917 Boughton Way · Virginia Beach, VA 23456

$364,899

4 bd · 2.0 ba · 1,544 sqft · SingleFamily public records · 26 Days on market

Built 1974 6,534 sqft lot Est $383k · at est. $22/mo HOA · 1% 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).

• Cash flow +11.0/30.0
• ARV discount +9.6/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• DSCR +3.2/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great ranch home just minutes from the ocean front, bases, and town center. This 4-bedroom home boasts a newer 35-year shingle roof, 2022 HVAC, new flooring throughout, new paint, and a 1-car garage inside a cul-de-sac. Wow. The home includes two separate living room spaces, a formal dining room, with brand new appliances and white cabinets in the kitchen, and the primary bedroom has a large walk-in closet and private bathroom. The home sits between two neighborhood parks, with a large open field located behind the house. Come check this Virginia Beach gem out!

Key facts

• 2022 hvac
• Formal dining room
• Newer shingle roof

Tags

• NEWER SHINGLE ROOF
• 2022 HVAC
• NEW FLOORING
• NEW PAINT
• FORMAL DINING ROOM
• NEW APPLIANCES

Property features AI

Finance

• HOA & community: HOA membership with Magic Hollow Community Association; HOA fee approximately $22 monthly; Ground maintenance and playgrounds provided by the association

Exterior

• Parking: Attached 1-car garage; Driveway parking; Garage approximately 300 sq ft
• Utilities: City/County water; City/County sewer; Electric service
• Home design: Detached property; Ranch-style single-story; One living level; Built on slab foundation
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Patio; Located on a cul-de-sac; Back yard partially fenced with chain link

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: First-floor master bedroom; Master bedroom with bath; One bedroom has an ensuite
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning; Electric water heater
• Interior features: Pull-down attic stairs; Walk-in attic; Walk-in closet
• Laundry & utility: Washer; Dryer; Utility closet

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $365k.

Deal economics

• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $338k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (24.9% below list).
• Recommended offer: $274k (24.9% 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: Brookwood Elementary (math 56% / reading 68%, grade B, #480 of 1,108 statewide, top 46%, 571 students, 66% FRL); Ocean Lakes High (math 73% / reading 89%, grade A, #52 of 319 statewide, top 17%, 1,855 students, 29% FRL) — zoned schools average 48% FRL vs 28% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 356 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $3k of loan paydown is wiped out by about $11k 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 26 days — a 2% lower offer ($359k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $274,121 (24.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.75% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.81%
• DSCR: 0.92
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $382,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
917 Boughton Way	0.00mi	4/2.0	1,544 (0%)	0mo	$370,000	$240	100
2904 Augusta Cir	0.12mi	4/2.0	1,647 (+7%)	1mo	$408,000	$248	83
2909 Dante Pl	0.15mi	3/2.0 (-1)	1,404 (-9%)	2mo	$350,000	$249	71
1288 New Land Dr	0.34mi	4/1.5	1,600 (+4%)	6mo	$315,000	$197	71
2925 Bamberg Pl	0.10mi	3/2.0 (-1)	1,356 (-12%)	4mo	$320,000	$236	67
2904 Bamberg Pl	0.07mi	3/2.0 (-1)	1,356 (-12%)	6mo	$352,000	$260	66
1224 Blue Jay Dr	0.69mi	4/2.0	1,500 (-3%)	11mo	$335,000	$223	54
2932 Fetsch Pl	0.31mi	3/2.0 (-1)	1,317 (-15%)	3mo	$336,000	$255	54
3073 Pewter Rd	0.69mi	4/1.5	1,464 (-5%)	7mo	$333,225	$228	52
736 Carriage Hill Rd	0.61mi	3/2.0 (-1)	1,408 (-9%)	4mo	$380,000	$270	49
3048 John Hancock Dr	0.59mi	5/2.0 (+1)	1,668 (+8%)	10mo	$430,000	$258	45
3052 Pewter Rd	0.64mi	5/2.0 (+1)	1,668 (+8%)	12mo	$399,900	$240	42

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.35×
• Total profit: $-66,861
• Equity at exit: $54,408

10-year hold

• IRR: -9.6%
• Equity multiple: 0.39×
• Total profit: $-62,159
• Equity at exit: $31,550

Cash invested: $102,172 (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 23456

• Rents YoY: 3.8%
• Active inventory: 356
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,741 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$232 /mo · $2,785/yr
• Insurance: −$152
• HOA: −$22
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $-154

Break-even live

Break-even rent $2,936

Max offer price $337,672

Occupancy floor —

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: $91,225
• Closing costs: $10,947
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2908 Peppercorn Ct Virginia Beach, VA	4.0	1.5	1381	$2,295	$1.66	23d	1	0.24mi
2925 Theodorus Ct Virginia Beach, VA	3.0	1.5	1120	$2,000	$1.79	4d	1	0.27mi
932 Gossman Dr Virginia Beach, VA	3.0	1.5	1430	$2,300	$1.61	21d	1	0.57mi
1232 White Birch Ln Virginia Beach, VA	3.0	2.0	1254	$2,095	$1.67	23d	1	1.17mi
1240 White Birch Ln Virginia Beach, VA	3.0	1.5	1254	$1,950	$1.56	17d	1	1.17mi
3304 Weeping Willow Ln Virginia Beach, VA	3.0	1.5	1254	$1,750	$1.40	23d	1	1.20mi
3432 Pasture Ln Virginia Beach, VA	4.0	2.5	2140	$2,700	$1.26	23d	1	1.31mi

HOA detail

• Monthly dues: $22 · $264/yr

Listing history 8 events

1. 2026-04-30
   status Under Contract
2. 2026-04-23
   historical Active Under Contract
3. 2026-04-17
   price $364,899
4. 2026-04-15
   price $364,900
5. 2026-04-14
   status Active
6. 2026-04-14
   historical
7. 2026-04-08
   historical Active Under Contract
8. 2026-04-03
   listed $349,900 Active

ⓘ 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: $2,785 · $232/mo
• Projected year-2 tax: $2,992 · $249/mo
• Expected delta: +$207/yr (+$17/mo · 7.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,895
• − Mortgage interest: −$20,440
• − Property taxes: −$2,785
• − Insurance: −$1,824
• − Repairs & maintenance: −$2,632
• − Management: −$2,632
• − HOA: −$264
• − Depreciation: −$10,615
• Taxable loss: −$8,297
• Est. tax savings @ 24.0%: +$1,991
• After-tax cash flow: $142/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): 61,911
• Household income: $130,533
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 390.0

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 0.60)
• Race & ethnicity: White 60% Black 13% Asian 12% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 85% English-only · Tagalog/Filipino 4% Spanish 4% Other Indo-European 2%

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: ▼ -328.17%
• Current HPI: 318.3094
• Rent YoY: ▲ 3.78%
• 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

+4.3% since first listed

8 events — show timeline

• 2026-04-30 Pending — REINMLS
• 2026-04-23 Contingent — REINMLS
• 2026-04-17 Price Changed $364,899 REINMLS
• 2026-04-15 Price Changed $364,900 REINMLS
• 2026-04-14 Relisted — REINMLS
• 2026-04-14 Listing Removed — REINMLS
• 2026-04-08 Contingent — REINMLS
• 2026-04-03 Listed $349,900 REINMLS

Property tax history

+3.7%/yr

Latest (2025): $2,785 · -0.0% YoY. Source: county tax records.