400 Newbridge Ter · Highland Springs, VA 23223

$149,950

3 bd · 1.0 ba · 1,057 sqft · Townhouse public records · 21 Days on market

Built 1983 3,319 sqft lot $142/sqft · 19% below area Est $185k · 19% under $132/mo HOA · 8% of rent

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.5/10.0
• Schools +4.9/10.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great end unit with loft area, spiral staircase, privacy fence, storage shed and more. Unit is currently rented but tenant can be out withen 45 days.

Key facts

• Spacious great room
• End-unit townhome
• Spiral staircase

Tags

• END-UNIT TOWNHOME
• SPACIOUS GREAT ROOM
• SPIRAL STAIRCASE
• FENCED REAR YARD

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $132; HOA fee includes common area maintenance and insurance; Community governed by a homeowners association

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story; Attached property
• Construction: Frame construction with drywall and wood siding; Composition roof; Slab foundation; Built (actual year recorded)
• Exterior features: Deck; Fenced yard with privacy fencing

Interior

• Kitchen: Refrigerator; Range hood; Stove
• Bedrooms: Bedroom/loft area on the second level; Bedroom on the first level
• Flooring: Laminate
• Bathrooms: One full bathroom (tub and shower)
• Heating & cooling: Heat pump and electric heating; Central air conditioning
• Interior features: Laminate flooring; Tub & shower in full bath; Resale condition
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.9% in Highland Springs — 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 (#196 in VA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, amenities F, health & safety 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: Highland Springs Elementary (math 8% / reading 22%, grade F, #1,098 of 1,108 statewide, top 100%, 532 students, 88% FRL); Fairfield Middle (math 29% / reading 43%, grade F, #326 of 342 statewide, top 95%, 987 students, 85% FRL); Highland Springs High (math 33% / reading 67%, grade D+, #298 of 319 statewide, top 93%, 2,089 students, 88% FRL) — zoned schools average 87% FRL vs 34% district-wide (53 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 56% district-wide (-23 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 (+6.4%/yr); 343 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,826 units permitted in Henrico County in 2024 (785 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $150k implies a 58% 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 $147,700 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.58%
• DSCR: 1.34
• GRM: 7.3

CMA / ARV

• ARV (median comp): $185,231
• List price: $149,950
• Delta: -19.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
904 Winterstick Pl #904	0.22mi	3/1.5	980 (-7%)	3mo	$130,000	$133	73
821 Pleasant St	0.26mi	2/1.5 (-1)	1,102 (+4%)	2mo	$181,500	$165	72
420 Newbridge Ter	0.05mi	3/1.5	1,178 (+11%)	12mo	$208,500	$177	66
438 Hickorywood Cir	0.15mi	3/2.0	1,178 (+11%)	18mo	$205,000	$174	55
439 Newbridge Ter	0.08mi	2/1.5 (-1)	1,178 (+11%)	20mo	$190,000	$161	53

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 · 6.38% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,279
• Equity at exit: $22,358

10-year hold

• IRR: 12.3%
• Equity multiple: 2.13×
• Total profit: $47,546
• Equity at exit: $12,965

Cash invested: $41,986 (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 23223

• Rents YoY: 6.4%
• Active inventory: 343
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,723 high
• Mortgage (P&I): −$786
• Tax from tax record: −$115 /mo · $1,377/yr
• Insurance: −$62
• HOA: −$132
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $265

Break-even live

Break-even rent $1,387

Max offer price $149,950

Occupancy floor 80%

Sensitivity live

Price	-10% $350	-5% $308	+0% $265	+5% $223	+10% $180
Rent	-10% $129	-5% $197	+0% $265	+5% $333	+10% $401
Rate	-1.0pp $341	-0.5pp $303	base $265	+0.5pp $226	+1.0pp $187

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: $37,488
• Closing costs: $4,498
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5951 Tiger Lily Ln Richmond, VA	2.0–3.0	2.0	1080	$1,592	$1.47	3d	12	0.22mi
1005 W Nine Mile Rd Unit J Henrico, VA	2.0	1.0	783	$1,395	$1.78	25d	1	0.61mi
1005 W Nine Mile Rd Henrico, VA	2.0	1.0	783	$1,345	$1.72	45d	1	0.61mi
120 Barker Ave Richmond, VA	3.0	1.0	1064	$1,597	$1.50	5d	1	0.78mi
210 Natchez Rd Richmond, VA	3.0	1.0	1080	$1,850	$1.71	5d	1	0.94mi
339 E Jerald St Henrico, VA	3.0	1.5	1160	$1,950	$1.68	45d	1	1.02mi
315 Natchez Rd Richmond, VA	3.0	1.5	1176	$1,995	$1.70	25d	1	1.05mi
132 N Elm Ave Henrico, VA	3.0	1.0	840	$1,629	$1.94	45d	1	1.10mi
205 Bridge St Henrico, VA	3.0	2.0	1242	$1,850	$1.49	12d	1	1.11mi
117 N Ivy Ave Henrico, VA	3.0	1.0	980	$1,590	$1.62	5d	1	1.15mi
118 N Linden Ave Henrico, VA	3.0	1.5	1080	$1,795	$1.66	45d	1	1.21mi
901 E 9 Mile Rd Unit a Highland Springs, VA	2.0	1.0	800	$1,312	$1.64	23d	1	1.24mi
500 S Laburnum Ave Richmond, VA	3.0	1.5	1000	$1,950	$1.95	21d	1	1.32mi
11 N Laburnum Ave Richmond, VA	2.0	1.0	784	$1,339	$1.71	4d	20	1.44mi
4704 Greenleigh Rd Richmond, VA	3.0	1.5	1188	$2,200	$1.85	18d	1	1.45mi

HOA detail

• Monthly dues: $132 · $1,584/yr

Listing history 23 events

1. 2026-06-21
   statusdays on market $149,950 Pending 21 DOM
2. 2026-06-18
   days on market $149,950 Active 20 DOM
3. 2026-06-17
   days on market $149,950 Active 19 DOM
4. 2026-06-16
   days on market $149,950 Active 18 DOM
5. 2026-06-15
   days on market $149,950 Active 17 DOM
6. 2026-06-13
   days on market $149,950 Active 15 DOM
7. 2026-06-09
   days on market $149,950 Active 11 DOM
8. 2026-06-08
   days on market $149,950 Active 10 DOM
9. 2026-06-07
   days on market $149,950 Active 9 DOM
10. 2026-06-05
    days on market $149,950 Active 6 DOM
11. 2026-06-03
    days on market $149,950 Active 5 DOM
12. 2026-06-02
    status $149,950 Active 4 DOM
13. 2026-05-07
    status Pending 409-char remark
14. 2026-05-01
    listed $149,950 Active 409-char remark
15. 2007-01-30
    soldstatus $95,000 149-char remark

    Show marketing remark (149 chars)

    Great end unit with loft area, spiral staircase, privacy fence, storage shed and more. Unit is currently rented but tenant can be out withen 45 days.

16. 2007-01-30
    soldstatus $95,000

    Show marketing remark (149 chars)

    Great end unit with loft area, spiral staircase, privacy fence, storage shed and more. Unit is currently rented but tenant can be out withen 45 days.

17. 2007-01-29
    soldstatus $95,000
18. 2006-11-17
    listed $92,500 149-char remark

    Show marketing remark (149 chars)

    Great end unit with loft area, spiral staircase, privacy fence, storage shed and more. Unit is currently rented but tenant can be out withen 45 days.

19. 2006-11-17
    listed $92,500

    Show marketing remark (149 chars)

    Great end unit with loft area, spiral staircase, privacy fence, storage shed and more. Unit is currently rented but tenant can be out withen 45 days.

20. 2003-08-12
    soldstatus $64,900
21. 2000-12-22
    soldstatus $55,000
22. 1995-12-01
    soldstatus $54,950
23. 1989-08-01
    soldstatus $51,900

ⓘ 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: $1,377 · $115/mo
• Projected year-2 tax: $1,377 · $115/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,672
• − Mortgage interest: −$8,400
• − Property taxes: −$1,377
• − Insurance: −$750
• − Repairs & maintenance: −$1,654
• − Management: −$1,654
• − HOA: −$1,584
• − Depreciation: −$4,362
• Taxable income: $892
• Est. tax owed @ 24.0%: −$214
• After-tax cash flow: $2,970/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 — Highland Springs

• Score: 72/100
• State rank: #196
• US rank: #6085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland Springs, VA
• County: Henrico County · 334,490 people
• City population: 8,347
• Metro: Richmond, VA
• Population (ZIP): 54,659
• Household income: $55,731
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3530.0

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 (71%)
• Race & ethnicity: Black 71% White 19% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -257.81%
• Current HPI: 324.0589
• Rent YoY: ▲ 6.38%
• 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

+188.9% since first listed

12 events — show timeline

• 2026-06-02 Relisted — CVRMLS
• 2026-05-07 Pending — CVRMLS
• 2026-05-01 Listed $149,950 CVRMLS
• 2007-01-30 Sold (MLS) $95,000 CVRMLS
• 2007-01-30 Sold (MLS) $95,000 CVRMLS
• 2007-01-29 Sold (Public Records) $95,000 Public Records
• 2006-11-17 Listed $92,500 CVRMLS
• 2006-11-17 Listed $92,500 CVRMLS
• 2003-08-12 Sold (Public Records) $64,900 Public Records
• 2000-12-22 Sold (Public Records) $55,000 Public Records
• 1995-12-01 Sold (Public Records) $54,950 Public Records
• 1989-08-01 Sold (Public Records) $51,900 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,377 · +24.4% YoY. Source: county tax records.