789 Meade Ln · Virginia Beach, VA 23455

$335,000

3 bd · 1.5 ba · 1,632 sqft · SingleFamily public records · 34 Days on market

Built 1958 Est $415k · 19% 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 +11.0/30.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Why rent when you can own with a 4.25% VA assumable loan? This charming 3-bedroom, 1.5-bath home offers the perfect blend of comfort and versatility. The third bedroom has been virtually staged to showcase its potential and can function as a bedroom, office, guest room, or hobby space. Enjoy relaxing on the freshly painted deck overlooking the well-maintained yard. Need storage? You'll love the two detached sheds, spacious walk-up attic, and encapsulated crawl space with dehumidifier. Roof and HVAC have been updated, providing peace of mind for years to come. Seller to make no repairs.

Key facts

• Newer roof
• Detached sheds
• Well kept yard

Tags

• WELL KEPT YARD
• RECENTLY PAINTED DECK
• DETACHED SHEDS
• NEWER HVAC SYSTEM
• NEWER ROOF

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Off-street parking; Driveway spaces; Street parking; Space for 4 vehicles
• Utilities: City/County water; City/County sewer; Gas water heater; Electric service (standard)
• Home design: Detached single-family home; Ranch style; One living level; 1 story
• Construction: Brick and vinyl siding; Asphalt shingle roof; Crawl foundation (sealed/encapsulated crawl space); Built as a detached property
• Exterior features: Deck; Storage shed; Back yard partially fenced with chain link

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on first floor
• Flooring: Laminate; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air
• Interior features: Cable hookup; Ceiling fan; Dual-entry bath (between bedroom and hall); Attic; Converted garage
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (28.5% below list).
• Recommended offer: $239k (28.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.5% in Virginia Beach — 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 83/100 on livability (#38 in VA, #880 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, housing A+; Watch: cost of living C-, commute F.
• Va Beach City Public School District (urban): math 69% / reading 78% proficiency, ranked #10 of 131 in VA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Luxford Elementary (math 52% / reading 57%, grade C, #650 of 1,108 statewide, top 62%, 508 students, 68% FRL); Bayside High (math 63% / reading 75%, grade B, #170 of 319 statewide, top 55%, 1,983 students, 65% FRL) — zoned schools average 67% FRL vs 28% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 204 active listings in the ZIP; 40 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; 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).
• This rent runs 31% of the median local income ($94k/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.
• Virginia Beach County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $205k; list at $335k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 95% 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 $239,440 (28.5% 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 29% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $414,528
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
881 Hopwood Ln	0.24mi	3/1.5	1,662 (+2%)	2mo	$347,000	$209	84
769 Brinson Arch	0.04mi	4/2.0 (+1)	1,456 (-11%)	0mo	$390,000	$268	73
824 Aragona Blvd	0.17mi	3/2.0	1,400 (-14%)	3mo	$357,000	$255	64
536 Berrypick Ln	0.54mi	3/2.0	1,568 (-4%)	3mo	$277,200	$177	64
4945 Whitman Ln	0.33mi	3/1.0	1,435 (-12%)	1mo	$288,750	$201	61
4928 Clover St	0.52mi	4/2.0 (+1)	1,555 (-5%)	2mo	$302,000	$194	59
652 Kenneth Rd	0.52mi	4/3.0 (+1)	1,541 (-6%)	2mo	$400,000	$260	53
5104 Holly Farms Dr	0.55mi	3/2.0	1,424 (-13%)	2mo	$380,000	$267	49
4833 Linshaw Ln	0.55mi	3/2.0	1,400 (-14%)	2mo	$355,000	$254	47
5149 Holly Farms Dr	0.67mi	3/2.0	1,820 (+12%)	3mo	$376,111	$207	45
637 Cunningham Rd	0.60mi	4/2.0 (+1)	1,450 (-11%)	3mo	$396,000	$273	44
629 Kenneth Rd	0.60mi	4/1.0 (+1)	1,414 (-13%)	3mo	$290,000	$205	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 · 5.93% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.40×
• Total profit: $-56,239
• Equity at exit: $49,950

10-year hold

• IRR: -4.3%
• Equity multiple: 0.68×
• Total profit: $-29,560
• Equity at exit: $28,965

Cash invested: $93,800 (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 23455

• Rents YoY: 5.9%
• Active inventory: 204
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,394 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-143

Break-even live

Break-even rent $2,575

Max offer price $309,804

Occupancy floor —

Sensitivity live

Price	-10% $47	-5% $-48	+0% $-143	+5% $-237	+10% $-332
Rent	-10% $-332	-5% $-237	+0% $-143	+5% $-48	+10% $47
Rate	-1.0pp $26	-0.5pp $-57	base $-143	+0.5pp $-229	+1.0pp $-318

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4606 Merrimac Ln Virginia Beach, VA	2.0	2.5	1240	$2,150	$1.73	24d	1	0.28mi
814 Gable Way Virginia Beach, VA	3.0	2.5	1452	$2,200	$1.52	24d	1	0.37mi
825 Crossing Ct Virginia Beach, VA	1.0–3.0	1.0–2.0	937	$2,499	$2.67	24d	1	0.41mi
4857 Westgrove Rd Virginia Beach, VA	4.0	2.0	1378	$2,450	$1.78	3d	1	0.44mi
4932 Westgrove Rd Virginia Beach, VA	4.0	2.5	1400	$2,450	$1.75	24d	1	0.49mi
800 Saint Denis Ct Virginia Beach, VA	3.0	2.5	1750	$1,950	$1.11	24d	1	0.74mi
4733 Adler Ave Virginia Beach, VA	3.0	1.0	1150	$1,995	$1.73	22d	1	0.81mi
4409 Articles Ln Virginia Beach, VA	3.0	1.5	1332	$2,650	$1.99	3d	1	0.85mi
924 Southmoor Dr #204 Virginia Beach, VA	2.0	2.0	1367	$1,950	$1.43	22d	1	0.86mi
912 Southmoor Dr #204 Virginia Beach, VA	2.0	2.0	1367	$1,810	$1.32	12d	1	0.86mi
920 Southmoor Dr #305 Virginia Beach, VA	2.0	2.0	1367	$1,900	$1.39	18d	1	0.86mi
604 Cambria Ct Virginia Beach, VA	4.0	2.0	1910	$2,895	$1.52	24d	1	0.87mi
913 Ewell Rd Virginia Beach, VA	3.0	2.5	1458	$2,000	$1.37	5d	1	0.89mi
5212 Nuthall Dr #103 Virginia Beach, VA	2.0	2.0	1367	$1,895	$1.39	15d	1	0.90mi
5300 Warminster Dr #205 Virginia Beach, VA	2.0	2.0	1366	$1,750	$1.28	2d	1	0.95mi
5300 Warminster Dr #205 Virginia Beach, VA	2.0	2.0	1366	$1,795	$1.31	13d	1	0.95mi
1028 Grace Hill Dr Virginia Beach, VA	3.0	2.5	1809	$2,895	$1.60	24d	1	1.01mi
5317 Warminster Dr #303 Virginia Beach, VA	2.0	2.0	1350	$1,997	$1.48	22d	1	1.01mi
1001 Grace Hill Dr Virginia Beach, VA	3.0	2.5	1778	$2,350	$1.32	4d	1	1.05mi
5152 Whitaker Pl Virginia Beach, VA	3.0	2.5	2151	$2,750	$1.28	24d	1	1.06mi
5152 Whitaker Pl Virginia Beach, VA	3.0	2.5	2151	$2,700	$1.26	18d	1	1.06mi
1188 Grace Hill Dr Virginia Beach, VA	3.0	2.5	1805	$2,600	$1.44	5d	1	1.08mi
5328 Tamworth Pl Virginia Beach, VA	3.0	2.5	1857	$2,400	$1.29	24d	1	1.08mi
5416 Sweetwater Ct Virginia Beach, VA	4.0	2.5	1704	$2,495	$1.46	24d	1	1.09mi
5421 Sweetwater Ct Virginia Beach, VA	3.0	2.5	1704	$2,500	$1.47	3d	1	1.12mi
5325 Brinsley Ln Virginia Beach, VA	3.0	2.5	1619	$2,500	$1.54	13d	1	1.13mi
5509 Bulls Bay Dr Virginia Beach, VA	3.0	2.5	1694	$2,599	$1.53	12d	1	1.13mi
5509 Bulls Bay Dr Unit 1 Virginia Beach, VA	3.0	2.0	1694	$2,599	$1.53	5d	1	1.13mi
5414 Catina Arch Virginia Beach, VA	1.0–4.0	1.0–1.5	866	$1,997	$2.31	3d	10	1.17mi
5493 Port Royal Dr Virginia Beach, VA	3.0	2.5	2020	$2,950	$1.46	24d	1	1.19mi
5332 Bramcote Pl Unit 1 Virginia Beach, VA	3.0	2.5	1857	$2,695	$1.45	24d	1	1.19mi
700 Wolftrap Ln Virginia Beach, VA	2.0	2.5	1360	$1,795	$1.32	17d	1	1.22mi
700 Wolftrap Ln Virginia Beach, VA	2.0	3.0	1360	$1,795	$1.32	13d	1	1.22mi
700 Wolftrap Ln Virginia Beach, VA	2.0	2.5	1360	$1,795	$1.32	24d	1	1.22mi
449 Peregrine St Virginia Beach, VA	3.0	2.0	1400	$1,995	$1.43	17d	1	1.26mi
337 Dorset Ave Virginia Beach, VA	3.0	1.0	1180	$1,700	$1.44	8d	1	1.26mi
5517 Lynbrook Lndg Virginia Beach, VA	3.0	2.5	1360	$2,335	$1.72	24d	1	1.29mi
5212 Richard Rd Virginia Beach, VA	3.0	2.5	1372	$2,100	$1.53	22d	1	1.29mi
5206 Richard Rd Virginia Beach, VA	3.0	1.5	1240	$1,795	$1.45	22d	1	1.29mi
5416 Safe Harbour Way Virginia Beach, VA	3.0	2.5	1686	$2,500	$1.48	2d	1	1.30mi

Listing history 21 events

1. 2026-06-07
   statusdays on market $335,000 Under Contract 34 DOM
2. 2026-06-03
   days on market $335,000 Active Under Contract 33 DOM
3. 2026-06-02
   days on market $335,000 Active Under Contract 32 DOM
4. 2026-06-01
   days on market $335,000 Active Under Contract 31 DOM
5. 2026-05-31
   days on market $335,000 Active Under Contract 30 DOM
6. 2026-05-21
   price $335,000
7. 2026-05-01
   listed $355,000 Active
8. 2024-03-21
   historical
9. 2024-03-17
   price $360,000
10. 2024-03-12
    listed $365,000 Active
11. 2018-09-28
    soldstatus $205,000
12. 2018-09-05
    status Under Contract
13. 2018-06-15
    price $205,000
14. 2018-05-05
    price $210,000
15. 2018-04-19
    listed $225,000 Active
16. 2015-10-16
    soldstatus $185,500
17. 2015-10-15
    soldstatus $185,500 Sold
18. 2015-09-23
    status Under Contract
19. 2015-09-18
    historical
20. 2015-08-21
    listed $189,900 Active
21. 1976-12-22
    soldstatus $27,950

ⓘ 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: $1,654 · $138/mo
• Projected year-2 tax: $2,747 · $229/mo
• Expected delta: +$1,093/yr (+$91/mo · 66.1%)

ⓘ 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 9/10 Extreme 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 95% 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: $28,733
• − Mortgage interest: −$18,765
• − Property taxes: −$1,654
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,299
• − Management: −$2,299
• − Depreciation: −$9,745
• Taxable loss: −$7,704
• Est. tax savings @ 24.0%: +$1,849
• After-tax cash flow: $137/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: Va Beach City Public School District
• NCES district ID: 5103840
• Math proficiency: 69% ▼ -19.00%
• Reading proficiency: 78% ▼ -7.00%
• Median HH income: $66,452
• Composite: 63.81/100
• National rank: #594
• State rank: #10 of 131 in VA

Livability — Virginia Beach

• Score: 83/100
• State rank: #38
• US rank: #880

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Virginia Beach, VA
• County: Virginia Beach City · 448,227 people
• City population: 448,227
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 49,977
• Household income: $94,069
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1820.0

Population outlook (Virginia Beach County) Hauer SSP2

• Today (2025): 480,401 people
• By 2030: 491,221 · +2.3%
• By 2040: 504,882 · +5.1%
• By 2050: 508,847 · +5.9%
• By 2075: 504,831 · +5.1%
• By 2100: 465,867 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 14% Two or more races 7% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% Tagalog/Filipino 2% Other Indo-European 1%

Political lean MEDSL · Virginia Beach

• 2024 margin: Toss-up / Even · D 50.7% · R 48.0% · Other 1.3%
• 2008→2024 swing: +3.4pp toward D · 2008: -0.7pp · 2024: 2.6pp
• All cycles: 2024: D+2.6 2020: D+5.4 2016: R+4.5 2012: R+2.5 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -347.34%
• Current HPI: 296.3753
• Rent YoY: ▲ 5.93%
• 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

+1098.6% since first listed

16 events — show timeline

• 2026-05-21 Price Changed $335,000 REINMLS
• 2026-05-01 Listed $355,000 REINMLS
• 2024-03-21 Listing Removed — REINMLS
• 2024-03-17 Price Changed $360,000 REINMLS
• 2024-03-12 Listed $365,000 REINMLS
• 2018-09-28 Sold (Public Records) $205,000 Public Records
• 2018-09-05 Pending — REINMLS
• 2018-06-15 Price Changed $205,000 REINMLS
• 2018-05-05 Price Changed $210,000 REINMLS
• 2018-04-19 Listed $225,000 REINMLS
• 2015-10-16 Sold (Public Records) $185,500 Public Records
• 2015-10-15 Sold (MLS) $185,500 REINMLS
• 2015-09-23 Pending — REINMLS
• 2015-09-18 Listing Removed — REINMLS
• 2015-08-21 Listed $189,900 REINMLS
• 1976-12-22 Sold (Public Records) $27,950 Public Records

Property tax history

+2.0%/yr

Latest (2018): $1,654 · -0.0% YoY. Source: county tax records.