2561 Captains Corridor · Captains Cove, VA 23356

$149,900

2 bd · 1.0 ba · 728 sqft · SingleFamily · 305 Days on market

Built 1979 Fair condition 0.27 ac lot $206/sqft · 17% below area Est $181k · 17% under

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Why this score? — see what drove the B- 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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• Appreciation +5.6/10.0
• 1% rule +5.4/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

Key facts

• Open floor plan
• Front deck
• View of the pond

Tags

• OPEN FLOOR PLAN
• FRONT DECK
• VIEW OF THE GOLF COURSE
• VIEW OF THE POND
• GOLF WATERFRONT COMMUNITY
• INDOOR OUTDOOR POOLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.5% in Captains Cove — 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 63/100 on livability (#371 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A-, housing A-; Watch: amenities F, commute F, health & safety D-.
• Accomack County Public School District (rural): math 44% / reading 59% proficiency, ranked #99 of 131 in VA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kegotank Elementary (math 26% / reading 51%, grade F, #924 of 1,108 statewide, top 84%, 479 students, 104% FRL); Arcadia Middle (math 35% / reading 54%, grade D, #278 of 342 statewide, top 82%, 482 students, 102% FRL); Arcadia High (math 57% / reading 72%, grade B-, #213 of 319 statewide, top 69%, 713 students, 117% FRL) — zoned schools average 108% FRL vs 63% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 309 active listings in the ZIP; 181 units permitted in Accomack County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.2% local appreciation)).
• Accomack County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 305 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 8y ago; this cycle's ask is 12392% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $1k; list at $150k implies a 13527% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 305 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1979 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.04% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.62%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $181,459
• List price: $149,900
• Delta: -17.39%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2754 Jolly Rodger Dr	0.24mi	2/1.0	767 (+5%)	8mo	$235,000	$306	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.41×
• Total profit: $17,083
• Equity at exit: $53,014

10-year hold

• IRR: 11.7%
• Equity multiple: 2.46×
• Total profit: $61,401
• Equity at exit: $71,897

Cash invested: $41,972 (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 23356

• Home prices YoY: 0.7%
• Active inventory: 309
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,560 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $197

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 82%

Sensitivity live

Price	-10% $300	-5% $248	+0% $197	+5% $145	+10% $93
Rent	-10% $73	-5% $135	+0% $197	+5% $258	+10% $320
Rate	-1.0pp $272	-0.5pp $235	base $197	+0.5pp $158	+1.0pp $118

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-05-12
   price $149,900 829-char remark

   Show marketing remark (829 chars)

   Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

2. 2026-03-26
   price $164,500 829-char remark

   Show marketing remark (829 chars)

   Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

3. 2025-12-16
   status Active 829-char remark

   Show marketing remark (829 chars)

   Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

4. 2025-11-07
   status Pending 829-char remark

   Show marketing remark (829 chars)

   Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

5. 2025-09-25
   status Active 829-char remark

   Show marketing remark (829 chars)

   Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

6. 2025-09-12
   status Pending 829-char remark

   Show marketing remark (829 chars)

   Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

7. 2025-07-30
   soldstatus $1,100 Closed 808-char remark

   Show marketing remark (808 chars)

   Cozy cottage with open floor plan and beachy feel. Fully furnished. Living room, kitchen, 2 BRs and a bath. Front deck and nice view of the golf course and pond. Enjoy all the amenities in this golf & waterfront community, close to Chincoteague Island, Assateague Island, Wallops Island & Ocean City MD. Amenities include golf, 1 indoor/2 outdoor pools, fitness center, basketball & tennis courts, boat ramp, dock, security & more. There is an extra cost to tenants to use the amenities. Electric, propane, and water bill, cable, internet, and yard maintenance are tenants responsibility. Pets on a case by case basis. Non-refundable pet deposit required. NON-SMOKING ONLY. Application, 650 + credit score required. Rental Insurance required. Suitable for 1 or 2 people, per landlord.

8. 2025-07-16
   status Pending 808-char remark

   Show marketing remark (808 chars)

   Cozy cottage with open floor plan and beachy feel. Fully furnished. Living room, kitchen, 2 BRs and a bath. Front deck and nice view of the golf course and pond. Enjoy all the amenities in this golf & waterfront community, close to Chincoteague Island, Assateague Island, Wallops Island & Ocean City MD. Amenities include golf, 1 indoor/2 outdoor pools, fitness center, basketball & tennis courts, boat ramp, dock, security & more. There is an extra cost to tenants to use the amenities. Electric, propane, and water bill, cable, internet, and yard maintenance are tenants responsibility. Pets on a case by case basis. Non-refundable pet deposit required. NON-SMOKING ONLY. Application, 650 + credit score required. Rental Insurance required. Suitable for 1 or 2 people, per landlord.

9. 2025-07-02
   price $168,900 829-char remark

   Show marketing remark (829 chars)

   Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

10. 2025-06-04
    listed $1,200 Active 808-char remark

    Show marketing remark (808 chars)

    Cozy cottage with open floor plan and beachy feel. Fully furnished. Living room, kitchen, 2 BRs and a bath. Front deck and nice view of the golf course and pond. Enjoy all the amenities in this golf & waterfront community, close to Chincoteague Island, Assateague Island, Wallops Island & Ocean City MD. Amenities include golf, 1 indoor/2 outdoor pools, fitness center, basketball & tennis courts, boat ramp, dock, security & more. There is an extra cost to tenants to use the amenities. Electric, propane, and water bill, cable, internet, and yard maintenance are tenants responsibility. Pets on a case by case basis. Non-refundable pet deposit required. NON-SMOKING ONLY. Application, 650 + credit score required. Rental Insurance required. Suitable for 1 or 2 people, per landlord.

11. 2025-06-03
    listed $175,000 Active 829-char remark

    Show marketing remark (829 chars)

    Cozy Coastal Cottage. Charming & Affordable Opportunity-Under $165,000! Don't miss this rare find, a 2BR/1BA stick-built home at an incredible value! Whether you're a first-time buyer, looking to downsize, searching for an investment property, or considering a short-term rental. This home offers endless possibilities at an unbeatable price. Strong long term rental history spanning over 15 years, this property is already a proven income generator. Enjoy peaceful surroundings with scenic views of a golf course & pond just across the street—perfect for relaxing on the front porch & taking in the beauty of nature. The backyard offers a quiet retreat w/ plenty of potential four your outdoor oasis. New roof in 2024 & septic in 2026. Closing assistance avail. w/ acceptable offer before 7/4/2026!

12. 2024-06-08
    listed $189,900 Active
13. 2023-06-10
    soldstatus $1,050
14. 2023-05-02
    listed $1,050
15. 2022-05-10
    soldstatus $1,050
16. 2022-04-13
    listed $1,050
17. 2021-05-13
    soldstatus $1,025
18. 2021-05-04
    listed $975
19. 2020-07-29
    soldstatus $850
20. 2020-07-16
    listed $850
21. 2019-07-18
    soldstatus $850
22. 2019-06-08
    listed $850
23. 2019-03-27
    listed $850
24. 2019-03-24
    soldstatus $850
25. 2018-06-30
    soldstatus $900
26. 2018-06-03
    listed $800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $18,723
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − Depreciation: −$4,361
• Taxable loss: −$28
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $2,367/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 2BR/1BA home requires moderate renovations to update the kitchen and bathroom, paint interior walls, and trim overgrown areas. These updates will significantly enhance its resale and rental value.

Repairs flagged

• Major kitchen appliances — outdated and worn
• Major bathroom fixtures — dated and worn
• Moderate exterior siding — weathered and discolored

Value-add opportunities

• Resale update kitchen appliances — modern appliances increase appeal
• Resale update bathroom fixtures — modern fixtures increase appeal
• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace carpet in bedrooms — new carpet improves comfort and appearance
• Both trim overgrown areas — neat landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
exterior siding · weathered and discolored	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$33,000–115,000

Value-add ROI direction

• Resale update kitchen appliances — modern appliances increase appeal ↑
• Resale update bathroom fixtures — modern fixtures increase appeal ↑
• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace carpet in bedrooms — new carpet improves comfort and appearance ↑
• Both trim overgrown areas — neat landscaping enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Accomack County Public School District
• NCES district ID: 5100060
• Math proficiency: 44% ▼ -36.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $40,348
• Composite: 43.05/100
• National rank: #3096
• State rank: #99 of 131 in VA

Livability — Captains Cove

• Score: 63/100
• State rank: #371
• US rank: #14910

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Captains Cove, VA
• Population (ZIP): 1,738

Population outlook (Accomack County) Hauer SSP2

• Today (2025): 32,072 people
• By 2030: 31,425 · -2.0%
• By 2040: 29,685 · -7.4%
• By 2050: 27,748 · -13.5%
• By 2075: 23,396 · -27.1%
• By 2100: 18,774 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 9% Slovak 6% Subsaharan African 2%
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Accomack

• 2024 margin: R (+13.3) · D 43.0% · R 56.3%
• 2008→2024 swing: -11.9pp toward R · 2008: -1.4pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+9.4 2016: R+11.7 2012: R+3.5 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.24%
• Current HPI: 191.9035
• Rent YoY: —
• Metro: —
• 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

+14524.4% since first listed

26 events — show timeline

• 2026-05-12 Price Changed $149,900 ESAR
• 2026-03-26 Price Changed $164,500 ESAR
• 2025-12-16 Relisted — ESAR
• 2025-11-07 Pending — ESAR
• 2025-09-25 Relisted — ESAR
• 2025-09-12 Pending — ESAR
• 2025-07-30 Sold (MLS) $1,100 ESAR
• 2025-07-16 Pending — ESAR
• 2025-07-02 Price Changed $168,900 ESAR
• 2025-06-04 Listed $1,200 ESAR
• 2025-06-03 Listed $175,000 ESAR
• 2024-06-08 Listed $189,900 ESAR
• 2023-06-10 Sold (MLS) $1,050 ESAR
• 2023-05-02 Listed $1,050 ESAR
• 2022-05-10 Sold (MLS) $1,050 ESAR
• 2022-04-13 Listed $1,050 ESAR
• 2021-05-13 Sold (MLS) $1,025 ESAR
• 2021-05-04 Listed $975 ESAR
• 2020-07-29 Sold (MLS) $850 ESAR
• 2020-07-16 Listed $850 ESAR
• 2019-07-18 Sold (MLS) $850 ESAR
• 2019-06-08 Listed $850 ESAR
• 2019-03-27 Listed $850 ESAR
• 2019-03-24 Sold (MLS) $850 ESAR
• 2018-06-30 Sold (MLS) $900 ESAR
• 2018-06-03 Listed $800 ESAR