3921 Buchanan Dr · Virginia Beach, VA 23453

$235,000

2 bd · 1.5 ba · 1,260 sqft · Townhouse public records · 9 Days on market

Built 1984 Est $306k · 23% under $45/mo HOA · 2% of rent

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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 +15.9/30.0
• ARV discount +15.0/15.0
• Schools +6.4/10.0
• DSCR +4.9/10.0
• Rent growth +4.9/5.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come see this Welcoming Townhome in the heart of Virginia Beach. NEW ROOF, NEW LUXURY VINYL PLANK FLOOING, NEW CARPET, FRESH PAINT. Galley Style Kitchen with Dedicated Dining Room. The Spacious Living Room opens up to a long, enclosed backyard perfect for relaxation and ready for your backyard custom design. Upstairs you'll find two generously sized bedrooms designed for comfort and flexibility with the Primary featuring a roomy Walk-In Closet. This home is here for you to add those final touches to make it yours. Access to community pool, clubhouse, playgrounds are all included in your modest HOA dues. This Home is located in the desirable Landstown school district. Close proximity to shop

Key facts

• Community pool
• Walk in closet
• Galley style kitchen

Tags

• NEW ROOF
• GALLEY STYLE KITCHEN
• DEDICATED DINING ROOM
• ENCLOSED BACKYARD
• WALK IN CLOSET
• COMMUNITY POOL

Property features AI

Finance

• HOA & community: Part of Green Run Homeowners Association; HOA fee $45 monthly; Community amenities include clubhouse, playgrounds, and pool

Exterior

• Parking: Off-street parking; Driveway spaces; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; 2 stories; Slab foundation; Simple ownership
• Construction: Brick and vinyl siding; Asphalt shingle roof
• Exterior features: Back yard with wood fence; Has fence; Lot dimensions 18' x 128'

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: Master bedroom; Additional bedroom; Master bedroom with bath; No bedroom with full bath on first floor
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump; Central air
• Interior features: Ceiling fan; Wood fireplace; Scuttle access; Walk-in closet; Dual-entry bath between bedrooms
• Laundry & utility: Washer and washer hookup; Dryer and dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $235k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/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 $211k (10.4% below list).
• Recommended offer: $211k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Landstown Elementary (math 69% / reading 79%, grade A, #248 of 1,108 statewide, top 23%, 676 students, 44% FRL); Landstown High (math 67% / reading 86%, grade A-, #99 of 319 statewide, top 31%, 2,226 students, 38% FRL).
• Market conditions: Rents rising fast (+9.7%/yr); 99 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); solid renter incomes; 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).

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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $127k; list at $235k implies a 85% 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 $210,536 (10.4% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.90% ✗
• Cap rate: 6.85%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $306,180
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1312 Mikie Ct	0.22mi	3/1.5 (+1)	1,250 (-1%)	1mo	$275,000	$220	83
1725 Dromolin Drive #201	0.42mi	2/2.0	1,316 (+4%)	2mo	$331,180	$252	70
3836 Lasalle Dr #106	0.20mi	2/2.5	1,132 (-10%)	1mo	$254,999	$225	69
1724 Dromolin Dr #202	0.45mi	2/2.0	1,316 (+4%)	1mo	$328,500	$250	68
1732 Dromolin Dr #303	0.37mi	2/2.0	1,352 (+7%)	2mo	$299,900	$222	67
3800 Clarendon Way	0.49mi	2/2.5	1,312 (+4%)	2mo	$330,000	$252	65
3692 Sylvan Ln	0.40mi	3/1.5 (+1)	1,158 (-8%)	2mo	$267,000	$231	61
1620 Brimington Ln	0.60mi	2/2.5	1,329 (+6%)	1mo	$325,000	$245	58
1736 Halesworth Ln	0.60mi	2/2.5	1,327 (+5%)	2mo	$325,000	$245	58
3613 Wetherington Dr #103	0.52mi	3/2.0 (+1)	1,344 (+7%)	1mo	$215,000	$160	56
3541 Sierra Arch	0.66mi	2/1.5	1,354 (+8%)	1mo	$252,500	$186	56
4177 Clarendon Way	0.66mi	2/2.5	1,329 (+6%)	1mo	$323,000	$243	56

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.70×
• Total profit: $-19,962
• Equity at exit: $35,039

10-year hold

• IRR: 7.0%
• Equity multiple: 1.64×
• Total profit: $42,228
• Equity at exit: $20,319

Cash invested: $65,800 (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 23453

• Home prices YoY: -13.4%
• Rents YoY: 9.7%
• Active inventory: 99
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,105 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$178 /mo · $2,136/yr
• Insurance: −$98
• HOA: −$45
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $110

Break-even live

Break-even rent $1,966

Max offer price $235,000

Occupancy floor 90%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 Irvington Ct Virginia Beach, VA	2.0	2.0	999	$2,000	$2.00	23d	1	0.09mi
3702 Canadian Arch Virginia Beach, VA	2.0	1.5	1100	$1,700	$1.55	4d	1	0.31mi
1785 River Rock Arch Virginia Beach, VA	3.0	2.0	1438	$2,350	$1.63	14d	1	0.41mi
1728 Vankar Dr #307 Virginia Beach, VA	2.0	2.0	1316	$2,500	$1.90	17d	1	0.42mi
1728 Vankar Dr #104 Virginia Beach, VA	2.0	2.0	1293	$2,495	$1.93	7d	1	0.42mi
1744 River Rock Arch Virginia Beach, VA	3.0	2.0	1456	$2,495	$1.71	17d	1	0.44mi
1401 Wendfield Dr #103 Virginia Beach, VA	3.0	1.5	1344	$1,850	$1.38	20d	1	0.46mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	4d	1	0.50mi
1404 Wendfield Dr #102 Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	23d	1	0.50mi
1404 Wendfield Dr Virginia Beach, VA	3.0	1.5	1344	$2,000	$1.49	3d	1	0.50mi
3849 Clarendon Way Unit 1 Virginia Beach, VA	2.0	2.5	1349	$2,200	$1.63	12d	1	0.53mi
1752 Halesworth Ln Virginia Beach, VA	2.0	2.5	1324	$2,190	$1.65	23d	1	0.64mi
1752 Halesworth Ln Unit 1 Virginia Beach, VA	2.0	2.5	1329	$2,200	$1.66	23d	1	0.64mi
3521 Sierra Arch Virginia Beach, VA	3.0	1.5	1420	$1,650	$1.16	23d	1	0.64mi
3638 Windmill Dr Virginia Beach, VA	2.0	1.0	934	$1,695	$1.81	10d	1	0.67mi
4156 Clarendon Way Virginia Beach, VA	2.0	2.5	1329	$2,400	$1.81	23d	1	0.71mi
1434 Peony Arch Virginia Beach, VA	3.0	2.0	1407	$2,600	$1.85	23d	1	0.72mi
3560 Windmill Dr Virginia Beach, VA	3.0	1.5	1080	$2,100	$1.94	23d	1	0.77mi
643 Orangewood Dr Virginia Beach, VA	3.0	2.0	1571	$2,495	$1.59	23d	1	0.79mi
4149 MacArthur Rd Virginia Beach, VA	3.0	2.0	1554	$2,145	$1.38	10d	1	0.82mi
4119 Eastham Rd Virginia Beach, VA	3.0	2.0	1505	$3,800	$2.52	23d	1	0.84mi
1792 Moonstone Dr Virginia Beach, VA	3.0	2.5	1756	$2,950	$1.68	16d	1	0.84mi
1792 Moonstone Dr Virginia Beach, VA	3.0	2.5	1756	$2,950	$1.68	23d	1	0.84mi
4529 Turnworth Arch Unit 1 Virginia Beach, VA	3.0	2.5	1800	$2,600	$1.44	7d	1	0.86mi
3517 Plum Cres Virginia Beach, VA	3.0	2.0	1450	$2,200	$1.52	12d	1	0.91mi
4369 Turnworth Arch Virginia Beach, VA	3.0	2.5	1778	$2,450	$1.38	23d	1	0.94mi
4221 Old Lyne Rd Virginia Beach, VA	3.0	2.5	1615	$2,095	$1.30	23d	1	0.97mi
1804 Rock Lake Loop Virginia Beach, VA	3.0	2.5	1602	$2,395	$1.50	7d	1	0.99mi
3500 Green Garden Cir Virginia Beach, VA	2.0	1.0	980	$1,685	$1.72	23d	1	1.02mi
1301 Pine Cone Cir Virginia Beach, VA	1.0–3.0	1.0–2.0	827	$1,874	$2.26	1d	13	1.05mi
4353 Cattail Ln #28 Virginia Beach, VA	3.0	2.5	1695	$2,600	$1.53	10d	1	1.08mi
1400 Dewitt Way Virginia Beach, VA	2.0–3.0	2.0–2.5	1212	$1,700	$1.40	23d	1	1.08mi
1523 Penrose Arch Virginia Beach, VA	2.0	2.0	1126	$1,550	$1.38	3d	1	1.15mi
3480 Landstown Ct Virginia Beach, VA	3.0	2.0	1359	$2,495	$1.84	17d	1	1.17mi
1257 Green Cedar Ln Virginia Beach, VA	2.0	1.5	950	$1,725	$1.82	7d	1	1.23mi
2009 Inverrary Ct Virginia Beach, VA	3.0	2.5	1500	$2,440	$1.63	12d	1	1.28mi
846 Crashaw St Virginia Beach, VA	2.0	2.0	1346	$1,895	$1.41	14d	1	1.28mi
3304 Weeping Willow Ln Virginia Beach, VA	3.0	1.5	1254	$1,750	$1.40	23d	1	1.29mi
807 Foxmoore Ct Virginia Beach, VA	2.0	2.5	1125	$2,000	$1.78	2d	1	1.33mi
1240 White Birch Ln Virginia Beach, VA	3.0	1.5	1254	$1,950	$1.56	17d	1	1.35mi

HOA detail

• Monthly dues: $45 · $540/yr
• Likely covers: landscapingpool

Listing history 10 events

1. 2026-06-07
   statusdays on market $235,000 Under Contract 9 DOM
2. 2026-06-03
   days on market $235,000 Active Under Contract 7 DOM
3. 2026-06-02
   days on market $235,000 Active Under Contract 6 DOM
4. 2026-06-02
   status $235,000 Active Under Contract 5 DOM
5. 2026-06-01
   days on market $235,000 Active 5 DOM
6. 2026-05-31
   days on market $235,000 Active 4 DOM
7. 2026-05-26
   listed $235,000 Active
8. 2026-04-21
   soldstatus $127,000
9. 2006-03-02
   soldstatus $142,000
10. 2003-10-09
    soldstatus $81,600

ⓘ 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: $2,136 · $178/mo
• Projected year-2 tax: $2,136 · $178/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $25,264
• − Mortgage interest: −$13,164
• − Property taxes: −$2,136
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,021
• − Management: −$2,021
• − HOA: −$540
• − Depreciation: −$6,836
• Taxable loss: −$2,629
• Est. tax savings @ 24.0%: +$631
• After-tax cash flow: $1,950/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): 34,482
• Household income: $93,838
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 799.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 46% Black 22% Two or more races 14% Asian 12% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 2% Romanian 2% Italian 1%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 84% English-only · Tagalog/Filipino 6% Spanish 5% Other Indo-European 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: ▼ -52.96%
• Current HPI: 341.8757
• Rent YoY: ▲ 9.69%
• 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

+188.0% since first listed

4 events — show timeline

• 2026-05-26 Listed $235,000 REINMLS
• 2026-04-21 Sold (Public Records) $127,000 Public Records
• 2006-03-02 Sold (Public Records) $142,000 Public Records
• 2003-10-09 Sold (Public Records) $81,600 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,136 · +6.2% YoY. Source: county tax records.