20 A Lakeside Cres · Hampton, VA 23669

$149,900

2 bd · 2.0 ba · 1,013 sqft · Condo · 244 Days on market

Built 1988 Good condition $148/sqft · 17% below area Est $181k · 17% under $365/mo HOA · 22% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +10.3/30.0
• 1% rule +6.1/10.0
• Schools +5.5/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• DSCR +2.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stylish first floor level condo has new carpet and paint throughout. Nice size living room with fireplace and kitchen with a desk area or coffee bar. There are 2 large bedrooms and primary bedroom has good sized closet and shelving unit. This condo is open and airy and is conveniently located.

Key facts

• New carpet
• New paint
• First floor level

Tags

• FIRST FLOOR LEVEL
• NEW CARPET
• NEW PAINT
• LIVING ROOM WITH FIREPLACE
• KITCHEN WITH DESK AREA
• COFFEE BAR

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-83 ($-999/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (8.0% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.6% vs local median 4.5% in Hampton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#133 in VA, #4,302 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities D+, commute F.
• Hampton City Public School District (urban): math 60% / reading 70% proficiency, ranked #40 of 131 in VA (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.4%/yr); 232 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 68 units permitted in Hampton city in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Hampton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 244 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 80% 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 $131,912 (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 244 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 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?
8. 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.
9. 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.
10. 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: 1.11% ✓
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• GRM: 7.5

CMA / ARV

• ARV (median comp): $180,940
• List price: $149,900
• Delta: -17.16%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.40×
• Total profit: $-25,148
• Equity at exit: $22,351

10-year hold

• IRR: -3.0%
• Equity multiple: 0.77×
• Total profit: $-9,617
• Equity at exit: $12,961

Cash invested: $41,972 (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 23669

• Rents YoY: 5.4%
• Active inventory: 232
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,668 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$365
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-83

Break-even live

Break-even rent $1,773

Max offer price $137,854

Occupancy floor 100%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Fishers Ct Hampton, VA	2.0	2.0	1369	$1,999	$1.46	43d	1	0.55mi
1102 Celia Ct Hampton, VA	2.0	2.0	1370	$2,100	$1.53	43d	1	0.59mi
600 Freeman Dr Hampton, VA	1.0–2.0	1.0–2.0	892	$2,008	$2.25	1d	8	0.71mi
135 Pine Chapel Rd Hampton, VA	1.0–2.0	1.0–1.5	830	$1,490	$1.80	2d	9	0.78mi
1625 W Pembroke Ave Unit 7 Hampton, VA	2.0	1.5	950	$1,250	$1.32	43d	1	0.78mi
1625 W Pembroke Ave Hampton, VA	2.0	1.5	950	$1,250	$1.32	23d	1	0.79mi
18 Tall Pine Dr Hampton, VA	2.0	1.0	800	$1,365	$1.71	21d	5	0.86mi
702 Rutherford St Hampton, VA	3.0	2.0	1445	$1,795	$1.24	23d	1	0.88mi
708 Norwood Cir Hampton, VA	2.0	1.0	720	$1,050	$1.46	23d	1	0.96mi
708 Westwood Ave Hampton, VA	3.0	2.5	1300	$2,300	$1.77	14d	1	1.01mi
622 Westwood Ave Hampton, VA	1.0	1.0	1380	$1,000	$0.72	23d	1	1.09mi
640 Homestead Ave Hampton, VA	3.0	1.0	852	$1,750	$2.05	43d	1	1.10mi
603 La Salle Ave Hampton, VA	2.0	1.0	759	$1,000	$1.32	43d	1	1.12mi
2 Abbott Dr Hampton, VA	1.0–3.0	1.0–3.5	1187	$2,224	$1.87	1d	18	1.12mi
901 W Queen St Hampton, VA	2.0–3.0	1.5–2.5	1096	$1,250	$1.14	43d	1	1.19mi
507 Highland Ave Hampton, VA	2.0	1.0	925	$1,500	$1.62	14d	1	1.20mi
640 Rolfe St Hampton, VA	3.0	2.0	1100	$2,000	$1.82	43d	1	1.25mi
504 Homestead Ave Hampton, VA	1.0	1.0	750	$1,195	$1.59	10d	1	1.26mi
7 W Lewis Rd Hampton, VA	3.0	2.0	1208	$2,425	$2.01	21d	1	1.32mi
607 Lee St Hampton, VA	3.0	1.5	1404	$2,150	$1.53	43d	1	1.33mi
1587 Briarfield Rd Hampton, VA	2.0–3.0	1.5–2.0	985	$1,240	$1.26	2d	9	1.33mi
2018 Cunningham Dr Hampton, VA	1.0–3.0	1.0–1.5	997	$1,538	$1.54	1d	25	1.38mi
2217 Todds Ln Hampton, VA	2.0	2.5	1300	$1,450	$1.12	43d	1	1.41mi
624 Pennsylvania Ave Hampton, VA	3.0	1.0	912	$1,600	$1.75	23d	1	1.45mi
613 Delaware Ave Hampton, VA	3.0	2.0	1082	$1,900	$1.76	2d	1	1.48mi

HOA detail condo

• Monthly dues: $365 · $4,380/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $149,900 Active 244 DOM
2. 2026-06-17
   days on market $149,900 Active 243 DOM
3. 2026-06-16
   days on market $149,900 Active 242 DOM
4. 2026-06-15
   days on market $149,900 Active 241 DOM
5. 2026-06-13
   days on market $149,900 Active 238 DOM
6. 2026-06-09
   days on market $149,900 Active 235 DOM
7. 2026-06-08
   days on market $149,900 Active 234 DOM
8. 2026-06-07
   days on market $149,900 Active 233 DOM
9. 2026-06-03
   days on market $149,900 Active 229 DOM
10. 2026-06-02
    days on market $149,900 Active 228 DOM
11. 2026-06-01
    days on market $149,900 Active 227 DOM
12. 2026-05-31
    days on market $149,900 Active 226 DOM
13. 2026-04-17
    status Active 299-char remark

    Show marketing remark (299 chars)

    This stylish first floor level condo has new carpet and paint throughout. Nice size living room with fireplace and kitchen with a desk area or coffee bar. There are 2 large bedrooms and primary bedroom has good sized closet and shelving unit. This condo is open and airy and is conveniently located.

14. 2026-03-30
    status Under Contract 299-char remark

    Show marketing remark (299 chars)

    This stylish first floor level condo has new carpet and paint throughout. Nice size living room with fireplace and kitchen with a desk area or coffee bar. There are 2 large bedrooms and primary bedroom has good sized closet and shelving unit. This condo is open and airy and is conveniently located.

15. 2026-03-23
    historical Active Under Contract 299-char remark

    Show marketing remark (299 chars)

    This stylish first floor level condo has new carpet and paint throughout. Nice size living room with fireplace and kitchen with a desk area or coffee bar. There are 2 large bedrooms and primary bedroom has good sized closet and shelving unit. This condo is open and airy and is conveniently located.

16. 2025-09-29
    listed $149,900 Active 299-char remark

    Show marketing remark (299 chars)

    This stylish first floor level condo has new carpet and paint throughout. Nice size living room with fireplace and kitchen with a desk area or coffee bar. There are 2 large bedrooms and primary bedroom has good sized closet and shelving unit. This condo is open and airy and is conveniently located.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,015
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$4,380
• − Depreciation: −$4,361
• Taxable loss: −$3,323
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $-202/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This stylish first-floor condo is in good condition with minimal repairs needed. Painting and landscaping improvements would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in bathrooms — Fresh flooring improves aesthetics and functionality
• Both New kitchen backsplash — Enhances kitchen aesthetics and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms — Fresh flooring improves aesthetics and functionality ↑
• Both New kitchen backsplash — Enhances kitchen aesthetics and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hampton City Public School District
• NCES district ID: 5101800
• Math proficiency: 60% ▼ -21.00%
• Reading proficiency: 70% ▼ -4.00%
• Median HH income: $50,089
• Composite: 55.19/100
• National rank: #1272
• State rank: #40 of 131 in VA

Livability — Hampton

• Score: 75/100
• State rank: #133
• US rank: #4302

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hampton, VA
• County: Hampton City · 132,421 people
• City population: 132,421
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 39,884
• Household income: $71,222
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 2130.0

Population outlook (Hampton County) Hauer SSP2

• Today (2025): 134,055 people
• By 2030: 131,753 · -1.7%
• By 2040: 125,017 · -6.7%
• By 2050: 116,825 · -12.9%
• By 2075: 97,033 · -27.6%
• By 2100: 76,188 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 46% White 39% Two or more races 9% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Hampton

• 2024 margin: Solid D (+39.9) · D 69.2% · R 29.4% · Other 1.4%
• 2008→2024 swing: +1.0pp no change · 2008: 38.9pp · 2024: 39.9pp
• All cycles: 2024: D+39.9 2020: D+42.2 2016: D+37.8 2012: D+45.4 2008: D+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.40%
• Current HPI: 276.4636
• Rent YoY: ▲ 5.44%
• 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

4 events — show timeline

• 2026-04-17 Relisted — REINMLS
• 2026-03-30 Pending — REINMLS
• 2026-03-23 Contingent — REINMLS
• 2025-09-29 Listed $149,900 REINMLS