701 S Lynnhaven Rd · Virginia Beach, VA 23452

$354,900

5 bd · 1.5 ba · 1,632 sqft · SingleFamily public records · 86 Days on market

Built 1964 8,894 sqft lot Est $403k · 12% under

---

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 +12.9/15.0
• Cash flow +11.1/30.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• DSCR +3.2/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Ocean Lakes high school-5BR 2Ba 2 story corner lot. Large wood shed. Home is minutes to NAS oceana, town center, oceanfront, Norfolk and interstates. Stroll to Lynnhaven mall. Neighborhood has newer household recreation center. Home is not in a flood zone. Garage converted into living space (300 sq ft) with shower.

Key facts

• Not in a flood zone
• Large wood shed
• Corner lot

Tags

• CORNER LOT
• LARGE WOOD SHED
• MINUTES TO NAS OCEANA
• STROLL TO LYNNHAVEN MALL
• NOT IN A FLOOD ZONE

Property features AI

Finance

• Other: Neighborhood: CARRIAGE HILL
• HOA & community: No HOA fees

Exterior

• Parking: Off-street parking for 4 vehicles
• Utilities: City/County water; City/County sewer; Natural gas
• Home design: Detached property; Split-level style; 2 stories; Slab foundation; Simple ownership
• Construction: Brick and vinyl siding; Asphalt shingle roof
• Exterior features: Patio; Back yard with privacy wood fence

Interior

• Kitchen: Range (electric); Dishwasher; Disposal; Refrigerator
• Bedrooms: Bedroom and full bathroom on the first floor; Total rooms: 12
• Flooring: Ceramic; Laminate; Vinyl; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced hot air heating (natural gas); Central air conditioning; Gas water heater
• Interior features: Attic fan; Main floor laundry; Pocket doors; Stepless entrance; Pantry; In-law suite; Attic
• Laundry & utility: Washer; Dryer; 220V electrical outlet

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $330k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (25.3% below list).
• Recommended offer: $265k (25.3% 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: Brookwood Elementary (math 56% / reading 68%, grade B, #480 of 1,108 statewide, top 46%, 571 students, 66% FRL); Ocean Lakes High (math 73% / reading 89%, grade A, #52 of 319 statewide, top 17%, 1,855 students, 29% FRL) — zoned schools average 48% FRL vs 28% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 226 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 40% of the median local income ($79k/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 $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

• It's been on market 86 days — a 6% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $125k; list at $355k implies a 184% 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 $265,006 (25.3% 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 86 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.75% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.69%
• DSCR: 0.92
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $403,104
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
804 Stratford Hall Dr	0.41mi	5/1.5	1,632 (0%)	1mo	$400,000	$245	80
721 Burgesses Ln	0.20mi	4/2.5 (-1)	1,650 (+1%)	2mo	$438,000	$265	78
725 Burgesses Ln	0.21mi	4/3.0 (-1)	1,650 (+1%)	4mo	$365,000	$221	74
816 Lamplight Ln	0.42mi	6/1.5 (+1)	1,632 (0%)	2mo	$345,000	$211	74
3141 Ashlawn Ter	0.36mi	4/2.5 (-1)	1,668 (+2%)	1mo	$430,000	$258	70
3133 Ashlawn Ter	0.35mi	4/2.0 (-1)	1,600 (-2%)	5mo	$395,000	$247	70
2904 Augusta Cir	0.64mi	4/2.0 (-1)	1,647 (+1%)	1mo	$408,000	$248	61
301 Bethune Dr	0.62mi	4/2.0 (-1)	1,549 (-5%)	2mo	$415,000	$268	53
452 Bethune Dr	0.67mi	4/2.0 (-1)	1,549 (-5%)	2mo	$395,000	$255	52
917 Boughton Way	0.72mi	4/2.0 (-1)	1,544 (-5%)	0mo	$370,000	$240	50
752 Fox Run Rd	0.60mi	4/2.5 (-1)	1,764 (+8%)	1mo	$389,900	$221	49
720 Fox Run Rd	0.68mi	4/2.5 (-1)	1,800 (+10%)	4mo	$390,000	$217	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 · 4.92% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.38×
• Total profit: $-61,304
• Equity at exit: $52,917

10-year hold

• IRR: -6.3%
• Equity multiple: 0.57×
• Total profit: $-42,984
• Equity at exit: $30,685

Cash invested: $99,372 (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 23452

• Rents YoY: 4.9%
• Active inventory: 226
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,650 medium
• Mortgage (P&I): −$1,861
• Tax from tax record: −$225 /mo · $2,695/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-140

Break-even live

Break-even rent $2,827

Max offer price $330,165

Occupancy floor —

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: $88,725
• Closing costs: $10,647
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2908 Peppercorn Ct Virginia Beach, VA	4.0	1.5	1381	$2,295	$1.66	23d	1	0.46mi
408 Lineberry Rd Virginia Beach, VA	4.0	2.0	1561	$2,700	$1.73	23d	1	0.96mi
3564 Faraday Ln Virginia Beach, VA	4.0	2.5	1700	$2,600	$1.53	23d	1	1.24mi
701 Arthur Ave Virginia Beach, VA	4.0	1.5	1404	$2,500	$1.78	17d	1	1.39mi

Listing history 19 events

1. 2026-06-18
   days on market $354,900 Active 86 DOM
2. 2026-06-17
   days on market $354,900 Active 85 DOM
3. 2026-06-16
   days on market $354,900 Active 84 DOM
4. 2026-06-15
   days on market $354,900 Active 83 DOM
5. 2026-06-13
   days on market $354,900 Active 81 DOM
6. 2026-06-09
   days on market $354,900 Active 77 DOM
7. 2026-06-08
   days on market $354,900 Active 76 DOM
8. 2026-06-07
   days on market $354,900 Active 75 DOM
9. 2026-06-03
   days on market $354,900 Active 71 DOM
10. 2026-06-02
    days on market $354,900 Active 70 DOM
11. 2026-06-01
    days on market $354,900 Active 69 DOM
12. 2026-05-31
    days on market $354,900 Active 68 DOM
13. 2026-03-23
    listed $354,900 Active
14. 2026-02-19
    historical
15. 2025-12-17
    status Active
16. 2025-10-22
    status Under Contract
17. 2025-09-25
    price $354,900
18. 2025-09-20
    listed $369,900 Active
19. 2004-01-21
    soldstatus $125,000

ⓘ 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: $2,695 · $225/mo
• Projected year-2 tax: $2,910 · $243/mo
• Expected delta: +$216/yr (+$18/mo · 8.0%)

ⓘ 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 1/10 Low
• 🌡 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,801
• − Mortgage interest: −$19,880
• − Property taxes: −$2,695
• − Insurance: −$1,774
• − Repairs & maintenance: −$2,544
• − Management: −$2,544
• − Depreciation: −$10,324
• Taxable loss: −$7,961
• Est. tax savings @ 24.0%: +$1,911
• After-tax cash flow: $230/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): 58,455
• Household income: $79,085
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2293.0

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 0.59)
• Race & ethnicity: White 60% Black 20% Two or more races 10% Hispanic / Latino 9% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Italian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 6% Tagalog/Filipino 2% 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: ▼ -363.80%
• Current HPI: 328.5435
• Rent YoY: ▲ 4.92%
• 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

+183.9% since first listed

7 events — show timeline

• 2026-03-23 Listed $354,900 REINMLS
• 2026-02-19 Listing Removed — REINMLS
• 2025-12-17 Relisted — REINMLS
• 2025-10-22 Pending — REINMLS
• 2025-09-25 Price Changed $354,900 REINMLS
• 2025-09-20 Listed $369,900 REINMLS
• 2004-01-21 Sold (Public Records) $125,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $2,695 · +0.0% YoY. Source: county tax records.