116 Lakeview Pkwy · Lake of the Woods, VA 22508

$349,999

4 bd · 2.0 ba · 1,662 sqft · SingleFamily public records · 14 Days on market

Built 1979 0.32 ac lot Est $387k · 10% under $217/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 +12.9/30.0
• ARV discount +11.8/15.0
• Schools +4.8/10.0
• DSCR +3.9/10.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4-Bedroom, 2-Bathroom One-Level Home in a Resort-Style Community Step into comfort and style with this beautifully updated 4- bedrooms, 2-bathroom gem, ideally situated just moments from the gate entrance for effortless access. Designed with convenience in mind, this single-level home offers spacious living areas perfect for relaxing and entertaining. (Not far from the new Kalahari Resort opening in 2026.) The large primary bedroom has vaulted ceilings and a private bathroom. The bright, modern kitchen and refreshed bedrooms add a touch of contemporary charm, while the brand-new roof (installed in early 2024) offers long-term peace of mind. Step outside to your expansive backyard—ideal for weekend barbecues, garden parties, or simply soaking up the sun in your private outdoor retreat. Nestled in a vibrant, resort-like community, this home offers the perfect balance of privacy and connection. It offers access to a variety of amenities designed for year-round enjoyment, whether you're looking for a peaceful escape or an active lifestyle. The amenities include: golf course, walking trails, horse stables, beaches and more. Don’t miss this rare opportunity to own a move-in-ready home in a community that feels like a vacation every day!

Key facts

• 0.32 acre lot
• Community pool
• Built 1979

Property features AI

Finance

• HOA & community: Annual HOA fee; Community amenities include outdoor pool, clubhouse/community center, golf course, lake access, pier/dock, boat ramp and slips, basketball courts, baseball field, bike trail, jog/walk path, picnic area, riding/stables

Exterior

• Parking: Gravel driveway; Driveway parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached single-story home; Effective major renovation in 2023; Year built per assessor; Lake-facing location
• Construction: Vinyl siding; Architectural shingle roof; Concrete perimeter foundation; Detached structure
• Exterior features: Wrap-around deck; Above-grade and below-grade structures; Located on navigable lakefront (Lake of the Woods); Water access with canoe/kayak access and fishing; limited-hours PWC operation allowed

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Built-in microwave; Refrigerator; Electric oven/range
• Bedrooms: Four bedrooms on the main level
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump(s); Central air (electric cooling); Electric hot water
• Interior features: Open floor plan with combination dining/living area; Breakfast area; Pantry; Upgraded countertops; Ceiling fan(s); Walk-in closet(s)
• Laundry & utility: Washer in unit; Dryer in unit (electric)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-24 ($-290/yr) — negative.
• To cash-flow at today's rent, offer at most $346k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (16.1% below list).
• Recommended offer: $294k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.3% in Lake of the Woods — 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 65/100 on livability (#341 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, amenities F, commute F.
• Orange County Public School District (rural): math 47% / reading 64% proficiency, ranked #71 of 131 in VA (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Locust Grove Elementary (math 51% / reading 64%, grade C+, #588 of 1,108 statewide, top 54%, 520 students, 70% FRL); Locust Grove Middle (math 42% / reading 66%, grade B-, #205 of 342 statewide, top 61%, 693 students, 69% FRL); Orange County High (math 61% / reading 72%, grade B, #195 of 319 statewide, top 62%, 1,476 students, 43% FRL) — zoned schools average 61% FRL vs 34% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 197 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 412 units permitted in Orange County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($111k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Orange County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 26 sale attempts since 28y ago; this cycle's ask is 14794% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $293,673 (16.1% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 0.84% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $387,246
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Lakeview Pkwy	0.00mi	4/2.0	1,662 (0%)	12mo	$359,000	$216	90
4621 Lakeview Pkwy	0.23mi	3/2.0 (-1)	1,652 (-1%)	9mo	$411,000	$249	76
411 Lakeview Pkwy	0.34mi	4/2.0	1,650 (-1%)	9mo	$390,000	$236	76
207 Spotswood Rd	0.41mi	4/2.0	1,530 (-8%)	2mo	$379,000	$248	66
413 Lakeview Pkwy	0.35mi	3/2.0 (-1)	1,822 (+10%)	3mo	$358,850	$197	60
203 Musket Ln	0.58mi	3/2.0 (-1)	1,737 (+4%)	2mo	$405,000	$233	59
202 Wilderness Dr	0.34mi	3/2.0 (-1)	1,820 (+10%)	9mo	$342,500	$188	56
206 Liberty Blvd	0.74mi	3/2.0 (-1)	1,620 (-2%)	2mo	$329,000	$203	54
215 Mt Pleasant Dr	0.39mi	3/2.5 (-1)	1,512 (-9%)	7mo	$365,000	$241	53
106 Wakefield Dr	0.56mi	3/2.0 (-1)	1,792 (+8%)	10mo	$468,000	$261	47
314 Fairway Dr	0.74mi	3/2.0 (-1)	1,794 (+8%)	6mo	$400,000	$223	43
331 Fairway Dr	0.75mi	3/2.5 (-1)	1,900 (+14%)	7mo	$400,000	$211	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-58,255
• Equity at exit: $52,186

10-year hold

• IRR: -8.6%
• Equity multiple: 0.46×
• Total profit: $-52,715
• Equity at exit: $30,262

Cash invested: $98,000 (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 22508

• Home prices YoY: -5.0%
• Active inventory: 197
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,937 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$146 /mo · $1,751/yr
• Insurance: −$146
• HOA: −$217
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $-24

Break-even live

Break-even rent $2,967

Max offer price $345,732

Occupancy floor 96%

Sensitivity live

Price	-10% $174	-5% $75	+0% $-24	+5% $-123	+10% $-222
Rent	-10% $-256	-5% $-140	+0% $-24	+5% $92	+10% $208
Rate	-1.0pp $152	-0.5pp $65	base $-24	+0.5pp $-115	+1.0pp $-207

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 Wakefield Dr Locust Grove, VA	3.0	2.5	2211	$2,500	$1.13	0d	1	0.60mi
1006 Lakeview Pkwy Locust Grove, VA	3.0	2.0	1222	$2,200	$1.80	45d	1	0.85mi
110 Parliament St Locust Grove, VA	3.0	2.5	1786	$2,300	$1.29	2d	1	1.09mi
35514 Aspen Way Locust Grove, VA	4.0	2.5	2180	$3,200	$1.47	0d	1	1.12mi
405 Cornwallis Ave Locust Grove, VA	3.0	2.0	1728	$2,800	$1.62	0d	1	1.16mi
3216 White Tail Dr Locust Grove, VA	4.0	2.5	1906	$2,700	$1.42	5d	1	1.23mi
306 Happy Creek Rd Locust Grove, VA	3.0	2.0	1630	$2,695	$1.65	45d	1	1.24mi
2736 Bears Den Dr Locust Grove, VA	3.0	2.5	1720	$2,299	$1.34	20d	1	1.43mi

HOA detail

• Monthly dues: $217 · $2,604/yr

Listing history 9 events

1. 2026-06-21
   days on market $349,999 Coming Soon 14 DOM
2. 2026-06-18
   days on market $349,999 Coming Soon 11 DOM
3. 2026-06-17
   days on market $349,999 Coming Soon 10 DOM
4. 2026-06-16
   days on market $349,999 Coming Soon 9 DOM
5. 2026-06-15
   days on market $349,999 Coming Soon 8 DOM
6. 2026-06-13
   days on market $349,999 Coming Soon 6 DOM
7. 2026-06-09
   days on market $349,999 Coming Soon 2 DOM
8. 2026-06-08
   remarks 699-char remark
9. 2026-06-08
   listed $349,999 Coming Soon 1 DOM

ⓘ 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: $1,751 · $146/mo
• Projected year-2 tax: $2,870 · $239/mo
• Expected delta: +$1,119/yr (+$93/mo · 63.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 9% 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: $35,241
• − Mortgage interest: −$19,605
• − Property taxes: −$1,751
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,819
• − Management: −$2,819
• − HOA: −$2,604
• − Depreciation: −$10,182
• Taxable loss: −$6,290
• Est. tax savings @ 24.0%: +$1,510
• After-tax cash flow: $1,220/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: Orange County Public School District
• NCES district ID: 5102820
• Math proficiency: 47% ▼ -35.00%
• Reading proficiency: 64% ▼ -14.00%
• Median HH income: $61,086
• Composite: 48.34/100
• National rank: #2147
• State rank: #71 of 131 in VA

Livability — Lake of the Woods

• Score: 65/100
• State rank: #341
• US rank: #13456

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake of the Woods, VA
• County: Orange County · 21,992 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 15,557
• Household income: $111,357
• Rent vs Own: 7.1% rent · 92.9% own
• Severe rent burden: 102.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 38,758 people
• By 2030: 40,411 · +4.3%
• By 2040: 43,477 · +12.2%
• By 2050: 45,856 · +18.3%
• By 2075: 51,067 · +31.8%
• By 2100: 51,387 · +32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 10% Hispanic / Latino 10% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Serbian 3% Romanian 3% Lithuanian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 5% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: Strong R (+24.7) · D 37.2% · R 61.9%
• 2008→2024 swing: -15.8pp toward R · 2008: -8.8pp · 2024: -24.7pp
• All cycles: 2024: R+24.7 2020: R+21.4 2016: R+26.6 2012: R+14.5 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.88%
• Current HPI: 401.2932
• Rent YoY: —
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• 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

+368.2% since first listed

81 events — show timeline

• 2026-06-07 Coming Soon $349,999 BRIGHT MLS
• 2025-07-03 Rental Removed $2,350 CAAR
• 2025-07-02 Sold (MLS) $359,000 BRIGHT MLS
• 2025-06-21 Price Changed $349,999 BRIGHT MLS
• 2025-06-18 Listed for Rent $2,350 CAAR
• 2025-06-11 Rental Removed $2,650 CAAR
• 2025-06-04 Price Changed $369,999 BRIGHT MLS
• 2025-05-17 Listed for Rent $2,650 CAAR
• 2025-04-30 Listing Removed — BRIGHT MLS
• 2025-04-30 Listed $374,999 BRIGHT MLS
• 2025-04-18 Price Changed $379,999 BRIGHT MLS
• 2025-03-31 Price Changed $389,999 BRIGHT MLS
• 2025-03-17 Price Changed $405,999 BRIGHT MLS
• 2025-02-18 Listed $415,000 BRIGHT MLS
• 2025-01-22 Coming Soon — BRIGHT MLS
• 2024-03-06 Rental Removed $2,300 BRIGHTMLS
• 2024-01-31 Price Changed $2,300 BRIGHTMLS
• 2024-01-17 Price Changed $2,400 BRIGHTMLS
• 2024-01-11 Price Changed $2,500 BRIGHTMLS
• 2023-12-29 Listed for Rent $2,600 BRIGHTMLS
• 2023-12-14 Sold (Public Records) $299,500 Public Records
• 2023-12-13 Sold (MLS) $299,500 BRIGHT MLS
• 2023-12-09 Rental Removed $2,600 RENT.
• 2023-11-29 Contingent — BRIGHT MLS
• 2023-11-23 Price Changed $315,000 BRIGHT MLS
• 2023-11-16 Price Changed $329,000 BRIGHT MLS
• 2023-11-02 Listed for Rent $2,600 RENT.
• 2023-10-19 Price Changed $339,000 BRIGHT MLS
• 2023-09-30 Listed $359,000 BRIGHT MLS
• 2017-11-21 Listing Removed — BRIGHT MLS
• 2017-11-21 Delisted — MRIS
• 2017-10-31 Price Changed — MRIS
• 2017-10-30 Listed — MRIS
• 2017-10-30 Listed $199,000 BRIGHT MLS
• 2015-11-13 Delisted — MRIS
• 2015-11-13 Listing Removed — BRIGHT MLS
• 2015-10-26 Listed — MRIS
• 2015-10-26 Listed $159,000 BRIGHT MLS
• 2015-08-14 Sold (MLS) $101,000 MRIS
• 2015-08-14 Sold (MLS) $101,000 BRIGHT MLS
• 2015-07-09 Pending — MRIS
• 2015-07-09 Listing Removed — BRIGHT MLS
• 2015-06-23 Relisted — MRIS
• 2015-06-03 Pending — MRIS
• 2015-05-12 Listed $137,000 MRIS
• 2015-05-12 Listed $137,000 BRIGHT MLS
• 2014-06-26 Delisted — MRIS
• 2014-06-26 Listing Removed — BRIGHT MLS
• 2014-06-18 Pending — MRIS
• 2014-06-09 Relisted — MRIS
• 2014-05-02 Listed $110,000 BRIGHT MLS
• 2014-05-02 Delisted — MRIS
• 2014-05-02 Listed — MRIS
• 2009-05-15 Sold (Public Records) $145,000 Public Records
• 2009-05-15 Sold (Public Records) $145,000 Public Records
• 2009-05-13 Sold (MLS) $145,000 MRIS
• 2009-05-13 Sold (MLS) $145,000 BRIGHT MLS
• 2009-05-09 Delisted — MRIS
• 2009-04-30 Contingent — MRIS
• 2009-04-29 Listing Removed — BRIGHT MLS
• 2009-04-10 Price Changed $145,000 MRIS
• 2009-01-29 Listed $168,000 MRIS
• 2009-01-28 Listed $145,000 BRIGHT MLS
• 2008-04-01 Delisted — MRIS
• 2007-10-19 Listed — MRIS
• 2007-10-16 Delisted — MRIS
• 2007-08-02 Listed — MRIS
• 2007-08-02 Delisted — MRIS
• 2007-06-24 Listed — MRIS
• 2007-02-25 Delisted — MRIS
• 2007-02-12 Listed — MRIS
• 2003-08-29 Sold (MLS) $135,000 MRIS
• 2003-07-18 Delisted — MRIS
• 2003-07-17 Listed $135,000 MRIS
• 1998-10-02 Sold (MLS) $82,000 MRIS
• 1998-08-24 Delisted — MRIS
• 1998-06-16 Listed $82,000 MRIS
• 1998-06-12 Delisted — MRIS
• 1998-03-19 Listed — MRIS
• 1994-05-16 Sold (Public Records) $74,750 Public Records
• 1994-05-16 Sold (Public Records) $74,750 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,751 · +34.9% YoY. Source: county tax records.