4162 Reid St · Chesapeake, VA 23324

$290,000

3 bd · 2.0 ba · 1,330 sqft · SingleFamily public records · 24 Days on market

Built 1955 5,924 sqft lot Est $326k · 11% under

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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 +12.5/15.0
• Cash flow +12.4/30.0
• Schools +5.8/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This adorable ranch home is move-in ready and has been professionally renovated from top to bottom. The architectural roof adds exceptional curb appeal, and quality craftsmanship is evident throughout the home. Conveniently located near schools, shopping, and neighborhood amenities. Fresh interior paint and carpet, stylish knockdown wall finish adds a modern touch throughout. The spacious layout includes a breezeway connecting the family room to the kitchen, which features updated appliances, including a refrigerator with ice maker and water dispenser, custom granite countertops, and ceramic tile flooring. Large utility/laundry room, spacious walk-in closet in the primary bedroom, custom-de

Key facts

• Updated appliances
• 5,924 sq ft lot
• 2 parking spots

Tags

• UPDATED APPLIANCES
• CUSTOM GRANITE COUNTERTOPS
• CERAMIC TILE FLOORING
• LARGE UTILITY LAUNDRY ROOM
• SPACIOUS WALK-IN CLOSET
• PREMIUM LAMINATE FLOORING

Property features AI

Finance

• Other: Lot approximately 0.136 acre (about 60' x 100'); Neighborhood: PORTLUCK
• HOA & community: No HOA fees

Exterior

• Parking: Driveway parking for 2 vehicles
• Utilities: City / county water; City / county sewer; Electric water heater
• Home design: Detached home; Ranch / Transitional style; Single-story living level; Crawlspace foundation
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Back privacy fence; Porch

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator; Pantry / breakfast area adjacent to kitchen
• Bedrooms: Bedroom and full bathroom on first floor; Master bedroom with bath
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling; Electric water heater
• Interior features: Walk-in closet; Attic; Foyer; Porch; Pantry; Utility room; Breakfast area
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-47 ($-570/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (21.2% below list).
• Recommended offer: $228k (21.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.7% in Chesapeake — 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 70/100 on livability (#236 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, cost of living C-, amenities F.
• Chesapeake City Public School District (suburban): math 58% / reading 74% proficiency, ranked #31 of 131 in VA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Portlock Primary (541 students, 93% FRL) — zoned schools average 93% FRL vs 28% district-wide (65 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 116 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 597 units permitted in Chesapeake city in 2024 (0 in 5+ unit buildings).
• At $2,284/mo this rent would consume 48% of the median local household income ($57k/yr) (locally 1301% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Chesapeake County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $175k; list at $290k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $228,405 (21.2% 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $325,850
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4126 Reid St	0.08mi	3/2.5	1,489 (+12%)	4mo	$349,900	$235	71
405 Villanova Ave	0.39mi	3/2.0	1,441 (+8%)	0mo	$230,000	$160	68
1819 Warfield St	0.30mi	3/2.5	1,447 (+9%)	7mo	$314,900	$218	64
4000 Hamilton St	0.56mi	3/2.0	1,235 (-7%)	1mo	$335,000	$271	61
4109 Franklin St	0.33mi	3/2.5	1,500 (+13%)	3mo	$335,000	$223	59
2105 Portlock Rd	0.28mi	3/2.0	1,512 (+14%)	7mo	$225,000	$149	59
821 Lindale Dr	0.57mi	3/2.0	1,468 (+10%)	2mo	$359,000	$245	55
1207 Earle Ave	0.48mi	2/2.0 (-1)	1,175 (-12%)	2mo	$320,000	$272	52
816 Gene Cres	0.68mi	3/2.0	1,196 (-10%)	0mo	$330,000	$276	51
3011 Southport Ave	0.66mi	3/2.0	1,225 (-8%)	7mo	$360,000	$294	50
3207 Walden St	0.59mi	3/1.0	1,200 (-10%)	7mo	$289,900	$242	46
3106 Joseph Ave	0.67mi	2/2.0 (-1)	1,153 (-13%)	5mo	$292,000	$253	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-50,075
• Equity at exit: $43,240

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-47,738
• Equity at exit: $25,074

Cash invested: $81,200 (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 23324

• Home prices YoY: -17.3%
• Active inventory: 116
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,284 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$210 /mo · $2,523/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $-47

Break-even live

Break-even rent $2,344

Max offer price $281,613

Occupancy floor 97%

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Waverton Pkwy Chesapeake, VA	2.0–3.0	1.0–2.0	1037	$1,510	$1.46	23d	1	0.49mi
3406 Bainbridge Blvd Chesapeake, VA	4.0	2.5	1792	$2,700	$1.51	23d	1	0.70mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	1d	1	0.71mi
1407 Kay Ave Chesapeake, VA	3.0	1.0	1200	$2,250	$1.88	23d	1	0.71mi
606 Muddy Creek Rd Chesapeake, VA	3.0	2.5	1720	$2,600	$1.51	23d	1	0.76mi
1212 Triple Crown Cir Chesapeake, VA	1.0–2.0	1.0–2.0	965	$2,180	$2.26	1d	24	0.77mi
103 Duffield Pl Chesapeake, VA	3.0	2.0	1372	$2,200	$1.60	23d	1	0.86mi
511 Marc Smiley Rd Chesapeake, VA	2.0	2.5	1450	$2,350	$1.62	1d	1	0.90mi
1416 Cole Dr Chesapeake, VA	3.0	2.0	1732	$2,600	$1.50	23d	1	1.02mi
1947 Candlelight Dr Chesapeake, VA	3.0	2.5	1417	$2,000	$1.41	20d	1	1.23mi

Listing history 21 events

1. 2026-06-02
   status $290,000 Under Contract 24 DOM
2. 2026-06-01
   days on market $290,000 Active 24 DOM
3. 2026-05-31
   days on market $290,000 Active 23 DOM
4. 2026-05-08
   listed $305,000 Active
5. 2018-08-03
   soldstatus $174,900
6. 2018-07-11
   status Under Contract
7. 2018-06-23
   price $174,900
8. 2018-05-18
   price $179,900
9. 2018-05-04
   listed $184,900 Active
10. 2018-02-09
    status Under Contract
11. 2018-02-07
    status Active
12. 2018-01-27
    historical
13. 2018-01-05
    status Active
14. 2017-12-29
    status Under Contract
15. 2017-10-27
    listed $95,000 Active
16. 2017-03-20
    historical
17. 2017-01-04
    price $85,000
18. 2016-11-16
    listed $92,000 Active
19. 2008-08-14
    soldstatus $142,300
20. 2007-12-13
    soldstatus $142,500
21. 2004-01-29
    soldstatus $81,500

ⓘ 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: $2,523 · $210/mo
• Projected year-2 tax: $2,523 · $210/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 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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,409
• − Mortgage interest: −$16,245
• − Property taxes: −$2,523
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,193
• − Management: −$2,193
• − Depreciation: −$8,436
• Taxable loss: −$5,631
• Est. tax savings @ 24.0%: +$1,351
• After-tax cash flow: $782/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: Chesapeake City Public School District
• NCES district ID: 5100810
• Math proficiency: 58% ▼ -29.00%
• Reading proficiency: 74% ▼ -7.00%
• Median HH income: $69,356
• Composite: 57.84/100
• National rank: #1047
• State rank: #31 of 131 in VA

Livability — Chesapeake

• Score: 70/100
• State rank: #236
• US rank: #7942

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chesapeake, VA
• County: Chesapeake City · 253,091 people
• City population: 253,091
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 24,670
• Household income: $57,045
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 1301.0

Population outlook (Chesapeake County) Hauer SSP2

• Today (2025): 263,804 people
• By 2030: 276,798 · +4.9%
• By 2040: 299,906 · +13.7%
• By 2050: 318,284 · +20.7%
• By 2075: 362,137 · +37.3%
• By 2100: 372,225 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 58% White 27% Two or more races 9% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Chesapeake

• 2024 margin: Toss-up / Even · D 51.3% · R 47.5% · Other 1.2%
• 2008→2024 swing: +2.5pp toward D · 2008: 1.3pp · 2024: 3.8pp
• All cycles: 2024: D+3.8 2020: D+6.5 2016: R+1.3 2012: D+1.1 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.73%
• Current HPI: 319.2653
• Rent YoY: —
• 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

+274.2% since first listed

18 events — show timeline

• 2026-05-08 Listed $305,000 REINMLS
• 2018-08-03 Sold (Public Records) $174,900 Public Records
• 2018-07-11 Pending — REINMLS
• 2018-06-23 Price Changed $174,900 REINMLS
• 2018-05-18 Price Changed $179,900 REINMLS
• 2018-05-04 Listed $184,900 REINMLS
• 2018-02-09 Pending — REINMLS
• 2018-02-07 Relisted — REINMLS
• 2018-01-27 Listing Removed — REINMLS
• 2018-01-05 Relisted — REINMLS
• 2017-12-29 Pending — REINMLS
• 2017-10-27 Listed $95,000 REINMLS
• 2017-03-20 Listing Removed — REINMLS
• 2017-01-04 Price Changed $85,000 REINMLS
• 2016-11-16 Listed $92,000 REINMLS
• 2008-08-14 Sold (Public Records) $142,300 Public Records
• 2007-12-13 Sold (Public Records) $142,500 Public Records
• 2004-01-29 Sold (Public Records) $81,500 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,523 · +5.9% YoY. Source: county tax records.