422 Tappan Ave · Hampton, VA 23664

$75,000

2 bd · 1.0 ba · 940 sqft · SingleFamily public records · 4 Days on market

Built 1934 4,791 sqft lot $80/sqft · 71% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property sold strictly as-is, where-is. Great opportunity to own property near Buckroe Beach.

Key facts

• 4,791 sq ft lot
• Built 1934
• Listed 4 days

Tags

• PROPERTY NEAR BUCKROE BEACH

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Street parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Detached ranch; Single-story (1 story); Crawlspace foundation; Simple ownership
• Construction: Wood exterior siding; Composite roof; Crawl foundation
• Exterior features: Deck; Wood siding; Composite roof

Interior

• Kitchen: Kitchen
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on first floor
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced hot air heating; Window/wall cooling
• Interior features: Carpet flooring; Deck (exterior access)
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 17.5% 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: Francis Asbury Elementary (math 67% / reading 72%, grade A-, #313 of 1,108 statewide, top 32%, 450 students, 84% FRL); Phoebus High (math 57% / reading 76%, grade B, #195 of 319 statewide, top 62%, 1,365 students, 86% FRL) — zoned schools average 85% FRL vs 49% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 97 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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: property tax is 2.5% of price; flood insurance adds $460/mo; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 2.16% ✓
• Cap rate: 17.46%
• Cash-on-cash: 39.89%
• DSCR: 2.77
• GRM: 3.9

CMA / ARV

• ARV (median comp): $254,503
• List price: $75,000
• Delta: -70.53%
• 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
422 Tappan Ave	0.00mi	3/1.0 (+1)	940 (0%)	1mo	$85,000	$90	94
212 N Sixth St	0.09mi	3/1.0 (+1)	875 (-7%)	0mo	$280,000	$320	79
317 Richmond Dr	0.14mi	2/1.0	856 (-9%)	1mo	$246,000	$287	78
319 N First St	0.32mi	2/2.0	972 (+3%)	8mo	$340,000	$350	68
2051 Richard Ave	0.37mi	3/1.5 (+1)	1,003 (+7%)	0mo	$270,000	$269	64
1622 Old Buckroe Rd	0.36mi	3/1.0 (+1)	1,009 (+7%)	2mo	$228,000	$226	64
417 Hunlac Ave	0.41mi	3/1.5 (+1)	992 (+6%)	0mo	$286,000	$288	64
2112 E Pembroke Ave	0.45mi	2/1.5	857 (-9%)	0mo	$193,600	$226	62
2045 Richard Ave	0.40mi	3/1.0 (+1)	1,000 (+6%)	12mo	$259,900	$260	55
406 Atlantic Ave	0.33mi	3/1.5 (+1)	1,080 (+15%)	6mo	$230,000	$213	47
1805 Womble Ct	0.56mi	3/2.0 (+1)	1,018 (+8%)	9mo	$275,000	$270	44
40 Fox Grove Dr	0.71mi	3/1.5 (+1)	1,079 (+15%)	7mo	$235,900	$219	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $3,329
• Equity at exit: $11,183

10-year hold

• IRR: 13.9%
• Equity multiple: 2.13×
• Total profit: $23,798
• Equity at exit: $6,485

Cash invested: $21,000 (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 23664

• Home prices YoY: -23.6%
• Active inventory: 97
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,622 high
• Mortgage (P&I): −$393
• Tax from tax record: −$159 /mo · $1,905/yr
• Insurance: −$31
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $238

Break-even live

Break-even rent $1,321

Max offer price $75,000

Occupancy floor 80%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1909 N Mallory St Unit B Hampton, VA	2.0	1.0	619	$1,195	$1.93	7d	1	0.27mi
2010 E Pembroke Ave Hampton, VA	2.0	1.0	900	$1,150	$1.28	4d	1	0.66mi
102 Silver Isles Blvd Hampton, VA	3.0	2.0	1025	$1,900	$1.85	43d	1	0.99mi
2000 Neville Cir Hampton, VA	3.0	1.0	1100	$1,750	$1.59	43d	1	1.06mi
435 Smiley Rd Hampton, VA	2.0	1.0	624	$1,195	$1.92	4d	1	1.17mi
633 Kings View Ct Hampton, VA	3.0	1.0	865	$1,700	$1.97	43d	1	1.37mi
1802 Moger Dr Hampton, VA	3.0	1.0	900	$1,700	$1.89	12d	1	1.40mi

Listing history 4 events

1. 2026-05-04
   status Under Contract 93-char remark

   Show marketing remark (93 chars)

   Property sold strictly as-is, where-is. Great opportunity to own property near Buckroe Beach.

2. 2026-05-04
   status Pending 93-char remark

   Show marketing remark (93 chars)

   Property sold strictly as-is, where-is. Great opportunity to own property near Buckroe Beach.

3. 2026-04-30
   listed $75,000 Active 93-char remark

   Show marketing remark (93 chars)

   Property sold strictly as-is, where-is. Great opportunity to own property near Buckroe Beach.

4. 2026-04-30
   listed $75,000 Active 93-char remark

   Show marketing remark (93 chars)

   Property sold strictly as-is, where-is. Great opportunity to own property near Buckroe Beach.

ⓘ 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: $1,905 · $159/mo
• Projected year-2 tax: $1,905 · $159/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,464
• − Mortgage interest: −$4,201
• − Property taxes: −$1,905
• − Insurance: −$5,900
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$2,182
• Taxable income: $2,161
• Est. tax owed @ 24.0%: −$519
• After-tax cash flow: $2,333/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): 9,643
• Household income: $87,412
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 394.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 24% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 3% · Canada, Guatemala
• Languages at home: 97% English-only · Arabic 1% Spanish 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: ▼ -73.71%
• Current HPI: 238.491
• Rent YoY: —
• 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

+253.3% since first listed

7 events — show timeline

• 2026-05-21 Sold (Public Records) $265,000 Public Records
• 2026-05-19 Sold (MLS) $85,000 REINMLS
• 2026-05-19 Sold (MLS) $85,000 WMLS
• 2026-05-04 Pending — REINMLS
• 2026-05-04 Pending — WMLS
• 2026-04-30 Listed $75,000 REINMLS
• 2026-04-30 Listed $75,000 WMLS

Property tax history

+10.1%/yr

Latest (2025): $1,905 · +11.5% YoY. Source: county tax records.