr	0.74mi	3/2.0	1,200 (-4%)	13mo	$338,000	$282	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 · 6.13% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.30×
• Total profit: $-70,675
• Equity at exit: $53,513

10-year hold

• IRR: -7.5%
• Equity multiple: 0.47×
• Total profit: $-53,390
• Equity at exit: $31,031

Cash invested: $100,492 (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 23323

• Home prices YoY: -21.8%
• Rents YoY: 6.1%
• Active inventory: 177
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,448 high
• Mortgage (P&I): −$1,882
• Tax from tax record: −$222 /mo · $2,663/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-320

Break-even live

Break-even rent $2,853

Max offer price $302,412

Occupancy floor —

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: $89,725
• Closing costs: $10,767
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
622 Wooddale Ct Chesapeake, VA	4.0	2.0	1475	$2,450	$1.66	23d	1	0.22mi
2509 Meiggs Rd Chesapeake, VA	3.0	2.0	1664	$2,500	$1.50	10d	1	0.45mi
2604 Townhouse Ln Chesapeake, VA	1.0–3.0	1.5	1050	$1,885	$1.80	2d	1	1.01mi
2270 Grace St Chesapeake, VA	3.0	2.0	1384	$2,400	$1.73	23d	1	1.15mi
2400 Broadnax Cir Chesapeake, VA	4.0	2.0	1800	$2,575	$1.43	21d	1	1.17mi
908 Lake Village Dr Chesapeake, VA	2.0–3.0	1.0	972	$1,508	$1.55	2d	7	1.35mi
102 Diamond Ave Unit B Chesapeake, VA	2.0	1.0	900	$1,350	$1.50	23d	1	1.36mi
3208 Sir Meliot Dr Chesapeake, VA	3.0	2.0	1400	$2,295	$1.64	23d	1	1.36mi
846 Drawbridge Dr Chesapeake, VA	3.0	2.0	1400	$2,600	$1.86	23d	1	1.40mi
2164 Shipyard Rd Chesapeake, VA	4.0	2.0	1459	$2,750	$1.88	7d	1	1.42mi

Listing history 4 events

1. 2026-05-06
   historical Active Under Contract
2. 2026-04-02
   listed $358,900 Active
3. 2026-01-23
   soldstatus $165,000
4. 2013-08-15
   soldstatus $138,500

ⓘ 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: $2,663 · $222/mo
• Projected year-2 tax: $2,943 · $245/mo
• Expected delta: +$280/yr (+$23/mo · 10.5%)

ⓘ 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 (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $29,375
• − Mortgage interest: −$20,104
• − Property taxes: −$2,663
• − Insurance: −$1,794
• − Repairs & maintenance: −$2,350
• − Management: −$2,350
• − Depreciation: −$10,441
• Taxable loss: −$10,328
• Est. tax savings @ 24.0%: +$2,479
• After-tax cash flow: $-1,359/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): 43,043
• Household income: $108,730
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 699.0

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 0.62)
• Race & ethnicity: White 54% Black 27% Two or more races 11% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%
• Foreign-born: 5% · Canada, South Korea, Jamaica
• Languages at home: 93% English-only · Spanish 4% Tagalog/Filipino 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: ▼ -86.09%
• Current HPI: 309.6925
• Rent YoY: ▲ 6.13%
• 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

+159.1% since first listed

4 events — show timeline

• 2026-05-06 Contingent — REINMLS
• 2026-04-02 Listed $358,900 REINMLS
• 2026-01-23 Sold (Public Records) $165,000 Public Records
• 2013-08-15 Sold (Public Records) $138,500 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,663 · +4.9% YoY. Source: county tax records.