424 Nottingham Dr · Colonial Heights, VA 23834

$235,000

3 bd · 2.0 ba · 1,646 sqft · SingleFamily public records · 3 Days on market

Built 1974 0.26 ac lot Est $309k · 24% 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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• DSCR +3.8/10.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful, newly renovated rancher is calling you HOME!! This home boasts 3 bedrooms, 2 full baths, with 1,646 sq ft of living space! The interior includes an open floor plan with a formal dining room overflowing to the beautiful kitchen featuring BRAND NEW EVERYTHING including ceramic tile flooring, crown molding, cabinets, island, stainless steel appliances, granite counter tops, light fixtures, and more! The spacious family room is super cozy with new tile wood flooring, new glass sliding doors overlooking the large backyard, built in bookshelves, and we cannot forget about the beautiful brick fireplace! This home has been freshly painted, has new light fixtures throughout, new flooring throughout, new privacy fence in the backyard, brand new luxury tile in both of the bathroom walls and floors - the list goes on! The master bedroom features TWO closets with an attached walk-in luxury tiled shower. The backyard has a concrete patio area with overlay, an entertainment area with a fire pit, and a brand new privacy fence. This home has it all - Do not wait to see this one!!

Key facts

• Ranch style home
• Fenced in back yard
• Patio

Tags

• RANCH STYLE HOME
• FENCED IN BACK YARD
• PATIO

Property features AI

Exterior

• Parking: Driveway parking; Off-street parking; Paved parking; On-street parking
• Utilities: Public water; Public sewer; Electric power
• Home design: Single-story home; Resale property
• Construction: Shingle roof; Frame construction with hardboard and wood siding; Built as actual year (year built details provided)
• Exterior features: Paved driveway; Back yard fencing; Fenced yard; Lot dimensions approximately 89 x 130

Interior

• Kitchen: Kitchen island
• Bedrooms: Bedrooms include a main-level bedroom
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: Two full bathrooms; One half bathroom; One full bath with tub & shower
• Heating & cooling: Heat pump heating (electric); Central air conditioning
• Interior features: Main-level primary bedroom; Bedroom on main level; Kitchen island; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-21 ($-249/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (17.3% below list).
• Recommended offer: $194k (17.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.2% in Colonial Heights — 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 74/100 on livability (#146 in VA, #4,726 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D, crime F.
• Colonial Heights City Public School District (suburban): math 52% / reading 64% proficiency, ranked #67 of 131 in VA (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lakeview Elementary (math 37% / reading 47%, grade F, #866 of 1,108 statewide, top 80%, 415 students, 87% FRL); Colonial Heights Middle (math 49% / reading 64%, grade B, #184 of 342 statewide, top 54%, 598 students, 86% FRL); Colonial Heights High (math 82% / reading 77%, grade A-, #63 of 319 statewide, top 22%, 876 students, 85% FRL) — zoned schools average 86% FRL vs 37% district-wide (49 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.5%/yr); 126 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 17 units permitted in Colonial Heights city in 2024 (0 in 5+ unit buildings).

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.
• Colonial Heights County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $183k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 40% 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 $194,389 (17.3% 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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $309,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
904 Forestview Dr	0.46mi	3/1.5	1,626 (-1%)	2mo	$345,000	$212	73
116 Homestead Dr	0.53mi	3/1.5	1,686 (+2%)	1mo	$310,000	$184	69
3605 Whitehouse Rd	0.53mi	3/2.5	1,674 (+2%)	4mo	$340,000	$203	67
200 Hargrave Ave	0.61mi	3/2.0	1,580 (-4%)	6mo	$275,000	$174	60
202 Homestead Dr	0.50mi	3/1.5	1,475 (-10%)	1mo	$307,450	$208	56
112 Sherwood Dr	0.32mi	4/2.0 (+1)	1,834 (+11%)	7mo	$345,000	$188	56
309 Norwood Dr	0.34mi	3/2.0	1,849 (+12%)	11mo	$317,000	$171	54
200 Moore Ave	0.67mi	4/2.0 (+1)	1,476 (-10%)	2mo	$275,000	$186	45
2702 Amherst Ridge Loop	0.74mi	3/2.5	1,484 (-10%)	4mo	$338,000	$228	44
104 Moore Ave	0.61mi	4/2.0 (+1)	1,504 (-9%)	11mo	$250,000	$166	43
102 Hargrave Ave	0.54mi	2/2.0 (-1)	1,455 (-12%)	10mo	$278,000	$191	42
4005 Somerlane Cir	0.72mi	3/3.0	1,885 (+14%)	2mo	$344,950	$183	36

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 · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.54×
• Total profit: $-30,211
• Equity at exit: $35,039

10-year hold

• IRR: 2.4%
• Equity multiple: 1.20×
• Total profit: $13,380
• Equity at exit: $20,319

Cash invested: $65,800 (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 23834

• Rents YoY: 7.5%
• Active inventory: 126
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,944 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$226 /mo · $2,713/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-21

Break-even live

Break-even rent $1,970

Max offer price $231,342

Occupancy floor 96%

Sensitivity live

Price	-10% $112	-5% $46	+0% $-21	+5% $-87	+10% $-154
Rent	-10% $-174	-5% $-97	+0% $-21	+5% $56	+10% $133
Rate	-1.0pp $98	-0.5pp $39	base $-21	+0.5pp $-82	+1.0pp $-144

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Lakeview Park Rd #141 Colonial Heights, VA	1.0–3.0	1.0–1.5	870	$1,825	$2.10	3d	1	0.98mi
16208 Pauline Ave Chester, VA	4.0	2.0	1496	$2,195	$1.47	45d	1	0.99mi
104 Brijidan Ln Colonial Heights, VA	3.0	2.0	1355	$2,241	$1.65	12d	1	1.02mi
103 Sadler Ave Colonial Heights, VA	3.0	1.0	1230	$1,800	$1.46	13d	1	1.04mi
925 Lakeview Ave Unit C Colonial Heights, VA	2.0	1.5	1080	$1,495	$1.38	45d	1	1.06mi
919 Lakeview Ave Apt Q Colonial Heights, VA	2.0	1.5	1250	$1,895	$1.52	12d	1	1.07mi
4019 Frye Ter South Chesterfield, VA	3.0	2.5	1816	$2,300	$1.27	16d	1	1.37mi

Listing history 11 events

1. 2026-05-22
   status Pending
2. 2026-05-17
   listed $235,000 Active
3. 2018-02-14
   soldstatus $183,000 Closed 1095-char remark

   Show marketing remark (1095 chars)

   This beautiful, newly renovated rancher is calling you HOME!! This home boasts 3 bedrooms, 2 full baths, with 1,646 sq ft of living space! The interior includes an open floor plan with a formal dining room overflowing to the beautiful kitchen featuring BRAND NEW EVERYTHING including ceramic tile flooring, crown molding, cabinets, island, stainless steel appliances, granite counter tops, light fixtures, and more! The spacious family room is super cozy with new tile wood flooring, new glass sliding doors overlooking the large backyard, built in bookshelves, and we cannot forget about the beautiful brick fireplace! This home has been freshly painted, has new light fixtures throughout, new flooring throughout, new privacy fence in the backyard, brand new luxury tile in both of the bathroom walls and floors - the list goes on! The master bedroom features TWO closets with an attached walk-in luxury tiled shower. The backyard has a concrete patio area with overlay, an entertainment area with a fire pit, and a brand new privacy fence. This home has it all - Do not wait to see this one!!

4. 2018-02-14
   soldstatus $183,000

   Show marketing remark (1095 chars)

   This beautiful, newly renovated rancher is calling you HOME!! This home boasts 3 bedrooms, 2 full baths, with 1,646 sq ft of living space! The interior includes an open floor plan with a formal dining room overflowing to the beautiful kitchen featuring BRAND NEW EVERYTHING including ceramic tile flooring, crown molding, cabinets, island, stainless steel appliances, granite counter tops, light fixtures, and more! The spacious family room is super cozy with new tile wood flooring, new glass sliding doors overlooking the large backyard, built in bookshelves, and we cannot forget about the beautiful brick fireplace! This home has been freshly painted, has new light fixtures throughout, new flooring throughout, new privacy fence in the backyard, brand new luxury tile in both of the bathroom walls and floors - the list goes on! The master bedroom features TWO closets with an attached walk-in luxury tiled shower. The backyard has a concrete patio area with overlay, an entertainment area with a fire pit, and a brand new privacy fence. This home has it all - Do not wait to see this one!!

5. 2018-01-18
   status Pending 1095-char remark

   Show marketing remark (1095 chars)

   This beautiful, newly renovated rancher is calling you HOME!! This home boasts 3 bedrooms, 2 full baths, with 1,646 sq ft of living space! The interior includes an open floor plan with a formal dining room overflowing to the beautiful kitchen featuring BRAND NEW EVERYTHING including ceramic tile flooring, crown molding, cabinets, island, stainless steel appliances, granite counter tops, light fixtures, and more! The spacious family room is super cozy with new tile wood flooring, new glass sliding doors overlooking the large backyard, built in bookshelves, and we cannot forget about the beautiful brick fireplace! This home has been freshly painted, has new light fixtures throughout, new flooring throughout, new privacy fence in the backyard, brand new luxury tile in both of the bathroom walls and floors - the list goes on! The master bedroom features TWO closets with an attached walk-in luxury tiled shower. The backyard has a concrete patio area with overlay, an entertainment area with a fire pit, and a brand new privacy fence. This home has it all - Do not wait to see this one!!

6. 2018-01-15
   listed $179,900 Active 1095-char remark

   Show marketing remark (1095 chars)

   This beautiful, newly renovated rancher is calling you HOME!! This home boasts 3 bedrooms, 2 full baths, with 1,646 sq ft of living space! The interior includes an open floor plan with a formal dining room overflowing to the beautiful kitchen featuring BRAND NEW EVERYTHING including ceramic tile flooring, crown molding, cabinets, island, stainless steel appliances, granite counter tops, light fixtures, and more! The spacious family room is super cozy with new tile wood flooring, new glass sliding doors overlooking the large backyard, built in bookshelves, and we cannot forget about the beautiful brick fireplace! This home has been freshly painted, has new light fixtures throughout, new flooring throughout, new privacy fence in the backyard, brand new luxury tile in both of the bathroom walls and floors - the list goes on! The master bedroom features TWO closets with an attached walk-in luxury tiled shower. The backyard has a concrete patio area with overlay, an entertainment area with a fire pit, and a brand new privacy fence. This home has it all - Do not wait to see this one!!

7. 2014-08-12
   soldstatus $105,000 245-char remark

   Show marketing remark (245 chars)

   Amazing deal on a ranch home in desirable Sherwood Hills. 3 bed, 2 full baths, formal living room and a formal dining room. The great room is large with a fireplace and built in bookshelves. Heat pump is just a few years old. Needs a little TLC.

8. 2014-08-12
   soldstatus $105,000

   Show marketing remark (245 chars)

   Amazing deal on a ranch home in desirable Sherwood Hills. 3 bed, 2 full baths, formal living room and a formal dining room. The great room is large with a fireplace and built in bookshelves. Heat pump is just a few years old. Needs a little TLC.

9. 2014-05-14
   historical 245-char remark

   Show marketing remark (245 chars)

   Amazing deal on a ranch home in desirable Sherwood Hills. 3 bed, 2 full baths, formal living room and a formal dining room. The great room is large with a fireplace and built in bookshelves. Heat pump is just a few years old. Needs a little TLC.

10. 2014-05-13
    listed $110,000 245-char remark

    Show marketing remark (245 chars)

    Amazing deal on a ranch home in desirable Sherwood Hills. 3 bed, 2 full baths, formal living room and a formal dining room. The great room is large with a fireplace and built in bookshelves. Heat pump is just a few years old. Needs a little TLC.

11. 1979-03-05
    soldstatus $55,000

ⓘ 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: $2,713 · $226/mo
• Projected year-2 tax: $2,713 · $226/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,327
• − Mortgage interest: −$13,164
• − Property taxes: −$2,713
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − Depreciation: −$6,836
• Taxable loss: −$4,294
• Est. tax savings @ 24.0%: +$1,031
• After-tax cash flow: $782/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: Colonial Heights City Public School District
• NCES district ID: 5100960
• Math proficiency: 52% ▼ -31.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $50,368
• Composite: 49.41/100
• National rank: #2011
• State rank: #67 of 131 in VA

Livability — Colonial Heights

• Score: 74/100
• State rank: #146
• US rank: #4726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colonial Heights, VA
• County: Chesterfield County · 406,988 people
• City population: 26,628
• Metro: Richmond, VA
• Population (ZIP): 26,628
• Household income: $84,338
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 814.0

Population outlook (Colonial Heights County) Hauer SSP2

• Today (2025): 18,627 people
• By 2030: 19,110 · +2.6%
• By 2040: 20,215 · +8.5%
• By 2050: 21,424 · +15.0%
• By 2075: 24,692 · +32.6%
• By 2100: 26,164 · +40.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 22% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Korean 1%

Political lean MEDSL · Colonial Heights

• 2024 margin: Solid R (+32.5) · D 33.4% · R 65.8%
• 2008→2024 swing: +8.2pp toward D · 2008: -40.7pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+33.2 2016: R+39.3 2012: R+39.5 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -212.28%
• Current HPI: 294.4478
• Rent YoY: ▲ 7.50%
• 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

+327.3% since first listed

11 events — show timeline

• 2026-05-22 Pending — CVRMLS
• 2026-05-17 Listed $235,000 CVRMLS
• 2018-02-14 Sold (Public Records) $183,000 Public Records
• 2018-02-14 Sold (MLS) $183,000 CVRMLS
• 2018-01-18 Pending — CVRMLS
• 2018-01-15 Listed $179,900 CVRMLS
• 2014-08-12 Sold (Public Records) $105,000 Public Records
• 2014-08-12 Sold (MLS) $105,000 CVRMLS
• 2014-05-14 Listing Removed — CVRMLS
• 2014-05-13 Listed $110,000 CVRMLS
• 1979-03-05 Sold (Public Records) $55,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,713 · +0.0% YoY. Source: county tax records.