643 Crows Nest Ct #201 · Virginia Beach, VA 23462

$121,500

2 bd · 2.0 ba · 957 sqft · Condo · 49 Days on market

Built 1985 Good condition $430/mo HOA · 25% 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).

• Cash flow +18.0/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• DSCR +5.6/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Appreciation +0.0/10.0

Key facts

• $430 HOA
• Built 1985
• Listed 49 days

Property features AI

Finance

• HOA & community: HOA (Newpointe Condo) managed by Select Group; Monthly condo fee of $430

Exterior

• Parking: Assigned/reserved parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Attached condo (Lo Rise); Single-story layout; Entry on condominium level 2
• Construction: Slab foundation
• Exterior features: Vinyl siding; Composite roof

Interior

• Bedrooms: Condo unit on level 2
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: One fireplace; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $122k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $118k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Bayside Elementary (math 52% / reading 57%, grade C, #650 of 1,108 statewide, top 62%, 480 students, 74% FRL); Bayside High (math 63% / reading 75%, grade B, #170 of 319 statewide, top 55%, 1,983 students, 65% FRL) — zoned schools average 69% FRL vs 28% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.6%/yr); 220 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 666 units permitted in Virginia Beach city in 2024 (347 in 5+ unit buildings).
• This rent runs 30% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $840 of loan paydown is wiped out by about $4k 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 49 days — a 3% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: moderate flood risk; 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 $117,855 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.43% ✓
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.61% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.76×
• Total profit: $-8,078
• Equity at exit: $18,116

10-year hold

• IRR: 7.6%
• Equity multiple: 1.68×
• Total profit: $22,975
• Equity at exit: $10,505

Cash invested: $34,020 (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 23462

• Rents YoY: 5.6%
• Active inventory: 220
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,739 high
• Mortgage (P&I): −$637
• Tax est. 1.5%: −$152 /mo · $1,822/yr
• Insurance: −$51
• HOA: −$430
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $104

Break-even live

Break-even rent $1,607

Max offer price $121,500

Occupancy floor 89%

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: $30,375
• Closing costs: $3,645
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Crows Nest Ct Virginia Beach, VA	2.0	1.0	700	$1,700	$2.43	23d	1	0.05mi
608 Spirit Ct Virginia Beach, VA	2.0	1.0	866	$1,875	$2.17	7d	1	0.10mi
502 Wharf Ct Virginia Beach, VA	2.0	1.0	866	$1,495	$1.73	10d	1	0.15mi
5516 Seawall Ct Virginia Beach, VA	2.0–3.0	1.0–3.0	1125	$1,536	$1.36	1d	18	0.17mi
5619 Summit Arch Virginia Beach, VA	2.0	2.0	957	$1,650	$1.72	3d	1	0.18mi
5547 Lynbrook Lndg Virginia Beach, VA	3.0	1.0	820	$1,350	$1.65	17d	1	0.54mi
453 Peregrine St Virginia Beach, VA	2.0	1.0	994	$1,500	$1.51	23d	1	0.65mi
5414 Catina Arch Virginia Beach, VA	1.0–4.0	1.0–1.5	866	$1,717	$1.98	2d	10	0.77mi
5781 Lake Edward Dr Virginia Beach, VA	2.0	1.0–1.5	1075	$1,478	$1.37	2d	15	0.78mi
512 Featherstone Ct Unit 520102-F Virginia Beach, VA	1.0	1.0	897	$799	$0.89	4d	1	0.79mi
512 Featherstone Ct Unit 501-201D Virginia Beach, VA	2.0	1.0	897	$1,549	$1.73	23d	1	0.79mi
512 Featherstone Ct Unit 573F Virginia Beach, VA	3.0	1.0	1047	$1,675	$1.60	23d	1	0.79mi
5161 Weaver Dr Virginia Beach, VA	2.0–3.0	1.0	971	$1,549	$1.60	4d	4	0.88mi
5141 Gracewood Ln Unit 203 Virginia Beach, VA	1.0	1.0	748	$1,595	$2.13	20d	1	0.89mi
5433 Campus Dr Virginia Beach, VA	2.0	2.0	1000	$1,700	$1.70	2d	1	0.90mi
5301 Justin Ct Virginia Beach, VA	1.0–2.0	1.0	695	$1,599	$2.30	23d	12	0.90mi
5312 Justin Ct Unit 808-11-202E Virginia Beach, VA	1.0	1.0	550	$1,399	$2.54	23d	1	0.93mi
5312 Justin Ct Unit 800-21-102E Virginia Beach, VA	2.0	1.0	800	$1,599	$2.00	23d	1	0.93mi
5441 Greenwich Rd Virginia Beach, VA	1.0–2.0	1.0–2.0	1075	$3,149	$2.93	1d	13	1.09mi
6163 Kempsville Cir Norfolk, VA	1.0–3.0	1.0–2.0	1120	$2,523	$2.25	1d	12	1.44mi
5528 Carolanne Ter Virginia Beach, VA	2.0	2.0	950	$1,725	$1.82	1d	1	1.44mi
1060 Kempsville Rd Norfolk, VA	1.0	1.0	723	$1,775	$2.46	20d	1	1.49mi
1060 Kempsville Rd Norfolk, VA	1.0	1.0	914	$2,250	$2.46	16d	1	1.49mi
1060 Kempsville Rd Norfolk, VA	2.0	2.0	1070	$2,400	$2.24	44d	1	1.49mi

HOA detail condo

• Monthly dues: $430 · $5,160/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-02
   status $121,500 Under Contract 49 DOM
2. 2026-06-01
   days on market $121,500 Active 49 DOM
3. 2026-05-31
   days on market $121,500 Active 48 DOM
4. 2026-04-12
   listed $121,500 Active

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 67% 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 94% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,868
• − Mortgage interest: −$6,806
• − Property taxes: −$1,822
• − Insurance: −$608
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − HOA: −$5,160
• − Depreciation: −$3,535
• Taxable loss: −$401
• Est. tax savings @ 24.0%: +$96
• After-tax cash flow: $1,346/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 80/100 Cosmetic rehab

This well-maintained condo is in good condition with minor cosmetic updates needed to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value.
• Both Clean and maintain gutters — Keeps the property looking well-maintained and can prevent water damage to the siding and foundation.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean and maintain gutters — Keeps the property looking well-maintained and can prevent water damage to the siding and foundation. ↑

ⓘ 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: 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): 66,151
• Household income: $69,040
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 3906.0

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 0.68)
• Race & ethnicity: White 45% Black 32% Hispanic / Latino 12% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% 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: ▼ -269.19%
• Current HPI: 333.1908
• Rent YoY: ▲ 5.61%
• 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

1 event — show timeline

• 2026-04-12 Listed $121,500 REINMLS