3808 William Penn Blvd · Virginia Beach, VA 23452

$233,700

4 bd · 2.0 ba · 1,392 sqft · SingleFamily public records · 1 Days on market

Built 1967 7,553 sqft lot Est $406k · 43% under

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Why this score? — see what drove the C+ 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 +19.9/30.0
• ARV discount +15.0/15.0
• Schools +6.4/10.0
• DSCR +6.3/10.0
• 1% rule +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 7,553 sq ft lot
• Garage
• Built 1967

Property features AI

Exterior

• Parking: Attached garage; Driveway parking; Paved parking; Garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-story property; Entry level is 1; Resale condition
• Construction: Brick, frame and vinyl siding exterior; Composition roof
• Exterior features: Paved driveway; Back yard with fencing; Fenced yard; Level lot

Interior

• Kitchen: Stove
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Wood
• Bathrooms: 2 full bathrooms; Tub and shower in full bath on first level
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Wood flooring; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $234k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (0.8% below list).
• Recommended offer: $232k (0.8% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: schools A+, amenities A+, employment 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.
• Market conditions: Rents rising fast (+4.9%/yr); 226 active listings in the ZIP; 30 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 35% 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 $7k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $16k; list at $234k implies a 1316% 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 $231,902 (0.8% below list)

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.18%
• DSCR: 1.23
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $406,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3841 Colonial Pkwy	0.19mi	4/2.0	1,392 (0%)	2mo	$426,483	$306	90
3905 W Colonial Pkwy	0.28mi	4/2.0	1,372 (-1%)	2mo	$435,000	$317	83
504 Old Forge Cir	0.52mi	4/2.0	1,392 (0%)	0mo	$410,000	$295	76
508 S Kings Point Rd	0.49mi	3/2.0 (-1)	1,388 (-0%)	1mo	$385,000	$277	71
3812 William Penn Blvd	0.02mi	3/2.0 (-1)	1,200 (-14%)	1mo	$400,000	$333	70
253 Waverly Dr	0.63mi	4/2.0	1,400 (+1%)	1mo	$370,000	$264	69
3753 Old Forge Rd	0.53mi	3/2.0 (-1)	1,460 (+5%)	1mo	$375,000	$257	61
3961 W Colonial Pkwy	0.42mi	3/2.0 (-1)	1,236 (-11%)	1mo	$412,600	$334	56
232 Waverly Dr	0.66mi	3/2.0 (-1)	1,456 (+5%)	2mo	$385,000	$264	55
321 Caren Dr	0.68mi	3/2.0 (-1)	1,529 (+10%)	0mo	$308,600	$202	47
3544 Club House Rd	0.75mi	3/2.0 (-1)	1,512 (+9%)	1mo	$385,000	$255	45
3521 Melinda Pl	0.71mi	4/2.0	1,200 (-14%)	2mo	$350,000	$292	42

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-15,325
• Equity at exit: $34,845

10-year hold

• IRR: 5.6%
• Equity multiple: 1.45×
• Total profit: $29,276
• Equity at exit: $20,206

Cash invested: $65,436 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,319 high
• Mortgage (P&I): −$1,226
• Tax from tax record: −$227 /mo · $2,721/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $282

Break-even live

Break-even rent $1,962

Max offer price $233,700

Occupancy floor 83%

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: $58,425
• Closing costs: $7,011
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 Thalia Trace Dr Virginia Beach, VA	3.0	1.5	1248	$1,800	$1.44	1d	1	0.33mi
278 Thalia Trace Dr Virginia Beach, VA	3.0	1.5	1178	$1,900	$1.61	17d	1	0.34mi
3910 Inverness Rd Virginia Beach, VA	3.0	1.5	1200	$2,250	$1.88	14d	1	0.39mi
3632 Silina Dr Virginia Beach, VA	4.0	2.5	1666	$2,495	$1.50	7d	1	0.52mi
220 S Rosemont Rd Virginia Beach, VA	4.0	2.0	1350	$2,650	$1.96	23d	1	0.62mi
212 Paladin Dr Virginia Beach, VA	3.0	2.0	1456	$2,800	$1.92	23d	1	0.72mi
3600 Malibu Palms Dr Virginia Beach, VA	1.0–3.0	1.0–1.5	1025	$2,103	$2.05	2d	19	0.85mi
149 S Budding Ave Virginia Beach, VA	1.0–3.0	1.0–2.0	1100	$2,169	$1.97	1d	30	0.87mi
3444 Terrazzo Trl Virginia Beach, VA	3.0	2.0	1217	$1,650	$1.36	4d	1	0.89mi
3424 Rainey Rd Virginia Beach, VA	3.0	1.0	1002	$1,995	$1.99	7d	1	0.91mi
129 S Plaza Trl Virginia Beach, VA	3.0	1.0	1456	$2,000	$1.37	23d	1	0.96mi
640 Counselor Sq Virginia Beach, VA	3.0	1.5	1320	$2,000	$1.52	14d	1	1.00mi
629 Counselor Sq Virginia Beach, VA	3.0	1.5	1326	$1,995	$1.50	23d	1	1.00mi
621 Chancery Sq Virginia Beach, VA	3.0	1.0	1320	$1,970	$1.49	17d	1	1.01mi
3963 Wyckoff Dr Virginia Beach, VA	3.0	2.5	1536	$2,395	$1.56	23d	1	1.01mi
3564 Faraday Ln Virginia Beach, VA	4.0	2.5	1700	$2,600	$1.53	23d	1	1.02mi
3841 Forrester Ln Virginia Beach, VA	3.0	2.0	1522	$2,300	$1.51	23d	1	1.02mi
104 S Palm Ave Virginia Beach, VA	3.0	2.5	1700	$2,900	$1.71	23d	1	1.07mi
4016 Richard Lee Ct Virginia Beach, VA	3.0	1.5	1470	$2,100	$1.43	2d	1	1.10mi
3416 Alcott Rd Virginia Beach, VA	3.0	1.0	1043	$1,800	$1.73	23d	1	1.14mi
701 Arthur Ave Virginia Beach, VA	4.0	1.5	1404	$2,500	$1.78	17d	1	1.15mi
3996 Roebling Ln Virginia Beach, VA	3.0	2.5	1560	$2,050	$1.31	23d	1	1.16mi
408 Lineberry Rd Virginia Beach, VA	4.0	2.0	1561	$2,700	$1.73	23d	1	1.19mi
412 Lineberry Rd Virginia Beach, VA	4.0	2.5	1014	$2,600	$2.56	21d	1	1.19mi
3825 Annie Ln Virginia Beach, VA	3.0	1.5	1460	$2,100	$1.44	12d	1	1.20mi
717 Grant Ave Virginia Beach, VA	3.0	2.5	1248	$2,160	$1.73	23d	1	1.21mi
344 Dillon Dr Virginia Beach, VA	3.0	1.5	1042	$2,400	$2.30	23d	1	1.37mi
3700 Snowdrift Cir Virginia Beach, VA	1.0–3.0	1.0–2.0	887	$2,599	$2.93	23d	1	1.38mi
3816 Banyan Grove Ln Virginia Beach, VA	1.0–3.0	1.0–2.0	945	$2,630	$2.78	1d	15	1.45mi
833 Tamarack Ct Virginia Beach, VA	3.0	2.0	1650	$2,100	$1.27	16d	1	1.48mi

Listing history 3 events

1. 2026-05-22
   status Pending
2. 2026-04-23
   listed $233,700 Active
3. 1966-03-31
   soldstatus $16,500

ⓘ 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: $2,721 · $227/mo
• Projected year-2 tax: $2,721 · $227/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 3/10 Moderate FEMA zone X (unshaded) · 9% 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: $27,828
• − Mortgage interest: −$13,091
• − Property taxes: −$2,721
• − Insurance: −$1,168
• − Repairs & maintenance: −$2,226
• − Management: −$2,226
• − Depreciation: −$6,799
• Taxable loss: −$403
• Est. tax savings @ 24.0%: +$97
• After-tax cash flow: $3,485/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

+1316.4% since first listed

3 events — show timeline

• 2026-05-22 Pending — CVRMLS
• 2026-04-23 Listed $233,700 CVRMLS
• 1966-03-31 Sold (Public Records) $16,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,721 · +129.1% YoY. Source: county tax records.