5304 Warminster Dr #303 · Virginia Beach, VA 23455

$245,000

2 bd · 2.0 ba · 1,367 sqft · Condo public records · 21 Days on market

Built 2008 $295/mo HOA · 14% 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 +9.6/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained 2-bedroom, 2-bath condo in the heart of Virginia Beach! Featuring a modern open-concept floor plan with 9-ft ceilings. Spacious kitchen with 42" cabinets, large primary suite with ensuite bath and ample closet space, plus a second full bath near the additional bedroom. Condo fees cover water, trash, sewer, community pool, clubhouse, ground maintenance and master insurance. Conveniently located near military bases, interstates, shopping, and schools.

Key facts

• Clubhouse
• Community pool
• Spacious kitchen

Tags

• OPEN-CONCEPT FLOOR PLAN
• SPACIOUS KITCHEN
• COMMUNITY POOL
• CLUBHOUSE

Property features AI

Finance

• HOA & community: Condo association (Southmoor at Ridgley Manor / Ridgley Manor); Monthly condo fee of $278; Monthly POA fee of $17; Association provides clubhouse, ground maintenance, pool, sewer, trash pickup and water; Association managed by United Property Assoc.

Exterior

• Parking: One assigned off-street parking space
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached condo; Contemporary style; One living level; Located on condo level 3; Single story
• Construction: Slab foundation
• Exterior features: Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Gas range; Refrigerator
• Bedrooms: Master bedroom with bath; One bedroom has an ensuite; Bedroom and full bathroom on first floor
• Flooring: Ceramic; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Heat pump
• Interior features: Cable hookup; Ceiling fan; Walk-in closet; Window treatments; Attic; Utility closet
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (12.2% below list).
• Recommended offer: $215k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Trantwood Elementary (math 67% / reading 77%, grade A-, #273 of 1,108 statewide, top 27%, 499 students, 24% FRL); Bayside Middle (math 53% / reading 54%, grade C+, #209 of 342 statewide, top 62%, 700 students, 92% FRL); Bayside High (math 63% / reading 75%, grade B, #170 of 319 statewide, top 55%, 1,983 students, 65% FRL) — zoned schools average 60% FRL vs 28% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 207 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 666 units permitted in Virginia Beach city in 2024 (347 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 $7k 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 21 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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, 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 $215,021 (12.2% 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 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?
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: 0.88% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.91%
• DSCR: 0.87
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.93% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.36×
• Total profit: $-43,620
• Equity at exit: $36,530

10-year hold

• IRR: -4.4%
• Equity multiple: 0.67×
• Total profit: $-22,615
• Equity at exit: $21,183

Cash invested: $68,600 (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 23455

• Rents YoY: 5.9%
• Active inventory: 207
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,150 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$183 /mo · $2,195/yr
• Insurance: −$102
• HOA: −$295
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-166

Break-even live

Break-even rent $2,361

Max offer price $215,649

Occupancy floor —

Sensitivity live

Price	-10% $-27	-5% $-97	+0% $-166	+5% $-235	+10% $-305
Rent	-10% $-336	-5% $-251	+0% $-166	+5% $-81	+10% $4
Rate	-1.0pp $-43	-0.5pp $-104	base $-166	+0.5pp $-230	+1.0pp $-294

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5317 Warminster Dr #303 Virginia Beach, VA	2.0	2.0	1350	$1,997	$1.48	23d	1	0.04mi
5300 Warminster Dr #205 Virginia Beach, VA	2.0	2.0	1366	$1,795	$1.31	14d	1	0.06mi
5300 Warminster Dr #205 Virginia Beach, VA	2.0	2.0	1366	$1,750	$1.28	3d	1	0.06mi
1188 Grace Hill Dr Virginia Beach, VA	3.0	2.5	1805	$2,600	$1.44	6d	1	0.08mi
5212 Nuthall Dr #103 Virginia Beach, VA	2.0	2.0	1367	$1,895	$1.39	16d	1	0.11mi
1028 Grace Hill Dr Virginia Beach, VA	3.0	2.5	1809	$2,895	$1.60	25d	1	0.14mi
1001 Grace Hill Dr Virginia Beach, VA	3.0	2.5	1778	$2,350	$1.32	5d	1	0.16mi
5328 Tamworth Pl Virginia Beach, VA	3.0	2.5	1857	$2,400	$1.29	25d	1	0.19mi
924 Southmoor Dr #204 Virginia Beach, VA	2.0	2.0	1367	$1,950	$1.43	23d	1	0.20mi
920 Southmoor Dr #305 Virginia Beach, VA	2.0	2.0	1367	$1,900	$1.39	19d	1	0.22mi
912 Southmoor Dr #204 Virginia Beach, VA	2.0	2.0	1367	$1,810	$1.32	14d	1	0.24mi
5325 Brinsley Ln Virginia Beach, VA	3.0	2.5	1619	$2,500	$1.54	14d	1	0.24mi
5414 Catina Arch Virginia Beach, VA	1.0–4.0	1.0–1.5	866	$1,717	$1.98	5d	10	0.33mi
5332 Bramcote Pl Unit 1 Virginia Beach, VA	3.0	2.5	1857	$2,695	$1.45	25d	1	0.33mi
700 Wolftrap Ln Virginia Beach, VA	2.0	2.5	1360	$1,795	$1.32	18d	1	0.53mi
700 Wolftrap Ln Virginia Beach, VA	2.0	3.0	1360	$1,795	$1.32	14d	1	0.53mi
700 Wolftrap Ln Virginia Beach, VA	2.0	2.5	1360	$1,795	$1.32	25d	1	0.53mi
944 Gas Light Ln Unit 1 Virginia Beach, VA	3.0	2.5	1690	$2,300	$1.36	18d	1	0.54mi
944 Gas Light Ln Virginia Beach, VA	3.0	2.5	1690	$2,300	$1.36	19d	1	0.54mi
849 Gas Light Ln Virginia Beach, VA	2.0	2.0	1250	$1,900	$1.52	19d	1	0.59mi
5517 Lynbrook Lndg Virginia Beach, VA	3.0	2.5	1360	$2,335	$1.72	25d	1	0.61mi
4930 Cypress Point Cir #103 Virginia Beach, VA	2.0	2.5	1566	$2,400	$1.53	6d	1	0.70mi
5403 Scholarship Dr Virginia Beach, VA	3.0	2.5	1480	$2,100	$1.42	25d	1	0.74mi
5500 Goose Pond Ln Virginia Beach, VA	2.0	2.0	1383	$2,450	$1.77	5d	1	0.79mi
5500 Baccalaureate Dr Virginia Beach, VA	3.0	2.5	1400	$1,995	$1.43	16d	1	0.82mi
5421 Sweetwater Ct Virginia Beach, VA	3.0	2.5	1704	$2,500	$1.47	4d	1	0.85mi
969 Turtle Pond Ln Virginia Beach, VA	2.0	2.5	1383	$2,150	$1.55	25d	1	0.90mi
5433 Campus Dr Virginia Beach, VA	2.0	2.0	1000	$1,700	$1.70	5d	1	0.91mi
5416 Safe Harbour Way Virginia Beach, VA	3.0	2.5	1686	$2,500	$1.48	3d	1	0.92mi
813 S Grosvenor Ct Virginia Beach, VA	3.0	2.5	1476	$2,300	$1.56	6d	1	0.94mi
724 Hezekiah Little Dr Virginia Beach, VA	3.0	2.5	1748	$2,900	$1.66	3d	1	0.94mi
5509 Bulls Bay Dr Virginia Beach, VA	3.0	2.5	1694	$2,599	$1.53	14d	1	0.97mi
5509 Bulls Bay Dr Unit 1 Virginia Beach, VA	3.0	2.0	1694	$2,599	$1.53	6d	1	0.97mi
5545 Old Guard Cres Virginia Beach, VA	3.0	2.5	1581	$2,350	$1.49	23d	1	1.01mi
5632 Campus Dr Virginia Beach, VA	3.0	2.5	1581	$2,201	$1.39	6d	1	1.12mi
913 Ewell Rd Virginia Beach, VA	3.0	2.5	1458	$2,000	$1.37	6d	1	1.13mi
616 Aubrey Dr Virginia Beach, VA	3.0	1.5	1266	$1,995	$1.58	25d	1	1.13mi
5619 Summit Arch Virginia Beach, VA	2.0	2.0	957	$1,650	$1.72	6d	1	1.17mi
5684 Campus Dr Virginia Beach, VA	3.0	2.5	1356	$2,495	$1.84	6d	1	1.19mi
712 White Hall Ln Virginia Beach, VA	3.0	1.5	1400	$2,200	$1.57	25d	1	1.24mi

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Likely covers: watersewertrashinsurancepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-07
   statusdays on market $245,000 Under Contract 21 DOM
2. 2026-06-03
   days on market $245,000 Active Under Contract 19 DOM
3. 2026-06-02
   days on market $245,000 Active Under Contract 18 DOM
4. 2026-06-01
   days on market $245,000 Active Under Contract 17 DOM
5. 2026-05-31
   days on market $245,000 Active Under Contract 16 DOM
6. 2026-05-19
   historical Active Under Contract
7. 2026-05-14
   listed $245,000 Active
8. 2024-09-05
   soldstatus $230,000
9. 2024-08-26
   status Under Contract
10. 2024-08-07
    historical Active Under Contract
11. 2024-07-22
    listed $235,000 Active
12. 2014-06-23
    soldstatus $127,000
13. 2014-04-22
    price $132,000 Active
14. 2014-02-08
    price $135,000
15. 2013-09-24
    price $140,000 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: $2,195 · $183/mo
• Projected year-2 tax: $2,195 · $183/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 94% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,803
• − Mortgage interest: −$13,724
• − Property taxes: −$2,195
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − HOA: −$3,540
• − Depreciation: −$7,127
• Taxable loss: −$6,137
• Est. tax savings @ 24.0%: +$1,473
• After-tax cash flow: $-521/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): 49,977
• Household income: $94,069
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1820.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 14% Two or more races 7% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% Tagalog/Filipino 2% Other Indo-European 1%

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: ▼ -347.34%
• Current HPI: 296.3753
• Rent YoY: ▲ 5.93%
• 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

+75.0% since first listed

10 events — show timeline

• 2026-05-19 Contingent — REINMLS
• 2026-05-14 Listed $245,000 REINMLS
• 2024-09-05 Sold (Public Records) $230,000 Public Records
• 2024-08-26 Pending — REINMLS
• 2024-08-07 Contingent — REINMLS
• 2024-07-22 Listed $235,000 REINMLS
• 2014-06-23 Sold (Public Records) $127,000 Public Records
• 2014-04-22 Price Changed $132,000 REINMLS
• 2014-02-08 Price Changed $135,000 REINMLS
• 2013-09-24 Price Changed $140,000 REINMLS

Property tax history

+3.6%/yr

Latest (2025): $2,195 · +5.3% YoY. Source: county tax records.