4082 Concordia Way · Virginia Beach, VA 23453

$274,900

3 bd · 1.5 ba · 1,202 sqft · Townhouse public records · 21 Days on market

Built 1982 Est $269k · at est. $45/mo HOA · 2% of rent

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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
• ARV discount +6.6/15.0
• Schools +6.4/10.0
• Rent growth +4.9/5.0
• Livability +4.2/5.0
• DSCR +3.2/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This centrally located 3 bedroom end-unit townhouse has been thoughtfully upgraded throughout with a beautifully updated kitchen with granite countertops and stainless steel appliances, bathrooms with sleek modern fixtures and a large living area with fireplace and rich dark LVP flooring adding warmth and elegance. Enjoy indoor-outdoor living with charming French doors that open to a fenced backyard—ideal for relaxing, gardening, or hosting gatherings. As an end unit, you’ll appreciate the added privacy and extra natural light. Move-in ready and ideally situated near shopping, dining, and major routes—this is one you won’t want to miss!

Key facts

• Large living area
• Updated kitchen
• Granite countertops

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• MODERN FIXTURES
• LARGE LIVING AREA
• FIREPLACE

Property features AI

Finance

• HOA & community: Part of Green Run Homeowners Association; HOA fee: $45 monthly; Community pool

Exterior

• Parking: Off-street parking; Driveway space
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Attached townhouse; 2 stories; 2 living levels; Slab foundation; Simple ownership
• Construction: Asphalt shingle roof
• Exterior features: Patio; Vinyl siding; Back yard fully fenced with privacy fencing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: No bedroom and full bathroom on first floor; Total rooms: 6
• Flooring: Carpet; Ceramic; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Ceiling fan; Wood fireplace; Window treatments; Assigned storage; Breakfast area; Utility closet
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $275k.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (22.7% below list).
• Recommended offer: $212k (22.7% 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: Parkway Elementary (math 37% / reading 52%, grade F, #827 of 1,108 statewide, top 77%, 469 students, 98% FRL); Larkspur Middle (math 60% / reading 72%, grade A-, #113 of 342 statewide, top 33%, 1,536 students, 60% FRL); Green Run High (math 64% / reading 69%, grade B, #195 of 319 statewide, top 62%, 1,517 students, 69% FRL) — zoned schools average 76% FRL vs 28% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 59% at this address vs 74% district-wide (-14 pts) — the specific schools serving this property underperform the Va Beach City Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+9.7%/yr); 103 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 21 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $203k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% 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 $212,388 (22.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.77% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.74%
• DSCR: 0.92
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $269,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4082 Concordia Way	0.00mi	3/1.5	1,202 (0%)	1mo	$275,000	$229	99
3614 Windmill Dr	0.39mi	3/1.5	1,146 (-5%)	3mo	$240,000	$209	72
1320 Pershing Ct	0.55mi	3/2.0	1,210 (+1%)	3mo	$279,000	$231	69
3640 Sylvan Ct	0.70mi	3/1.5	1,158 (-4%)	4mo	$259,900	$224	58
3658 Sylvan Ct	0.73mi	3/1.5	1,158 (-4%)	4mo	$243,000	$210	57
1315 Ivywood Rd	0.60mi	2/2.0 (-1)	1,162 (-3%)	4mo	$230,000	$198	56
1379 Ivywood Rd	0.66mi	2/2.0 (-1)	1,162 (-3%)	1mo	$225,000	$194	56
807 Foxmoore Ct	0.52mi	2/2.5 (-1)	1,125 (-6%)	2mo	$260,000	$231	54
1509 Penrose Arch Unit 14E	0.68mi	2/2.0 (-1)	1,165 (-3%)	2mo	$225,000	$193	54
808 Federal Ct	0.54mi	2/2.5 (-1)	1,124 (-6%)	1mo	$265,000	$236	54
1419 Ivywood Rd	0.71mi	2/2.0 (-1)	1,162 (-3%)	4mo	$229,900	$198	51
809 Christa Ct	0.63mi	2/2.5 (-1)	1,124 (-6%)	2mo	$260,000	$231	50

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: -14.1%
• Equity multiple: 0.47×
• Total profit: $-40,461
• Equity at exit: $40,988

10-year hold

• IRR: 1.0%
• Equity multiple: 1.09×
• Total profit: $6,560
• Equity at exit: $23,768

Cash invested: $76,972 (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: 103
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$188 /mo · $2,259/yr
• Insurance: −$115
• HOA: −$45
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-112

Break-even live

Break-even rent $2,265

Max offer price $255,195

Occupancy floor —

Sensitivity live

Price	-10% $44	-5% $-34	+0% $-112	+5% $-189	+10% $-267
Rent	-10% $-279	-5% $-195	+0% $-112	+5% $-28	+10% $56
Rate	-1.0pp $27	-0.5pp $-42	base $-112	+0.5pp $-183	+1.0pp $-255

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3596 Windmill Dr Virginia Beach, VA	2.0	1.5	1088	$1,850	$1.70	0d	1	0.34mi
3560 Windmill Dr Virginia Beach, VA	3.0	1.5	1080	$2,000	$1.85	0d	1	0.37mi
3638 Windmill Dr Virginia Beach, VA	2.0	1.0	934	$1,695	$1.81	13d	1	0.41mi
846 Crashaw St Virginia Beach, VA	2.0	2.0	1346	$1,895	$1.41	17d	1	0.53mi
807 Foxmoore Ct Virginia Beach, VA	2.0	2.5	1125	$2,000	$1.78	5d	1	0.54mi
3528 Dublin Ct Virginia Beach, VA	2.0	1.0	752	$1,700	$2.26	14d	1	0.65mi
1012 Grassland Ct Virginia Beach, VA	3.0	2.0	1021	$2,050	$2.01	26d	1	0.72mi
1523 Penrose Arch Virginia Beach, VA	2.0	2.0	1126	$1,550	$1.38	6d	1	0.72mi
3500 Irvington Ct Virginia Beach, VA	2.0	2.0	999	$2,000	$2.00	26d	1	0.73mi
3816 Banyan Grove Ln Virginia Beach, VA	1.0–3.0	1.0–2.0	1021	$3,082	$3.02	0d	17	0.73mi
1401 Wendfield Dr #103 Virginia Beach, VA	3.0	1.5	1344	$1,850	$1.38	22d	1	0.74mi
724 Harbor Springs Trl Virginia Beach, VA	2.0	2.0	1200	$1,795	$1.50	14d	1	0.75mi
3849 Clarendon Way Unit 1 Virginia Beach, VA	2.0	2.5	1349	$2,200	$1.63	14d	1	0.78mi
3700 Snowdrift Cir Virginia Beach, VA	1.0–3.0	1.0–2.0	887	$2,599	$2.93	26d	1	0.79mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	26d	1	0.79mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	6d	1	0.79mi
1404 Wendfield Dr Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	6d	1	0.79mi
1728 Vankar Dr #104 Virginia Beach, VA	2.0	2.0	1293	$2,495	$1.93	10d	1	0.79mi
1728 Vankar Dr #307 Virginia Beach, VA	2.0	2.0	1316	$2,500	$1.90	19d	1	0.79mi
1400 Dewitt Way Virginia Beach, VA	2.0–3.0	2.0–2.5	1212	$2,225	$1.84	26d	1	0.84mi
3521 Sierra Arch Virginia Beach, VA	3.0	1.5	1420	$1,650	$1.16	26d	1	0.86mi
4156 Clarendon Way Virginia Beach, VA	2.0	2.5	1329	$2,400	$1.81	26d	1	0.86mi
4425 Duffy Dr Virginia Beach, VA	2.0	2.5	1388	$2,050	$1.48	14d	1	0.89mi
1752 Halesworth Ln Virginia Beach, VA	2.0	2.5	1324	$2,190	$1.65	26d	1	0.90mi
1752 Halesworth Ln Unit 1 Virginia Beach, VA	2.0	2.5	1329	$2,200	$1.66	26d	1	0.90mi
713 Willow Lake Cir Virginia Beach, VA	1.0–2.0	1.0–2.0	1041	$2,475	$2.38	26d	1	0.95mi
4581 Duffy Dr Virginia Beach, VA	2.0	2.5	1388	$2,100	$1.51	23d	1	0.95mi
3702 Canadian Arch Virginia Beach, VA	2.0	1.5	1100	$1,700	$1.55	6d	1	1.04mi
3517 Plum Cres Virginia Beach, VA	3.0	2.0	1450	$2,200	$1.52	14d	1	1.04mi
3829 Shooting Star Dr Virginia Beach, VA	4.0	1.5	1296	$2,950	$2.28	17d	1	1.09mi
3745 Edenberry Ct Virginia Beach, VA	2.0	2.0	1044	$1,899	$1.82	6d	1	1.09mi
1434 Peony Arch Virginia Beach, VA	3.0	2.0	1407	$2,600	$1.85	26d	1	1.11mi
3500 Green Garden Cir Virginia Beach, VA	2.0	1.0	980	$1,685	$1.72	26d	1	1.11mi
4016 Richard Lee Ct Virginia Beach, VA	3.0	1.5	1470	$2,100	$1.43	4d	1	1.15mi
629 Counselor Sq Virginia Beach, VA	3.0	1.5	1326	$1,995	$1.50	26d	1	1.16mi
640 Counselor Sq Virginia Beach, VA	3.0	1.5	1320	$2,000	$1.52	17d	1	1.16mi
726 Hayes Ave Virginia Beach, VA	2.0	1.5	1008	$1,700	$1.69	26d	1	1.16mi
621 Chancery Sq Virginia Beach, VA	3.0	1.0	1320	$1,970	$1.49	19d	1	1.17mi
1785 River Rock Arch Virginia Beach, VA	3.0	2.0	1438	$2,350	$1.63	17d	1	1.19mi
3923 Lake Front Cir Virginia Beach, VA	1.0–2.0	1.0	918	$1,845	$2.01	13d	1	1.21mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 10 events

1. 2026-05-14
   status Under Contract
2. 2026-04-28
   historical Active Under Contract
3. 2026-04-23
   listed $274,900 Active
4. 2024-02-23
   historical $1,650
5. 2024-02-20
   listed $1,650
6. 2022-02-28
   soldstatus $203,000
7. 2022-02-16
   status Under Contract
8. 2022-01-17
   historical Active Under Contract
9. 2022-01-14
   listed $195,000 Active
10. 2015-02-28
    price $149,900

ⓘ 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: $2,259 · $188/mo
• Projected year-2 tax: $2,259 · $188/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 ≥104°F today · 16 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: $25,487
• − Mortgage interest: −$15,399
• − Property taxes: −$2,259
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − HOA: −$540
• − Depreciation: −$7,997
• Taxable loss: −$6,161
• Est. tax savings @ 24.0%: +$1,479
• After-tax cash flow: $140/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

+83.4% since first listed

10 events — show timeline

• 2026-05-14 Pending — REINMLS
• 2026-04-28 Contingent — REINMLS
• 2026-04-23 Listed $274,900 REINMLS
• 2024-02-23 Rental Removed $1,650 REINMLS
• 2024-02-20 Listed for Rent $1,650 REINMLS
• 2022-02-28 Sold (Public Records) $203,000 Public Records
• 2022-02-16 Pending — REINMLS
• 2022-01-17 Contingent — REINMLS
• 2022-01-14 Listed $195,000 REINMLS
• 2015-02-28 Price Changed $149,900 REINMLS

Property tax history

+4.7%/yr

Latest (2025): $2,259 · +3.6% YoY. Source: county tax records.