5421 Berry Hill Rd · Norfolk, VA 23502

$295,900

4 bd · 3.0 ba · 2,495 sqft · SingleFamily public records · 47 Days on market

Built 1959 7,405 sqft lot $119/sqft · 21% below area Est $373k · 21% 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 +15.3/30.0
• ARV discount +15.0/15.0
• Rent growth +5.0/5.0
• DSCR +4.7/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 5421 Berry Hill Rd, a spacious 4-bedroom, 3-bath brick home offering approximately 2,495 square feet on a 7,287 SF lot in Poplar Hall. Built in 1959 with a dynamic tri-level layout, this property provides a strong footprint. Located in a well-established Norfolk neighborhood with convenient access to Military Circle, shopping, dining, and major commuter routes, the location supports strong resale or rental potential. Property features include multiple living areas, a patio, and classic brick construction. Great for investors, renovators, or buyers seeking a full renovation project with upside potential. Bring your vision and transform this property into its next chapte

Key facts

• Tri-level layout
• Brick home
• Patio

Tags

• BRICK HOME
• TRI-LEVEL LAYOUT
• MULTIPLE LIVING AREAS
• PATIO
• CLASSIC BRICK CONSTRUCTION
• WELL-ESTABLISHED NEIGHBORHOOD

Property features AI

Finance

• HOA & community: No HOA fees listed

Exterior

• Parking: Driveway space for 1 vehicle
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Detached single-family home; Tri-level style; 3 living levels; 2.5 stories; Simple ownership
• Construction: Asphalt shingle roof; Crawl and slab foundation
• Exterior features: Brick and shingle siding; Chain link fence; City view; Porch

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: One bedroom with ensuite; Master bedroom with bath; Office/Study (used as a room); Spare room; Converted garage
• Flooring: Carpet; Ceramic; Wood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Scuttle access
• Laundry & utility: Washer hookup; Dryer hookup; 220V electrical hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $296k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $267k (9.9% below list).
• Recommended offer: $267k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Sewells Point Elementary (math 42% / reading 67%, grade C, #650 of 1,108 statewide, top 62%, 551 students, 96% FRL); Booker T Washington High (math 26% / reading 70%, grade D, #303 of 319 statewide, top 95%, 947 students, 94% FRL) — zoned schools average 95% FRL vs 59% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+15.1%/yr); 78 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $2,666/mo this rent would consume 51% of the median local household income ($63k/yr) (locally 1255% 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 $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($287k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $98k; list at $296k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $266,551 (9.9% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — 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. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.55%
• DSCR: 1.07
• GRM: 9.3

CMA / ARV

• ARV (median comp): $373,365
• List price: $295,900
• Delta: -20.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5505 Bayberry Dr	0.10mi	4/2.5	2,223 (-11%)	11mo	$367,000	$165	66
5516 Poplar Hall Dr	0.20mi	4/3.0	2,226 (-11%)	13mo	$385,000	$173	62
554 Stuart Cir	0.32mi	4/2.5	2,667 (+7%)	12mo	$400,000	$150	62
5235 Doswell St	0.36mi	4/2.5	2,200 (-12%)	3mo	$469,000	$213	59
809 Fontaine Ave	0.65mi	4/3.0	2,703 (+8%)	5mo	$340,000	$126	51
5813 Bartee St	0.71mi	4/2.5	2,235 (-10%)	13mo	$440,000	$197	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.67×
• Total profit: $-27,039
• Equity at exit: $44,120

10-year hold

• IRR: 6.5%
• Equity multiple: 1.60×
• Total profit: $49,387
• Equity at exit: $25,584

Cash invested: $82,852 (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 23502

• Home prices YoY: -20.7%
• Rents YoY: 15.1%
• Active inventory: 78
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,666 medium
• Mortgage (P&I): −$1,552
• Tax from tax record: −$324 /mo · $3,886/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $107

Break-even live

Break-even rent $2,530

Max offer price $295,900

Occupancy floor 91%

Sensitivity live

Price	-10% $274	-5% $191	+0% $107	+5% $23	+10% $-61
Rent	-10% $-104	-5% $2	+0% $107	+5% $212	+10% $318
Rate	-1.0pp $256	-0.5pp $182	base $107	+0.5pp $30	+1.0pp $-48

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: $73,975
• Closing costs: $8,877
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 Honaker Ave Norfolk, VA	3.0	2.0	2000	$2,600	$1.30	12d	1	0.91mi
5931 Sellger Dr Norfolk, VA	3.0	2.0	1650	$2,550	$1.55	44d	1	1.21mi
1320 Gabriel Dr Norfolk, VA	4.0	1.5	1812	$2,495	$1.38	44d	1	1.28mi

Listing history 15 events

1. 2026-06-21
   days on market $295,900 Active 47 DOM
2. 2026-06-18
   days on market $295,900 Active 44 DOM
3. 2026-06-17
   days on market $295,900 Active 43 DOM
4. 2026-06-16
   days on market $295,900 Active 42 DOM
5. 2026-06-15
   days on market $295,900 Active 41 DOM
6. 2026-06-13
   days on market $295,900 Active 39 DOM
7. 2026-06-09
   days on market $295,900 Active 35 DOM
8. 2026-06-08
   days on market $295,900 Active 34 DOM
9. 2026-06-07
   days on market $295,900 Active 33 DOM
10. 2026-06-03
    days on market $295,900 Active 29 DOM
11. 2026-06-02
    days on market $295,900 Active 28 DOM
12. 2026-06-01
    days on market $295,900 Active 27 DOM
13. 2026-05-31
    days on market $295,900 Active 26 DOM
14. 2026-05-05
    listed $295,900 Active 837-char remark
15. 1990-07-18
    soldstatus $98,000

ⓘ 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: $3,886 · $324/mo
• Projected year-2 tax: $3,886 · $324/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,986
• − Mortgage interest: −$16,575
• − Property taxes: −$3,886
• − Insurance: −$1,480
• − Repairs & maintenance: −$2,559
• − Management: −$2,559
• − Depreciation: −$8,608
• Taxable loss: −$3,680
• Est. tax savings @ 24.0%: +$883
• After-tax cash flow: $2,166/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): 20,399
• Household income: $63,208
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1255.0

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 0.67)
• Race & ethnicity: Black 46% White 31% Hispanic / Latino 12% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 2%
• Common ancestry: Portuguese 1% Romanian 1% Slovak 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 6% Tagalog/Filipino 3% Other Indo-European 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: ▼ -83.50%
• Current HPI: 320.4522
• Rent YoY: ▲ 15.10%
• 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

+201.9% since first listed

2 events — show timeline

• 2026-05-05 Listed $295,900 REINMLS
• 1990-07-18 Sold (Public Records) $98,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $3,886 · +12.1% YoY. Source: county tax records.