3805 Redstone Dr · Laurel, VA 23294

$230,000

3 bd · 2.5 ba · 1,824 sqft · SingleFamily public records

Built 1998 0.31 ac lot Est $390k · 41% under

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Why this score? — see what drove the C 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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Schools +4.9/10.0
• 1% rule +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special- this home is ready to be completely renovated! Its being sold strictly AS IS and the seller has advised their preference is all cash. Must close by June 3rd, 2026.   We are having a 6 hour time to inspect the work that needs to be done. There will be no other showings other than Saturday 12-6pm ONLY.

Key facts

• 0.31 acre lot
• Garage
• Built 1998

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (2.0% below list).
• Recommended offer: $225k (2.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.5% in Laurel — 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 73/100 on livability (#181 in VA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: commute F.
• Henrico County Public School District (suburban): math 49% / reading 64% proficiency, ranked #68 of 131 in VA (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.7%/yr); 59 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,826 units permitted in Henrico County in 2024 (785 in 5+ unit buildings).
• This rent runs 42% of the median local income ($64k/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.
• Henrico County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $100k; list at $230k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% 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 $225,335 (2.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.98% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $390,336
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3805 Redstone Dr	0.00mi	3/2.5	1,824 (0%)	1mo	$230,000	$126	99
8703 Traditional Ct	0.07mi	4/2.5 (+1)	1,842 (+1%)	0mo	$435,000	$236	90
4900 Green Run Ct	0.26mi	3/2.5	1,658 (-9%)	2mo	$390,000	$235	71
3801 Monida Rd	0.13mi	4/2.5 (+1)	2,030 (+11%)	2mo	$415,000	$204	69
9107 Chumley Ln	0.44mi	3/2.0	1,794 (-2%)	12mo	$378,008	$211	65
4304 Walton Farms Dr	0.58mi	3/2.5	1,731 (-5%)	1mo	$370,000	$214	63
3906 W End Dr	0.39mi	4/2.0 (+1)	1,774 (-3%)	12mo	$380,000	$214	60
8708 Lonepine Rd	0.49mi	4/2.0 (+1)	1,774 (-3%)	9mo	$350,000	$197	58
8594 Woodlake Dr	0.43mi	3/2.5	1,628 (-11%)	12mo	$415,000	$255	52
8722 Pine Top Dr	0.60mi	3/2.5	2,000 (+10%)	6mo	$345,000	$173	51
4205 Donaldwood Dr	0.63mi	3/2.0	1,636 (-10%)	10mo	$390,000	$238	43
9529 Hungary Woods Dr	0.75mi	3/2.5	1,988 (+9%)	10mo	$475,000	$239	42

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 · 1.74% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-26,912
• Equity at exit: $34,294

10-year hold

• IRR: -4.4%
• Equity multiple: 0.73×
• Total profit: $-17,684
• Equity at exit: $19,886

Cash invested: $64,400 (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 23294

• Rents YoY: 1.7%
• Active inventory: 59
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,253 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$272 /mo · $3,259/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $207

Break-even live

Break-even rent $1,992

Max offer price $230,000

Occupancy floor 86%

Sensitivity live

Price	-10% $337	-5% $272	+0% $207	+5% $141	+10% $76
Rent	-10% $29	-5% $118	+0% $207	+5% $296	+10% $385
Rate	-1.0pp $322	-0.5pp $265	base $207	+0.5pp $147	+1.0pp $86

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7812 Coachford Ct Henrico, VA	2.0	2.5	1228	$1,750	$1.43	18d	1	0.32mi
9114 Prestondale Ave Henrico, VA	4.0	2.0	1540	$2,430	$1.58	24d	1	0.73mi
3207 Dancer Rd Henrico, VA	3.0	1.0	1429	$2,100	$1.47	44d	1	0.75mi
5618 Eunice Dr Henrico, VA	1.0–3.0	1.0–2.5	975	$2,110	$2.16	2d	86	0.80mi
5504 Millstream Ln Henrico, VA	3.0	2.5	1280	$1,825	$1.43	12d	1	0.82mi
5506 Springwater Ln Henrico, VA	3.0	2.5	1376	$2,300	$1.67	3d	1	0.84mi
5504 Springwater Ln Henrico, VA	3.0	2.5	1440	$2,200	$1.53	3d	1	0.84mi
8722 Springwater Dr Henrico, VA	3.0	3.5	2172	$2,350	$1.08	15d	1	0.85mi
8651 Millstream Dr Henrico, VA	3.0	2.5	1280	$2,095	$1.64	3d	1	0.90mi
9318 Tarheel Ter Henrico, VA	1.0–3.0	1.0–2.0	965	$2,049	$2.12	3d	6	1.03mi
9015 Covewood Rd Glen Allen, VA	4.0	2.5	1728	$2,550	$1.48	24d	1	1.19mi
8800 Queensmere Pl Richmond, VA	1.0–3.0	1.0–2.0	1068	$2,513	$2.35	2d	55	1.19mi
4 Skipwith Green Cir Henrico, VA	4.0	3.0	1870	$2,450	$1.31	24d	1	1.29mi
8001 Lake Laurel LN Unit B Glen Allen, VA	3.0	2.5	2617	$3,900	$1.49	44d	1	1.30mi
3513 Bartley Pond Ct Unit 1 Richmond, VA	4.0	4.0	2004	$2,450	$1.22	3d	1	1.41mi
4724 Cardinal Rd Henrico, VA	1.0–3.0	1.0–2.0	1100	$2,025	$1.84	2d	46	1.42mi
9721 Pemberton Crossing Dr Henrico, VA	3.0	3.0	2096	$3,599	$1.72	24d	1	1.43mi
10113 Laurel Lakes Dr Glen Allen, VA	4.0	2.5	2236	$1,900	$0.85	44d	1	1.46mi

Listing history 3 events

1. 2026-05-07
   listed $230,000
2. 2026-05-07
   historical
3. 1998-02-01
   soldstatus $100,500

ⓘ 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: $3,259 · $272/mo
• Projected year-2 tax: $3,259 · $272/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 7/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,040
• − Mortgage interest: −$12,884
• − Property taxes: −$3,259
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,163
• − Management: −$2,163
• − Depreciation: −$6,691
• Taxable loss: −$1,270
• Est. tax savings @ 24.0%: +$305
• After-tax cash flow: $2,783/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: Henrico County Public School District
• NCES district ID: 5101890
• Math proficiency: 49% ▼ -32.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $61,854
• Composite: 49.25/100
• National rank: #2031
• State rank: #68 of 131 in VA

Livability — Laurel

• Score: 73/100
• State rank: #181
• US rank: #5541

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henrico County · 334,490 people
• City population: 36,435
• Metro: Richmond, VA
• Population (ZIP): 20,216
• Household income: $64,164
• Rent vs Own: 64.3% rent · 35.7% own
• Severe rent burden: 1177.0

Population outlook (Henrico County) Hauer SSP2

• Today (2025): 365,885 people
• By 2030: 384,255 · +5.0%
• By 2040: 416,688 · +13.9%
• By 2050: 442,376 · +20.9%
• By 2075: 488,037 · +33.4%
• By 2100: 487,430 · +33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 45% Black 19% Asian 18% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Estonian 2% Serbian 2% Slovak 1%
• Foreign-born: 24% · Canada, Vietnam, China
• Languages at home: 73% English-only · Spanish 8% Other Indo-European 6% Other Asian/Pacific 6%

Political lean MEDSL · Henrico

• 2024 margin: Strong D (+28.9) · D 63.7% · R 34.8% · Other 1.5%
• 2008→2024 swing: +16.6pp toward D · 2008: 12.2pp · 2024: 28.9pp
• All cycles: 2024: D+28.9 2020: D+29.0 2016: D+21.0 2012: D+11.7 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -297.76%
• Current HPI: 294.1935
• Rent YoY: ▲ 1.74%
• Metro: Richmond, VA
• 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

+128.9% since first listed

3 events — show timeline

• 2026-05-07 Listing Removed — CVRMLS
• 2026-05-07 Listed $230,000 CVRMLS
• 1998-02-01 Sold (Public Records) $100,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $3,259 · +3.4% YoY. Source: county tax records.