2578 Hartley St · Virginia Beach, VA 23456

$399,900

3 bd · 2.5 ba · 1,727 sqft · Townhouse public records · 14 Days on market

Built 1998 2,613 sqft lot Est $395k · at est.

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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 +10.1/30.0
• ARV discount +7.0/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready all-brick townhome with a new roof, fresh paint, new carpet, and gleaming floors downstairs! Spacious living area features a cozy wood-burning fireplace and opens to the dining area with chair rail detail. Light and bright eat-in kitchen offers plenty of cabinet space, all stainless-steel appliances, and great functionality. Utility closet includes washer and dryer. Upstairs bedrooms include a primary suite with private bath. Enjoy the fenced backyard with patio and brand-new fence, perfect for relaxing outdoors. Conveniently located in a desirable school district with easy access to shopping, dining, and more!

Key facts

• Pantry
• Attached garage
• Gas fireplace

Tags

• ATTACHED GARAGE
• GAS FIREPLACE
• EAT-IN KITCHEN
• ABUNDANT CABINET STORAGE
• PANTRY
• CATHEDRAL CEILING

Property features AI

Finance

• HOA & community: No HOA fees indicated

Exterior

• Parking: Attached 1-car garage; Driveway parking spaces
• Utilities: City/County water; City/County sewer; Gas water heater; Electric power
• Home design: Attached property; Transitional style; Two stories (two living levels); Slab foundation
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Patio; Back privacy fence; Storage shed

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Gas range; Refrigerator
• Bedrooms: One bedroom with ensuite
• Flooring: Carpet; Ceramic; Laminate
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Ceiling fan; Cable hookup; Garage door opener; Gas fireplace; Primary bedroom with double sink; Walk-in closet; Window treatments; Attic; Foyer; Breakfast area; Utility closet
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $400k.

Deal economics

• At list price, monthly cash flow is $-235 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $358k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $291k (27.3% below list).
• Recommended offer: $291k (27.3% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: Princess Anne Elementary (math 85% / reading 86%, grade A+, #61 of 1,108 statewide, top 6%, 682 students, 13% FRL); Floyd Kellam High (math 83% / reading 93%, grade A, #13 of 319 statewide, top 4%, 1,882 students, 14% FRL) — zoned schools average 13% FRL vs 28% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 87% at this address vs 74% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Va Beach City Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.8%/yr); 356 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $3k of loan paydown is wiped out by about $12k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $240k; list at $400k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $290,812 (27.3% 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. 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: 0.73% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $395,483
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2578 Hartley St	0.00mi	3/2.5	1,727 (0%)	1mo	$399,900	$232	99
2604 Bracston Rd	0.16mi	3/2.5	1,724 (-0%)	1mo	$379,000	$220	92
2350 Charing Cross Rd	0.20mi	3/2.5	1,727 (0%)	0mo	$410,000	$237	90
2654 Bracston Rd	0.07mi	3/2.5	1,741 (+1%)	7mo	$407,000	$234	89
2656 Bracston Rd	0.07mi	3/2.5	1,751 (+1%)	7mo	$360,000	$206	88
2589 Hartley St	0.04mi	3/2.5	1,889 (+9%)	2mo	$432,000	$229	81
2697 Bracston Rd	0.16mi	3/2.5	1,586 (-8%)	4mo	$415,500	$262	75
2449 Dillingham Rd	0.18mi	3/2.5	1,849 (+7%)	6mo	$419,900	$227	75
2400 Dillingham Rd	0.11mi	3/2.5	1,889 (+9%)	6mo	$430,000	$228	74
2623 Bracston Rd	0.12mi	3/2.5	1,889 (+9%)	7mo	$409,000	$217	73
2510 Hartley St	0.17mi	3/2.5	1,889 (+9%)	6mo	$370,000	$196	72
2343 Nottoway Ln	0.74mi	3/2.5	1,884 (+9%)	1mo	$520,000	$276	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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-77,573
• Equity at exit: $59,626

10-year hold

• IRR: -11.2%
• Equity multiple: 0.31×
• Total profit: $-77,640
• Equity at exit: $34,576

Cash invested: $111,972 (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 23456

• Rents YoY: 3.8%
• Active inventory: 356
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,908 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$269 /mo · $3,225/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$611
• Net cashflow: $-235

Break-even live

Break-even rent $3,206

Max offer price $358,368

Occupancy floor —

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2591 Hartley St Virginia Beach, VA	3.0	2.5	1589	$2,250	$1.42	7d	1	0.02mi
2409 Dillingham Rd Virginia Beach, VA	3.0	2.5	1751	$3,000	$1.71	23d	1	0.11mi
2228 Martlet Ln Virginia Beach, VA	3.0	3.0	2185	$3,400	$1.56	23d	1	0.66mi
2361 Nottoway Ln Virginia Beach, VA	3.0	2.5	2008	$3,200	$1.59	23d	1	0.77mi
2250 Princess Anne Rd Virginia Beach, VA	3.0	1.5	1680	$2,300	$1.37	23d	1	1.09mi

Listing history 9 events

1. 2026-05-22
   status Under Contract
2. 2026-05-13
   historical Active Under Contract
3. 2026-05-08
   listed $399,900 Active
4. 2026-05-04
   historical
5. 2026-04-21
   listed $399,900 Active
6. 2017-07-11
   soldstatus $240,000
7. 2017-06-19
   status Under Contract
8. 2017-06-01
   listed $244,900 Active
9. 2001-06-26
   soldstatus $124,900

ⓘ 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: $3,225 · $269/mo
• Projected year-2 tax: $3,279 · $273/mo
• Expected delta: +$54/yr (+$4/mo · 1.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,897
• − Mortgage interest: −$22,401
• − Property taxes: −$3,225
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,792
• − Management: −$2,792
• − Depreciation: −$11,633
• Taxable loss: −$9,945
• Est. tax savings @ 24.0%: +$2,387
• After-tax cash flow: $-434/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): 61,911
• Household income: $130,533
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 390.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 60% Black 13% Asian 12% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 85% English-only · Tagalog/Filipino 4% Spanish 4% Other Indo-European 2%

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: ▼ -328.17%
• Current HPI: 318.3094
• Rent YoY: ▲ 3.78%
• 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

+220.2% since first listed

9 events — show timeline

• 2026-05-22 Pending — REINMLS
• 2026-05-13 Contingent — REINMLS
• 2026-05-08 Listed $399,900 REINMLS
• 2026-05-04 Listing Removed — REINMLS
• 2026-04-21 Listed $399,900 REINMLS
• 2017-07-11 Sold (Public Records) $240,000 Public Records
• 2017-06-19 Pending — REINMLS
• 2017-06-01 Listed $244,900 REINMLS
• 2001-06-26 Sold (Public Records) $124,900 Public Records

Property tax history

+4.1%/yr

Latest (2025): $3,225 · +4.5% YoY. Source: county tax records.