3913 Thalia Trace Ct · Virginia Beach, VA 23452

$220,000

2 bd · 2.0 ba · 981 sqft · Townhouse public records · 69 Days on market

Built 1983 3,306 sqft lot Est $218k · 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 +11.6/30.0
• ARV discount +7.0/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• DSCR +3.4/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Short sale contingent on third party approval. End unit townhouse. Centrally located and nearby to beaches, bases, shopping and interstate. Schedule your showing today!

Key facts

• Nearby to interstate
• Centrally located
• Nearby to shopping

Tags

• END UNIT TOWNHOUSE
• CENTRALLY LOCATED
• NEARBY TO BEACHES
• NEARBY TO SHOPPING
• NEARBY TO INTERSTATE

Property features AI

Finance

• HOA & community: No HOA/association fees

Exterior

• Parking: 4 parking spaces
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Attached townhouse; 2 stories; Slab foundation
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Back yard with privacy wood fence

Interior

• Bedrooms: Bedroom on first floor
• Flooring: Carpet
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: One fireplace; Carpet flooring; First-floor bedroom with full bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $220k.

Deal economics

• At list price, monthly cash flow is $-69 ($-829/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (22.4% below list).
• Recommended offer: $171k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Thalia Elementary (math 57% / reading 72%, grade B, #416 of 1,108 statewide, top 41%, 593 students, 70% FRL); Independence Middle (math 62% / reading 78%, grade A, #80 of 342 statewide, top 24%, 1,189 students, 48% FRL); Princess Anne High (math 76% / reading 89%, grade A, #36 of 319 statewide, top 12%, 1,717 students, 33% FRL) — zoned schools average 50% FRL vs 28% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 232 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $7k 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 69 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% 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 $170,660 (22.4% 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 69 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
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: 0.78% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.35%
• DSCR: 0.94
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $217,782
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
139 Thalia Trace Dr	0.06mi	2/2.0	981 (0%)	0mo	$280,000	$285	97
174 Thalia Trace Dr	0.05mi	2/2.0	981 (0%)	5mo	$235,000	$240	93
153 Greendale Rd	0.17mi	2/2.0	981 (0%)	1mo	$270,000	$275	92
148 Greendale Rd	0.20mi	2/2.0	981 (0%)	4mo	$270,000	$275	87
274 Thalia Trace Dr	0.11mi	2/2.0	1,000 (+2%)	7mo	$219,900	$220	86
4175 Thalia Station Cir #204	0.49mi	2/2.0	957 (-2%)	2mo	$212,000	$222	71
3901 Prominence Pl #201	0.06mi	3/2.0 (+1)	1,071 (+9%)	8mo	$227,000	$212	70
4251 Thalia Station Cir	0.51mi	2/2.0	957 (-2%)	2mo	$210,000	$219	70
3901 Prominence Pl #202	0.06mi	3/2.0 (+1)	1,071 (+9%)	10mo	$225,000	$210	69
145 Happy St	0.16mi	2/1.5	1,084 (+10%)	9mo	$252,500	$233	65
304 Thalia Station Ct	0.42mi	2/1.0	866 (-12%)	2mo	$164,000	$189	55
4178 Thalia Station Cir	0.48mi	2/1.0	866 (-12%)	4mo	$190,000	$219	50

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 · 4.92% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.40×
• Total profit: $-36,728
• Equity at exit: $32,803

10-year hold

• IRR: -5.4%
• Equity multiple: 0.62×
• Total profit: $-23,461
• Equity at exit: $19,022

Cash invested: $61,600 (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 23452

• Rents YoY: 4.9%
• Active inventory: 232
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$172 /mo · $2,063/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-69

Break-even live

Break-even rent $1,794

Max offer price $207,795

Occupancy floor 99%

Sensitivity live

Price	-10% $55	-5% $-7	+0% $-69	+5% $-131	+10% $-194
Rent	-10% $-204	-5% $-137	+0% $-69	+5% $-2	+10% $66
Rate	-1.0pp $42	-0.5pp $-13	base $-69	+0.5pp $-126	+1.0pp $-184

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
176 S Kentucky Ave Virginia Beach, VA	2.0	1.0	874	$1,350	$1.54	6d	1	0.07mi
100 Runaway Bay Dr Virginia Beach, VA	1.0–2.0	1.0–2.0	807	$1,985	$2.46	3d	44	0.20mi
149 S Budding Ave Virginia Beach, VA	1.0–3.0	1.0–2.0	1100	$1,849	$1.68	3d	30	0.53mi
4251 Thalia Station Cir Virginia Beach, VA	2.0	2.0	957	$1,650	$1.72	25d	1	0.54mi
3600 Malibu Palms Dr Virginia Beach, VA	1.0–3.0	1.0–1.5	1025	$1,827	$1.78	4d	19	0.85mi
205 Silverbrook Ln Virginia Beach, VA	2.0	2.0	995	$1,750	$1.76	19d	1	0.90mi
205 Silverbrook Ln Unit 00 405204 Virginia Beach, VA	2.0	2.0	995	$1,800	$1.81	21d	1	0.95mi
4226 Beasley Ct Virginia Beach, VA	2.0	1.5	884	$1,595	$1.80	25d	1	0.98mi
4226 Beasley Ct Virginia Beach, VA	2.0	1.5	884	$1,595	$1.80	16d	1	0.98mi
3955 Marina Lake Rd Virginia Beach, VA	1.0–2.0	1.0–2.0	870	$1,960	$2.25	12d	1	1.07mi
4133 Shoreline Cir Virginia Beach, VA	1.0–2.0	1.0–2.0	964	$2,000	$2.07	12d	1	1.08mi
3416 Alcott Rd Virginia Beach, VA	3.0	1.0	1043	$1,800	$1.73	25d	1	1.18mi
3923 Lake Front Cir Virginia Beach, VA	1.0–2.0	1.0	918	$1,845	$2.01	12d	1	1.21mi
3424 Rainey Rd Virginia Beach, VA	3.0	1.0	1002	$1,995	$1.99	9d	1	1.28mi
124 Palm Beach Pl Virginia Beach, VA	1.0–2.0	1.0	786	$1,475	$1.88	6d	5	1.29mi
4556 Columbus St Virginia Beach, VA	2.0	1.0–2.0	763	$2,626	$3.44	5d	14	1.34mi
3321 Rainier Ct Virginia Beach, VA	2.0	2.5	1100	$1,600	$1.45	23d	1	1.45mi

Listing history 9 events

1. 2026-06-02
   status $220,000 Under Contract 69 DOM
2. 2026-06-01
   days on market $220,000 Active 69 DOM
3. 2026-05-31
   days on market $220,000 Active 68 DOM
4. 2026-05-18
   price $220,000
5. 2026-04-30
   price $230,000
6. 2026-04-20
   price $240,000
7. 2026-03-23
   listed $250,000 Active
8. 2019-12-30
   soldstatus $149,900
9. 1998-06-02
   soldstatus $59,900

ⓘ 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: $2,063 · $172/mo
• Projected year-2 tax: $2,063 · $172/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 (unshaded) · 20% 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 98% 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: $20,479
• − Mortgage interest: −$12,323
• − Property taxes: −$2,063
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$6,400
• Taxable loss: −$4,684
• Est. tax savings @ 24.0%: +$1,124
• After-tax cash flow: $295/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): 58,455
• Household income: $79,085
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2293.0

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 0.59)
• Race & ethnicity: White 60% Black 20% Two or more races 10% Hispanic / Latino 9% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Italian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 88% 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: ▼ -363.80%
• Current HPI: 328.5435
• Rent YoY: ▲ 4.92%
• 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

+267.3% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $220,000 REINMLS
• 2026-04-30 Price Changed $230,000 REINMLS
• 2026-04-20 Price Changed $240,000 REINMLS
• 2026-03-23 Listed $250,000 REINMLS
• 2019-12-30 Sold (Public Records) $149,900 Public Records
• 1998-06-02 Sold (Public Records) $59,900 Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,063 · +10.6% YoY. Source: county tax records.