920 Sherry Ave · Virginia Beach, VA 23464

$315,000

3 bd · 1.5 ba · 2,934 sqft · SingleFamily public records · 10 Days on market

Built 1955 0.25 ac lot

---

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 +11.2/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• DSCR +3.3/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

With the right loan (possibly 203K) and imagination this could be turned back into a multi-generational property, with an accessory dwelling unit. Large lot for the upcoming warmer weather. Great deal of potential for the right buyer/investor, listed well beneath the city's assessmentBeing sold AS-IS.

Key facts

• Large lot
• 0.25 acre lot
• Built 1955

Tags

• ACCESSORY DWELLING UNIT
• LARGE LOT
• MULTI-GENERATIONAL PROPERTY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-123 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (21.5% below list).
• Recommended offer: $247k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.5% in Virginia Beach — 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 (#38 in VA, #880 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, housing A+; Watch: cost of living C-, commute F.
• Va Beach City Public School District (urban): math 69% / reading 78% proficiency, ranked #10 of 131 in VA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Woodstock Elementary (math 57% / reading 70%, grade B, #460 of 1,108 statewide, top 42%, 664 students, 50% FRL); Tallwood High (math 81% / reading 88%, grade A, #23 of 319 statewide, top 8%, 1,861 students, 44% FRL) — zoned schools average 47% FRL vs 28% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 225 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).
• This rent runs 32% of the median local income ($92k/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 $9k of value loss. Plan a longer hold.
• Virginia Beach County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $247,321 (21.5% 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 1955 — 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: 0.79% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $648,414
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
801 Chessie Ct	0.50mi	4/3.0 (+1)	3,128 (+7%)	3mo	$565,000	$181	52
3513 Byrn Brae Dr	0.63mi	4/3.5 (+1)	3,088 (+5%)	2mo	$525,000	$170	47
3449 S Crestline Dr	0.63mi	4/3.5 (+1)	3,100 (+6%)	3mo	$765,000	$247	46
801 Kings Creek Dr	0.45mi	4/3.0 (+1)	2,554 (-13%)	7mo	$565,000	$221	40

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 · 6.36% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.43×
• Total profit: $-50,282
• Equity at exit: $46,968

10-year hold

• IRR: -2.4%
• Equity multiple: 0.82×
• Total profit: $-15,996
• Equity at exit: $27,235

Cash invested: $88,200 (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 23464

• Rents YoY: 6.4%
• Active inventory: 225
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,473 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$294 /mo · $3,529/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $-123

Break-even live

Break-even rent $2,629

Max offer price $293,206

Occupancy floor 100%

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1033 Hobbs Rd Virginia Beach, VA	3.0	2.0	2400	$3,000	$1.25	23d	1	0.33mi

Listing history 14 events

1. 2026-03-23
   status Under Contract
2. 2026-03-12
   listed $315,000 Active
3. 2017-09-13
   historical
4. 2017-04-06
   listed $340,000 Active
5. 2017-01-01
   historical
6. 2016-11-22
   status Active
7. 2016-11-21
   historical
8. 2016-11-04
   listed $335,900 Active
9. 2016-11-01
   historical
10. 2016-02-05
    price $340,000
11. 2015-10-10
    listed $345,000 Active
12. 2006-08-25
    soldstatus $314,900
13. 2006-08-25
    soldstatus $314,900
14. 1993-08-19
    soldstatus $98,000

ⓘ 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: $3,529 · $294/mo
• Projected year-2 tax: $3,529 · $294/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 ≥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 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,679
• − Mortgage interest: −$17,645
• − Property taxes: −$3,529
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,374
• − Management: −$2,374
• − Depreciation: −$9,164
• Taxable loss: −$6,982
• Est. tax savings @ 24.0%: +$1,676
• After-tax cash flow: $195/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: Va Beach City Public School District
• NCES district ID: 5103840
• Math proficiency: 69% ▼ -19.00%
• Reading proficiency: 78% ▼ -7.00%
• Median HH income: $66,452
• Composite: 63.81/100
• National rank: #594
• State rank: #10 of 131 in VA

Livability — Virginia Beach

• Score: 83/100
• State rank: #38
• US rank: #880

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Virginia Beach, VA
• County: Virginia Beach City · 448,227 people
• City population: 448,227
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 75,061
• Household income: $92,468
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 1929.0

Population outlook (Virginia Beach County) Hauer SSP2

• Today (2025): 480,401 people
• By 2030: 491,221 · +2.3%
• By 2040: 504,882 · +5.1%
• By 2050: 508,847 · +5.9%
• By 2075: 504,831 · +5.1%
• By 2100: 465,867 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 50% Black 23% Asian 10% Two or more races 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, Vietnam, China
• Languages at home: 85% English-only · Tagalog/Filipino 5% Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Virginia Beach

• 2024 margin: Toss-up / Even · D 50.7% · R 48.0% · Other 1.3%
• 2008→2024 swing: +3.4pp toward D · 2008: -0.7pp · 2024: 2.6pp
• All cycles: 2024: D+2.6 2020: D+5.4 2016: R+4.5 2012: R+2.5 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -271.27%
• Current HPI: 324.1854
• Rent YoY: ▲ 6.36%
• 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

+221.4% since first listed

14 events — show timeline

• 2026-03-23 Pending — REINMLS
• 2026-03-12 Listed $315,000 REINMLS
• 2017-09-13 Listing Removed — REINMLS
• 2017-04-06 Listed $340,000 REINMLS
• 2017-01-01 Listing Removed — REINMLS
• 2016-11-22 Relisted — REINMLS
• 2016-11-21 Listing Removed — REINMLS
• 2016-11-04 Listed $335,900 REINMLS
• 2016-11-01 Listing Removed — REINMLS
• 2016-02-05 Price Changed $340,000 REINMLS
• 2015-10-10 Listed $345,000 REINMLS
• 2006-08-25 Sold (Public Records) $314,900 Public Records
• 2006-08-25 Sold (Public Records) $314,900 Public Records
• 1993-08-19 Sold (Public Records) $98,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $3,529 · +7.1% YoY. Source: county tax records.