1922 Candlelight Dr · Chesapeake, VA 23325

$280,000

3 bd · 3.0 ba · 1,377 sqft · Townhouse public records · 19 Days on market

Built 1986 2,613 sqft lot Est $297k · 6% under

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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).

• Cash flow +11.9/30.0
• ARV discount +10.1/15.0
• Schools +5.8/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your dream home located in the highly sought-after Georgetown section of Chesapeake, one of the most desirable cities in the Hampton Roads area! This charming 3 bedroom, 2.5 bathroom townhouse is suitable for anyone looking to start or restart their family journey. As you step inside, you are greeted by a warm and inviting living room, highlighted by a beautiful brick fireplace that is sure to capture your attention and provide a cozy atmosphere. The thoughtful updates throughout this home include newer stainless-steel appliances in the kitchen! New HVAC installed 2026, Flooring less than 1yr old. (LVP on the 1st floor is an absolute MUST SEE). No HOA fees which allow you the fre

Key facts

• Georgetown section
• Brick fireplace
• Nice-sized backyard

Tags

• GEORGETOWN SECTION
• BRICK FIREPLACE
• NEW HVAC
• NICE-SIZED BACKYARD
• NO HOA FEES
• MOVE-IN-READY

Property features AI

Finance

• HOA & community: No HOA fees (N/A / zero reported)

Exterior

• Parking: Off-street parking; Driveway spaces (2 total spaces)
• Security: Security system
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Attached townhouse; Two stories (2 living levels); Slab foundation
• Construction: Brick and vinyl siding; Asphalt shingle roof
• Exterior features: Patio; Back, full wood fence

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Electric range; Refrigerator; Pantry; Breakfast area
• Bedrooms: One bedroom with ensuite; No bedroom and full bathroom on first floor
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump (provides heating and cooling); Forced hot air; Electric heating; Central air
• Interior features: Cable hookup; Ceiling fan; Security system; Electric fireplace; Scuttle access; Walk-in closet; Window treatments; One fireplace
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $280k.

Deal economics

• At list price, monthly cash flow is $-72 ($-861/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (21.4% below list).
• Recommended offer: $220k (21.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.7% 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: 62 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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.
• Current owner paid $239k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $219,957 (21.4% 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. 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. 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?
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: 0.79% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.10%
• DSCR: 0.95
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $297,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1922 Candlelight Dr	0.00mi	3/2.5	1,377 (0%)	1mo	$290,000	$211	97
2011 Candlelight Dr	0.09mi	3/2.5	1,400 (+2%)	2mo	$310,000	$221	90
2021 Candlelight Dr	0.11mi	3/2.5	1,421 (+3%)	3mo	$280,000	$197	85
2034 Allison Dr	0.11mi	3/2.5	1,451 (+5%)	6mo	$250,000	$172	79
2053 Allison Dr	0.16mi	2/2.5 (-1)	1,446 (+5%)	8mo	$239,900	$166	71
1831 Hearthside Ct	0.05mi	3/1.5	1,218 (-12%)	6mo	$268,000	$220	67
2827 Estella Way	0.46mi	3/2.5	1,478 (+7%)	2mo	$325,000	$220	62
63 Colonial Way	0.31mi	3/1.5	1,221 (-11%)	1mo	$180,000	$147	60
69 Colonial Way	0.32mi	3/1.5	1,212 (-12%)	2mo	$279,900	$231	57
25 King George Quay	0.41mi	2/2.5 (-1)	1,252 (-9%)	8mo	$271,000	$216	52
66 King George Quay	0.51mi	2/2.5 (-1)	1,251 (-9%)	4mo	$280,000	$224	51
2223 Holly Berry Ln	0.48mi	3/2.5	1,535 (+12%)	8mo	$329,000	$214	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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-49,986
• Equity at exit: $41,749

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-49,589
• Equity at exit: $24,209

Cash invested: $78,400 (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: 62
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,200 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$224 /mo · $2,693/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $-72

Break-even live

Break-even rent $2,290

Max offer price $267,326

Occupancy floor 98%

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1947 Candlelight Dr Chesapeake, VA	3.0	2.5	1417	$2,000	$1.41	20d	1	0.06mi
67 King George Quay Chesapeake, VA	3.0	1.5	1298	$1,900	$1.46	4d	1	0.52mi
3000 Waverton Pkwy Chesapeake, VA	2.0–3.0	1.0–2.0	1037	$1,510	$1.46	23d	1	0.71mi
1212 Triple Crown Cir Chesapeake, VA	1.0–2.0	1.0–2.0	965	$2,180	$2.26	2d	24	0.84mi
2540 Holly Point Blvd Chesapeake, VA	1.0–3.0	1.0–2.0	1250	$2,680	$2.14	1d	20	0.98mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	2d	1	1.05mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	23d	1	1.05mi
103 Duffield Pl Chesapeake, VA	3.0	2.0	1372	$2,200	$1.60	23d	1	1.30mi
929 Wintercress Way Chesapeake, VA	3.0	1.0–2.0	898	$2,742	$3.05	4d	17	1.36mi
150 Coveside Ln Chesapeake, VA	1.0–3.0	1.0–2.0	1120	$2,779	$2.48	2d	29	1.47mi
2620 Sunrise Ave Chesapeake, VA	3.0	1.5	1462	$1,850	$1.27	23d	1	1.48mi
2001 Angora Dr Chesapeake, VA	4.0	2.0	1539	$2,850	$1.85	16d	1	1.49mi

Listing history 22 events

1. 2026-05-11
   status Under Contract
2. 2026-05-06
   historical Active Under Contract
3. 2026-05-04
   status Active
4. 2026-04-27
   historical Active Under Contract
5. 2026-04-22
   listed $280,000 Active
6. 2022-10-03
   soldstatus $239,000
7. 2022-09-09
   status Under Contract
8. 2022-09-01
   historical Active Under Contract
9. 2022-08-30
   listed $235,000 Active
10. 2017-05-01
    soldstatus $158,000
11. 2017-03-20
    status Under Contract
12. 2017-02-03
    listed $159,000 Active
13. 2017-01-13
    historical
14. 2016-09-26
    price $159,000
15. 2016-08-24
    price $161,000
16. 2016-08-24
    price $159,900
17. 2016-08-24
    listed $19,900 Active
18. 2011-11-21
    soldstatus $141,000
19. 2011-09-27
    soldstatus $70,000
20. 2002-11-19
    soldstatus $80,000
21. 1999-02-01
    soldstatus $73,900
22. 1995-10-31
    soldstatus $72,200

ⓘ 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: $2,693 · $224/mo
• Projected year-2 tax: $2,693 · $224/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: $26,395
• − Mortgage interest: −$15,684
• − Property taxes: −$2,693
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$8,145
• Taxable loss: −$5,751
• Est. tax savings @ 24.0%: +$1,380
• After-tax cash flow: $519/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

+287.8% since first listed

22 events — show timeline

• 2026-05-11 Pending — REINMLS
• 2026-05-06 Contingent — REINMLS
• 2026-05-04 Relisted — REINMLS
• 2026-04-27 Contingent — REINMLS
• 2026-04-22 Listed $280,000 REINMLS
• 2022-10-03 Sold (Public Records) $239,000 Public Records
• 2022-09-09 Pending — REINMLS
• 2022-09-01 Contingent — REINMLS
• 2022-08-30 Listed $235,000 REINMLS
• 2017-05-01 Sold (Public Records) $158,000 Public Records
• 2017-03-20 Pending — REINMLS
• 2017-02-03 Listed $159,000 REINMLS
• 2017-01-13 Listing Removed — REINMLS
• 2016-09-26 Price Changed $159,000 REINMLS
• 2016-08-24 Price Changed $161,000 REINMLS
• 2016-08-24 Price Changed $159,900 REINMLS
• 2016-08-24 Listed $19,900 REINMLS
• 2011-11-21 Sold (Public Records) $141,000 Public Records
• 2011-09-27 Sold (Public Records) $70,000 Public Records
• 2002-11-19 Sold (Public Records) $80,000 Public Records
• 1999-02-01 Sold (Public Records) $73,900 Public Records
• 1995-10-31 Sold (Public Records) $72,200 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,693 · +6.3% YoY. Source: county tax records.