3017 Herrmann Ct · Virginia Beach, VA 23453

$284,500

3 bd · 2.0 ba · 1,240 sqft · Townhouse public records · 62 Days on market

Built 1973 Est $268k · 6% over $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 +10.1/30.0
• Schools +6.4/10.0
• Rent growth +4.9/5.0
• ARV discount +4.7/15.0
• Livability +4.2/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Updated, end-unit townhome in the heart of Virginia Beach!! Beautifully remodeled kitchen with white cabinetry, SS appliances and a breakfast area!! Oversized, fenced in back yard and a super convenient location to shopping, dining, bases and all things Virginia Beach!! Ready to move right in!!! See this one today before it is SOLD!!!

Key facts

• End-unit townhome
• Remodeled kitchen
• Fenced in back yard

Tags

• END-UNIT TOWNHOME
• REMODELED KITCHEN
• FENCED IN BACK YARD
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: Member of Magic Hollow Community Association; HOA fee $22 monthly

Exterior

• Parking: Driveway with 2 parking spaces
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; 2 stories; Crawl foundation; Simple ownership
• Construction: Vinyl exterior siding; Crawlspace foundation; Asphalt shingle roof
• Exterior features: Corner lot; Back yard with wood fence; Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: One bedroom has an ensuite
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom; Two half bathrooms
• Heating & cooling: Heat pump for heating and cooling; Electric heating; Programmable thermostat
• Interior features: Ceiling fan; Breakfast area; Master bedroom with bath; Utility closet
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $284k.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (26.0% below list).
• Recommended offer: $211k (26.0% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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 fast (+9.7%/yr); 99 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2k of loan paydown is wiped out by about $9k 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 62 days — a 6% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

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 $210,615 (26.0% 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. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.74% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.47%
• DSCR: 0.89
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $267,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1010 Scarborough Ct	0.34mi	3/1.5	1,250 (+1%)	1mo	$235,000	$188	80
3218 Scarborough Way	0.36mi	3/1.5	1,258 (+2%)	2mo	$245,000	$195	77
959 S Club House Rd	0.45mi	3/1.5	1,276 (+3%)	2mo	$244,000	$191	70
3176 Ashaway Rd	0.60mi	3/2.0	1,256 (+1%)	1mo	$345,000	$275	69
965 Clubhouse Rd S	0.44mi	3/1.5	1,320 (+6%)	2mo	$250,000	$189	65
3070 Breslaw Ct	0.09mi	4/2.5 (+1)	1,408 (+14%)	2mo	$243,000	$173	65
3152 Ashaway Rd	0.52mi	3/2.0	1,356 (+9%)	2mo	$342,000	$252	58
1137 Old Clubhouse Rd	0.42mi	2/1.5 (-1)	1,124 (-9%)	3mo	$220,000	$196	55
3234 Creekside Dr	0.42mi	2/2.0 (-1)	1,080 (-13%)	1mo	$260,000	$241	53
3300 Waterman Rd	0.63mi	3/2.0	1,368 (+10%)	2mo	$340,000	$249	52
3320 Waterman Rd	0.67mi	3/2.0	1,386 (+12%)	3mo	$329,500	$238	46
3244 Yorkborough Way	0.70mi	3/2.5	1,386 (+12%)	0mo	$300,000	$216	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.43×
• Total profit: $-45,470
• Equity at exit: $42,420

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-2,601
• Equity at exit: $24,598

Cash invested: $79,660 (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 23453

• Home prices YoY: -13.4%
• Rents YoY: 9.7%
• Active inventory: 99
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,106 high
• Mortgage (P&I): −$1,492
• Tax from tax record: −$195 /mo · $2,344/yr
• Insurance: −$119
• HOA: −$22
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $-164

Break-even live

Break-even rent $2,314

Max offer price $255,527

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: $71,125
• Closing costs: $8,535
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2925 Theodorus Ct Virginia Beach, VA	3.0	1.5	1120	$2,000	$1.79	4d	1	0.19mi
2908 Peppercorn Ct Virginia Beach, VA	4.0	1.5	1381	$2,295	$1.66	23d	1	0.23mi
932 Gossman Dr Virginia Beach, VA	3.0	1.5	1430	$2,300	$1.61	21d	1	0.24mi
1232 White Birch Ln Virginia Beach, VA	3.0	2.0	1254	$2,095	$1.67	23d	1	0.87mi
1240 White Birch Ln Virginia Beach, VA	3.0	1.5	1254	$1,950	$1.56	17d	1	0.88mi
3304 Weeping Willow Ln Virginia Beach, VA	3.0	1.5	1254	$1,750	$1.40	23d	1	0.89mi
1027 Tivoli Cres Virginia Beach, VA	1.0–2.0	1.0	787	$1,573	$2.00	23d	1	0.92mi
1257 Green Cedar Ln Virginia Beach, VA	2.0	1.5	950	$1,725	$1.82	7d	1	1.00mi
3745 Edenberry Ct Virginia Beach, VA	2.0	2.0	1044	$1,899	$1.82	4d	1	1.14mi
3500 Green Garden Cir Virginia Beach, VA	2.0	1.0	980	$1,685	$1.72	23d	1	1.16mi
3416 Hollygreen Dr Virginia Beach, VA	2.0	1.0	960	$1,754	$1.83	23d	5	1.16mi
1301 Pine Cone Cir Virginia Beach, VA	1.0–3.0	1.0–2.0	827	$2,170	$2.62	1d	13	1.18mi
3517 Plum Cres Virginia Beach, VA	3.0	2.0	1450	$2,200	$1.52	12d	1	1.26mi
2914 Lyme Regis Quay Virginia Beach, VA	2.0	2.0	1057	$1,700	$1.61	23d	1	1.33mi
526 Pheasant Run Virginia Beach, VA	2.0	2.0	1057	$1,800	$1.70	23d	1	1.34mi
713 Willow Lake Cir Virginia Beach, VA	1.0–2.0	1.0–2.0	1041	$2,475	$2.38	23d	1	1.34mi
2933 Lyme Regis Quay Virginia Beach, VA	2.0	2.0	1032	$1,700	$1.65	23d	1	1.38mi
666 Rivers Reach Virginia Beach, VA	2.0	2.0	1032	$1,600	$1.55	14d	1	1.39mi
526 Glenn Regis Way Virginia Beach, VA	2.0	2.0	969	$1,799	$1.86	3d	1	1.40mi
1434 Peony Arch Virginia Beach, VA	3.0	2.0	1407	$2,600	$1.85	23d	1	1.50mi

HOA detail

• Monthly dues: $22 · $264/yr

Listing history 28 events

1. 2026-06-18
   days on market $284,500 Active 62 DOM
2. 2026-06-17
   days on market $284,500 Active 61 DOM
3. 2026-06-16
   days on market $284,500 Active 60 DOM
4. 2026-06-15
   days on market $284,500 Active 59 DOM
5. 2026-06-13
   days on market $284,500 Active 57 DOM
6. 2026-06-09
   days on market $284,500 Active 53 DOM
7. 2026-06-08
   days on market $284,500 Active 52 DOM
8. 2026-06-08
   pricestatus $284,500 Active 51 DOM
9. 2026-06-07
   days on market $285,000 Active Under Contract 51 DOM
10. 2026-06-03
    days on market $285,000 Active Under Contract 47 DOM
11. 2026-06-02
    days on market $285,000 Active Under Contract 46 DOM
12. 2026-06-01
    days on market $285,000 Active Under Contract 45 DOM
13. 2026-05-31
    days on market $285,000 Active Under Contract 44 DOM
14. 2026-05-22
    historical Active Under Contract
15. 2026-05-02
    price $285,000
16. 2026-04-17
    listed $289,500 Active
17. 2024-03-13
    soldstatus $260,000
18. 2024-02-16
    status Under Contract
19. 2024-02-03
    historical Active Under Contract
20. 2024-02-02
    status Active
21. 2024-01-18
    historical Active Under Contract
22. 2024-01-12
    listed $249,900 Active
23. 2022-09-17
    historical
24. 2022-09-16
    soldstatus $236,000
25. 2022-08-20
    status Under Contract
26. 2022-08-16
    historical Active Under Contract
27. 2022-08-12
    listed $225,000 Active
28. 2013-11-08
    soldstatus $118,800

ⓘ 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: $2,344 · $195/mo
• Projected year-2 tax: $2,344 · $195/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 3/10 Moderate FEMA zone X (shaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $25,274
• − Mortgage interest: −$15,936
• − Property taxes: −$2,344
• − Insurance: −$1,422
• − Repairs & maintenance: −$2,022
• − Management: −$2,022
• − HOA: −$264
• − Depreciation: −$8,276
• Taxable loss: −$7,014
• Est. tax savings @ 24.0%: +$1,683
• After-tax cash flow: $-285/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): 34,482
• Household income: $93,838
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 799.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 46% Black 22% Two or more races 14% Asian 12% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 2% Romanian 2% Italian 1%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 84% English-only · Tagalog/Filipino 6% Spanish 5% Other Indo-European 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: ▼ -52.96%
• Current HPI: 341.8757
• Rent YoY: ▲ 9.69%
• 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

+139.9% since first listed

15 events — show timeline

• 2026-05-22 Contingent — REINMLS
• 2026-05-02 Price Changed $285,000 REINMLS
• 2026-04-17 Listed $289,500 REINMLS
• 2024-03-13 Sold (Public Records) $260,000 Public Records
• 2024-02-16 Pending — REINMLS
• 2024-02-03 Contingent — REINMLS
• 2024-02-02 Relisted — REINMLS
• 2024-01-18 Contingent — REINMLS
• 2024-01-12 Listed $249,900 REINMLS
• 2022-09-17 Listing Removed — REINMLS
• 2022-09-16 Sold (Public Records) $236,000 Public Records
• 2022-08-20 Pending — REINMLS
• 2022-08-16 Contingent — REINMLS
• 2022-08-12 Listed $225,000 REINMLS
• 2013-11-08 Sold (Public Records) $118,800 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,344 · +14.0% YoY. Source: county tax records.