573 Old Point Ave · Hampton, VA 23663

$85,000

2 bd · 1.0 ba · 750 sqft · SingleFamily public records · 4 Days on market

Built 1953

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor or builder opportunity with strong redevelopment potential. Property is being sold as-is, where-is, with no repairs to be made by the seller. The existing structure is in poor condition and will require extensive renovation, with potential for a full tear-down and rebuild depending on buyer plans. The primary value lies in the land and future use possibilities. Well-suited for investors, builders, or experienced renovators seeking their next project. Cash or renovation financing recommended.

Key facts

• Built 1953
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 10.9% 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: Captain John Smith Elementary (math 42% / reading 57%, grade D, #742 of 1,108 statewide, top 70%, 393 students, 82% FRL); Phoebus High (math 57% / reading 76%, grade B, #195 of 319 statewide, top 62%, 1,365 students, 86% FRL) — zoned schools average 84% FRL vs 49% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 80 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $588 of loan paydown is wiped out by about $3k 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 + 3.1% rent growth), your $24k cash investment doubles in ~8 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: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $85,000

Questions for the listing agent

1. Built in 1953 — 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 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?
4. 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.
5. 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.
6. 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: 1.44% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.51%
• DSCR: 1.73
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $218,250
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1428 Woodcrest Dr	0.56mi	2/1.0	705 (-6%)	8mo	$204,900	$291	58
617 Renn Rd	0.71mi	3/1.0 (+1)	848 (+13%)	0mo	$90,000	$106	40

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 · 3.13% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.31×
• Total profit: $7,291
• Equity at exit: $12,674

10-year hold

• IRR: 17.2%
• Equity multiple: 2.43×
• Total profit: $34,071
• Equity at exit: $7,349

Cash invested: $23,800 (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 23663

• Home prices YoY: -4.3%
• Rents YoY: 3.1%
• Active inventory: 80
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$446
• Tax from tax record: −$161 /mo · $1,932/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $327

Break-even live

Break-even rent $813

Max offer price $85,000

Occupancy floor 68%

Sensitivity live

Price	-10% $376	-5% $351	+0% $327	+5% $303	+10% $279
Rent	-10% $230	-5% $279	+0% $327	+5% $376	+10% $424
Rate	-1.0pp $370	-0.5pp $349	base $327	+0.5pp $305	+1.0pp $283

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 E Mercury Blvd Unit 56 Hampton, VA	1.0	1.0	650	$850	$1.31	18d	1	0.05mi
320 E Mercury Blvd Apt 63 Hampton, VA	1.0	1.0	650	$850	$1.31	44d	1	0.06mi
1115 E Pembroke Ave Hampton, VA	2.0	1.0	850	$1,275	$1.50	2d	1	0.20mi
4 Bainbridge Ave Unit B Hampton, VA	2.0	1.5	1050	$1,550	$1.48	44d	1	0.78mi
234 Washington St Hampton, VA	2.0	1.0	1111	$2,000	$1.80	11d	1	0.81mi
949 N Mallory St Hampton, VA	2.0	1.5	1054	$1,250	$1.19	2d	1	0.83mi
1802 Moger Dr Hampton, VA	3.0	1.0	900	$1,700	$1.89	13d	1	0.90mi
435 Smiley Rd Hampton, VA	2.0	1.0	624	$1,195	$1.92	5d	1	0.92mi
100 Spanish Trl Hampton, VA	1.0–2.0	1.0–1.5	812	$1,450	$1.79	2d	12	1.01mi
28 Monroe Dr Hampton, VA	3.0	1.0	1110	$1,600	$1.44	44d	1	1.32mi
8 Rip Rap Rd Hampton, VA	2.0	1.0	1000	$1,200	$1.20	22d	1	1.32mi
2000 Neville Cir Hampton, VA	3.0	1.0	1100	$1,750	$1.59	44d	1	1.37mi
224 W Queen St Unit 224A Hampton, VA	1.0	1.5	1100	$1,950	$1.77	44d	1	1.38mi
2010 E Pembroke Ave Hampton, VA	2.0	1.0	900	$1,150	$1.28	4d	1	1.41mi
19 Bernard Ave Hampton, VA	2.0	1.0	906	$995	$1.10	22d	1	1.44mi
450 Cedar Dr Hampton, VA	3.0	1.0	912	$1,500	$1.64	12d	1	1.45mi
109 Peachtree Ln Hampton, VA	3.0	2.0	984	$1,795	$1.82	15d	1	1.49mi

Listing history 4 events

1. 2026-02-11
   status Under Contract
2. 2026-02-07
   listed $85,000 Active
3. 2026-01-25
   historical
4. 2026-01-14
   listed $85,000 Active

ⓘ 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: $1,932 · $161/mo
• Projected year-2 tax: $1,932 · $161/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 5/10 Major FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,728
• − Mortgage interest: −$4,761
• − Property taxes: −$1,932
• − Insurance: −$425
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$2,473
• Taxable income: $2,780
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $3,261/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): 14,656
• Household income: $54,336
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 803.0

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 0.63)
• Race & ethnicity: Black 48% White 37% Two or more races 11% Hispanic / Latino 5%
• Common ancestry: Romanian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -14.71%
• Current HPI: 328.8386
• Rent YoY: ▲ 3.13%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-02-11 Pending — REINMLS
• 2026-02-07 Listed $85,000 REINMLS
• 2026-01-25 Listing Removed — REINMLS
• 2026-01-14 Listed $85,000 REINMLS

Property tax history

+7.7%/yr

Latest (2025): $1,932 · -0.4% YoY. Source: county tax records.