2980 St Albans Cmns · Virginia Beach, VA 23452

$198,000

2 bd · 1.0 ba · 1,021 sqft · Condo public records · 238 Days on market

Built 1984 $364/mo HOA · 19% 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
• 1% rule +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Virginia Beach condo with easy access to Malls, shopping and Interstates.

Key facts

• $364 HOA
• 2 parking spots
• Built 1984

Property features AI

Finance

• HOA & community: Condo association: St Albans Glen Condominium Association; Managed by The Select Group; Condo fee $364 monthly; Community amenities include pool, ground maintenance, and trash pickup

Exterior

• Parking: Assigned/reserved parking for 2 spaces
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Attached condo; Contemporary, low-rise style; Single-story living level; Unit on condo level 1
• Construction: Asphalt shingle roof; Slab foundation
• Exterior features: Wood siding; Pool (community); Ground maintenance (community); Trash pickup (community)

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher; Garbage disposal; Breakfast area adjacent to kitchen
• Bedrooms: First-floor master bedroom; Master bedroom with bath; Total rooms: 5
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom; Master bath attached to primary bedroom
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Carpet and laminate flooring; Breakfast area; Utility closet
• Laundry & utility: Washer hookup; Dryer hookup; Utility closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $198k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (5.6% below list).
• Recommended offer: $174k (12.0% below list) — sets the bar for market timing.
• 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: Brookwood Elementary (math 56% / reading 68%, grade B, #480 of 1,108 statewide, top 46%, 571 students, 66% FRL); Green Run High (math 64% / reading 69%, grade B, #195 of 319 statewide, top 62%, 1,517 students, 69% FRL) — zoned schools average 68% FRL vs 28% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 226 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1k of loan paydown is wiped out by about $6k 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 238 days — a 12% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $198k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,240 (12.0% 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 238 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.94% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.87%
• DSCR: 0.87
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.92% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.34×
• Total profit: $-36,687
• Equity at exit: $29,522

10-year hold

• IRR: -6.8%
• Equity multiple: 0.52×
• Total profit: $-26,420
• Equity at exit: $17,119

Cash invested: $55,440 (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 23452

• Rents YoY: 4.9%
• Active inventory: 226
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,869 high
• Mortgage (P&I): −$1,038
• Tax from tax record: −$124 /mo · $1,491/yr
• Insurance: −$82
• HOA: −$364
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-133

Break-even live

Break-even rent $2,037

Max offer price $174,541

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Nottinghill Park Virginia Beach, VA	1.0	1.0	846	$2,200	$2.60	23d	1	0.07mi
526 Glenn Regis Way Virginia Beach, VA	2.0	2.0	969	$1,799	$1.86	4d	1	0.13mi
2933 Lyme Regis Quay Virginia Beach, VA	2.0	2.0	1032	$1,700	$1.65	23d	1	0.15mi
666 Rivers Reach Virginia Beach, VA	2.0	2.0	1032	$1,600	$1.55	14d	1	0.15mi
2914 Lyme Regis Quay Virginia Beach, VA	2.0	2.0	1057	$1,700	$1.61	23d	1	0.20mi
526 Pheasant Run Virginia Beach, VA	2.0	2.0	1057	$1,800	$1.70	23d	1	0.21mi
344 Dillon Dr Virginia Beach, VA	3.0	1.5	1042	$2,400	$2.30	23d	1	0.26mi
3001 Reflections Way Virginia Beach, VA	1.0–2.0	1.0–2.0	864	$2,105	$2.44	1d	36	0.29mi
3321 Rainier Ct Virginia Beach, VA	2.0	2.5	1100	$1,600	$1.45	21d	1	0.68mi
3444 Terrazzo Trl Virginia Beach, VA	3.0	2.0	1217	$1,650	$1.36	4d	1	0.75mi
3424 Rainey Rd Virginia Beach, VA	3.0	1.0	1002	$1,995	$1.99	7d	1	0.79mi
124 Palm Beach Pl Virginia Beach, VA	1.0–2.0	1.0	786	$1,475	$1.88	4d	5	0.84mi
212 Paladin Dr Virginia Beach, VA	3.0	2.0	1456	$2,800	$1.92	23d	1	0.95mi
129 S Plaza Trl Virginia Beach, VA	3.0	1.0	1456	$2,000	$1.37	23d	1	0.95mi
2925 Theodorus Ct Virginia Beach, VA	3.0	1.5	1120	$2,000	$1.79	4d	1	1.37mi
3416 Alcott Rd Virginia Beach, VA	3.0	1.0	1043	$1,800	$1.73	23d	1	1.37mi
3416 Hollygreen Dr Virginia Beach, VA	2.0	1.0	960	$1,754	$1.83	23d	5	1.47mi
932 Gossman Dr Virginia Beach, VA	3.0	1.5	1430	$2,300	$1.61	21d	1	1.47mi
3600 Malibu Palms Dr Virginia Beach, VA	1.0–3.0	1.0–1.5	1025	$1,827	$1.78	2d	19	1.49mi

HOA detail condo

• Monthly dues: $364 · $4,368/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $198,000 Active 238 DOM
2. 2026-06-17
   days on market $198,000 Active 237 DOM
3. 2026-06-16
   days on market $198,000 Active 236 DOM
4. 2026-06-15
   days on market $198,000 Active 235 DOM
5. 2026-06-13
   days on market $198,000 Active 233 DOM
6. 2026-06-09
   days on market $198,000 Active 229 DOM
7. 2026-06-08
   days on market $198,000 Active 228 DOM
8. 2026-06-07
   days on market $198,000 Active 227 DOM
9. 2026-06-03
   days on market $198,000 Active 223 DOM
10. 2026-06-02
    days on market $198,000 Active 222 DOM
11. 2026-06-01
    days on market $198,000 Active 221 DOM
12. 2026-05-31
    days on market $198,000 Active 220 DOM
13. 2025-10-23
    listed $198,000 Active
14. 2014-05-12
    soldstatus $80,000
15. 2004-03-17
    soldstatus $79,000

ⓘ 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: $1,491 · $124/mo
• Projected year-2 tax: $1,624 · $135/mo
• Expected delta: +$133/yr (+$11/mo · 8.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,425
• − Mortgage interest: −$11,091
• − Property taxes: −$1,491
• − Insurance: −$990
• − Repairs & maintenance: −$1,794
• − Management: −$1,794
• − HOA: −$4,368
• − Depreciation: −$5,760
• Taxable loss: −$4,863
• Est. tax savings @ 24.0%: +$1,167
• After-tax cash flow: $-426/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): 58,455
• Household income: $79,085
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2293.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 60% Black 20% Two or more races 10% Hispanic / Latino 9% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Italian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 6% Tagalog/Filipino 2% Other Asian/Pacific 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: ▼ -363.80%
• Current HPI: 328.5435
• Rent YoY: ▲ 4.92%
• 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

+150.6% since first listed

3 events — show timeline

• 2025-10-23 Listed $198,000 REINMLS
• 2014-05-12 Sold (Public Records) $80,000 Public Records
• 2004-03-17 Sold (Public Records) $79,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,491 · +5.9% YoY. Source: county tax records.