1243 Cedars Ct Unit C2 · Charlottesville, VA 22903

$194,900

1 bd · 1.0 ba · 544 sqft · Condo public records · 21 Days on market

Built 1984 $253/mo HOA · 14% 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 +10.5/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient & Walkable to UVA/North Grounds and all shopping at Barracks Road - Step Inside to LIKE NEW - FRESH & CLEAN - Seller has done a great top to bottom renovation inside to include: NEW LVP FLOORING THROUGHOUT - NEW KITCHEN CABINETS - NEW KITCHEN APPLIANCES - NEW KITCHEN COUNTERTOPS - NEW LIGHTING - NEW BATH TUB/SHOWER SURROUND - NEW BATH VANITY/MEDICINE CABINET/MIRROR - NEW PLUMBING FIXTURES IN Bath & Kitchen - FRESHLY PAINTED INTERIOR. This condo is ONE LEVEL condo is cute & compact - In wonderful ready to MOVE-IN CONDITION - NEW HVAC & WATER HEATER in 2017 - Plenty PARKING near your front door - City Bus Stop( Route 7) is nearby and runs through all of UVA Grounds area - AVAILABLE IMMEDIATELY!

Key facts

• Renovated bathroom
• Walk-in closet
• Tree views

Tags

• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• RENOVATED BATHROOM
• WALK-IN CLOSET
• IN-UNIT WASHER AND DRYER
• TREE VIEWS

Property features AI

Finance

• HOA & community: Monthly association fee of $253; HOA covers association management, common area maintenance, building maintenance, pools, reserve fund, sewer, snow removal, trash, and water; Community pool

Exterior

• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Condominium; One level
• Construction: Stick-built construction; Slab foundation
• Exterior features: Association pool

Interior

• Kitchen: Dishwasher; Electric range; Garbage disposal; Microwave; Refrigerator
• Bedrooms: One main-level bedroom
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Primary bedroom on the ground floor
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (7.5% below list).
• Recommended offer: $177k (9.0% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 2.9% in Charlottesville — 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 84/100 on livability (#27 in VA, #707 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living D, crime D-.
• Charlottesville Cty Public School District (urban): math 42% / reading 61% proficiency, ranked #97 of 131 in VA (top 74%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Charlottesville High (math 53% / reading 84%, grade B, #178 of 319 statewide, top 56%, 1,359 students, 72% FRL) — zoned schools average 72% FRL vs 50% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 68% at this address vs 52% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Charlottesville Cty Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.5%/yr); 221 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 34 units permitted in Charlottesville city in 2024 (18 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Charlottesville County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y 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 $145k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,419 (9.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. Crime grade is D 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?
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: 0.93% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.18%
• DSCR: 0.90
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.36×
• Total profit: $-35,006
• Equity at exit: $29,060

10-year hold

• IRR: -7.1%
• Equity multiple: 0.52×
• Total profit: $-26,445
• Equity at exit: $16,851

Cash invested: $54,572 (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 22903

• Rents YoY: 4.5%
• Active inventory: 221
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,803 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$167 /mo · $2,004/yr
• Insurance: −$81
• HOA: −$253
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $-99

Break-even live

Break-even rent $1,928

Max offer price $177,419

Occupancy floor —

Sensitivity live

Price	-10% $11	-5% $-44	+0% $-99	+5% $-154	+10% $-209
Rent	-10% $-241	-5% $-170	+0% $-99	+5% $-28	+10% $43
Rate	-1.0pp $-1	-0.5pp $-49	base $-99	+0.5pp $-149	+1.0pp $-201

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2105 Bond St Charlottesville, VA	2.0	1.0–2.0	894	$2,746	$3.07	13d	7	0.75mi
255 Saponi Ln Charlottesville, VA	3.0	1.0–2.5	817	$1,495	$1.83	13d	21	0.78mi
3105 District Ave Charlottesville, VA	1.0–3.0	1.0–2.0	1027	$1,750	$1.70	13d	24	0.86mi
507 16th St NW Charlottesville, VA	2.0	2.0	700	$1,850	$2.64	13d	1	1.14mi
2407 Peyton Dr Charlottesville, VA	1.0–3.0	1.0–1.5	905	$1,131	$1.25	13d	10	1.19mi
209 Chancellor St Unit A Charlottesville, VA	2.0	1.0	675	$2,150	$3.19	13d	1	1.25mi
250 Colonnade Dr Charlottesville, VA	1.0–2.0	1.0–2.0	730	$1,260	$1.73	13d	14	1.26mi
1135 Rose Hill Dr Charlottesville, VA	1.0	1.0	660	$1,798	$2.72	21d	4	1.33mi
400 10th St NW Charlottesville, VA	1.0–2.0	1.0–2.0	909	$2,053	$2.26	13d	7	1.46mi

HOA detail condo

• Monthly dues: $253 · $3,036/yr
• Likely covers: waterlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-19
   days on market $194,900 Active 21 DOM
2. 2026-06-18
   days on market $194,900 Active 20 DOM
3. 2026-06-17
   days on market $194,900 Active 19 DOM
4. 2026-06-16
   days on market $194,900 Active 18 DOM
5. 2026-06-15
   days on market $194,900 Active 17 DOM
6. 2026-06-14
   days on market $194,900 Active 15 DOM
7. 2026-06-13
   days on market $194,900 Active 14 DOM
8. 2026-06-10
   days on market $194,900 Active 12 DOM
9. 2026-06-09
   days on market $194,900 Active 11 DOM
10. 2026-06-08
    days on market $194,900 Active 10 DOM
11. 2026-06-07
    days on market $194,900 Active 9 DOM
12. 2026-06-02
    days on market $194,900 Active 4 DOM
13. 2026-06-01
    days on market $194,900 Active 3 DOM
14. 2026-05-31
    days on market $194,900 Active 2 DOM
15. 2026-05-29
    listed $194,900 Active
16. 2021-06-03
    soldstatus $145,000
17. 2021-06-01
    soldstatus $145,000 743-char remark

    Show marketing remark (743 chars)

    Convenient & Walkable to UVA/North Grounds and all shopping at Barracks Road - Step Inside to LIKE NEW - FRESH & CLEAN - Seller has done a great top to bottom renovation inside to include: NEW LVP FLOORING THROUGHOUT - NEW KITCHEN CABINETS - NEW KITCHEN APPLIANCES - NEW KITCHEN COUNTERTOPS - NEW LIGHTING - NEW BATH TUB/SHOWER SURROUND - NEW BATH VANITY/MEDICINE CABINET/MIRROR - NEW PLUMBING FIXTURES IN Bath & Kitchen - FRESHLY PAINTED INTERIOR. This condo is ONE LEVEL condo is cute & compact - In wonderful ready to MOVE-IN CONDITION - NEW HVAC & WATER HEATER in 2017 - Plenty PARKING near your front door - City Bus Stop( Route 7) is nearby and runs through all of UVA Grounds area - AVAILABLE IMMEDIATELY!

18. 2021-04-02
    listed $145,000 743-char remark

    Show marketing remark (743 chars)

    Convenient & Walkable to UVA/North Grounds and all shopping at Barracks Road - Step Inside to LIKE NEW - FRESH & CLEAN - Seller has done a great top to bottom renovation inside to include: NEW LVP FLOORING THROUGHOUT - NEW KITCHEN CABINETS - NEW KITCHEN APPLIANCES - NEW KITCHEN COUNTERTOPS - NEW LIGHTING - NEW BATH TUB/SHOWER SURROUND - NEW BATH VANITY/MEDICINE CABINET/MIRROR - NEW PLUMBING FIXTURES IN Bath & Kitchen - FRESHLY PAINTED INTERIOR. This condo is ONE LEVEL condo is cute & compact - In wonderful ready to MOVE-IN CONDITION - NEW HVAC & WATER HEATER in 2017 - Plenty PARKING near your front door - City Bus Stop( Route 7) is nearby and runs through all of UVA Grounds area - AVAILABLE IMMEDIATELY!

19. 2005-02-22
    soldstatus $113,500
20. 2004-08-31
    soldstatus $87,000
21. 2004-07-27
    listed $89,000
22. 2001-06-15
    soldstatus $53,000
23. 2001-06-15
    soldstatus $53,000
24. 2000-10-19
    listed $55,000
25. 1991-08-16
    soldstatus $51,000

ⓘ 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: $2,004 · $167/mo
• Projected year-2 tax: $2,004 · $167/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 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,635
• − Mortgage interest: −$10,917
• − Property taxes: −$2,004
• − Insurance: −$974
• − Repairs & maintenance: −$1,731
• − Management: −$1,731
• − HOA: −$3,036
• − Depreciation: −$5,670
• Taxable loss: −$4,428
• Est. tax savings @ 24.0%: +$1,063
• After-tax cash flow: $-125/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: Charlottesville Cty Public School District
• NCES district ID: 5100780
• Math proficiency: 42% ▼ -30.00%
• Reading proficiency: 61% ▼ -10.00%
• Median HH income: $47,211
• Composite: 43.68/100
• National rank: #2957
• State rank: #97 of 131 in VA

Livability — Charlottesville

• Score: 84/100
• State rank: #27
• US rank: #707

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlottesville, VA
• County: Albemarle County · 129,350 people
• City population: 120,202
• Metro: Charlottesville, VA
• Population (ZIP): 40,372
• Household income: $69,340
• Rent vs Own: 57.8% rent · 42.2% own
• Severe rent burden: 3060.0

Population outlook (Charlottesville County) Hauer SSP2

• Today (2025): 53,816 people
• By 2030: 57,857 · +7.5%
• By 2040: 63,933 · +18.8%
• By 2050: 69,676 · +29.5%
• By 2075: 77,018 · +43.1%
• By 2100: 82,078 · +52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 15% Asian 9% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 83% English-only · Spanish 4% Other Indo-European 3% Chinese 3%

Political lean MEDSL · Charlottesville

• 2024 margin: Solid D (+68.7) · D 83.4% · R 14.7% · Other 1.9%
• 2008→2024 swing: +10.7pp toward D · 2008: 58.0pp · 2024: 68.7pp
• All cycles: 2024: D+68.7 2020: D+72.7 2016: D+67.1 2012: D+53.4 2008: D+58.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -448.28%
• Current HPI: 306.8503
• Rent YoY: ▲ 4.49%
• Metro: Charlottesville, 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

+282.2% since first listed

11 events — show timeline

• 2026-05-29 Listed $194,900 CAAR
• 2021-06-03 Sold (Public Records) $145,000 Public Records
• 2021-06-01 Sold (MLS) $145,000 CAAR
• 2021-04-02 Listed $145,000 CAAR
• 2005-02-22 Sold (Public Records) $113,500 Public Records
• 2004-08-31 Sold (Public Records) $87,000 Public Records
• 2004-07-27 Listed $89,000 CAAR
• 2001-06-15 Sold (Public Records) $53,000 Public Records
• 2001-06-15 Sold (MLS) $53,000 CAAR
• 2000-10-19 Listed $55,000 CAAR
• 1991-08-16 Sold (Public Records) $51,000 Public Records

Property tax history

+7.5%/yr

Latest (2026): $2,004 · +1.0% YoY. Source: county tax records.