7417 Evelyn T Butts Ave · Norfolk, VA 23513

$168,900

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 45 Days on market

Built 1939 $166/sqft · 36% below area Est $265k · 36% under ↓ 9% since listing

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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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special/ Fixer Upper Opportunity Great opportunity to add value! Solid structure with strong upside potential. Good for renovation, or rental. Priced to sell bring your contractor and imagination. Property sold as-is. Cash or renovation loans.

Key facts

• Parking
• Built 1939
• Listed 45 days

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Carport; Off-street parking (1 space)
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached ranch; Single-story (1 living level); Simple ownership
• Construction: Crawl foundation; Metal roof
• Exterior features: Log and vinyl siding; Back fenced

Interior

• Kitchen: Electric range
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on the first floor
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Vinyl flooring; Fixer upper
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/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 $166k (1.8% below list).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: Norview High (math 33% / reading 85%, grade C+, #256 of 319 statewide, top 81%, 1,915 students, 97% FRL) — zoned schools average 97% FRL vs 59% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 59% at this address vs 42% district-wide (+18 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); 132 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1939 — 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 $163,833 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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. 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: 0.98% ✗
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (median comp): $265,000
• List price: $168,900
• Delta: -36.26%
• 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
7012 Selma Ave	0.38mi	3/1.0	1,000 (-2%)	4mo	$259,750	$260	75
909 Workwood Rd	0.46mi	3/1.0	1,005 (-2%)	2mo	$270,000	$269	74
940 Avenue H	0.16mi	2/1.0 (-1)	1,088 (+7%)	3mo	$170,000	$156	74
7948 Merritt St	0.43mi	3/1.0	1,002 (-2%)	4mo	$122,000	$122	74
1033 Tifton St	0.43mi	3/1.0	972 (-5%)	4mo	$260,000	$267	69
840 Workwood Rd	0.55mi	3/1.0	1,040 (+2%)	5mo	$255,000	$245	67
1112 Newell Ave	0.74mi	3/1.0	1,026 (+1%)	5mo	$195,000	$190	60
936 Widgeon Rd	0.65mi	3/1.0	960 (-6%)	3mo	$180,000	$188	57
805 Tifton St	0.67mi	3/1.0	1,114 (+9%)	2mo	$263,000	$236	51
7450 Tyndale Ct	0.55mi	2/1.0 (-1)	912 (-11%)	1mo	$235,000	$258	51
864 Lasser Dr	0.53mi	3/1.0	874 (-14%)	2mo	$160,000	$183	49
7431 Tyndale Ct	0.59mi	4/1.0 (+1)	1,156 (+13%)	1mo	$260,000	$225	44

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 · 3.42% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.76×
• Total profit: $-11,162
• Equity at exit: $25,184

10-year hold

• IRR: 3.7%
• Equity multiple: 1.28×
• Total profit: $13,053
• Equity at exit: $14,603

Cash invested: $47,292 (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 23513

• Home prices YoY: -9.3%
• Rents YoY: 3.4%
• Active inventory: 132
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,658 high
• Mortgage (P&I): −$886
• Tax from tax record: −$110 /mo · $1,319/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $244

Break-even live

Break-even rent $1,349

Max offer price $168,900

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: $42,225
• Closing costs: $5,067
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7128 Gregory Dr Norfolk, VA	2.0	1.0	720	$1,800	$2.50	43d	1	0.26mi
7108 Gregory Dr Norfolk, VA	2.0	1.0	720	$1,400	$1.94	43d	1	0.29mi
869 Bancker Rd Norfolk, VA	2.0	1.0–1.5	910	$1,142	$1.26	43d	1	0.47mi
6975 Bonnot Dr Norfolk, VA	3.0	1.5	1188	$1,700	$1.43	43d	1	0.55mi
7922 Old Ocean View Rd Norfolk, VA	1.0–3.0	1.0–1.5	890	$1,300	$1.46	1d	3	0.59mi
7465 Fenner St Unit 7468-2-A8 Norfolk, VA	2.0	1.0	900	$1,399	$1.55	20d	1	0.61mi
7427 Tyndale Ct Unit 1 Norfolk, VA	2.0	1.0	786	$995	$1.27	43d	1	0.64mi
7433 Fenner St Norfolk, VA	1.0–2.0	1.0	715	$1,399	$1.96	14d	7	0.67mi
837 Tifton St Norfolk, VA	3.0	2.0	1072	$2,300	$2.15	23d	1	0.68mi
715 Easy St Unit 2 Norfolk, VA	2.0	1.0	750	$1,200	$1.60	14d	1	0.70mi
7996 Diggs Rd Unit D Norfolk, VA	3.0	2.0	950	$1,375	$1.45	43d	1	0.77mi
7474 Pennington Rd Unit 7474 Norfolk, VA	2.0	1.0	1000	$1,525	$1.52	1d	1	0.79mi
507 Ashlawn Dr Norfolk, VA	2.0	1.0	750	$1,395	$1.86	43d	1	0.98mi
508 Ashlawn Dr Unit 2 Norfolk, VA	2.0	1.0	725	$1,250	$1.72	21d	1	0.98mi
504 Ashlawn Dr Norfolk, VA	2.0	1.0	725	$1,250	$1.72	21d	1	1.00mi
504 Ashlawn Dr Unit 2 Norfolk, VA	2.0	1.0	725	$1,250	$1.72	23d	1	1.00mi
6430 Faraday Ct Norfolk, VA	4.0	1.5	1319	$1,995	$1.51	43d	1	1.00mi
440 San Antonio Blvd Norfolk, VA	2.0	1.0	800	$1,535	$1.92	23d	1	1.02mi
6451 Edward St Norfolk, VA	3.0	2.5	1400	$2,000	$1.43	7d	1	1.03mi
417 E Little Creek Rd Apt 4 Norfolk, VA	2.0	1.0	700	$1,050	$1.50	7d	1	1.04mi
6340 Sewells Point Rd Apt communities Norfolk, VA	2.0	1.0	750	$1,099	$1.47	21d	1	1.08mi
6343 Chesapeake Blvd Apt communities Norfolk, VA	2.0	1.0	750	$1,099	$1.47	21d	1	1.09mi
408 E Little Creek Rd Norfolk, VA	3.0	2.0	1224	$2,200	$1.80	43d	1	1.10mi
1214 Frank St Norfolk, VA	3.0	2.0	1250	$2,300	$1.84	12d	1	1.11mi
6450 Crescent Way Norfolk, VA	1.0–3.0	1.0–2.0	1128	$2,369	$2.10	2d	23	1.15mi
845 Norman Ave Norfolk, VA	2.0	1.0	862	$2,000	$2.32	23d	1	1.17mi
8231 Andrew Ln Norfolk, VA	3.0	1.0	720	$1,800	$2.50	23d	1	1.17mi
1346 Tallwood St Norfolk, VA	3.0	2.0	1293	$2,200	$1.70	3d	1	1.21mi
756 Norman Ave Norfolk, VA	3.0	1.0	1500	$1,875	$1.25	21d	1	1.23mi
310 Naval Base Rd Norfolk, VA	3.0	1.0	1000	$1,850	$1.85	23d	1	1.25mi
6234 Chesapeake Blvd Norfolk, VA	2.0	1.0	986	$925	$0.94	17d	1	1.26mi
1859 Branchwood St Unit 1492775P Norfolk, VA	3.0	2.0	1367	$3,800	$2.78	14d	1	1.28mi
6249 Alexander St Unit F Norfolk, VA	2.0	1.0	817	$1,195	$1.46	3d	1	1.28mi
6249 Alexander St Unit C Norfolk, VA	2.0	1.0	817	$1,195	$1.46	17d	1	1.28mi
6249 Alexander St Unit C Norfolk, VA	2.0	1.0	817	$1,195	$1.46	23d	1	1.28mi
6228 Chesapeake Blvd Unit G Norfolk, VA	2.0	1.0	885	$925	$1.05	43d	1	1.28mi
311 Ashlawn Dr Unit 3 Norfolk, VA	2.0	1.0	800	$1,195	$1.49	44d	1	1.29mi
6241 Alexander St Unit F Norfolk, VA	2.0	1.0	704	$895	$1.27	12d	1	1.30mi
609 Summers Dr Norfolk, VA	3.0	1.0	998	$1,995	$2.00	3d	1	1.30mi
312 Ashlawn Dr Norfolk, VA	2.0	1.0	720	$1,200	$1.67	43d	1	1.32mi

Listing history 19 events

1. 2026-06-18
   days on market $168,900 Active 45 DOM
2. 2026-06-17
   days on market $168,900 Active 44 DOM
3. 2026-06-16
   days on market $168,900 Active 43 DOM
4. 2026-06-15
   days on market $168,900 Active 42 DOM
5. 2026-06-13
   days on market $168,900 Active 40 DOM
6. 2026-06-09
   days on market $168,900 Active 36 DOM
7. 2026-06-08
   days on market $168,900 Active 35 DOM
8. 2026-06-07
   days on market $168,900 Active 34 DOM
9. 2026-06-03
   days on market $168,900 Active 30 DOM
10. 2026-06-02
    days on market $168,900 Active 29 DOM
11. 2026-06-01
    days on market $168,900 Active 28 DOM
12. 2026-05-31
    days on market $168,900 Active 27 DOM
13. 2026-05-04
    listed $175,000 Active 252-char remark
14. 2026-04-20
    historical
15. 2026-04-17
    price $180,000
16. 2026-03-04
    price $172,850
17. 2026-02-17
    price $179,850
18. 2026-01-23
    price $180,850
19. 2025-12-18
    listed $185,000 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: $1,319 · $110/mo
• Projected year-2 tax: $1,385 · $115/mo
• Expected delta: +$66/yr (+$6/mo · 5.0%)

ⓘ 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) · 20% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,899
• − Mortgage interest: −$9,461
• − Property taxes: −$1,319
• − Insurance: −$844
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$4,913
• Taxable income: $177
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $2,886/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): 28,628
• Household income: $68,380
• Rent vs Own: 43.9% rent · 56.1% own
• Severe rent burden: 1342.0

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 0.63)
• Race & ethnicity: Black 55% White 23% Hispanic / Latino 11% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 0%
• Foreign-born: 10% · Canada
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 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: ▼ -33.67%
• Current HPI: 329.2241
• Rent YoY: ▲ 3.42%
• 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

-8.7% since first listed

8 events — show timeline

• 2026-05-22 Price Changed $168,900 REINMLS
• 2026-05-04 Listed $175,000 REINMLS
• 2026-04-20 Listing Removed — REINMLS
• 2026-04-17 Price Changed $180,000 REINMLS
• 2026-03-04 Price Changed $172,850 REINMLS
• 2026-02-17 Price Changed $179,850 REINMLS
• 2026-01-23 Price Changed $180,850 REINMLS
• 2025-12-18 Listed $185,000 REINMLS

Property tax history

+8.5%/yr

Latest (2025): $1,319 · +48.9% YoY. Source: county tax records.