1605 Lakeview Dr · Colonial Beach, VA 22443

$239,900

2 bd · 1.0 ba · 1,074 sqft · SingleFamily public records · 65 Days on market

Built 1980 9,583 sqft lot $223/sqft · 22% below area Est $308k · 22% under

---

Why this score? — see what drove the C+ 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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +4.5/10.0
• Schools +4.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1605 Lakeview Drive in charming Colonial Beach—where comfort, style, and coastal living come together. This beautifully renovated 2-bedroom, 1-bath home offers the perfect blend of modern updates and relaxed beach-town appeal. Step inside to find a bright, refreshed interior featuring updated flooring, fresh paint, and a thoughtfully redesigned layout that maximizes space and functionality. The kitchen shines with modern finishes and updated fixtures, making it both stylish and practical for everyday living. Both bedrooms are well-sized with ample natural light, while the renovated bathroom boasts clean, contemporary touches. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this home checks all the boxes. Located just minutes from the water, you’ll enjoy easy access to beaches, boating, dining, and all that Colonial Beach has to offer. Spend your days soaking up the sun, fishing, or cruising the golf cart-friendly streets of this vibrant waterfront community. Don’t miss your chance to own a move-in ready home near the Potomac—schedule your showing today! HOA is Optional.

Key facts

• 9,583 sq ft lot
• 3 parking spots
• Built 1980

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (4.5% below list).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.4% in Colonial 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 59/100 on livability (#460 in VA) — a working-class tenant base; expect higher turnover. Strengths: schools B, crime B, cost of living B; Watch: amenities F, commute F, health & safety F.
• Westmoreland County Public School District (rural): math 34% / reading 59% proficiency, ranked #105 of 131 in VA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 197 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); 220 units permitted in Westmoreland County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($65k/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 $7k of value loss. Plan a longer hold.
• Westmoreland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 8y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $240k implies a 390% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $225,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.95% ✗
• Cap rate: 8.24%
• Cash-on-cash: 6.97%
• DSCR: 1.31
• GRM: 8.7

CMA / ARV

• ARV (median comp): $308,344
• List price: $239,900
• Delta: -22.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 Circle Ln	0.47mi	3/2.0 (+1)	1,080 (+1%)	0mo	$272,000	$252	68
69 Pinewood Ln	0.52mi	2/1.0	1,050 (-2%)	6mo	$269,900	$257	66
69 Pinewood Ln Unit L18	0.54mi	2/1.0	1,050 (-2%)	7mo	$269,900	$257	66
227 Forest Grove Rd	0.68mi	3/2.0 (+1)	1,120 (+4%)	4mo	$297,000	$265	49
85 Wildwood Rd	0.42mi	3/2.0 (+1)	1,224 (+14%)	2mo	$309,900	$253	47
57 Oak Ln	0.52mi	3/2.0 (+1)	1,232 (+15%)	1mo	$300,000	$244	41
218 Shorewood Dr	0.55mi	3/2.0 (+1)	1,224 (+14%)	2mo	$290,000	$237	41
369 Circle Ln	0.45mi	3/2.0 (+1)	912 (-15%)	7mo	$285,000	$313	40
916 Lakeview Dr	0.57mi	3/2.0 (+1)	1,200 (+12%)	9mo	$296,600	$247	38
245 Azure Dr	0.57mi	3/2.0 (+1)	1,224 (+14%)	5mo	$309,900	$253	37
236 Forest Grove Rd	0.66mi	3/2.0 (+1)	1,224 (+14%)	3mo	$314,900	$257	35
100 Park Ave	0.68mi	3/2.0 (+1)	1,230 (+14%)	8mo	$279,500	$227	29

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-14,150
• Equity at exit: $35,770

10-year hold

• IRR: 3.9%
• Equity multiple: 1.29×
• Total profit: $19,204
• Equity at exit: $20,742

Cash invested: $67,172 (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 22443

• Active inventory: 197
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,290 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $390

Break-even live

Break-even rent $1,796

Max offer price $239,900

Occupancy floor 78%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Azalea Way Colonial Beach, VA	3.0	2.0	1311	$2,250	$1.72	43d	1	0.44mi
47 Birch Ln Colonial Beach, VA	3.0	2.0	1300	$2,545	$1.96	14d	1	0.59mi
175 Blackwell Rd Colonial Beach, VA	3.0	2.0	1488	$2,800	$1.88	2d	1	1.46mi

Listing history 42 events

1. 2026-06-18
   days on market $239,900 Active 65 DOM
2. 2026-06-17
   days on market $239,900 Active 64 DOM
3. 2026-06-16
   days on market $239,900 Active 63 DOM
4. 2026-06-15
   days on market $239,900 Active 62 DOM
5. 2026-06-14
   days on market $239,900 Active 60 DOM
6. 2026-06-13
   days on market $239,900 Active 59 DOM
7. 2026-06-10
   days on market $239,900 Active 57 DOM
8. 2026-06-09
   days on market $239,900 Active 56 DOM
9. 2026-06-08
   days on market $239,900 Active 55 DOM
10. 2026-06-07
    days on market $239,900 Active 54 DOM
11. 2026-06-03
    days on market $239,900 Active 50 DOM
12. 2026-06-03
    price $239,900 Active 49 DOM
13. 2026-06-02
    days on market $244,400 Active 49 DOM
14. 2026-06-01
    days on market $244,400 Active 48 DOM
15. 2026-05-31
    days on market $244,400 Active 47 DOM
16. 2026-05-31
    days on market $244,400 Active 46 DOM
17. 2026-04-28
    price $250,000 1167-char remark

    Show marketing remark (1167 chars)

    Welcome to 1605 Lakeview Drive in charming Colonial Beach—where comfort, style, and coastal living come together. This beautifully renovated 2-bedroom, 1-bath home offers the perfect blend of modern updates and relaxed beach-town appeal. Step inside to find a bright, refreshed interior featuring updated flooring, fresh paint, and a thoughtfully redesigned layout that maximizes space and functionality. The kitchen shines with modern finishes and updated fixtures, making it both stylish and practical for everyday living. Both bedrooms are well-sized with ample natural light, while the renovated bathroom boasts clean, contemporary touches. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this home checks all the boxes. Located just minutes from the water, you’ll enjoy easy access to beaches, boating, dining, and all that Colonial Beach has to offer. Spend your days soaking up the sun, fishing, or cruising the golf cart-friendly streets of this vibrant waterfront community. Don’t miss your chance to own a move-in ready home near the Potomac—schedule your showing today! HOA is Optional.

18. 2026-04-22
    price $259,900 1167-char remark

    Show marketing remark (1167 chars)

    Welcome to 1605 Lakeview Drive in charming Colonial Beach—where comfort, style, and coastal living come together. This beautifully renovated 2-bedroom, 1-bath home offers the perfect blend of modern updates and relaxed beach-town appeal. Step inside to find a bright, refreshed interior featuring updated flooring, fresh paint, and a thoughtfully redesigned layout that maximizes space and functionality. The kitchen shines with modern finishes and updated fixtures, making it both stylish and practical for everyday living. Both bedrooms are well-sized with ample natural light, while the renovated bathroom boasts clean, contemporary touches. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this home checks all the boxes. Located just minutes from the water, you’ll enjoy easy access to beaches, boating, dining, and all that Colonial Beach has to offer. Spend your days soaking up the sun, fishing, or cruising the golf cart-friendly streets of this vibrant waterfront community. Don’t miss your chance to own a move-in ready home near the Potomac—schedule your showing today! HOA is Optional.

19. 2026-04-14
    listed $269,900 Active 1167-char remark

    Show marketing remark (1167 chars)

    Welcome to 1605 Lakeview Drive in charming Colonial Beach—where comfort, style, and coastal living come together. This beautifully renovated 2-bedroom, 1-bath home offers the perfect blend of modern updates and relaxed beach-town appeal. Step inside to find a bright, refreshed interior featuring updated flooring, fresh paint, and a thoughtfully redesigned layout that maximizes space and functionality. The kitchen shines with modern finishes and updated fixtures, making it both stylish and practical for everyday living. Both bedrooms are well-sized with ample natural light, while the renovated bathroom boasts clean, contemporary touches. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this home checks all the boxes. Located just minutes from the water, you’ll enjoy easy access to beaches, boating, dining, and all that Colonial Beach has to offer. Spend your days soaking up the sun, fishing, or cruising the golf cart-friendly streets of this vibrant waterfront community. Don’t miss your chance to own a move-in ready home near the Potomac—schedule your showing today! HOA is Optional.

20. 2019-03-14
    historical
21. 2019-01-14
    listed $84,800 Active
22. 2018-12-27
    historical
23. 2018-10-21
    listed $87,900 Active
24. 2018-10-21
    historical
25. 2018-08-20
    historical
26. 2018-08-20
    listed $89,900 Active
27. 2018-08-20
    historical Withdrawn
28. 2018-08-08
    historical
29. 2018-08-08
    listed $92,900 Active
30. 2018-08-08
    listed Active
31. 2018-08-08
    historical Withdrawn
32. 2018-07-24
    historical
33. 2018-07-24
    listed $94,900 Active
34. 2018-07-24
    listed Active
35. 2018-07-24
    historical Withdrawn
36. 2018-06-14
    historical
37. 2018-06-14
    listed $97,900 Active
38. 2018-06-14
    listed Active
39. 2018-06-14
    historical Withdrawn
40. 2018-05-30
    listed $99,000 Active
41. 2018-05-30
    listed Active
42. 2003-03-03
    soldstatus $49,000

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $1,967 · $164/mo
• Expected delta: +$1,233/yr (+$103/mo · 168.1%)

ⓘ 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 ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,480
• − Mortgage interest: −$13,438
• − Property taxes: −$734
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,198
• − Management: −$2,198
• − Depreciation: −$6,979
• Taxable income: $733
• Est. tax owed @ 24.0%: −$176
• After-tax cash flow: $4,503/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: Westmoreland County Public School District
• NCES district ID: 5103980
• Math proficiency: 34% ▼ -47.00%
• Reading proficiency: 59% ▼ -11.00%
• Median HH income: $51,665
• Composite: 39.94/100
• National rank: #3845
• State rank: #105 of 131 in VA

Livability — Colonial Beach

• Score: 59/100
• State rank: #460
• US rank: #19615

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Westmoreland County · 10,011 people
• City population: 10,011
• Metro: nan
• Population (ZIP): 10,011
• Household income: $64,810
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 126.0

Population outlook (Westmoreland County) Hauer SSP2

• Today (2025): 17,643 people
• By 2030: 17,520 · -0.7%
• By 2040: 17,041 · -3.4%
• By 2050: 16,397 · -7.1%
• By 2075: 15,012 · -14.9%
• By 2100: 12,917 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 2% Scotch-Irish 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Westmoreland

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -24.5pp toward R · 2008: 10.2pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+8.2 2016: R+7.3 2012: D+0.5 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.23%
• Current HPI: 152.1518
• Rent YoY: —
• Metro: nan
• 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

+410.2% since first listed

26 events — show timeline

• 2026-04-28 Price Changed $250,000 BRIGHT MLS
• 2026-04-22 Price Changed $259,900 BRIGHT MLS
• 2026-04-14 Listed $269,900 BRIGHT MLS
• 2019-03-14 Listing Removed — BRIGHT MLS
• 2019-01-14 Listed $84,800 BRIGHT MLS
• 2018-12-27 Listing Removed — BRIGHT MLS
• 2018-10-21 Listing Removed — BRIGHT MLS
• 2018-10-21 Listed $87,900 BRIGHT MLS
• 2018-08-20 Listing Removed — BRIGHT MLS
• 2018-08-20 Delisted — MRIS
• 2018-08-20 Listed $89,900 BRIGHT MLS
• 2018-08-08 Listing Removed — BRIGHT MLS
• 2018-08-08 Delisted — MRIS
• 2018-08-08 Listed — MRIS
• 2018-08-08 Listed $92,900 BRIGHT MLS
• 2018-07-24 Listing Removed — BRIGHT MLS
• 2018-07-24 Delisted — MRIS
• 2018-07-24 Listed — MRIS
• 2018-07-24 Listed $94,900 BRIGHT MLS
• 2018-06-14 Listing Removed — BRIGHT MLS
• 2018-06-14 Delisted — MRIS
• 2018-06-14 Listed — MRIS
• 2018-06-14 Listed $97,900 BRIGHT MLS
• 2018-05-30 Listed — MRIS
• 2018-05-30 Listed $99,000 BRIGHT MLS
• 2003-03-03 Sold (Public Records) $49,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $734 · +0.0% YoY. Source: county tax records.