106 Windmere Dr · Colonial Heights, VA 23834

$199,990

3 bd · 2.0 ba · 1,338 sqft · SingleFamily public records · 9 Days on market

Built 1971 0.45 ac lot $149/sqft · 32% below area Est $292k · 32% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.3/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• DSCR +4.0/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity! This brick rancher offers 1,338 square feet including hardwood floors, newer windows, roof replaced in 2015, a nice screened porch, rear patio, lots of landscaping, a large almost half-acre fenced yard, and a 1-car garage. Flip the property and sell it, fix it up and move in, renovate and rent it out - lots of possibilities! Located in the Huntington subdivision near Tussing Elementary, this home has a lot to offer, lots of curb appeal, and is on a quiet street that's also convenient to surrounding schools, parks, and cities - check it out! Property is sold in AS-IS condition.

Key facts

• Brick rancher
• Fenced yard
• Newer windows

Tags

• BRICK RANCHER
• HARDWOOD FLOORS
• NEWER WINDOWS
• SCREENED PORCH
• REAR PATIO
• FENCED YARD

Property features AI

Finance

• Other: Lot is approximately 0.45 acre; Zoning: R2; Above-grade finished area: 1,338 (area value provided)
• Financial info: Financial details not provided
• HOA & community: HOA/community details not provided

Exterior

• Parking: Attached garage (1 car)
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property
• Construction: Brick construction; Composition roof; Built (actual year not provided)
• Exterior features: Rear porch; Patio; Screened porch

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms; One full bath on the first level with tub & shower
• Heating & cooling: Baseboard electric heating
• Interior features: Masonry fireplace (1)
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $1 ($8/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 $175k (12.3% below list).
• Recommended offer: $175k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.2% in Colonial Heights — 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 74/100 on livability (#146 in VA, #4,726 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D, crime F.
• Colonial Heights City Public School District (suburban): math 52% / reading 64% proficiency, ranked #67 of 131 in VA (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.5%/yr); 124 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 17 units permitted in Colonial Heights 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.
• Colonial Heights County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 38% 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 $175,348 (12.3% below list)

Questions for the listing agent

1. Built in 1971 — 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. 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 6.30%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (median comp): $292,306
• List price: $199,990
• Delta: -31.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Windmere Dr	0.00mi	3/2.0	1,338 (0%)	0mo	$203,217	$152	100
203 Windmere Dr	0.05mi	3/1.5	1,426 (+7%)	7mo	$316,000	$222	79
3885 Perthshire Ln	0.49mi	3/2.0	1,345 (+0%)	2mo	$335,000	$249	74
115 Huntington Rd	0.18mi	3/1.5	1,482 (+11%)	6mo	$314,950	$213	67
1030 Briarcliffe Dr	0.38mi	3/1.5	1,248 (-7%)	4mo	$270,000	$216	66
1267 Briarcliffe Dr	0.45mi	3/2.0	1,426 (+7%)	6mo	$345,000	$242	63
5106 Conduit Rd	0.29mi	3/2.0	1,148 (-14%)	1mo	$289,900	$253	62
342 Pinecliffe Dr	0.52mi	3/2.0	1,426 (+7%)	4mo	$348,500	$244	61
3867 Perthshire Ln	0.54mi	3/2.0	1,414 (+6%)	8mo	$393,000	$278	59
225 Kennon Pointe Dr	0.69mi	3/2.0	1,303 (-3%)	8mo	$352,000	$270	57
1210 Wellington Rd	0.64mi	3/2.0	1,450 (+8%)	2mo	$319,990	$221	55
336 Pinecliffe Dr	0.53mi	3/2.0	1,467 (+10%)	8mo	$360,000	$245	52

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 · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.57×
• Total profit: $-24,038
• Equity at exit: $29,819

10-year hold

• IRR: 3.4%
• Equity multiple: 1.30×
• Total profit: $16,611
• Equity at exit: $17,291

Cash invested: $55,997 (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 23834

• Rents YoY: 7.5%
• Active inventory: 124
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,753 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$252 /mo · $3,030/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $1

Break-even live

Break-even rent $1,753

Max offer price $199,990

Occupancy floor 95%

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: $49,998
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Clearfield Cir Colonial Heights, VA	2.0–3.0	2.0	1048	$1,611	$1.54	1d	7	1.19mi

Listing history 2 events

1. 2026-05-11
   listed $199,990 Active 613-char remark
2. 1982-11-04
   soldstatus $68,000

ⓘ 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: $3,030 · $252/mo
• Projected year-2 tax: $3,030 · $252/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 38% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,042
• − Mortgage interest: −$11,203
• − Property taxes: −$3,030
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$5,818
• Taxable loss: −$3,375
• Est. tax savings @ 24.0%: +$810
• After-tax cash flow: $818/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: Colonial Heights City Public School District
• NCES district ID: 5100960
• Math proficiency: 52% ▼ -31.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $50,368
• Composite: 49.41/100
• National rank: #2011
• State rank: #67 of 131 in VA

Livability — Colonial Heights

• Score: 74/100
• State rank: #146
• US rank: #4726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colonial Heights, VA
• County: Chesterfield County · 406,988 people
• City population: 26,628
• Metro: Richmond, VA
• Population (ZIP): 26,628
• Household income: $84,338
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 814.0

Population outlook (Colonial Heights County) Hauer SSP2

• Today (2025): 18,627 people
• By 2030: 19,110 · +2.6%
• By 2040: 20,215 · +8.5%
• By 2050: 21,424 · +15.0%
• By 2075: 24,692 · +32.6%
• By 2100: 26,164 · +40.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 22% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Korean 1%

Political lean MEDSL · Colonial Heights

• 2024 margin: Solid R (+32.5) · D 33.4% · R 65.8%
• 2008→2024 swing: +8.2pp toward D · 2008: -40.7pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+33.2 2016: R+39.3 2012: R+39.5 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -212.28%
• Current HPI: 294.4478
• Rent YoY: ▲ 7.50%
• Metro: Richmond, VA
• 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

+198.8% since first listed

4 events — show timeline

• 2026-06-04 Sold (MLS) $203,217 CVRMLS
• 2026-05-21 Pending — CVRMLS
• 2026-05-11 Listed $199,990 CVRMLS
• 1982-11-04 Sold (Public Records) $68,000 Public Records

Property tax history

+4.3%/yr

Latest (2026): $3,030 · +14.1% YoY. Source: county tax records.