1804 Glenthorne Rd · East Highland Park, VA 23222

$270,000

3 bd · 1.5 ba · 1,611 sqft · SingleFamily public records · 2 Days on market

Built 1987 Est $343k · 21% 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 +15.0/15.0
• Cash flow +12.6/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• DSCR +3.8/10.0
• Livability +3.6/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Custom built 2 bedroom, 1.5 bath brick rancher with an open floor plan offering a 1 car attached garage. Living room, family room area with brick wood burning fireplace, kitchen with bar and nook. Large paved driveway. Finished enclosed porch used as a Florida room. Fenced back yard with tool shed. Great to downsize, become a first time homebuyer and/or perfect for roommates! Central air. Refrigerator, stove, washer and dryer. Home warranty

Key facts

• Garage
• Built 1987
• Listed 2 days

Property features AI

Exterior

• Parking: Attached garage (unfinished); Oversized garage with garage door opener; Driveway parking; Paved parking
• Utilities: Public water; Public sewer; Electric service available
• Home design: Single-story home; Resale property
• Construction: Brick and block construction with drywall interior; Composition roof
• Exterior features: Paved driveway; Front porch; Fenced backyard

Interior

• Kitchen: Electric cooking; Stove; Microwave; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: Second bedroom on the first level (LVP flooring, ceiling fan)
• Flooring: Vinyl / LVP flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump; Forced air; Electric heating available; Natural gas heating available; Cooling via heat pump
• Interior features: Main-level primary bedroom; Bedroom on main level; Ceiling fan(s); Dining area; Fireplace (decorative); Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-35 ($-423/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (20.8% below list).
• Recommended offer: $214k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.2% in East Highland Park — 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 72/100 on livability (#197 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D-, commute F.
• Henrico County Public School District (suburban): math 49% / reading 64% proficiency, ranked #68 of 131 in VA (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Harvie Elementary (math 17% / reading 27%, grade F, #1,069 of 1,108 statewide, top 97%, 495 students, 90% FRL); L. Douglas Wilder Middle (math 47% / reading 51%, grade C-, #238 of 342 statewide, top 71%, 761 students, 89% FRL); Henrico High (math 44% / reading 74%, grade C+, #256 of 319 statewide, top 81%, 1,348 students, 86% FRL) — zoned schools average 89% FRL vs 34% district-wide (54 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 43% at this address vs 56% district-wide (-13 pts) — the specific schools serving this property underperform the Henrico County Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.4%/yr); 185 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,826 units permitted in Henrico County in 2024 (785 in 5+ unit buildings).
• This rent runs 42% of the median local income ($61k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Henrico County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y ago; this cycle's ask is 54% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $170k; list at $270k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $213,710 (20.8% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.79% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $343,143
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1413 Young St	0.47mi	3/1.0	1,595 (-1%)	3mo	$300,000	$188	72
3016 Barrington Rd	0.11mi	3/2.5	1,440 (-11%)	7mo	$329,000	$228	67
2126 Rhudy St	0.34mi	4/2.5 (+1)	1,513 (-6%)	2mo	$370,000	$245	63
3802 Martin Ave	0.47mi	4/2.0 (+1)	1,632 (+1%)	8mo	$340,450	$209	62
3910 Genacre Ln	0.64mi	3/1.0	1,586 (-2%)	5mo	$255,000	$161	61
3123 4th Ave	0.44mi	3/2.5	1,463 (-9%)	2mo	$357,000	$244	58
3402 2nd Ave	0.51mi	4/1.5 (+1)	1,500 (-7%)	6mo	$308,000	$205	55
2814 4th Ave	0.73mi	3/2.5	1,672 (+4%)	4mo	$385,000	$230	52
3522 Enslow Ave	0.65mi	3/2.5	1,700 (+6%)	8mo	$376,000	$221	50
3220 Carolina Ave	0.75mi	4/2.5 (+1)	1,592 (-1%)	6mo	$320,000	$201	50
2902 4th Ave	0.69mi	4/1.5 (+1)	1,500 (-7%)	8mo	$320,000	$213	45
1507 Young St	0.42mi	4/3.0 (+1)	1,834 (+14%)	8mo	$390,000	$213	40

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 · 7.43% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.52×
• Total profit: $-36,104
• Equity at exit: $40,258

10-year hold

• IRR: 1.6%
• Equity multiple: 1.13×
• Total profit: $10,191
• Equity at exit: $23,345

Cash invested: $75,600 (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 23222

• Rents YoY: 7.4%
• Active inventory: 185
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,137 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$195 /mo · $2,342/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-35

Break-even live

Break-even rent $2,182

Max offer price $263,766

Occupancy floor 97%

Sensitivity live

Price	-10% $118	-5% $41	+0% $-35	+5% $-112	+10% $-188
Rent	-10% $-204	-5% $-120	+0% $-35	+5% $49	+10% $134
Rate	-1.0pp $101	-0.5pp $33	base $-35	+0.5pp $-105	+1.0pp $-176

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3101 Divine Dr Richmond, VA	3.0	2.5	1525	$2,700	$1.77	5d	1	0.15mi
3317 Waverly Blvd Unit B Richmond, VA	3.0	2.0	1500	$1,875	$1.25	19d	1	0.29mi
1519 Byron St Richmond, VA	3.0	1.5	1384	$1,700	$1.23	5d	1	0.35mi
3103 Dill Ave Richmond, VA	3.0	1.5	1380	$2,050	$1.49	25d	1	0.49mi
3511 1st Ave Richmond, VA	4.0	1.5	1600	$2,050	$1.28	25d	1	0.55mi
3017 Dill Ave Richmond, VA	4.0	2.0	1578	$1,895	$1.20	5d	1	0.56mi
3007 3rd Ave Richmond, VA	3.0	3.0	2036	$2,295	$1.13	45d	1	0.58mi
3202 1st Ave Richmond, VA	3.0	2.5	1440	$2,062	$1.43	23d	1	0.63mi
3621 Enslow Ave Richmond, VA	2.0	1.5	1232	$2,850	$2.31	25d	1	0.65mi
3425 Carolina Ave Unit B Richmond, VA	3.0	1.0	1300	$1,400	$1.08	25d	1	0.68mi
3425 Carolina Ave Unit A Richmond, VA	3.0	1.0	1300	$1,400	$1.08	45d	1	0.69mi
3615 Ammons Ave Richmond, VA	3.0	1.0	1200	$1,595	$1.33	16d	1	0.70mi
3211 Maryland Ave Richmond, VA	4.0	1.5	1344	$1,871	$1.39	45d	1	0.79mi
4019 Grand Reserve Ln Richmond, VA	3.0	2.5	1606	$3,000	$1.87	25d	1	0.81mi
2810 2nd Ave Richmond, VA	2.0	1.0	1120	$1,950	$1.74	45d	1	0.81mi
3411 Oxnard Rd Richmond, VA	3.0	1.0	1083	$1,795	$1.66	19d	1	0.81mi
4121 Concord Creek PL Richmond, VA	1.0–2.0	1.0–2.0	892	$2,570	$2.88	3d	26	0.82mi
4100 Concord Creek Pl Richmond, VA	1.0–3.0	1.0–2.0	912	$2,395	$2.62	3d	30	0.87mi
4184 Park Trail Dr Richmond, VA	3.0	2.5	1606	$2,525	$1.57	5d	1	0.92mi
622 Pollock St Richmond, VA	3.0	1.5	1122	$2,300	$2.05	25d	1	0.95mi
3615 Missouri Ave Richmond, VA	3.0	2.0	1758	$2,150	$1.22	45d	1	0.98mi
3324 Meadowbridge Rd Richmond, VA	4.0	2.5	1667	$2,175	$1.30	19d	1	0.99mi
3501 Meadowbridge Rd Richmond, VA	3.0	1.0	1383	$1,495	$1.08	25d	1	1.07mi
3501 Meadowbridge Rd Richmond, VA	3.0	1.0	1383	$1,495	$1.08	22d	1	1.07mi
3909 Patrick Ave Richmond, VA	3.0	1.5	1200	$2,650	$2.21	45d	1	1.11mi
2213 Capp Rd Richmond, VA	3.0	2.0	1572	$2,200	$1.40	19d	1	1.11mi
3217 Hunters Mill Dr Richmond, VA	3.0	1.5	1178	$1,975	$1.68	45d	1	1.31mi
3221 Hunters Mill Dr Richmond, VA	3.0	2.0	1254	$1,750	$1.40	5d	1	1.32mi
4100 Montclair Rd Richmond, VA	3.0	2.0	1942	$2,450	$1.26	45d	1	1.32mi
3231 Hunters Mill Dr Richmond, VA	2.0	1.5	1064	$1,550	$1.46	25d	1	1.34mi
2153 Cool Ln Richmond, VA	2.0	1.0	1148	$1,080	$0.94	45d	1	1.41mi
3311 Cliff Ave Richmond, VA	2.0	1.5	1567	$2,000	$1.28	45d	1	1.41mi
3204 North Ave Richmond, VA	3.0	2.5	1626	$2,395	$1.47	6d	1	1.49mi

Listing history 13 events

1. 2026-06-07
   statusdays on market $270,000 Pending 2 DOM
2. 2026-06-05
   statusdays on market $270,000 Active 1 DOM
3. 2026-06-03
   days on market $270,000 Coming Soon 10 DOM
4. 2026-06-02
   days on market $270,000 Coming Soon 9 DOM
5. 2026-06-01
   days on market $270,000 Coming Soon 8 DOM
6. 2026-05-31
   days on market $270,000 Coming Soon 7 DOM
7. 2026-05-24
   historical $260,000
8. 2020-03-05
   soldstatus $170,000
9. 2020-03-04
   soldstatus $170,000 Closed 444-char remark

   Show marketing remark (444 chars)

   Custom built 2 bedroom, 1.5 bath brick rancher with an open floor plan offering a 1 car attached garage. Living room, family room area with brick wood burning fireplace, kitchen with bar and nook. Large paved driveway. Finished enclosed porch used as a Florida room. Fenced back yard with tool shed. Great to downsize, become a first time homebuyer and/or perfect for roommates! Central air. Refrigerator, stove, washer and dryer. Home warranty

10. 2020-02-02
    status Pending 444-char remark

    Show marketing remark (444 chars)

    Custom built 2 bedroom, 1.5 bath brick rancher with an open floor plan offering a 1 car attached garage. Living room, family room area with brick wood burning fireplace, kitchen with bar and nook. Large paved driveway. Finished enclosed porch used as a Florida room. Fenced back yard with tool shed. Great to downsize, become a first time homebuyer and/or perfect for roommates! Central air. Refrigerator, stove, washer and dryer. Home warranty

11. 2020-01-21
    listed $175,000 Active 444-char remark

    Show marketing remark (444 chars)

    Custom built 2 bedroom, 1.5 bath brick rancher with an open floor plan offering a 1 car attached garage. Living room, family room area with brick wood burning fireplace, kitchen with bar and nook. Large paved driveway. Finished enclosed porch used as a Florida room. Fenced back yard with tool shed. Great to downsize, become a first time homebuyer and/or perfect for roommates! Central air. Refrigerator, stove, washer and dryer. Home warranty

12. 2012-12-30
    historical
13. 2011-12-29
    listed $154,950

ⓘ 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: $2,342 · $195/mo
• Projected year-2 tax: $2,342 · $195/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 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,645
• − Mortgage interest: −$15,124
• − Property taxes: −$2,342
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,052
• − Management: −$2,052
• − Depreciation: −$7,855
• Taxable loss: −$5,129
• Est. tax savings @ 24.0%: +$1,231
• After-tax cash flow: $808/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: Henrico County Public School District
• NCES district ID: 5101890
• Math proficiency: 49% ▼ -32.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $61,854
• Composite: 49.25/100
• National rank: #2031
• State rank: #68 of 131 in VA

Livability — East Highland Park

• Score: 72/100
• State rank: #197
• US rank: #6099

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Highland Park, VA
• County: Richmond City · 178,280 people
• Metro: Richmond, VA
• Population (ZIP): 26,322
• Household income: $61,345
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1325.0

Population outlook (Henrico County) Hauer SSP2

• Today (2025): 365,885 people
• By 2030: 384,255 · +5.0%
• By 2040: 416,688 · +13.9%
• By 2050: 442,376 · +20.9%
• By 2075: 488,037 · +33.4%
• By 2100: 487,430 · +33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 21% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Henrico

• 2024 margin: Strong D (+28.9) · D 63.7% · R 34.8% · Other 1.5%
• 2008→2024 swing: +16.6pp toward D · 2008: 12.2pp · 2024: 28.9pp
• All cycles: 2024: D+28.9 2020: D+29.0 2016: D+21.0 2012: D+11.7 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -288.72%
• Current HPI: 428.4029
• Rent YoY: ▲ 7.43%
• 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

+67.8% since first listed

7 events — show timeline

• 2026-05-24 Coming Soon $260,000 CVRMLS
• 2020-03-05 Sold (Public Records) $170,000 Public Records
• 2020-03-04 Sold (MLS) $170,000 CVRMLS
• 2020-02-02 Pending — CVRMLS
• 2020-01-21 Listed $175,000 CVRMLS
• 2012-12-30 Listing Removed — CVRMLS
• 2011-12-29 Listed $154,950 CVRMLS

Property tax history

+5.4%/yr

Latest (2025): $2,342 · +4.1% YoY. Source: county tax records.