6528 Pasteur Ct · Norfolk, VA 23513

$125,000

3 bd · 1.0 ba · 894 sqft · Townhouse public records · 1 Days on market

Built 1974 Est $130k · at est. $88/mo HOA · 6% of rent

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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 +25.9/30.0
• ARV discount +9.1/15.0
• DSCR +8.7/10.0
• 1% rule +7.2/10.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is an as-is home located in a cul-de-sac in the heart of Norfolk. This lovingly maintain residence is being offered for the very first time by its original owner, a rare and meaningful opportunity for its next chapter. From the moment you arrive, you'll feel the warmth and pride of ownership that has defined this home for years. Thoughtfully cared for and filled with character, this property offers a solid foundation for anyone looking to create their own vision, whether you're stepping into homeownership for the first time or expanding your investment portfolio. Inside, you'll find a layout designed for everyday living, with inviting spaces that flow naturally from room to room. Natur

Key facts

• Solid foundation
• Natural light
• Cul-de-sac

Tags

• CUL-DE-SAC
• SOLID FOUNDATION
• NATURAL LIGHT
• PEACEFUL SURROUNDINGS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 9.2% 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: Tanners Creek Elementary (math 15% / reading 38%, grade F, #1,041 of 1,108 statewide, top 94%, 530 students, 98% FRL); Norview High (math 33% / reading 85%, grade C+, #256 of 319 statewide, top 81%, 1,915 students, 97% FRL) — zoned schools average 97% FRL vs 59% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 132 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $32k; list at $125k implies a 291% 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 $125,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.22% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.52%
• DSCR: 1.47
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $129,630
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6528 Pasteur Ct	0.00mi	2/1.0 (-1)	894 (0%)	1mo	$130,000	$145	94
1221 Curie Ct	0.14mi	2/1.0 (-1)	962 (+8%)	5mo	$60,000	$62	72

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: -0.0%
• Equity multiple: 1.00×
• Total profit: $-28
• Equity at exit: $18,638

10-year hold

• IRR: 10.1%
• Equity multiple: 1.80×
• Total profit: $27,994
• Equity at exit: $10,808

Cash invested: $35,000 (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: 132
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,527 high
• Mortgage (P&I): −$656
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$52
• HOA: −$88
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $307

Break-even live

Break-even rent $1,139

Max offer price $125,000

Occupancy floor 75%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6343 Chesapeake Blvd Apt communities Norfolk, VA	2.0	1.0	750	$1,099	$1.47	21d	1	0.26mi
6340 Sewells Point Rd Apt communities Norfolk, VA	2.0	1.0	750	$1,099	$1.47	21d	1	0.27mi
6234 Chesapeake Blvd Norfolk, VA	2.0	1.0	986	$925	$0.94	17d	1	0.40mi
6249 Alexander St Unit F Norfolk, VA	2.0	1.0	817	$1,195	$1.46	4d	1	0.40mi
6249 Alexander St Unit C Norfolk, VA	2.0	1.0	817	$1,195	$1.46	23d	1	0.40mi
6249 Alexander St Unit C Norfolk, VA	2.0	1.0	817	$1,195	$1.46	17d	1	0.40mi
6228 Chesapeake Blvd Unit G Norfolk, VA	2.0	1.0	885	$925	$1.05	43d	1	0.42mi
6241 Alexander St Unit F Norfolk, VA	2.0	1.0	704	$895	$1.27	12d	1	0.42mi
6225 Alexander St Unit F Norfolk, VA	2.0	1.0	750	$1,499	$2.00	20d	1	0.45mi
6225 Alexander St Norfolk, VA	2.0	1.0	750	$1,299	$1.73	43d	1	0.45mi
6450 Crescent Way Norfolk, VA	1.0–3.0	1.0–2.0	1128	$2,369	$2.10	2d	23	0.50mi
1232 Norview Ave Unit NOR1232R-EA Norfolk, VA	3.0	2.0	1106	$1,600	$1.45	43d	1	0.56mi
7108 Gregory Dr Norfolk, VA	2.0	1.0	720	$1,400	$1.94	43d	1	0.73mi
3820 Essex Cir #1 Norfolk, VA	2.0	1.0	1000	$2,250	$2.25	17d	1	0.75mi
3820 Essex Cir Unit B 1 Norfolk, VA	2.0	1.0	900	$1,700	$1.89	21d	1	0.75mi
3820 Essex Cir Unit A Norfolk, VA	2.0	1.0	1000	$2,200	$2.20	21d	1	0.75mi
7128 Gregory Dr Norfolk, VA	2.0	1.0	720	$1,800	$2.50	43d	1	0.79mi
4802 Norvella Ave Unit 1 Norfolk, VA	2.0	1.0	800	$1,050	$1.31	7d	1	0.84mi
837 Tifton St Norfolk, VA	3.0	2.0	1072	$2,300	$2.15	23d	1	0.95mi
4566 Hampshire Ave Unit A Norfolk, VA	2.0	1.0	870	$1,350	$1.55	43d	1	1.00mi
3872 Wake Cir Unit A Norfolk, VA	2.0	1.0	750	$1,395	$1.86	3d	1	1.02mi
3872 Wake Cir Unit A Norfolk, VA	2.0	1.0	750	$1,395	$1.86	43d	1	1.02mi
3801 Chatham Cir Unit 2 Norfolk, VA	2.0	1.0	1100	$1,350	$1.23	7d	1	1.06mi
7427 Tyndale Ct Unit 1 Norfolk, VA	2.0	1.0	786	$995	$1.27	43d	1	1.17mi
739 Waukesha Ave Norfolk, VA	2.0	1.0	860	$1,800	$2.09	23d	1	1.20mi
715 Easy St Unit 2 Norfolk, VA	2.0	1.0	750	$1,200	$1.60	14d	1	1.22mi
7433 Fenner St Norfolk, VA	1.0–2.0	1.0	715	$1,399	$1.96	14d	7	1.23mi
7465 Fenner St Unit 7468-2-A8 Norfolk, VA	2.0	1.0	900	$1,399	$1.55	20d	1	1.25mi
6115 Tidewater Dr Norfolk, VA	1.0–2.0	1.0–2.0	956	$2,274	$2.38	2d	8	1.27mi
5404 Douglas St Norfolk, VA	3.0	1.0	981	$1,950	$1.99	43d	1	1.33mi
609 Summers Dr Norfolk, VA	3.0	1.0	998	$1,995	$2.00	4d	1	1.35mi
869 Bancker Rd Norfolk, VA	2.0	1.0–1.5	910	$1,142	$1.26	43d	1	1.36mi
3044 Sewells Point Rd Norfolk, VA	2.0	1.0	830	$1,134	$1.37	1d	1	1.37mi
7474 Pennington Rd Unit 7474 Norfolk, VA	2.0	1.0	1000	$1,525	$1.52	2d	1	1.43mi
3326 Sandy St Norfolk, VA	3.0	1.0	1040	$1,695	$1.63	3d	1	1.44mi
7922 Old Ocean View Rd Norfolk, VA	1.0–3.0	1.0–1.5	890	$1,300	$1.46	1d	3	1.44mi
2707 Azalea Garden Rd Apt B3 Norfolk, VA	2.0	1.0	680	$1,195	$1.76	23d	1	1.46mi

HOA detail

• Monthly dues: $88 · $1,056/yr

Listing history 4 events

1. 2026-04-26
   status Under Contract
2. 2026-04-24
   listed $125,000 Active
3. 1997-11-05
   soldstatus $32,000
4. 1984-10-02
   soldstatus $21,400

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $1,250 · $104/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: $18,326
• − Mortgage interest: −$7,002
• − Property taxes: −$1,250
• − Insurance: −$625
• − Repairs & maintenance: −$1,466
• − Management: −$1,466
• − HOA: −$1,056
• − Depreciation: −$3,636
• Taxable income: $1,825
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $3,243/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

+484.1% since first listed

4 events — show timeline

• 2026-04-26 Pending — REINMLS
• 2026-04-24 Listed $125,000 REINMLS
• 1997-11-05 Sold (Public Records) $32,000 Public Records
• 1984-10-02 Sold (Public Records) $21,400 Public Records

Property tax history

+4.0%/yr

Latest (2024): $1,250 · +11.5% YoY. Source: county tax records.