1005 Queens Xing · Williamsburg, VA 23185

$260,000

2 bd · 2.5 ba · 1,204 sqft · Condo public records · 26 Days on market

Built 1997

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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 +12.0/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful move-in ready unit in desirable LaFontaine offers a combination of great price, convenient location and stress-free community living. Unit with a popular floor-plan: 1st level features open space living concept with an access to private outdoor patio, 2nd level features 2 spacious bedrooms with vaulted ceilings and lots of natural light. Stainless steel appliances convey, laminate flooring all throughout. Community pool to relax on a hot summer day, attached outdoor shed for extra storage space. Condo has been very loved and well maintained ready for new owners to move in and enjoy the perks of home ownership!

Key facts

• New steel front door
• Trane heat pump
• Chair rail woodwork

Tags

• ENCLOSED PRIVATE PATIO
• TRANE HEAT PUMP
• NEW STEEL FRONT DOOR
• HARDWOOD FLOORS
• OPEN-CONCEPT FLOOR PLAN
• CHAIR RAIL WOODWORK

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $-64 ($-762/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (29.1% below list).
• Recommended offer: $184k (29.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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); 389 active listings in the ZIP; 6 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; 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 $2k of loan paydown is wiped out by about $8k 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 26 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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 $177k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,316 (29.1% 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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.71% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 11.8

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: -16.0%
• Equity multiple: 0.42×
• Total profit: $-42,129
• Equity at exit: $38,767

10-year hold

• IRR: -4.7%
• Equity multiple: 0.66×
• Total profit: $-24,488
• Equity at exit: $22,480

Cash invested: $72,800 (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 23185

• Rents YoY: 5.2%
• Active inventory: 389
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,843 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$48 /mo · $574/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $-64

Break-even live

Break-even rent $1,924

Max offer price $248,782

Occupancy floor 98%

Sensitivity live

Price	-10% $84	-5% $10	+0% $-64	+5% $-137	+10% $-211
Rent	-10% $-209	-5% $-136	+0% $-64	+5% $9	+10% $82
Rate	-1.0pp $67	-0.5pp $3	base $-64	+0.5pp $-131	+1.0pp $-199

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 Queens Path Williamsburg, VA	2.0	2.0	1357	$2,300	$1.69	12d	1	0.28mi
1203 Jamestown Rd Unit A1 Williamsburg, VA	2.0	1.0	848	$1,275	$1.50	18d	1	0.58mi
117 Olde Jamestown Ct Williamsburg, VA	1.0	1.0	735	$1,250	$1.70	25d	1	0.72mi
3813 Staffordshire Ln Williamsburg, VA	3.0	1.5	1150	$1,700	$1.48	3d	1	0.75mi
4049 Midlands Rd Williamsburg, VA	2.0	1.5	1020	$1,650	$1.62	3d	1	0.84mi
3873 Strawberry Plains Rd Unit B Williamsburg, VA	1.0	1.0	714	$1,500	$2.10	14d	1	0.86mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $260,000 Active 26 DOM
2. 2026-06-18
   days on market $260,000 Active 23 DOM
3. 2026-06-17
   days on market $260,000 Active 22 DOM
4. 2026-06-16
   days on market $260,000 Active 21 DOM
5. 2026-06-15
   days on market $260,000 Active 20 DOM
6. 2026-06-13
   days on market $260,000 Active 18 DOM
7. 2026-06-09
   days on market $260,000 Active 14 DOM
8. 2026-06-08
   days on market $260,000 Active 13 DOM
9. 2026-06-07
   days on market $260,000 Active 12 DOM
10. 2026-06-05
    days on market $260,000 Active 9 DOM
11. 2026-06-03
    days on market $260,000 Active 8 DOM
12. 2026-06-02
    days on market $260,000 Active 7 DOM
13. 2026-06-01
    days on market $260,000 Active 6 DOM
14. 2026-05-31
    days on market $260,000 Active 5 DOM
15. 2026-05-26
    listed $260,000 Active
16. 2021-10-22
    soldstatus $177,000
17. 2021-10-21
    soldstatus $177,000 627-char remark

    Show marketing remark (627 chars)

    Beautiful move-in ready unit in desirable LaFontaine offers a combination of great price, convenient location and stress-free community living. Unit with a popular floor-plan: 1st level features open space living concept with an access to private outdoor patio, 2nd level features 2 spacious bedrooms with vaulted ceilings and lots of natural light. Stainless steel appliances convey, laminate flooring all throughout. Community pool to relax on a hot summer day, attached outdoor shed for extra storage space. Condo has been very loved and well maintained ready for new owners to move in and enjoy the perks of home ownership!

18. 2021-09-23
    listed $175,000 627-char remark

    Show marketing remark (627 chars)

    Beautiful move-in ready unit in desirable LaFontaine offers a combination of great price, convenient location and stress-free community living. Unit with a popular floor-plan: 1st level features open space living concept with an access to private outdoor patio, 2nd level features 2 spacious bedrooms with vaulted ceilings and lots of natural light. Stainless steel appliances convey, laminate flooring all throughout. Community pool to relax on a hot summer day, attached outdoor shed for extra storage space. Condo has been very loved and well maintained ready for new owners to move in and enjoy the perks of home ownership!

19. 2014-06-19
    soldstatus $137,000
20. 2011-08-26
    soldstatus $130,000
21. 2011-08-25
    soldstatus $130,000 236-char remark

    Show marketing remark (236 chars)

    Excellent condominium unit close to everything! Newer carpet, tile floors, all appliances, window treatments. Open floor plan, nice patio. Walk to the neighborhood pool! Enjoy life with no exterior maintenance. Lease to Purchase option.

22. 2011-06-01
    listed $139,999 236-char remark

    Show marketing remark (236 chars)

    Excellent condominium unit close to everything! Newer carpet, tile floors, all appliances, window treatments. Open floor plan, nice patio. Walk to the neighborhood pool! Enjoy life with no exterior maintenance. Lease to Purchase option.

23. 2010-05-16
    listed $149,999
24. 2008-08-15
    soldstatus $191,300
25. 2005-07-25
    soldstatus $183,000
26. 2002-07-03
    soldstatus $110,000
27. 2002-03-25
    listed $114,000
28. 2000-08-01
    soldstatus $101,750
29. 2000-04-04
    listed $106,500

ⓘ 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: $574 · $48/mo
• Projected year-2 tax: $2,132 · $178/mo
• Expected delta: +$1,558/yr (+$130/mo · 271.7%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $22,118
• − Mortgage interest: −$14,564
• − Property taxes: −$574
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$7,564
• Taxable loss: −$5,422
• Est. tax savings @ 24.0%: +$1,301
• After-tax cash flow: $539/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

+144.1% since first listed

15 events — show timeline

• 2026-05-26 Listed $260,000 FSBO.com
• 2021-10-22 Sold (Public Records) $177,000 Public Records
• 2021-10-21 Sold (MLS) $177,000 WMLS
• 2021-09-23 Listed $175,000 WMLS
• 2014-06-19 Sold (Public Records) $137,000 Public Records
• 2011-08-26 Sold (Public Records) $130,000 Public Records
• 2011-08-25 Sold (MLS) $130,000 WMLS
• 2011-06-01 Listed $139,999 WMLS
• 2010-05-16 Listed $149,999 WMLS
• 2008-08-15 Sold (Public Records) $191,300 Public Records
• 2005-07-25 Sold (Public Records) $183,000 Public Records
• 2002-07-03 Sold (MLS) $110,000 WMLS
• 2002-03-25 Listed $114,000 WMLS
• 2000-08-01 Sold (MLS) $101,750 WMLS
• 2000-04-04 Listed $106,500 WMLS

Property tax history

-5.0%/yr

Latest (2025): $574 · +23.6% YoY. Source: county tax records.