857 B Ave · Norfolk, VA 23504

$140,000

3 bd · 1.5 ba · 1,160 sqft · SingleFamily public records · 114 Days on market

Built 1988 $121/sqft · 45% below area Est $257k · 45% 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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NO SHOWING, FIXER UPPER, COMPLETE RENOVATION NEEDED MUST SIGN A HOLD HARMLESS DOCUMENT TO VIEW INVESTORS ONLY

Key facts

• Built 1988
• Listed 114 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• 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.
• Market conditions: Rents rising fast (+6.1%/yr); 120 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).
• This rent runs 41% of the median local income ($45k/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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $65k; list at $140k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $127,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.09% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $256,562
• List price: $140,000
• Delta: -45.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2320 Ruffin St	0.26mi	3/1.0	1,092 (-6%)	5mo	$264,900	$243	72
820 Summit Ave	0.39mi	3/1.5	1,234 (+6%)	1mo	$265,000	$215	70
1416 Bolton St	0.42mi	3/1.5	1,224 (+6%)	2mo	$140,000	$114	70
1111 Rugby St	0.41mi	3/1.0	1,064 (-8%)	2mo	$269,000	$253	64
1050 Vista St	0.47mi	2/1.5 (-1)	1,212 (+4%)	3mo	$260,000	$215	63
813 Summit Ave	0.37mi	3/2.0	1,282 (+10%)	1mo	$219,000	$171	62
1014 Goff St	0.47mi	3/1.0	1,264 (+9%)	3mo	$198,000	$157	59
2591 Waverly Way	0.47mi	3/1.5	1,298 (+12%)	2mo	$276,000	$213	56
2829 Villa Cir	0.67mi	3/2.0	1,300 (+12%)	0mo	$205,000	$158	46
1750 Hancock Ave	0.61mi	3/2.0	1,334 (+15%)	1mo	$360,000	$270	44
2917 Leo St	0.64mi	2/1.0 (-1)	1,046 (-10%)	6mo	$120,000	$115	42
1350 Marshall Ave	0.74mi	3/2.5	1,320 (+14%)	2mo	$140,000	$106	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 · 6.12% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-2,926
• Equity at exit: $20,874

10-year hold

• IRR: 10.9%
• Equity multiple: 1.97×
• Total profit: $38,155
• Equity at exit: $12,105

Cash invested: $39,200 (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 23504

• Home prices YoY: -6.2%
• Rents YoY: 6.1%
• Active inventory: 120
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$734
• Tax from tax record: −$176 /mo · $2,109/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $233

Break-even live

Break-even rent $1,226

Max offer price $140,000

Occupancy floor 80%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 Bower St Unit B1 Norfolk, VA	2.0	1.0	750	$950	$1.27	16d	1	0.05mi
842 C Ave Norfolk, VA	3.0	1.5	900	$1,095	$1.22	43d	1	0.06mi
764 B Ave Norfolk, VA	3.0	2.5	1380	$1,795	$1.30	20d	1	0.11mi
754 Fremont St Norfolk, VA	2.0	1.0	852	$995	$1.17	3d	1	0.17mi
758 Fremont St Norfolk, VA	2.0	1.0	852	$995	$1.17	7d	1	0.17mi
742 Lexington St Unit A Norfolk, VA	2.0	1.0	780	$1,100	$1.41	20d	1	0.22mi
2401 Ruffin St Norfolk, VA	2.0	1.0	900	$1,350	$1.50	43d	1	0.24mi
1449 Proescher St Norfolk, VA	3.0	1.5	1400	$1,550	$1.11	23d	1	0.26mi
2500 Leo St Unit 2506 Leo Street-4 Norfolk, VA	2.0	1.0	800	$1,100	$1.38	43d	1	0.37mi
2504 Leo St Unit 3 Norfolk, VA	2.0	1.0	800	$1,100	$1.38	4d	1	0.38mi
2506 Leo St Unit 4 Norfolk, VA	2.0	1.0	800	$1,100	$1.38	43d	1	0.39mi
2315 Bolton St Norfolk, VA	3.0	1.0	1000	$1,800	$1.80	43d	1	0.41mi
2421 Bolton St Unit F Norfolk, VA	2.0	1.0	725	$1,275	$1.76	43d	1	0.43mi
2804 Waverly Way Norfolk, VA	2.0	1.0	850	$1,270	$1.49	43d	5	0.59mi
1110 Chapel St Unit 6 Norfolk, VA	2.0	1.0	1000	$1,200	$1.20	43d	1	0.62mi
912 Druid Cir Norfolk, VA	2.0	1.0	960	$1,535	$1.60	20d	1	0.64mi
912 Druid Cir Unit B Norfolk, VA	2.0	1.0	960	$1,535	$1.60	23d	1	0.64mi
1400 Granby St #119 Norfolk, VA	2.0	2.0	1224	$1,895	$1.55	43d	1	0.68mi
204 W 22nd St Norfolk, VA	1.0–2.0	1.0–2.0	907	$2,065	$2.28	3d	3	0.70mi
201 W 21st St Norfolk, VA	1.0–2.0	1.0–2.0	992	$2,199	$2.22	2d	5	0.72mi
119 E Princess Anne Rd Unit 205 Norfolk, VA	2.0	2.0	1024	$2,375	$2.32	16d	1	0.74mi
119 E Princess Anne Rd Unit 305 Norfolk, VA	2.0	2.0	1024	$2,325	$2.27	17d	1	0.74mi
2202 Llewellyn Ave Norfolk, VA	2.0	2.0	980	$1,971	$2.01	7d	1	0.78mi
1439 Moultrie Ave #3 Norfolk, VA	2.0	1.0	1300	$1,900	$1.46	7d	1	0.81mi
100 Westover Ave Norfolk, VA	2.0	2.0	1248	$2,062	$1.65	43d	1	0.84mi
1801 Saint Denis Ave Unit 3 Norfolk, VA	4.0	2.0	1500	$2,400	$1.60	23d	1	0.85mi
309 W 26th St Unit A Norfolk, VA	2.0	1.0	900	$1,525	$1.69	17d	1	0.85mi
225 W 31st St Unit D Norfolk, VA	2.0	1.0	925	$975	$1.05	7d	1	0.87mi
2928 Tidewater Dr Norfolk, VA	2.0	1.0	740	$1,350	$1.82	23d	1	0.87mi
2660 Chesapeake Blvd Norfolk, VA	3.0	2.0	1375	$2,100	$1.53	17d	1	0.89mi
1822 Saint Denis Ave Apt 4 Norfolk, VA	2.0	1.0	750	$995	$1.33	43d	1	0.89mi
645 Church St Norfolk, VA	1.0–3.0	1.0–2.0	881	$1,845	$2.09	7d	1	0.89mi
1300 Lead St Norfolk, VA	1.0–2.0	1.0	950	$1,124	$1.18	23d	1	0.91mi
417 W 27th St Unit F Norfolk, VA	3.0	2.0	1200	$1,600	$1.33	21d	1	0.96mi
417 W 27th St Unit F Norfolk, VA	3.0	2.0	1200	$1,600	$1.33	14d	1	0.96mi
3210 Llewellyn Ave Norfolk, VA	2.0	1.0	800	$975	$1.22	43d	1	0.96mi
348 Llewellyn Mews Norfolk, VA	2.0	2.0	1420	$2,095	$1.48	23d	1	0.97mi
1714 Bellevue Ave Norfolk, VA	3.0	1.5	1500	$1,799	$1.20	43d	1	0.97mi
201 W 34th St Unit 7 Norfolk, VA	2.0	1.0	750	$1,099	$1.47	19d	1	0.97mi
201 W 34th St Unit 3 Norfolk, VA	2.0	1.0	750	$995	$1.33	43d	1	0.97mi

Listing history 21 events

1. 2026-06-18
   days on market $140,000 Active 114 DOM
2. 2026-06-17
   days on market $140,000 Active 113 DOM
3. 2026-06-16
   days on market $140,000 Active 112 DOM
4. 2026-06-15
   days on market $140,000 Active 111 DOM
5. 2026-06-13
   days on market $140,000 Active 109 DOM
6. 2026-06-09
   days on market $140,000 Active 105 DOM
7. 2026-06-08
   days on market $140,000 Active 104 DOM
8. 2026-06-07
   days on market $140,000 Active 103 DOM
9. 2026-06-03
   days on market $140,000 Active 99 DOM
10. 2026-06-02
    days on market $140,000 Active 98 DOM
11. 2026-06-01
    days on market $140,000 Active 97 DOM
12. 2026-05-31
    days on market $140,000 Active 96 DOM
13. 2026-02-18
    listed $140,000 Active 109-char remark

    Show marketing remark (109 chars)

    NO SHOWING, FIXER UPPER, COMPLETE RENOVATION NEEDED MUST SIGN A HOLD HARMLESS DOCUMENT TO VIEW INVESTORS ONLY

14. 2026-02-17
    historical
15. 2026-01-20
    price $140,000
16. 2025-12-02
    status Active
17. 2025-11-20
    status Under Contract
18. 2025-02-17
    listed $161,000 Active
19. 2025-01-31
    historical
20. 2024-10-31
    listed $160,000 Active
21. 2001-05-14
    soldstatus $65,000

ⓘ 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: $2,109 · $176/mo
• Projected year-2 tax: $2,109 · $176/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 6/10 Major FEMA zone X (unshaded) · 69% 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: $18,242
• − Mortgage interest: −$7,842
• − Property taxes: −$2,109
• − Insurance: −$700
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − Depreciation: −$4,073
• Taxable income: $599
• Est. tax owed @ 24.0%: −$144
• After-tax cash flow: $2,648/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): 23,502
• Household income: $44,659
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 1531.0

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: Predominantly Black (78%)
• Race & ethnicity: Black 78% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 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: ▼ -21.60%
• Current HPI: 327.2374
• Rent YoY: ▲ 6.12%
• 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

+115.4% since first listed

9 events — show timeline

• 2026-02-18 Listed $140,000 REINMLS
• 2026-02-17 Listing Removed — REINMLS
• 2026-01-20 Price Changed $140,000 REINMLS
• 2025-12-02 Relisted — REINMLS
• 2025-11-20 Pending — REINMLS
• 2025-02-17 Listed $161,000 REINMLS
• 2025-01-31 Listing Removed — REINMLS
• 2024-10-31 Listed $160,000 REINMLS
• 2001-05-14 Sold (Public Records) $65,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $2,109 · +6.1% YoY. Source: county tax records.