27409 Blueberry Dr · Cape Charles, VA 23310

$165,000

3 bd · 1.5 ba · 1,174 sqft · SingleFamily public records · 12 Days on market

Built 1948 0.27 ac lot ↓ 28% since listing

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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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Schools +4.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Two Homes, One Unique Opportunity! This rare property features two separate homes situated on one tax parcel, each with its own 911 address. Offering endless possibilities for investors, multi-generational living, rental income, or renovation enthusiasts, this property is ready for your vision and creativity. Both homes are being sold strictly as-is, where-is. Conveniently located approximately 3 miles from Kiptopeke State Park, about 10 miles from the charming waterfront town of Cape Charles, and approximately 30 minutes from Virginia Beach via the Chesapeake Bay Bridge-Tunnel. Enjoy easy access to beaches, boating, fishing, nature trails, dining, shopping, and all the attractions Virginia

Key facts

• Two separate homes
• one tax parcel
• Rental income

Tags

• TWO SEPARATE HOMES
• ONE TAX PARCEL
• MULTI-GENERATIONAL LIVING
• RENTAL INCOME
• CONVENIENTLY LOCATED
• EASY ACCESS TO BEACHES

Property features AI

Exterior

• Parking: Attached garage (1 covered space, 1 total garage space)
• Utilities: Well water; Septic tank
• Home design: Single family residence; Two levels; Residential zoning
• Construction: Vinyl siding; Composition roof; Block foundation; Built with traditional residential construction
• Exterior features: Front porch; Storm door(s); Shed on property; Paved road access

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Floor furnace heating; Space heater; Oil heating; Has heating; Has cooling
• Interior features: Hardwood floors; Electric water heater; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.7% vs local median 1.2% in Cape Charles — 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 61/100 on livability (#420 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+; Watch: employment C-, housing C-, cost of living D+.
• Northampton County Public School District (rural): math 36% / reading 62% proficiency, ranked #103 of 131 in VA (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kiptopeke Elementary (math 27% / reading 52%, grade F, #900 of 1,108 statewide, top 83%, 351 students, 100% FRL); Northampton Middle (math 37% / reading 67%, grade C+, #218 of 342 statewide, top 65%, 206 students, 99% FRL); Northampton High (math 47% / reading 77%, grade B-, #231 of 319 statewide, top 75%, 433 students, 100% FRL) — zoned schools average 99% FRL vs 68% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 339 active listings in the ZIP; 164 units permitted in Northampton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Northampton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1948 — 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. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.56%
• DSCR: 1.38
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $332,242
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27151 Castle Row	0.49mi	3/2.0	1,149 (-2%)	5mo	$325,000	$283	67

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.87×
• Total profit: $-5,785
• Equity at exit: $24,602

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $21,828
• Equity at exit: $14,266

Cash invested: $46,200 (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 23310

• Active inventory: 339
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,722 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$97 /mo · $1,162/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $330

Break-even live

Break-even rent $1,305

Max offer price $165,000

Occupancy floor 76%

Sensitivity live

Price	-10% $423	-5% $376	+0% $330	+5% $283	+10% $236
Rent	-10% $194	-5% $262	+0% $330	+5% $398	+10% $466
Rate	-1.0pp $413	-0.5pp $372	base $330	+0.5pp $287	+1.0pp $243

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $165,000 Active 12 DOM
2. 2026-06-19
   days on market $165,000 Active 10 DOM
3. 2026-06-18
   days on market $165,000 Active 9 DOM
4. 2026-06-17
   days on market $165,000 Active 8 DOM
5. 2026-06-16
   days on market $165,000 Active 7 DOM
6. 2026-06-15
   days on market $165,000 Active 6 DOM
7. 2026-06-14
   days on market $165,000 Active 4 DOM
8. 2026-06-12
   remarks 699-char remark
9. 2026-06-12
   listed $165,000 Active 3 DOM

ⓘ 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: $1,162 · $97/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$191/yr (+$16/mo · 16.5%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,665
• − Mortgage interest: −$9,243
• − Property taxes: −$1,162
• − Insurance: −$825
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$4,800
• Taxable income: $1,329
• Est. tax owed @ 24.0%: −$319
• After-tax cash flow: $3,636/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: Northampton County Public School District
• NCES district ID: 5102710
• Math proficiency: 36% ▼ -33.00%
• Reading proficiency: 62% ▼ -3.00%
• Median HH income: $37,253
• Composite: 40.63/100
• National rank: #3687
• State rank: #103 of 131 in VA

Livability — Cape Charles

• Score: 61/100
• State rank: #420
• US rank: #18001

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,934

Population outlook (Northampton County) Hauer SSP2

• Today (2025): 11,360 people
• By 2030: 10,838 · -4.6%
• By 2040: 9,696 · -14.6%
• By 2050: 8,764 · -22.9%
• By 2075: 6,885 · -39.4%
• By 2100: 4,891 · -56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Northampton

• 2024 margin: Lean D (+6.2) · D 52.7% · R 46.6%
• 2008→2024 swing: -10.4pp toward R · 2008: 16.5pp · 2024: 6.2pp
• All cycles: 2024: D+6.2 2020: D+10.6 2016: D+9.3 2012: D+16.4 2008: D+16.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -180.64%
• Current HPI: 282.274
• Rent YoY: —
• Metro: —
• 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

-28.3% since first listed

7 events — show timeline

• 2026-06-10 Listed $165,000 ESAR
• 2025-06-24 Price Changed $175,000 ESAR
• 2025-03-17 Price Changed $198,999 ESAR
• 2025-02-20 Listed $230,000 ESAR
• 2025-02-07 Listing Removed — REINMLS
• 2024-09-10 Listed $230,000 ESAR
• 2024-09-09 Listed $230,000 REINMLS

Property tax history

+5.3%/yr

Latest (2025): $1,162 · +2.9% YoY. Source: county tax records.