537 W 27th St · Norfolk, VA 23517

$215,000

3 bd · 1.5 ba · 1,170 sqft · SingleFamily public records

Built 1919 Est $260k · 17% 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).

• ARV discount +15.0/15.0
• Cash flow +13.9/30.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

For sale by owner in Norfolk! This home has had some solid updates, including a newer roof (2025), updated appliances, a large 4-car driveway, and a fenced-in yard. There & acirc; & euro; & trade; s also a front porch that & acirc; & euro; & trade; s great for sitting outside and relaxing. Inside has a comfortable layout with good natural light and is easy to make your own, whether you & acirc; & euro; & trade; re looking for a primary home or an investment. Convenient location close to shops, restaurants, and main roads. No agent fees. Open to a quick, straightforward closing. Message me if you want more info or to come take a look!

Key facts

• Built 1919

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $25 ($305/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 $180k (16.4% below list).
• Recommended offer: $180k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Ghent K-8 (math 47% / reading 75%, grade B, #524 of 1,108 statewide, top 48%, 482 students, 97% FRL); Blair Middle (math 29% / reading 57%, grade D-, #288 of 342 statewide, top 85%, 1,149 students, 92% FRL); Matthew Fontaine Maury High (math 46% / reading 90%, grade B, #180 of 319 statewide, top 57%, 1,697 students, 96% FRL) — zoned schools average 95% FRL vs 59% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 57% at this address vs 42% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Norfolk City Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.4%/yr); 32 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($67k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $161k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — 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 $179,726 (16.4% below list)

Questions for the listing agent

1. Built in 1919 — 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: 0.84% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $259,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
537 W 27th St	0.00mi	3/1.5	1,170 (0%)	1mo	$215,000	$184	99
726 W 27th St	0.18mi	3/1.5	1,089 (-7%)	4mo	$305,000	$280	77
4400 Colonial Ave	0.70mi	3/1.5	1,184 (+1%)	2mo	$359,000	$303	64
824 W 41st St	0.63mi	3/1.0	1,206 (+3%)	1mo	$235,000	$195	63
609 Virginia Ave	0.57mi	3/1.5	1,216 (+4%)	8mo	$270,000	$222	61
237 W 27th St	0.31mi	3/2.0	1,300 (+11%)	7mo	$295,000	$227	59
839 W 42nd St	0.67mi	4/2.0 (+1)	1,188 (+2%)	1mo	$171,000	$144	58
868 W 36th St	0.48mi	3/1.5	1,300 (+11%)	2mo	$251,000	$193	58
715 Maryland Ave	0.66mi	3/2.0	1,276 (+9%)	2mo	$375,000	$294	50
1043 W 37th St	0.58mi	2/1.0 (-1)	1,049 (-10%)	6mo	$240,000	$229	43
835 W 42nd St	0.67mi	4/1.5 (+1)	1,300 (+11%)	2mo	$165,000	$127	43
1041 W 37th St	0.58mi	2/1.0 (-1)	1,014 (-13%)	4mo	$215,000	$212	41

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-32,449
• Equity at exit: $32,057

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-22,979
• Equity at exit: $18,589

Cash invested: $60,200 (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 23517

• Home prices YoY: -20.0%
• Rents YoY: 3.4%
• Active inventory: 32
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,797 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$177 /mo · $2,128/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $25

Break-even live

Break-even rent $1,765

Max offer price $215,000

Occupancy floor 94%

Sensitivity live

Price	-10% $147	-5% $86	+0% $25	+5% $-35	+10% $-96
Rent	-10% $-117	-5% $-46	+0% $25	+5% $96	+10% $167
Rate	-1.0pp $134	-0.5pp $80	base $25	+0.5pp $-30	+1.0pp $-87

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 W 27th St Unit F Norfolk, VA	3.0	2.0	1200	$1,600	$1.33	22d	1	0.13mi
417 W 27th St Unit F Norfolk, VA	3.0	2.0	1200	$1,600	$1.33	16d	1	0.13mi
601 W 24th St Norfolk, VA	1.0–2.0	1.0–2.0	722	$2,045	$2.83	3d	2	0.20mi
400 W 30th St Norfolk, VA	3.0	1.5	1120	$1,985	$1.77	45d	1	0.23mi
309 W 26th St Unit A Norfolk, VA	2.0	1.0	900	$1,525	$1.69	18d	1	0.24mi
325 W 31st St Unit 6 Norfolk, VA	3.0	1.0	1400	$1,750	$1.25	25d	1	0.27mi
415 W 32nd St Unit 1 Norfolk, VA	2.0	1.0	850	$1,325	$1.56	45d	1	0.27mi
812 W 27th St Unit 1 Norfolk, VA	2.0	1.0	750	$1,295	$1.73	9d	1	0.28mi
2202 Llewellyn Ave Norfolk, VA	2.0	2.0	980	$1,971	$2.01	9d	1	0.37mi
225 W 31st St Unit D Norfolk, VA	2.0	1.0	925	$975	$1.05	9d	1	0.37mi
3210 Llewellyn Ave Norfolk, VA	2.0	1.0	800	$975	$1.22	45d	1	0.39mi
3700 Gosnold Ave Unit A Norfolk, VA	2.0	1.0	700	$1,300	$1.86	25d	1	0.40mi
204 W 22nd St Norfolk, VA	1.0–2.0	1.0–2.0	907	$2,065	$2.28	4d	3	0.42mi
742 Washington Park Unit A5 Norfolk, VA	2.0	1.0	944	$1,450	$1.54	16d	1	0.43mi
742 Washington Park Unit A5 Norfolk, VA	2.0	1.0	994	$1,450	$1.46	18d	1	0.43mi
742 Washington Park Unit B4 Norfolk, VA	2.0	1.0	1054	$2,000	$1.90	14d	1	0.43mi
305 W 36th St Norfolk, VA	2.0	1.0	1271	$1,495	$1.18	5d	1	0.46mi
819 W 38th St Unit 5 Norfolk, VA	2.0	1.0	1000	$1,200	$1.20	21d	1	0.48mi
201 W 21st St Norfolk, VA	1.0–2.0	1.0–2.0	992	$2,199	$2.22	3d	5	0.48mi
1016 W 24th St Norfolk, VA	3.0	1.0–2.0	771	$1,655	$2.15	25d	20	0.48mi
810 Brandon Ave Norfolk, VA	3.0	1.0	1420	$2,350	$1.65	16d	1	0.49mi
201 W 34th St Unit 3 Norfolk, VA	2.0	1.0	750	$995	$1.33	45d	1	0.49mi
868 W 36th St Norfolk, VA	3.0	1.5	1300	$2,500	$1.92	14d	1	0.49mi
201 W 34th St Unit 7 Norfolk, VA	2.0	1.0	750	$1,099	$1.47	20d	1	0.49mi
628 Georgia Ave Norfolk, VA	3.0	2.0	1300	$2,495	$1.92	25d	1	0.50mi
832 Brandon Ave Unit A5 Norfolk, VA	2.0	1.0	875	$1,650	$1.89	25d	1	0.51mi
858 37th St Unit A Norfolk, VA	3.0	1.5	1150	$1,950	$1.70	18d	1	0.52mi
1512 Colonial Ave Unit B Norfolk, VA	2.0	1.0	1050	$1,575	$1.50	9d	1	0.53mi
435 Virginia Ave Norfolk, VA	2.0	2.0	1012	$1,954	$1.93	5d	1	0.56mi
731 Shirley Ave Unit 1 Norfolk, VA	3.0	1.0	1200	$1,950	$1.62	45d	1	0.57mi
829 Spotswood Ave Unit B Norfolk, VA	3.0	2.0	1250	$2,150	$1.72	16d	1	0.57mi
3601 Omohundro Ave Unit 3 Norfolk, VA	2.0	1.0	800	$1,395	$1.74	45d	1	0.57mi
1037 37th St Apt B Norfolk, VA	2.0	1.0	803	$1,100	$1.37	45d	1	0.58mi
4013 Colley Ave Norfolk, VA	4.0	2.0	1450	$2,600	$1.79	45d	1	0.60mi
1045 37th St Unit A Norfolk, VA	3.0	1.0	950	$1,600	$1.68	45d	1	0.61mi
527 Maryland Ave Norfolk, VA	3.0	1.0	1200	$2,000	$1.67	45d	1	0.61mi
1323 Colonial Ave #4 Norfolk, VA	2.0	1.0	786	$2,200	$2.80	12d	1	0.63mi
1009 Brandon Ave Unit 6 Norfolk, VA	2.0	1.0	1400	$1,500	$1.07	14d	1	0.67mi
1300 Stockley Gdns #206 Norfolk, VA	2.0	2.0	1000	$2,000	$2.00	12d	1	0.67mi
726 W Princess Anne Rd Unit 2 Norfolk, VA	3.0	2.0	1265	$1,695	$1.34	5d	1	0.70mi

Listing history 8 events

1. 2026-05-26
   listed $215,000
2. 2021-09-14
   soldstatus $160,550
3. 2021-08-03
   status Under Contract
4. 2021-07-22
   historical Active Under Contract
5. 2021-07-09
   price $159,000
6. 2021-06-09
   listed $165,000 Active
7. 2018-11-28
   status Under Contract
8. 2018-10-17
   listed $80,000 Active

ⓘ 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: $2,128 · $177/mo
• Projected year-2 tax: $2,128 · $177/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 4/10 Moderate FEMA zone X (unshaded) · 13% 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,567
• − Mortgage interest: −$12,043
• − Property taxes: −$2,128
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − Depreciation: −$6,255
• Taxable loss: −$3,384
• Est. tax savings @ 24.0%: +$812
• After-tax cash flow: $1,118/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): 4,932
• Household income: $67,375
• Rent vs Own: 68.1% rent · 31.9% own
• Severe rent burden: 463.0

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 0.56)
• Race & ethnicity: White 62% Black 21% Hispanic / Latino 9% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 4% Romanian 4% Portuguese 3%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 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: ▼ -68.26%
• Current HPI: 273.4702
• Rent YoY: ▲ 3.44%
• 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

+168.8% since first listed

8 events — show timeline

• 2026-05-26 Listed $215,000 FSBO.com
• 2021-09-14 Sold (Public Records) $160,550 Public Records
• 2021-08-03 Pending — REINMLS
• 2021-07-22 Contingent — REINMLS
• 2021-07-09 Price Changed $159,000 REINMLS
• 2021-06-09 Listed $165,000 REINMLS
• 2018-11-28 Pending — REINMLS
• 2018-10-17 Listed $80,000 REINMLS

Property tax history

+5.5%/yr

Latest (2025): $2,128 · +5.4% YoY. Source: county tax records.