1904 Millpoint Ln · Virginia Beach, VA 23456

$310,000

3 bd · 1.5 ba · 1,322 sqft · Townhouse public records · 27 Days on market

Built 1986 Est $320k · at est.

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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 +16.4/30.0
• ARV discount +8.9/15.0
• Schools +6.4/10.0
• DSCR +5.1/10.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Here's the ONE you've been waiting for: move-in ready and affordable! This delightful townhouse is located in a quiet neighborhood with off street parking. You will be happy to see the fresh (neutral) paint throughout, LVP on the 1st floor and new carpet in the upstairs bedrooms. Nearby are excellent schools, playgrounds and shopping. Adding to the affordability, the seller is leaving all kitchen appliances and as well as the 2nd floor washer & dryer.

Key facts

• Kitchen appliances
• Off street parking
• Fresh paint

Tags

• OFF STREET PARKING
• FRESH PAINT
• LVP ON THE 1ST FLOOR
• NEW CARPET
• KITCHEN APPLIANCES
• 2ND FLOOR WASHER & DRYER

Property features AI

Finance

• Other: Located in the Salem Lakes neighborhood
• HOA & community: No HOA (no association, no management company, no HOA fees)

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; 2 stories (2 living levels); Slab foundation; Simple ownership
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Full wood fence enclosing the back; Porch

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: Master bedroom with ensuite; Additional bedroom
• Flooring: Carpet; Ceramic; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (with air); Electric heating; Central air
• Interior features: Wood-burning fireplace; Porch; Utility closet
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $310k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/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 $268k (13.6% below list).
• Recommended offer: $268k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Salem Elementary (math 77% / reading 82%, grade A, #141 of 1,108 statewide, top 14%, 556 students, 36% FRL); Landstown High (math 67% / reading 86%, grade A-, #99 of 319 statewide, top 31%, 2,226 students, 38% FRL).
• Market conditions: Rents rising (+3.8%/yr); 365 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $9k 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 27 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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.
• Current owner paid $160k; list at $310k implies a 94% gain — meaningful room to come down on a strong offer.

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 $267,831 (13.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.86% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $319,924
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1910 Lantana Ct	0.14mi	3/2.5	1,356 (+3%)	1mo	$315,000	$232	84
3919 Lantana Pl	0.12mi	3/2.5	1,356 (+3%)	10mo	$295,000	$218	78
3902 Kiwanis Ct	0.19mi	3/2.5	1,417 (+7%)	4mo	$320,000	$226	72
3903 Kiwanis Ct	0.21mi	3/2.5	1,417 (+7%)	5mo	$343,000	$242	70
3982 Kiwanis Loop	0.22mi	3/1.5	1,153 (-13%)	2mo	$301,000	$261	66
3927 Kiwanis Loop	0.16mi	3/2.5	1,162 (-12%)	5mo	$294,000	$253	64
3950 Lantana Pl	0.08mi	3/2.5	1,498 (+13%)	8mo	$321,000	$214	64
4036 Rainbow Dr	0.63mi	3/1.5	1,307 (-1%)	9mo	$305,000	$233	61
3938 Kiwanis Loop	0.20mi	3/2.5	1,153 (-13%)	7mo	$297,000	$258	60
4121 Laurel Green Cir	0.42mi	2/1.0 (-1)	1,124 (-15%)	2mo	$255,000	$227	47
5036 Glenwood Way	0.69mi	3/2.5	1,453 (+10%)	2mo	$373,000	$257	46
5053 Heathglen Cir	0.42mi	2/2.5 (-1)	1,152 (-13%)	9mo	$299,900	$260	43

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.57×
• Total profit: $-37,133
• Equity at exit: $46,222

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-9,591
• Equity at exit: $26,803

Cash invested: $86,800 (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 23456

• Rents YoY: 3.8%
• Active inventory: 365
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,678 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$187 /mo · $2,248/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$562
• Net cashflow: $174

Break-even live

Break-even rent $2,458

Max offer price $310,000

Occupancy floor 89%

Sensitivity live

Price	-10% $349	-5% $261	+0% $174	+5% $86	+10% $-2
Rent	-10% $-38	-5% $68	+0% $174	+5% $280	+10% $385
Rate	-1.0pp $330	-0.5pp $253	base $174	+0.5pp $93	+1.0pp $12

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2009 Inverrary Ct Virginia Beach, VA	3.0	2.5	1500	$2,440	$1.63	13d	1	0.12mi
3931 Kiwanis Loop Virginia Beach, VA	3.0	2.5	1162	$2,300	$1.98	5d	1	0.15mi
2016 Stormy Ct Virginia Beach, VA	4.0	3.0	1873	$2,800	$1.49	24d	1	0.25mi
1804 Rock Lake Loop Virginia Beach, VA	3.0	2.5	1602	$2,395	$1.50	8d	1	0.36mi
1792 Moonstone Dr Virginia Beach, VA	3.0	2.5	1756	$2,950	$1.68	24d	1	0.42mi
1792 Moonstone Dr Virginia Beach, VA	3.0	2.5	1756	$2,950	$1.68	17d	1	0.42mi
2245 Speckled Rock Ln Virginia Beach, VA	4.0	3.0	1762	$2,900	$1.65	18d	1	0.49mi
5036 Glenwood Way Virginia Beach, VA	3.0	2.5	1455	$2,495	$1.71	8d	1	0.72mi
3829 Shooting Star Dr Virginia Beach, VA	4.0	1.5	1296	$2,950	$2.28	15d	1	0.81mi
5140 Glenwood Way Virginia Beach, VA	3.0	2.5	1450	$2,195	$1.51	22d	1	0.82mi
4244 Spruce Knob Rd Virginia Beach, VA	3.0	3.0	1710	$2,700	$1.58	15d	1	0.86mi
1785 River Rock Arch Virginia Beach, VA	3.0	2.0	1438	$2,350	$1.63	15d	1	0.90mi
1744 River Rock Arch Virginia Beach, VA	3.0	2.0	1456	$2,495	$1.71	18d	1	0.94mi
4353 Cattail Ln #28 Virginia Beach, VA	3.0	2.5	1695	$2,600	$1.53	11d	1	0.99mi
1752 Halesworth Ln Unit 1 Virginia Beach, VA	2.0	2.5	1329	$2,200	$1.66	24d	1	1.03mi
1752 Halesworth Ln Virginia Beach, VA	2.0	2.5	1324	$2,190	$1.65	24d	1	1.04mi
4529 Turnworth Arch Virginia Beach, VA	4.0	2.5	1867	$2,600	$1.39	11d	1	1.04mi
4529 Turnworth Arch Unit 1 Virginia Beach, VA	3.0	2.5	1800	$2,600	$1.44	8d	1	1.04mi
4369 Turnworth Arch Virginia Beach, VA	3.0	2.5	1778	$2,450	$1.38	24d	1	1.06mi
1728 Vankar Dr #104 Virginia Beach, VA	2.0	2.0	1293	$2,495	$1.93	8d	1	1.10mi
1728 Vankar Dr #307 Virginia Beach, VA	2.0	2.0	1316	$2,500	$1.90	18d	1	1.10mi
4156 Clarendon Way Virginia Beach, VA	2.0	2.5	1329	$2,400	$1.81	24d	1	1.12mi
3849 Clarendon Way Unit 1 Virginia Beach, VA	2.0	2.5	1349	$2,200	$1.63	13d	1	1.13mi
3500 Irvington Ct Virginia Beach, VA	2.0	2.0	999	$2,000	$2.00	24d	1	1.30mi
3702 Canadian Arch Virginia Beach, VA	2.0	1.5	1100	$1,700	$1.55	5d	1	1.33mi
4149 MacArthur Rd Virginia Beach, VA	3.0	2.0	1554	$2,145	$1.38	11d	1	1.47mi

Listing history 11 events

1. 2026-06-02
   status $310,000 Under Contract 27 DOM
2. 2026-06-01
   days on market $310,000 Active 27 DOM
3. 2026-05-31
   days on market $310,000 Active 26 DOM
4. 2026-05-05
   listed $315,000 Active
5. 2019-07-02
   soldstatus $160,000
6. 2019-06-18
   status Under Contract
7. 2019-06-03
   price $160,000
8. 2019-05-06
   listed $154,900 Active
9. 2009-10-20
   soldstatus $153,000
10. 2004-02-26
    soldstatus $83,000
11. 2001-09-12
    soldstatus $61,570

ⓘ 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: $2,248 · $187/mo
• Projected year-2 tax: $2,542 · $212/mo
• Expected delta: +$294/yr (+$25/mo · 13.1%)

ⓘ 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 9/10 Extreme 7 d/yr ≥105°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,140
• − Mortgage interest: −$17,365
• − Property taxes: −$2,248
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,571
• − Management: −$2,571
• − Depreciation: −$9,018
• Taxable loss: −$3,183
• Est. tax savings @ 24.0%: +$764
• After-tax cash flow: $2,849/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): 61,911
• Household income: $130,533
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 390.0

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 0.60)
• Race & ethnicity: White 60% Black 13% Asian 12% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 85% English-only · Tagalog/Filipino 4% Spanish 4% Other Indo-European 2%

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: ▼ -328.17%
• Current HPI: 318.3094
• Rent YoY: ▲ 3.78%
• 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

+411.6% since first listed

8 events — show timeline

• 2026-05-05 Listed $315,000 REINMLS
• 2019-07-02 Sold (Public Records) $160,000 Public Records
• 2019-06-18 Pending — REINMLS
• 2019-06-03 Price Changed $160,000 REINMLS
• 2019-05-06 Listed $154,900 REINMLS
• 2009-10-20 Sold (Public Records) $153,000 Public Records
• 2004-02-26 Sold (Public Records) $83,000 Public Records
• 2001-09-12 Sold (Public Records) $61,570 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,248 · +2.3% YoY. Source: county tax records.