10609 Shadrach Ct · Glen Allen, VA 23059

$399,950

3 bd · 2.5 ba · 1,734 sqft · SingleFamily public records · 4 Days on market

Built 2000 8,542 sqft lot $231/sqft · 16% below area Est $474k · 16% under $50/mo HOA · 2% 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).

• ARV discount +14.5/15.0
• Cash flow +7.1/30.0
• Schools +4.9/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

LIKE NEW! BRAND NEW LISTING IN MAGNOLIA RIDGE! VERY OPEN FLOOR PLAN, FRESH PAINT THROUGHOUT, BRAND NEW CARPET IN FAM. RM, STAIRS, HALL AND ONE BEDRM, HARDWOOD FLOOR IN FOYER AND DINING ROOM! CEILING FANS THROUGHOUT, BREAKFAST NOOK OFF KITCHEN. FENCED IN REAR YARD WITH DECK AND MATCHING DETACHED SHED. CONVENIENT ACCESS TO POOL, TENNIS COURTS AND PLAYGROU

Key facts

• Pickleball courts
• Community pool
• Tennis courts

Tags

• MAGNOLIA RIDGE COMMUNITY
• COMMUNITY POOL
• BASKETBALL COURT
• PICKLEBALL COURTS
• TENNIS COURTS
• PLAYGROUND

Property features AI

Finance

• HOA & community: Homeowners association with quarterly fee; Association fee covers clubhouse, common areas, pool(s), and recreation facilities; Community features include clubhouse, playground, basketball court, and common grounds

Exterior

• Parking: Driveway; Off-street paved parking
• Utilities: Public water; Public sewer
• Home design: Two-story home; Resale property
• Construction: Vinyl siding; Frame construction; Drywall interior; Composition roof
• Exterior features: Deck; Porch; Front porch; Paved driveway; Fenced backyard; Located on a cul-de-sac; Community pool

Interior

• Kitchen: Electric cooking; Stove; Microwave; Dishwasher; Disposal; Refrigerator; Laminate counters; Eat-in kitchen with breakfast area and pantry
• Bedrooms: Total rooms: 6
• Flooring: Partially carpeted; Vinyl; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Electric heating; Zoned heating; Zoned cooling
• Interior features: Breakfast area; Ceiling fan(s); Separate/formal dining room; Eat-in kitchen; Fireplace (gas); Jetted tub; Laminate counters; Bath in primary bedroom; Pantry; Walk-in closet(s); Crawl space basement
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-572 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (25.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (37.4% below list).
• Recommended offer: $251k (37.4% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.5% in Glen Allen — 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 76/100 on livability (#108 in VA, #3,369 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, commute F.
• Henrico County Public School District (suburban): math 49% / reading 64% proficiency, ranked #68 of 131 in VA (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.1%/yr); 331 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,826 units permitted in Henrico County in 2024 (785 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Henrico County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $250,529 (37.4% 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: 0.63% ✗
• Cap rate: 4.58%
• Cash-on-cash: -6.13%
• DSCR: 0.73
• GRM: 13.3

CMA / ARV

• ARV (median comp): $474,048
• List price: $399,950
• Delta: -15.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10609 Shadrach Ct	0.00mi	3/2.5	1,734 (0%)	0mo	$400,000	$231	100
10624 Runnymeade Dr	0.29mi	3/2.0	1,920 (+11%)	5mo	$495,000	$258	62
5024 Rivermere Ln	0.59mi	3/2.0	1,832 (+6%)	10mo	$585,000	$319	53
10505 Wylie Ln	0.31mi	4/2.5 (+1)	1,971 (+14%)	18mo	$435,000	$221	42
10012 Washington Blvd	0.74mi	4/2.5 (+1)	1,694 (-2%)	21mo	$399,000	$236	39
1217 Old Francis Rd	0.70mi	4/2.0 (+1)	1,512 (-13%)	9mo	$375,000	$248	31
10025 Washington Blvd	0.71mi	4/2.0 (+1)	1,584 (-9%)	17mo	$385,000	$243	31
10121 Highview Ave	0.59mi	4/2.0 (+1)	1,495 (-14%)	19mo	$335,000	$224	27

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 · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -24.8%
• Equity multiple: 0.14×
• Total profit: $-95,838
• Equity at exit: $59,634

10-year hold

• IRR: -15.8%
• Equity multiple: 0.04×
• Total profit: $-107,225
• Equity at exit: $34,580

Cash invested: $111,986 (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 23059

• Home prices YoY: -32.2%
• Rents YoY: 5.1%
• Active inventory: 331
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,505 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$237 /mo · $2,844/yr
• Insurance: −$167
• HOA: −$50
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-572

Break-even live

Break-even rent $3,229

Max offer price $298,937

Occupancy floor —

Sensitivity live

Price	-10% $-345	-5% $-459	+0% $-572	+5% $-685	+10% $-798
Rent	-10% $-770	-5% $-671	+0% $-572	+5% $-473	+10% $-374
Rate	-1.0pp $-370	-0.5pp $-470	base $-572	+0.5pp $-675	+1.0pp $-781

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: $99,988
• Closing costs: $11,998
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1609 Cadmus Ct Glen Allen, VA	3.0	2.5	2000	$2,500	$1.25	25d	1	0.26mi
10740 Mill Rd Glen Allen, VA	1.0–3.0	1.0–2.0	1069	$2,625	$2.46	2d	10	0.27mi
1200 Virginia Center Pkwy Glen Allen, VA	1.0–3.0	1.0–2.0	1022	$2,395	$2.34	3d	36	0.40mi
10873 Farmstead Mill Ln Glen Allen, VA	3.0	2.5	1957	$2,800	$1.43	21d	1	0.52mi
10144 All Star Blvd Glen Allen, VA	3.0	3.0	1996	$2,600	$1.30	3d	1	0.52mi
10860 Farmstead Mill Ln Glen Allen, VA	3.0	2.5	1687	$2,900	$1.72	45d	1	0.53mi
9724 Virginia Centerway Pl Glen Allen, VA	2.0–3.0	2.0	1212	$1,663	$1.37	45d	1	0.54mi
9935 Golden Trout Ln Glen Allen, VA	3.0	3.0	1996	$2,550	$1.28	45d	1	0.54mi
1007 Ethelwood Rd Glen Allen, VA	3.0	2.0	1300	$2,350	$1.81	45d	1	0.67mi
10551 Telegraph Rd Glen Allen, VA	2.0	1.0–2.0	840	$2,590	$3.08	2d	202	0.91mi
816 Francis Rd Glen Allen, VA	4.0	2.5	1876	$2,750	$1.47	45d	1	0.96mi
2020 Knotty Dr Unit NA Glen Allen, VA	3.0	2.5	1380	$2,600	$1.88	45d	1	1.01mi
2020 Knotty Dr Glen Allen, VA	3.0	2.5	1380	$2,600	$1.88	13d	1	1.01mi
1300 Meadowfield Ln Glen Allen, VA	1.0–3.0	1.0–2.0	900	$1,817	$2.02	3d	6	1.29mi
10506 Marions Way Glen Allen, VA	3.0	3.5	2071	$2,550	$1.23	22d	1	1.34mi
811 Brassie Ln Glen Allen, VA	2.0	2.0	1150	$1,822	$1.58	4d	1	1.34mi
10253 Lakeridge Square Ct Ashland, VA	2.0	2.0	1022	$1,852	$1.81	0d	18	1.37mi
9410 Links Ln Unit H Glen Allen, VA	2.0	2.0	1150	$1,670	$1.45	18d	1	1.41mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: pool

Listing history 7 events

1. 2026-05-18
   status Pending 1404-char remark
2. 2026-05-14
   listed $399,950 Active 1404-char remark
3. 2003-08-29
   soldstatus $182,500 355-char remark

   Show marketing remark (355 chars)

   LIKE NEW! BRAND NEW LISTING IN MAGNOLIA RIDGE! VERY OPEN FLOOR PLAN, FRESH PAINT THROUGHOUT, BRAND NEW CARPET IN FAM. RM, STAIRS, HALL AND ONE BEDRM, HARDWOOD FLOOR IN FOYER AND DINING ROOM! CEILING FANS THROUGHOUT, BREAKFAST NOOK OFF KITCHEN. FENCED IN REAR YARD WITH DECK AND MATCHING DETACHED SHED. CONVENIENT ACCESS TO POOL, TENNIS COURTS AND PLAYGROU

4. 2003-08-29
   soldstatus $182,500

   Show marketing remark (355 chars)

   LIKE NEW! BRAND NEW LISTING IN MAGNOLIA RIDGE! VERY OPEN FLOOR PLAN, FRESH PAINT THROUGHOUT, BRAND NEW CARPET IN FAM. RM, STAIRS, HALL AND ONE BEDRM, HARDWOOD FLOOR IN FOYER AND DINING ROOM! CEILING FANS THROUGHOUT, BREAKFAST NOOK OFF KITCHEN. FENCED IN REAR YARD WITH DECK AND MATCHING DETACHED SHED. CONVENIENT ACCESS TO POOL, TENNIS COURTS AND PLAYGROU

5. 2003-08-29
   soldstatus $182,500

   Show marketing remark (355 chars)

   LIKE NEW! BRAND NEW LISTING IN MAGNOLIA RIDGE! VERY OPEN FLOOR PLAN, FRESH PAINT THROUGHOUT, BRAND NEW CARPET IN FAM. RM, STAIRS, HALL AND ONE BEDRM, HARDWOOD FLOOR IN FOYER AND DINING ROOM! CEILING FANS THROUGHOUT, BREAKFAST NOOK OFF KITCHEN. FENCED IN REAR YARD WITH DECK AND MATCHING DETACHED SHED. CONVENIENT ACCESS TO POOL, TENNIS COURTS AND PLAYGROU

6. 2003-06-20
   listed $180,000 355-char remark

   Show marketing remark (355 chars)

   LIKE NEW! BRAND NEW LISTING IN MAGNOLIA RIDGE! VERY OPEN FLOOR PLAN, FRESH PAINT THROUGHOUT, BRAND NEW CARPET IN FAM. RM, STAIRS, HALL AND ONE BEDRM, HARDWOOD FLOOR IN FOYER AND DINING ROOM! CEILING FANS THROUGHOUT, BREAKFAST NOOK OFF KITCHEN. FENCED IN REAR YARD WITH DECK AND MATCHING DETACHED SHED. CONVENIENT ACCESS TO POOL, TENNIS COURTS AND PLAYGROU

7. 2003-06-20
   listed $180,000

   Show marketing remark (355 chars)

   LIKE NEW! BRAND NEW LISTING IN MAGNOLIA RIDGE! VERY OPEN FLOOR PLAN, FRESH PAINT THROUGHOUT, BRAND NEW CARPET IN FAM. RM, STAIRS, HALL AND ONE BEDRM, HARDWOOD FLOOR IN FOYER AND DINING ROOM! CEILING FANS THROUGHOUT, BREAKFAST NOOK OFF KITCHEN. FENCED IN REAR YARD WITH DECK AND MATCHING DETACHED SHED. CONVENIENT ACCESS TO POOL, TENNIS COURTS AND PLAYGROU

ⓘ 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: $2,844 · $237/mo
• Projected year-2 tax: $3,280 · $273/mo
• Expected delta: +$436/yr (+$36/mo · 15.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $30,063
• − Mortgage interest: −$22,403
• − Property taxes: −$2,844
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,405
• − Management: −$2,405
• − HOA: −$600
• − Depreciation: −$11,635
• Taxable loss: −$14,228
• Est. tax savings @ 24.0%: +$3,415
• After-tax cash flow: $-3,447/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: Henrico County Public School District
• NCES district ID: 5101890
• Math proficiency: 49% ▼ -32.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $61,854
• Composite: 49.25/100
• National rank: #2031
• State rank: #68 of 131 in VA

Livability — Glen Allen

• Score: 76/100
• State rank: #108
• US rank: #3369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Allen, VA
• County: Hanover County · 134,767 people
• City population: 79,019
• Metro: Richmond, VA
• Population (ZIP): 42,522
• Household income: $157,897
• Rent vs Own: 21.6% rent · 78.4% own
• Severe rent burden: 406.0

Population outlook (Henrico County) Hauer SSP2

• Today (2025): 365,885 people
• By 2030: 384,255 · +5.0%
• By 2040: 416,688 · +13.9%
• By 2050: 442,376 · +20.9%
• By 2075: 488,037 · +33.4%
• By 2100: 487,430 · +33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Asian 25% Black 8% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Italian 2% Romanian 2%
• Foreign-born: 22% · Canada, China, South Korea
• Languages at home: 77% English-only · Other Asian/Pacific 9% Other Indo-European 6% Chinese 2%

Political lean MEDSL · Henrico

• 2024 margin: Strong D (+28.9) · D 63.7% · R 34.8% · Other 1.5%
• 2008→2024 swing: +16.6pp toward D · 2008: 12.2pp · 2024: 28.9pp
• All cycles: 2024: D+28.9 2020: D+29.0 2016: D+21.0 2012: D+11.7 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.87%
• Current HPI: 242.061
• Rent YoY: ▲ 5.13%
• Metro: Richmond, VA
• 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

+122.2% since first listed

8 events — show timeline

• 2026-06-08 Sold (MLS) $400,000 CVRMLS
• 2026-05-18 Pending — CVRMLS
• 2026-05-14 Listed $399,950 CVRMLS
• 2003-08-29 Sold (Public Records) $182,500 Public Records
• 2003-08-29 Sold (MLS) $182,500 CVRMLS
• 2003-08-29 Sold (MLS) $182,500 CVRMLS
• 2003-06-20 Listed $180,000 CVRMLS
• 2003-06-20 Listed $180,000 CVRMLS

Property tax history

+4.2%/yr

Latest (2025): $2,844 · +0.1% YoY. Source: county tax records.