702 Westwood Ave · Hampton, VA 23661

$149,000

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 44 Days on market

Built 1950 5,000 sqft lot $199/sqft · 26% below area Est $201k · 26% 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 +16.5/30.0
• ARV discount +15.0/15.0
• Schools +5.5/10.0
• DSCR +5.1/10.0
• Rent growth +5.0/5.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting 2-bedroom, 1-bath home situated on a desirable corner lot. This property offers a fully fenced yard perfect for outdoor enjoyment, pets, or future enhancements. Enjoy relaxing mornings on the front porch and entertaining on the deck. Inside, you’ll find new flooring already installed and a brand new roof, giving you a strong head start on your renovation. Live in your new home while adding your finishing touches. Perfect for buyers looking for affordable home ownership, or comfortable with a little sweat equity and an investor looking to build their portfolio. With a shed for additional storage and plenty of yard space, the potential here is undeniable. Priced to sell, this is your chance to secure a property with strong upside in a growing area. Don’t miss out! Schedule your showing today!

Key facts

• 5,000 sq ft lot
• Built 1950
• Listed 44 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (7.4% below list).
• Recommended offer: $138k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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.
• Market conditions: Rents rising fast (+21.4%/yr); 124 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $4k 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 44 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $109k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $137,982 (7.4% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.93% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.50%
• DSCR: 1.11
• GRM: 9.0

CMA / ARV

• ARV (median comp): $200,810
• List price: $149,000
• Delta: -25.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
436 Seminole Rd	0.13mi	2/1.0	720 (-4%)	0mo	$155,000	$215	87
802 Smith St	0.26mi	2/1.0	709 (-5%)	0mo	$200,000	$282	79
732 Westwood Ave	0.07mi	2/1.0	672 (-10%)	12mo	$199,000	$296	69
622 Bell St	0.31mi	2/1.0	804 (+8%)	5mo	$150,000	$187	69
2833 Ryland Rd	0.58mi	2/1.0	720 (-4%)	2mo	$220,000	$306	65
415 Brightwood Ave	0.30mi	2/1.0	804 (+8%)	13mo	$185,000	$230	63
681 Bell St	0.42mi	3/1.0 (+1)	813 (+9%)	2mo	$204,000	$251	59
509 Lee St	0.64mi	2/1.0	680 (-9%)	11mo	$105,000	$154	46
2905 Victoria Blvd	0.65mi	2/1.0	845 (+13%)	11mo	$214,900	$254	39

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: -7.0%
• Equity multiple: 0.73×
• Total profit: $-11,319
• Equity at exit: $22,216

10-year hold

• IRR: 7.9%
• Equity multiple: 1.73×
• Total profit: $30,471
• Equity at exit: $12,883

Cash invested: $41,720 (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 23661

• Home prices YoY: -16.7%
• Rents YoY: 21.4%
• Active inventory: 124
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,380 high
• Mortgage (P&I): −$781
• Tax from tax record: −$160 /mo · $1,917/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $87

Break-even live

Break-even rent $1,270

Max offer price $149,000

Occupancy floor 89%

Sensitivity live

Price	-10% $171	-5% $129	+0% $87	+5% $45	+10% $2
Rent	-10% $-22	-5% $32	+0% $87	+5% $141	+10% $196
Rate	-1.0pp $162	-0.5pp $125	base $87	+0.5pp $48	+1.0pp $9

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Homestead Ave Hampton, VA	1.0	1.0	750	$1,195	$1.59	11d	1	0.23mi
708 Norwood Cir Hampton, VA	2.0	1.0	720	$1,050	$1.46	24d	1	0.53mi
259 La Salle Ave Unit A Hampton, VA	2.0	1.0	680	$1,595	$2.35	44d	1	0.68mi
3785 Kecoughtan Rd Hampton, VA	1.0–2.0	1.0	650	$1,425	$2.19	44d	5	0.87mi
600 Freeman Dr Hampton, VA	1.0–2.0	1.0–2.0	892	$2,008	$2.25	3d	8	1.30mi

Listing history 5 events

1. 2026-05-15
   price $149,000 838-char remark

   Show marketing remark (838 chars)

   Welcome to this inviting 2-bedroom, 1-bath home situated on a desirable corner lot. This property offers a fully fenced yard perfect for outdoor enjoyment, pets, or future enhancements. Enjoy relaxing mornings on the front porch and entertaining on the deck. Inside, you’ll find new flooring already installed and a brand new roof, giving you a strong head start on your renovation. Live in your new home while adding your finishing touches. Perfect for buyers looking for affordable home ownership, or comfortable with a little sweat equity and an investor looking to build their portfolio. With a shed for additional storage and plenty of yard space, the potential here is undeniable. Priced to sell, this is your chance to secure a property with strong upside in a growing area. Don’t miss out! Schedule your showing today!

2. 2026-04-12
   listed $159,500 Active 838-char remark

   Show marketing remark (838 chars)

   Welcome to this inviting 2-bedroom, 1-bath home situated on a desirable corner lot. This property offers a fully fenced yard perfect for outdoor enjoyment, pets, or future enhancements. Enjoy relaxing mornings on the front porch and entertaining on the deck. Inside, you’ll find new flooring already installed and a brand new roof, giving you a strong head start on your renovation. Live in your new home while adding your finishing touches. Perfect for buyers looking for affordable home ownership, or comfortable with a little sweat equity and an investor looking to build their portfolio. With a shed for additional storage and plenty of yard space, the potential here is undeniable. Priced to sell, this is your chance to secure a property with strong upside in a growing area. Don’t miss out! Schedule your showing today!

3. 2026-04-12
   historical $159,500 838-char remark

   Show marketing remark (838 chars)

   Welcome to this inviting 2-bedroom, 1-bath home situated on a desirable corner lot. This property offers a fully fenced yard perfect for outdoor enjoyment, pets, or future enhancements. Enjoy relaxing mornings on the front porch and entertaining on the deck. Inside, you’ll find new flooring already installed and a brand new roof, giving you a strong head start on your renovation. Live in your new home while adding your finishing touches. Perfect for buyers looking for affordable home ownership, or comfortable with a little sweat equity and an investor looking to build their portfolio. With a shed for additional storage and plenty of yard space, the potential here is undeniable. Priced to sell, this is your chance to secure a property with strong upside in a growing area. Don’t miss out! Schedule your showing today!

4. 2006-10-17
   soldstatus $109,400
5. 1992-03-01
   soldstatus $35,000

ⓘ 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: $1,917 · $160/mo
• Projected year-2 tax: $1,917 · $160/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 3/10 Moderate FEMA zone X (unshaded) · 9% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,558
• − Mortgage interest: −$8,346
• − Property taxes: −$1,917
• − Insurance: −$745
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$4,335
• Taxable loss: −$1,435
• Est. tax savings @ 24.0%: +$344
• After-tax cash flow: $1,386/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): 14,005
• Household income: $65,446
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 704.0

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 0.56)
• Race & ethnicity: Black 59% White 31% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Serbian 2% Italian 2% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Arabic 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: ▼ -54.95%
• Current HPI: 274.2769
• Rent YoY: ▲ 21.35%
• 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

+325.7% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $149,000 CVRMLS
• 2026-04-12 Listed $159,500 CVRMLS
• 2026-04-12 Coming Soon $159,500 CVRMLS
• 2006-10-17 Sold (Public Records) $109,400 Public Records
• 1992-03-01 Sold (Public Records) $35,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $1,917 · +9.4% YoY. Source: county tax records.