1010 Bowden Ave · Chesapeake, VA 23323

$260,000

3 bd · 1.0 ba · 1,061 sqft · SingleFamily public records · 22 Days on market

Built 1953 Est $272k · at est.

---

Why this score? — see what drove the D+ 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 +14.1/30.0
• ARV discount +9.4/15.0
• Schools +5.8/10.0
• DSCR +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Built 1953
• Listed 22 days

Property features AI

Finance

• HOA & community: No HOA fees reported

Exterior

• Parking: Off-street parking; Driveway parking spaces
• Utilities: City/County water; City/County sewer; Gas water heater; Electric power (standard)
• Home design: Detached ranch-style home; Single-story (1 story); Slab foundation; Simple ownership
• Construction: Vinyl exterior; Asphalt shingle roof; Slab foundation
• Exterior features: Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Microwave; Gas range
• Bedrooms: At least one bedroom located on the first floor
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Carpet and laminate flooring; Bedroom and full bathroom on the first floor; 6 total rooms
• Laundry & utility: Washer hookup; Dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $38 ($459/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 $214k (17.6% below list).
• Recommended offer: $214k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: G.A. Treakle Elementary (math 47% / reading 56%, grade C-, #728 of 1,108 statewide, top 66%, 421 students, 93% FRL); Deep Creek Middle (math 30% / reading 64%, grade D+, #257 of 342 statewide, top 77%, 770 students, 43% FRL); Deep Creek High (math 70% / reading 82%, grade A-, #102 of 319 statewide, top 32%, 1,597 students, 49% FRL) — zoned schools average 62% FRL vs 28% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 184 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $8k 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 22 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $172k; list at $260k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $214,212 (17.6% below list)

Questions for the listing agent

1. Built in 1953 — 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. 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?
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: 0.82% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $271,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1010 Bowden Ave	0.00mi	3/1.0	1,061 (0%)	1mo	$260,000	$245	99
2309 Gilmerton Rd	0.20mi	3/1.0	1,090 (+3%)	12mo	$250,000	$229	76
2404 Livesay Rd	0.12mi	4/1.0 (+1)	1,145 (+8%)	5mo	$262,000	$229	72
2501 Lofurno Rd	0.31mi	3/1.0	1,112 (+5%)	12mo	$265,000	$238	68
2213 Tennessee Dr	0.51mi	3/1.0	1,016 (-4%)	2mo	$260,000	$256	67
1040 George Washington Hwy	0.37mi	3/1.0	1,116 (+5%)	8mo	$272,000	$244	67
2060 Maywood St	0.44mi	2/1.0 (-1)	1,019 (-4%)	7mo	$285,000	$280	62
2507 Sunset Dr	0.31mi	3/1.0	925 (-13%)	3mo	$245,000	$265	62
1006 White Pine Dr	0.50mi	3/1.0	1,002 (-6%)	10mo	$249,900	$249	59
923 Oklahoma Dr	0.29mi	3/2.0	1,176 (+11%)	12mo	$305,000	$259	55
902 Bounds Ave	0.45mi	3/1.0	925 (-13%)	4mo	$267,900	$290	54
933 Michael Dr	0.67mi	3/2.0	996 (-6%)	1mo	$265,000	$266	54

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: -12.1%
• Equity multiple: 0.55×
• Total profit: $-32,793
• Equity at exit: $38,767

10-year hold

• IRR: 0.8%
• Equity multiple: 1.07×
• Total profit: $4,804
• Equity at exit: $22,480

Cash invested: $72,800 (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: 184
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,142 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$182 /mo · $2,187/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $38

Break-even live

Break-even rent $2,094

Max offer price $260,000

Occupancy floor 93%

Sensitivity live

Price	-10% $185	-5% $112	+0% $38	+5% $-35	+10% $-109
Rent	-10% $-131	-5% $-46	+0% $38	+5% $123	+10% $207
Rate	-1.0pp $169	-0.5pp $104	base $38	+0.5pp $-29	+1.0pp $-98

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
908 Lake Village Dr Chesapeake, VA	2.0–3.0	1.0	972	$1,508	$1.55	4d	7	0.17mi
2604 Townhouse Ln Chesapeake, VA	1.0–3.0	1.5	1050	$1,885	$1.80	4d	1	0.52mi
1114 Woodland Terrace Dr Chesapeake, VA	3.0	1.0	1223	$2,000	$1.64	25d	1	0.57mi
940 Willis St Chesapeake, VA	3.0	2.0	1150	$1,795	$1.56	18d	1	0.99mi
846 Drawbridge Dr Chesapeake, VA	3.0	2.0	1400	$2,600	$1.86	25d	1	1.13mi
622 Wooddale Ct Chesapeake, VA	4.0	2.0	1475	$2,450	$1.66	25d	1	1.14mi
1724 Shell Rd Chesapeake, VA	3.0	2.0	1000	$1,800	$1.80	25d	1	1.27mi
3208 Sir Meliot Dr Chesapeake, VA	3.0	2.0	1400	$2,295	$1.64	25d	1	1.28mi

Listing history 5 events

1. 2026-05-14
   status Under Contract
2. 2026-04-22
   historical Active Under Contract
3. 2026-04-21
   listed $260,000 Active
4. 2006-11-02
   soldstatus $172,000
5. 1996-09-30
   soldstatus $68,500

ⓘ 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: $2,187 · $182/mo
• Projected year-2 tax: $2,187 · $182/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 2/10 Low FEMA zone X (unshaded) · 3% 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 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,705
• − Mortgage interest: −$14,564
• − Property taxes: −$2,187
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,056
• − Management: −$2,056
• − Depreciation: −$7,564
• Taxable loss: −$4,022
• Est. tax savings @ 24.0%: +$965
• After-tax cash flow: $1,424/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

+279.6% since first listed

5 events — show timeline

• 2026-05-14 Pending — REINMLS
• 2026-04-22 Contingent — REINMLS
• 2026-04-21 Listed $260,000 REINMLS
• 2006-11-02 Sold (Public Records) $172,000 Public Records
• 1996-09-30 Sold (Public Records) $68,500 Public Records

Property tax history

+3.7%/yr

Latest (2025): $2,187 · +4.4% YoY. Source: county tax records.