446 Britnie Ct · Newport News, VA 23602

$104,500

2 bd · 1.5 ba · 663 sqft · Condo public records · 59 Days on market

Built 1970 $158/sqft · 25% below area Est $139k · 25% under $250/mo HOA · 17% of rent

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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 +25.7/30.0
• ARV discount +15.0/15.0
• 1% rule +9.5/10.0
• DSCR +8.5/10.0
• Rent growth +5.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great unit at a great price! This 2 bed 1.5 bath condo features NEW LVP flooring and carpet and fresh paint, making it move in ready! This one won't last, schedule your showing today!

Key facts

• $250 HOA
• Parking
• Built 1970

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $104k.

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 $104k).
• Recommended offer: $101k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.2% in Newport News — 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 (#123 in VA, #4,018 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime F, commute F.
• Newport News City Public School District (urban): math 34% / reading 54% proficiency, ranked #112 of 131 in VA (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+13.2%/yr); 178 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $722 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Newport News County population projected to shrink 8% 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 $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $25k; list at $104k implies a 318% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $101,365 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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 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. Crime grade is F 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?
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: 1.45% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.22%
• DSCR: 1.45
• GRM: 5.8

CMA / ARV

• ARV (median comp): $138,722
• List price: $104,500
• Delta: -24.67%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.8%
• Equity multiple: 1.24×
• Total profit: $7,103
• Equity at exit: $15,581

10-year hold

• IRR: 20.1%
• Equity multiple: 3.18×
• Total profit: $63,693
• Equity at exit: $9,035

Cash invested: $29,260 (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 23602

• Home prices YoY: -19.2%
• Rents YoY: 13.2%
• Active inventory: 178
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,514 high
• Mortgage (P&I): −$548
• Tax from tax record: −$105 /mo · $1,261/yr
• Insurance: −$44
• HOA: −$250
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $249

Break-even live

Break-even rent $1,198

Max offer price $104,500

Occupancy floor 79%

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: $26,125
• Closing costs: $3,135
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 River Trace Way Newport News, VA	1.0–2.0	1.0–2.0	678	$1,250	$1.84	3d	4	0.25mi
13302 Garden State Dr Newport News, VA	1.0–3.0	1.0–2.0	915	$1,475	$1.61	3d	19	0.32mi
900 Radius Way Newport News, VA	1.0–2.0	1.0–2.0	841	$2,143	$2.55	2d	22	0.72mi
100 Continental Pkwy Newport News, VA	2.0	1.0–2.0	808	$2,401	$2.97	2d	22	0.92mi
14303 Old Courthouse Way Newport News, VA	1.0	1.0	500	$850	$1.70	44d	1	0.94mi
100 Springhouse Way Newport News, VA	1.0–2.0	1.0–2.0	675	$1,589	$2.35	2d	47	0.98mi
14353 Deloice Cres Newport News, VA	1.0–3.0	1.0–2.0	971	$1,790	$1.84	2d	11	1.03mi
1 Carmella Cir Newport News, VA	2.0	1.0	612	$1,099	$1.80	24d	1	1.22mi
1 Carmella Cir Newport News, VA	1.0	1.0	522	$949	$1.82	44d	1	1.22mi
525 Dartmoor Dr Newport News, VA	1.0	1.0	582	$1,630	$2.80	2d	6	1.40mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-16
   days on market $104,500 Active 59 DOM
2. 2026-06-15
   pricedays on market $104,500 Active 58 DOM
3. 2026-06-09
   days on market $105,000 Active 52 DOM
4. 2026-06-08
   days on market $105,000 Active 51 DOM
5. 2026-06-07
   statusdays on market $105,000 Active 50 DOM
6. 2026-06-02
   statusdays on market $105,000 Under Contract 47 DOM
7. 2026-06-01
   days on market $105,000 Active Under Contract 46 DOM
8. 2026-05-31
   days on market $105,000 Active Under Contract 45 DOM
9. 2026-05-05
   price $114,900 183-char remark

   Show marketing remark (183 chars)

   Great unit at a great price! This 2 bed 1.5 bath condo features NEW LVP flooring and carpet and fresh paint, making it move in ready! This one won't last, schedule your showing today!

10. 2026-05-05
    price $114,900 183-char remark

    Show marketing remark (183 chars)

    Great unit at a great price! This 2 bed 1.5 bath condo features NEW LVP flooring and carpet and fresh paint, making it move in ready! This one won't last, schedule your showing today!

11. 2026-04-16
    listed $109,900 Active 183-char remark

    Show marketing remark (183 chars)

    Great unit at a great price! This 2 bed 1.5 bath condo features NEW LVP flooring and carpet and fresh paint, making it move in ready! This one won't last, schedule your showing today!

12. 2026-04-16
    listed $109,900 Active 183-char remark

    Show marketing remark (183 chars)

    Great unit at a great price! This 2 bed 1.5 bath condo features NEW LVP flooring and carpet and fresh paint, making it move in ready! This one won't last, schedule your showing today!

13. 2017-10-15
    status Under Contract
14. 2017-10-13
    status Active
15. 2017-10-10
    historical
16. 2017-06-09
    listed $42,900 Active
17. 2006-03-08
    soldstatus $25,000
18. 2000-12-04
    soldstatus $22,500
19. 1984-04-30
    soldstatus $38,000
20. 1982-08-01
    soldstatus $30,500

ⓘ 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: $1,261 · $105/mo
• Projected year-2 tax: $1,261 · $105/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,165
• − Mortgage interest: −$5,854
• − Property taxes: −$1,261
• − Insurance: −$522
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − HOA: −$3,000
• − Depreciation: −$3,040
• Taxable income: $1,582
• Est. tax owed @ 24.0%: −$380
• After-tax cash flow: $2,612/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: Newport News City Public School District
• NCES district ID: 5102640
• Math proficiency: 34% ▼ -37.00%
• Reading proficiency: 54% ▼ -10.00%
• Median HH income: $49,644
• Composite: 37.7/100
• National rank: #4360
• State rank: #112 of 131 in VA

Livability — Newport News

• Score: 75/100
• State rank: #123
• US rank: #4018

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport News, VA
• County: Newport News City · 178,950 people
• City population: 178,950
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 42,265
• Household income: $79,475
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1696.0

Population outlook (Newport News County) Hauer SSP2

• Today (2025): 181,076 people
• By 2030: 179,683 · -0.8%
• By 2040: 174,649 · -3.5%
• By 2050: 167,407 · -7.5%
• By 2075: 147,597 · -18.5%
• By 2100: 122,144 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 42% Black 34% Hispanic / Latino 12% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 10% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 6% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Newport News

• 2024 margin: Strong D (+28.8) · D 63.7% · R 34.9% · Other 1.4%
• 2008→2024 swing: +0.1pp no change · 2008: 28.7pp · 2024: 28.8pp
• All cycles: 2024: D+28.8 2020: D+32.9 2016: D+25.4 2012: D+30.0 2008: D+28.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.28%
• Current HPI: 283.0889
• Rent YoY: ▲ 13.22%
• 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

+276.7% since first listed

12 events — show timeline

• 2026-05-05 Price Changed $114,900 REINMLS
• 2026-05-05 Price Changed $114,900 WMLS
• 2026-04-16 Listed $109,900 WMLS
• 2026-04-16 Listed $109,900 REINMLS
• 2017-10-15 Pending — REINMLS
• 2017-10-13 Relisted — REINMLS
• 2017-10-10 Listing Removed — REINMLS
• 2017-06-09 Listed $42,900 REINMLS
• 2006-03-08 Sold (Public Records) $25,000 Public Records
• 2000-12-04 Sold (Public Records) $22,500 Public Records
• 1984-04-30 Sold (Public Records) $38,000 Public Records
• 1982-08-01 Sold (Public Records) $30,500 Public Records

Property tax history

+7.2%/yr

Latest (2026): $1,261 · +45.6% YoY. Source: county tax records.