3871 Buchanan Dr · Virginia Beach, VA 23453

$240,000

3 bd · 2.0 ba · 1,010 sqft · Townhouse public records · 7 Days on market

Built 1984 Est $242k · 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 +15.5/30.0
• ARV discount +7.9/15.0
• Schools +6.4/10.0
• Rent growth +4.9/5.0
• DSCR +4.8/10.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Townhouse in the Heart of Virginia Beach, Perfect for a small family, close to schools, shopping and military base. Vacant, fresh paint and new flooring downstairs all appliances work but convey AS-IS.

Key facts

• Close to schools
• Fresh paint
• New flooring

Tags

• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO MILITARY BASE
• FRESH PAINT
• NEW FLOORING

Property features AI

Finance

• HOA & community: Homeowners association (Green Run Homeowners); HOA fee $45 monthly

Exterior

• Parking: Driveway spaces; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric service
• Home design: Attached townhouse; Two stories; Slab foundation
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Back privacy fence; Storage shed

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: First-floor master bedroom; Master bedroom with bath; Additional bedroom(s)
• Flooring: Ceramic; Laminate; Wood
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air; Forced hot air
• Interior features: Ceiling fan; One fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $240k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/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 $210k (12.4% below list).
• Recommended offer: $210k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Landstown Elementary (math 69% / reading 79%, grade A, #248 of 1,108 statewide, top 23%, 676 students, 44% FRL); Landstown High (math 67% / reading 86%, grade A-, #99 of 319 statewide, top 31%, 2,226 students, 38% FRL).
• Market conditions: Rents rising fast (+9.7%/yr); 99 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $7k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $153k; list at $240k implies a 57% 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,344 (12.4% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.88% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $242,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3831 Buchanan Dr	0.09mi	3/2.0	1,010 (0%)	2mo	$260,000	$257	94
3912 Buchanan Dr	0.05mi	2/2.0 (-1)	1,000 (-1%)	4mo	$248,000	$248	88
1644 Fairfax Dr	0.26mi	2/1.5 (-1)	1,008 (-0%)	3mo	$244,000	$242	78
3848 Lasalle Dr #101	0.22mi	2/2.0 (-1)	1,068 (+6%)	2mo	$250,000	$234	74
3694 Sylvan Ln	0.34mi	2/1.5 (-1)	1,000 (-1%)	3mo	$240,000	$240	73
3536 Dublin Ct	0.13mi	2/2.0 (-1)	904 (-10%)	1mo	$164,000	$181	71
1301 Snowflake Cir	0.25mi	2/1.5 (-1)	1,080 (+7%)	2mo	$275,000	$255	68
1602 Fairfax Dr	0.18mi	2/1.0 (-1)	900 (-11%)	1mo	$250,000	$278	64
3836 Lasalle Dr #106	0.23mi	2/2.5 (-1)	1,132 (+12%)	1mo	$254,999	$225	61
3692 Sylvan Ln	0.34mi	3/1.5	1,158 (+15%)	2mo	$267,000	$231	56
3658 Sylvan Ct	0.34mi	3/1.5	1,158 (+15%)	4mo	$243,000	$210	55
3614 Windmill Dr	0.62mi	3/1.5	1,146 (+14%)	3mo	$240,000	$209	44

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: -8.4%
• Equity multiple: 0.68×
• Total profit: $-21,650
• Equity at exit: $35,785

10-year hold

• IRR: 6.5%
• Equity multiple: 1.59×
• Total profit: $39,556
• Equity at exit: $20,751

Cash invested: $67,200 (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 23453

• Home prices YoY: -13.4%
• Rents YoY: 9.7%
• Active inventory: 99
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,103 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$162 /mo · $1,939/yr
• Insurance: −$100
• HOA: −$45
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $97

Break-even live

Break-even rent $1,981

Max offer price $240,000

Occupancy floor 90%

Sensitivity live

Price	-10% $232	-5% $164	+0% $97	+5% $29	+10% $-39
Rent	-10% $-70	-5% $13	+0% $97	+5% $180	+10% $263
Rate	-1.0pp $217	-0.5pp $158	base $97	+0.5pp $34	+1.0pp $-29

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 Irvington Ct Virginia Beach, VA	2.0	2.0	999	$2,000	$2.00	24d	1	0.10mi
3528 Dublin Ct Virginia Beach, VA	2.0	1.0	752	$1,700	$2.26	13d	1	0.12mi
3702 Canadian Arch Virginia Beach, VA	2.0	1.5	1100	$1,700	$1.55	4d	1	0.30mi
1401 Wendfield Dr #103 Virginia Beach, VA	3.0	1.5	1344	$1,850	$1.38	20d	1	0.37mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	4d	1	0.42mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	24d	1	0.42mi
1404 Wendfield Dr Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	4d	1	0.42mi
1728 Vankar Dr #104 Virginia Beach, VA	2.0	2.0	1293	$2,495	$1.93	8d	1	0.48mi
1728 Vankar Dr #307 Virginia Beach, VA	2.0	2.0	1316	$2,500	$1.90	17d	1	0.48mi
1785 River Rock Arch Virginia Beach, VA	3.0	2.0	1438	$2,350	$1.63	15d	1	0.49mi
1744 River Rock Arch Virginia Beach, VA	3.0	2.0	1456	$2,495	$1.71	17d	1	0.50mi
3521 Sierra Arch Virginia Beach, VA	3.0	1.5	1420	$1,650	$1.16	24d	1	0.55mi
3849 Clarendon Way Unit 1 Virginia Beach, VA	2.0	2.5	1349	$2,200	$1.63	13d	1	0.59mi
3638 Windmill Dr Virginia Beach, VA	2.0	1.0	934	$1,695	$1.81	11d	1	0.60mi
3829 Shooting Star Dr Virginia Beach, VA	4.0	1.5	1296	$2,950	$2.28	15d	1	0.60mi
1434 Peony Arch Virginia Beach, VA	3.0	2.0	1407	$2,600	$1.85	24d	1	0.64mi
3560 Windmill Dr Virginia Beach, VA	3.0	1.5	1080	$2,100	$1.94	24d	1	0.70mi
1752 Halesworth Ln Virginia Beach, VA	2.0	2.5	1324	$2,190	$1.65	24d	1	0.70mi
1752 Halesworth Ln Unit 1 Virginia Beach, VA	2.0	2.5	1329	$2,200	$1.66	24d	1	0.70mi
4156 Clarendon Way Virginia Beach, VA	2.0	2.5	1329	$2,400	$1.81	24d	1	0.77mi
3517 Plum Cres Virginia Beach, VA	3.0	2.0	1450	$2,200	$1.52	13d	1	0.83mi
3500 Green Garden Cir Virginia Beach, VA	2.0	1.0	980	$1,685	$1.72	24d	1	0.93mi
1301 Pine Cone Cir Virginia Beach, VA	1.0–3.0	1.0–2.0	827	$2,170	$2.62	2d	13	0.97mi
1400 Dewitt Way Virginia Beach, VA	2.0–3.0	2.0–2.5	1212	$2,225	$1.84	24d	1	1.11mi
1257 Green Cedar Ln Virginia Beach, VA	2.0	1.5	950	$1,725	$1.82	8d	1	1.16mi
1523 Penrose Arch Virginia Beach, VA	2.0	2.0	1126	$1,550	$1.38	4d	1	1.16mi
3480 Landstown Ct Virginia Beach, VA	3.0	2.0	1359	$2,495	$1.84	17d	1	1.17mi
3304 Weeping Willow Ln Virginia Beach, VA	3.0	1.5	1254	$1,750	$1.40	24d	1	1.21mi
846 Crashaw St Virginia Beach, VA	2.0	2.0	1346	$1,895	$1.41	15d	1	1.22mi
1240 White Birch Ln Virginia Beach, VA	3.0	1.5	1254	$1,950	$1.56	17d	1	1.27mi
1232 White Birch Ln Virginia Beach, VA	3.0	2.0	1254	$2,095	$1.67	24d	1	1.27mi
1027 Tivoli Cres Virginia Beach, VA	1.0–2.0	1.0	787	$1,573	$2.00	24d	1	1.28mi
807 Foxmoore Ct Virginia Beach, VA	2.0	2.5	1125	$2,000	$1.78	3d	1	1.30mi
713 Willow Lake Cir Virginia Beach, VA	1.0–2.0	1.0–2.0	1041	$2,475	$2.38	24d	1	1.31mi
3745 Edenberry Ct Virginia Beach, VA	2.0	2.0	1044	$1,899	$1.82	4d	1	1.35mi
724 Harbor Springs Trl Virginia Beach, VA	2.0	2.0	1200	$1,795	$1.50	13d	1	1.36mi
2009 Inverrary Ct Virginia Beach, VA	3.0	2.5	1500	$2,440	$1.63	13d	1	1.36mi
1012 Grassland Ct Virginia Beach, VA	3.0	2.0	1021	$2,050	$2.01	24d	1	1.44mi
3931 Kiwanis Loop Virginia Beach, VA	3.0	2.5	1162	$2,300	$1.98	4d	1	1.46mi
3700 Snowdrift Cir Virginia Beach, VA	1.0–3.0	1.0–2.0	887	$2,599	$2.93	24d	1	1.47mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 4 events

1. 2026-05-21
   listed $240,000 Active
2. 2006-03-09
   soldstatus $153,000
3. 2004-03-10
   soldstatus $168,000
4. 2003-02-11
   soldstatus $78,000

ⓘ 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: $1,939 · $162/mo
• Projected year-2 tax: $1,968 · $164/mo
• Expected delta: +$29/yr (+$2/mo · 1.5%)

ⓘ 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 ≥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: $25,241
• − Mortgage interest: −$13,444
• − Property taxes: −$1,939
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,019
• − Management: −$2,019
• − HOA: −$540
• − Depreciation: −$6,982
• Taxable loss: −$2,902
• Est. tax savings @ 24.0%: +$696
• After-tax cash flow: $1,855/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

+207.7% since first listed

4 events — show timeline

• 2026-05-21 Listed $240,000 REINMLS
• 2006-03-09 Sold (Public Records) $153,000 Public Records
• 2004-03-10 Sold (Public Records) $168,000 Public Records
• 2003-02-11 Sold (Public Records) $78,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,939 · +3.0% YoY. Source: county tax records.