10600 White Rabbit Rd · Bon Air, VA 23235

$349,950

4 bd · 2.0 ba · 1,788 sqft · SingleFamily public records · 1 Days on market

Built 1978 8,973 sqft lot Est $386k · 9% 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).

• Cash flow +12.0/30.0
• ARV discount +11.7/15.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 10600 White Rabbit Road, a charming home located in the sought-after James River school district. As you enter this split-level home, you’ll immediately notice the all-new flooring throughout. Upstairs, the cozy living room features brand-new carpet, replacement windows, and an abundance of natural light. Adjacent to the living room is the dining area, complete with a chandelier and sliding glass doors leading to the deck. Offering both privacy and a peaceful setting, the deck overlooks a beautifully landscaped backyard that serves as a true outdoor retreat. The kitchen features Formica countertops, new LVP flooring, and an eat-in area perfect for casual dining. Also on the

Key facts

• Landscaped backyard
• Sliding glass doors
• Natural light

Tags

• ALL-NEW FLOORING
• REPLACEMENT WINDOWS
• NATURAL LIGHT
• DINING AREA
• SLIDING GLASS DOORS
• LANDSCAPED BACKYARD

Property features AI

Exterior

• Parking: Driveway (paved)
• Utilities: Public water; Public sewer; Electric service
• Home design: 2 stories; Resale property
• Construction: Shingle roof; Drywall; Vinyl siding; Wood siding; Slab foundation; Built (approximate year)
• Exterior features: Deck; Exterior lighting; Paved driveway; Deck (patio/porch)

Interior

• Kitchen: Dishwasher; Electric cooking / Stove; Microwave; Refrigerator
• Bedrooms: Total rooms: 7
• Flooring: Partially carpeted; Tile; Vinyl
• Bathrooms: 2 full bathrooms; Full bath with tub & shower (First level); Full bath with tub & shower (Second level)
• Heating & cooling: Heat pump (electric); Electric heating; Has cooling
• Interior features: Ceiling fan(s); Dining area; Eat-in kitchen; Fireplace; Laminate counters; Thermal windows; Sliding doors
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-83 ($-998/yr) — negative.
• To cash-flow at today's rent, offer at most $335k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (24.2% below list).
• Recommended offer: $265k (24.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.8% in Bon Air — 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 77/100 on livability (#103 in VA, #3,251 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Chesterfield County Public School District (suburban): math 52% / reading 64% proficiency, ranked #57 of 131 in VA (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenfield Elementary (math 92% / reading 93%, grade A+, #7 of 1,108 statewide, top 1%, 462 students, 33% FRL); Robious Middle (math 73% / reading 73%, grade A, #58 of 342 statewide, top 17%, 1,129 students, 26% FRL); James River High (math 56% / reading 86%, grade B+, #146 of 319 statewide, top 47%, 1,926 students, 32% FRL) — zoned schools at 30% FRL track the district average.
• Zoned-school proficiency averages 79% at this address vs 58% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Chesterfield County Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.0%/yr); 169 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,307 units permitted in Chesterfield County in 2024 (462 in 5+ unit buildings).
• This rent runs 33% of the median local income ($96k/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 $10k of value loss. Plan a longer hold.
• Chesterfield County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $72k; list at $350k implies a 383% 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,414 (24.2% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $386,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2224 Dragonfly Ln	0.24mi	3/2.0 (-1)	1,788 (0%)	1mo	$355,000	$199	83
10424 White Rabbit Rd	0.11mi	3/2.5 (-1)	1,740 (-3%)	3mo	$375,000	$216	80
2032 Woodmont Dr	0.52mi	4/2.5	1,800 (+1%)	4mo	$339,000	$188	70
10656 Honey Tree Rd	0.54mi	4/2.5	1,808 (+1%)	2mo	$445,000	$246	69
10324 Jason Rd	0.47mi	3/2.0 (-1)	1,753 (-2%)	2mo	$425,000	$242	69
10817 W Huguenot Rd	0.56mi	4/2.5	1,825 (+2%)	3mo	$315,000	$173	66
1659 Inspiration Dr	0.58mi	4/1.5	1,930 (+8%)	3mo	$416,500	$216	55
10423 Crumpets Ln	0.48mi	4/3.0	2,042 (+14%)	1mo	$355,000	$174	50
11143 Granada Rd	0.75mi	3/2.0 (-1)	1,692 (-5%)	4mo	$410,000	$242	48
1928 Neptune Dr	0.58mi	3/2.5 (-1)	2,004 (+12%)	1mo	$394,950	$197	46
11135 Oakcrest Dr	0.69mi	4/2.5	2,040 (+14%)	0mo	$472,500	$232	42
1700 Greenfield Dr	0.74mi	3/3.5 (-1)	2,011 (+12%)	1mo	$440,000	$219	33

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 · 4.01% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.39×
• Total profit: $-59,384
• Equity at exit: $52,179

10-year hold

• IRR: -7.4%
• Equity multiple: 0.51×
• Total profit: $-47,550
• Equity at exit: $30,257

Cash invested: $97,986 (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 23235

• Rents YoY: 4.0%
• Active inventory: 169
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,654 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$199 /mo · $2,387/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-83

Break-even live

Break-even rent $2,759

Max offer price $335,264

Occupancy floor 98%

Sensitivity live

Price	-10% $115	-5% $16	+0% $-83	+5% $-182	+10% $-281
Rent	-10% $-293	-5% $-188	+0% $-83	+5% $22	+10% $127
Rate	-1.0pp $93	-0.5pp $6	base $-83	+0.5pp $-174	+1.0pp $-266

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: $87,488
• Closing costs: $10,498
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2222 Early Settlers Rd North Chesterfield, VA	4.0	2.5	1776	$2,850	$1.60	25d	1	0.34mi
10548 Ashburn Rd Unit N Richmond, VA	3.0	2.0	1575	$2,395	$1.52	5d	1	0.60mi
10637 Red Lion Pl North Chesterfield, VA	4.0	3.0	2000	$2,500	$1.25	45d	1	0.74mi
10192 Iron Mill Rd North Chesterfield, VA	3.0	2.5	1950	$1,995	$1.02	25d	1	0.75mi
1612 Greenfield Dr North Chesterfield, VA	3.0	2.5	1900	$2,695	$1.42	13d	1	0.81mi
2000 Breezy Point Cir North Chesterfield, VA	1.0–3.0	1.0–2.0	1023	$2,300	$2.25	3d	31	1.01mi
11900 Bellaverde Cir North Chesterfield, VA	1.0–3.0	1.0–2.0	1013	$1,999	$1.97	3d	21	1.07mi

Listing history 4 events

1. 2026-05-21
   status Pending
2. 2026-05-19
   listed $349,950 Active
3. 1988-11-21
   soldstatus $72,500
4. 1978-09-01
   soldstatus $44,548

ⓘ 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: $2,387 · $199/mo
• Projected year-2 tax: $2,870 · $239/mo
• Expected delta: +$483/yr (+$40/mo · 20.2%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $31,850
• − Mortgage interest: −$19,603
• − Property taxes: −$2,387
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,548
• − Management: −$2,548
• − Depreciation: −$10,180
• Taxable loss: −$7,166
• Est. tax savings @ 24.0%: +$1,720
• After-tax cash flow: $722/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: Chesterfield County Public School District
• NCES district ID: 5100840
• Math proficiency: 52% ▼ -30.00%
• Reading proficiency: 64% ▼ -15.00%
• Median HH income: $72,821
• Composite: 51.56/100
• National rank: #1712
• State rank: #57 of 131 in VA

Livability — Bon Air

• Score: 77/100
• State rank: #103
• US rank: #3251

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bon Air, VA
• County: Chesterfield County · 406,988 people
• City population: 33,207
• Metro: Richmond, VA
• Population (ZIP): 33,461
• Household income: $96,083
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 764.0

Population outlook (Chesterfield County) Hauer SSP2

• Today (2025): 377,190 people
• By 2030: 395,710 · +4.9%
• By 2040: 427,694 · +13.4%
• By 2050: 452,706 · +20.0%
• By 2075: 505,533 · +34.0%
• By 2100: 521,282 · +38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 16% Hispanic / Latino 8% Two or more races 5% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Serbian 2% Romanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 7% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Chesterfield

• 2024 margin: Lean D (+9.0) · D 53.8% · R 44.8% · Other 1.4%
• 2008→2024 swing: +16.4pp toward D · 2008: -7.5pp · 2024: 9.0pp
• All cycles: 2024: D+9.0 2020: D+6.7 2016: R+2.2 2012: R+7.1 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -276.72%
• Current HPI: 294.1809
• Rent YoY: ▲ 4.01%
• 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

+685.6% since first listed

4 events — show timeline

• 2026-05-21 Pending — CVRMLS
• 2026-05-19 Listed $349,950 CVRMLS
• 1988-11-21 Sold (Public Records) $72,500 Public Records
• 1978-09-01 Sold (Public Records) $44,548 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,387 · +6.6% YoY. Source: county tax records.