3903 Kiwanis Loop · Virginia Beach, VA 23456

$264,900

2 bd · 1.5 ba · 1,040 sqft · Townhouse public records · 10 Days on market

Built 1984 Est $264k · at est.

---

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 +17.7/30.0
• ARV discount +7.4/15.0
• Schools +6.4/10.0
• DSCR +5.5/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for an updated townhome with no monthly fees near neibhorhood park in Salem Lakes. Salem Elementary right down the street along with convenient shopping and golf. Impressive kitchen, fenced in rear yard with large deck. New paint throughout and new carpet along with updated baths and mostly new fixtures. Replacement windows already in and the roof looks great. Welcome home!

Key facts

• Large deck
• Fenced in rear yard
• Neighborhood park

Tags

• UPDATED TOWNHOME
• NEIGHBORHOOD PARK
• FENCED IN REAR YARD
• LARGE DECK
• IMPRESSIVE KITCHEN
• REPLACEMENT WINDOWS

Property features AI

Finance

• HOA & community: No HOA/association fees indicated

Exterior

• Parking: Off-street parking; Driveway spaces; Multi-car parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; 2 stories; Slab foundation; Simple ownership
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Deck; Patio; Back privacy wood fence; Storage shed

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Master bedroom on 2nd floor; Additional bedroom
• Flooring: Carpet; Ceramic
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Bar; Wood-burning fireplace; Window treatments
• Laundry & utility: Washer hookup; Dryer hookup; Utility room; Utility closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $265k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/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 $239k (9.8% below list).
• Recommended offer: $239k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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: Salem Elementary (math 77% / reading 82%, grade A, #141 of 1,108 statewide, top 14%, 556 students, 36% FRL); Landstown High (math 67% / reading 86%, grade A-, #99 of 319 statewide, top 31%, 2,226 students, 38% FRL).
• Market conditions: Rents rising (+3.8%/yr); 356 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $2k of loan paydown is wiped out by about $8k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $202k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 94% 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 $238,936 (9.8% 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. 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: 0.90% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $264,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3903 Kiwanis Loop	0.00mi	2/2.0	1,100 (+6%)	1mo	$270,000	$245	88
1991 Mill Creek Dr	0.22mi	2/2.0	1,014 (-2%)	10mo	$263,900	$260	75
3959 Morning View Dr	0.20mi	3/1.0 (+1)	1,000 (-4%)	8mo	$271,000	$271	71
3982 Kiwanis Loop	0.10mi	3/1.5 (+1)	1,153 (+11%)	2mo	$301,000	$261	70
3935 Lantana Pl	0.20mi	2/2.5	1,120 (+8%)	9mo	$285,000	$254	66
3927 Kiwanis Loop	0.06mi	3/2.5 (+1)	1,162 (+12%)	5mo	$294,000	$253	65
3938 Kiwanis Loop	0.08mi	3/2.5 (+1)	1,153 (+11%)	7mo	$297,000	$258	64
5092 Heathglen Cir	0.51mi	2/2.0	1,106 (+6%)	0mo	$198,000	$179	63
4121 Laurel Green Cir	0.55mi	2/1.0	1,124 (+8%)	2mo	$255,000	$227	58
5088 Heathglen Cir	0.51mi	2/2.0	1,106 (+6%)	11mo	$237,500	$215	55
5080 Heathglen Cir	0.49mi	1/1.0 (-1)	927 (-11%)	5mo	$195,000	$210	48
5053 Heathglen Cir	0.54mi	2/2.5	1,152 (+11%)	9mo	$299,900	$260	46

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: -10.1%
• Equity multiple: 0.63×
• Total profit: $-27,419
• Equity at exit: $39,497

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,367
• Equity at exit: $22,904

Cash invested: $74,172 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,389 high
• Mortgage (P&I): −$1,389
• Tax from tax record: −$173 /mo · $2,080/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $215

Break-even live

Break-even rent $2,118

Max offer price $264,900

Occupancy floor 86%

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2009 Inverrary Ct Virginia Beach, VA	3.0	2.5	1500	$2,440	$1.63	12d	1	0.04mi
3931 Kiwanis Loop Virginia Beach, VA	3.0	2.5	1162	$2,300	$1.98	4d	1	0.08mi
5036 Glenwood Way Virginia Beach, VA	3.0	2.5	1455	$2,495	$1.71	8d	1	0.80mi
5140 Glenwood Way Virginia Beach, VA	3.0	2.5	1450	$2,195	$1.51	21d	1	0.90mi
1785 River Rock Arch Virginia Beach, VA	3.0	2.0	1438	$2,350	$1.63	15d	1	0.92mi
1744 River Rock Arch Virginia Beach, VA	3.0	2.0	1456	$2,495	$1.71	17d	1	0.96mi
1752 Halesworth Ln Unit 1 Virginia Beach, VA	2.0	2.5	1329	$2,200	$1.66	24d	1	1.11mi
1752 Halesworth Ln Virginia Beach, VA	2.0	2.5	1324	$2,190	$1.65	24d	1	1.11mi
1728 Vankar Dr #307 Virginia Beach, VA	2.0	2.0	1316	$2,500	$1.90	17d	1	1.16mi
1728 Vankar Dr #104 Virginia Beach, VA	2.0	2.0	1293	$2,495	$1.93	8d	1	1.16mi
4156 Clarendon Way Virginia Beach, VA	2.0	2.5	1329	$2,400	$1.81	24d	1	1.20mi
3849 Clarendon Way Unit 1 Virginia Beach, VA	2.0	2.5	1349	$2,200	$1.63	12d	1	1.20mi
3500 Irvington Ct Virginia Beach, VA	2.0	2.0	999	$2,000	$2.00	24d	1	1.34mi
3702 Canadian Arch Virginia Beach, VA	2.0	1.5	1100	$1,700	$1.55	4d	1	1.35mi
3528 Dublin Ct Virginia Beach, VA	2.0	1.0	752	$1,700	$2.26	12d	1	1.42mi

Listing history 10 events

1. 2026-05-18
   status Under Contract
2. 2026-05-11
   historical Active Under Contract
3. 2026-05-08
   listed $264,900 Active
4. 2026-04-27
   soldstatus $202,300
5. 2020-09-05
   status Under Contract
6. 2020-08-31
   listed $174,900 Active
7. 2016-08-24
   status Under Contract
8. 2016-08-22
   historical
9. 2016-08-05
   listed $159,900 Active
10. 1995-12-04
    soldstatus $57,000

ⓘ 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: $2,080 · $173/mo
• Projected year-2 tax: $2,172 · $181/mo
• Expected delta: +$93/yr (+$8/mo · 4.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 94% 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: $28,672
• − Mortgage interest: −$14,839
• − Property taxes: −$2,080
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,294
• − Management: −$2,294
• − Depreciation: −$7,706
• Taxable loss: −$1,864
• Est. tax savings @ 24.0%: +$447
• After-tax cash flow: $3,024/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

+364.7% since first listed

10 events — show timeline

• 2026-05-18 Pending — REINMLS
• 2026-05-11 Contingent — REINMLS
• 2026-05-08 Listed $264,900 REINMLS
• 2026-04-27 Sold (Public Records) $202,300 Public Records
• 2020-09-05 Pending — REINMLS
• 2020-08-31 Listed $174,900 REINMLS
• 2016-08-24 Pending — REINMLS
• 2016-08-22 Listing Removed — REINMLS
• 2016-08-05 Listed $159,900 REINMLS
• 1995-12-04 Sold (Public Records) $57,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,080 · +4.1% YoY. Source: county tax records.