4889 Norvella Ave · Norfolk, VA 23513

$249,900

3 bd · 2.0 ba · 1,367 sqft · SingleFamily public records · 48 Days on market

Built 1946 10,842 sqft lot $183/sqft · 20% below area Est $311k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.9/30.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• DSCR +2.8/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on Market, no fault of seller. New Electrical panel and wiring, New Exterior Fascia Boards, New Shower Valve and plumbing in upstairs bathroom, Roof replaced in 2018. Cute 3 bedroom, 2 bath home on corner lot with huge yard. Detached garage, near military bases, airport, interstates, shopping and much more!

Key facts

• Huge yard
• Corner lot
• Detached garage

Tags

• CORNER LOT
• HUGE YARD
• DETACHED GARAGE

Property features AI

Finance

• HOA & community: No HOA/POA fees

Exterior

• Parking: Detached 1-car garage; Driveway space; Street parking; 1 additional parking space
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached Cape Cod; 1.5 stories; Simple ownership
• Construction: Asbestos siding; Asphalt shingle roof; Crawl foundation; Built on approximately 0.2489 acres
• Exterior features: Corner lot; Deck; Partial chain link fence

Interior

• Kitchen: Dishwasher; Disposal; Gas range; Refrigerator
• Bedrooms: There is a bedroom with a full bathroom on the first floor; Attic
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air; Window/wall units
• Interior features: Cable hookup; Ceiling fan; Satellite dish; Window treatments
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-156 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (24.2% below list).
• Recommended offer: $189k (24.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Sherwood Forest Elementary (math 27% / reading 52%, grade F, #900 of 1,108 statewide, top 83%, 480 students, 98% FRL); Norview Middle (math 19% / reading 54%, grade F, #320 of 342 statewide, top 95%, 1,259 students, 89% FRL); Norview High (math 33% / reading 85%, grade C+, #256 of 319 statewide, top 81%, 1,915 students, 97% FRL) — zoned schools average 95% FRL vs 59% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 135 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 438 units permitted in Norfolk city in 2024 (273 in 5+ unit buildings).
• This rent runs 33% of the median local income ($68k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 $100k; list at $250k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $189,498 (24.2% 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. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.68%
• DSCR: 0.88
• GRM: 11.0

CMA / ARV

• ARV (median comp): $311,159
• List price: $249,900
• Delta: -19.69%
• 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
4880 Texas Ave	0.07mi	3/2.0	1,338 (-2%)	2mo	$325,000	$243	92
5160 Texas Ave	0.17mi	3/1.0	1,350 (-1%)	3mo	$231,000	$171	84
5110 Kennebeck Ave	0.41mi	3/2.0	1,415 (+4%)	1mo	$361,000	$255	74
3413 Wellington St	0.23mi	3/2.0	1,500 (+10%)	1mo	$345,000	$230	72
6341 Edward St	0.59mi	3/2.0	1,400 (+2%)	1mo	$310,000	$221	68
4540 Hampshire Ave	0.66mi	4/1.0 (+1)	1,398 (+2%)	2mo	$240,000	$172	55
3633 Kevin Dr	0.75mi	3/2.0	1,477 (+8%)	1mo	$246,136	$167	51
4873 Robin Hood Rd	0.68mi	4/2.0 (+1)	1,470 (+8%)	0mo	$317,500	$216	50
1455 Mellwood Ct	0.60mi	3/1.0	1,200 (-12%)	3mo	$266,000	$222	45
5850 Chesapeake Blvd	0.54mi	4/2.5 (+1)	1,544 (+13%)	2mo	$370,000	$240	45
4885 Beamon Rd	0.58mi	4/2.0 (+1)	1,177 (-14%)	0mo	$315,000	$268	45
5026 Krick St	0.72mi	3/2.0	1,545 (+13%)	1mo	$335,000	$217	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: -20.3%
• Equity multiple: 0.29×
• Total profit: $-49,670
• Equity at exit: $37,261

10-year hold

• IRR: -12.6%
• Equity multiple: 0.25×
• Total profit: $-52,819
• Equity at exit: $21,607

Cash invested: $69,972 (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: 135
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,895 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$239 /mo · $2,866/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-156

Break-even live

Break-even rent $2,093

Max offer price $222,268

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-86	+0% $-156	+5% $-227	+10% $-298
Rent	-10% $-306	-5% $-231	+0% $-156	+5% $-82	+10% $-7
Rate	-1.0pp $-31	-0.5pp $-93	base $-156	+0.5pp $-221	+1.0pp $-287

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1232 Norview Ave Unit NOR1232R-EA Norfolk, VA	3.0	2.0	1106	$1,600	$1.45	45d	1	0.28mi
3305 Herbert St Norfolk, VA	2.0	1.0	1215	$1,750	$1.44	14d	1	0.31mi
6201 Geneva Way Unit B Norfolk, VA	2.0	1.5	1200	$1,500	$1.25	45d	1	0.38mi
6228 Chesapeake Blvd Unit G Norfolk, VA	2.0	1.0	885	$925	$1.05	45d	1	0.43mi
6234 Chesapeake Blvd Norfolk, VA	2.0	1.0	986	$925	$0.94	19d	1	0.45mi
3820 Essex Cir Unit A Norfolk, VA	2.0	1.0	1000	$2,200	$2.20	23d	1	0.57mi
3820 Essex Cir #1 Norfolk, VA	2.0	1.0	1000	$2,250	$2.25	19d	1	0.57mi
3820 Essex Cir Unit B 1 Norfolk, VA	2.0	1.0	900	$1,700	$1.89	23d	1	0.57mi
3819 Pamlico Cir Norfolk, VA	3.0	1.0	1250	$2,000	$1.60	14d	1	0.63mi
4563 Shoshone Ct Norfolk, VA	3.0	2.0	1600	$2,500	$1.56	45d	1	0.67mi
6430 Faraday Ct Norfolk, VA	4.0	1.5	1319	$1,995	$1.51	45d	1	0.69mi
6451 Edward St Norfolk, VA	3.0	2.5	1400	$2,000	$1.43	9d	1	0.72mi
4745 Lind St Unit A Norfolk, VA	2.0	1.0	1000	$1,600	$1.60	45d	1	0.74mi
3477 E Bonner Dr Norfolk, VA	3.0	1.0	1304	$2,000	$1.53	25d	1	0.81mi
6450 Crescent Way Norfolk, VA	1.0–3.0	1.0–2.0	1128	$2,369	$2.10	4d	23	0.85mi
2640 Azalea Garden Rd Norfolk, VA	3.0	1.5	1100	$2,150	$1.95	5d	1	0.85mi
3801 Chatham Cir Unit 2 Norfolk, VA	2.0	1.0	1100	$1,350	$1.23	9d	1	0.89mi
3504 Chesapeake Blvd Norfolk, VA	3.0	2.0	1624	$1,995	$1.23	25d	1	0.91mi
3504 Chesapeake Blvd Norfolk, VA	3.0	2.0	1624	$1,995	$1.23	45d	1	0.91mi
3326 Sandy St Norfolk, VA	3.0	1.0	1040	$1,695	$1.63	4d	1	0.94mi
3461 Gamage Dr Norfolk, VA	3.0	2.0	1300	$2,300	$1.77	45d	1	0.96mi
3653 Nottaway St Norfolk, VA	3.0	1.5	1564	$2,200	$1.41	19d	1	0.96mi
3640 Robin Hood Rd Norfolk, VA	4.0	2.5	1400	$2,999	$2.14	19d	1	1.05mi
2412 Azalea Garden Rd Unit 105 Norfolk, VA	2.0	1.0	950	$1,325	$1.39	25d	1	1.07mi
2412 Azalea Garden Rd Apt 210 Norfolk, VA	2.0	1.0	950	$1,325	$1.39	45d	1	1.07mi
6419 Grimes Ave Norfolk, VA	3.0	2.0	1225	$2,150	$1.76	45d	1	1.10mi
1562 Norcova Ave Norfolk, VA	3.0	1.0	1288	$2,000	$1.55	19d	1	1.19mi
5404 Douglas St Norfolk, VA	3.0	1.0	981	$1,950	$1.99	45d	1	1.24mi
1544 Kilmer Ln Norfolk, VA	4.0	2.0	1874	$2,495	$1.33	12d	1	1.25mi
6975 Bonnot Dr Norfolk, VA	3.0	1.5	1188	$1,700	$1.43	45d	1	1.31mi
3521 Brest Ave Norfolk, VA	3.0	2.0	1234	$2,300	$1.86	45d	1	1.37mi
1531 Spruce St Unit B Norfolk, VA	3.0	2.0	1304	$1,600	$1.23	25d	1	1.39mi
1531 Spruce St Unit B Norfolk, VA	3.0	2.0	1304	$1,600	$1.23	45d	1	1.39mi
6115 Tidewater Dr Norfolk, VA	1.0–2.0	1.0–2.0	956	$2,274	$2.38	3d	8	1.46mi

Listing history 17 events

1. 2026-06-13
   statusdays on market $249,900 Under Contract 48 DOM
2. 2026-06-09
   days on market $249,900 Active Under Contract 47 DOM
3. 2026-06-08
   days on market $249,900 Active Under Contract 46 DOM
4. 2026-06-07
   remarks 313-char remark
5. 2026-06-07
   statusdays on market $249,900 Active Under Contract 45 DOM
6. 2026-06-03
   days on market $249,900 Active 41 DOM
7. 2026-06-02
   statusdays on market $249,900 Active 40 DOM
8. 2026-06-01
   days on market $249,900 Active Under Contract 39 DOM
9. 2026-05-31
   days on market $249,900 Active Under Contract 38 DOM
10. 2026-04-23
    listed $249,900 Active 141-char remark
11. 2011-10-12
    historical
12. 2011-10-12
    historical
13. 2011-04-13
    listed
14. 2011-04-13
    listed $125,000
15. 2002-12-18
    soldstatus $100,000
16. 1999-05-19
    soldstatus $81,900
17. 1998-11-24
    soldstatus $58,000

ⓘ 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: $2,866 · $239/mo
• Projected year-2 tax: $2,866 · $239/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°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: $22,740
• − Mortgage interest: −$13,998
• − Property taxes: −$2,866
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$7,270
• Taxable loss: −$6,282
• Est. tax savings @ 24.0%: +$1,508
• After-tax cash flow: $-369/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

+330.9% since first listed

12 events — show timeline

• 2026-06-10 Pending — REINMLS
• 2026-06-05 Contingent — REINMLS
• 2026-06-02 Relisted — REINMLS
• 2026-05-22 Contingent — REINMLS
• 2026-04-23 Listed $249,900 REINMLS
• 2011-10-12 Delisted — MRIS
• 2011-10-12 Listing Removed — BRIGHT MLS
• 2011-04-13 Listed — MRIS
• 2011-04-13 Listed $125,000 BRIGHT MLS
• 2002-12-18 Sold (Public Records) $100,000 Public Records
• 1999-05-19 Sold (Public Records) $81,900 Public Records
• 1998-11-24 Sold (Public Records) $58,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,866 · +0.4% YoY. Source: county tax records.