158 Albemarle Dr · Williamsburg, VA 23185

$214,900

2 bd · 1.0 ba · 1,168 sqft · Condo public records · 103 Days on market

Built 1985 $250/mo HOA · 14% of rent ↓ 2% since listing

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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 +10.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• 1% rule +3.5/10.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2-bedroom/1.5 bath condo is located off of Jamestown Road nestled back in Raleigh Square. Minutes from Colonial Parkway, Colonial Williamsburg Rt 5 & and Rt 199. Just down the Road from Jamestown and all the area has to offer. Fresh paint and new carpet throughout. With no rental cap, this property is an excellent opportunity for investors and homeowners alike. Don't miss out on this exceptional offering!

Key facts

• $250 HOA
• Built 1985
• Listed 103 days

Property features AI

Finance

• HOA & community: HOA fee $250 monthly; HOA covers management, trash, and common area maintenance

Exterior

• Parking: Off-street parking; Driveway
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Condominium; Interior townhouse/rowhouse; 2 total levels; Estimated year built
• Construction: Frame construction with vinyl siding; Asphalt shingle roof; Crawl space foundation
• Exterior features: Deck(s); Above-grade outdoor structure

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Water heater
• Bedrooms: 2 bedrooms on main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump(s); Central air (electric)
• Interior features: Dining area; Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (14.8% below list).
• Recommended offer: $183k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.1% in Williamsburg — 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 84/100 on livability (#31 in VA, #734 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: cost of living D.
• Market conditions: Rents rising fast (+5.2%/yr); 390 active listings in the ZIP; solid renter incomes; 358 units permitted in James City County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• James City County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: major wind risk, 66% 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 $183,009 (14.8% 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 103 days. Have you received any prior offers? Is the seller open to a 15% 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. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.85% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.14%
• DSCR: 0.90
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.21% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.38×
• Total profit: $-37,426
• Equity at exit: $32,042

10-year hold

• IRR: -5.4%
• Equity multiple: 0.61×
• Total profit: $-23,248
• Equity at exit: $18,581

Cash invested: $60,172 (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 23185

• Rents YoY: 5.2%
• Active inventory: 390
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,830 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$87 /mo · $1,038/yr
• Insurance: −$90
• HOA: −$250
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $-107

Break-even live

Break-even rent $1,966

Max offer price $195,952

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $214,900 Active 103 DOM
2. 2026-06-17
   days on market $214,900 Active 102 DOM
3. 2026-06-16
   days on market $214,900 Active 101 DOM
4. 2026-06-15
   days on market $214,900 Active 100 DOM
5. 2026-06-13
   days on market $214,900 Active 98 DOM
6. 2026-06-09
   days on market $214,900 Active 94 DOM
7. 2026-06-08
   days on market $214,900 Active 93 DOM
8. 2026-06-07
   days on market $214,900 Active 92 DOM
9. 2026-06-05
   days on market $214,900 Active 89 DOM
10. 2026-06-03
    days on market $214,900 Active 88 DOM
11. 2026-06-02
    days on market $214,900 Active 87 DOM
12. 2026-06-01
    days on market $214,900 Active 86 DOM
13. 2026-05-31
    days on market $214,900 Active 85 DOM
14. 2026-04-15
    price $214,900 417-char remark

    Show marketing remark (419 chars)

    This 2-bedroom/1.5 bath condo is located off of Jamestown Road nestled back in Raleigh Square. Minutes from Colonial Parkway, Colonial Williamsburg Rt 5 & and Rt 199. Just down the Road from Jamestown and all the area has to offer. Fresh paint and new carpet throughout. With no rental cap, this property is an excellent opportunity for investors and homeowners alike. Don't miss out on this exceptional offering!

15. 2026-04-15
    price $214,900

    Show marketing remark (419 chars)

    This 2-bedroom/1.5 bath condo is located off of Jamestown Road nestled back in Raleigh Square. Minutes from Colonial Parkway, Colonial Williamsburg Rt 5 & and Rt 199. Just down the Road from Jamestown and all the area has to offer. Fresh paint and new carpet throughout. With no rental cap, this property is an excellent opportunity for investors and homeowners alike. Don't miss out on this exceptional offering!

16. 2026-04-15
    price $214,900 419-char remark

    Show marketing remark (419 chars)

    This 2-bedroom/1.5 bath condo is located off of Jamestown Road nestled back in Raleigh Square. Minutes from Colonial Parkway, Colonial Williamsburg Rt 5 & and Rt 199. Just down the Road from Jamestown and all the area has to offer. Fresh paint and new carpet throughout. With no rental cap, this property is an excellent opportunity for investors and homeowners alike. Don't miss out on this exceptional offering!

17. 2026-03-07
    listed $219,500 Active
18. 2026-03-06
    listed $219,500 Active 417-char remark

    Show marketing remark (419 chars)

    This 2-bedroom/1.5 bath condo is located off of Jamestown Road nestled back in Raleigh Square. Minutes from Colonial Parkway, Colonial Williamsburg Rt 5 & and Rt 199. Just down the Road from Jamestown and all the area has to offer. Fresh paint and new carpet throughout. With no rental cap, this property is an excellent opportunity for investors and homeowners alike. Don't miss out on this exceptional offering!

19. 2026-03-06
    listed $219,500 Active 419-char remark

    Show marketing remark (419 chars)

    This 2-bedroom/1.5 bath condo is located off of Jamestown Road nestled back in Raleigh Square. Minutes from Colonial Parkway, Colonial Williamsburg Rt 5 & and Rt 199. Just down the Road from Jamestown and all the area has to offer. Fresh paint and new carpet throughout. With no rental cap, this property is an excellent opportunity for investors and homeowners alike. Don't miss out on this exceptional offering!

ⓘ 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: $1,038 · $87/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$724/yr (+$60/mo · 69.7%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $21,961
• − Mortgage interest: −$12,038
• − Property taxes: −$1,038
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − HOA: −$3,000
• − Depreciation: −$6,252
• Taxable loss: −$4,955
• Est. tax savings @ 24.0%: +$1,189
• After-tax cash flow: $-98/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)

No district data.

Livability — Williamsburg

• Score: 84/100
• State rank: #31
• US rank: #734

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Williamsburg City · 55,270 people
• City population: 101,073
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 55,270
• Household income: $105,431
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1770.0

Population outlook (James City County) Hauer SSP2

• Today (2025): 84,286 people
• By 2030: 89,687 · +6.4%
• By 2040: 99,580 · +18.1%
• By 2050: 108,487 · +28.7%
• By 2075: 128,950 · +53.0%
• By 2100: 138,702 · +64.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 14% Two or more races 9% Hispanic / Latino 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 3% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 1% Chinese 1%

Political lean MEDSL · James City

• 2024 margin: Lean D (+6.2) · D 52.5% · R 46.3% · Other 1.1%
• 2008→2024 swing: +15.5pp toward D · 2008: -9.2pp · 2024: 6.2pp
• All cycles: 2024: D+6.2 2020: D+4.8 2016: R+5.1 2012: R+12.1 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -345.15%
• Current HPI: 240.1637
• Rent YoY: ▲ 5.21%
• 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

-2.1% since first listed

6 events — show timeline

• 2026-04-15 Price Changed $214,900 REINMLS
• 2026-04-15 Price Changed $214,900 BRIGHT MLS
• 2026-04-15 Price Changed $214,900 WMLS
• 2026-03-07 Listed $219,500 BRIGHT MLS
• 2026-03-06 Listed $219,500 WMLS
• 2026-03-06 Listed $219,500 REINMLS

Property tax history

+3.0%/yr

Latest (2025): $1,038 · +6.4% YoY. Source: county tax records.