901 Lakeview Cv · Smithfield, VA 23430

$269,000

3 bd · 2.5 ba · 1,380 sqft · SingleFamily public records · 37 Days on market

Built 2019 Est $327k · 18% under $230/mo HOA · 10% 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).

• ARV discount +15.0/15.0
• Cash flow +10.4/30.0
• Schools +5.9/10.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this end-unit, tri-level townhome in Smithfield, Virginia, tucked within a neighborhood set back inside a larger community while remaining near everyday conveniences. This home offers a functional layout with comfortable living spaces designed for easy, low-maintenance living. Enjoy the added privacy of an end unit along with direct access to community amenities—the pool and clubhouse are located just across the street, making it simple to enjoy outdoor time and neighborhood gatherings. Located just minutes from downtown Smithfield, known for its historic charm, waterfront views, local shops, and dining, with convenient access to Hampton Roads commuter routes, this home com

Key facts

• Pool and clubhouse
• Waterfront views
• Dining

Tags

• POOL AND CLUBHOUSE
• WATERFRONT VIEWS
• LOCAL SHOPS
• DINING

Property features AI

Finance

• HOA & community: Has HOA (monthly fee); Condo/POA amenities include clubhouse, ground maintenance, and pool; Managed by United Property Associates

Exterior

• Parking: Attached 1-car garage; Off-street parking; Driveway space; Street parking
• Security: Security system
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; Corner end unit; 3 living levels; 3 stories; Condo ownership; Condo level 1 entry; Slab foundation
• Construction: Vinyl exterior; Asphalt shingle roof; Slab foundation
• Exterior features: Deck; Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator; Breakfast area
• Bedrooms: No bedroom and full bathroom on 1st floor; Includes finished room over garage; Balcony and attic space
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump; Central air
• Interior features: Ceiling fan; Garage door opener; Security system; Scuttle access; Walk-in closet
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (16.9% below list).
• Recommended offer: $223k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.6% in Smithfield — 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 78/100 on livability (#82 in VA, #2,722 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Isle Of Wight County Public School District (rural): math 62% / reading 73% proficiency, ranked #28 of 131 in VA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hardy Elementary (math 67% / reading 67%, grade B+, #381 of 1,108 statewide, top 36%, 526 students, 49% FRL); Smithfield High (math 66% / reading 80%, grade B+, #129 of 319 statewide, top 41%, 1,347 students, 33% FRL).
• Market conditions: 207 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 257 units permitted in Isle of Wight County in 2024 (0 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 $8k of value loss. Plan a longer hold.
• Isle of Wight County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $223,481 (16.9% 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 37 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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: 0.83% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $327,060
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Edgewood Dr	0.52mi	3/1.5	1,392 (+1%)	0mo	$370,000	$266	70
812 S Church St	0.52mi	3/2.0	1,412 (+2%)	0mo	$315,000	$223	70
1001 Magruder Rd	0.67mi	3/1.5	1,377 (-0%)	12mo	$312,400	$227	55
708 S Church St	0.59mi	3/2.0	1,240 (-10%)	9mo	$298,500	$241	46
804 Church St S	0.55mi	3/1.0	1,244 (-10%)	7mo	$295,000	$237	46
921 Magruder Rd	0.64mi	3/2.0	1,532 (+11%)	5mo	$322,000	$210	45
210 Azalea Dr	0.74mi	3/2.0	1,526 (+11%)	5mo	$365,000	$239	42

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: -20.0%
• Equity multiple: 0.30×
• Total profit: $-52,598
• Equity at exit: $40,109

10-year hold

• IRR: -12.9%
• Equity multiple: 0.24×
• Total profit: $-57,224
• Equity at exit: $23,258

Cash invested: $75,320 (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 23430

• Home prices YoY: -17.2%
• Active inventory: 207
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,235 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$155 /mo · $1,862/yr
• Insurance: −$112
• HOA: −$230
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $-142

Break-even live

Break-even rent $2,415

Max offer price $243,837

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
922 Pocahontas Ct Smithfield, VA	2.0	2.0	1480	$1,795	$1.21	10d	1	0.45mi
1604 Colonial Ave Smithfield, VA	3.0	2.0	1556	$2,499	$1.61	43d	1	0.84mi
32 Riverside Dr Smithfield, VA	3.0	2.0	1832	$2,400	$1.31	14d	1	0.86mi
108 S Mason St Smithfield, VA	3.0	2.0	1344	$2,995	$2.23	43d	1	1.50mi

HOA detail

• Monthly dues: $230 · $2,760/yr
• Likely covers: waterpool

Listing history 5 events

1. 2026-05-15
   status Under Contract
2. 2026-04-13
   historical Active Under Contract
3. 2026-04-08
   listed $269,000 Active
4. 2018-07-03
   listed $194,743
5. 2018-07-03
   historical

ⓘ 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: $1,862 · $155/mo
• Projected year-2 tax: $2,206 · $184/mo
• Expected delta: +$344/yr (+$29/mo · 18.4%)

ⓘ 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 8/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $26,818
• − Mortgage interest: −$15,068
• − Property taxes: −$1,862
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,145
• − Management: −$2,145
• − HOA: −$2,760
• − Depreciation: −$7,825
• Taxable loss: −$6,334
• Est. tax savings @ 24.0%: +$1,520
• After-tax cash flow: $-189/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: Isle Of Wight County Public School District
• NCES district ID: 5102010
• Math proficiency: 62% ▼ -21.00%
• Reading proficiency: 73% ▼ -7.00%
• Median HH income: $64,756
• Composite: 58.67/100
• National rank: #982
• State rank: #28 of 131 in VA

Livability — Smithfield

• Score: 78/100
• State rank: #82
• US rank: #2722

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smithfield, VA
• Population (ZIP): 19,057

Population outlook (Isle of Wight County) Hauer SSP2

• Today (2025): 39,005 people
• By 2030: 40,089 · +2.8%
• By 2040: 41,703 · +6.9%
• By 2050: 42,745 · +9.6%
• By 2075: 47,222 · +21.1%
• By 2100: 47,810 · +22.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 23% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 4% Slovak 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Isle of Wight

• 2024 margin: R (+19.8) · D 39.6% · R 59.4%
• 2008→2024 swing: -6.4pp toward R · 2008: -13.4pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+18.4 2016: R+21.0 2012: R+14.7 2008: R+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.15%
• Current HPI: 280.3343
• 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

+38.1% since first listed

5 events — show timeline

• 2026-05-15 Pending — REINMLS
• 2026-04-13 Contingent — REINMLS
• 2026-04-08 Listed $269,000 REINMLS
• 2018-07-03 Listing Removed — REINMLS
• 2018-07-03 Listed $194,743 REINMLS

Property tax history

+0.9%/yr

Latest (2025): $1,862 · +5.2% YoY. Source: county tax records.