2401 Timber Run · Virginia Beach, VA 23456

$435,000

4 bd · 3.0 ba · 1,954 sqft · Condo public records · 40 Days on market

Built 1996 $180/mo HOA · 5% 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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• DSCR +3.5/10.0
• Rent growth +3.4/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully maintained 4-bedroom, 3 full bath home on a desirable corner lot offering nearly 2,000 sqft of accommodating living space! This home features two primary suites, including a highly sought-after first-floor bedroom with full bath—ideal for guests or flexible living needs. & #160; Enjoy a functional layout with a wet bar and direct access to the backyard, perfect for entertaining. Outdoor living shines with two gazebos equipped with ceiling fans and lighting, a storage shed, and a 220-volt outlet ready for additional outdoor enhancements. Oversized 2-car garage. & #160; This move-in ready home is conveniently located near shopping, dining, and major routes. Don&rsquo

Key facts

• $180 HOA
• 3 garage spots
• Built 1996

Property features AI

Finance

• HOA & community: COURTHOUSE WOODS CONDO ASSOCIATION; Managed by Sentry Management; Association dues $180 monthly; No separate condo fee listed

Exterior

• Parking: Attached garage for 3+ cars; 2 additional parking spaces; Off-street parking; Street parking
• Utilities: City/County water; City/County sewer; Electric power
• Home design: Detached condo; Contemporary style; Two stories; Slab foundation
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Corner lot; Deck; Wooded view; Back privacy wood fence

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator; Breakfast area
• Bedrooms: Two bedrooms with ensuite; Bedroom and full bathroom on first floor; Master bedroom with bath; In-law suite
• Flooring: Carpet; Concrete; Laminate; Vinyl; Wood
• Bathrooms: Three full bathrooms
• Heating & cooling: Central air conditioning; Electric heating; Natural gas heating; Gas water heater
• Interior features: Cathedral ceiling; Gas fireplace; Cable hookup; Ceiling fan; Garage door opener; Walk-in closet
• Laundry & utility: Washer/dryer hookups (laundry details not specified)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $435k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $413k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $359k (17.4% below list).
• Recommended offer: $359k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: North Landing Elementary (math 87% / reading 92%, grade A+, #19 of 1,108 statewide, top 2%, 455 students, 16% FRL); Landstown Middle (math 64% / reading 81%, grade A, #61 of 342 statewide, top 18%, 1,278 students, 41% FRL); Floyd Kellam High (math 83% / reading 93%, grade A, #13 of 319 statewide, top 4%, 1,882 students, 14% FRL) — zoned schools at 23% FRL track the district average.
• Market conditions: Rents rising (+3.8%/yr); 367 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).
• This rent runs 33% of the median local income ($131k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 40 days — a 3% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $293k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 94% 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 $359,284 (17.4% 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 40 days. Have you received any prior offers? Is the seller open to a 17% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.22%
• DSCR: 0.95
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.38×
• Total profit: $-75,494
• Equity at exit: $64,860

10-year hold

• IRR: -8.1%
• Equity multiple: 0.48×
• Total profit: $-63,922
• Equity at exit: $37,611

Cash invested: $121,800 (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 23456

• Rents YoY: 3.8%
• Active inventory: 367
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $3,593 medium
• Mortgage (P&I): −$2,281
• Tax from tax record: −$320 /mo · $3,834/yr
• Insurance: −$181
• HOA: −$180
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $-124

Break-even live

Break-even rent $3,749

Max offer price $413,160

Occupancy floor 98%

Sensitivity live

Price	-10% $123	-5% $-1	+0% $-124	+5% $-247	+10% $-370
Rent	-10% $-407	-5% $-266	+0% $-124	+5% $18	+10% $160
Rate	-1.0pp $95	-0.5pp $-13	base $-124	+0.5pp $-236	+1.0pp $-351

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: $108,750
• Closing costs: $13,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3305 Fayette Dr Virginia Beach, VA	5.0	2.5	2510	$3,595	$1.43	9d	1	0.70mi
3016 Beaden Dr Virginia Beach, VA	4.0	2.5	2350	$3,150	$1.34	14d	1	0.81mi
2925 Beaden Dr Virginia Beach, VA	4.0	2.5	2175	$3,400	$1.56	25d	1	0.81mi

HOA detail condo

• Monthly dues: $180 · $2,160/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-05-18
   status Under Contract
2. 2026-05-11
   historical Active Under Contract
3. 2026-05-06
   price $435,000
4. 2026-05-06
   status Active
5. 2026-04-20
   historical Active Under Contract
6. 2026-04-07
   listed $440,000 Active
7. 2019-09-13
   soldstatus $293,000
8. 2019-07-07
   status Under Contract
9. 2019-06-19
   price $293,000
10. 2019-05-16
    status Active
11. 2019-05-07
    status Under Contract
12. 2019-04-29
    price $295,000
13. 2019-04-16
    status Active
14. 2019-04-03
    status Under Contract
15. 2019-03-22
    listed $297,000 Active

ⓘ 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: $3,834 · $320/mo
• Projected year-2 tax: $3,834 · $320/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 94% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,114
• − Mortgage interest: −$24,367
• − Property taxes: −$3,834
• − Insurance: −$2,175
• − Repairs & maintenance: −$3,449
• − Management: −$3,449
• − HOA: −$2,160
• − Depreciation: −$12,655
• Taxable loss: −$8,975
• Est. tax savings @ 24.0%: +$2,154
• After-tax cash flow: $670/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): 61,911
• Household income: $130,533
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 390.0

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 0.60)
• Race & ethnicity: White 60% Black 13% Asian 12% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 85% English-only · Tagalog/Filipino 4% Spanish 4% Other Indo-European 2%

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: ▼ -328.17%
• Current HPI: 318.3094
• Rent YoY: ▲ 3.78%
• 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

+46.5% since first listed

15 events — show timeline

• 2026-05-18 Pending — REINMLS
• 2026-05-11 Contingent — REINMLS
• 2026-05-06 Price Changed $435,000 REINMLS
• 2026-05-06 Relisted — REINMLS
• 2026-04-20 Contingent — REINMLS
• 2026-04-07 Listed $440,000 REINMLS
• 2019-09-13 Sold (Public Records) $293,000 Public Records
• 2019-07-07 Pending — REINMLS
• 2019-06-19 Price Changed $293,000 REINMLS
• 2019-05-16 Relisted — REINMLS
• 2019-05-07 Pending — REINMLS
• 2019-04-29 Price Changed $295,000 REINMLS
• 2019-04-16 Relisted — REINMLS
• 2019-04-03 Pending — REINMLS
• 2019-03-22 Listed $297,000 REINMLS

Property tax history

+4.0%/yr

Latest (2025): $3,834 · +3.9% YoY. Source: county tax records.