1073 Colonial Meadows Way · Virginia Beach, VA 23454

$385,000

3 bd · 2.5 ba · 1,882 sqft · Townhouse public records · 9 Days on market

Built 1986 2,639 sqft lot Est $444k · 13% under

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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).

• ARV discount +13.5/15.0
• Cash flow +10.9/30.0
• Schools +6.4/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• DSCR +3.2/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

In the heart of Great Neck, all-brick townhome in Southall Quarter offers the perfect blend of comfort and convenience, just minutes from the beach and 1 mile to Hilltop shoping. Enjoy a private fenced patio and 2nd floor deck, detached garage, and additional parking for 2 cars. NO HOA OR CONDO FEES!

Key facts

• Private fenced patio
• Additional parking
• 2nd floor deck

Tags

• PRIVATE FENCED PATIO
• 2ND FLOOR DECK
• DETACHED GARAGE
• ADDITIONAL PARKING

Property features AI

Finance

• HOA & community: No HOA or POA fees listed

Exterior

• Parking: Attached 1-car garage; Additional driveway space; Street parking; Total garage area approximately 352
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; Two stories; Two living levels; Slab foundation
• Construction: Asphalt shingle roof
• Exterior features: Brick siding; Full fenced yard; City view

Interior

• Kitchen: Kitchen with refrigerator; Electric range; Microwave; Dishwasher; Garbage disposal; Breakfast area
• Bedrooms: Master bedroom with ensuite; Additional bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: One wood-burning fireplace; Attic; Pantry; Utility room
• Laundry & utility: Washer and dryer included; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $385k.

Deal economics

• At list price, monthly cash flow is $-169 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $355k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $293k (23.9% below list).
• Recommended offer: $293k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: Alanton Elementary (math 75% / reading 79%, grade A, #171 of 1,108 statewide, top 17%, 629 students, 46% FRL); Lynnhaven Middle (math 64% / reading 80%, grade A, #65 of 342 statewide, top 21%, 886 students, 66% FRL); First Colonial High (math 76% / reading 81%, grade A-, #75 of 319 statewide, top 25%, 1,797 students, 34% FRL) — zoned schools average 49% FRL vs 28% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.6%/yr); 209 active listings in the ZIP; 10 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).
• This rent runs 34% of the median local income ($103k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $101k; list at $385k implies a 283% 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $292,869 (23.9% 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: 0.76% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $444,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1069 Colonial Meadows Way	0.01mi	3/2.5	1,882 (0%)	6mo	$430,000	$228	94
1002 Colonial Meadows Way	0.13mi	3/2.5	1,882 (0%)	2mo	$445,000	$236	92
1037 Colonial Meadows Way	0.04mi	3/2.5	1,953 (+4%)	2mo	$461,000	$236	90
1833 Durham W	0.27mi	3/2.5	1,890 (+0%)	2mo	$399,000	$211	84
913 Royal Cove Way	0.08mi	3/2.5	2,014 (+7%)	2mo	$620,000	$308	83
909 Royal Cove Way	0.08mi	3/2.5	2,014 (+7%)	5mo	$570,000	$283	80
949 Royal Cove Way	0.13mi	3/2.5	2,014 (+7%)	3mo	$570,000	$283	80
1018 Colonial Meadows Way	0.10mi	3/2.5	1,656 (-12%)	3mo	$404,900	$245	73
1067 Hanson Way	0.41mi	3/3.0	1,708 (-9%)	0mo	$365,000	$214	63
972 Colonial Meadows Way	0.20mi	2/2.5 (-1)	1,656 (-12%)	4mo	$395,000	$239	62
1005 Hanson Way	0.43mi	2/2.5 (-1)	1,725 (-8%)	2mo	$350,000	$203	59
1102 Noble Walk Ct	0.63mi	3/2.5	2,008 (+7%)	1mo	$410,000	$204	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 · 6.62% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.42×
• Total profit: $-62,162
• Equity at exit: $57,405

10-year hold

• IRR: -2.3%
• Equity multiple: 0.82×
• Total profit: $-19,382
• Equity at exit: $33,288

Cash invested: $107,800 (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 23454

• Rents YoY: 6.6%
• Active inventory: 209
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,929 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$303 /mo · $3,639/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $-169

Break-even live

Break-even rent $3,143

Max offer price $355,142

Occupancy floor —

Sensitivity live

Price	-10% $49	-5% $-60	+0% $-169	+5% $-278	+10% $-387
Rent	-10% $-400	-5% $-285	+0% $-169	+5% $-53	+10% $62
Rate	-1.0pp $25	-0.5pp $-71	base $-169	+0.5pp $-269	+1.0pp $-370

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 Colonial Meadows Way Virginia Beach, VA	3.0	2.5	1882	$3,300	$1.75	19d	1	0.12mi
1821 Durham W Virginia Beach, VA	3.0	2.5	1780	$2,500	$1.40	25d	1	0.23mi
1044 Commodore Dr Virginia Beach, VA	3.0	2.0	2418	$4,100	$1.70	4d	1	0.89mi
1997 Eastwood Villa Ln Virginia Beach, VA	1.0–3.0	1.0–2.5	1117	$2,209	$1.98	18d	1	1.01mi
1441 Laskin Rd Virginia Beach, VA	1.0–3.0	1.0–3.0	1226	$3,400	$2.77	6d	9	1.01mi
1441 Reynard Dr Virginia Beach, VA	1.0–4.0	1.0–2.5	1080	$2,495	$2.31	3d	19	1.05mi
1334 Linkhorn Cir Virginia Beach, VA	3.0	2.5	1532	$3,400	$2.22	25d	1	1.12mi
2012 Breton Ct Virginia Beach, VA	4.0	2.5	2200	$2,900	$1.32	22d	1	1.15mi
1812 Ashley Dr Virginia Beach, VA	3.0	2.0	1736	$2,350	$1.35	9d	1	1.40mi
233 Sykes Ave Unit A Virginia Beach, VA	3.0	2.5	1484	$2,450	$1.65	13d	1	1.48mi

Listing history 7 events

1. 2026-06-21
   statusdays on market $385,000 Under Contract 9 DOM
2. 2026-06-18
   days on market $385,000 Active Under Contract 7 DOM
3. 2026-06-17
   days on market $385,000 Active Under Contract 6 DOM
4. 2026-06-16
   statusdays on market $385,000 Active Under Contract 5 DOM
5. 2026-06-15
   days on market $385,000 Active 4 DOM
6. 2026-06-13
   remarks 301-char remark
7. 2026-06-13
   listed $385,000 Active 2 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: $3,639 · $303/mo
• Projected year-2 tax: $3,639 · $303/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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,144
• − Mortgage interest: −$21,566
• − Property taxes: −$3,639
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,812
• − Management: −$2,812
• − Depreciation: −$11,200
• Taxable loss: −$8,809
• Est. tax savings @ 24.0%: +$2,114
• After-tax cash flow: $86/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): 58,178
• Household income: $102,796
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1696.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 13% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Tagalog/Filipino 1% Chinese 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: ▼ -385.89%
• Current HPI: 328.85
• Rent YoY: ▲ 6.62%
• 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

+282.7% since first listed

2 events — show timeline

• 2026-06-11 Listed $385,000 REINMLS
• 1986-07-29 Sold (Public Records) $100,600 Public Records

Property tax history

+3.1%/yr

Latest (2025): $3,639 · +5.3% YoY. Source: county tax records.