1918 Norway St · Bristol, VA 24201

$139,900

3 bd · 1.5 ba · 1,596 sqft · SingleFamily public records · 15 Days on market

Built 1942 5,227 sqft lot Est $204k · 32% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy home is located in downtown Bristol, VA. The home offers 3 bedrooms, 1.5 baths; through out the home you will find hardwood floors and an abudance of storage space. Home also offers more living space in the basement and more storage. This would make a great family home. Cute as can be.

Key facts

• Large back deck
• Downstairs den
• Updated kitchen

Tags

• HARDWOOD FLOORS
• UPDATED KITCHEN
• TWO FIREPLACES
• DOWNSTAIRS DEN
• LARGE BACK DECK

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one half stories; Residential property (R1 zoning)
• Construction: Frame construction with vinyl siding; Shingle roof
• Exterior features: Deck; Wooded lot

Interior

• Kitchen: Refrigerator
• Flooring: Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Refrigerator included; Wood flooring; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 4.9% in Bristol — 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 74/100 on livability (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bristol City Public School District (urban): math 57% / reading 70% proficiency, ranked #53 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Stonewall Jackson Elementary (math 47% / reading 67%, grade C+, #597 of 1,108 statewide, top 57%, 254 students, 102% FRL); Virginia Middle (math 56% / reading 71%, grade B+, #128 of 342 statewide, top 39%, 487 students, 101% FRL); Virginia High (math 62% / reading 77%, grade B, #159 of 319 statewide, top 53%, 637 students, 100% FRL) — zoned schools average 101% FRL vs 58% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 157 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 15 units permitted in Bristol city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bristol County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago 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 $94k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
5. 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.
6. 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.
7. 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: 1.32% ✓
• Cap rate: 11.59%
• Cash-on-cash: 18.91%
• DSCR: 1.84
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $204,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
420 Douglas St	0.34mi	3/1.0	1,588 (-0%)	8mo	$227,000	$143	75
1712 Broad St	0.29mi	3/2.0	1,612 (+1%)	10mo	$85,000	$53	75
1600 Norway St	0.22mi	3/1.5	1,478 (-7%)	14mo	$186,500	$126	66
664 Page St	0.49mi	3/1.0	1,446 (-9%)	0mo	$168,500	$117	59
1836 Anderson St	0.39mi	3/2.0	1,425 (-11%)	4mo	$235,000	$165	58
2549 Bay St	0.68mi	3/2.0	1,700 (+6%)	1mo	$290,000	$171	54
461 Douglas St	0.37mi	4/2.0 (+1)	1,418 (-11%)	5mo	$193,500	$136	53
1116 Shelby St	0.59mi	3/1.5	1,490 (-7%)	10mo	$70,000	$47	53
1133 Hill St	0.67mi	4/2.0 (+1)	1,582 (-1%)	10mo	$191,500	$121	52
1149 Moorland Ave	0.16mi	4/2.5 (+1)	1,833 (+15%)	10mo	$165,000	$90	50
1412 Anderson St	0.41mi	2/2.0 (-1)	1,382 (-13%)	2mo	$235,000	$170	49
2021 Windsor Ave	0.54mi	2/2.0 (-1)	1,372 (-14%)	11mo	$175,000	$128	35

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: 10.7%
• Equity multiple: 1.42×
• Total profit: $16,593
• Equity at exit: $20,860

10-year hold

• IRR: 19.8%
• Equity multiple: 2.66×
• Total profit: $64,877
• Equity at exit: $12,096

Cash invested: $39,172 (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 24201

• Active inventory: 157
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,851 high
• Mortgage (P&I): −$734
• Tax from tax record: −$53 /mo · $641/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $617

Break-even live

Break-even rent $1,070

Max offer price $139,900

Occupancy floor 62%

Sensitivity live

Price	-10% $696	-5% $657	+0% $617	+5% $578	+10% $538
Rent	-10% $471	-5% $544	+0% $617	+5% $690	+10% $763
Rate	-1.0pp $688	-0.5pp $653	base $617	+0.5pp $581	+1.0pp $544

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1405 Newton St Bristol, VA	3.0	1.0	1200	$1,600	$1.33	15d	1	0.32mi
1216 Norway St Unit 102 Bristol, VA	2.0	1.0	1215	$1,600	$1.32	15d	1	0.44mi
1216 Norway St Unit 101 Bristol, VA	4.0	2.0	1615	$2,100	$1.30	15d	1	0.44mi
1718 Clifton Rd Bristol, TN	3.0	1.5	1672	$1,900	$1.14	45d	1	0.51mi
145 Midway St Unit 1397968P Bristol, VA	3.0	2.0	1388	$5,335	$3.84	22d	1	0.53mi
2510 Catherine St Bristol, VA	3.0	2.0	1418	$2,500	$1.76	15d	1	0.58mi
203 Opal Ln Unit 4 Bristol, VA	2.0	1.5	1200	$1,500	$1.25	22d	1	0.71mi
1156 Bristol View Dr Bristol, VA	2.0	2.5	1152	$1,650	$1.43	15d	2	0.76mi
712 Haynes St Bristol, TN	3.0	2.0	2228	$2,100	$0.94	15d	1	1.20mi
2931 Broad St #124 Bristol, TN	3.0	2.5	1248	$1,500	$1.20	22d	1	1.35mi

Listing history 11 events

1. 2026-06-18
   days on market $139,900 Active 15 DOM
2. 2026-06-17
   days on market $139,900 Active 14 DOM
3. 2026-06-16
   days on market $139,900 Active 13 DOM
4. 2026-06-15
   days on market $139,900 Active 12 DOM
5. 2026-06-14
   days on market $139,900 Active 10 DOM
6. 2026-06-13
   days on market $139,900 Active 9 DOM
7. 2026-06-10
   days on market $139,900 Active 7 DOM
8. 2026-06-09
   days on market $139,900 Active 6 DOM
9. 2026-06-08
   days on market $139,900 Active 5 DOM
10. 2026-06-07
    remarks 544-char remark
11. 2026-06-07
    listed $139,900 Active 4 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: $641 · $53/mo
• Projected year-2 tax: $1,147 · $96/mo
• Expected delta: +$506/yr (+$42/mo · 78.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥98°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,216
• − Mortgage interest: −$7,837
• − Property taxes: −$641
• − Insurance: −$700
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$4,070
• Taxable income: $5,415
• Est. tax owed @ 24.0%: −$1,300
• After-tax cash flow: $6,107/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: Bristol City Public School District
• NCES district ID: 5100450
• Math proficiency: 57% ▼ -24.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $33,978
• Composite: 52.4/100
• National rank: #1579
• State rank: #53 of 131 in VA

Livability — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

Amenities C+ Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, VA
• City population: 16,039
• Population (ZIP): 16,039

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 16,113 people
• By 2030: 15,510 · -3.7%
• By 2040: 14,121 · -12.4%
• By 2050: 12,847 · -20.3%
• By 2075: 9,870 · -38.7%
• By 2100: 7,883 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Serbian 1% Iranian 0%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Bristol

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -13.6pp toward R · 2008: -26.0pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+38.9 2016: R+43.8 2012: R+31.1 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.40%
• Current HPI: 196.2099
• Rent YoY: —
• Metro: —
• 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

+49.6% since first listed

9 events — show timeline

• 2026-06-02 Listed $139,900 SWVAR
• 2019-11-12 Sold (Public Records) $94,000 Public Records
• 2019-11-12 Sold (MLS) $94,000 TVRMLS
• 2019-11-12 Sold (MLS) $94,000 SWVAR
• 2019-09-23 Listed $94,985 TVRMLS
• 2019-09-03 Listed $94,985 SWVAR
• 2015-05-04 Sold (Public Records) $88,000 Public Records
• 2015-05-01 Sold (MLS) $88,000 TVRMLS
• 2015-03-02 Listed $93,500 TVRMLS