1314 Perry St · Chesapeake, VA 23324

$280,000

3 bd · 3.0 ba · 1,524 sqft · SingleFamily public records · 18 Days on market

Built 1930 3,876 sqft lot Est $287k · at est.

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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 +13.2/30.0
• ARV discount +8.5/15.0
• Schools +5.8/10.0
• DSCR +3.9/10.0
• Livability +3.5/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this three-bedroom beauty that pairs historic charm with modern convenience. Enjoy bright, cozy living spaces refreshed with new paint and flooring. The primary suite is a retreat featuring a sun-drenched skylight, a renovated ensuite bathroom and walk-in closet. Outside, a newly paved driveway and fresh landscaping invites you home. The backyard provides a great outdoor space that is ready for gardening, playing, and hosting fun year-round!

Key facts

• Modern convenience
• Newly paved driveway
• Walk-in closet

Tags

• HISTORIC CHARM
• MODERN CONVENIENCE
• SUN-DRENCHED SKYLIGHT
• RENOVATED ENSUITE BATHROOM
• WALK-IN CLOSET
• NEWLY PAVED DRIVEWAY

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Off-street parking for 3 vehicles
• Utilities: City/County water; City/County sewer; Electric water heater; Electric service
• Home design: Detached home; Colonial / Traditional style; 2 stories; Crawlspace foundation
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Back yard fenced

Interior

• Kitchen: Gas range; Dishwasher
• Bedrooms: Master bedroom on the first floor; One bedroom with ensuite
• Flooring: Carpet; Ceramic; Laminate
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Cable hookup; Ceiling fan; Pull-down attic stairs; Skylights; Walk-in closet
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-7 ($-90/yr) — negative.
• To cash-flow at today's rent, offer at most $279k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (21.6% below list).
• Recommended offer: $219k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Rena B. Wright Primary (271 students, 96% FRL); Oscar F. Smith High (math 63% / reading 75%, grade B, #170 of 319 statewide, top 55%, 2,291 students, 70% FRL) — zoned schools average 83% FRL vs 28% district-wide (55 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 116 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).
• At $2,195/mo this rent would consume 46% of the median local household income ($57k/yr) (locally 1301% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 18 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $118k; list at $280k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $219,473 (21.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.78% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 0.99
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $286,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1314 Perry St	0.00mi	3/2.5	1,524 (0%)	1mo	$280,000	$184	97
1007 Holly Ave	0.24mi	3/2.0	1,586 (+4%)	3mo	$282,000	$178	76
838 Wilbur Ave	0.38mi	4/2.0 (+1)	1,500 (-2%)	2mo	$325,500	$217	69
1714 Seaboard Ave	0.57mi	3/1.0	1,581 (+4%)	3mo	$243,000	$154	57
1906 Chesapeake Ave	0.65mi	3/1.5	1,567 (+3%)	3mo	$360,000	$230	57
806 Wright Ave	0.46mi	3/2.0	1,394 (-8%)	5mo	$277,500	$199	56
1601 Chesapeake Ave	0.53mi	3/3.0	1,730 (+14%)	0mo	$324,900	$188	53
1905 Chesapeake Ave	0.67mi	4/2.0 (+1)	1,580 (+4%)	3mo	$236,000	$149	52
811 Wright Ave	0.45mi	3/1.5	1,303 (-14%)	5mo	$254,900	$196	45
1318 18th St	0.62mi	3/1.5	1,336 (-12%)	2mo	$115,000	$86	42
1023 Nelson St	0.74mi	3/1.5	1,377 (-10%)	5mo	$280,000	$203	39
1322 Hoover Ave	0.63mi	3/1.5	1,300 (-15%)	3mo	$224,000	$172	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-45,934
• Equity at exit: $41,749

10-year hold

• IRR: -8.4%
• Equity multiple: 0.48×
• Total profit: $-40,960
• Equity at exit: $24,209

Cash invested: $78,400 (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 23324

• Home prices YoY: -17.3%
• Active inventory: 116
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$156 /mo · $1,876/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $-7

Break-even live

Break-even rent $2,204

Max offer price $278,681

Occupancy floor 95%

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1151 Perry St Chesapeake, VA	3.0	1.0	1296	$2,000	$1.54	17d	1	0.14mi
1231 Stewart St Chesapeake, VA	4.0	2.5	2159	$2,550	$1.18	3d	1	0.16mi
1110 Park Ave Chesapeake, VA	3.0	2.0	1749	$2,100	$1.20	14d	1	0.26mi
1110 Park Ave Unit 23324 Chesapeake, VA	3.0	2.0	1749	$2,200	$1.26	23d	1	0.26mi
1108 Jackson Ave Chesapeake, VA	3.0	2.0	1784	$2,100	$1.18	4d	1	0.39mi
1729 Todd St Norfolk, VA	3.0	2.5	2000	$2,450	$1.23	23d	1	1.05mi
1008 Grayson St Norfolk, VA	3.0	2.0	2200	$2,495	$1.13	43d	1	1.11mi
1512 Marsh St Norfolk, VA	3.0	2.5	1727	$2,195	$1.27	43d	1	1.17mi
1510 Wilson Rd Unit 1 Norfolk, VA	3.0	1.0	1100	$1,325	$1.20	23d	1	1.24mi
1510 Wilson Rd #4 Norfolk, VA	3.0	1.0	1273	$1,400	$1.10	20d	1	1.24mi
1510 Wilson Rd Unit 3 Norfolk, VA	3.0	1.0	1273	$1,200	$0.94	43d	1	1.24mi
2620 Sunrise Ave Chesapeake, VA	3.0	1.5	1462	$1,850	$1.27	23d	1	1.34mi
2638 King Ct Chesapeake, VA	3.0	1.5	1462	$2,000	$1.37	20d	1	1.35mi
701 S Main St Norfolk, VA	3.0	2.0	1076	$1,349	$1.25	1d	2	1.37mi
127 Poplar Ave Unit 1 Norfolk, VA	3.0	2.0	1700	$2,199	$1.29	23d	1	1.42mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	2d	1	1.45mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	23d	1	1.45mi

Listing history 7 events

1. 2026-04-27
   status Under Contract
2. 2026-04-13
   historical Active Under Contract
3. 2026-04-09
   listed $280,000 Active
4. 2019-05-20
   status Under Contract
5. 2019-05-20
   soldstatus $118,000
6. 2019-02-05
   listed $125,000 Active
7. 1983-02-28
   soldstatus $24,000

ⓘ 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: $1,876 · $156/mo
• Projected year-2 tax: $2,296 · $191/mo
• Expected delta: +$420/yr (+$35/mo · 22.4%)

ⓘ 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) · 71% 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: $26,337
• − Mortgage interest: −$15,684
• − Property taxes: −$1,876
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − Depreciation: −$8,145
• Taxable loss: −$4,982
• Est. tax savings @ 24.0%: +$1,196
• After-tax cash flow: $1,106/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): 24,670
• Household income: $57,045
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 1301.0

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 0.59)
• Race & ethnicity: Black 58% White 27% Two or more races 9% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 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: ▼ -66.73%
• Current HPI: 319.2653
• Rent YoY: —
• 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

+1066.7% since first listed

7 events — show timeline

• 2026-04-27 Pending — REINMLS
• 2026-04-13 Contingent — REINMLS
• 2026-04-09 Listed $280,000 REINMLS
• 2019-05-20 Pending — REINMLS
• 2019-05-20 Sold (Public Records) $118,000 Public Records
• 2019-02-05 Listed $125,000 REINMLS
• 1983-02-28 Sold (Public Records) $24,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,876 · +4.2% YoY. Source: county tax records.