377 Norfolk Ave · Bristol, VA 24201

$69,900

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 60 Days on market

Built 1920 0.25 ac lot $79/sqft · 31% below area Est $101k · 31% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Good location!! 2 bedroom 1 bath beside of a vacant lot. Ready to change into your dream home! Fenced in back yard and more.

Key facts

• Fenced in back yard
• 0.25 acre lot
• Built 1920

Tags

• FENCED IN BACK YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 4.9% in Bristol — 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 74/100 on livability (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bristol City Public School District (urban): math 57% / reading 70% proficiency, ranked #53 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 156 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 15 units permitted in Bristol city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Bristol County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $70k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1920 — 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: 1.93% ✓
• Cap rate: 17.40%
• Cash-on-cash: 39.67%
• DSCR: 2.77
• GRM: 4.3

CMA / ARV

• ARV (median comp): $100,907
• List price: $69,900
• Delta: -30.73%
• 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
540 Madison St	0.41mi	2/1.0	870 (-1%)	4mo	$35,000	$40	75
617 Dixie St	0.26mi	2/1.0	842 (-4%)	9mo	$65,500	$78	73
1002 Massachusetts Ave	0.17mi	2/1.0	804 (-9%)	8mo	$115,000	$143	71
136 Beaver St #1	0.49mi	2/1.0	816 (-7%)	2mo	$140,000	$172	64
158 Fuller St	0.73mi	2/1.0	864 (-2%)	0mo	$75,000	$87	63
934 Massachusetts Ave	0.17mi	3/2.0 (+1)	957 (+9%)	8mo	$125,000	$131	62
608 Florida Ave	0.69mi	2/2.0	864 (-2%)	2mo	$180,000	$208	59
382 Texas Ave	0.50mi	2/1.0	973 (+11%)	6mo	$99,000	$102	54
165 Hughes St	0.53mi	2/1.0	804 (-9%)	10mo	$148,000	$184	52
1507 Massachusetts Ave	0.50mi	2/1.0	789 (-10%)	9mo	$119,700	$152	52
159 Hillside Ave	0.59mi	2/1.0	809 (-8%)	11mo	$109,000	$135	50
124 Reservoir St	0.36mi	3/1.0 (+1)	1,005 (+14%)	7mo	$132,000	$131	48

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: 36.0%
• Equity multiple: 2.53×
• Total profit: $29,865
• Equity at exit: $10,422

10-year hold

• IRR: 42.7%
• Equity multiple: 5.04×
• Total profit: $78,992
• Equity at exit: $6,044

Cash invested: $19,572 (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 24201

• Active inventory: 156
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,347 high
• Mortgage (P&I): −$367
• Tax from tax record: −$22 /mo · $260/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $647

Break-even live

Break-even rent $528

Max offer price $69,900

Occupancy floor 47%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 Kingsolver St Bristol, VA	2.0	1.0	1000	$1,400	$1.40	21d	1	0.38mi
1733 Dunlap St Bristol, VA	3.0	1.0	900	$1,250	$1.39	13d	1	0.59mi
361 Heathland Dr Unit 365 Bristol, VA	1.0	1.0	550	$750	$1.36	43d	1	0.69mi
816 Goode St Bristol, VA	1.0	1.0	822	$2,000	$2.43	13d	1	1.07mi
1001 Virginia Ave Unit 2 Bristol, TN	2.0	1.0	800	$1,375	$1.72	21d	1	1.09mi
1206 Golf St Bristol, TN	3.0	1.0	960	$1,500	$1.56	13d	1	1.22mi
1225 Carriage Cir #203 Bristol, VA	2.0	2.0	968	$1,150	$1.19	13d	1	1.40mi

Listing history 22 events

1. 2026-06-19
   days on market $69,900 Active 60 DOM
2. 2026-06-18
   days on market $69,900 Active 59 DOM
3. 2026-06-17
   days on market $69,900 Active 58 DOM
4. 2026-06-16
   days on market $69,900 Active 57 DOM
5. 2026-06-15
   days on market $69,900 Active 56 DOM
6. 2026-06-14
   days on market $69,900 Active 54 DOM
7. 2026-06-13
   days on market $69,900 Active 53 DOM
8. 2026-06-10
   days on market $69,900 Active 51 DOM
9. 2026-06-09
   days on market $69,900 Active 50 DOM
10. 2026-06-08
    days on market $69,900 Active 49 DOM
11. 2026-06-07
    pricestatusdays on market $69,900 Active 48 DOM
12. 2026-06-03
    days on market $79,900 Active Under Contract 44 DOM
13. 2026-06-02
    days on market $79,900 Active Under Contract 43 DOM
14. 2026-06-01
    days on market $79,900 Active Under Contract 42 DOM
15. 2026-05-31
    days on market $79,900 Active Under Contract 41 DOM
16. 2026-05-30
    days on market $79,900 Active Under Contract 40 DOM
17. 2026-05-19
    historical Active Under Contract 124-char remark

    Show marketing remark (124 chars)

    Good location!! 2 bedroom 1 bath beside of a vacant lot. Ready to change into your dream home! Fenced in back yard and more.

18. 2026-04-20
    listed $79,900 Active 124-char remark

    Show marketing remark (124 chars)

    Good location!! 2 bedroom 1 bath beside of a vacant lot. Ready to change into your dream home! Fenced in back yard and more.

19. 2022-06-27
    soldstatus $30,000 367-char remark

    Show marketing remark (367 chars)

    Investors looking for your next project? (911 address change from 821 Norfolk Ave for GPS purposes)This 2 bedroom 1 bath home fixer upper is located close to downtown and has lots of potential. Fenced back yard. Property is being sold AS-IS. Long-time tenant of 10+ years just moved due to status change in her life. Minutes away from downtown! Caution on back porch.

20. 2022-06-27
    soldstatus $32,000

    Show marketing remark (367 chars)

    Investors looking for your next project? (911 address change from 821 Norfolk Ave for GPS purposes)This 2 bedroom 1 bath home fixer upper is located close to downtown and has lots of potential. Fenced back yard. Property is being sold AS-IS. Long-time tenant of 10+ years just moved due to status change in her life. Minutes away from downtown! Caution on back porch.

21. 2022-05-19
    listed $38,000 367-char remark

    Show marketing remark (367 chars)

    Investors looking for your next project? (911 address change from 821 Norfolk Ave for GPS purposes)This 2 bedroom 1 bath home fixer upper is located close to downtown and has lots of potential. Fenced back yard. Property is being sold AS-IS. Long-time tenant of 10+ years just moved due to status change in her life. Minutes away from downtown! Caution on back porch.

22. 2002-07-22
    soldstatus $26,000

ⓘ 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: $260 · $22/mo
• Projected year-2 tax: $573 · $48/mo
• Expected delta: +$313/yr (+$26/mo · 120.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,169
• − Mortgage interest: −$3,915
• − Property taxes: −$260
• − Insurance: −$350
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$2,033
• Taxable income: $7,023
• Est. tax owed @ 24.0%: −$1,686
• After-tax cash flow: $6,079/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: Bristol City Public School District
• NCES district ID: 5100450
• Math proficiency: 57% ▼ -24.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $33,978
• Composite: 52.4/100
• National rank: #1579
• State rank: #53 of 131 in VA

Livability — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

Amenities C+ Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, VA
• City population: 16,039
• Population (ZIP): 16,039

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 16,113 people
• By 2030: 15,510 · -3.7%
• By 2040: 14,121 · -12.4%
• By 2050: 12,847 · -20.3%
• By 2075: 9,870 · -38.7%
• By 2100: 7,883 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Serbian 1% Iranian 0%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Bristol

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -13.6pp toward R · 2008: -26.0pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+38.9 2016: R+43.8 2012: R+31.1 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.40%
• Current HPI: 196.2099
• Rent YoY: —
• Metro: —
• 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

+207.3% since first listed

6 events — show timeline

• 2026-05-19 Contingent — TVRMLS
• 2026-04-20 Listed $79,900 TVRMLS
• 2022-06-27 Sold (Public Records) $32,000 Public Records
• 2022-06-27 Sold (MLS) $30,000 TVRMLS
• 2022-05-19 Listed $38,000 TVRMLS
• 2002-07-22 Sold (Public Records) $26,000 Public Records