3234 Creekside Dr · Virginia Beach, VA 23453

$260,000

2 bd · 1.5 ba · 1,084 sqft · Townhouse public records · 27 Days on market

Built 1985 Est $247k · 5% over

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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 +11.1/30.0
• Schools +6.4/10.0
• ARV discount +5.2/15.0
• Rent growth +4.9/5.0
• Livability +4.2/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into this thoughtfully renovated townhome featuring sleek upgrades and a functional layout. From the updated kitchen to the refreshed living areas, every detail has been designed for comfort and ease. A perfect opportunity for stylish, low-maintenance living.

Key facts

• 2 parking spots
• Built 1985
• Listed 27 days

Property features AI

Finance

• HOA & community: No HOA/association fees

Exterior

• Parking: Driveway parking for 2 spaces
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; 2 stories; Slab foundation; Simple ownership
• Construction: Asphalt shingle roof
• Exterior features: Shingle siding; Back yard fenced

Interior

• Kitchen: Electric range; Refrigerator; Breakfast area
• Bedrooms: First-floor master bedroom; Bedroom and full bathroom on first floor
• Flooring: Ceramic flooring; Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced hot air heating (electric); Central air conditioning
• Interior features: Cathedral ceiling; Electric fireplace; Skylights; Walk-in closet; One fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $260k.

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (25.6% below list).
• Recommended offer: $193k (25.6% 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: Holland Elementary (math 57% / reading 67%, grade B, #480 of 1,108 statewide, top 46%, 460 students, 95% FRL); Corporate Landing Middle (math 66% / reading 77%, grade A, #72 of 342 statewide, top 22%, 1,054 students, 46% FRL); Landstown High (math 67% / reading 86%, grade A-, #99 of 319 statewide, top 31%, 2,226 students, 38% FRL) — zoned schools average 60% FRL vs 28% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.7%/yr); 104 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• It's been on market 27 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.
• Current owner paid $142k; list at $260k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,446 (25.6% 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. 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. 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?
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: 0.74% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.70%
• DSCR: 0.92
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $247,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3234 Creekside Dr	0.00mi	2/2.0	1,080 (-0%)	1mo	$260,000	$241	97
1137 Old Clubhouse Rd	0.08mi	2/1.5	1,124 (+4%)	3mo	$220,000	$196	88
1076 Old Clubhouse Rd	0.42mi	2/2.0	1,084 (0%)	6mo	$262,000	$242	74
3209 Chesterton Ct	0.17mi	3/1.5 (+1)	1,178 (+9%)	3mo	$249,000	$211	70
880 Riverbend Rd	0.60mi	2/1.5	1,064 (-2%)	2mo	$257,000	$242	68
947 Fern Ridge Rd	0.24mi	3/1.0 (+1)	1,157 (+7%)	6mo	$280,000	$242	66
3203 Dunnebrook Ct	0.16mi	3/1.5 (+1)	1,210 (+12%)	5mo	$255,400	$211	64
1140 Old Clubhouse Rd	0.26mi	3/1.5 (+1)	1,178 (+9%)	6mo	$268,000	$228	64
1201 Green Cedar Ln	0.53mi	3/1.5 (+1)	1,160 (+7%)	8mo	$260,000	$224	52
3309 Ashaway Rd	0.59mi	3/2.0 (+1)	1,200 (+11%)	6mo	$340,000	$283	42
952 Smoke Tree Ln	0.69mi	2/2.5	1,196 (+10%)	10mo	$252,000	$211	38
987 Smoke Tree Ln	0.74mi	2/2.5	1,196 (+10%)	9mo	$242,000	$202	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.47×
• Total profit: $-38,540
• Equity at exit: $38,767

10-year hold

• IRR: 0.7%
• Equity multiple: 1.06×
• Total profit: $4,230
• Equity at exit: $22,480

Cash invested: $72,800 (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 23453

• Home prices YoY: -13.4%
• Rents YoY: 9.7%
• Active inventory: 104
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,934 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$159 /mo · $1,913/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $-103

Break-even live

Break-even rent $2,065

Max offer price $241,808

Occupancy floor —

Sensitivity live

Price	-10% $44	-5% $-29	+0% $-103	+5% $-177	+10% $-250
Rent	-10% $-256	-5% $-179	+0% $-103	+5% $-27	+10% $50
Rate	-1.0pp $28	-0.5pp $-37	base $-103	+0.5pp $-170	+1.0pp $-239

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
932 Gossman Dr Virginia Beach, VA	3.0	1.5	1430	$2,300	$1.61	23d	1	0.27mi
1232 White Birch Ln Virginia Beach, VA	3.0	2.0	1254	$2,095	$1.67	25d	1	0.51mi
3304 Weeping Willow Ln Virginia Beach, VA	3.0	1.5	1254	$1,750	$1.40	25d	1	0.51mi
1240 White Birch Ln Virginia Beach, VA	3.0	1.5	1254	$1,950	$1.56	19d	1	0.52mi
2925 Theodorus Ct Virginia Beach, VA	3.0	1.5	1120	$2,000	$1.79	6d	1	0.57mi
1027 Tivoli Cres Virginia Beach, VA	1.0–2.0	1.0	787	$1,573	$2.00	25d	1	0.57mi
1257 Green Cedar Ln Virginia Beach, VA	2.0	1.5	950	$1,725	$1.82	9d	1	0.63mi
3500 Green Garden Cir Virginia Beach, VA	2.0	1.0	980	$1,685	$1.72	25d	1	0.77mi
1301 Pine Cone Cir Virginia Beach, VA	1.0–3.0	1.0–2.0	827	$1,874	$2.26	3d	13	0.80mi
3745 Edenberry Ct Virginia Beach, VA	2.0	2.0	1044	$1,899	$1.82	6d	1	0.85mi
3745 Edenberry Ct Virginia Beach, VA	1.0	1.0	920	$1,699	$1.85	3d	1	0.85mi
3517 Plum Cres Virginia Beach, VA	3.0	2.0	1450	$2,200	$1.52	14d	1	0.87mi
3416 Hollygreen Dr Virginia Beach, VA	2.0	1.0	960	$1,754	$1.83	25d	5	0.97mi
713 Willow Lake Cir Virginia Beach, VA	1.0–2.0	1.0–2.0	1041	$2,475	$2.38	25d	1	1.06mi
1434 Peony Arch Virginia Beach, VA	3.0	2.0	1407	$2,600	$1.85	25d	1	1.11mi
3521 Sierra Arch Virginia Beach, VA	3.0	1.5	1420	$1,650	$1.16	25d	1	1.15mi
1404 Wendfield Dr Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	5d	1	1.28mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	25d	1	1.29mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	6d	1	1.29mi
717 Grant Ave Virginia Beach, VA	3.0	2.5	1248	$2,160	$1.73	25d	1	1.32mi
1401 Wendfield Dr #103 Virginia Beach, VA	3.0	1.5	1344	$1,850	$1.38	22d	1	1.33mi
726 Hayes Ave Virginia Beach, VA	2.0	1.5	1008	$1,700	$1.69	25d	1	1.38mi
3638 Windmill Dr Virginia Beach, VA	2.0	1.0	934	$1,695	$1.81	12d	1	1.41mi
3560 Windmill Dr Virginia Beach, VA	3.0	1.5	1080	$2,100	$1.94	25d	1	1.41mi

Listing history 13 events

1. 2026-05-14
   status Under Contract
2. 2026-05-03
   historical Active Under Contract
3. 2026-05-03
   status Active
4. 2026-04-27
   historical Active Under Contract
5. 2026-04-17
   listed $260,000 Active
6. 2026-03-24
   soldstatus $142,233
7. 2018-09-06
   soldstatus $132,000
8. 2018-08-03
   status Under Contract
9. 2018-06-21
   listed $129,900 Active
10. 2015-04-13
    price $126,900
11. 2015-03-05
    price $126,900
12. 2006-04-20
    soldstatus $132,500
13. 2001-11-19
    soldstatus $90,000

ⓘ 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: $1,913 · $159/mo
• Projected year-2 tax: $2,132 · $178/mo
• Expected delta: +$219/yr (+$18/mo · 11.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 10% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,214
• − Mortgage interest: −$14,564
• − Property taxes: −$1,913
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$7,564
• Taxable loss: −$5,841
• Est. tax savings @ 24.0%: +$1,402
• After-tax cash flow: $166/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): 34,482
• Household income: $93,838
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 799.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 46% Black 22% Two or more races 14% Asian 12% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 2% Romanian 2% Italian 1%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 84% English-only · Tagalog/Filipino 6% Spanish 5% Other Indo-European 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: ▼ -52.96%
• Current HPI: 341.8757
• Rent YoY: ▲ 9.69%
• 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

+188.9% since first listed

13 events — show timeline

• 2026-05-14 Pending — REINMLS
• 2026-05-03 Contingent — REINMLS
• 2026-05-03 Relisted — REINMLS
• 2026-04-27 Contingent — REINMLS
• 2026-04-17 Listed $260,000 REINMLS
• 2026-03-24 Sold (Public Records) $142,233 Public Records
• 2018-09-06 Sold (Public Records) $132,000 Public Records
• 2018-08-03 Pending — REINMLS
• 2018-06-21 Listed $129,900 REINMLS
• 2015-04-13 Price Changed $126,900 REINMLS
• 2015-03-05 Price Changed $126,900 REINMLS
• 2006-04-20 Sold (Public Records) $132,500 Public Records
• 2001-11-19 Sold (Public Records) $90,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,913 · +6.2% YoY. Source: county tax records.