600 Burksdale Rd · Norfolk, VA 23505

$150,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 1 Days on market

Built 1942 Est $182k · 18% 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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! Short sale being professionally negotiated by Paul Scarborough. House needs work, All things inside convey.

Key facts

• Built 1942

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.3% 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: Lindenwood Elementary (math 8% / reading 32%, grade F, #1,082 of 1,108 statewide, top 98%, 262 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 (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+12.1%/yr); 106 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).
• This rent runs 32% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~9 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 $20k; list at $150k implies a 669% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $150,000

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: 1.03% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $182,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 Burksdale Rd	0.00mi	3/1.0	960 (0%)	1mo	$152,000	$158	99
605 Carraway Ct	0.05mi	2/1.0 (-1)	960 (0%)	3mo	$220,500	$230	90
8268 Gygax Rd	0.44mi	2/1.0 (-1)	944 (-2%)	4mo	$150,150	$159	68
7948 Merritt St	0.61mi	3/1.0	1,002 (+4%)	4mo	$122,000	$122	61
8223 Mccloy Rd	0.24mi	2/1.0 (-1)	850 (-12%)	6mo	$153,000	$180	60
741 Bancker Rd	0.34mi	3/2.0	1,052 (+10%)	6mo	$310,000	$295	60
1112 Newell Ave	0.71mi	3/1.0	1,026 (+7%)	5mo	$195,000	$190	51
763 Norman Ave	0.44mi	3/2.0	1,100 (+15%)	4mo	$290,000	$264	48
928 Sheppard Ave	0.54mi	2/1.0 (-1)	837 (-13%)	3mo	$215,000	$257	46
403 Draper Dr	0.74mi	3/1.0	1,080 (+12%)	6mo	$160,000	$148	40
401 Biltmore Rd	0.75mi	2/1.0 (-1)	855 (-11%)	5mo	$151,000	$177	38
8443 Chesapeake Blvd	0.72mi	2/1.0 (-1)	823 (-14%)	4mo	$270,000	$328	34

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-269
• Equity at exit: $22,365

10-year hold

• IRR: 13.9%
• Equity multiple: 2.36×
• Total profit: $57,272
• Equity at exit: $12,969

Cash invested: $42,000 (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 23505

• Home prices YoY: -19.6%
• Rents YoY: 12.1%
• Active inventory: 106
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,543 high
• Mortgage (P&I): −$787
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $250

Break-even live

Break-even rent $1,226

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $335	-5% $292	+0% $250	+5% $207	+10% $165
Rent	-10% $128	-5% $189	+0% $250	+5% $311	+10% $372
Rate	-1.0pp $325	-0.5pp $288	base $250	+0.5pp $211	+1.0pp $171

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8231 Andrew Ln Norfolk, VA	3.0	1.0	720	$1,800	$2.50	24d	1	0.18mi
508 Ashlawn Dr Unit 2 Norfolk, VA	2.0	1.0	725	$1,250	$1.72	22d	1	0.29mi
7996 Diggs Rd Unit D Norfolk, VA	3.0	2.0	950	$1,375	$1.45	44d	1	0.30mi
504 Ashlawn Dr Unit 2 Norfolk, VA	2.0	1.0	725	$1,250	$1.72	24d	1	0.30mi
504 Ashlawn Dr Norfolk, VA	2.0	1.0	725	$1,250	$1.72	22d	1	0.30mi
507 Ashlawn Dr Norfolk, VA	2.0	1.0	750	$1,395	$1.86	44d	1	0.32mi
417 E Little Creek Rd Apt 4 Norfolk, VA	2.0	1.0	700	$1,050	$1.50	8d	1	0.42mi
7922 Old Ocean View Rd Norfolk, VA	1.0–3.0	1.0–1.5	890	$1,300	$1.46	2d	3	0.43mi
440 San Antonio Blvd Norfolk, VA	2.0	1.0	800	$1,535	$1.92	24d	1	0.52mi
869 Bancker Rd Norfolk, VA	2.0	1.0–1.5	910	$1,142	$1.26	44d	1	0.54mi
312 Ashlawn Dr Norfolk, VA	2.0	1.0	720	$1,200	$1.67	44d	1	0.56mi
311 Ashlawn Dr Unit 3 Norfolk, VA	2.0	1.0	800	$1,195	$1.49	45d	1	0.56mi
845 Norman Ave Norfolk, VA	2.0	1.0	862	$2,000	$2.32	24d	1	0.60mi
351 San Antonio Blvd Unit 8 Norfolk, VA	2.0	1.0	675	$1,250	$1.85	13d	1	0.68mi
7474 Pennington Rd Unit 7474 Norfolk, VA	2.0	1.0	1000	$1,525	$1.52	2d	1	0.71mi
7465 Fenner St Unit 7468-2-A8 Norfolk, VA	2.0	1.0	900	$1,399	$1.55	20d	1	0.78mi
310 Naval Base Rd Norfolk, VA	3.0	1.0	1000	$1,850	$1.85	24d	1	0.81mi
7433 Fenner St Norfolk, VA	1.0–2.0	1.0	715	$1,399	$1.96	15d	7	0.86mi
7427 Tyndale Ct Unit 1 Norfolk, VA	2.0	1.0	786	$995	$1.27	44d	1	0.90mi
715 Easy St Unit 2 Norfolk, VA	2.0	1.0	750	$1,200	$1.60	15d	1	0.90mi
719 E Bayview Blvd Norfolk, VA	2.0	1.0	850	$1,537	$1.81	4d	2	0.95mi
7128 Gregory Dr Norfolk, VA	2.0	1.0	720	$1,800	$2.50	44d	1	1.09mi
1030 Creamer Rd Norfolk, VA	2.0	1.0	928	$1,600	$1.72	2d	1	1.13mi
7108 Gregory Dr Norfolk, VA	2.0	1.0	720	$1,400	$1.94	44d	1	1.15mi
837 Tifton St Norfolk, VA	3.0	2.0	1072	$2,300	$2.15	24d	1	1.20mi
423 E Ocean Ave Apt 15 Norfolk, VA	2.0	1.0	700	$1,359	$1.94	44d	1	1.28mi
8968 Tidewater Dr Unit B Norfolk, VA	2.0	1.0	769	$1,475	$1.92	17d	1	1.31mi
600 Warwick Ave Norfolk, VA	1.0–2.0	1.0	771	$1,280	$1.66	16d	4	1.34mi
307 W Little Creek Rd Unit C Norfolk, VA	2.0	1.0	830	$1,395	$1.68	11d	1	1.35mi
649 E Leicester Ave Norfolk, VA	2.0	1.0	700	$1,399	$2.00	4d	1	1.39mi
9103 Hammett Ave Unit B Norfolk, VA	2.0	1.0	894	$1,350	$1.51	2d	1	1.40mi
8923 Brighton St Norfolk, VA	2.0	1.0	800	$1,345	$1.68	44d	1	1.43mi
9117 Chesapeake Blvd Unit 4 Norfolk, VA	2.0	1.0	768	$1,125	$1.46	24d	1	1.48mi

Listing history 3 events

1. 2026-02-02
   status Under Contract
2. 2026-02-01
   listed $150,000 Active
3. 1976-02-09
   soldstatus $19,500

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $1,438 · $120/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 ≥104°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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,510
• − Mortgage interest: −$8,402
• − Property taxes: −$1,438
• − Insurance: −$750
• − Repairs & maintenance: −$1,481
• − Management: −$1,481
• − Depreciation: −$4,364
• Taxable income: $595
• Est. tax owed @ 24.0%: −$143
• After-tax cash flow: $2,854/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): 28,247
• Household income: $58,579
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2299.0

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: White 44% Black 34% Hispanic / Latino 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 9% · Canada, United Kingdom, South Korea
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 1% 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: ▼ -71.86%
• Current HPI: 294.9807
• Rent YoY: ▲ 12.08%
• 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

+669.2% since first listed

3 events — show timeline

• 2026-02-02 Pending — REINMLS
• 2026-02-01 Listed $150,000 REINMLS
• 1976-02-09 Sold (Public Records) $19,500 Public Records

Property tax history

+1.4%/yr

Latest (2018): $1,438 · +1.5% YoY. Source: county tax records.