9688 Turning Point Dr Unit B · Short Pump, VA 23059

$381,335

3 bd · 2.5 ba · 2,345 sqft · Condo · 34 Days on market

Built 2026 $163/sqft · 23% below area Est $497k · 23% under $235/mo HOA · 8% of rent

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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 +6.6/30.0
• Schools +4.9/10.0
• Livability +4.5/5.0
• Rent growth +3.8/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to Stanley Martin at Virginia Center Commons. This bright and sunny Julianne condo, redefines condo living with the space and comfort of a townhome. Spanning the upper levels beginning on the 3rd floor, this stunning home features a gourmet kitchen with double wall ovens, a stainless steel hood, and upgraded GE appliances. A 12-foot quartz island becomes the heart of the home, perfect for cooking, entertaining, and gathering with friends. Sophisticated 42-inch painted cabinets and durable luxury vinyl plank flooring add style and ease throughout the main level, while a private study offers space to work or unwind. The open dining and family areas extend to a covered balcony, ideal for relaxing outdoors. With three bedrooms, an attached garage, and abundant natural light, the Julianne lives like a spacious townhome or even a single-family home. Located at The Village at Virginia Center on the reimagined site of Virginia Center Commons, you’ll be just minutes from shops, dining, Glover Park, and access to major highways. Schedule your visit today and see why the Julianne is the perfect place to call home. * Photos are of a similar model home

Key facts

• Open-concept design
• Covered balcony
• Laundry room

Tags

• COVERED BALCONY
• ELECTRIC FIREPLACE
• OPEN-CONCEPT DESIGN
• STUDY AND PANTRY
• LAUNDRY ROOM
• MAJOR COMMUTER ROUTES

Property features AI

Finance

• HOA & community: Homeowners association with a $235 monthly fee; HOA covers common areas, grounds and structure maintenance, sewer, snow removal, trash and water; Community amenities include clubhouse, playground, basketball court, common grounds and landscaping

Exterior

• Parking: Attached garage with 1 garage space; Driveway parking; Garage with garage door opener; Paved parking
• Utilities: Public water; Public sewer
• Home design: Two-story home; New construction / under construction; Attached property
• Construction: Frame, stone and vinyl siding exterior; Asphalt shingle roof; Slab foundation; New construction
• Exterior features: Paved driveway

Interior

• Kitchen: Kitchen island; Pantry; Eat-in kitchen; Solid surface counters
• Bedrooms: Second-floor bedrooms (multiple); Bedroom on second level noted as Bedroom 2; Bedroom on second level noted as Bedroom 3
• Flooring: Ceramic tile; Partially carpeted; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom; Second-floor full bath with tub and shower
• Heating & cooling: Electric heating; Heat pump cooling
• Interior features: Dining area; Double vanity; Eat-in kitchen; High ceilings; Kitchen island; Primary bedroom with attached bath; Pantry; Recessed lighting; Solid surface counters; Walk-in closets
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $381k.

Deal economics

• At list price, monthly cash flow is $-619 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (23.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $285k (25.3% below list).
• Recommended offer: $285k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 2.3% in Short Pump — 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 90/100 on livability (#3 in VA, #79 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: cost of living 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: Rivers Edge Elementary (math 85% / reading 90%, grade A+, #34 of 1,108 statewide, top 3%, 748 students, 9% FRL); Holman Middle (math 62% / reading 72%, grade A-, #103 of 342 statewide, top 31%, 850 students, 39% FRL); Deep Run High (math 72% / reading 95%, grade A, #30 of 319 statewide, top 10%, 2,027 students, 14% FRL).
• Zoned-school proficiency averages 79% at this address vs 56% district-wide (+23 pts) — the actual schools serving this property are materially stronger than the Henrico County Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.1%/yr); 331 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); high-income renter base; 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 $3k of loan paydown is wiped out by about $11k 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

• It's been on market 34 days — a 3% lower offer ($370k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $284,993 (25.3% 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. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 4.35%
• Cash-on-cash: -6.96%
• DSCR: 0.69
• GRM: 11.2

CMA / ARV

• ARV (median comp): $497,289
• List price: $381,335
• Delta: -23.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -25.7%
• Equity multiple: 0.11×
• Total profit: $-94,784
• Equity at exit: $56,858

10-year hold

• IRR: -16.1%
• Equity multiple: 0.01×
• Total profit: $-105,795
• Equity at exit: $32,971

Cash invested: $106,774 (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 23059

• Home prices YoY: -32.2%
• Rents YoY: 5.1%
• Active inventory: 331
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,850 high
• Mortgage (P&I): −$2,000
• Tax est. 1.5%: −$477 /mo · $5,720/yr
• Insurance: −$159
• HOA: −$235
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $-619

Break-even live

Break-even rent $3,633

Max offer price $291,783

Occupancy floor —

Sensitivity live

Price	-10% $-355	-5% $-487	+0% $-619	+5% $-751	+10% $-882
Rent	-10% $-844	-5% $-731	+0% $-619	+5% $-506	+10% $-394
Rate	-1.0pp $-427	-0.5pp $-522	base $-619	+0.5pp $-718	+1.0pp $-818

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: $95,334
• Closing costs: $11,440
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5421 Hickory Ann Dr Glen Allen, VA	3.0	4.0	2672	$2,950	$1.10	4d	1	0.11mi
1408 New Haven Ct Glen Allen, VA	3.0	2.5	1848	$2,295	$1.24	23d	1	0.44mi
5604 Benoni Ct Glen Allen, VA	3.0	2.5	1900	$2,999	$1.58	3d	1	0.47mi
11106 Swanee Mill Trce Glen Allen, VA	3.0	3.5	2220	$2,850	$1.28	13d	1	0.49mi
5307 Benmable Ct Glen Allen, VA	4.0	3.5	2439	$3,300	$1.35	3d	1	0.58mi
4925 Saddleridge Ct Glen Allen, VA	4.0	3.5	2700	$3,000	$1.11	45d	1	0.83mi
5525 Barnsley Ter Glen Allen, VA	4.0	3.0	2798	$3,400	$1.22	18d	1	0.94mi
850 Parkland Pl Glen Allen, VA	3.0	2.5	1760	$2,650	$1.51	13d	1	0.96mi
5442 Fuller Dr Glen Allen, VA	3.0	2.5	1760	$2,600	$1.48	19d	1	1.41mi
4436 Cedar Forest Rd Glen Allen, VA	4.0	2.5	2069	$2,850	$1.38	19d	1	1.42mi

HOA detail condo

• Monthly dues: $235 · $2,820/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-13
   statusdays on market $381,335 Pending 34 DOM
2. 2026-06-09
   days on market $381,335 Active 32 DOM
3. 2026-06-08
   days on market $381,335 Active 31 DOM
4. 2026-06-07
   days on market $381,335 Active 30 DOM
5. 2026-06-05
   days on market $381,335 Active 27 DOM
6. 2026-06-03
   days on market $381,335 Active 26 DOM
7. 2026-06-02
   days on market $381,335 Active 25 DOM
8. 2026-06-01
   days on market $381,335 Active 24 DOM
9. 2026-05-31
   days on market $381,335 Active 23 DOM
10. 2026-05-13
    soldstatus $411,000 Closed 1172-char remark
11. 2026-05-09
    price $379,835 1114-char remark

    Show marketing remark (1114 chars)

    Stanley Martin welcomes you home to Virginia Center Commons! This stunning interior home redefines condo living with the space and comfort of a townhome. This stunning home features a gourmet kitchen with double wall ovens, a stainless steel hood, and upgraded GE appliances. A 12-foot quartz island becomes the heart of the home, perfect for cooking, entertaining, and gathering with friends. Sophisticated 42-inch painted cabinets and durable luxury vinyl plank flooring add style and ease throughout the main level, while a private study offers space to work or unwind. The open dining and family areas extend to a covered balcony, ideal for relaxing outdoors. With three bedrooms, an attached garage, and abundant natural light, the Julianne lives like a spacious townhome or even a single-family home. Located at The Village at Virginia Center on the reimagined site of Virginia Center Commons, you’ll be just minutes from shops, dining, Glover Park, and access to major highways. Schedule your visit today and see why the Julianne is the perfect place to call home. * Photos are of a similar model home

12. 2026-05-08
    listed $381,335 Active
13. 2026-05-06
    status Pending

    Show marketing remark (1176 chars)

    Welcome home to Stanley Martin at Virginia Center Commons. This bright and sunny Julianne condo, redefines condo living with the space and comfort of a townhome. Spanning the upper levels beginning on the 3rd floor, this stunning home features a gourmet kitchen with double wall ovens, a stainless steel hood, and upgraded GE appliances. A 12-foot quartz island becomes the heart of the home, perfect for cooking, entertaining, and gathering with friends. Sophisticated 42-inch painted cabinets and durable luxury vinyl plank flooring add style and ease throughout the main level, while a private study offers space to work or unwind. The open dining and family areas extend to a covered balcony, ideal for relaxing outdoors. With three bedrooms, an attached garage, and abundant natural light, the Julianne lives like a spacious townhome or even a single-family home. Located at The Village at Virginia Center on the reimagined site of Virginia Center Commons, you’ll be just minutes from shops, dining, Glover Park, and access to major highways. Schedule your visit today and see why the Julianne is the perfect place to call home. * Photos are of a similar model home

14. 2026-04-29
    listed $381,335 Active
15. 2026-04-17
    price $399,835

    Show marketing remark (1114 chars)

    Stanley Martin welcomes you home to Virginia Center Commons! This stunning interior home redefines condo living with the space and comfort of a townhome. This stunning home features a gourmet kitchen with double wall ovens, a stainless steel hood, and upgraded GE appliances. A 12-foot quartz island becomes the heart of the home, perfect for cooking, entertaining, and gathering with friends. Sophisticated 42-inch painted cabinets and durable luxury vinyl plank flooring add style and ease throughout the main level, while a private study offers space to work or unwind. The open dining and family areas extend to a covered balcony, ideal for relaxing outdoors. With three bedrooms, an attached garage, and abundant natural light, the Julianne lives like a spacious townhome or even a single-family home. Located at The Village at Virginia Center on the reimagined site of Virginia Center Commons, you’ll be just minutes from shops, dining, Glover Park, and access to major highways. Schedule your visit today and see why the Julianne is the perfect place to call home. * Photos are of a similar model home

16. 2026-04-17
    price $398,835 1114-char remark

    Show marketing remark (1114 chars)

    Stanley Martin welcomes you home to Virginia Center Commons! This stunning interior home redefines condo living with the space and comfort of a townhome. This stunning home features a gourmet kitchen with double wall ovens, a stainless steel hood, and upgraded GE appliances. A 12-foot quartz island becomes the heart of the home, perfect for cooking, entertaining, and gathering with friends. Sophisticated 42-inch painted cabinets and durable luxury vinyl plank flooring add style and ease throughout the main level, while a private study offers space to work or unwind. The open dining and family areas extend to a covered balcony, ideal for relaxing outdoors. With three bedrooms, an attached garage, and abundant natural light, the Julianne lives like a spacious townhome or even a single-family home. Located at The Village at Virginia Center on the reimagined site of Virginia Center Commons, you’ll be just minutes from shops, dining, Glover Park, and access to major highways. Schedule your visit today and see why the Julianne is the perfect place to call home. * Photos are of a similar model home

17. 2026-04-06
    status Pending 1172-char remark
18. 2026-02-25
    listed $423,085 Active 1172-char remark

    Show marketing remark (1114 chars)

    Stanley Martin welcomes you home to Virginia Center Commons! This stunning interior home redefines condo living with the space and comfort of a townhome. This stunning home features a gourmet kitchen with double wall ovens, a stainless steel hood, and upgraded GE appliances. A 12-foot quartz island becomes the heart of the home, perfect for cooking, entertaining, and gathering with friends. Sophisticated 42-inch painted cabinets and durable luxury vinyl plank flooring add style and ease throughout the main level, while a private study offers space to work or unwind. The open dining and family areas extend to a covered balcony, ideal for relaxing outdoors. With three bedrooms, an attached garage, and abundant natural light, the Julianne lives like a spacious townhome or even a single-family home. Located at The Village at Virginia Center on the reimagined site of Virginia Center Commons, you’ll be just minutes from shops, dining, Glover Park, and access to major highways. Schedule your visit today and see why the Julianne is the perfect place to call home. * Photos are of a similar model home

19. 2026-02-25
    listed $403,835 Active 1114-char remark

    Show marketing remark (1114 chars)

    Stanley Martin welcomes you home to Virginia Center Commons! This stunning interior home redefines condo living with the space and comfort of a townhome. This stunning home features a gourmet kitchen with double wall ovens, a stainless steel hood, and upgraded GE appliances. A 12-foot quartz island becomes the heart of the home, perfect for cooking, entertaining, and gathering with friends. Sophisticated 42-inch painted cabinets and durable luxury vinyl plank flooring add style and ease throughout the main level, while a private study offers space to work or unwind. The open dining and family areas extend to a covered balcony, ideal for relaxing outdoors. With three bedrooms, an attached garage, and abundant natural light, the Julianne lives like a spacious townhome or even a single-family home. Located at The Village at Virginia Center on the reimagined site of Virginia Center Commons, you’ll be just minutes from shops, dining, Glover Park, and access to major highways. Schedule your visit today and see why the Julianne is the perfect place to call home. * Photos are of a similar model home

20. 2026-02-25
    listed $401,835 Active

    Show marketing remark (1114 chars)

    Stanley Martin welcomes you home to Virginia Center Commons! This stunning interior home redefines condo living with the space and comfort of a townhome. This stunning home features a gourmet kitchen with double wall ovens, a stainless steel hood, and upgraded GE appliances. A 12-foot quartz island becomes the heart of the home, perfect for cooking, entertaining, and gathering with friends. Sophisticated 42-inch painted cabinets and durable luxury vinyl plank flooring add style and ease throughout the main level, while a private study offers space to work or unwind. The open dining and family areas extend to a covered balcony, ideal for relaxing outdoors. With three bedrooms, an attached garage, and abundant natural light, the Julianne lives like a spacious townhome or even a single-family home. Located at The Village at Virginia Center on the reimagined site of Virginia Center Commons, you’ll be just minutes from shops, dining, Glover Park, and access to major highways. Schedule your visit today and see why the Julianne is the perfect place to call home. * Photos are of a similar model home

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,199
• − Mortgage interest: −$21,361
• − Property taxes: −$5,720
• − Insurance: −$1,907
• − Repairs & maintenance: −$2,736
• − Management: −$2,736
• − HOA: −$2,820
• − Depreciation: −$11,093
• Taxable loss: −$14,173
• Est. tax savings @ 24.0%: +$3,402
• After-tax cash flow: $-4,025/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 — Short Pump

• Score: 90/100
• State rank: #3
• US rank: #79

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hanover County · 134,767 people
• City population: 31,775
• Metro: Richmond, VA
• Population (ZIP): 42,522
• Household income: $157,897
• Rent vs Own: 21.6% rent · 78.4% own
• Severe rent burden: 406.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Asian 25% Black 8% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Italian 2% Romanian 2%
• Foreign-born: 22% · Canada, China, South Korea
• Languages at home: 77% English-only · Other Asian/Pacific 9% Other Indo-European 6% Chinese 2%

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: ▼ -114.87%
• Current HPI: 242.061
• Rent YoY: ▲ 5.13%
• 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

-0.5% since first listed

13 events — show timeline

• 2026-06-11 Pending — CVRMLS
• 2026-06-10 Sold (MLS) $399,835 CVRMLS
• 2026-05-26 Pending — CVRMLS
• 2026-05-13 Sold (MLS) $411,000 CVRMLS
• 2026-05-09 Price Changed $379,835 CVRMLS
• 2026-05-08 Listed $381,335 CVRMLS
• 2026-05-06 Pending — CVRMLS
• 2026-04-17 Price Changed $399,835 CVRMLS
• 2026-04-17 Price Changed $398,835 CVRMLS
• 2026-04-06 Pending — CVRMLS
• 2026-02-25 Listed $423,085 CVRMLS
• 2026-02-25 Listed $403,835 CVRMLS
• 2026-02-25 Listed $401,835 CVRMLS