2531 Arkansas Ave · Norfolk, VA 23513

$140,000

3 bd · 2.0 ba · 1,457 sqft · SingleFamily public records · 15 Days on market

Built 1954

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• 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

Property Sold as-is. No concessions No Repairs. All Brick Ranch home with 1457sf of living space, 3 bedroom, 2 full bathrooms, driveway parking, convenient Norfolk location off of Princess Anne Blvd near shopping and restaurants. Excellent Value! Must see to appreciate!

Key facts

• All brick ranch
• Driveway parking
• Built 1954

Tags

• ALL BRICK RANCH
• CONVENIENT NORFOLK LOCATION
• DRIVEWAY PARKING

Property features AI

Finance

• HOA & community: No HOA fees reported

Exterior

• Parking: Driveway parking spaces
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached ranch-style home; Single-story
• Construction: Brick siding; Asphalt shingle roof; Crawlspace foundation
• Exterior features: Deck; Partial fence

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on the first floor
• Flooring: Carpet; Ceramic; Vinyl
• Bathrooms: 2 full bathrooms; At least one full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Carpet, ceramic and vinyl flooring; Living room, great room, dining room, family room, porch
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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: Coleman Place Elementary (math 13% / reading 38%, grade F, #1,046 of 1,108 statewide, top 95%, 617 students, 98% FRL); Booker T Washington High (math 26% / reading 70%, grade D, #303 of 319 statewide, top 95%, 947 students, 94% FRL) — zoned schools average 96% FRL vs 59% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 35% 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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $140k implies a 419% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $137,900 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.21%
• DSCR: 1.72
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $305,970
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3414 Tait Ter	0.07mi	4/2.0 (+1)	1,498 (+3%)	1mo	$314,650	$210	86
2444 Ballentine Blvd	0.29mi	4/1.0 (+1)	1,424 (-2%)	2mo	$160,000	$112	72
2813 Keller Ave	0.45mi	3/2.0	1,512 (+4%)	2mo	$325,000	$215	71
2813 Ballentine Blvd	0.38mi	3/2.5	1,364 (-6%)	1mo	$306,500	$225	69
3636 Henrico St	0.71mi	3/2.0	1,500 (+3%)	2mo	$320,000	$213	61
4614 Cape Henry Ave	0.70mi	3/2.0	1,400 (-4%)	2mo	$285,000	$204	59
2329 Early St	0.68mi	3/2.0	1,564 (+7%)	2mo	$339,900	$217	54
3432 W Bonner Dr	0.67mi	4/3.0 (+1)	1,401 (-4%)	1mo	$357,000	$255	53
3217 Verdun Ave	0.72mi	3/2.0	1,584 (+9%)	1mo	$313,500	$198	51
3107 Overbrook Ave	0.52mi	4/2.0 (+1)	1,638 (+12%)	2mo	$315,000	$192	48
2311 Harrell Ave	0.54mi	4/1.0 (+1)	1,296 (-11%)	1mo	$270,000	$208	46
3220 Lens Ave	0.75mi	3/1.0	1,254 (-14%)	0mo	$257,000	$205	38

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: 7.7%
• Equity multiple: 1.30×
• Total profit: $11,948
• Equity at exit: $20,874

10-year hold

• IRR: 17.4%
• Equity multiple: 2.47×
• Total profit: $57,587
• Equity at exit: $12,105

Cash invested: $39,200 (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 23513

• Home prices YoY: -9.3%
• Rents YoY: 3.4%
• Active inventory: 132
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,977 high
• Mortgage (P&I): −$734
• Tax from tax record: −$240 /mo · $2,879/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $530

Break-even live

Break-even rent $1,307

Max offer price $140,000

Occupancy floor 68%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2721 Grandy Ave Norfolk, VA	2.0	1.0	900	$1,150	$1.28	24d	1	0.28mi
2531 Vincent Ave Norfolk, VA	3.0	2.0	1600	$2,195	$1.37	44d	1	0.34mi
2400 Ballentine Blvd Unit A Norfolk, VA	2.0	1.0	879	$1,550	$1.76	44d	1	0.38mi
1525 Nevada Ave Unit B Norfolk, VA	2.0	1.5	1134	$1,445	$1.27	44d	1	0.38mi
2815 Keller Ave Norfolk, VA	3.0	2.0	1210	$2,250	$1.86	4d	1	0.46mi
2949 Verdun Ave Norfolk, VA	3.0	2.0	950	$3,000	$3.16	44d	1	0.63mi
3640 Robin Hood Rd Norfolk, VA	4.0	2.5	1400	$2,999	$2.14	17d	1	0.65mi
1531 Spruce St Unit B Norfolk, VA	3.0	2.0	1304	$1,600	$1.23	24d	1	0.65mi
1531 Spruce St Unit B Norfolk, VA	3.0	2.0	1304	$1,600	$1.23	44d	1	0.65mi
2660 Chesapeake Blvd Norfolk, VA	3.0	2.0	1375	$2,100	$1.53	17d	1	0.69mi
3653 Nottaway St Norfolk, VA	3.0	1.5	1564	$2,200	$1.41	17d	1	0.69mi
3477 E Bonner Dr Norfolk, VA	3.0	1.0	1304	$2,000	$1.53	24d	1	0.72mi
2914 Peronne Ave Norfolk, VA	4.0	2.0	1764	$2,495	$1.41	24d	1	0.80mi
3504 Chesapeake Blvd Norfolk, VA	3.0	2.0	1624	$1,995	$1.23	24d	1	0.84mi
3504 Chesapeake Blvd Norfolk, VA	3.0	2.0	1624	$1,995	$1.23	44d	1	0.84mi
2405 Lafayette Blvd Unit A Norfolk, VA	3.0	2.0	1000	$2,200	$2.20	15d	1	0.84mi
4563 Shoshone Ct Norfolk, VA	3.0	2.0	1600	$2,500	$1.56	44d	1	0.86mi
4745 Lind St Unit A Norfolk, VA	2.0	1.0	1000	$1,600	$1.60	44d	1	0.93mi
2111 Bellevue Ave Unit 1 Norfolk, VA	2.0	1.0	950	$1,300	$1.37	44d	1	0.94mi
2412 Azalea Garden Rd Unit 105 Norfolk, VA	2.0	1.0	950	$1,325	$1.39	24d	1	0.94mi
2412 Azalea Garden Rd Apt 210 Norfolk, VA	2.0	1.0	950	$1,325	$1.39	44d	1	0.94mi
2201 Pershing Ave Norfolk, VA	3.0	2.5	1455	$2,250	$1.55	4d	1	0.99mi
2729 Somme Ave Norfolk, VA	3.0	2.5	1524	$2,295	$1.51	15d	1	1.02mi
1562 Norcova Ave Norfolk, VA	3.0	1.0	1288	$2,000	$1.55	17d	1	1.03mi
3521 Brest Ave Norfolk, VA	3.0	2.0	1234	$2,300	$1.86	44d	1	1.04mi
3301 Vimy Ridge Ave Norfolk, VA	4.0	2.0	1300	$2,150	$1.65	4d	1	1.07mi
1801 Saint Denis Ave Unit 3 Norfolk, VA	4.0	2.0	1500	$2,400	$1.60	24d	1	1.12mi
2640 Azalea Garden Rd Norfolk, VA	3.0	1.5	1100	$2,150	$1.95	4d	1	1.15mi
1801 Lasalle Ave Norfolk, VA	3.0	1.0	1102	$1,880	$1.71	44d	1	1.16mi
1714 Bellevue Ave Norfolk, VA	3.0	1.5	1500	$1,799	$1.20	44d	1	1.16mi
1403 Lead St Norfolk, VA	4.0	2.5	1854	$2,550	$1.38	44d	1	1.18mi
3541 Mangrove Ave Unit 8 Norfolk, VA	2.0	1.0	900	$1,350	$1.50	24d	1	1.18mi
2315 Bolton St Norfolk, VA	3.0	1.0	1000	$1,800	$1.80	44d	1	1.20mi
1751 Fontainebleau Cres Norfolk, VA	3.0	2.0	1231	$2,350	$1.91	44d	1	1.23mi
1439 Moultrie Ave #3 Norfolk, VA	2.0	1.0	1300	$1,900	$1.46	7d	1	1.23mi
1371 E Norcova Dr Norfolk, VA	2.0	1.0	967	$1,750	$1.81	7d	1	1.23mi
1323 W Norcova Dr Norfolk, VA	3.0	1.0	1410	$2,500	$1.77	44d	1	1.24mi
3801 Chatham Cir Unit 2 Norfolk, VA	2.0	1.0	1100	$1,350	$1.23	7d	1	1.25mi
1300 Lead St Norfolk, VA	1.0–2.0	1.0	950	$1,124	$1.18	24d	1	1.26mi
5404 Douglas St Norfolk, VA	3.0	1.0	981	$1,950	$1.99	44d	1	1.29mi

Listing history 7 events

1. 2026-06-07
   status $140,000 Under Contract 15 DOM
2. 2026-06-03
   days on market $140,000 Active 15 DOM
3. 2026-06-02
   days on market $140,000 Active 14 DOM
4. 2026-06-01
   days on market $140,000 Active 13 DOM
5. 2026-05-31
   days on market $140,000 Active 12 DOM
6. 2026-05-19
   listed $140,000 Active
7. 1974-05-06
   soldstatus $27,000

ⓘ 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: $2,879 · $240/mo
• Projected year-2 tax: $2,879 · $240/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: $23,726
• − Mortgage interest: −$7,842
• − Property taxes: −$2,879
• − Insurance: −$700
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − Depreciation: −$4,073
• Taxable income: $4,436
• Est. tax owed @ 24.0%: −$1,065
• After-tax cash flow: $5,290/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

+418.5% since first listed

2 events — show timeline

• 2026-05-19 Listed $140,000 REINMLS
• 1974-05-06 Sold (Public Records) $27,000 Public Records

Property tax history

+28.6%/yr

Latest (2024): $2,879 · +64.8% YoY. Source: county tax records.