1107 Clear Springs Rd · Virginia Beach, VA 23464

$280,000

3 bd · 2.5 ba · 1,320 sqft · Townhouse public records · 13 Days on market

Built 1978 Est $280k · at est. $33/mo HOA · 2% 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).

• Cash flow +10.7/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• DSCR +3.1/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1107 Clear Springs Road, a charming and well-maintained townhouse nestled in the heart of Virginia Beach’s established Level Green community. This inviting 3-bedroom, 2.5-bath home offers approximately 1,320 square feet of comfortable living space with a functional layout designed for both everyday living and entertaining. Built in 1978, the property has been thoughtfully cared for and offers an excellent blend of value, convenience, and modern comfort. Outside, enjoy a manageable yard space great for relaxing, gardening, or weekend gatherings. Conveniently located near shopping, dining, parks, military bases, and major commuter routes, this home combines neighborhood charm

Key facts

• Military bases
• $33 HOA
• 2 parking spots

Tags

• LEVEL GREEN COMMUNITY
• MANAGEABLE YARD SPACE
• SHOPPING DINING PARKS
• MILITARY BASES
• MAJOR COMMUTER ROUTES

Property features AI

Finance

• HOA & community: HOA with monthly fee of $33; Villages Homeowners Association (management listed)

Exterior

• Parking: 2 street parking spaces
• Utilities: City/county water; City/county sewer; Electric water heater
• Home design: Attached townhouse; 2 stories; Slab foundation; Asphalt shingle roof
• Construction: Brick and vinyl construction; Slab foundation; Asphalt shingle roof
• Exterior features: Brick and vinyl siding; Privacy fence

Interior

• Kitchen: Electric range; Dishwasher; Garbage disposal
• Bedrooms: Master bedroom; Additional bedroom
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Carpet and laminate floors; Living room, great room, dining room, family room, utility room
• Laundry & utility: Washer hookup; Dryer hookup; 220V electrical outlet

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $280k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (23.5% below list).
• Recommended offer: $214k (23.5% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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: College Park Elementary (math 42% / reading 57%, grade D, #742 of 1,108 statewide, top 70%, 484 students, 101% FRL); Tallwood High (math 81% / reading 88%, grade A, #23 of 319 statewide, top 8%, 1,861 students, 44% FRL) — zoned schools average 72% FRL vs 28% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 225 active listings in the ZIP; 26 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).

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.
• Virginia Beach County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Risks & watch-outs

• Climate carrying-cost: 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 $214,252 (23.5% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.77% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.03%
• DSCR: 0.91
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $279,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 Clear Springs Rd	0.19mi	3/2.5	1,320 (0%)	3mo	$305,000	$231	89
5928 Appleton Ct	0.07mi	3/1.5	1,280 (-3%)	3mo	$263,000	$205	85
1117 Meadow Sage Ln	0.13mi	3/1.5	1,280 (-3%)	1mo	$265,000	$207	84
1010 Bryce Ln	0.27mi	3/2.5	1,360 (+3%)	0mo	$305,000	$224	82
1048 Bryce Ln	0.22mi	3/2.5	1,375 (+4%)	2mo	$305,000	$222	81
1027 Bryce Ln	0.25mi	3/2.5	1,375 (+4%)	6mo	$278,500	$203	76
1031 Bryce Ln	0.25mi	3/2.5	1,375 (+4%)	7mo	$306,000	$223	76
1066 Commonwealth Pl	0.26mi	3/1.5	1,242 (-6%)	5mo	$270,000	$217	70
1177 Meadow Sage Ln	0.15mi	2/1.5 (-1)	1,200 (-9%)	6mo	$249,900	$208	64
1031 Commonwealth Pl	0.33mi	2/1.5 (-1)	1,252 (-5%)	4mo	$250,000	$200	63
1050 Commonwealth Pl	0.29mi	2/1.5 (-1)	1,176 (-11%)	2mo	$245,000	$208	58
6492 Duquesne Pl	0.69mi	3/1.5	1,275 (-3%)	3mo	$270,000	$212	56

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 · 6.36% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.41×
• Total profit: $-46,371
• Equity at exit: $41,749

10-year hold

• IRR: -3.1%
• Equity multiple: 0.76×
• Total profit: $-18,481
• Equity at exit: $24,209

Cash invested: $78,400 (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 23464

• Rents YoY: 6.4%
• Active inventory: 225
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,143 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$207 /mo · $2,487/yr
• Insurance: −$117
• HOA: −$33
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $-133

Break-even live

Break-even rent $2,310

Max offer price $256,561

Occupancy floor —

Sensitivity live

Price	-10% $26	-5% $-53	+0% $-133	+5% $-212	+10% $-291
Rent	-10% $-302	-5% $-217	+0% $-133	+5% $-48	+10% $37
Rate	-1.0pp $8	-0.5pp $-61	base $-133	+0.5pp $-205	+1.0pp $-279

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1102 Clear Springs Rd Virginia Beach, VA	3.0	1.5	1280	$1,695	$1.32	24d	1	0.04mi
1101 Craftsman Dr Virginia Beach, VA	1.0–2.0	1.0–2.0	1014	$1,909	$1.88	3d	22	0.16mi
1048 Commonwealth Pl Virginia Beach, VA	3.0	1.5	1242	$2,150	$1.73	24d	1	0.26mi
1221 Clydesdale Ln Virginia Beach, VA	2.0	1.5	1120	$1,800	$1.61	24d	1	0.29mi
6205 Lippizan Cir Virginia Beach, VA	3.0	2.5	1800	$2,200	$1.22	24d	1	0.35mi
6308 Blakely Sq Virginia Beach, VA	1.0–3.0	1.0–2.0	1036	$2,629	$2.54	3d	17	0.60mi
6400 Dillard Pl Unit 1 Virginia Beach, VA	4.0	2.5	1700	$2,395	$1.41	24d	1	0.67mi
6442 Duquesne Pl Virginia Beach, VA	3.0	1.5	1524	$1,995	$1.31	11d	1	0.72mi
6442 Duquesne Pl Virginia Beach, VA	3.0	1.5	1524	$1,995	$1.31	8d	1	0.72mi
1321 Drexel Cir Virginia Beach, VA	4.0	2.0	1845	$2,800	$1.52	24d	1	0.73mi
2502 Fieldsway Dr Chesapeake, VA	3.0	2.5	1860	$2,550	$1.37	15d	1	0.75mi
2403 Trafton Pl Unit 1 Chesapeake, VA	3.0	2.5	1739	$2,800	$1.61	2d	1	0.76mi
6324 Rockbrook Ln Virginia Beach, VA	1.0–2.0	1.0–2.0	964	$2,165	$2.25	4d	20	0.76mi
2213 Sparrow Rd Chesapeake, VA	3.0	2.0	1248	$2,300	$1.84	17d	1	0.77mi
2416 Trafton Pl Chesapeake, VA	3.0	2.5	1750	$2,800	$1.60	17d	1	0.79mi
1257 Jadens Way Chesapeake, VA	3.0	3.0	1726	$2,550	$1.48	15d	1	0.85mi
1940 Weber Ave Chesapeake, VA	3.0	2.0	1600	$1,995	$1.25	24d	1	0.89mi
1712 Weber Ave Chesapeake, VA	3.0	2.5	1704	$2,200	$1.29	8d	1	1.13mi
5742 Simon St Virginia Beach, VA	3.0	2.0	1500	$1,995	$1.33	8d	1	1.16mi
1728 Rueger St Virginia Beach, VA	3.0	2.0	1360	$1,800	$1.32	15d	1	1.23mi
806 Jamestowne Dr Virginia Beach, VA	3.0	2.5	1700	$2,000	$1.18	21d	1	1.27mi
5519 New Colony Dr Virginia Beach, VA	3.0	2.5	1470	$1,795	$1.22	24d	1	1.32mi
2008 Fawnwood Cmn Chesapeake, VA	3.0	1.5	1131	$1,950	$1.72	24d	1	1.45mi
1924 Woodgate Arch Unit 1 Chesapeake, VA	2.0	2.5	1264	$1,850	$1.46	16d	1	1.49mi
1924 Woodgate Arch Chesapeake, VA	2.0	2.5	1264	$1,850	$1.46	17d	1	1.49mi
1801 Colleen Ct Virginia Beach, VA	3.0	2.0	1474	$2,600	$1.76	24d	1	1.49mi

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 16 events

1. 2026-06-03
   days on market $280,000 Active 13 DOM
2. 2026-06-02
   days on market $280,000 Active 12 DOM
3. 2026-06-01
   days on market $280,000 Active 11 DOM
4. 2026-05-31
   days on market $280,000 Active 10 DOM
5. 2026-05-20
   listed $280,000 Active
6. 2024-06-24
   soldstatus $270,000
7. 2022-06-10
   soldstatus $250,000
8. 2022-05-10
   status Under Contract
9. 2022-05-08
   listed $240,000 Active
10. 2017-08-29
    soldstatus $159,900
11. 2017-08-14
    status Under Contract
12. 2017-07-27
    status Active
13. 2017-07-16
    status Under Contract
14. 2017-06-21
    price $159,900
15. 2017-06-13
    listed $157,000 Active
16. 2001-04-02
    soldstatus $68,900

ⓘ 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: $2,487 · $207/mo
• Projected year-2 tax: $2,487 · $207/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°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 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,710
• − Mortgage interest: −$15,684
• − Property taxes: −$2,487
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,057
• − Management: −$2,057
• − HOA: −$396
• − Depreciation: −$8,145
• Taxable loss: −$6,516
• Est. tax savings @ 24.0%: +$1,564
• After-tax cash flow: $-28/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): 75,061
• Household income: $92,468
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 1929.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 50% Black 23% Asian 10% Two or more races 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, Vietnam, China
• Languages at home: 85% English-only · Tagalog/Filipino 5% Spanish 5% Other Asian/Pacific 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: ▼ -271.27%
• Current HPI: 324.1854
• Rent YoY: ▲ 6.36%
• 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

+306.4% since first listed

12 events — show timeline

• 2026-05-20 Listed $280,000 REINMLS
• 2024-06-24 Sold (Public Records) $270,000 Public Records
• 2022-06-10 Sold (Public Records) $250,000 Public Records
• 2022-05-10 Pending — REINMLS
• 2022-05-08 Listed $240,000 REINMLS
• 2017-08-29 Sold (Public Records) $159,900 Public Records
• 2017-08-14 Pending — REINMLS
• 2017-07-27 Relisted — REINMLS
• 2017-07-16 Pending — REINMLS
• 2017-06-21 Price Changed $159,900 REINMLS
• 2017-06-13 Listed $157,000 REINMLS
• 2001-04-02 Sold (Public Records) $68,900 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,487 · +4.1% YoY. Source: county tax records.