3702 Woodlawn St · Hopewell, VA 23860

$170,000

4 bd · 2.0 ba · 1,600 sqft · SingleFamily public records · 24 Days on market

Built 1950 0.27 ac lot $106/sqft · 39% below area Est $279k · 39% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.7/10.0
• Rent growth +4.7/5.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special in Hopewell! This 4-bedroom, 2-bath property offers strong potential for a full renovation, rental hold, or primary residence. Zoned B-4, providing additional flexibility for future use. Conveniently located directly behind O’Reilly Auto Parts, with easy access to nearby amenities. Similar houses are selling for $325k + Property is being sold strictly AS-IS, WHERE-IS. The home requires significant rehabilitation. Cash offers only. Buyers are advised to conduct thorough due diligence and exercise caution when touring the property.

Key facts

• Zoned b-4
• 0.27 acre lot
• Built 1950

Tags

• ZONED B-4
• EASY ACCESS TO AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.2% in Hopewell — 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 70/100 on livability (#224 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A-; Watch: crime D+, amenities F, commute F.
• Hopewell City Public School District (suburban): math 23% / reading 49% proficiency, ranked #129 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.9%/yr); 228 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42 units permitted in Hopewell city in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($62k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hopewell County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $95k; list at $170k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 48% 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 $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

• ARV (median comp): $278,723
• List price: $170,000
• Delta: -39.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3525 Woodlawn St	0.09mi	4/3.0	1,747 (+9%)	4mo	$312,000	$179	73
3633 Gilbert St	0.34mi	3/2.5 (-1)	1,627 (+2%)	7mo	$299,950	$184	69
1419 Old Iron Rd	0.34mi	3/2.5 (-1)	1,627 (+2%)	7mo	$299,950	$184	68
1401 Old Iron Rd	0.27mi	4/2.0	1,406 (-12%)	3mo	$280,000	$199	65
637 Cedar Level Rd	0.44mi	3/1.5 (-1)	1,612 (+1%)	8mo	$260,000	$161	64
640 Cabin Creek Dr	0.67mi	4/2.0	1,632 (+2%)	7mo	$325,000	$199	60
536 Smithfield Ave	0.56mi	4/2.0	1,714 (+7%)	4mo	$309,950	$181	59
3004 Norfolk St	0.72mi	3/1.5 (-1)	1,626 (+2%)	2mo	$265,000	$163	55
3211 Saint Charles St	0.58mi	4/2.0	1,773 (+11%)	2mo	$335,000	$189	54
3306 Saint Charles St	0.48mi	3/2.0 (-1)	1,764 (+10%)	7mo	$298,000	$169	50
3206 Granby St	0.59mi	3/2.0 (-1)	1,456 (-9%)	8mo	$288,000	$198	46
614 Terrace Ave	0.66mi	3/2.0 (-1)	1,430 (-11%)	5mo	$275,000	$192	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,083
• Equity at exit: $25,348

10-year hold

• IRR: 13.3%
• Equity multiple: 2.31×
• Total profit: $62,344
• Equity at exit: $14,698

Cash invested: $47,600 (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 23860

• Home prices YoY: -22.0%
• Rents YoY: 8.9%
• Active inventory: 228
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,813 high
• Mortgage (P&I): −$891
• Tax from tax record: −$221 /mo · $2,656/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $249

Break-even live

Break-even rent $1,498

Max offer price $170,000

Occupancy floor 81%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3502 Oaklawn Blvd Hopewell, VA	3.0	1.0	1124	$1,850	$1.65	21d	1	0.23mi
3314 Granby St Hopewell, VA	3.0	1.0	1469	$1,600	$1.09	23d	1	0.49mi
3309 Carlisle Ave Hopewell, VA	3.0	1.0	1152	$1,395	$1.21	21d	1	0.61mi
3200 Saint Charles St Hopewell, VA	3.0	1.5	1272	$1,595	$1.25	44d	1	0.64mi
2958 Winston Churchill Dr Hopewell, VA	3.0	2.0	1576	$1,795	$1.14	23d	1	0.76mi
4001 London Rd North Prince George, VA	3.0	1.5	1414	$2,300	$1.63	1d	1	1.10mi
4001 London Rd North Prince George, VA	3.0	1.5	1414	$2,300	$1.63	10d	1	1.10mi
1900 Arlington Rd Hopewell, VA	3.0	2.0	1216	$1,695	$1.39	44d	1	1.28mi
5000 Owens Way Prince George, VA	1.0–4.0	1.0–4.0	1106	$2,850	$2.58	1d	25	1.29mi
552 S 22nd Ave Hopewell, VA	3.0	2.0	1368	$1,800	$1.32	23d	1	1.31mi
522 S 22nd Ave Hopewell, VA	3.0	2.0	1368	$1,800	$1.32	23d	1	1.32mi
4750 Baileys Ridge Dr Prince George, VA	2.0–3.0	2.0	1028	$1,490	$1.45	1d	4	1.34mi
221 S Mesa Dr Hopewell, VA	3.0	1.0	1152	$1,300	$1.13	23d	1	1.36mi
2303 Maclin Cir Hopewell, VA	3.0	2.0	1150	$1,499	$1.30	3d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $170,000 Active 24 DOM
2. 2026-06-17
   days on market $170,000 Active 23 DOM
3. 2026-06-16
   days on market $170,000 Active 22 DOM
4. 2026-06-15
   days on market $170,000 Active 21 DOM
5. 2026-06-13
   statusdays on market $170,000 Active 19 DOM
6. 2026-05-11
   status Pending 561-char remark

   Show marketing remark (561 chars)

   Investor special in Hopewell! This 4-bedroom, 2-bath property offers strong potential for a full renovation, rental hold, or primary residence. Zoned B-4, providing additional flexibility for future use. Conveniently located directly behind O’Reilly Auto Parts, with easy access to nearby amenities. Similar houses are selling for $325k + Property is being sold strictly AS-IS, WHERE-IS. The home requires significant rehabilitation. Cash offers only. Buyers are advised to conduct thorough due diligence and exercise caution when touring the property.

7. 2026-05-04
   status Active 561-char remark

   Show marketing remark (561 chars)

   Investor special in Hopewell! This 4-bedroom, 2-bath property offers strong potential for a full renovation, rental hold, or primary residence. Zoned B-4, providing additional flexibility for future use. Conveniently located directly behind O’Reilly Auto Parts, with easy access to nearby amenities. Similar houses are selling for $325k + Property is being sold strictly AS-IS, WHERE-IS. The home requires significant rehabilitation. Cash offers only. Buyers are advised to conduct thorough due diligence and exercise caution when touring the property.

8. 2026-04-03
   status Pending 561-char remark

   Show marketing remark (561 chars)

   Investor special in Hopewell! This 4-bedroom, 2-bath property offers strong potential for a full renovation, rental hold, or primary residence. Zoned B-4, providing additional flexibility for future use. Conveniently located directly behind O’Reilly Auto Parts, with easy access to nearby amenities. Similar houses are selling for $325k + Property is being sold strictly AS-IS, WHERE-IS. The home requires significant rehabilitation. Cash offers only. Buyers are advised to conduct thorough due diligence and exercise caution when touring the property.

9. 2026-03-23
   listed $170,000 Active 561-char remark

   Show marketing remark (561 chars)

   Investor special in Hopewell! This 4-bedroom, 2-bath property offers strong potential for a full renovation, rental hold, or primary residence. Zoned B-4, providing additional flexibility for future use. Conveniently located directly behind O’Reilly Auto Parts, with easy access to nearby amenities. Similar houses are selling for $325k + Property is being sold strictly AS-IS, WHERE-IS. The home requires significant rehabilitation. Cash offers only. Buyers are advised to conduct thorough due diligence and exercise caution when touring the property.

10. 2023-04-18
    soldstatus $95,000
11. 2023-04-17
    soldstatus $95,000 Closed 307-char remark

    Show marketing remark (307 chars)

    Calling All Investors! This fixer upper is 4 bedrooms and 2 bath. There is a lot of potential with the property and it has B4 Zoning. Great opportunity for a flip or for someone to create as their first home or a rental property. This property is directly behind the O'Reilly's Auto Parts store in Hopewell.

12. 2023-04-03
    status Pending 307-char remark

    Show marketing remark (307 chars)

    Calling All Investors! This fixer upper is 4 bedrooms and 2 bath. There is a lot of potential with the property and it has B4 Zoning. Great opportunity for a flip or for someone to create as their first home or a rental property. This property is directly behind the O'Reilly's Auto Parts store in Hopewell.

13. 2023-03-08
    price $119,990 307-char remark

    Show marketing remark (307 chars)

    Calling All Investors! This fixer upper is 4 bedrooms and 2 bath. There is a lot of potential with the property and it has B4 Zoning. Great opportunity for a flip or for someone to create as their first home or a rental property. This property is directly behind the O'Reilly's Auto Parts store in Hopewell.

14. 2023-02-08
    price $129,950 307-char remark

    Show marketing remark (307 chars)

    Calling All Investors! This fixer upper is 4 bedrooms and 2 bath. There is a lot of potential with the property and it has B4 Zoning. Great opportunity for a flip or for someone to create as their first home or a rental property. This property is directly behind the O'Reilly's Auto Parts store in Hopewell.

15. 2023-01-25
    listed $149,990 Active 307-char remark

    Show marketing remark (307 chars)

    Calling All Investors! This fixer upper is 4 bedrooms and 2 bath. There is a lot of potential with the property and it has B4 Zoning. Great opportunity for a flip or for someone to create as their first home or a rental property. This property is directly behind the O'Reilly's Auto Parts store in Hopewell.

16. 1998-09-23
    soldstatus $35,000
17. 1992-04-17
    soldstatus $25,000

ⓘ 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: $2,656 · $221/mo
• Projected year-2 tax: $2,656 · $221/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 48% 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: $21,760
• − Mortgage interest: −$9,523
• − Property taxes: −$2,656
• − Insurance: −$850
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − Depreciation: −$4,945
• Taxable income: $304
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $2,913/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: Hopewell City Public School District
• NCES district ID: 5101980
• Math proficiency: 23% ▼ -54.00%
• Reading proficiency: 49% ▼ -18.00%
• Median HH income: $38,234
• Composite: 29.95/100
• National rank: #6377
• State rank: #129 of 131 in VA

Livability — Hopewell

• Score: 70/100
• State rank: #224
• US rank: #7437

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hopewell, VA
• County: Hopewell City · 31,404 people
• City population: 31,404
• Metro: Richmond, VA
• Population (ZIP): 31,404
• Household income: $62,141
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1055.0

Population outlook (Hopewell County) Hauer SSP2

• Today (2025): 21,776 people
• By 2030: 21,457 · -1.5%
• By 2040: 20,882 · -4.1%
• By 2050: 20,239 · -7.1%
• By 2075: 18,905 · -13.2%
• By 2100: 16,949 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 43% Black 42% Two or more races 9% Hispanic / Latino 8% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Hopewell

• 2024 margin: D (+13.8) · D 56.4% · R 42.6% · Other 1.0%
• 2008→2024 swing: +1.8pp toward D · 2008: 11.9pp · 2024: 13.8pp
• All cycles: 2024: D+13.8 2020: D+14.7 2016: D+9.3 2012: D+16.0 2008: D+11.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.28%
• Current HPI: 302.6343
• Rent YoY: ▲ 8.86%
• Metro: Richmond, VA
• 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

+580.0% since first listed

12 events — show timeline

• 2026-05-11 Pending — CVRMLS
• 2026-05-04 Relisted — CVRMLS
• 2026-04-03 Pending — CVRMLS
• 2026-03-23 Listed $170,000 CVRMLS
• 2023-04-18 Sold (Public Records) $95,000 Public Records
• 2023-04-17 Sold (MLS) $95,000 CVRMLS
• 2023-04-03 Pending — CVRMLS
• 2023-03-08 Price Changed $119,990 CVRMLS
• 2023-02-08 Price Changed $129,950 CVRMLS
• 2023-01-25 Listed $149,990 CVRMLS
• 1998-09-23 Sold (Public Records) $35,000 Public Records
• 1992-04-17 Sold (Public Records) $25,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $2,656 · +77.9% YoY. Source: county tax records.