6454 Faulkner Dr · Meadowbrook, VA 23234

$422,000

4 bd · 2.5 ba · 2,382 sqft · SingleFamily public records · 76 Days on market

Built 2021 0.27 ac lot $177/sqft · 15% below area Est $498k · 15% under $60/mo HOA · 2% 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 +14.4/15.0
• Cash flow +7.3/30.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out 6454 Faulkner Dr, recently updated with fresh interior paint throughout. The kitchen includes a functional island, an accent backsplash, and stainless steel appliances. The primary bathroom has double sinks for daily utility. A deck connects to a fenced in backyard, establishing a defined outdoor space. This residence provides a practical and updated living environment.

Key facts

• Double sinks
• Fenced in backyard
• Functional island

Tags

• FUNCTIONAL ISLAND
• ACCENT BACKSPLASH
• STAINLESS STEEL APPLIANCES
• DOUBLE SINKS
• DECK
• FENCED IN BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $422k.

Deal economics

• At list price, monthly cash flow is $-571 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (34.6% below list).
• Recommended offer: $276k (34.6% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.9% in Meadowbrook — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#161 in VA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities F, commute F.
• Chesterfield County Public School District (suburban): math 52% / reading 64% proficiency, ranked #57 of 131 in VA (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.9%/yr); 234 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,307 units permitted in Chesterfield County in 2024 (462 in 5+ unit buildings).
• At $2,761/mo this rent would consume 50% of the median local household income ($67k/yr) (locally 2031% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Chesterfield County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($397k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $43k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $276,063 (34.6% 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 76 days. Have you received any prior offers? Is the seller open to a 35% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
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: 0.65% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.80%
• DSCR: 0.74
• GRM: 12.7

CMA / ARV

• ARV (median comp): $497,842
• List price: $422,000
• Delta: -15.23%
• 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
6901 Crosswinds Dr	0.12mi	3/2.5 (-1)	2,464 (+3%)	1mo	$500,001	$203	83
7306 Dunharrow Trce	0.31mi	4/2.5	2,423 (+2%)	5mo	$548,668	$226	79
7237 Crosswinds Dr	0.45mi	3/2.5 (-1)	2,423 (+2%)	5mo	$499,990	$206	68
7292 Crosswinds Dr	0.57mi	3/2.5 (-1)	2,423 (+2%)	1mo	$509,990	$210	64
6637 Whisperwood Dr	0.37mi	3/2.5 (-1)	2,192 (-8%)	2mo	$435,000	$198	63
7300 Dunharrow Trce	0.30mi	4/3.5	2,114 (-11%)	4mo	$508,228	$240	60
7313 Parasol Ct	0.33mi	4/2.5	2,718 (+14%)	4mo	$506,250	$186	57
6949 Lake Caroline Dr	0.66mi	4/2.5	2,564 (+8%)	2mo	$465,000	$181	55
7291 Crosswinds Dr	0.54mi	4/2.5	2,718 (+14%)	3mo	$544,960	$201	49
6101 Whisperwood Dr	0.73mi	5/3.0 (+1)	2,511 (+5%)	3mo	$528,490	$210	48
6106 Whisperwood Dr	0.73mi	5/3.0 (+1)	2,511 (+5%)	4mo	$521,490	$208	46
6308 Jackline Run	0.70mi	3/2.5 (-1)	2,080 (-13%)	1mo	$448,990	$216	41

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 · 1.93% rent growth · sell at horizon

5-year hold

• IRR: -27.4%
• Equity multiple: 0.09×
• Total profit: $-107,754
• Equity at exit: $62,922

10-year hold

• IRR: -29.5%
• Equity multiple: -0.29×
• Total profit: $-152,716
• Equity at exit: $36,487

Cash invested: $118,160 (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 23234

• Rents YoY: 1.9%
• Active inventory: 234
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,761 medium
• Mortgage (P&I): −$2,213
• Tax from tax record: −$303 /mo · $3,637/yr
• Insurance: −$176
• HOA: −$60
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $-571

Break-even live

Break-even rent $3,484

Max offer price $321,118

Occupancy floor —

Sensitivity live

Price	-10% $-332	-5% $-452	+0% $-571	+5% $-691	+10% $-810
Rent	-10% $-789	-5% $-680	+0% $-571	+5% $-462	+10% $-353
Rate	-1.0pp $-359	-0.5pp $-464	base $-571	+0.5pp $-680	+1.0pp $-792

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: $105,500
• Closing costs: $12,660
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7001 Batten Ct Richmond, VA	5.0	3.0	3040	$3,300	$1.09	18d	1	0.40mi
6139 Buntline Ln North Chesterfield, VA	3.0	2.5	1727	$2,400	$1.39	4d	1	0.60mi
6113 Jackline Run North Chesterfield, VA	4.0	3.5	2333	$2,700	$1.16	25d	1	0.67mi
6512 Kings Grove Ct Chesterfield, VA	4.0	3.5	2850	$3,300	$1.16	45d	1	1.33mi

HOA detail

• Monthly dues: $60 · $720/yr

Listing history 25 events

1. 2026-06-21
   days on market $422,000 Active 76 DOM
2. 2026-06-18
   days on market $422,000 Active 73 DOM
3. 2026-06-17
   days on market $422,000 Active 72 DOM
4. 2026-06-16
   days on market $422,000 Active 71 DOM
5. 2026-06-15
   days on market $422,000 Active 70 DOM
6. 2026-06-13
   days on market $422,000 Active 68 DOM
7. 2026-06-13
   days on market $422,000 Active 67 DOM
8. 2026-06-09
   days on market $422,000 Active 64 DOM
9. 2026-06-08
   days on market $422,000 Active 63 DOM
10. 2026-06-07
    days on market $422,000 Active 62 DOM
11. 2026-06-05
    pricedays on market $422,000 Active 59 DOM
12. 2026-06-03
    days on market $444,000 Active 58 DOM
13. 2026-06-02
    days on market $444,000 Active 57 DOM
14. 2026-06-01
    days on market $444,000 Active 56 DOM
15. 2026-05-31
    days on market $444,000 Active 55 DOM
16. 2026-05-07
    price $450,000 382-char remark

    Show marketing remark (382 chars)

    Check out 6454 Faulkner Dr, recently updated with fresh interior paint throughout. The kitchen includes a functional island, an accent backsplash, and stainless steel appliances. The primary bathroom has double sinks for daily utility. A deck connects to a fenced in backyard, establishing a defined outdoor space. This residence provides a practical and updated living environment.

17. 2026-04-16
    price $458,000 382-char remark

    Show marketing remark (382 chars)

    Check out 6454 Faulkner Dr, recently updated with fresh interior paint throughout. The kitchen includes a functional island, an accent backsplash, and stainless steel appliances. The primary bathroom has double sinks for daily utility. A deck connects to a fenced in backyard, establishing a defined outdoor space. This residence provides a practical and updated living environment.

18. 2026-04-06
    listed $465,000 Active 382-char remark

    Show marketing remark (382 chars)

    Check out 6454 Faulkner Dr, recently updated with fresh interior paint throughout. The kitchen includes a functional island, an accent backsplash, and stainless steel appliances. The primary bathroom has double sinks for daily utility. A deck connects to a fenced in backyard, establishing a defined outdoor space. This residence provides a practical and updated living environment.

19. 2026-04-02
    soldstatus $445,000
20. 2021-03-26
    soldstatus $366,350 Closed 1252-char remark

    Show marketing remark (1252 chars)

    The Galen built by America’s #1 builder, DR Horton, is an open floor plan with the kitchen facing the family room & a flex room in the front of the house. There are 4 bedrooms upstairs with the owner’s suite covering one whole side of the 2nd floor! This home includes granite kitchen counters, led disc lights in the kitchen, Mohawk laminate flooring, a tankless hot water heater, 2 car garage, & a patio out back. Watermark is one of Chesterfield County’s most conveniently located communities. The homes are nestled around Cosby’s lake and the community is just a few minutes from 150 and 288. Less than 5 min to dining & shopping & 20 min to downtown Richmond. Make an appt today to learn about current incentives and colors for this home. A one-year builder’s warranty. Your new home includes our smart home technology package! A D. R. Horton Smart Home is equipped with technology that includes: Z-Wave programmable thermostat manufactured by Honeywell; Z-Wave door lock manufactured by Kwikset; Z-Wave wireless switch manufactured by Eaton Corporation; a Qolsys, Inc. touchscreen Smart Home control device; an automation platform from Alarm(. )com; SkyBell video doorbell; an Amazon Echo Dot.

21. 2021-02-01
    status Pending 1252-char remark

    Show marketing remark (1252 chars)

    The Galen built by America’s #1 builder, DR Horton, is an open floor plan with the kitchen facing the family room & a flex room in the front of the house. There are 4 bedrooms upstairs with the owner’s suite covering one whole side of the 2nd floor! This home includes granite kitchen counters, led disc lights in the kitchen, Mohawk laminate flooring, a tankless hot water heater, 2 car garage, & a patio out back. Watermark is one of Chesterfield County’s most conveniently located communities. The homes are nestled around Cosby’s lake and the community is just a few minutes from 150 and 288. Less than 5 min to dining & shopping & 20 min to downtown Richmond. Make an appt today to learn about current incentives and colors for this home. A one-year builder’s warranty. Your new home includes our smart home technology package! A D. R. Horton Smart Home is equipped with technology that includes: Z-Wave programmable thermostat manufactured by Honeywell; Z-Wave door lock manufactured by Kwikset; Z-Wave wireless switch manufactured by Eaton Corporation; a Qolsys, Inc. touchscreen Smart Home control device; an automation platform from Alarm(. )com; SkyBell video doorbell; an Amazon Echo Dot.

22. 2021-01-22
    price $366,350 1252-char remark

    Show marketing remark (1252 chars)

    The Galen built by America’s #1 builder, DR Horton, is an open floor plan with the kitchen facing the family room & a flex room in the front of the house. There are 4 bedrooms upstairs with the owner’s suite covering one whole side of the 2nd floor! This home includes granite kitchen counters, led disc lights in the kitchen, Mohawk laminate flooring, a tankless hot water heater, 2 car garage, & a patio out back. Watermark is one of Chesterfield County’s most conveniently located communities. The homes are nestled around Cosby’s lake and the community is just a few minutes from 150 and 288. Less than 5 min to dining & shopping & 20 min to downtown Richmond. Make an appt today to learn about current incentives and colors for this home. A one-year builder’s warranty. Your new home includes our smart home technology package! A D. R. Horton Smart Home is equipped with technology that includes: Z-Wave programmable thermostat manufactured by Honeywell; Z-Wave door lock manufactured by Kwikset; Z-Wave wireless switch manufactured by Eaton Corporation; a Qolsys, Inc. touchscreen Smart Home control device; an automation platform from Alarm(. )com; SkyBell video doorbell; an Amazon Echo Dot.

23. 2020-12-18
    price $363,350 1252-char remark

    Show marketing remark (1252 chars)

    The Galen built by America’s #1 builder, DR Horton, is an open floor plan with the kitchen facing the family room & a flex room in the front of the house. There are 4 bedrooms upstairs with the owner’s suite covering one whole side of the 2nd floor! This home includes granite kitchen counters, led disc lights in the kitchen, Mohawk laminate flooring, a tankless hot water heater, 2 car garage, & a patio out back. Watermark is one of Chesterfield County’s most conveniently located communities. The homes are nestled around Cosby’s lake and the community is just a few minutes from 150 and 288. Less than 5 min to dining & shopping & 20 min to downtown Richmond. Make an appt today to learn about current incentives and colors for this home. A one-year builder’s warranty. Your new home includes our smart home technology package! A D. R. Horton Smart Home is equipped with technology that includes: Z-Wave programmable thermostat manufactured by Honeywell; Z-Wave door lock manufactured by Kwikset; Z-Wave wireless switch manufactured by Eaton Corporation; a Qolsys, Inc. touchscreen Smart Home control device; an automation platform from Alarm(. )com; SkyBell video doorbell; an Amazon Echo Dot.

24. 2020-11-24
    listed $358,990 Active 1252-char remark

    Show marketing remark (1252 chars)

    The Galen built by America’s #1 builder, DR Horton, is an open floor plan with the kitchen facing the family room & a flex room in the front of the house. There are 4 bedrooms upstairs with the owner’s suite covering one whole side of the 2nd floor! This home includes granite kitchen counters, led disc lights in the kitchen, Mohawk laminate flooring, a tankless hot water heater, 2 car garage, & a patio out back. Watermark is one of Chesterfield County’s most conveniently located communities. The homes are nestled around Cosby’s lake and the community is just a few minutes from 150 and 288. Less than 5 min to dining & shopping & 20 min to downtown Richmond. Make an appt today to learn about current incentives and colors for this home. A one-year builder’s warranty. Your new home includes our smart home technology package! A D. R. Horton Smart Home is equipped with technology that includes: Z-Wave programmable thermostat manufactured by Honeywell; Z-Wave door lock manufactured by Kwikset; Z-Wave wireless switch manufactured by Eaton Corporation; a Qolsys, Inc. touchscreen Smart Home control device; an automation platform from Alarm(. )com; SkyBell video doorbell; an Amazon Echo Dot.

25. 2020-01-24
    soldstatus $3,071,000

ⓘ 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: $3,637 · $303/mo
• Projected year-2 tax: $3,637 · $303/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $33,128
• − Mortgage interest: −$23,639
• − Property taxes: −$3,637
• − Insurance: −$2,110
• − Repairs & maintenance: −$2,650
• − Management: −$2,650
• − HOA: −$720
• − Depreciation: −$12,276
• Taxable loss: −$14,555
• Est. tax savings @ 24.0%: +$3,493
• After-tax cash flow: $-3,360/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: Chesterfield County Public School District
• NCES district ID: 5100840
• Math proficiency: 52% ▼ -30.00%
• Reading proficiency: 64% ▼ -15.00%
• Median HH income: $72,821
• Composite: 51.56/100
• National rank: #1712
• State rank: #57 of 131 in VA

Livability — Meadowbrook

• Score: 73/100
• State rank: #161
• US rank: #5004

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Chesterfield County · 406,988 people
• City population: 46,284
• Metro: Richmond, VA
• Population (ZIP): 47,465
• Household income: $66,619
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 2031.0

Population outlook (Chesterfield County) Hauer SSP2

• Today (2025): 377,190 people
• By 2030: 395,710 · +4.9%
• By 2040: 427,694 · +13.4%
• By 2050: 452,706 · +20.0%
• By 2075: 505,533 · +34.0%
• By 2100: 521,282 · +38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 46% Hispanic / Latino 30% White 18% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Italian 1%
• Foreign-born: 20% · Canada
• Languages at home: 69% English-only · Spanish 26% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Chesterfield

• 2024 margin: Lean D (+9.0) · D 53.8% · R 44.8% · Other 1.4%
• 2008→2024 swing: +16.4pp toward D · 2008: -7.5pp · 2024: 9.0pp
• All cycles: 2024: D+9.0 2020: D+6.7 2016: R+2.2 2012: R+7.1 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -205.50%
• Current HPI: 317.6006
• Rent YoY: ▲ 1.93%
• 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

-85.3% since first listed

10 events — show timeline

• 2026-05-07 Price Changed $450,000 CVRMLS
• 2026-04-16 Price Changed $458,000 CVRMLS
• 2026-04-06 Listed $465,000 CVRMLS
• 2026-04-02 Sold (Public Records) $445,000 Public Records
• 2021-03-26 Sold (MLS) $366,350 CVRMLS
• 2021-02-01 Pending — CVRMLS
• 2021-01-22 Price Changed $366,350 CVRMLS
• 2020-12-18 Price Changed $363,350 CVRMLS
• 2020-11-24 Listed $358,990 CVRMLS
• 2020-01-24 Sold (Public Records) $3,071,000 Public Records

Property tax history

+42.6%/yr

Latest (2025): $3,637 · +1.1% YoY. Source: county tax records.