202 Lee Ave · Colonial Heights, VA 23834

$250,000

4 bd · 2.0 ba · 2,091 sqft · SingleFamily public records · 6 Days on market

Built 1912 10,018 sqft lot $120/sqft · 11% below area Est $282k · 11% 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 +12.7/15.0
• Cash flow +10.3/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• Livability +3.7/5.0
• DSCR +3.0/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two-story home with an incredible amount of space in the heart of Colonial Heights: This well-cared for home features hardwood floors throughout the first and second level bedrooms and living areas; Original crown moulding, chair rail, and extra-wide baseboards that display some of the charm of yesterday; Updated bathrooms and fresh paint throughout. With 5 bedrooms, 3 on the first floor, you can easily use one of these as a formal or informal dining area. One bathroom features stand-up shower, while the other has a claw-foot tub with shower capability. Outside you will love the brick, covered front porch, white picket fence in front and privacy fence in the back, triple decks for entertaining, plenty of paved off-street parking, and so much more. Close to Fort Lee, Interstates, Chesterfield, and all of the conveniences.

Key facts

• 0.23 acre lot
• Parking
• Built 1912

Property features AI

Exterior

• Parking: Driveway parking; Off-street paved parking
• Utilities: Public water; Public sewer
• Home design: 2-story single-family home; Resale property; Shingle roof; Frame construction with vinyl siding; R2 zoning
• Construction: Frame construction; Vinyl siding; Shingle roof
• Exterior features: Front porch; Porch and deck; Hot tub / spa; Outbuilding; Paved driveway

Interior

• Kitchen: Eat-in kitchen with abundant cabinet and counter space
• Bedrooms: Bedroom on main level; Second-level bedrooms with hardwood floors; Additional room on first level that can be used as primary suite (hardwood floor)
• Flooring: Wood/Hardwood floors throughout main areas and bedrooms
• Bathrooms: 2 full bathrooms; First-level full bath with tub and shower
• Heating & cooling: Forced air heating (oil); Central electric air conditioning
• Interior features: Thermal windows; Storm door(s); Ceiling fan(s); Eat-in kitchen; High ceilings; Walk-in closet(s); Fireplace with gas insert
• Laundry & utility: Washer hookup; Dryer hookup; First-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (23.1% below list).
• Recommended offer: $192k (23.1% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.2% in Colonial Heights — 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 74/100 on livability (#146 in VA, #4,726 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D, crime F.
• Colonial Heights City Public School District (suburban): math 52% / reading 64% proficiency, ranked #67 of 131 in VA (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Tussing Elementary (math 58% / reading 71%, grade B, #416 of 1,108 statewide, top 41%, 623 students, 84% FRL); Colonial Heights Middle (math 49% / reading 64%, grade B, #184 of 342 statewide, top 54%, 598 students, 86% FRL); Colonial Heights High (math 82% / reading 77%, grade A-, #63 of 319 statewide, top 22%, 876 students, 85% FRL) — zoned schools average 85% FRL vs 37% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.5%/yr); 126 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 17 units permitted in Colonial Heights city in 2024 (0 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.
• Colonial Heights County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $176k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% 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 $192,132 (23.1% 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 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 5.64%
• Cash-on-cash: -2.34%
• DSCR: 0.90
• GRM: 10.8

CMA / ARV

• ARV (median comp): $282,380
• List price: $250,000
• Delta: -11.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Suffolk Ave	0.20mi	4/2.5	2,137 (+2%)	4mo	$240,000	$112	82
715 Lafayette Ave	0.29mi	4/3.0	2,132 (+2%)	2mo	$320,000	$150	77
224 Hamilton Ave	0.13mi	4/2.0	2,272 (+9%)	10mo	$280,000	$123	72
323 Bristol Ave	0.38mi	4/2.0	2,014 (-4%)	7mo	$299,900	$149	70
109 Lafayette Ave	0.11mi	4/2.0	1,826 (-13%)	7mo	$275,000	$151	68
306 Washington Ave	0.40mi	4/2.0	1,948 (-7%)	5mo	$250,000	$128	66
145 Carroll Ave	0.47mi	3/2.0 (-1)	2,014 (-4%)	4mo	$335,000	$166	64
407 Marvin Ave	0.47mi	3/2.0 (-1)	1,912 (-9%)	4mo	$289,950	$152	56
116 Fairfax Ave	0.59mi	4/2.0	1,860 (-11%)	2mo	$200,000	$108	52
314 Cameron Ave	0.23mi	3/2.0 (-1)	1,782 (-15%)	9mo	$309,000	$173	52
711 Lafayette Ave	0.29mi	5/3.0 (+1)	2,400 (+15%)	7mo	$256,000	$107	47
186 Piedmont Ave	0.52mi	3/2.0 (-1)	1,791 (-14%)	10mo	$325,000	$181	38

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 · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.43×
• Total profit: $-40,143
• Equity at exit: $37,276

10-year hold

• IRR: -0.9%
• Equity multiple: 0.92×
• Total profit: $-5,282
• Equity at exit: $21,615

Cash invested: $70,000 (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 23834

• Rents YoY: 7.5%
• Active inventory: 126
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$239 /mo · $2,873/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-137

Break-even live

Break-even rent $2,094

Max offer price $225,842

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-66	+0% $-137	+5% $-208	+10% $-278
Rent	-10% $-289	-5% $-213	+0% $-137	+5% $-61	+10% $15
Rate	-1.0pp $-11	-0.5pp $-73	base $-137	+0.5pp $-202	+1.0pp $-267

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 Hamilton Ave Colonial Heights, VA	4.0	1.0	1615	$1,891	$1.17	45d	1	0.40mi
211 Jefferson Ave Colonial Heights, VA	4.0	2.0	1507	$1,900	$1.26	3d	1	0.40mi
525 James Ave Colonial Heights, VA	3.0	2.0	1556	$2,141	$1.38	16d	1	0.72mi
212 E Wythe St Unit 1 Petersburg, VA	4.0	1.5	1400	$1,295	$0.93	45d	1	1.34mi
212 E Wythe St Unit 1 Petersburg, VA	4.0	1.5	1400	$1,295	$0.93	25d	1	1.34mi
115 Pine St Unit 115 Petersburg, VA	3.0	1.5	1400	$1,462	$1.04	45d	1	1.49mi

Listing history 9 events

1. 2026-05-13
   status Pending 740-char remark
2. 2026-05-08
   listed $250,000 Active 740-char remark
3. 2026-04-18
   historical $250,000 740-char remark
4. 2020-03-31
   soldstatus $175,500 Closed 833-char remark

   Show marketing remark (833 chars)

   Two-story home with an incredible amount of space in the heart of Colonial Heights: This well-cared for home features hardwood floors throughout the first and second level bedrooms and living areas; Original crown moulding, chair rail, and extra-wide baseboards that display some of the charm of yesterday; Updated bathrooms and fresh paint throughout. With 5 bedrooms, 3 on the first floor, you can easily use one of these as a formal or informal dining area. One bathroom features stand-up shower, while the other has a claw-foot tub with shower capability. Outside you will love the brick, covered front porch, white picket fence in front and privacy fence in the back, triple decks for entertaining, plenty of paved off-street parking, and so much more. Close to Fort Lee, Interstates, Chesterfield, and all of the conveniences.

5. 2020-03-31
   soldstatus $175,500

   Show marketing remark (833 chars)

   Two-story home with an incredible amount of space in the heart of Colonial Heights: This well-cared for home features hardwood floors throughout the first and second level bedrooms and living areas; Original crown moulding, chair rail, and extra-wide baseboards that display some of the charm of yesterday; Updated bathrooms and fresh paint throughout. With 5 bedrooms, 3 on the first floor, you can easily use one of these as a formal or informal dining area. One bathroom features stand-up shower, while the other has a claw-foot tub with shower capability. Outside you will love the brick, covered front porch, white picket fence in front and privacy fence in the back, triple decks for entertaining, plenty of paved off-street parking, and so much more. Close to Fort Lee, Interstates, Chesterfield, and all of the conveniences.

6. 2020-02-13
   status Pending 833-char remark

   Show marketing remark (833 chars)

   Two-story home with an incredible amount of space in the heart of Colonial Heights: This well-cared for home features hardwood floors throughout the first and second level bedrooms and living areas; Original crown moulding, chair rail, and extra-wide baseboards that display some of the charm of yesterday; Updated bathrooms and fresh paint throughout. With 5 bedrooms, 3 on the first floor, you can easily use one of these as a formal or informal dining area. One bathroom features stand-up shower, while the other has a claw-foot tub with shower capability. Outside you will love the brick, covered front porch, white picket fence in front and privacy fence in the back, triple decks for entertaining, plenty of paved off-street parking, and so much more. Close to Fort Lee, Interstates, Chesterfield, and all of the conveniences.

7. 2020-01-27
   price $189,000 833-char remark

   Show marketing remark (833 chars)

   Two-story home with an incredible amount of space in the heart of Colonial Heights: This well-cared for home features hardwood floors throughout the first and second level bedrooms and living areas; Original crown moulding, chair rail, and extra-wide baseboards that display some of the charm of yesterday; Updated bathrooms and fresh paint throughout. With 5 bedrooms, 3 on the first floor, you can easily use one of these as a formal or informal dining area. One bathroom features stand-up shower, while the other has a claw-foot tub with shower capability. Outside you will love the brick, covered front porch, white picket fence in front and privacy fence in the back, triple decks for entertaining, plenty of paved off-street parking, and so much more. Close to Fort Lee, Interstates, Chesterfield, and all of the conveniences.

8. 2020-01-15
   listed $194,500 Active 833-char remark

   Show marketing remark (833 chars)

   Two-story home with an incredible amount of space in the heart of Colonial Heights: This well-cared for home features hardwood floors throughout the first and second level bedrooms and living areas; Original crown moulding, chair rail, and extra-wide baseboards that display some of the charm of yesterday; Updated bathrooms and fresh paint throughout. With 5 bedrooms, 3 on the first floor, you can easily use one of these as a formal or informal dining area. One bathroom features stand-up shower, while the other has a claw-foot tub with shower capability. Outside you will love the brick, covered front porch, white picket fence in front and privacy fence in the back, triple decks for entertaining, plenty of paved off-street parking, and so much more. Close to Fort Lee, Interstates, Chesterfield, and all of the conveniences.

9. 1993-12-06
   soldstatus $85,000

ⓘ 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: $2,873 · $239/mo
• Projected year-2 tax: $2,873 · $239/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,056
• − Mortgage interest: −$14,004
• − Property taxes: −$2,873
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$7,273
• Taxable loss: −$6,033
• Est. tax savings @ 24.0%: +$1,448
• After-tax cash flow: $-193/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: Colonial Heights City Public School District
• NCES district ID: 5100960
• Math proficiency: 52% ▼ -31.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $50,368
• Composite: 49.41/100
• National rank: #2011
• State rank: #67 of 131 in VA

Livability — Colonial Heights

• Score: 74/100
• State rank: #146
• US rank: #4726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colonial Heights, VA
• County: Chesterfield County · 406,988 people
• City population: 26,628
• Metro: Richmond, VA
• Population (ZIP): 26,628
• Household income: $84,338
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 814.0

Population outlook (Colonial Heights County) Hauer SSP2

• Today (2025): 18,627 people
• By 2030: 19,110 · +2.6%
• By 2040: 20,215 · +8.5%
• By 2050: 21,424 · +15.0%
• By 2075: 24,692 · +32.6%
• By 2100: 26,164 · +40.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 22% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Korean 1%

Political lean MEDSL · Colonial Heights

• 2024 margin: Solid R (+32.5) · D 33.4% · R 65.8%
• 2008→2024 swing: +8.2pp toward D · 2008: -40.7pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+33.2 2016: R+39.3 2012: R+39.5 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -212.28%
• Current HPI: 294.4478
• Rent YoY: ▲ 7.50%
• 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

+194.1% since first listed

9 events — show timeline

• 2026-05-13 Pending — CVRMLS
• 2026-05-08 Listed $250,000 CVRMLS
• 2026-04-18 Coming Soon $250,000 CVRMLS
• 2020-03-31 Sold (Public Records) $175,500 Public Records
• 2020-03-31 Sold (MLS) $175,500 CVRMLS
• 2020-02-13 Pending — CVRMLS
• 2020-01-27 Price Changed $189,000 CVRMLS
• 2020-01-15 Listed $194,500 CVRMLS
• 1993-12-06 Sold (Public Records) $85,000 Public Records

Property tax history

+4.9%/yr

Latest (2026): $2,873 · +15.5% YoY. Source: county tax records.