12 Tennis Ln · Hampton, VA 23663

$285,000

4 bd · 2.0 ba · 1,571 sqft · MultiFamily public records · 31 Days on market

Built 1960 6,000 sqft lot $181/sqft · 21% below area Est $363k · 21% under

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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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.3/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Move in ready and rent ready duplex for sale.

Key facts

• 6,000 sq ft lot
• Built 1960
• Listed 31 days

Property features AI

Finance

• Financial info: Simple ownership

Exterior

• Parking: Driveway (off-street parking for each unit)
• Utilities: Separate electric meters; City/County water; City/County sewer
• Home design: Duplex (side-by-side units)
• Construction: Crawl foundation; Asphalt shingle roof
• Exterior features: Vinyl siding; Driveway parking; Lot approximately 60' x 100'

Interior

• Kitchen: Electric range; Refrigerator; Pantry (each unit)
• Bedrooms: First-floor master bedroom (each unit)
• Heating & cooling: Forced hot air; Heat pump; Central air
• Interior features: Window treatments; Ceiling fan; Cable TV hookup
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive. Per door: $351/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $276k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Jane H. Bryan Elementary (math 42% / reading 57%, grade D, #742 of 1,108 statewide, top 70%, 376 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 68 units permitted in Hampton city in 2024 (0 in 5+ unit buildings).
• At $3,228/mo this rent would consume 71% of the median local household income ($54k/yr) (locally 803% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $83k; list at $285k implies a 243% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $276,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.13% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.57%
• DSCR: 1.47
• GRM: 7.4

CMA / ARV

• ARV (median comp): $362,834
• List price: $285,000
• Delta: -21.45%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.13% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-1,035
• Equity at exit: $42,494

10-year hold

• IRR: 9.4%
• Equity multiple: 1.73×
• Total profit: $58,354
• Equity at exit: $24,642

Cash invested: $79,800 (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: 14.7×

Monthly cashflow live

• Estimated rent: $3,228 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$234 /mo · $2,810/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$678
• Net cashflow: $703

Break-even live

Break-even rent $2,339

Max offer price $285,000

Occupancy floor 73%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,228
Total (2 units)			$3,228

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 W Kelly Ave Hampton, VA	3.0	1.0	1200	$2,350	$1.96	43d	1	0.43mi
5 Lacrosse St Hampton, VA	3.0	2.5	1612	$2,500	$1.55	43d	1	0.62mi
10 Whipple Dr Hampton, VA	4.0	2.5	1564	$2,300	$1.47	43d	1	0.85mi
305 Old Point Ave Hampton, VA	3.0	1.0	1186	$1,750	$1.48	43d	1	1.08mi
19 Magnolia Pl Hampton, VA	3.0	1.5	1405	$2,100	$1.49	14d	1	1.21mi
27 Capps Qtrs #1 Hampton, VA	3.0	2.5	1734	$2,200	$1.27	43d	1	1.27mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $285,000 Under Contract 31 DOM
2. 2026-06-03
   days on market $285,000 Active Under Contract 29 DOM
3. 2026-06-02
   days on market $285,000 Active Under Contract 28 DOM
4. 2026-06-01
   days on market $285,000 Active Under Contract 27 DOM
5. 2026-05-31
   days on market $285,000 Active Under Contract 26 DOM
6. 2026-05-09
   historical Active Under Contract 45-char remark
7. 2026-05-05
   listed $285,000 Active 45-char remark
8. 2014-01-09
   soldstatus $83,000
9. 1982-10-01
   soldstatus $8,000

ⓘ 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: $2,810 · $234/mo
• Projected year-2 tax: $2,810 · $234/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) · 42% 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 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: $38,736
• − Mortgage interest: −$15,964
• − Property taxes: −$2,810
• − Insurance: −$1,425
• − Repairs & maintenance: −$3,099
• − Management: −$3,099
• − Depreciation: −$8,291
• Taxable income: $4,048
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $7,460/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

+3462.5% since first listed

5 events — show timeline

• 2026-06-05 Pending — REINMLS
• 2026-05-09 Contingent — REINMLS
• 2026-05-05 Listed $285,000 REINMLS
• 2014-01-09 Sold (Public Records) $83,000 Public Records
• 1982-10-01 Sold (Public Records) $8,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $2,810 · +19.8% YoY. Source: county tax records.