2001 Candlelight Dr · Chesapeake, VA 23325

$160,000

3 bd · 3.0 ba · 1,414 sqft · Townhouse public records · 1 Days on market

Built 1987 Est $305k · 48% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +5.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Built 1987

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 10.9% vs local median 3.8% in Chesapeake — 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 70/100 on livability (#236 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, cost of living C-, amenities F.
• Chesapeake City Public School District (suburban): math 58% / reading 74% proficiency, ranked #31 of 131 in VA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Georgetown Primary (math 62% / reading 67%, grade B, #416 of 1,108 statewide, top 41%, 780 students, 92% FRL); Indian River High (math 69% / reading 73%, grade B+, #146 of 319 statewide, top 47%, 1,701 students, 71% FRL) — zoned schools average 82% FRL vs 28% district-wide (54 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 66 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($70k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Chesapeake County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $160,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.57%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $305,424
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2011 Candlelight Dr	0.02mi	3/2.5	1,400 (-1%)	2mo	$310,000	$221	94
2021 Candlelight Dr	0.04mi	3/2.5	1,421 (+0%)	3mo	$280,000	$197	92
1922 Candlelight Dr	0.07mi	3/2.5	1,377 (-3%)	1mo	$290,000	$211	90
2034 Allison Dr	0.06mi	3/2.5	1,451 (+3%)	6mo	$250,000	$172	86
2053 Allison Dr	0.09mi	2/2.5 (-1)	1,446 (+2%)	8mo	$239,900	$166	79
2827 Estella Way	0.39mi	3/2.5	1,478 (+4%)	2mo	$325,000	$220	70
1831 Hearthside Ct	0.07mi	3/1.5	1,218 (-14%)	6mo	$268,000	$220	63
63 Colonial Way	0.25mi	3/1.5	1,221 (-14%)	1mo	$180,000	$147	58
2223 Holly Berry Ln	0.41mi	3/2.5	1,535 (+9%)	8mo	$329,000	$214	58
69 Colonial Way	0.26mi	3/1.5	1,212 (-14%)	2mo	$279,900	$231	56
25 King George Quay	0.35mi	2/2.5 (-1)	1,252 (-12%)	8mo	$271,000	$216	51
66 King George Quay	0.45mi	2/2.5 (-1)	1,251 (-12%)	4mo	$280,000	$224	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $13,506
• Equity at exit: $23,857

10-year hold

• IRR: 17.0%
• Equity multiple: 2.40×
• Total profit: $62,649
• Equity at exit: $13,834

Cash invested: $44,800 (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 23325

• Active inventory: 66
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,197 high
• Mortgage (P&I): −$839
• Tax from tax record: −$212 /mo · $2,540/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $619

Break-even live

Break-even rent $1,414

Max offer price $160,000

Occupancy floor 67%

Sensitivity live

Price	-10% $709	-5% $664	+0% $619	+5% $573	+10% $528
Rent	-10% $445	-5% $532	+0% $619	+5% $705	+10% $792
Rate	-1.0pp $699	-0.5pp $659	base $619	+0.5pp $577	+1.0pp $535

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1947 Candlelight Dr Chesapeake, VA	3.0	2.5	1417	$2,000	$1.41	21d	1	0.03mi
67 King George Quay Chesapeake, VA	3.0	1.5	1298	$1,900	$1.46	5d	1	0.44mi
3000 Waverton Pkwy Chesapeake, VA	2.0–3.0	1.0–2.0	1037	$1,510	$1.46	25d	1	0.78mi
2540 Holly Point Blvd Chesapeake, VA	1.0–3.0	1.0–2.0	1250	$2,680	$2.14	3d	20	0.92mi
1212 Triple Crown Cir Chesapeake, VA	1.0–2.0	1.0–2.0	965	$2,180	$2.26	3d	24	0.93mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	3d	1	1.09mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	25d	1	1.09mi
929 Wintercress Way Chesapeake, VA	3.0	1.0–2.0	898	$2,742	$3.05	5d	17	1.33mi
103 Duffield Pl Chesapeake, VA	3.0	2.0	1372	$2,200	$1.60	25d	1	1.39mi
2001 Angora Dr Chesapeake, VA	4.0	2.0	1539	$2,850	$1.85	17d	1	1.40mi
2620 Sunrise Ave Chesapeake, VA	3.0	1.5	1462	$1,850	$1.27	25d	1	1.42mi
150 Coveside Ln Chesapeake, VA	1.0–3.0	1.0–2.0	1120	$2,779	$2.48	3d	29	1.44mi
2638 King Ct Chesapeake, VA	3.0	1.5	1462	$2,000	$1.37	21d	1	1.47mi

Listing history 6 events

1. 2025-09-24
   status Under Contract
2. 2025-09-23
   listed $160,000 Active
3. 2018-08-16
   soldstatus $155,000
4. 2018-08-06
   status Under Contract
5. 2018-07-10
   listed $155,000 Active
6. 1988-04-04
   soldstatus $83,900

ⓘ 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: $2,540 · $212/mo
• Projected year-2 tax: $2,540 · $212/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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,368
• − Mortgage interest: −$8,962
• − Property taxes: −$2,540
• − Insurance: −$800
• − Repairs & maintenance: −$2,109
• − Management: −$2,109
• − Depreciation: −$4,655
• Taxable income: $5,192
• Est. tax owed @ 24.0%: −$1,246
• After-tax cash flow: $6,176/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: Chesapeake City Public School District
• NCES district ID: 5100810
• Math proficiency: 58% ▼ -29.00%
• Reading proficiency: 74% ▼ -7.00%
• Median HH income: $69,356
• Composite: 57.84/100
• National rank: #1047
• State rank: #31 of 131 in VA

Livability — Chesapeake

• Score: 70/100
• State rank: #236
• US rank: #7942

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chesapeake, VA
• County: Chesapeake City · 253,091 people
• City population: 253,091
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 19,138
• Household income: $69,909
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 755.0

Population outlook (Chesapeake County) Hauer SSP2

• Today (2025): 263,804 people
• By 2030: 276,798 · +4.9%
• By 2040: 299,906 · +13.7%
• By 2050: 318,284 · +20.7%
• By 2075: 362,137 · +37.3%
• By 2100: 372,225 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 45% White 40% Hispanic / Latino 7% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Italian 2% Serbian 1%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 2% Vietnamese 1%

Political lean MEDSL · Chesapeake

• 2024 margin: Toss-up / Even · D 51.3% · R 47.5% · Other 1.2%
• 2008→2024 swing: +2.5pp toward D · 2008: 1.3pp · 2024: 3.8pp
• All cycles: 2024: D+3.8 2020: D+6.5 2016: R+1.3 2012: D+1.1 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -252.24%
• Current HPI: 309.2112
• Rent YoY: —
• 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

+90.7% since first listed

6 events — show timeline

• 2025-09-24 Pending — REINMLS
• 2025-09-23 Listed $160,000 REINMLS
• 2018-08-16 Sold (Public Records) $155,000 Public Records
• 2018-08-06 Pending — REINMLS
• 2018-07-10 Listed $155,000 REINMLS
• 1988-04-04 Sold (Public Records) $83,900 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,540 · +6.3% YoY. Source: county tax records.