1411 Olivewood Ct · Virginia Beach, VA 23464

$205,900

2 bd · 1.0 ba · 977 sqft · Condo public records · 27 Days on market

Built 1986 $200/mo HOA · 11% of rent

---

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 +11.2/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• 1% rule +3.8/10.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated 2-bedroom, 1-bath second floor condo in Virginia Beach. It features a high ceiling with skylight, filling the space with natural light. The open living area has an inviting feel with a refreshed fireplace as a cozy focal point. The primary bedroom offers a separate vanity area for added convenience. Step outside to the private balcony - great for relaxing or enjoying morning coffee. Recent updates include new flooring throughout, new exterior door to balcony, new ceiling fans, new vanities and toilet, new outlet covers & switches, and newer Samsung appliances. HVAC was replaced in 2021. Exterior steps were recently replaced by the owner, provid

Key facts

• High ceiling
• Private balcony
• New flooring

Tags

• HIGH CEILING
• SKYLIGHT
• SEPARATE VANITY AREA
• PRIVATE BALCONY
• NEW FLOORING
• NEW EXTERIOR DOOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $206k.

Deal economics

• At list price, monthly cash flow is $-81 ($-967/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (11.7% below list).
• Recommended offer: $182k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: Princess Anne Elementary (math 85% / reading 86%, grade A+, #61 of 1,108 statewide, top 6%, 682 students, 13% FRL); Salem Middle (math 70% / reading 82%, grade A, #42 of 342 statewide, top 13%, 1,073 students, 39% FRL); Salem High (math 79% / reading 90%, grade A, #23 of 319 statewide, top 8%, 1,650 students, 36% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents rising fast (+6.4%/yr); 234 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• It's been on market 27 days — a 2% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $132k; list at $206k implies a 56% gain — meaningful room to come down on a strong offer.

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 $181,720 (11.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.36% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.44×
• Total profit: $-32,061
• Equity at exit: $30,700

10-year hold

• IRR: -1.4%
• Equity multiple: 0.89×
• Total profit: $-6,257
• Equity at exit: $17,802

Cash invested: $57,652 (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 23464

• Rents YoY: 6.4%
• Active inventory: 234
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,817 medium
• Mortgage (P&I): −$1,080
• Tax from tax record: −$151 /mo · $1,807/yr
• Insurance: −$86
• HOA: −$200
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-81

Break-even live

Break-even rent $1,919

Max offer price $191,669

Occupancy floor 99%

Sensitivity live

Price	-10% $36	-5% $-22	+0% $-81	+5% $-139	+10% $-197
Rent	-10% $-224	-5% $-152	+0% $-81	+5% $-9	+10% $63
Rate	-1.0pp $23	-0.5pp $-28	base $-81	+0.5pp $-134	+1.0pp $-188

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: $51,475
• Closing costs: $6,177
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1422 Deerpond Ln Virginia Beach, VA	2.0	2.0	1015	$1,695	$1.67	23d	1	0.01mi
1420 Deerpond Ln Virginia Beach, VA	2.0	2.0	1014	$1,695	$1.67	25d	1	0.02mi
1407 Rand Ct Virginia Beach, VA	2.0	2.0	1014	$1,695	$1.67	25d	1	0.08mi
1749 Lacrosse Dr Virginia Beach, VA	1.0–2.0	1.0–2.0	905	$2,189	$2.42	3d	7	0.23mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-04-06
   status Under Contract
2. 2026-03-16
   historical Active Under Contract
3. 2026-03-10
   listed $205,900 Active
4. 2024-05-20
   status Under Contract
5. 2024-04-30
   historical Active Under Contract
6. 2024-04-23
   listed $185,000 Active
7. 2021-08-10
   soldstatus $132,000
8. 2021-07-10
   status Under Contract
9. 2021-07-06
   historical Active Under Contract
10. 2021-06-18
    status Active
11. 2021-06-15
    historical Active Under Contract
12. 2021-06-10
    listed $129,900 Active
13. 2005-12-02
    soldstatus $120,000
14. 2005-06-21
    soldstatus $99,000
15. 2003-06-30
    soldstatus $66,000

ⓘ 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: $1,807 · $151/mo
• Projected year-2 tax: $1,807 · $151/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 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 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,806
• − Mortgage interest: −$11,534
• − Property taxes: −$1,807
• − Insurance: −$1,030
• − Repairs & maintenance: −$1,745
• − Management: −$1,745
• − HOA: −$2,400
• − Depreciation: −$5,990
• Taxable loss: −$4,443
• Est. tax savings @ 24.0%: +$1,066
• After-tax cash flow: $100/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): 75,061
• Household income: $92,468
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 1929.0

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 50% Black 23% Asian 10% Two or more races 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, Vietnam, China
• Languages at home: 85% English-only · Tagalog/Filipino 5% Spanish 5% 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: ▼ -271.27%
• Current HPI: 324.1854
• Rent YoY: ▲ 6.36%
• 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

+212.0% since first listed

15 events — show timeline

• 2026-04-06 Pending — REINMLS
• 2026-03-16 Contingent — REINMLS
• 2026-03-10 Listed $205,900 REINMLS
• 2024-05-20 Pending — REINMLS
• 2024-04-30 Contingent — REINMLS
• 2024-04-23 Listed $185,000 REINMLS
• 2021-08-10 Sold (Public Records) $132,000 Public Records
• 2021-07-10 Pending — REINMLS
• 2021-07-06 Contingent — REINMLS
• 2021-06-18 Relisted — REINMLS
• 2021-06-15 Contingent — REINMLS
• 2021-06-10 Listed $129,900 REINMLS
• 2005-12-02 Sold (Public Records) $120,000 Public Records
• 2005-06-21 Sold (Public Records) $99,000 Public Records
• 2003-06-30 Sold (Public Records) $66,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,807 · +12.9% YoY. Source: county tax records.