3208 Clover Rd E · Chesapeake, VA 23321

$202,000

2 bd · 2.0 ba · 1,020 sqft · Townhouse public records · 3 Days on market

Built 1984 Est $165k · 22% 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 +14.7/30.0
• Schools +5.8/10.0
• DSCR +4.5/10.0
• Rent growth +4.4/5.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with serious upside potential! This spacious property at 3208 Clover Street in Chesapeake offers a great opportunity to customize a home to their taste. Featuring a functional layout and solid potential, this property sits on a generously sized lot with room to enhance curb appeal and value. Conveniently located near shopping, dining, schools, and major interstates for an easy commute. Whether you’re looking for your next renovation project, rental investment, or affordable home with equity potential, this property is full of possibilities. Property sold as-is. HUD Case# 544-329603 IN (Insured). Seller makes no representations or warranties as to property condition. H

Key facts

• Generously sized lot
• Easy commute
• Rental investment

Tags

• GENEROUSLY SIZED LOT
• CONVENIENTLY LOCATED
• EASY COMMUTE
• RENTAL INVESTMENT

Property features AI

Finance

• Other: Property listed as fixer upper
• HOA & community: No HOA or association fees

Exterior

• Parking: Driveway parking; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Attached townhouse; 2 stories; Stepless entrance; Simple ownership
• Construction: Shingle and vinyl siding; Asphalt shingle roof; Slab foundation
• Exterior features: Back fenced yard; Has fence

Interior

• Kitchen: Dishwasher; Microwave; Electric range
• Bedrooms: No bedroom with full bathroom on first floor; 4 rooms total (includes living spaces and bedrooms)
• Flooring: Concrete flooring; Vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Electric fireplace; One fireplace total
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $202k.

Deal economics

• At list price, monthly cash flow is $52 ($618/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 $172k (14.8% below list).
• Recommended offer: $172k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.7% in Chesapeake — 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 70/100 on livability (#236 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, cost of living C-, amenities F.
• Chesapeake City Public School District (suburban): math 58% / reading 74% proficiency, ranked #31 of 131 in VA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Western Branch Primary (813 students, 41% FRL); Western Branch Middle (math 53% / reading 78%, grade A-, #116 of 342 statewide, top 35%, 887 students, 37% FRL); Western Branch High (math 71% / reading 84%, grade A-, #83 of 319 statewide, top 28%, 2,121 students, 37% FRL).
• Market conditions: Rents rising fast (+7.6%/yr); 234 active listings in the ZIP; 20 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; 597 units permitted in Chesapeake city 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 $6k of value loss. Plan a longer hold.
• Chesapeake County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $166k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $172,138 (14.8% 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. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.09%
• DSCR: 1.05
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $165,240
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3606 Clover Meadows Dr	0.26mi	2/2.0	960 (-6%)	3mo	$160,000	$167	76
3502 Clover Meadows Dr	0.31mi	2/2.0	960 (-6%)	1mo	$140,000	$146	75
3615 Clover Meadows Dr	0.24mi	2/2.0	960 (-6%)	11mo	$140,000	$146	69
3622 Cinnamon Ct	0.32mi	2/2.0	1,116 (+9%)	11mo	$195,000	$175	60
3501 Sugar Run	0.46mi	2/2.0	1,098 (+8%)	9mo	$170,000	$155	58
3603 Clover Meadows Dr	0.23mi	2/1.0	897 (-12%)	9mo	$145,000	$162	58

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 · 7.59% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.63×
• Total profit: $-21,161
• Equity at exit: $30,119

10-year hold

• IRR: 4.7%
• Equity multiple: 1.41×
• Total profit: $23,216
• Equity at exit: $17,465

Cash invested: $56,560 (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 23321

• Rents YoY: 7.6%
• Active inventory: 234
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$1,059
• Tax from tax record: −$165 /mo · $1,979/yr
• Insurance: −$84
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $52

Break-even live

Break-even rent $1,656

Max offer price $202,000

Occupancy floor 92%

Sensitivity live

Price	-10% $166	-5% $109	+0% $52	+5% $-6	+10% $-63
Rent	-10% $-84	-5% $-16	+0% $52	+5% $120	+10% $188
Rate	-1.0pp $153	-0.5pp $103	base $52	+0.5pp $-1	+1.0pp $-54

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: $50,500
• Closing costs: $6,060
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3331 Golden Oaks Ln Chesapeake, VA	2.0	3.0	1294	$2,150	$1.66	6d	1	0.00mi
3240 Clover Rd E Chesapeake, VA	2.0	1.5	1020	$1,600	$1.57	6d	1	0.06mi
3301 Clover Meadows Dr Chesapeake, VA	2.0	1.0	851	$1,500	$1.76	23d	1	0.15mi
3327 Clover Meadows Dr Chesapeake, VA	2.0	2.0	960	$1,550	$1.61	25d	1	0.17mi
3468 Clover Meadows Dr Chesapeake, VA	2.0	2.0	960	$1,400	$1.46	19d	1	0.26mi
3555 Clover Meadows Dr Chesapeake, VA	2.0	1.0	897	$1,500	$1.67	14d	1	0.27mi
4271 Taylor Rd Chesapeake, VA	2.0	1.0	794	$1,484	$1.87	25d	1	0.32mi
3701 Radford Cir Chesapeake, VA	2.0	1.5	1262	$2,000	$1.58	25d	1	0.46mi
1001 Beringer Rd Suffolk, VA	1.0	1.0	765	$1,829	$2.39	25d	1	1.09mi
901 Beringer Rd Suffolk, VA	1.0	1.0	840	$1,679	$2.00	25d	1	1.18mi
5916 Vernon Dr Suffolk, VA	3.0	1.5	1142	$1,850	$1.62	25d	1	1.27mi
3640 Towne Point Rd Portsmouth, VA	3.0	2.5	1500	$2,355	$1.57	25d	1	1.32mi
6024 Bradford Dr Suffolk, VA	3.0	2.0	1064	$1,500	$1.41	21d	1	1.34mi
3772 Pepperwood Ct Portsmouth, VA	2.0	1.5	915	$1,450	$1.58	45d	1	1.37mi
5048 Queen St Chesapeake, VA	3.0	2.0	1040	$2,195	$2.11	19d	1	1.37mi
4605 Hardy Ct Suffolk, VA	2.0	2.0	1087	$1,600	$1.47	45d	1	1.38mi
4613 Hardy Ct Unit B Suffolk, VA	3.0	1.5	1140	$1,550	$1.36	45d	1	1.39mi
5109 James St Chesapeake, VA	3.0	1.5	1128	$2,200	$1.95	45d	1	1.41mi
2019 Barclay Pl Suffolk, VA	1.0–2.0	1.0–2.0	893	$2,101	$2.35	3d	10	1.45mi
7190 Harbour Towne Pkwy Suffolk, VA	1.0–2.0	1.0–2.0	1054	$2,108	$2.00	3d	1	1.47mi

Listing history 2 events

1. 2026-06-21
   remarks 693-char remark
2. 2026-06-21
   listed $202,000 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: $1,979 · $165/mo
• Projected year-2 tax: $1,979 · $165/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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,657
• − Mortgage interest: −$11,315
• − Property taxes: −$1,979
• − Insurance: −$1,010
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$5,876
• Taxable loss: −$2,829
• Est. tax savings @ 24.0%: +$679
• After-tax cash flow: $1,297/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: Chesapeake City Public School District
• NCES district ID: 5100810
• Math proficiency: 58% ▼ -29.00%
• Reading proficiency: 74% ▼ -7.00%
• Median HH income: $69,356
• Composite: 57.84/100
• National rank: #1047
• State rank: #31 of 131 in VA

Livability — Chesapeake

• Score: 70/100
• State rank: #236
• US rank: #7942

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chesapeake, VA
• County: Chesapeake City · 253,091 people
• City population: 253,091
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 40,176
• Household income: $101,568
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 839.0

Population outlook (Chesapeake County) Hauer SSP2

• Today (2025): 263,804 people
• By 2030: 276,798 · +4.9%
• By 2040: 299,906 · +13.7%
• By 2050: 318,284 · +20.7%
• By 2075: 362,137 · +37.3%
• By 2100: 372,225 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 49% Black 37% Two or more races 8% Hispanic / Latino 5% Asian 3%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam, South Korea
• Languages at home: 92% English-only · Spanish 4% Vietnamese 1% Korean 1%

Political lean MEDSL · Chesapeake

• 2024 margin: Toss-up / Even · D 51.3% · R 47.5% · Other 1.2%
• 2008→2024 swing: +2.5pp toward D · 2008: 1.3pp · 2024: 3.8pp
• All cycles: 2024: D+3.8 2020: D+6.5 2016: R+1.3 2012: D+1.1 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -256.23%
• Current HPI: 295.6473
• Rent YoY: ▲ 7.59%
• 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

+272.7% since first listed

7 events — show timeline

• 2026-06-18 Listed $202,000 REINMLS
• 2021-10-14 Sold (Public Records) $166,000 Public Records
• 2021-09-16 Pending — REINMLS
• 2021-09-01 Contingent — REINMLS
• 2021-08-29 Listed $155,000 REINMLS
• 2006-01-25 Sold (Public Records) $94,000 Public Records
• 1988-10-17 Sold (Public Records) $54,200 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,979 · +5.5% YoY. Source: county tax records.