1077 Sandy Narrows Ct · Virginia Beach, VA 23454

$279,999

3 bd · 2.0 ba · 1,056 sqft · Condo public records · 25 Days on market

Built 1978 $235/mo HOA · 10% of rent

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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 +12.3/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come see the pride in ownership in this stunning, updated home just minutes from the beach! Featuring a brand-new roof, HVAC, and water heater, making this home move in ready. Featuring one of the largest lots in the community, that's been a meticulously maintained offering a relaxing an inviting summer retreat along with it's prime location minutes from the Oceanfront & Croatan Beach, Ocean Breeze Waterpark, & The Virginia Aquarium. Hurry this one won't last long!!!

Key facts

• Hvac
• Water heater
• Largest lots

Tags

• NEW ROOF
• HVAC
• WATER HEATER
• LARGEST LOTS
• PRIME LOCATION
• MINUTES FROM THE BEACH

Property features AI

Finance

• HOA & community: Virginia Village Condo HOA; HOA provides ground maintenance, trash pickup and water; Monthly HOA fee of 235; Managed by The Select Group

Exterior

• Parking: 2 assigned/reserved spaces; Street parking available
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Detached single-family home; Modular ranch style; Single-story (one living level); Condo ownership
• Construction: Vinyl siding; Asphalt shingle roof; Crawl foundation
• Exterior features: Located on a cul-de-sac; Deck; Patio; Wooded lot; Full wood fence; Storage shed

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: Master bedroom on the first floor; One bedroom has an ensuite
• Flooring: Ceramic; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Electric heating; Central air
• Interior features: Cable hookup; Ceiling fan; Scuttle access; Walk-in closet; Window treatments
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $-51 ($-609/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (14.7% below list).
• Recommended offer: $239k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Birdneck Elementary (math 32% / reading 52%, grade F, #866 of 1,108 statewide, top 80%, 646 students, 76% FRL); Corporate Landing Middle (math 66% / reading 77%, grade A, #72 of 342 statewide, top 22%, 1,054 students, 46% FRL); Ocean Lakes High (math 73% / reading 89%, grade A, #52 of 319 statewide, top 17%, 1,855 students, 29% FRL) — zoned schools average 50% FRL vs 28% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.6%/yr); 209 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $8k 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 25 days — a 2% lower offer ($276k) 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 $280k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $238,752 (14.7% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.85% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.62% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.50×
• Total profit: $-39,557
• Equity at exit: $41,749

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $1,385
• Equity at exit: $24,209

Cash invested: $78,400 (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 23454

• Rents YoY: 6.6%
• Active inventory: 209
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,388 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$117 /mo · $1,403/yr
• Insurance: −$117
• HOA: −$235
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $-51

Break-even live

Break-even rent $2,452

Max offer price $271,030

Occupancy floor 97%

Sensitivity live

Price	-10% $108	-5% $28	+0% $-51	+5% $-130	+10% $-209
Rent	-10% $-239	-5% $-145	+0% $-51	+5% $44	+10% $138
Rate	-1.0pp $90	-0.5pp $20	base $-51	+0.5pp $-123	+1.0pp $-197

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1115 Woodcock Ln Virginia Beach, VA	3.0	1.0	1092	$2,195	$2.01	16d	1	0.82mi
1200 S Birdneck Rd Virginia Beach, VA	3.0–4.0	2.5	1340	$2,229	$1.66	25d	1	0.95mi
1401 E Intruder Cir Virginia Beach, VA	1.0–3.0	1.0–1.5	870	$1,914	$2.20	25d	1	0.98mi
1594 Hummingbird Ln Virginia Beach, VA	3.0	2.0	1200	$2,500	$2.08	9d	1	1.09mi
1594 Hummingbird Ln Virginia Beach, VA	3.0	2.0	1136	$2,500	$2.20	3d	1	1.09mi
1149 Balch Pl Virginia Beach, VA	3.0	2.5	1450	$2,495	$1.72	22d	1	1.31mi
1149 Balch Pl Virginia Beach, VA	3.0	2.5	1450	$2,495	$1.72	5d	1	1.31mi

HOA detail condo

• Monthly dues: $235 · $2,820/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-08
   status $279,999 Under Contract 25 DOM
2. 2026-06-07
   days on market $279,999 Active Under Contract 25 DOM
3. 2026-06-03
   days on market $279,999 Active Under Contract 21 DOM
4. 2026-06-02
   days on market $279,999 Active Under Contract 20 DOM
5. 2026-06-01
   days on market $279,999 Active Under Contract 19 DOM
6. 2026-05-31
   days on market $279,999 Active Under Contract 18 DOM
7. 2026-05-16
   historical Active Under Contract
8. 2026-05-13
   listed $279,999 Active
9. 2019-09-17
   soldstatus $160,000
10. 2019-08-28
    status Under Contract
11. 2019-08-13
    historical Active Under Contract
12. 2019-07-05
    listed $174,500 Active
13. 2007-06-28
    soldstatus $154,000
14. 1995-01-06
    soldstatus $51,930

ⓘ 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: $1,403 · $117/mo
• Projected year-2 tax: $2,296 · $191/mo
• Expected delta: +$893/yr (+$74/mo · 63.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,650
• − Mortgage interest: −$15,684
• − Property taxes: −$1,403
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,292
• − Management: −$2,292
• − HOA: −$2,820
• − Depreciation: −$8,145
• Taxable loss: −$5,386
• Est. tax savings @ 24.0%: +$1,293
• After-tax cash flow: $683/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): 58,178
• Household income: $102,796
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1696.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 13% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Tagalog/Filipino 1% Chinese 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: ▼ -385.89%
• Current HPI: 328.85
• Rent YoY: ▲ 6.62%
• 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

+439.2% since first listed

8 events — show timeline

• 2026-05-16 Contingent — REINMLS
• 2026-05-13 Listed $279,999 REINMLS
• 2019-09-17 Sold (Public Records) $160,000 Public Records
• 2019-08-28 Pending — REINMLS
• 2019-08-13 Contingent — REINMLS
• 2019-07-05 Listed $174,500 REINMLS
• 2007-06-28 Sold (Public Records) $154,000 Public Records
• 1995-01-06 Sold (Public Records) $51,930 Public Records

Property tax history

+1.3%/yr

Latest (2021): $1,403 · -3.7% YoY. Source: county tax records.