1B Perseus Ln · Charlottesville, VA 22901

$389,990

3 bd · 2.5 ba · 2,617 sqft · Townhouse · 35 Days on market

Built 2026 Excellent condition Garage $149/sqft · 13% below area Est $447k · 13% under $228/mo HOA · 8% 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 +13.2/15.0
• Cash flow +6.7/30.0
• Schools +6.3/10.0
• Condition / age +4.8/5.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• 1% rule +2.5/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully designed with spacious, upscale living in mind, the to-be-built Picasso offers the space and feel of a two-story, townhome-style floor plan with a 1-car garage in a prime Charlottesville location just off Berkmar Drive. The open-concept main level creates an airy, elegant setting for both everyday living and entertaining, featuring a chef-inspired kitchen with a large island, seamless flow into the dining area and great room, and access to a sky lanai for elevated indoor-outdoor living. A half bath on the main level adds convenience. Upstairs, the owner’s suite serves as a luxurious private retreat with two walk-in closets and a spacious bath with separate vanities.

Key facts

• Sky lanai
• Two story floor plan
• Owner's suite

Tags

• TWO STORY FLOOR PLAN
• CHEF INSPIRED KITCHEN
• SKY LANAI
• OWNER'S SUITE
• MOUNTAIN VIEWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $390k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-616 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $301k (22.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (25.1% below list).
• Recommended offer: $292k (25.1% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.9% in Charlottesville — 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 (#27 in VA, #707 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living D, crime D-.
• Albemarle County Public School District (rural): math 66% / reading 77% proficiency, ranked #14 of 131 in VA (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Agnor-Hurt Elementary (math 42% / reading 52%, grade D-, #794 of 1,108 statewide, top 74%, 438 students, 73% FRL); Jackson P. Burley Middle (math 59% / reading 71%, grade A-, #120 of 342 statewide, top 35%, 586 students, 45% FRL); Albemarle High (math 70% / reading 85%, grade A-, #83 of 319 statewide, top 28%, 1,987 students, 34% FRL) — zoned schools average 51% FRL vs 23% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 601 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 140d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 810 units permitted in Albemarle County in 2024 (188 in 5+ unit buildings).
• This rent runs 38% of the median local income ($92k/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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Albemarle County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $292,091 (25.1% 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. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 4.40%
• Cash-on-cash: -6.77%
• DSCR: 0.70
• GRM: 11.1

CMA / ARV

• ARV (median comp): $446,817
• List price: $389,990
• Delta: -12.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4066A Perseus Ln	0.01mi	3/2.5	2,617 (0%)	0mo	$389,000	$149	100
4070A Perseus Ln	0.01mi	3/2.5	2,617 (0%)	0mo	$384,000	$147	100
802 Wesley Ln Unit B	0.84mi	3/2.5	2,564 (-2%)	13mo	$419,800	$164	51
602 Noush Ct Unit B	0.92mi	3/2.5	2,345 (-10%)	3mo	$425,000	$181	45
822 Wesley Ln Unit B	0.81mi	3/2.5	2,451 (-6%)	11mo	$404,000	$165	45
913 Salamander St Unit B	0.95mi	3/2.5	2,451 (-6%)	16mo	$409,900	$167	41
654 Noush Ct Unit B	0.82mi	3/2.5	2,451 (-6%)	22mo	$385,000	$157	36
678 Noush Ct Unit B	0.79mi	3/2.5	2,345 (-10%)	17mo	$405,000	$173	34
680 Noush Ct Unit B	0.79mi	3/2.5	2,345 (-10%)	18mo	$420,000	$179	33

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 · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -28.2%
• Equity multiple: 0.06×
• Total profit: $-102,748
• Equity at exit: $58,149

10-year hold

• IRR: -27.7%
• Equity multiple: -0.29×
• Total profit: $-141,369
• Equity at exit: $33,719

Cash invested: $109,197 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 14 active · 12 under contract
• Months of supply: 28.0 mo (4%/mo absorbed)
• Median asking: $389,000 ($149/sqft)
• Median days on market: 13 d
• This list price: 57% of active listings are priced below it
• ARV vs active asking: +14.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 22901

• Rents YoY: 2.8%
• Active inventory: 601
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,921 high
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$487 /mo · $5,850/yr
• Insurance: −$162
• HOA: −$228
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-616

Break-even live

Break-even rent $3,700

Max offer price $300,910

Occupancy floor —

Sensitivity live

Price	-10% $-346	-5% $-481	+0% $-616	+5% $-750	+10% $-885
Rent	-10% $-846	-5% $-731	+0% $-616	+5% $-500	+10% $-385
Rate	-1.0pp $-419	-0.5pp $-516	base $-616	+0.5pp $-717	+1.0pp $-819

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: $97,498
• Closing costs: $11,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
824 Wesley Ln Unit B Charlottesville, VA	3.0	2.5	2451	$3,200	$1.31	2d	1	0.81mi
308 Eastbrook Dr Charlottesville, VA	4.0	3.0	2560	$2,900	$1.13	6d	1	0.81mi
1664 Redington Ln Charlottesville, VA	4.0	2.5	2556	$3,250	$1.27	139d	1	1.15mi
1236 Raintree Dr Charlottesville, VA	4.0	4.0	2524	$3,595	$1.42	139d	1	1.17mi
1600 Old Brook Rd Charlottesville, VA	4.0	3.5	3108	$3,595	$1.16	139d	1	1.18mi
4012 Talen Ln Charlottesville, VA	3.0	2.5	2300	$2,695	$1.17	5d	1	1.39mi

Property features AI

Finance

• Other: Address: 1B Perseus Ln, Charlottesville, VADirections available for model home location
• HOA & community: Homeowners association with monthly feeMonthly association fee covers common area maintenance, playground, sewer, snow removal, trash, and waterCommunity playground

Exterior

• Parking: Attached garage (1 space)Asphalt drivewayGarage with electricity and garage door openerOff-street parking
• Security: Carbon monoxide detector(s)Deadbolt(s)Smoke detector(s)
• Utilities: Public waterPublic sewerUnderground electricCable availableFiber optic available
• Home design: CondominiumTwo levelsNew constructionModel: Picasso
• Construction: Poured foundationHardiPlank, stick built, and stone exterior materialsComposition shingle roof
• Exterior features: Covered patioCleared lotDead end locationOpen lotSidewalks

Interior

• Kitchen: Convection ovenDishwasherMicrowaveRefrigeratorKitchen island
• Bedrooms: Primary bedroom on the second level
• Flooring: Luxury vinyl plankFinished above-grade living area
• Bathrooms: Two full bathroomsOne half bathroomOne main-level bathroom
• Heating & cooling: Central heating (electric, forced air)Central air conditioning
• Interior features: Walk-in closet(s)Breakfast areaKitchen islandRecessed lighting
• Laundry & utility: WasherDryer

Listing history 31 events

1. 2026-08-25
   days on market $389,990 Active 35 DOM
2. 2026-08-24
   days on market $389,990 Active 34 DOM
3. 2026-08-23
   days on market $389,990 Active 33 DOM
4. 2026-08-22
   days on market $389,990 Active 32 DOM
5. 2026-08-21
   days on market $389,990 Active 31 DOM
6. 2026-08-20
   days on market $389,990 Active 30 DOM
7. 2026-08-19
   days on market $389,990 Active 29 DOM
8. 2026-08-18
   days on market $389,990 Active 28 DOM
9. 2026-08-17
   days on market $389,990 Active 27 DOM
10. 2026-08-16
    days on market $389,990 Active 26 DOM
11. 2026-08-15
    days on market $389,990 Active 25 DOM
12. 2026-08-14
    days on market $389,990 Active 24 DOM
13. 2026-08-13
    days on market $389,990 Active 23 DOM
14. 2026-08-12
    days on market $389,990 Active 22 DOM
15. 2026-08-11
    days on market $389,990 Active 21 DOM
16. 2026-08-10
    days on market $389,990 Active 20 DOM
17. 2026-08-09
    days on market $389,990 Active 19 DOM
18. 2026-08-08
    days on market $389,990 Active 18 DOM
19. 2026-08-07
    days on market $389,990 Active 17 DOM
20. 2026-08-06
    days on market $389,990 Active 16 DOM
21. 2026-08-05
    days on market $389,990 Active 15 DOM
22. 2026-08-04
    days on market $389,990 Active 14 DOM
23. 2026-08-03
    days on market $389,990 Active 13 DOM
24. 2026-07-31
    days on market $389,990 Active 10 DOM
25. 2026-07-29
    days on market $389,990 Active 8 DOM
26. 2026-07-27
    days on market $389,990 Active 6 DOM
27. 2026-07-25
    days on market $389,990 Active 4 DOM
28. 2026-07-23
    days on market $389,990 Active 2 DOM
29. 2026-07-22
    remarks 693-char remark
30. 2026-07-22
    pricedays on marketlisting id $389,990 Active 1 DOM
31. 2026-05-21
    listed $384,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $35,051
• − Mortgage interest: −$21,846
• − Property taxes: −$5,850
• − Insurance: −$1,950
• − Repairs & maintenance: −$2,804
• − Management: −$2,804
• − HOA: −$2,736
• − Depreciation: −$11,345
• Taxable loss: −$14,284
• Est. tax savings @ 24.0%: +$3,428
• After-tax cash flow: $-3,959/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.

Condition & rehab AI · 3 photos

Excellent 95/100 None rehab

This fully completed and move-in-ready condo is in excellent condition with modern finishes and ample space, making it an ideal investment opportunity.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping the front yard — A well-maintained front yard improves curb appeal and adds value. ↑
• Resale Upgrading the flooring in the bathrooms — Modern flooring in bathrooms enhances the overall aesthetic and appeal for potential buyers. ↑

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary Agnor-Hurt Elementary D- VA #794/1,108 Nat'l #14,504/41,679 Middle Jackson P. Burley Middle A- VA #120/342 Nat'l #1,236/14,009 High Albemarle High A- VA #83/319 Nat'l #1,334/17,239

Schools (NCES district)

• District: Albemarle County Public School District
• NCES district ID: 5100090
• Math proficiency: 66% ▼ -16.00%
• Reading proficiency: 77% ▼ -2.00%
• Median HH income: $67,851
• Composite: 62.28/100
• National rank: #698
• State rank: #14 of 131 in VA

A Composite livability gradescore 84/100

Livability — Charlottesville

• Score: 84/100
• State rank: #27
• US rank: #707

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Albemarle County · 119,403 people
• City population: 120,202
• Metro: Charlottesville, VA
• Population (ZIP): 37,237
• Household income: $92,145
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 10% of renters

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Population outlook (Albemarle County) Hauer SSP2

• Today (2025): 119,403 people
• By 2030: 125,829 · +5.4%
• By 2040: 137,705 · +15.3%
• By 2050: 148,058 · +24.0%
• By 2075: 172,223 · +44.2%
• By 2100: 185,628 · +55.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 9% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 2% Other Asian/Pacific 1%

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Political lean MEDSL · Albemarle

• 2024 margin: Solid D (+34.1) · D 66.3% · R 32.2% · Other 1.4%
• 2008→2024 swing: +16.1pp toward D · 2008: 18.0pp · 2024: 34.1pp
• All cycles: 2024: D+34.1 2020: D+33.5 2016: D+25.1 2012: D+12.0 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -341.65%
• Current HPI: 279.3342
• Rent YoY: ▲ 2.82%
• Metro: Charlottesville, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

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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

Property features AI

Finance

• Other: Address: 1B Perseus Ln, Charlottesville, VADirections available for model home location
• HOA & community: Homeowners association with monthly feeMonthly association fee covers common area maintenance, playground, sewer, snow removal, trash, and waterCommunity playground

Exterior

• Parking: Attached garage (1 space)Asphalt drivewayGarage with electricity and garage door openerOff-street parking
• Security: Carbon monoxide detector(s)Deadbolt(s)Smoke detector(s)
• Utilities: Public waterPublic sewerUnderground electricCable availableFiber optic available
• Home design: CondominiumTwo levelsNew constructionModel: Picasso
• Construction: Poured foundationHardiPlank, stick built, and stone exterior materialsComposition shingle roof
• Exterior features: Covered patioCleared lotDead end locationOpen lotSidewalks

Interior

• Kitchen: Convection ovenDishwasherMicrowaveRefrigeratorKitchen island
• Bedrooms: Primary bedroom on the second level
• Flooring: Luxury vinyl plankFinished above-grade living area
• Bathrooms: Two full bathroomsOne half bathroomOne main-level bathroom
• Heating & cooling: Central heating (electric, forced air)Central air conditioning
• Interior features: Walk-in closet(s)Breakfast areaKitchen islandRecessed lighting
• Laundry & utility: WasherDryer

Price history

+1.6% since first listed

3 events — show timeline

• 2026-07-21 Listed $389,990 CAAR
• 2026-05-27 Listing Removed — CAAR
• 2026-05-21 Listed $384,000 CAAR