789 Quesnel Dr · Virginia Beach, VA 23454

$338,900

3 bd · 2.5 ba · 1,541 sqft · Townhouse public records · 53 Days on market

Built 1988 Est $339k · at est. $35/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 +11.9/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• DSCR +3.5/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained townhome in sought-after Ocean Lakes! This 3-bed, 2.1-bath home features a great open floor plan with spacious living areas. The updated kitchen shines & features a GAS stove and stainless appliances. Enjoy cozy evenings by the wood-burning fireplace or unwind in a warm, inviting atmosphere. Fenced backyard with attached storage—providing that added storage convenience. The exterior has been freshly cleaned, and the home is ideally located just minutes from shopping, dining, and the best of coastal living.

Key facts

• Open floor plan
• Gas stove
• Updated kitchen

Tags

• OPEN FLOOR PLAN
• UPDATED KITCHEN
• GAS STOVE
• BRAND-NEW REFRIGERATOR
• BRAND-NEW DISHWASHER
• WOOD-BURNING FIREPLACE

Property features AI

Finance

• HOA & community: Has HOA (Ocean Lakes Homeowners Association); HOA dues $35 monthly

Exterior

• Parking: Driveway parking spaces
• Utilities: City/County water; City/County sewer; Gas water heater; Natural gas
• Home design: Attached property; Transitional style; 2 stories; 2 living levels; Simple ownership
• Construction: Vinyl siding; Asphalt shingle roof; Slab foundation
• Exterior features: Back yard fenced; Playgrounds (community); Pool (community); Tennis courts (community)

Interior

• Kitchen: Gas range; Refrigerator; Dishwasher; Breakfast area
• Bedrooms: 1 bedroom with ensuite; Master bedroom with bath
• Flooring: Carpet; Ceramic; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Ceiling fan; Wood-burning fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Utility closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $339k.

Deal economics

• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $323k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (21.7% below list).
• Recommended offer: $265k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Ocean Lakes Elementary (math 68% / reading 76%, grade A-, #273 of 1,108 statewide, top 27%, 571 students, 31% FRL); Corporate Landing Middle (math 66% / reading 77%, grade A, #72 of 342 statewide, top 22%, 1,054 students, 46% FRL); Ocean Lakes High (math 73% / reading 89%, grade A, #52 of 319 statewide, top 17%, 1,855 students, 29% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 209 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 31% of the median local income ($103k/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 $10k 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 53 days — a 3% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $185k; list at $339k implies a 83% 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,339 (21.7% 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. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.78% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.13%
• DSCR: 0.95
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $339,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1635 Mantane Arch	0.19mi	3/2.5	1,544 (+0%)	4mo	$280,000	$181	88
1648 Sword Dancer Dr	0.26mi	3/2.5	1,544 (+0%)	0mo	$270,000	$175	87
1614 Sword Dancer Dr	0.19mi	3/2.5	1,560 (+1%)	3mo	$350,000	$224	87
740 Quesnel Dr	0.08mi	3/2.5	1,427 (-7%)	1mo	$329,500	$231	83
798 Quesnel Dr	0.03mi	3/2.5	1,696 (+10%)	1mo	$362,000	$213	81
776 Goodard Dr	0.17mi	3/2.5	1,428 (-7%)	2mo	$315,000	$221	78
1623 Slidell Ln	0.08mi	3/2.5	1,692 (+10%)	3mo	$345,000	$204	78
725 Hecate Dr	0.13mi	3/2.5	1,696 (+10%)	1mo	$372,500	$220	77
1531 Sword Dancer Dr	0.19mi	3/2.5	1,692 (+10%)	2mo	$345,000	$204	73
736 Hecate Dr	0.11mi	2/2.5 (-1)	1,389 (-10%)	1mo	$300,000	$216	73
1563 Sword Dancer Dr	0.11mi	2/2.5 (-1)	1,400 (-9%)	2mo	$325,000	$232	73
1702 Purchase Arch	0.22mi	2/2.5 (-1)	1,312 (-15%)	1mo	$299,900	$229	59

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 · 6.62% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.47×
• Total profit: $-50,662
• Equity at exit: $50,531

10-year hold

• IRR: -1.0%
• Equity multiple: 0.92×
• Total profit: $-7,409
• Equity at exit: $29,302

Cash invested: $94,892 (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 23454

• Rents YoY: 6.6%
• Active inventory: 209
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,653 high
• Mortgage (P&I): −$1,777
• Tax from tax record: −$232 /mo · $2,788/yr
• Insurance: −$141
• HOA: −$35
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-90

Break-even live

Break-even rent $2,767

Max offer price $323,076

Occupancy floor 98%

Sensitivity live

Price	-10% $102	-5% $6	+0% $-90	+5% $-185	+10% $-281
Rent	-10% $-299	-5% $-194	+0% $-90	+5% $15	+10% $120
Rate	-1.0pp $81	-0.5pp $-3	base $-90	+0.5pp $-177	+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: $84,725
• Closing costs: $10,167
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
792 Quesnel Dr Unit 1 Virginia Beach, VA	3.0	2.5	1616	$2,295	$1.42	9d	1	0.03mi
762 Quesnel Dr Virginia Beach, VA	3.0	2.5	1541	$3,600	$2.34	25d	1	0.09mi
520 Hillshire Way Virginia Beach, VA	4.0	2.5	1634	$2,900	$1.77	25d	1	0.17mi
1631 Sword Dancer Dr Virginia Beach, VA	3.0	2.0	1180	$2,500	$2.12	25d	1	0.20mi
1631 Sword Dancer Dr Virginia Beach, VA	3.0	2.0	1180	$2,500	$2.12	14d	1	0.20mi
501 Hillshire Way Virginia Beach, VA	3.0	2.5	1459	$2,745	$1.88	25d	1	0.22mi
1671 Ocean Bay Dr Virginia Beach, VA	2.0	2.5	1354	$2,100	$1.55	25d	1	0.23mi
1676 Da Vinci Dr Virginia Beach, VA	2.0	1.0	1512	$1,595	$1.05	14d	1	0.47mi
1676 Da Vinci Dr Virginia Beach, VA	2.0	1.0	1512	$1,595	$1.05	6d	1	0.47mi
1473 Levy Ct Virginia Beach, VA	3.0	2.5	1831	$2,795	$1.53	5d	1	0.53mi
512 Fieldstone Glen Way Virginia Beach, VA	3.0	2.5	2100	$2,550	$1.21	25d	1	0.65mi
1808 Haviland Dr Virginia Beach, VA	4.0	2.5	1993	$3,500	$1.76	25d	1	0.84mi
1836 Haviland Dr Virginia Beach, VA	4.0	2.5	1993	$2,895	$1.45	19d	1	0.89mi
1828 Blairmore Arch Virginia Beach, VA	3.0	2.0	1300	$3,000	$2.31	25d	1	1.06mi
1221 Garth Ct Virginia Beach, VA	3.0	2.5	1614	$2,600	$1.61	16d	1	1.24mi
1584 Boles Pl Virginia Beach, VA	3.0	2.5	1902	$2,450	$1.29	6d	1	1.35mi
1230 Gunn Hall Dr Virginia Beach, VA	3.0	2.5	1764	$2,650	$1.50	25d	1	1.37mi
1149 Balch Pl Virginia Beach, VA	3.0	2.5	1450	$2,495	$1.72	22d	1	1.39mi
1149 Balch Pl Virginia Beach, VA	3.0	2.5	1450	$2,495	$1.72	6d	1	1.39mi

HOA detail

• Monthly dues: $35 · $420/yr
• Likely covers: gas

Listing history 12 events

1. 2026-06-07
   statusdays on market $338,900 Under Contract 53 DOM
2. 2026-06-03
   days on market $338,900 Active Under Contract 50 DOM
3. 2026-06-02
   days on market $338,900 Active Under Contract 49 DOM
4. 2026-06-01
   days on market $338,900 Active Under Contract 48 DOM
5. 2026-05-31
   days on market $338,900 Active Under Contract 47 DOM
6. 2026-05-08
   status Active
7. 2026-04-29
   historical Active Under Contract
8. 2026-04-14
   listed $338,900 Active
9. 2018-08-20
   status Under Contract
10. 2018-08-07
    listed $209,900 Active
11. 2015-07-21
    soldstatus $185,000
12. 2003-11-14
    soldstatus $98,000

ⓘ 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: $2,788 · $232/mo
• Projected year-2 tax: $2,788 · $232/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,841
• − Mortgage interest: −$18,984
• − Property taxes: −$2,788
• − Insurance: −$1,694
• − Repairs & maintenance: −$2,547
• − Management: −$2,547
• − HOA: −$420
• − Depreciation: −$9,859
• Taxable loss: −$6,999
• Est. tax savings @ 24.0%: +$1,680
• After-tax cash flow: $605/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): 58,178
• Household income: $102,796
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1696.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 13% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Tagalog/Filipino 1% Chinese 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: ▼ -385.89%
• Current HPI: 328.85
• Rent YoY: ▲ 6.62%
• 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

+245.8% since first listed

7 events — show timeline

• 2026-05-08 Relisted — REINMLS
• 2026-04-29 Contingent — REINMLS
• 2026-04-14 Listed $338,900 REINMLS
• 2018-08-20 Pending — REINMLS
• 2018-08-07 Listed $209,900 REINMLS
• 2015-07-21 Sold (Public Records) $185,000 Public Records
• 2003-11-14 Sold (Public Records) $98,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,788 · +7.7% YoY. Source: county tax records.