4170 Captains Corridor · Captains Cove, VA 23356

$274,900

3 bd · 2.0 ba · 1,908 sqft · SingleFamily public records · 157 Days on market

Built 2005 9,583 sqft lot $144/sqft · 8% below area Est $300k · 8% under $150/mo HOA · 7% 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 +12.2/30.0
• ARV discount +11.3/15.0
• Appreciation +5.6/10.0
• Schools +4.3/10.0
• DSCR +3.6/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands.

Key facts

• Park area
• Small beach
• Pool

Tags

• GOLF COURSE
• MARINA
• SMALL BEACH
• POOL
• PARK AREA
• CLOSE TO CHINCOTEAGUE ISLANDS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-56 ($-673/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (17.5% below list).
• Recommended offer: $227k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.5% in Captains Cove — 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 63/100 on livability (#371 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A-, housing A-; Watch: schools F, amenities F, commute F.
• Accomack County Public School District (rural): math 44% / reading 59% proficiency, ranked #99 of 131 in VA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 303 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 181 units permitted in Accomack County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.2% local appreciation)).
• Accomack County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $226,719 (17.5% 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 157 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 10.1

CMA / ARV

• ARV (median comp): $300,023
• List price: $274,900
• Delta: -8.37%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2598 Jolly Rodger Dr	0.33mi	3/2.0	1,875 (-2%)	3mo	$325,000	$173	79
2252 Jolly Rodger Dr	0.30mi	3/2.5	1,860 (-2%)	5mo	$340,000	$183	75
2521 Jolly Rodger Dr	0.22mi	3/2.5	1,760 (-8%)	3mo	$249,000	$141	72
37275 Longboat Ct	0.41mi	3/2.0	2,076 (+9%)	5mo	$327,000	$158	62
37292 Long Boat Ct	0.45mi	3/2.0	2,076 (+9%)	2mo	$360,000	$173	62
37335 Sea Winds Ct	0.38mi	3/2.0	2,128 (+12%)	1mo	$244,000	$115	62
2356 Yardarm Dr	0.60mi	3/2.0	1,992 (+4%)	13mo	$268,000	$135	54
37004 State Line Rd	0.31mi	3/2.0	1,680 (-12%)	15mo	$339,000	$202	53
3902 Captains Corridor	0.48mi	3/2.0	1,668 (-13%)	5mo	$230,000	$138	53
2301 Spinnaker St	0.55mi	3/2.5	1,705 (-11%)	3mo	$338,000	$198	52
2447 Brigantine Blvd	0.62mi	3/2.5	1,668 (-13%)	8mo	$300,000	$180	41
2253 Pike Dr	0.68mi	3/2.5	2,104 (+10%)	15mo	$272,100	$129	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.06×
• Total profit: $4,745
• Equity at exit: $97,222

10-year hold

• IRR: 5.7%
• Equity multiple: 1.72×
• Total profit: $55,110
• Equity at exit: $131,851

Cash invested: $76,972 (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 23356

• Home prices YoY: 0.7%
• Active inventory: 303
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,267 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$141 /mo · $1,692/yr
• Insurance: −$115
• HOA: −$150
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-56

Break-even live

Break-even rent $2,338

Max offer price $264,997

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4155 Captains Corridor Greenbackville, VA	3.0	2.5	2380	$2,400	$1.01	13d	1	0.04mi
3928 Captains Corridor Greenbackville, VA	3.0	2.0	1312	$1,700	$1.30	13d	1	0.45mi
38040 Davey Jones Blvd Greenbackville, VA	3.0	2.0	1300	$2,200	$1.69	13d	1	0.75mi
38019 Fathom Rd Greenbackville, VA	3.0	2.5	1440	$2,000	$1.39	21d	1	1.42mi

HOA detail

• Monthly dues: $150 · $1,800/yr
• Likely covers: pool

Listing history 23 events

1. 2026-06-18
   days on market $274,900 Active 157 DOM
2. 2026-06-17
   days on market $274,900 Active 156 DOM
3. 2026-06-16
   days on market $274,900 Active 155 DOM
4. 2026-06-15
   days on market $274,900 Active 154 DOM
5. 2026-06-15
   days on market $274,900 Active 153 DOM
6. 2026-06-13
   days on market $274,900 Active 152 DOM
7. 2026-06-12
   days on market $274,900 Active 151 DOM
8. 2026-06-09
   days on market $274,900 Active 148 DOM
9. 2026-06-08
   days on market $274,900 Active 147 DOM
10. 2026-06-08
    days on market $274,900 Active 146 DOM
11. 2026-06-07
    days on market $274,900 Active 145 DOM
12. 2026-06-03
    days on market $274,900 Active 142 DOM
13. 2026-06-02
    days on market $274,900 Active 141 DOM
14. 2026-06-01
    days on market $274,900 Active 140 DOM
15. 2026-05-31
    days on market $274,900 Active 139 DOM
16. 2026-04-25
    price $274,900 153-char remark

    Show marketing remark (153 chars)

    Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands.

17. 2026-02-24
    price $299,950 153-char remark

    Show marketing remark (153 chars)

    Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands.

18. 2026-01-13
    listed $299,900 Active 153-char remark

    Show marketing remark (153 chars)

    Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands.

19. 2023-08-29
    status Pending 530-char remark

    Show marketing remark (530 chars)

    Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands. "This property has been placed in an upcoming online event. All bids should be submitted at www. xome.com/auctions (void where prohibited). Any post-auction offers will need to be submitted directly to the listing agent. All properties are subject to a 5% buyer's premium pursuant to the Auction Participation Agreement and Terms & Conditions (minimums will apply).

20. 2023-08-13
    historical 530-char remark

    Show marketing remark (530 chars)

    Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands. "This property has been placed in an upcoming online event. All bids should be submitted at www. xome.com/auctions (void where prohibited). Any post-auction offers will need to be submitted directly to the listing agent. All properties are subject to a 5% buyer's premium pursuant to the Auction Participation Agreement and Terms & Conditions (minimums will apply).

21. 2022-12-06
    historical 530-char remark

    Show marketing remark (530 chars)

    Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands. "This property has been placed in an upcoming online event. All bids should be submitted at www. xome.com/auctions (void where prohibited). Any post-auction offers will need to be submitted directly to the listing agent. All properties are subject to a 5% buyer's premium pursuant to the Auction Participation Agreement and Terms & Conditions (minimums will apply).

22. 2022-04-28
    soldstatus $244,650 Closed 530-char remark

    Show marketing remark (530 chars)

    Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands. "This property has been placed in an upcoming online event. All bids should be submitted at www. xome.com/auctions (void where prohibited). Any post-auction offers will need to be submitted directly to the listing agent. All properties are subject to a 5% buyer's premium pursuant to the Auction Participation Agreement and Terms & Conditions (minimums will apply).

23. 2022-03-24
    listed $259,900 530-char remark

    Show marketing remark (530 chars)

    Home in a nice community with golf course, marina, small beach, pool and park area. Close to Wallops flight facility and Chincoteague/Assateague Islands. "This property has been placed in an upcoming online event. All bids should be submitted at www. xome.com/auctions (void where prohibited). Any post-auction offers will need to be submitted directly to the listing agent. All properties are subject to a 5% buyer's premium pursuant to the Auction Participation Agreement and Terms & Conditions (minimums will apply).

ⓘ 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: $1,692 · $141/mo
• Projected year-2 tax: $2,254 · $188/mo
• Expected delta: +$562/yr (+$47/mo · 33.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $27,206
• − Mortgage interest: −$15,399
• − Property taxes: −$1,692
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,177
• − Management: −$2,177
• − HOA: −$1,800
• − Depreciation: −$7,997
• Taxable loss: −$5,409
• Est. tax savings @ 24.0%: +$1,298
• After-tax cash flow: $625/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: Accomack County Public School District
• NCES district ID: 5100060
• Math proficiency: 44% ▼ -36.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $40,348
• Composite: 43.05/100
• National rank: #3096
• State rank: #99 of 131 in VA

Livability — Captains Cove

• Score: 63/100
• State rank: #371
• US rank: #14910

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Captains Cove, VA
• Population (ZIP): 1,738

Population outlook (Accomack County) Hauer SSP2

• Today (2025): 32,072 people
• By 2030: 31,425 · -2.0%
• By 2040: 29,685 · -7.4%
• By 2050: 27,748 · -13.5%
• By 2075: 23,396 · -27.1%
• By 2100: 18,774 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 9% Slovak 6% Subsaharan African 2%
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Accomack

• 2024 margin: R (+13.3) · D 43.0% · R 56.3%
• 2008→2024 swing: -11.9pp toward R · 2008: -1.4pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+9.4 2016: R+11.7 2012: R+3.5 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.24%
• Current HPI: 191.9035
• Rent YoY: —
• Metro: —
• 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

+5.8% since first listed

8 events — show timeline

• 2026-04-25 Price Changed $274,900 ESAR
• 2026-02-24 Price Changed $299,950 ESAR
• 2026-01-13 Listed $299,900 ESAR
• 2023-08-29 Pending — ESAR
• 2023-08-13 Delisted — ESAR
• 2022-12-06 Delisted — ESAR
• 2022-04-28 Sold (MLS) $244,650 ESAR
• 2022-03-24 Listed $259,900 ESAR

Property tax history

+2.8%/yr

Latest (2025): $1,692 · +10.0% YoY. Source: county tax records.