3300 Chapel Dr · Richmond, VA 23224

$199,950

4 bd · 1.0 ba · 1,314 sqft · SingleFamily public records · 4 Days on market

Built 1950 9,147 sqft lot Est $269k · 26% 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming home offers rare features, solid bones, and incredible potential. This well maintained property showcases beautiful hardwood floors, a cozy fireplace, two main floor bedrooms, and a unique drive through 1 car garage with remote operated doors at both the front and rear, leading directly to a framed carport—ideal for vehicles, projects, or covered outdoor living. Inside, the home includes 1 full bath with tile flooring plus a half bath with new floor, sink, and toilet in the primary suite. The kitchen has been prepped for renovation with the prior sink and cabinets removed; a stove is already in place, allowing you to bring your vision and design to the space. Upstairs, a flex

Key facts

• 9,147 sq ft lot
• Garage
• Built 1950

Property features AI

Exterior

• Parking: Attached garage with garage door opener (1 garage space); Carport; Driveway (paved)
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story property; Resale condition
• Construction: Aluminum siding, frame, plaster, and wood siding construction; Asphalt roof
• Exterior features: Front porch; Paved driveway; Storage shed(s); Chain link partial backyard fence

Interior

• Kitchen: Electric cooking; Laminate flooring in kitchen; Pantry
• Bedrooms: Second-level additional room with carpet; First-level bedroom with hardwood floor; Additional first-level rooms with hardwood and carpet (living room carpeted, dining room hardwood)
• Flooring: Carpet; Tile; Vinyl; Wood (hardwood); Laminate
• Bathrooms: One full bathroom with tub and shower; One half bathroom
• Heating & cooling: Forced-air electric heating; Central air conditioning
• Interior features: Accessible bedroom and other accessibility features; High ceilings; Main level primary bedroom; Pantry; Dining area; Fireplace (decorative, masonry, wood-burning); Bathroom rough-in; Ceiling fans; High-speed internet, cable TV, wired for data
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $261 ($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 $195k (2.3% below list).
• Recommended offer: $195k (2.3% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.3% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Richmond City Public School District (urban): math 32% / reading 47% proficiency, ranked #123 of 131 in VA (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.5%/yr); 173 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• At $1,953/mo this rent would consume 46% of the median local household income ($50k/yr) (locally 3584% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Richmond County population projected at +40% 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.
• Current owner paid $44k; list at $200k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $195,308 (2.3% below list)

Questions for the listing agent

1. Built in 1950 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $269,370
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3028 Laurelbrook Dr	0.15mi	3/1.0 (-1)	1,370 (+4%)	2mo	$299,950	$219	79
1411 Hopkins Rd	0.07mi	4/2.0	1,196 (-9%)	1mo	$210,000	$176	77
3112 Lost Ln	0.20mi	3/1.0 (-1)	1,229 (-6%)	6mo	$220,000	$179	70
1420 Talbert Dr	0.11mi	3/1.0 (-1)	1,504 (+14%)	4mo	$264,950	$176	62
1655 Hopkins Rd	0.32mi	3/1.5 (-1)	1,160 (-12%)	3mo	$295,000	$254	56
3209 Kenyon Ave	0.29mi	3/2.0 (-1)	1,477 (+12%)	8mo	$253,000	$171	50
1041 Welton Ave	0.68mi	3/1.5 (-1)	1,358 (+3%)	10mo	$250,000	$184	48
3601 Decatur St	0.63mi	3/1.0 (-1)	1,428 (+9%)	6mo	$255,000	$179	47
2915 Decatur St	0.73mi	3/2.5 (-1)	1,344 (+2%)	8mo	$275,000	$205	44
3107 Logandale Ave	0.50mi	3/1.0 (-1)	1,118 (-15%)	6mo	$233,900	$209	41
3313 Decatur St	0.61mi	3/2.5 (-1)	1,453 (+11%)	2mo	$360,000	$248	41
3403 Lawson St	0.74mi	3/1.0 (-1)	1,174 (-11%)	10mo	$250,000	$213	34

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 · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.77×
• Total profit: $-12,712
• Equity at exit: $29,813

10-year hold

• IRR: 5.3%
• Equity multiple: 1.42×
• Total profit: $23,310
• Equity at exit: $17,288

Cash invested: $55,986 (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 23224

• Rents YoY: 4.5%
• Active inventory: 173
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,953 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$150 /mo · $1,800/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $261

Break-even live

Break-even rent $1,623

Max offer price $199,950

Occupancy floor 82%

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: $49,988
• Closing costs: $5,998
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3154 Stockton St Richmond, VA	3.0	1.0	1169	$1,600	$1.37	43d	1	0.52mi
1100 Richmond Hwy Richmond, VA	1.0–3.0	1.0–2.0	1062	$2,345	$2.21	1d	16	0.72mi
1410 Enfield Ave Unit 1410 Richmond, VA	3.0	1.0	912	$1,500	$1.64	43d	1	0.85mi
2143 S Kinsley Ave Richmond, VA	4.0	1.0	1297	$1,550	$1.20	43d	1	0.98mi
2208 Keswick Ave Richmond, VA	3.0	1.0	916	$1,775	$1.94	20d	1	1.03mi
3309 Delano St Richmond, VA	3.0	2.0	1542	$1,850	$1.20	43d	1	1.14mi
100 Mardick Rd Richmond, VA	4.0	2.0	1254	$2,250	$1.79	23d	1	1.15mi
1808 Edwards Ave Richmond, VA	3.0	2.0	1040	$1,750	$1.68	23d	1	1.17mi
2522 Porter St Richmond, VA	3.0	2.5	1390	$1,800	$1.29	43d	1	1.23mi
2412 Concord Ave Richmond, VA	3.0	1.0	1222	$1,595	$1.31	23d	1	1.27mi
2309 Concord Ave Richmond, VA	3.0	1.0	1216	$1,865	$1.53	43d	1	1.30mi
2100 Wright Ave Richmond, VA	3.0	1.0	1014	$1,695	$1.67	1d	1	1.31mi
1719 Everett St Richmond, VA	3.0	2.5	1748	$2,255	$1.29	43d	1	1.32mi
1709 Everett St Richmond, VA	4.0	1.5	1460	$1,995	$1.37	43d	1	1.35mi
1112 E 16th St Richmond, VA	4.0	1.0	1206	$1,595	$1.32	43d	1	1.36mi
216 Brandon Rd Richmond, VA	3.0	1.0	1237	$1,800	$1.46	23d	1	1.40mi
1912 Porter St Richmond, VA	3.0	1.5	1415	$1,950	$1.38	23d	1	1.43mi
107 E 16th St Richmond, VA	4.0	2.5	1608	$2,350	$1.46	10d	1	1.44mi
152 Brandon Rd Richmond, VA	3.0	1.0	1237	$2,109	$1.70	23d	1	1.49mi

Listing history 6 events

1. 2026-06-02
   status $199,950 Pending 4 DOM
2. 2026-06-01
   days on market $199,950 Active 4 DOM
3. 2026-05-31
   days on market $199,950 Active 3 DOM
4. 2026-05-19
   historical $199,950
5. 1982-09-17
   soldstatus $43,500
6. 1981-03-31
   soldstatus $34,000

ⓘ 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: $1,800 · $150/mo
• Projected year-2 tax: $1,800 · $150/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 7/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,437
• − Mortgage interest: −$11,200
• − Property taxes: −$1,800
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$5,817
• Taxable loss: −$130
• Est. tax savings @ 24.0%: +$31
• After-tax cash flow: $3,164/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: Richmond City Public School District
• NCES district ID: 5103240
• Math proficiency: 32% ▼ -24.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $40,276
• Composite: 33.09/100
• National rank: #5564
• State rank: #123 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, VA
• County: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 40,575
• Household income: $50,475
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3584.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 262,263 people
• By 2030: 284,503 · +8.5%
• By 2040: 327,353 · +24.8%
• By 2050: 367,946 · +40.3%
• By 2075: 449,560 · +71.4%
• By 2100: 500,301 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 22% White 15% Two or more races 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 17% · Canada
• Languages at home: 78% English-only · Spanish 19% French/Haitian/Cajun 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+66.3) · D 82.0% · R 15.8% · Other 2.2%
• 2008→2024 swing: +7.2pp toward D · 2008: 59.1pp · 2024: 66.3pp
• All cycles: 2024: D+66.3 2020: D+68.0 2016: D+63.8 2012: D+55.7 2008: D+59.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -283.99%
• Current HPI: 336.9345
• Rent YoY: ▲ 4.55%
• 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

+488.1% since first listed

3 events — show timeline

• 2026-05-19 Coming Soon $199,950 CVRMLS
• 1982-09-17 Sold (Public Records) $43,500 Public Records
• 1981-03-31 Sold (Public Records) $34,000 Public Records

Property tax history

-2.5%/yr

Latest (2022): $1,800 · -9.2% YoY. Source: county tax records.