2604 Bracston Rd · Virginia Beach, VA 23456

$379,000

3 bd · 2.5 ba · 1,724 sqft · Townhouse public records · 10 Days on market

Built 1996 2,748 sqft lot Est $400k · 5% 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).

• Cash flow +12.0/30.0
• ARV discount +9.9/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• Rent growth +3.4/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

“HOMEBUYERS INSPECTION” - NO FEE PROPERTY - CONVENIENTLY LOCATED TO MILITARY BASES - SHOPPING - DINING - BEACHES! SPACIOUS THREE (3) BEDROOMS WITH 1ST FLOOR PRIMARY BEDROOM - WALK-IN CLOSETS - OPEN RELAXING FLOOR PLAN - PATIO/FENCED BACKYARD AND ATTACHED GARAGE - PROPERTY NEED (TLC) - CONVEYS "AS IS" - NO REPAIRS BY SELLER-

Key facts

• beaches
• Walk-in closets
• Patio

Tags

• SHOPPING
• DINING
• BEACHES
• WALK-IN CLOSETS
• OPEN RELAXING FLOOR PLAN
• PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $379k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $363k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (22.4% below list).
• Recommended offer: $294k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Princess Anne Elementary (math 85% / reading 86%, grade A+, #61 of 1,108 statewide, top 6%, 682 students, 13% FRL); Princess Anne Middle (math 79% / reading 85%, grade A+, #20 of 342 statewide, top 6%, 1,400 students, 14% FRL); Floyd Kellam High (math 83% / reading 93%, grade A, #13 of 319 statewide, top 4%, 1,882 students, 14% FRL).
• Market conditions: Rents rising (+3.8%/yr); 367 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $3k of loan paydown is wiped out by about $11k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $108k; list at $379k implies a 251% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $294,145 (22.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.78% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.01%
• DSCR: 0.96
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $399,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2604 Bracston Rd	0.00mi	3/2.5	1,724 (0%)	1mo	$379,000	$220	99
2350 Charing Cross Rd	0.13mi	3/2.5	1,727 (+0%)	0mo	$410,000	$237	93
2578 Hartley St	0.16mi	3/2.5	1,727 (+0%)	1mo	$399,900	$232	91
2449 Dillingham Rd	0.09mi	3/2.5	1,849 (+7%)	6mo	$419,900	$227	78
2697 Bracston Rd	0.12mi	3/2.5	1,586 (-8%)	5mo	$415,500	$262	77
2510 Hartley St	0.06mi	3/2.5	1,889 (+10%)	6mo	$370,000	$196	77
2589 Hartley St	0.13mi	3/2.5	1,889 (+10%)	2mo	$432,000	$229	76
2623 Bracston Rd	0.06mi	3/2.5	1,889 (+10%)	7mo	$409,000	$217	76
2400 Dillingham Rd	0.09mi	3/2.5	1,889 (+10%)	6mo	$430,000	$228	75
2343 Nottoway Ln	0.58mi	3/2.5	1,884 (+9%)	1mo	$520,000	$276	57
2115 Martlet Ln	0.63mi	3/2.5	1,884 (+9%)	1mo	$525,000	$279	55
2344 Nottoway Ln	0.59mi	3/2.5	1,536 (-11%)	6mo	$495,000	$322	49

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-64,849
• Equity at exit: $56,510

10-year hold

• IRR: -7.9%
• Equity multiple: 0.49×
• Total profit: $-54,418
• Equity at exit: $32,769

Cash invested: $106,120 (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 23456

• Rents YoY: 3.8%
• Active inventory: 367
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,941 high
• Mortgage (P&I): −$1,988
• Tax from tax record: −$267 /mo · $3,210/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $-89

Break-even live

Break-even rent $3,054

Max offer price $363,248

Occupancy floor 98%

Sensitivity live

Price	-10% $125	-5% $18	+0% $-89	+5% $-196	+10% $-304
Rent	-10% $-322	-5% $-205	+0% $-89	+5% $27	+10% $143
Rate	-1.0pp $102	-0.5pp $7	base $-89	+0.5pp $-187	+1.0pp $-287

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2409 Dillingham Rd Virginia Beach, VA	3.0	2.5	1751	$3,000	$1.71	25d	1	0.08mi
2591 Hartley St Virginia Beach, VA	3.0	2.5	1589	$2,250	$1.42	9d	1	0.12mi
2228 Martlet Ln Virginia Beach, VA	3.0	3.0	2185	$3,400	$1.56	25d	1	0.53mi
2361 Nottoway Ln Virginia Beach, VA	3.0	2.5	2008	$3,200	$1.59	25d	1	0.64mi
2250 Princess Anne Rd Virginia Beach, VA	3.0	1.5	1680	$2,300	$1.37	25d	1	1.07mi

Listing history 5 events

1. 2026-04-24
   status Under Contract
2. 2026-04-23
   price $379,000
3. 2026-04-19
   historical Active Under Contract
4. 2026-04-13
   listed $375,000 Active
5. 1997-03-25
   soldstatus $108,065

ⓘ 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: $3,210 · $267/mo
• Projected year-2 tax: $3,210 · $267/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 · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,297
• − Mortgage interest: −$21,230
• − Property taxes: −$3,210
• − Insurance: −$1,895
• − Repairs & maintenance: −$2,824
• − Management: −$2,824
• − Depreciation: −$11,025
• Taxable loss: −$7,710
• Est. tax savings @ 24.0%: +$1,850
• After-tax cash flow: $780/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): 61,911
• Household income: $130,533
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 390.0

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 0.60)
• Race & ethnicity: White 60% Black 13% Asian 12% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 85% English-only · Tagalog/Filipino 4% Spanish 4% Other Indo-European 2%

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: ▼ -328.17%
• Current HPI: 318.3094
• Rent YoY: ▲ 3.78%
• 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

+250.7% since first listed

5 events — show timeline

• 2026-04-24 Pending — REINMLS
• 2026-04-23 Price Changed $379,000 REINMLS
• 2026-04-19 Contingent — REINMLS
• 2026-04-13 Listed $375,000 REINMLS
• 1997-03-25 Sold (Public Records) $108,065 Public Records

Property tax history

+22.7%/yr

Latest (2025): $3,210 · +4.4% YoY. Source: county tax records.