718 Woodbox Dr · Virginia Beach, VA 23462

$275,000

2 bd · 2.5 ba · 1,391 sqft · Townhouse public records · 26 Days on market

Built 1980 Est $287k · at est. $26/mo HOA · 1% 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 +10.0/30.0
• ARV discount +9.3/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained townhome in Virginia Beach featuring two spacious bedrooms, each with its own private full en-suite bath, plus a convenient half bath downstairs for guests. Enjoy durable, scratch-resistant, waterproof luxury vinyl plank flooring throughout the downstairs, offering practicality for everyday living and accommodating pets. New HVAC condenser unit and newer water heater (2021). The layout offers both comfort and functionality, providing flexibility for a variety of needs. Conveniently located near military bases, shopping, dining, and easy interstate access, with close proximity to Town Center of Virginia Beach. Move-in ready!

Key facts

• Half bath downstairs
• Newer water heater
• $26 HOA

Tags

• PRIVATE FULL EN-SUITE BATH
• HALF BATH DOWNSTAIRS
• LUXURY VINYL PLANK FLOORING
• NEW HVAC CONDENSER UNIT
• NEWER WATER HEATER

Property features AI

Finance

• HOA & community: Has HOA (Chimney Hill Community Association); HOA/POA dues $26 monthly; Community amenities: clubhouse, ground maintenance, playgrounds, pool, tennis courts

Exterior

• Parking: 2 parking spaces
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power available
• Home design: Attached townhouse; 2 stories; 2 living levels; Simple ownership; Slab foundation
• Construction: Vinyl exterior; Asphalt shingle roof; Slab foundation
• Exterior features: Vinyl siding; Back yard with wood fence; Has fence; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: 2 bedrooms with ensuite; Master bedroom with bath; Attic
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Cable hookup; Ceiling fan; Scuttle access; Window treatments
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $275k.

Deal economics

• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (26.7% below list).
• Recommended offer: $201k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: White Oaks Elementary (math 51% / reading 64%, grade C+, #588 of 1,108 statewide, top 54%, 679 students, 54% FRL); Larkspur Middle (math 60% / reading 72%, grade A-, #113 of 342 statewide, top 33%, 1,536 students, 60% FRL); Green Run High (math 64% / reading 69%, grade B, #195 of 319 statewide, top 62%, 1,517 students, 69% FRL) — zoned schools average 61% FRL vs 28% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.6%/yr); 229 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).
• This rent runs 35% 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 $2k of loan paydown is wiped out by about $8k 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 26 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; list at $275k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% 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 $201,447 (26.7% 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. 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. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.61%
• DSCR: 0.88
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $286,546
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 Woodbox Dr	0.00mi	2/2.5	1,391 (0%)	1mo	$275,000	$198	99
3817 Chimney Creek Dr	0.09mi	3/2.5 (+1)	1,527 (+10%)	1mo	$285,000	$187	74
3853 Chimney Creek Dr	0.12mi	3/2.5 (+1)	1,527 (+10%)	1mo	$290,000	$190	72
725 Garfield Ave	0.54mi	2/2.5	1,404 (+1%)	1mo	$295,000	$210	72
3768 Governors Way	0.32mi	3/1.5 (+1)	1,362 (-2%)	2mo	$280,000	$206	71
3650 Arthur Ave	0.39mi	3/1.5 (+1)	1,404 (+1%)	1mo	$285,000	$203	70
3612 Essex Pond Quay	0.22mi	3/2.5 (+1)	1,568 (+13%)	1mo	$280,000	$179	63
724 Lincoln Ave	0.52mi	3/1.5 (+1)	1,367 (-2%)	2mo	$315,000	$230	62
3608 Essex Pond Quay	0.22mi	3/2.5 (+1)	1,568 (+13%)	2mo	$287,900	$184	62
732 Garfield Ave	0.57mi	3/1.5 (+1)	1,367 (-2%)	1mo	$304,000	$222	61
887 Hunley Dr	0.45mi	3/2.5 (+1)	1,595 (+15%)	0mo	$366,000	$229	49
906 Hunley Dr	0.46mi	3/2.5 (+1)	1,595 (+15%)	1mo	$350,000	$219	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 · 5.61% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.35×
• Total profit: $-49,869
• Equity at exit: $41,003

10-year hold

• IRR: -6.2%
• Equity multiple: 0.56×
• Total profit: $-33,906
• Equity at exit: $23,777

Cash invested: $77,000 (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 23462

• Rents YoY: 5.6%
• Active inventory: 229
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,014 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$176 /mo · $2,117/yr
• Insurance: −$115
• HOA: −$26
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-168

Break-even live

Break-even rent $2,227

Max offer price $245,382

Occupancy floor —

Sensitivity live

Price	-10% $-12	-5% $-90	+0% $-168	+5% $-245	+10% $-323
Rent	-10% $-327	-5% $-247	+0% $-168	+5% $-88	+10% $-9
Rate	-1.0pp $-29	-0.5pp $-98	base $-168	+0.5pp $-239	+1.0pp $-311

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3700 Snowdrift Cir Virginia Beach, VA	1.0–3.0	1.0–2.0	887	$2,164	$2.44	25d	1	0.21mi
3841 Forrester Ln Virginia Beach, VA	3.0	2.0	1522	$2,300	$1.51	25d	1	0.22mi
724 Harbor Springs Trl Virginia Beach, VA	2.0	2.0	1200	$1,795	$1.50	14d	1	0.23mi
640 Counselor Sq Virginia Beach, VA	3.0	1.5	1320	$2,000	$1.52	16d	1	0.29mi
726 Hayes Ave Virginia Beach, VA	2.0	1.5	1008	$1,700	$1.69	25d	1	0.31mi
629 Counselor Sq Virginia Beach, VA	3.0	1.5	1326	$1,995	$1.50	25d	1	0.32mi
621 Chancery Sq Virginia Beach, VA	3.0	1.0	1320	$1,970	$1.49	19d	1	0.39mi
717 Grant Ave Virginia Beach, VA	3.0	2.5	1248	$2,160	$1.73	25d	1	0.39mi
3816 Banyan Grove Ln Virginia Beach, VA	1.0–3.0	1.0–2.0	945	$2,298	$2.43	3d	15	0.41mi
846 Crashaw St Virginia Beach, VA	2.0	2.0	1346	$1,895	$1.41	16d	1	0.44mi
3923 Lake Front Cir Virginia Beach, VA	1.0–2.0	1.0	918	$1,845	$2.01	12d	1	0.51mi
4016 Richard Lee Ct Virginia Beach, VA	3.0	1.5	1470	$2,100	$1.43	4d	1	0.53mi
713 Willow Lake Cir Virginia Beach, VA	1.0–2.0	1.0–2.0	1041	$2,475	$2.38	25d	1	0.57mi
833 Tamarack Ct Virginia Beach, VA	3.0	2.0	1650	$2,100	$1.27	18d	1	0.64mi
3416 Hollygreen Dr Virginia Beach, VA	2.0	1.0	960	$1,754	$1.83	25d	5	0.68mi
3955 Marina Lake Rd Virginia Beach, VA	1.0–2.0	1.0–2.0	870	$1,960	$2.25	12d	1	0.70mi
3745 Edenberry Ct Virginia Beach, VA	1.0	1.0	920	$1,699	$1.85	3d	1	0.76mi
3745 Edenberry Ct Virginia Beach, VA	2.0	2.0	1044	$1,899	$1.82	6d	1	0.76mi
807 Foxmoore Ct Virginia Beach, VA	2.0	2.5	1125	$2,000	$1.78	4d	1	0.85mi
4217 S Plaza Trl Virginia Beach, VA	1.0–2.0	1.0–2.0	1450	$2,325	$1.60	12d	1	0.85mi
3560 Windmill Dr Virginia Beach, VA	3.0	1.5	1080	$2,100	$1.94	25d	1	0.89mi
643 Orangewood Dr Virginia Beach, VA	3.0	2.0	1571	$2,495	$1.59	25d	1	0.92mi
3638 Windmill Dr Virginia Beach, VA	2.0	1.0	934	$1,695	$1.81	12d	1	0.99mi
1012 Grassland Ct Virginia Beach, VA	3.0	2.0	1021	$2,050	$2.01	25d	1	1.02mi
4133 Shoreline Cir Virginia Beach, VA	1.0–2.0	1.0–2.0	964	$2,000	$2.07	12d	1	1.11mi
1500 Chase Arbor Cmn Virginia Beach, VA	1.0–2.0	1.0–2.0	895	$2,178	$2.43	4d	24	1.14mi
1409 Northface Ct Virginia Beach, VA	2.0	1.5	1178	$1,750	$1.49	9d	1	1.17mi
3424 Rainey Rd Virginia Beach, VA	3.0	1.0	1002	$1,995	$1.99	9d	1	1.22mi
4119 Eastham Rd Virginia Beach, VA	3.0	2.0	1505	$3,800	$2.52	25d	1	1.25mi
3500 Green Garden Cir Virginia Beach, VA	2.0	1.0	980	$1,685	$1.72	25d	1	1.31mi
3444 Terrazzo Trl Virginia Beach, VA	3.0	2.0	1217	$1,650	$1.36	6d	1	1.31mi
3517 Plum Cres Virginia Beach, VA	3.0	2.0	1450	$2,200	$1.52	14d	1	1.32mi
3521 Sierra Arch Virginia Beach, VA	3.0	1.5	1420	$1,650	$1.16	25d	1	1.34mi
4221 Old Lyne Rd Virginia Beach, VA	3.0	2.5	1615	$2,095	$1.30	25d	1	1.34mi
1401 Wendfield Dr #103 Virginia Beach, VA	3.0	1.5	1344	$1,850	$1.38	22d	1	1.36mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	25d	1	1.37mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	6d	1	1.37mi
1404 Wendfield Dr Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	5d	1	1.37mi
4425 Duffy Dr Virginia Beach, VA	2.0	2.5	1388	$2,050	$1.48	14d	1	1.40mi
1523 Penrose Arch Virginia Beach, VA	2.0	2.0	1126	$1,550	$1.38	5d	1	1.47mi

HOA detail

• Monthly dues: $26 · $312/yr
• Likely covers: water

Listing history 8 events

1. 2026-05-19
   status Under Contract
2. 2026-04-25
   historical Active Under Contract
3. 2026-04-23
   listed $275,000 Active
4. 2014-06-02
   price $139,900 Active
5. 2014-05-20
   price $143,000 Active
6. 2013-07-09
   soldstatus $119,500
7. 2003-03-18
   soldstatus $81,500
8. 2002-06-04
   soldstatus $61,000

ⓘ 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: $2,117 · $176/mo
• Projected year-2 tax: $2,255 · $188/mo
• Expected delta: +$138/yr (+$12/mo · 6.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $24,174
• − Mortgage interest: −$15,404
• − Property taxes: −$2,117
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − HOA: −$312
• − Depreciation: −$8,000
• Taxable loss: −$6,902
• Est. tax savings @ 24.0%: +$1,656
• After-tax cash flow: $-355/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): 66,151
• Household income: $69,040
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 3906.0

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 0.68)
• Race & ethnicity: White 45% Black 32% Hispanic / Latino 12% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% 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: ▼ -269.19%
• Current HPI: 333.1908
• Rent YoY: ▲ 5.61%
• 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

+350.8% since first listed

8 events — show timeline

• 2026-05-19 Pending — REINMLS
• 2026-04-25 Contingent — REINMLS
• 2026-04-23 Listed $275,000 REINMLS
• 2014-06-02 Price Changed $139,900 REINMLS
• 2014-05-20 Price Changed $143,000 REINMLS
• 2013-07-09 Sold (Public Records) $119,500 Public Records
• 2003-03-18 Sold (Public Records) $81,500 Public Records
• 2002-06-04 Sold (Public Records) $61,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,117 · +6.8% YoY. Source: county tax records.