915 Harbour North Dr · Chesapeake, VA 23320

$268,000

4 bd · 3.0 ba · 1,914 sqft · Townhouse public records · 22 Days on market

Built 1970 7,143 sqft lot Est $385k · 30% under

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Why this score? — see what drove the B- 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• Schools +5.8/10.0
• 1% rule +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare to find an end unit townhome on 0.16 Acre lot in Great Bridge area minutes to freeway I-64, I-464, to Greenbrier mall features a bedroom and a full bathroom on the first floor. Like new kitchen cabinets, SS appliances. Less than 5 years old roof, heat pump central HVAC, electric water heater, vinyl windows. Second floor has a master suite with a sitting or baby room or an office with 2 separate walk-in closets and 3 good size bedrooms with a full bathroom. 3% closing cost assistance for TLC

Key facts

• End unit townhome
• 0.16 acre lot
• First floor bathroom

Tags

• END UNIT TOWNHOME
• 0.16 ACRE LOT
• FIRST FLOOR BEDROOM
• FIRST FLOOR BATHROOM
• NEW KITCHEN CABINETS
• SS APPLIANCES

Property features AI

Finance

• HOA & community: No HOA/POA fees indicated

Exterior

• Parking: Off-street parking for 3 vehicles
• Utilities: City/County sewer; City/County water; Electric water heater
• Home design: Attached townhouse; 2 stories; Two living levels; Slab foundation; Insulation: concrete formed
• Construction: Brick and vinyl exterior siding; Asphalt shingle roof
• Exterior features: Located on a cul-de-sac; Patio; Back fenced yard

Interior

• Kitchen: Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: Master bedroom with bath; First floor bedroom (1st FBR); Attic (additional room/space)
• Flooring: Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump for heating; Heat pump for cooling
• Interior features: Cable hookup; Ceiling fan; One fireplace; Vinyl flooring
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $268k.

Deal economics

• At list price, monthly cash flow is $25 ($302/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 $268k (0.0% below list).
• Recommended offer: $264k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.8% in Chesapeake — 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 70/100 on livability (#236 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, cost of living C-, amenities F.
• Chesapeake City Public School District (suburban): math 58% / reading 74% proficiency, ranked #31 of 131 in VA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Deep Creek Elementary (math 66% / reading 72%, grade A-, #351 of 1,108 statewide, top 32%, 763 students, 45% FRL); Great Bridge High (math 60% / reading 87%, grade B+, #124 of 319 statewide, top 40%, 1,624 students, 25% FRL).
• Market conditions: Rents rising fast (+7.8%/yr); 286 active listings in the ZIP; 16 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; 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($84k/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.
• Chesapeake County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 5 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 $95k; list at $268k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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 $263,980 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.00% ✗
• Cap rate: 8.32%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $384,714
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 Albertine Ct Unit 14A	0.21mi	3/2.5 (-1)	1,741 (-9%)	6mo	$350,000	$201	63

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 · 7.78% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.63×
• Total profit: $-28,134
• Equity at exit: $39,960

10-year hold

• IRR: 5.7%
• Equity multiple: 1.53×
• Total profit: $39,503
• Equity at exit: $23,172

Cash invested: $75,040 (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 23320

• Rents YoY: 7.8%
• Active inventory: 286
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,679 high
• Mortgage (P&I): −$1,405
• Tax from tax record: −$147 /mo · $1,769/yr
• Insurance: −$112
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $25

Break-even live

Break-even rent $2,647

Max offer price $268,000

Occupancy floor 94%

Sensitivity live

Price	-10% $177	-5% $101	+0% $25	+5% $-51	+10% $-127
Rent	-10% $-186	-5% $-81	+0% $25	+5% $131	+10% $237
Rate	-1.0pp $160	-0.5pp $93	base $25	+0.5pp $-44	+1.0pp $-115

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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 Albertine Ct Chesapeake, VA	3.0	2.5	1750	$2,795	$1.60	18d	1	0.26mi
906 Wickford Dr Chesapeake, VA	3.0	1.5	1300	$1,950	$1.50	18d	1	0.66mi
617 Lord Nelson Ct Chesapeake, VA	3.0	2.5	1840	$2,595	$1.41	5d	1	0.80mi
601 Lord Byron Ct Chesapeake, VA	3.0	2.5	1840	$2,545	$1.38	16d	1	0.82mi
824 Huntly Dr Chesapeake, VA	3.0	1.5	1268	$1,750	$1.38	17d	1	0.83mi
1416 Cole Dr Chesapeake, VA	3.0	2.0	1732	$2,600	$1.50	24d	1	0.88mi
1133 Lady Ashley Dr Chesapeake, VA	3.0	3.0	2000	$2,695	$1.35	8d	1	0.91mi
1133 Lady Ashley Dr Chesapeake, VA	3.0	2.5	1950	$2,695	$1.38	24d	1	0.91mi
1129 Crystalwood Cir Chesapeake, VA	4.0	3.0	2592	$3,100	$1.20	8d	1	1.21mi
1129 Crystalwood Cir Chesapeake, VA	4.0	2.5	2592	$3,100	$1.20	22d	1	1.21mi
1240 Basswood Ct Chesapeake, VA	3.0	1.5	1296	$1,925	$1.49	16d	1	1.39mi
103 Duffield Pl Chesapeake, VA	3.0	2.0	1372	$2,200	$1.60	24d	1	1.42mi
1736 Defiance Dr Chesapeake, VA	3.0	2.5	1720	$2,500	$1.45	24d	1	1.43mi
1751 Fortune Ter Chesapeake, VA	3.0	3.0	2036	$2,795	$1.37	5d	1	1.47mi
1751 Fortune Ter Unit 1 Chesapeake, VA	3.0	2.5	2036	$2,795	$1.37	5d	1	1.47mi
309 Lenore Trl Chesapeake, VA	3.0	2.0	1506	$2,500	$1.66	16d	1	1.49mi

Listing history 14 events

1. 2026-06-21
   days on market $268,000 Active 22 DOM
2. 2026-06-18
   days on market $268,000 Active 19 DOM
3. 2026-06-17
   days on market $268,000 Active 18 DOM
4. 2026-06-16
   days on market $268,000 Active 17 DOM
5. 2026-06-15
   days on market $268,000 Active 16 DOM
6. 2026-06-13
   days on market $268,000 Active 14 DOM
7. 2026-06-09
   days on market $268,000 Active 10 DOM
8. 2026-06-08
   days on market $268,000 Active 9 DOM
9. 2026-06-07
   days on market $268,000 Active 8 DOM
10. 2026-06-03
    days on market $268,000 Active 4 DOM
11. 2026-06-02
    days on market $268,000 Active 3 DOM
12. 2026-06-01
    days on market $268,000 Active 2 DOM
13. 2026-05-31
    remarks 501-char remark
14. 2026-05-31
    listed $268,000 Active 1 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: $1,769 · $147/mo
• Projected year-2 tax: $2,198 · $183/mo
• Expected delta: +$429/yr (+$36/mo · 24.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 13% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,144
• − Mortgage interest: −$15,012
• − Property taxes: −$1,769
• − Insurance: −$6,458
• − Repairs & maintenance: −$2,572
• − Management: −$2,572
• − Depreciation: −$7,796
• Taxable loss: −$4,034
• Est. tax savings @ 24.0%: +$968
• After-tax cash flow: $1,270/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: Chesapeake City Public School District
• NCES district ID: 5100810
• Math proficiency: 58% ▼ -29.00%
• Reading proficiency: 74% ▼ -7.00%
• Median HH income: $69,356
• Composite: 57.84/100
• National rank: #1047
• State rank: #31 of 131 in VA

Livability — Chesapeake

• Score: 70/100
• State rank: #236
• US rank: #7942

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chesapeake, VA
• County: Chesapeake City · 253,091 people
• City population: 253,091
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 59,108
• Household income: $84,305
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 2714.0

Population outlook (Chesapeake County) Hauer SSP2

• Today (2025): 263,804 people
• By 2030: 276,798 · +4.9%
• By 2040: 299,906 · +13.7%
• By 2050: 318,284 · +20.7%
• By 2075: 362,137 · +37.3%
• By 2100: 372,225 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 49% Black 29% Hispanic / Latino 10% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 9% · Canada
• Languages at home: 89% English-only · Spanish 6% Tagalog/Filipino 2% French/Haitian/Cajun 1%

Political lean MEDSL · Chesapeake

• 2024 margin: Toss-up / Even · D 51.3% · R 47.5% · Other 1.2%
• 2008→2024 swing: +2.5pp toward D · 2008: 1.3pp · 2024: 3.8pp
• All cycles: 2024: D+3.8 2020: D+6.5 2016: R+1.3 2012: D+1.1 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -241.43%
• Current HPI: 285.5792
• Rent YoY: ▲ 7.78%
• 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

+737.5% since first listed

13 events — show timeline

• 2026-05-30 Listed $268,000 REINMLS
• 2021-08-04 Sold (Public Records) $95,000 Public Records
• 2021-02-19 Pending — REINMLS
• 2021-02-08 Relisted — REINMLS
• 2020-12-08 Pending — REINMLS
• 2020-06-30 Price Changed $95,000 REINMLS
• 2020-06-30 Relisted — REINMLS
• 2020-06-12 Listing Removed — REINMLS
• 2019-06-20 Relisted — REINMLS
• 2019-06-12 Listing Removed — REINMLS
• 2017-06-13 Listed $100,000 REINMLS
• 1975-12-04 Sold (Public Records) $31,400 Public Records
• 1975-01-21 Sold (Public Records) $32,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,769 · +11.3% YoY. Source: county tax records.