5949 Margate Ave · Virginia Beach, VA 23462

$242,000

3 bd · 1.5 ba · 1,260 sqft · Townhouse public records · 5 Days on market

Built 1978 Est $257k · 6% 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 +17.0/30.0
• ARV discount +10.1/15.0
• Schools +6.4/10.0
• DSCR +5.3/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well-maintained 2-story townhome offering 3 bedrooms, 1.5 bathrooms, and approximately 1,260 square feet of comfortable living space. Freshly painted throughout with recently professionally cleaned carpets, this home is move-in ready and full of charm. The kitchen features granite countertops, while the cozy fireplace creates the perfect focal point for the living area. Enjoy a generously sized backyard with low-maintenance wooden decking; great for relaxing or entertaining, plus an attached storage shed with a brand-new roof. Dedicated off-street parking adds everyday convenience. Centrally located near shopping, dining, interstate access, and local military bases, thi

Key facts

• Cozy fireplace
• Granite countertops
• 2 parking spots

Tags

• GRANITE COUNTERTOPS
• COZY FIREPLACE
• GENEROUSLY SIZED BACKYARD
• LOW-MAINTENANCE WOODEN DECKING
• ATTACHED STORAGE SHED
• DEDICATED OFF-STREET PARKING

Property features AI

Finance

• HOA & community: No HOA or no monthly POA/Condo fees reported

Exterior

• Parking: 2 off-street spaces; On-street parking available
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; 2 stories (2 living levels); Slab foundation; Simple ownership
• Construction: Asphalt shingle roof
• Exterior features: Brick and vinyl siding; Back yard with privacy wood fence

Interior

• Kitchen: Electric range; Microwave; Dishwasher
• Bedrooms: Master bedroom with ensuite (1 bedroom with ensuite)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning (heat pump)
• Interior features: Ceiling fan; Decorative wood fireplace; Dual-entry bath (accessible from bedroom and hall); Scuttle (attic) access; Walk-in closet
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer; Utility room; Utility closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $242k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/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 $217k (10.4% below list).
• Recommended offer: $217k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: Diamond Springs Elementary (484 students, 100% FRL); Bayside High (math 63% / reading 75%, grade B, #170 of 319 statewide, top 55%, 1,983 students, 65% FRL) — zoned schools average 83% FRL vs 28% district-wide (54 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.6%/yr); 220 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); 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).
• This rent runs 38% of the median local income ($69k/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 $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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 flood risk; 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 $216,819 (10.4% below list)

Questions for the listing agent

1. Built in 1978 — 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. 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: 7.10%
• Cash-on-cash: 2.89%
• DSCR: 1.13
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $257,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5944 Margate Ave	0.03mi	3/1.5	1,260 (0%)	2mo	$200,000	$159	97
5900 Blackpoole Ln	0.13mi	3/1.5	1,310 (+4%)	3mo	$257,500	$197	85
5984 Buckminister Ln	0.12mi	2/1.5 (-1)	1,215 (-4%)	2mo	$259,000	$213	82
5716 E Hastings Arch	0.36mi	3/1.5	1,200 (-5%)	2mo	$245,000	$204	73
621 Folkstone Way	0.11mi	2/1.5 (-1)	1,130 (-10%)	1mo	$245,000	$217	72
663 Baker Rd	0.39mi	4/1.5 (+1)	1,200 (-5%)	0mo	$254,900	$212	69
712 White Hall Ln	0.31mi	3/1.5	1,400 (+11%)	1mo	$259,000	$185	66
809 S Buckingham Ct	0.56mi	3/2.5	1,322 (+5%)	1mo	$270,000	$204	61
5676 Weblin Dr	0.58mi	3/2.5	1,322 (+5%)	1mo	$265,000	$200	60
634 Redkirk Ln	0.42mi	3/1.5	1,400 (+11%)	2mo	$230,000	$164	60
5661 Campus Dr	0.68mi	3/2.5	1,350 (+7%)	0mo	$283,500	$210	52
913 Jay Are Ct	0.75mi	2/2.5 (-1)	1,112 (-12%)	2mo	$249,900	$225	35

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 · 5.61% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.66×
• Total profit: $-23,036
• Equity at exit: $36,083

10-year hold

• IRR: 3.4%
• Equity multiple: 1.27×
• Total profit: $18,424
• Equity at exit: $20,924

Cash invested: $67,760 (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 23462

• Rents YoY: 5.6%
• Active inventory: 220
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$1,269
• Tax from tax record: −$180 /mo · $2,160/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $163

Break-even live

Break-even rent $1,962

Max offer price $242,000

Occupancy floor 87%

Sensitivity live

Price	-10% $300	-5% $231	+0% $163	+5% $94	+10% $26
Rent	-10% $-8	-5% $77	+0% $163	+5% $249	+10% $334
Rate	-1.0pp $285	-0.5pp $225	base $163	+0.5pp $100	+1.0pp $36

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: $60,500
• Closing costs: $7,260
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5964 Blackpoole Ln Virginia Beach, VA	3.0	1.5	1310	$2,100	$1.60	24d	1	0.06mi
620 Red Horse Ln Virginia Beach, VA	3.0	1.5	1396	$1,550	$1.11	20d	1	0.18mi
6333 Tuttle Ave Norfolk, VA	3.0	2.5	1800	$2,695	$1.50	4d	1	0.19mi
5775 W Hastings Arch Virginia Beach, VA	2.0	1.5	1200	$1,700	$1.42	44d	1	0.19mi
5831 E Hastings Arch Virginia Beach, VA	3.0	1.5	1200	$1,950	$1.62	24d	1	0.23mi
5781 Lake Edward Dr Virginia Beach, VA	2.0	1.0–1.5	1075	$1,478	$1.37	3d	15	0.25mi
712 White Hall Ln Virginia Beach, VA	3.0	1.5	1400	$2,200	$1.57	24d	1	0.33mi
813 S Grosvenor Ct Virginia Beach, VA	3.0	2.5	1476	$2,300	$1.56	5d	1	0.62mi
5684 Campus Dr Virginia Beach, VA	3.0	2.5	1356	$2,495	$1.84	5d	1	0.63mi
1060 Kempsville Rd Norfolk, VA	3.0	2.0	1425	$2,975	$2.09	12d	1	0.64mi
1060 Kempsville Rd Norfolk, VA	2.0	2.0	1218	$2,400	$1.97	24d	1	0.64mi
1060 Kempsville Rd Norfolk, VA	2.0	2.0	1149	$2,400	$2.09	20d	1	0.64mi
1060 Kempsville Rd Norfolk, VA	2.0	2.0	1070	$2,400	$2.24	45d	1	0.64mi
1060 Kempsville Rd Apt 10305 Norfolk, VA	2.0	2.0	975	$2,142	$2.20	8d	1	0.67mi
1060 Kempsville Rd Unit 00 09212 Norfolk, VA	2.0	2.0	1002	$2,370	$2.37	44d	1	0.67mi
1060 Kempsville Rd Unit 00 08107 Norfolk, VA	3.0	2.0	1383	$2,479	$1.79	13d	1	0.67mi
5545 Old Guard Cres Virginia Beach, VA	3.0	2.5	1581	$2,350	$1.49	22d	1	0.69mi
5632 Campus Dr Virginia Beach, VA	3.0	2.5	1581	$2,201	$1.39	5d	1	0.70mi
724 Hezekiah Little Dr Virginia Beach, VA	3.0	2.5	1748	$2,900	$1.66	2d	1	0.72mi
5619 Summit Arch Virginia Beach, VA	2.0	2.0	957	$1,650	$1.72	4d	1	0.73mi
5433 Campus Dr Virginia Beach, VA	2.0	2.0	1000	$1,700	$1.70	3d	1	0.73mi
6602 Stoney Point North Norfolk, VA	3.0	2.0	1562	$1,795	$1.15	44d	1	0.74mi
5500 Baccalaureate Dr Virginia Beach, VA	3.0	2.5	1400	$1,995	$1.43	15d	1	0.83mi
969 Turtle Pond Ln Virginia Beach, VA	2.0	2.5	1383	$2,150	$1.55	24d	1	0.85mi
5403 Scholarship Dr Virginia Beach, VA	3.0	2.5	1480	$2,100	$1.42	24d	1	0.87mi
6647 Ethan Allen Ln Norfolk, VA	2.0	1.5	1176	$1,750	$1.49	11d	1	0.87mi
5516 Seawall Ct Virginia Beach, VA	2.0–3.0	1.0–3.0	1125	$2,421	$2.15	2d	18	0.87mi
5500 Goose Pond Ln Virginia Beach, VA	2.0	2.0	1383	$2,450	$1.77	3d	1	0.88mi
6650 Stoney Point South Norfolk, VA	3.0	2.5	1562	$2,100	$1.34	44d	1	0.90mi
849 Gas Light Ln Virginia Beach, VA	2.0	2.0	1250	$1,900	$1.52	18d	1	0.95mi
944 Gas Light Ln Unit 1 Virginia Beach, VA	3.0	2.5	1690	$2,300	$1.36	17d	1	1.00mi
944 Gas Light Ln Virginia Beach, VA	3.0	2.5	1690	$2,300	$1.36	18d	1	1.00mi
6163 Kempsville Cir Norfolk, VA	1.0–3.0	1.0–2.0	1120	$3,008	$2.69	2d	12	1.01mi
616 Aubrey Dr Virginia Beach, VA	3.0	1.5	1266	$1,995	$1.58	24d	1	1.01mi
5517 Lynbrook Lndg Virginia Beach, VA	3.0	2.5	1360	$2,335	$1.72	24d	1	1.04mi
5416 Safe Harbour Way Virginia Beach, VA	3.0	2.5	1686	$2,500	$1.48	2d	1	1.11mi
700 Wolftrap Ln Virginia Beach, VA	2.0	2.5	1360	$1,795	$1.32	24d	1	1.12mi
700 Wolftrap Ln Virginia Beach, VA	2.0	3.0	1360	$1,795	$1.32	13d	1	1.12mi
700 Wolftrap Ln Virginia Beach, VA	2.0	2.5	1360	$1,795	$1.32	17d	1	1.12mi
5414 Catina Arch Virginia Beach, VA	1.0–4.0	1.0–1.5	866	$1,997	$2.31	3d	10	1.24mi

Listing history 14 events

1. 2026-05-13
   status Under Contract
2. 2026-05-08
   listed $242,000 Active
3. 2022-10-06
   soldstatus $219,500
4. 2022-09-15
   status Under Contract
5. 2022-09-06
   historical Active Under Contract
6. 2022-09-01
   listed $220,000 Active
7. 2015-01-09
   soldstatus $111,000
8. 2014-10-31
   price $109,900
9. 2014-10-09
   price $112,900
10. 2014-09-05
    price $114,900 Active
11. 2014-06-09
    soldstatus $55,000
12. 2014-05-20
    price $59,900 Active
13. 2006-06-02
    soldstatus $130,500
14. 2005-05-31
    soldstatus $108,000

ⓘ 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: $2,160 · $180/mo
• Projected year-2 tax: $2,160 · $180/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 6/10 Major FEMA zone X (unshaded) · 68% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,018
• − Mortgage interest: −$13,556
• − Property taxes: −$2,160
• − Insurance: −$1,210
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − Depreciation: −$7,040
• Taxable loss: −$2,111
• Est. tax savings @ 24.0%: +$507
• After-tax cash flow: $2,462/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): 66,151
• Household income: $69,040
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 3906.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 45% Black 32% Hispanic / Latino 12% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 2% Other Asian/Pacific 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: ▼ -269.19%
• Current HPI: 333.1908
• Rent YoY: ▲ 5.61%
• 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

+124.1% since first listed

14 events — show timeline

• 2026-05-13 Pending — REINMLS
• 2026-05-08 Listed $242,000 REINMLS
• 2022-10-06 Sold (Public Records) $219,500 Public Records
• 2022-09-15 Pending — REINMLS
• 2022-09-06 Contingent — REINMLS
• 2022-09-01 Listed $220,000 REINMLS
• 2015-01-09 Sold (Public Records) $111,000 Public Records
• 2014-10-31 Price Changed $109,900 REINMLS
• 2014-10-09 Price Changed $112,900 REINMLS
• 2014-09-05 Price Changed $114,900 REINMLS
• 2014-06-09 Sold (Public Records) $55,000 Public Records
• 2014-05-20 Price Changed $59,900 REINMLS
• 2006-06-02 Sold (Public Records) $130,500 Public Records
• 2005-05-31 Sold (Public Records) $108,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,160 · +5.4% YoY. Source: county tax records.