5816 Cherokee Cluster Cmn N · Virginia Beach, VA 23462

$259,900

3 bd · 2.5 ba · 1,594 sqft · Townhouse public records · 79 Days on market

Built 1974 Est $250k · at est.

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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 +16.9/30.0
• Schools +6.4/10.0
• ARV discount +5.8/15.0
• DSCR +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment! Well-maintained 3-bedroom, 2.5-bath townhouse in the highly desirable Kempsville area, located within the sought-after Kempsville school district. This home features a functional layout with a spacious living area, dining space, and a well-equipped kitchen. Upstairs offers three generously sized bedrooms, including a primary suite with a private bath. Proven as a strong rental property, this home presents an excellent opportunity. Conveniently located near shopping, dining, and major interstates—offering both comfort and long-term value. Tenant requires 48 hour notice for showings. Property is being sold as part of a portfolio - 10628151 and 10628119.

Key facts

• Spacious living area
• Private bath
• Primary suite

Tags

• KEMPSVILLE AREA
• KEMPSVILLE SCHOOL DISTRICT
• SPACIOUS LIVING AREA
• WELL-EQUIPPED KITCHEN
• PRIMARY SUITE
• PRIVATE BATH

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Driveway spaces
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Attached townhouse; 2 stories; Slab foundation; Simple ownership
• Construction: Asphalt shingle roof
• Exterior features: Brick siding; Wood fence

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: No bedroom and full bathroom on first floor
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump for heating and cooling
• Interior features: 6 total rooms
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $260k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (12.2% below list).
• Recommended offer: $228k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: Arrowhead Elementary (math 62% / reading 72%, grade B+, #381 of 1,108 statewide, top 36%, 525 students, 57% FRL); Kempsville High (math 73% / reading 78%, grade A-, #105 of 319 statewide, top 33%, 2,006 students, 42% FRL) — zoned schools average 50% FRL vs 28% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.6%/yr); 227 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).
• This rent runs 40% of the median local income ($69k/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.
• 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 79 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $82k; list at $260k implies a 215% 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 $228,144 (12.2% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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 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: 0.88% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.82%
• DSCR: 1.13
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $250,258
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5704 Colter Ct	0.11mi	3/2.5	1,467 (-8%)	0mo	$283,000	$193	81
116 Bristol Ave	0.36mi	3/2.0	1,532 (-4%)	2mo	$225,000	$147	73
108 Bristol Ave	0.35mi	3/2.0	1,532 (-4%)	9mo	$242,000	$158	68
135 Bristol Ave	0.41mi	3/2.5	1,660 (+4%)	13mo	$255,000	$154	64
6064 Foresttown Dr	0.40mi	3/2.0	1,532 (-4%)	12mo	$237,452	$155	63
141 Bristol Ave	0.41mi	3/1.5	1,532 (-4%)	10mo	$241,000	$157	62

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 · 5.61% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.65×
• Total profit: $-25,125
• Equity at exit: $38,752

10-year hold

• IRR: 3.2%
• Equity multiple: 1.25×
• Total profit: $18,510
• Equity at exit: $22,471

Cash invested: $72,772 (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 23462

• Rents YoY: 5.6%
• Active inventory: 227
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,281 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$160 /mo · $1,918/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $171

Break-even live

Break-even rent $2,065

Max offer price $259,900

Occupancy floor 87%

Sensitivity live

Price	-10% $318	-5% $245	+0% $171	+5% $98	+10% $24
Rent	-10% $-9	-5% $81	+0% $171	+5% $261	+10% $352
Rate	-1.0pp $302	-0.5pp $237	base $171	+0.5pp $104	+1.0pp $35

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5617 Morningside Ct Virginia Beach, VA	3.0	1.5	1291	$1,850	$1.43	25d	1	0.11mi
6114 Lyndhurst Ave Norfolk, VA	3.0	2.0	1600	$2,395	$1.50	45d	1	0.34mi
5828 Susquehanna Dr Virginia Beach, VA	4.0	3.5	1710	$2,750	$1.61	3d	1	0.35mi
5931 Sellger Dr Norfolk, VA	3.0	2.0	1650	$2,550	$1.55	45d	1	0.76mi
6163 Kempsville Cir Norfolk, VA	1.0–3.0	1.0–2.0	1120	$3,008	$2.69	3d	12	0.79mi
6650 Stoney Point South Norfolk, VA	3.0	2.5	1562	$2,100	$1.34	45d	1	0.80mi
150 Loflin Way Virginia Beach, VA	2.0	2.0	1197	$1,775	$1.48	25d	1	0.81mi
6647 Ethan Allen Ln Norfolk, VA	2.0	1.5	1176	$1,750	$1.49	11d	1	0.85mi
323 Honaker Ave Norfolk, VA	3.0	2.0	2000	$2,600	$1.30	12d	1	0.94mi
6602 Stoney Point North Norfolk, VA	3.0	2.0	1562	$1,795	$1.15	45d	1	0.95mi
5382 Leicester Ct Virginia Beach, VA	3.0	1.5	1320	$1,900	$1.44	25d	1	0.98mi
5363 Leicester Ct Unit 1 Virginia Beach, VA	3.0	1.5	1330	$2,000	$1.50	25d	1	1.02mi
5441 Greenwich Rd Virginia Beach, VA	1.0–2.0	1.0–2.0	1075	$3,149	$2.93	3d	13	1.02mi
345 W Palmyra Dr Virginia Beach, VA	3.0	2.0	1927	$2,450	$1.27	22d	1	1.04mi
113 S Parliament Dr Virginia Beach, VA	3.0	2.0	1770	$2,600	$1.47	25d	1	1.17mi
5313 Sir Barton Dr Virginia Beach, VA	3.0	2.0	1556	$2,750	$1.77	25d	1	1.22mi
400 S Military Hwy Virginia Beach, VA	1.0–2.0	1.0–2.0	1093	$2,495	$2.28	3d	9	1.33mi
5516 Seawall Ct Virginia Beach, VA	2.0–3.0	1.0–3.0	1125	$2,421	$2.15	3d	18	1.42mi
6333 Tuttle Ave Norfolk, VA	3.0	2.5	1800	$2,695	$1.50	5d	1	1.44mi
5775 W Hastings Arch Virginia Beach, VA	2.0	1.5	1200	$1,700	$1.42	45d	1	1.46mi

Listing history 15 events

1. 2026-06-21
   days on market $259,900 Active 79 DOM
2. 2026-06-18
   days on market $259,900 Active 76 DOM
3. 2026-06-17
   days on market $259,900 Active 75 DOM
4. 2026-06-16
   days on market $259,900 Active 74 DOM
5. 2026-06-15
   days on market $259,900 Active 73 DOM
6. 2026-06-13
   days on market $259,900 Active 71 DOM
7. 2026-06-09
   days on market $259,900 Active 67 DOM
8. 2026-06-08
   days on market $259,900 Active 66 DOM
9. 2026-06-07
   days on market $259,900 Active 65 DOM
10. 2026-06-03
    days on market $259,900 Active 61 DOM
11. 2026-06-02
    days on market $259,900 Active 60 DOM
12. 2026-06-01
    days on market $259,900 Active 59 DOM
13. 2026-05-31
    days on market $259,900 Active 58 DOM
14. 2026-04-03
    listed $259,900 Active
15. 2003-07-17
    soldstatus $82,500

ⓘ 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: $1,918 · $160/mo
• Projected year-2 tax: $2,131 · $178/mo
• Expected delta: +$213/yr (+$18/mo · 11.1%)

ⓘ 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 ≥106°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: $27,377
• − Mortgage interest: −$14,558
• − Property taxes: −$1,918
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,190
• − Management: −$2,190
• − Depreciation: −$7,561
• Taxable loss: −$2,339
• Est. tax savings @ 24.0%: +$561
• After-tax cash flow: $2,617/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): 66,151
• Household income: $69,040
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 3906.0

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 45% Black 32% Hispanic / Latino 12% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 2% 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: ▼ -269.19%
• Current HPI: 333.1908
• Rent YoY: ▲ 5.61%
• 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

+215.0% since first listed

2 events — show timeline

• 2026-04-03 Listed $259,900 REINMLS
• 2003-07-17 Sold (Public Records) $82,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,918 · +5.9% YoY. Source: county tax records.