diff --git a/src/v/storage/segment.cc b/src/v/storage/segment.cc
index cb96c14b3211..bcac7ae3d00e 100644
--- a/src/v/storage/segment.cc
+++ b/src/v/storage/segment.cc
@@ -429,7 +429,7 @@ ss::future<> segment::do_truncate(
 
 ss::future<bool> segment::materialize_index() {
     vassert(
-      _tracker.base_offset == _tracker.dirty_offset,
+      _tracker.base_offset == model::next_offset(_tracker.dirty_offset),
       "Materializing the index must happen before tracking any data. {}",
       *this);
     return _idx.materialize_index().then([this](bool yn) {
diff --git a/src/v/storage/segment.h b/src/v/storage/segment.h
index abf704288864..32b577bcce21 100644
--- a/src/v/storage/segment.h
+++ b/src/v/storage/segment.h
@@ -45,9 +45,9 @@ class segment {
         offset_tracker(model::term_id t, model::offset base)
           : term(t)
           , base_offset(base)
-          , committed_offset(base)
-          , dirty_offset(base)
-          , stable_offset(base) {}
+          , committed_offset(model::prev_offset(base))
+          , dirty_offset(model::prev_offset(base))
+          , stable_offset(model::prev_offset(base)) {}
         model::term_id term;
         model::offset base_offset;