230 Lafayette Ave · Colonial Heights, VA 23834

$177,500

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 34 Days on market

Built 1922 4,356 sqft lot $176/sqft · 28% below area Est $219k · 19% under

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Why this score? — see what drove the C- 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 +15.4/30.0
• ARV discount +15.0/15.0
• Schools +4.9/10.0
• DSCR +4.7/10.0
• Rent growth +4.4/5.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Interior recently painted. Just redid the bath. Lots of kitchen cabinets, 2 ceiling fans down, 1 ceiling fan up. Refrigerator, washer, dryer, microwave, range, window units all 'as is'. Gas heat, utility building with electricity.

Key facts

• 4,356 sq ft lot
• Built 1922
• Listed 34 days

Property features AI

Finance

• Other: Approximately 893 above-grade finished area

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story home; Resale property; R2 zoning
• Construction: Aluminum siding and frame construction with plaster; Metal roof; Crawl space foundation; Built prior to current assessment (year built: actual)
• Exterior features: Front porch

Interior

• Kitchen: Electric cooking
• Bedrooms: Bedrooms located on first level
• Flooring: Wood flooring; Linoleum flooring
• Bathrooms: 1 full bathroom with tub & shower
• Heating & cooling: Forced air heating (natural gas); Window unit cooling
• Interior features: Ceiling fan(s); Separate/formal dining room
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $69 ($829/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 $157k (11.7% below list).
• Recommended offer: $157k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.2% in Colonial Heights — 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 74/100 on livability (#146 in VA, #4,726 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D, crime F.
• Colonial Heights City Public School District (suburban): math 52% / reading 64% proficiency, ranked #67 of 131 in VA (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.5%/yr); 124 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 17 units permitted in Colonial Heights city in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Colonial Heights County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 42% 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 $156,670 (11.7% below list)

Questions for the listing agent

1. It's been on market 34 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 1922 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.88% ✗
• Cap rate: 6.76%
• Cash-on-cash: 1.67%
• DSCR: 1.07
• GRM: 9.4

CMA / ARV

• ARV (median comp): $219,099
• List price: $177,500
• Delta: -18.99%
• 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
234 Battery Pl	0.27mi	3/1.0	990 (-2%)	1mo	$227,650	$230	83
228 Washington Ave	0.36mi	3/1.5	999 (-1%)	4mo	$250,000	$250	76
231 Cameron Ave	0.15mi	2/1.0 (-1)	1,078 (+7%)	6mo	$210,000	$195	72
131 W Westover Ave	0.46mi	3/1.5	987 (-2%)	3mo	$270,000	$274	71
514 Battery Pl	0.34mi	3/1.0	960 (-5%)	8mo	$233,000	$243	70
1111 Shuford Ave	0.44mi	3/1.0	944 (-6%)	1mo	$250,000	$265	68
706 Floral Ave	0.31mi	2/1.0 (-1)	930 (-8%)	1mo	$189,000	$203	67
202 Maple Ln	0.40mi	2/1.0 (-1)	1,048 (+4%)	7mo	$196,000	$187	63
914 Kensington	0.45mi	2/1.0 (-1)	973 (-4%)	7mo	$210,000	$216	62
510 Chestnut Ave	0.53mi	3/1.0	900 (-11%)	2mo	$220,500	$245	56
169 Piedmont Ave	0.52mi	2/1.0 (-1)	1,064 (+6%)	8mo	$215,000	$202	55
221 Piedmont Ave	0.65mi	2/1.0 (-1)	936 (-7%)	1mo	$181,500	$194	52

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 · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.66×
• Total profit: $-16,958
• Equity at exit: $26,466

10-year hold

• IRR: 5.5%
• Equity multiple: 1.49×
• Total profit: $24,247
• Equity at exit: $15,347

Cash invested: $49,700 (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 23834

• Rents YoY: 7.5%
• Active inventory: 124
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,567 high
• Mortgage (P&I): −$931
• Tax from tax record: −$164 /mo · $1,966/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $69

Break-even live

Break-even rent $1,479

Max offer price $177,500

Occupancy floor 91%

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: $44,375
• Closing costs: $5,325
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Lee Ave Colonial Heights, VA	2.0	1.5	1088	$1,750	$1.61	23d	1	0.12mi
707 Hamilton Ave Colonial Heights, VA	2.0	1.0	999	$1,325	$1.33	11d	1	0.24mi
500 Floral Ave Colonial Heights, VA	3.0	2.0	1196	$1,895	$1.58	23d	1	0.26mi
815 Floral Ave Colonial Heights, VA	3.0	1.0	908	$1,500	$1.65	20d	1	0.38mi
406 Bradsher Ave Unit A Colonial Heights, VA	2.0	1.0	940	$1,050	$1.12	23d	1	0.44mi
1118 Jett Ave Colonial Heights, VA	2.0	1.0	780	$1,400	$1.79	11d	1	0.45mi
147 Witten St Petersburg, VA	3.0	1.0	1170	$1,495	$1.28	10d	1	0.64mi
1500 Concord Ave Unit 02 02 Colonial Heights, VA	2.0	1.5	915	$1,300	$1.42	1d	1	0.82mi
1400 Branders Bridge Rd Colonial Heights, VA	2.0	1.0–1.5	1034	$1,132	$1.09	1d	1	0.93mi
250 E Bank St Petersburg, VA	2.0	1.0–2.0	862	$1,509	$1.75	1d	19	1.00mi
20304 Loyal Ave South Chesterfield, VA	3.0	1.0	991	$1,650	$1.66	20d	1	1.01mi
30 Franklin St Petersburg, VA	2.0	1.0–2.0	755	$1,550	$2.05	19d	1	1.16mi
3301 Main St Unit A South Chesterfield, VA	2.0	1.0	990	$1,150	$1.16	1d	1	1.18mi
9 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	721	$1,350	$1.87	17d	6	1.25mi
714 High St Apt E Petersburg, VA	2.0	2.0	924	$1,300	$1.41	21d	1	1.29mi
16 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	769	$2,312	$3.01	1d	17	1.29mi
212 E Wythe St Unit 1 Petersburg, VA	4.0	1.5	1400	$1,295	$0.93	23d	1	1.32mi
212 E Wythe St Unit 1 Petersburg, VA	4.0	1.5	1400	$1,295	$0.93	43d	1	1.32mi
3716 Totty St South Chesterfield, VA	3.0	1.0	1092	$1,700	$1.56	43d	1	1.37mi
127 Newcastle Dr Colonial Heights, VA	2.0	1.5	1025	$1,325	$1.29	23d	1	1.38mi
214 N Dunlop St Petersburg, VA	1.0–2.0	1.0–2.0	799	$1,395	$1.74	1d	11	1.38mi
214 N Dunlop St Unit 404 Petersburg, VA	2.0	2.0	863	$1,400	$1.62	43d	1	1.38mi
214 N Dunlop St Apt 305 Petersburg, VA	2.0	2.0	945	$1,350	$1.43	44d	1	1.38mi
214 N Dunlop St Unit 119 Petersburg, VA	2.0	2.0	988	$1,399	$1.42	43d	1	1.38mi
109 Perry St Petersburg, VA	1.0–2.0	1.0–2.0	787	$1,577	$2.00	2d	15	1.39mi
107 New Castle Dr Colonial Heights, VA	2.0	1.5	1025	$1,325	$1.29	11d	1	1.40mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	745	$1,395	$1.87	1d	8	1.40mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	834	$1,399	$1.68	19d	2	1.40mi
712 W Washington St Unit B Petersburg, VA	2.0	1.0	1209	$1,250	$1.03	23d	1	1.43mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	775	$1,310	$1.69	21d	2	1.44mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	797	$1,395	$1.75	14d	9	1.44mi
214 N Dunlop St Unit 400 Petersburg, VA	2.0	2.0	892	$1,500	$1.68	43d	1	1.48mi

Listing history 24 events

1. 2026-06-18
   days on market $177,500 Active 34 DOM
2. 2026-06-17
   days on market $177,500 Active 33 DOM
3. 2026-06-16
   days on market $177,500 Active 32 DOM
4. 2026-06-15
   days on market $177,500 Active 31 DOM
5. 2026-06-13
   days on market $177,500 Active 29 DOM
6. 2026-06-09
   days on market $177,500 Active 25 DOM
7. 2026-06-08
   days on market $177,500 Active 24 DOM
8. 2026-06-07
   pricedays on market $177,500 Active 23 DOM
9. 2026-06-03
   days on market $187,500 Active 19 DOM
10. 2026-06-02
    days on market $187,500 Active 18 DOM
11. 2026-06-01
    days on market $187,500 Active 17 DOM
12. 2026-05-31
    days on market $187,500 Active 16 DOM
13. 2026-05-14
    status Pending 1137-char remark
14. 2026-05-07
    listed $187,500 Active 1137-char remark
15. 2026-04-28
    historical $187,500 1137-char remark
16. 2024-11-18
    soldstatus $155,000
17. 2024-10-09
    historical
18. 2024-10-04
    listed $175,000 Active
19. 2004-06-28
    soldstatus $67,000
20. 2004-06-25
    soldstatus $67,000

    Show marketing remark (230 chars)

    Interior recently painted. Just redid the bath. Lots of kitchen cabinets, 2 ceiling fans down, 1 ceiling fan up. Refrigerator, washer, dryer, microwave, range, window units all 'as is'. Gas heat, utility building with electricity.

21. 2004-06-25
    soldstatus $67,000

    Show marketing remark (230 chars)

    Interior recently painted. Just redid the bath. Lots of kitchen cabinets, 2 ceiling fans down, 1 ceiling fan up. Refrigerator, washer, dryer, microwave, range, window units all 'as is'. Gas heat, utility building with electricity.

22. 2004-05-01
    listed $69,900

    Show marketing remark (230 chars)

    Interior recently painted. Just redid the bath. Lots of kitchen cabinets, 2 ceiling fans down, 1 ceiling fan up. Refrigerator, washer, dryer, microwave, range, window units all 'as is'. Gas heat, utility building with electricity.

23. 2004-05-01
    listed $69,900

    Show marketing remark (230 chars)

    Interior recently painted. Just redid the bath. Lots of kitchen cabinets, 2 ceiling fans down, 1 ceiling fan up. Refrigerator, washer, dryer, microwave, range, window units all 'as is'. Gas heat, utility building with electricity.

24. 1997-09-03
    soldstatus $102,400

ⓘ 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: $1,966 · $164/mo
• Projected year-2 tax: $1,966 · $164/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 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% 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: $18,800
• − Mortgage interest: −$9,943
• − Property taxes: −$1,966
• − Insurance: −$888
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$5,164
• Taxable loss: −$2,167
• Est. tax savings @ 24.0%: +$520
• After-tax cash flow: $1,349/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: Colonial Heights City Public School District
• NCES district ID: 5100960
• Math proficiency: 52% ▼ -31.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $50,368
• Composite: 49.41/100
• National rank: #2011
• State rank: #67 of 131 in VA

Livability — Colonial Heights

• Score: 74/100
• State rank: #146
• US rank: #4726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colonial Heights, VA
• County: Chesterfield County · 406,988 people
• City population: 26,628
• Metro: Richmond, VA
• Population (ZIP): 26,628
• Household income: $84,338
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 814.0

Population outlook (Colonial Heights County) Hauer SSP2

• Today (2025): 18,627 people
• By 2030: 19,110 · +2.6%
• By 2040: 20,215 · +8.5%
• By 2050: 21,424 · +15.0%
• By 2075: 24,692 · +32.6%
• By 2100: 26,164 · +40.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 22% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Korean 1%

Political lean MEDSL · Colonial Heights

• 2024 margin: Solid R (+32.5) · D 33.4% · R 65.8%
• 2008→2024 swing: +8.2pp toward D · 2008: -40.7pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+33.2 2016: R+39.3 2012: R+39.5 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -212.28%
• Current HPI: 294.4478
• Rent YoY: ▲ 7.50%
• 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

+73.3% since first listed

14 events — show timeline

• 2026-06-05 Price Changed $177,500 CVRMLS
• 2026-05-23 Relisted — CVRMLS
• 2026-05-14 Pending — CVRMLS
• 2026-05-07 Listed $187,500 CVRMLS
• 2026-04-28 Coming Soon $187,500 CVRMLS
• 2024-11-18 Sold (Public Records) $155,000 Public Records
• 2024-10-09 Listing Removed — BRIGHT MLS
• 2024-10-04 Listed $175,000 BRIGHT MLS
• 2004-06-28 Sold (Public Records) $67,000 Public Records
• 2004-06-25 Sold (MLS) $67,000 CVRMLS
• 2004-06-25 Sold (MLS) $67,000 CVRMLS
• 2004-05-01 Listed $69,900 CVRMLS
• 2004-05-01 Listed $69,900 CVRMLS
• 1997-09-03 Sold (Public Records) $102,400 Public Records

Property tax history

+4.8%/yr

Latest (2026): $1,966 · +14.6% YoY. Source: county tax records.