Roosevelt Plan · Captains Cove, VA 23356

$372,990

4 bd · 2.5 ba · 2,551 sqft · SingleFamily · 424 Days on market

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Why this score? — see what drove the F 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 +7.5/15.0
• Appreciation +5.6/10.0
• Schools +4.3/10.0
• Cash flow +3.5/30.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

As you walk into the beautiful Roosevelt you are greeted by a large, welcoming foyer with an open formal living room and dining room to either side. The formal living room can be optionally converted to a private study, perfect for use as a home office. The hallway flows to the rear of the home where you are met with an open floorplan of the kitchen, informal breakfast area, and an extensive Great Room. The Kitchen is spacious, allowing ease of mobility and allowing for it to be a comfortable gathering place. An optional island in the heart of the cooking space; enhances the kitchen's storage and counter space. The first floor also features a powder room at the two-car garage entry and a hallway closet. Add even more comfort to the first-level spaces with optional add-ons like a gas fireplace in the Great Room or expand the kitchen area by adding an optional Sunroom. The second floor includes the Owner's Suite, three additional bedrooms, a full bath, and a spacious laundry room. As you move through, The Owner's Suite is accessed by double doors to an open and expansive Owner's Bedroom. The Owner's Suite features two walk-in closets and an Owner's Bath. An additional Owner's Bath option includes a Super Bath, with the added pleasure of a large soaking tub or the Venetian-style or Roman-style bath, which both feature large showers. This home design offers the option of extensions and an alternate second floor that features a sitting room attached to the Owner's Suite. Other

Key facts

• Open floorplan
• Extensive great room
• Private study

Tags

• LARGE WELCOMING FOYER
• OPEN FORMAL LIVING ROOM
• PRIVATE STUDY
• OPEN FLOORPLAN
• EXTENSIVE GREAT ROOM
• OPTIONAL ISLAND

🏗️ New construction. The $372,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $485,202.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $373k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $274k (26.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (35.7% below list).
• Recommended offer: $240k (35.7% below list) — sets the bar for 1% rule.
• Cap rate 2.7% vs local median 3.5% in Captains Cove — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 63/100 on livability (#371 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A-, housing A-; Watch: schools F, amenities F, commute F.
• Accomack County Public School District (rural): math 44% / reading 59% proficiency, ranked #99 of 131 in VA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 309 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 181 units permitted in Accomack County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($3k loan paydown + $6k appreciation (1.2% local appreciation)).
• Accomack County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 424 days — a 12% lower offer ($328k) is reasonable based on typical stale-listing flexibility.

Recommended offer $240,000 (35.7% 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 424 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.49% ✗
• Cap rate: 2.69%
• Cash-on-cash: -12.87%
• DSCR: 0.43
• GRM: 16.8

CMA / ARV

• ARV (median comp): $485,202
• List price: $372,990
• Delta: -23.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3359 Anchor Ct	0.28mi	4/2.5	2,596 (+2%)	3mo	$676,000	$260	82
3175 Port Ct	0.24mi	3/2.5 (-1)	2,440 (-4%)	5mo	$250,000	$102	72
37146 Shark Ct	0.10mi	3/2.5 (-1)	2,295 (-10%)	7mo	$454,975	$198	68
3312 Navigator Dr	0.55mi	4/2.5	2,550 (-0%)	9mo	$412,762	$162	66
2498 Dry Dock Ct	0.61mi	4/3.0	2,570 (+1%)	5mo	$408,781	$159	64
3464 Navigator Dr	0.30mi	3/2.5 (-1)	2,369 (-7%)	15mo	$467,930	$198	56
37369 Keel Ct	0.40mi	4/3.0	2,304 (-10%)	11mo	$730,000	$317	54
3047 Dinghy Ct	0.61mi	4/2.5	2,314 (-9%)	2mo	$412,000	$178	54
3094 Meridian Dr	0.36mi	3/2.0 (-1)	2,349 (-8%)	18mo	$275,000	$117	48
37406 Bayside Dr	0.52mi	4/4.0	2,700 (+6%)	19mo	$735,000	$272	44
3207 Amidship Dr	0.60mi	4/2.5	2,217 (-13%)	12mo	$386,029	$174	41
3374 Navigator Dr	0.45mi	3/2.0 (-1)	2,230 (-13%)	17mo	$294,000	$132	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.43×
• Total profit: $-78,094
• Equity at exit: $171,598

10-year hold

• IRR: -5.2%
• Equity multiple: 0.34×
• Total profit: $-89,278
• Equity at exit: $232,718

Cash invested: $135,857 (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 23356

• Home prices YoY: 0.7%
• Active inventory: 309
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$2,544
• Tax est. 1.5%: −$607 /mo · $7,278/yr
• Insurance: −$202
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $-1,457

Break-even live

Break-even rent $4,244

Max offer price $274,354

Occupancy floor —

Sensitivity live

Price	-10% $-1,122	-5% $-1,289	+0% $-1,457	+5% $-1,625	+10% $-1,792
Rent	-10% $-1,647	-5% $-1,552	+0% $-1,457	+5% $-1,362	+10% $-1,268
Rate	-1.0pp $-1,213	-0.5pp $-1,334	base $-1,457	+0.5pp $-1,583	+1.0pp $-1,711

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: $121,300
• Closing costs: $14,556
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4155 Captains Corridor Greenbackville, VA	3.0	2.5	2380	$2,400	$1.01	14d	1	1.30mi

Listing history 17 events

1. 2026-06-21
   days on market $372,990 Active 424 DOM
2. 2026-06-18
   days on market $372,990 Active 422 DOM
3. 2026-06-17
   days on market $372,990 Active 421 DOM
4. 2026-06-16
   days on market $372,990 Active 420 DOM
5. 2026-06-15
   days on market $372,990 Active 419 DOM
6. 2026-06-15
   days on market $372,990 Active 418 DOM
7. 2026-06-13
   days on market $372,990 Active 417 DOM
8. 2026-06-12
   days on market $372,990 Active 416 DOM
9. 2026-06-09
   days on market $372,990 Active 413 DOM
10. 2026-06-08
    days on market $372,990 Active 412 DOM
11. 2026-06-08
    days on market $372,990 Active 411 DOM
12. 2026-06-07
    days on market $372,990 Active 410 DOM
13. 2026-06-03
    days on market $372,990 Active 407 DOM
14. 2026-06-02
    days on market $372,990 Active 406 DOM
15. 2026-06-01
    days on market $372,990 Active 405 DOM
16. 2026-05-31
    days on market $372,990 Active 404 DOM
17. 2025-04-22
    listed $372,990 Active 1496-char remark

    Show marketing remark (1496 chars)

    As you walk into the beautiful Roosevelt you are greeted by a large, welcoming foyer with an open formal living room and dining room to either side. The formal living room can be optionally converted to a private study, perfect for use as a home office. The hallway flows to the rear of the home where you are met with an open floorplan of the kitchen, informal breakfast area, and an extensive Great Room. The Kitchen is spacious, allowing ease of mobility and allowing for it to be a comfortable gathering place. An optional island in the heart of the cooking space; enhances the kitchen's storage and counter space. The first floor also features a powder room at the two-car garage entry and a hallway closet. Add even more comfort to the first-level spaces with optional add-ons like a gas fireplace in the Great Room or expand the kitchen area by adding an optional Sunroom. The second floor includes the Owner's Suite, three additional bedrooms, a full bath, and a spacious laundry room. As you move through, The Owner's Suite is accessed by double doors to an open and expansive Owner's Bedroom. The Owner's Suite features two walk-in closets and an Owner's Bath. An additional Owner's Bath option includes a Super Bath, with the added pleasure of a large soaking tub or the Venetian-style or Roman-style bath, which both feature large showers. This home design offers the option of extensions and an alternate second floor that features a sitting room attached to the Owner's Suite. Other

ⓘ 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: $28,800
• − Mortgage interest: −$27,179
• − Property taxes: −$7,278
• − Insurance: −$2,426
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$14,115
• Taxable loss: −$26,806
• Est. tax savings @ 24.0%: +$6,433
• After-tax cash flow: $-11,052/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: Accomack County Public School District
• NCES district ID: 5100060
• Math proficiency: 44% ▼ -36.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $40,348
• Composite: 43.05/100
• National rank: #3096
• State rank: #99 of 131 in VA

Livability — Captains Cove

• Score: 63/100
• State rank: #371
• US rank: #14910

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Captains Cove, VA
• Population (ZIP): 1,738

Population outlook (Accomack County) Hauer SSP2

• Today (2025): 32,072 people
• By 2030: 31,425 · -2.0%
• By 2040: 29,685 · -7.4%
• By 2050: 27,748 · -13.5%
• By 2075: 23,396 · -27.1%
• By 2100: 18,774 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 9% Slovak 6% Subsaharan African 2%
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Accomack

• 2024 margin: R (+13.3) · D 43.0% · R 56.3%
• 2008→2024 swing: -11.9pp toward R · 2008: -1.4pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+9.4 2016: R+11.7 2012: R+3.5 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.24%
• Current HPI: 191.9035
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2025-04-22 Listed $372,990 Zillow