824 Wesley Ln Unit B · Hollymead, VA 22911

$399,000

3 bd · 2.5 ba · 2,451 sqft · Condo public records · 1 Days on market

Built 2022 $219/mo HOA · 7% of rent

---

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 +9.3/30.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to spend more time relaxing and doing the things you enjoy most? Step into this move in ready, low maintenance condo. No yard work or exterior maintenance required, allowing you to spend more time doing the things you love. This condo boasts an open living space complete with eat in kitchen on the main level perfect for entertaining or spending time with family. Head upstairs to the large primary bedroom, complete with modern ensuite bath. Have pets? These pet friendly condos also offer newly installed pet stations with more stations being installed soon! Located minutes from the Charlottesville-Albemarle Airport and various dining and shopping opportunities. Contact your favorite Realtor and schedule a showing today!

Key facts

• $219 HOA
• Garage
• Built 2022

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $348k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $317k (20.6% below list).
• Recommended offer: $317k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.8% in Hollymead — 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 68/100 on livability (#271 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: schools D+, amenities F, commute F.
• Albemarle County Public School District (rural): math 66% / reading 77% proficiency, ranked #14 of 131 in VA (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising fast (+4.0%/yr); 303 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 810 units permitted in Albemarle County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Albemarle County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $21k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $316,930 (20.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 0.79% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.11%
• DSCR: 0.86
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.04% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.29×
• Total profit: $-79,677
• Equity at exit: $59,492

10-year hold

• IRR: -11.2%
• Equity multiple: 0.29×
• Total profit: $-78,801
• Equity at exit: $34,498

Cash invested: $111,720 (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 22911

• Rents YoY: 4.0%
• Active inventory: 303
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,169 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$316 /mo · $3,788/yr
• Insurance: −$166
• HOA: −$219
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $-290

Break-even live

Break-even rent $3,536

Max offer price $347,848

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1236 Raintree Dr Charlottesville, VA	4.0	4.0	2524	$3,595	$1.42	44d	1	1.39mi
1664 Redington Ln Charlottesville, VA	4.0	2.5	2556	$3,250	$1.27	44d	1	1.41mi

HOA detail condo

• Monthly dues: $219 · $2,628/yr
• Likely covers: exterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-19
   days on marketlisting id $399,000 Active 1 DOM
2. 2026-06-13
   days on market $399,000 Active 237 DOM
3. 2026-06-10
   days on market $399,000 Active 235 DOM
4. 2026-06-09
   days on market $399,000 Active 234 DOM
5. 2026-06-08
   days on market $399,000 Active 233 DOM
6. 2026-06-07
   days on market $399,000 Active 232 DOM
7. 2026-06-03
   days on market $399,000 Active 228 DOM
8. 2026-06-02
   days on market $399,000 Active 227 DOM
9. 2026-06-01
   days on market $399,000 Active 226 DOM
10. 2026-05-31
    days on market $399,000 Active 225 DOM
11. 2026-05-30
    days on market $399,000 Active 224 DOM
12. 2026-03-11
    status Active 733-char remark

    Show marketing remark (733 chars)

    Ready to spend more time relaxing and doing the things you enjoy most? Step into this move in ready, low maintenance condo. No yard work or exterior maintenance required, allowing you to spend more time doing the things you love. This condo boasts an open living space complete with eat in kitchen on the main level perfect for entertaining or spending time with family. Head upstairs to the large primary bedroom, complete with modern ensuite bath. Have pets? These pet friendly condos also offer newly installed pet stations with more stations being installed soon! Located minutes from the Charlottesville-Albemarle Airport and various dining and shopping opportunities. Contact your favorite Realtor and schedule a showing today!

13. 2026-02-20
    status Pending 733-char remark

    Show marketing remark (733 chars)

    Ready to spend more time relaxing and doing the things you enjoy most? Step into this move in ready, low maintenance condo. No yard work or exterior maintenance required, allowing you to spend more time doing the things you love. This condo boasts an open living space complete with eat in kitchen on the main level perfect for entertaining or spending time with family. Head upstairs to the large primary bedroom, complete with modern ensuite bath. Have pets? These pet friendly condos also offer newly installed pet stations with more stations being installed soon! Located minutes from the Charlottesville-Albemarle Airport and various dining and shopping opportunities. Contact your favorite Realtor and schedule a showing today!

14. 2025-11-11
    price $399,000 733-char remark

    Show marketing remark (733 chars)

    Ready to spend more time relaxing and doing the things you enjoy most? Step into this move in ready, low maintenance condo. No yard work or exterior maintenance required, allowing you to spend more time doing the things you love. This condo boasts an open living space complete with eat in kitchen on the main level perfect for entertaining or spending time with family. Head upstairs to the large primary bedroom, complete with modern ensuite bath. Have pets? These pet friendly condos also offer newly installed pet stations with more stations being installed soon! Located minutes from the Charlottesville-Albemarle Airport and various dining and shopping opportunities. Contact your favorite Realtor and schedule a showing today!

15. 2025-11-03
    price $410,000 733-char remark

    Show marketing remark (733 chars)

    Ready to spend more time relaxing and doing the things you enjoy most? Step into this move in ready, low maintenance condo. No yard work or exterior maintenance required, allowing you to spend more time doing the things you love. This condo boasts an open living space complete with eat in kitchen on the main level perfect for entertaining or spending time with family. Head upstairs to the large primary bedroom, complete with modern ensuite bath. Have pets? These pet friendly condos also offer newly installed pet stations with more stations being installed soon! Located minutes from the Charlottesville-Albemarle Airport and various dining and shopping opportunities. Contact your favorite Realtor and schedule a showing today!

16. 2025-09-29
    listed $420,000 Active 733-char remark

    Show marketing remark (733 chars)

    Ready to spend more time relaxing and doing the things you enjoy most? Step into this move in ready, low maintenance condo. No yard work or exterior maintenance required, allowing you to spend more time doing the things you love. This condo boasts an open living space complete with eat in kitchen on the main level perfect for entertaining or spending time with family. Head upstairs to the large primary bedroom, complete with modern ensuite bath. Have pets? These pet friendly condos also offer newly installed pet stations with more stations being installed soon! Located minutes from the Charlottesville-Albemarle Airport and various dining and shopping opportunities. Contact your favorite Realtor and schedule a showing today!

17. 2022-10-25
    soldstatus $395,125 Sold 660-char remark

    Show marketing remark (660 chars)

    Welcome Home to Brookhill Commons. Just Release For Sale! Fall Delivery Our unique and exciting 2 over 2 condominiums are the first of their kind to be offered in Charlottesville. Wake up to coffee in the morning or a delightful glass of wine in the evening on large covered porch. A spacious and well appointed Kitchen serves as the command center for all your delicious meal and entertaining needs. A refreshing end of the day awaits you in your owners suite. Super large walk-in closet, huge bathroom w/ oversized shower and separate vanities complete this very well designed home. Broker/Agent Co-op Commission split percentage paid on base price.

18. 2022-05-18
    status Pending 660-char remark

    Show marketing remark (660 chars)

    Welcome Home to Brookhill Commons. Just Release For Sale! Fall Delivery Our unique and exciting 2 over 2 condominiums are the first of their kind to be offered in Charlottesville. Wake up to coffee in the morning or a delightful glass of wine in the evening on large covered porch. A spacious and well appointed Kitchen serves as the command center for all your delicious meal and entertaining needs. A refreshing end of the day awaits you in your owners suite. Super large walk-in closet, huge bathroom w/ oversized shower and separate vanities complete this very well designed home. Broker/Agent Co-op Commission split percentage paid on base price.

19. 2022-05-04
    listed $402,220 Active 660-char remark

    Show marketing remark (660 chars)

    Welcome Home to Brookhill Commons. Just Release For Sale! Fall Delivery Our unique and exciting 2 over 2 condominiums are the first of their kind to be offered in Charlottesville. Wake up to coffee in the morning or a delightful glass of wine in the evening on large covered porch. A spacious and well appointed Kitchen serves as the command center for all your delicious meal and entertaining needs. A refreshing end of the day awaits you in your owners suite. Super large walk-in closet, huge bathroom w/ oversized shower and separate vanities complete this very well designed home. Broker/Agent Co-op Commission split percentage paid on base price.

ⓘ 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: $3,788 · $316/mo
• Projected year-2 tax: $3,788 · $316/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,032
• − Mortgage interest: −$22,350
• − Property taxes: −$3,788
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,043
• − Management: −$3,043
• − HOA: −$2,628
• − Depreciation: −$11,607
• Taxable loss: −$10,422
• Est. tax savings @ 24.0%: +$2,501
• After-tax cash flow: $-973/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: Albemarle County Public School District
• NCES district ID: 5100090
• Math proficiency: 66% ▼ -16.00%
• Reading proficiency: 77% ▼ -2.00%
• Median HH income: $67,851
• Composite: 62.28/100
• National rank: #698
• State rank: #14 of 131 in VA

Livability — Hollymead

• Score: 68/100
• State rank: #271
• US rank: #9656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hollymead, VA
• County: Albemarle County · 129,350 people
• Metro: Charlottesville, VA
• Population (ZIP): 19,107
• Household income: $128,235
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 532.0

Population outlook (Albemarle County) Hauer SSP2

• Today (2025): 119,403 people
• By 2030: 125,829 · +5.4%
• By 2040: 137,705 · +15.3%
• By 2050: 148,058 · +24.0%
• By 2075: 172,223 · +44.2%
• By 2100: 185,628 · +55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 8% Black 7% Asian 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 3% Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Albemarle

• 2024 margin: Solid D (+34.1) · D 66.3% · R 32.2% · Other 1.4%
• 2008→2024 swing: +16.1pp toward D · 2008: 18.0pp · 2024: 34.1pp
• All cycles: 2024: D+34.1 2020: D+33.5 2016: D+25.1 2012: D+12.0 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -236.54%
• Current HPI: 220.3768
• Rent YoY: ▲ 4.04%
• Metro: Charlottesville, 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

-0.8% since first listed

8 events — show timeline

• 2026-03-11 Relisted — GAAR
• 2026-02-20 Pending — GAAR
• 2025-11-11 Price Changed $399,000 GAAR
• 2025-11-03 Price Changed $410,000 GAAR
• 2025-09-29 Listed $420,000 GAAR
• 2022-10-25 Sold (MLS) $395,125 CAAR
• 2022-05-18 Pending — CAAR
• 2022-05-04 Listed $402,220 CAAR

Property tax history

+8.4%/yr

Latest (2025): $3,788 · +23.2% YoY. Source: county tax records.