88 Emeraude Plage Unit B · Hampton, VA 23666

$119,000

2 bd · 2.0 ba · 922 sqft · Condo public records · 119 Days on market

Built 1987 $287/mo HOA · 20% of rent

---

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 +15.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +5.5/10.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

Key facts

• Cathedral ceilings
• Covered balconies
• Cozy fireplace

Tags

• GARDEN-STYLE CONDOMINIUM
• MARINER'S POINT COMMUNITY
• CATHEDRAL CEILINGS
• SKYLIGHT
• COZY FIREPLACE
• COVERED BALCONIES

Property features AI

Finance

• Other: Approx. 0.0121 acres (lot); Virtual 3D tour available
• HOA & community: Condominium association (Mariners Point Condominium Association); Association management: Harrison & Lear Inc.; Condo fee $287 monthly; POA monthly fees $0

Exterior

• Parking: Assigned/reserved parking (1 space)
• Utilities: City water; City sewer; Electric water heater; Electric power
• Home design: Attached condo; Cluster / Low-rise style; 2 stories; Condo with 1 living level; Condo unit on level 2; Facing city
• Construction: Vinyl siding; Asphalt shingle roof; Slab foundation
• Exterior features: Balcony; Porch; Ground maintenance provided by condo association; City view

Interior

• Kitchen: Refrigerator
• Bedrooms: Master bedroom with ensuite; First-floor master bedroom; Additional bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Forced hot air; Central air conditioning
• Interior features: Cathedral ceiling; Wood-burning fireplace; Scuttle (attic) access
• Laundry & utility: Washer; Dryer; 220V electrical outlet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $41 ($487/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $108k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.5% in Hampton — 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 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.
• Zoned schools: Alfred S. Forrest Elementary (math 47% / reading 62%, grade C, #650 of 1,108 statewide, top 62%, 540 students, 85% FRL); Bethel High (math 64% / reading 84%, grade B+, #120 of 319 statewide, top 38%, 1,777 students, 86% FRL) — zoned schools average 85% FRL vs 49% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.0%/yr); 231 active listings in the ZIP; 20 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 $823 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 119 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 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 20% 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 $108,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.20% ✓
• Cap rate: 6.70%
• Cash-on-cash: 1.46%
• DSCR: 1.07
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.55×
• Total profit: $-14,994
• Equity at exit: $17,743

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-2,613
• Equity at exit: $10,289

Cash invested: $33,320 (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 23666

• Home prices YoY: -15.7%
• Rents YoY: 4.0%
• Active inventory: 231
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,424 high
• Mortgage (P&I): −$624
• Tax from tax record: −$124 /mo · $1,484/yr
• Insurance: −$50
• HOA: −$287
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $41

Break-even live

Break-even rent $1,373

Max offer price $119,000

Occupancy floor 92%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1600 Pennwood Dr Hampton, VA	2.0	1.0	881	$1,350	$1.53	43d	6	0.16mi
1112 74th St Newport News, VA	3.0	1.0	928	$1,500	$1.62	21d	1	1.30mi
18 Tall Pine Dr Hampton, VA	2.0	1.0	800	$1,365	$1.71	21d	5	1.31mi
5014 Hazelwood Rd Newport News, VA	3.0	1.0	955	$1,900	$1.99	1d	1	1.32mi
1587 Briarfield Rd Hampton, VA	2.0–3.0	1.5–2.0	985	$1,240	$1.26	2d	9	1.32mi
39 Cape Dorey Dr Hampton, VA	1.0	1.0	800	$1,050	$1.31	7d	1	1.37mi
100 Monticello Mews Hampton, VA	1.0–3.0	1.0–2.0	1175	$2,379	$2.02	2d	15	1.38mi
65 Cape Dorey Dr Unit 3A Hampton, VA	2.0	2.0	1035	$1,495	$1.44	43d	1	1.39mi
65 Cape Dorey Dr Unit 3A Hampton, VA	2.0	2.0	1035	$1,395	$1.35	23d	1	1.39mi
59 Wells Ct Hampton, VA	1.0	1.0	602	$1,025	$1.70	43d	1	1.40mi
6 Bellacasa Way Unit 6-304 Hampton, VA	1.0	1.5	1119	$1,735	$1.55	17d	1	1.41mi
7 Bellacasa Way Unit 7-305 Hampton, VA	1.0	1.5	1079	$1,700	$1.58	17d	1	1.43mi
326 Wells Ct Hampton, VA	1.0	1.0	650	$1,150	$1.77	43d	1	1.45mi
102 Wells Ct Hampton, VA	2.0	1.0	734	$1,200	$1.63	43d	1	1.47mi
131 Davenport Ct Unit 131 Hampton, VA	1.0	1.0	602	$1,200	$1.99	43d	1	1.47mi
126 Wells Ct Hampton, VA	1.0	1.0	602	$1,100	$1.83	17d	1	1.47mi
139 Haverford Ct Hampton, VA	1.0	1.0	602	$1,095	$1.82	43d	1	1.48mi
139 Haverford Ct Hampton, VA	1.0	1.0	602	$995	$1.65	23d	1	1.48mi
133 Haverford Ct Hampton, VA	1.0	1.0	602	$1,200	$1.99	23d	1	1.49mi
5 Ebbing Quay Unit 5B Hampton, VA	1.0	1.5	882	$1,395	$1.58	4d	1	1.50mi

HOA detail condo

• Monthly dues: $287 · $3,444/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-04-16
   status Under Contract

   Show marketing remark (778 chars)

   Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

2. 2026-04-16
   status Pending 778-char remark

   Show marketing remark (778 chars)

   Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

3. 2026-04-07
   historical Active Under Contract
4. 2026-04-02
   status Active
5. 2026-01-20
   historical Active Under Contract
6. 2026-01-05
   status Active

   Show marketing remark (778 chars)

   Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

7. 2026-01-05
   status Active 778-char remark

   Show marketing remark (778 chars)

   Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

8. 2025-10-01
   status Under Contract

   Show marketing remark (778 chars)

   Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

9. 2025-10-01
   status Pending 778-char remark

   Show marketing remark (778 chars)

   Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

10. 2025-09-22
    historical Active Under Contract
11. 2025-09-12
    listed $119,000 Active

    Show marketing remark (778 chars)

    Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

12. 2025-09-12
    listed $119,000 Active 778-char remark

    Show marketing remark (778 chars)

    Inviting one-level, second-floor garden-style condominium in the desirable Mariner’s Point community. Built in 1987, this home features cathedral ceilings, skylight, cozy fireplace, covered balconies, and attached storage. The primary bedroom includes an ensuite bath, offering comfort and convenience. HUD Case# 541-763658 IE (Insured Escrow), Property is sold “As-Is, ” with seller making no representations or warranties as to condition. Equal Housing Opportunity. Seller may contribute up to 3% toward buyer’s closing costs upon request. Don’t miss the 3D True Immersive Virtual Tour, allowing you to explore the home on any device, measure rooms, view the 3D dollhouse, and experience both interior and exterior details before stepping inside.

13. 2007-10-10
    soldstatus $135,000
14. 2001-09-04
    soldstatus $57,900

ⓘ 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: $1,484 · $124/mo
• Projected year-2 tax: $1,484 · $124/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $17,088
• − Mortgage interest: −$6,666
• − Property taxes: −$1,484
• − Insurance: −$595
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − HOA: −$3,444
• − Depreciation: −$3,462
• Taxable loss: −$1,297
• Est. tax savings @ 24.0%: +$311
• After-tax cash flow: $799/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: 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): 54,233
• Household income: $72,568
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2951.0

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 0.65)
• Race & ethnicity: Black 51% White 29% Two or more races 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Italian 1% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Vietnamese 1% Arabic 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: ▼ -49.01%
• Current HPI: 262.821
• Rent YoY: ▲ 4.05%
• 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

+105.5% since first listed

14 events — show timeline

• 2026-04-16 Pending — REINMLS
• 2026-04-16 Pending — WMLS
• 2026-04-07 Contingent — REINMLS
• 2026-04-02 Relisted — REINMLS
• 2026-01-20 Contingent — REINMLS
• 2026-01-05 Relisted — REINMLS
• 2026-01-05 Relisted — WMLS
• 2025-10-01 Pending — REINMLS
• 2025-10-01 Pending — WMLS
• 2025-09-22 Contingent — REINMLS
• 2025-09-12 Listed $119,000 WMLS
• 2025-09-12 Listed $119,000 REINMLS
• 2007-10-10 Sold (Public Records) $135,000 Public Records
• 2001-09-04 Sold (Public Records) $57,900 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,484 · +13.6% YoY. Source: county tax records.