706 S Fallon Ct · Hampton, VA 23661

$200,000

3 bd · 1.5 ba · 1,440 sqft · SingleFamily public records · 26 Days on market

Built 1963 7,405 sqft lot $139/sqft · 34% below area Est $304k · 34% 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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• Schools +5.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great house to make your own, house has good bones but to be sold as is. Seller do no repairs.

Key facts

• 7,405 sq ft lot
• Built 1963
• Listed 26 days

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Street parking; Driveway space; Close to mass transit
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached property; Tri-level style; 2 stories; Crawl space foundation; Simple ownership
• Construction: Aluminum and brick siding; Asphalt shingle roof
• Exterior features: Located on a cul-de-sac; Back yard fenced with chain link; Storage shed

Interior

• Kitchen: Electric range; Breakfast area; Pantry
• Bedrooms: Bedroom with full bathroom on the first floor; Master bedroom with bath; Spare room
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Scuttle access
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/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 $195k (2.7% below list).
• Recommended offer: $195k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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: A.W.E. Bassette Elementary (math 32% / reading 47%, grade F, #900 of 1,108 statewide, top 83%, 494 students, 87% FRL); Hampton High (math 60% / reading 75%, grade B, #183 of 319 statewide, top 58%, 1,359 students, 86% FRL) — zoned schools average 86% FRL vs 49% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+21.4%/yr); 124 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 68 units permitted in Hampton city in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 8.0% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; list at $200k implies a 1180% 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,671 (2.7% below list)

Questions for the listing agent

1. Built in 1963 — 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: 0.97% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.54%
• DSCR: 1.20
• GRM: 8.6

CMA / ARV

• ARV (median comp): $304,119
• List price: $200,000
• Delta: -34.24%
• 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
470 Algonquin Rd	0.33mi	3/2.0	1,500 (+4%)	5mo	$318,000	$212	72
27 Maplewood St	0.54mi	3/2.0	1,427 (-1%)	2mo	$285,000	$200	70
429 Lee St	0.51mi	3/2.0	1,414 (-2%)	3mo	$265,000	$187	68
355 Ivy Home Rd	0.44mi	4/2.5 (+1)	1,400 (-3%)	0mo	$299,800	$214	65
806 Fairland Ave	0.19mi	3/2.5	1,620 (+12%)	1mo	$330,000	$204	65
405 Seminole Rd	0.53mi	3/2.5	1,400 (-3%)	4mo	$253,000	$181	64
812 Ridgeway Ave	0.24mi	3/1.5	1,240 (-14%)	3mo	$250,000	$202	63
421 Glendale Rd	0.72mi	3/2.0	1,440 (0%)	4mo	$280,000	$194	61
8 Roundtree Cir	0.57mi	4/2.0 (+1)	1,502 (+4%)	4mo	$306,000	$204	56
44 Henry St	0.59mi	3/2.0	1,284 (-11%)	0mo	$299,900	$234	52
55 Victor St	0.50mi	3/2.5	1,589 (+10%)	4mo	$337,000	$212	52
615 Bell St	0.60mi	4/2.0 (+1)	1,265 (-12%)	4mo	$195,350	$154	41

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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-8,639
• Equity at exit: $29,821

10-year hold

• IRR: 10.6%
• Equity multiple: 2.01×
• Total profit: $56,648
• Equity at exit: $17,292

Cash invested: $56,000 (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 23661

• Home prices YoY: -16.7%
• Rents YoY: 21.4%
• Active inventory: 124
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,947 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$194 /mo · $2,328/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $212

Break-even live

Break-even rent $1,679

Max offer price $200,000

Occupancy floor 84%

Sensitivity live

Price	-10% $325	-5% $268	+0% $212	+5% $155	+10% $99
Rent	-10% $58	-5% $135	+0% $212	+5% $289	+10% $366
Rate	-1.0pp $312	-0.5pp $263	base $212	+0.5pp $160	+1.0pp $107

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
534 Brightwood Ave Hampton, VA	3.0	3.0	1528	$2,095	$1.37	45d	1	0.16mi
607 Lee St Hampton, VA	3.0	1.5	1404	$2,150	$1.53	45d	1	0.27mi
626 Chapel St Hampton, VA	4.0	2.0	1470	$1,900	$1.29	13d	1	0.27mi
708 Westwood Ave Hampton, VA	3.0	2.5	1300	$2,300	$1.77	16d	1	0.28mi
507 Highland Ave Hampton, VA	2.0	1.0	925	$1,500	$1.62	16d	1	0.32mi
901 W Queen St Hampton, VA	2.0–3.0	1.5–2.5	1096	$1,600	$1.46	45d	1	0.37mi
702 Rutherford St Hampton, VA	3.0	2.0	1445	$1,795	$1.24	24d	1	0.44mi
448 Chapel St Hampton, VA	3.0	2.0	1425	$1,850	$1.30	4d	1	0.49mi
310 Lasalle Ave Hampton, VA	3.0	2.0	1858	$2,200	$1.18	45d	1	0.64mi
1625 W Pembroke Ave Hampton, VA	2.0	1.5	950	$1,250	$1.32	24d	1	0.90mi
1625 W Pembroke Ave Unit 7 Hampton, VA	2.0	1.5	950	$1,250	$1.32	45d	1	0.91mi
3750 Kecoughtan Rd Hampton, VA	2.0	1.5	1300	$1,600	$1.23	45d	1	0.95mi
316 Fountain Way Hampton, VA	3.0	2.5	1850	$2,600	$1.41	18d	1	1.14mi
101 Prince James Dr Hampton, VA	3.0	1.0	1766	$1,645	$0.93	16d	1	1.21mi
600 Freeman Dr Hampton, VA	1.0–2.0	1.0–2.0	892	$2,008	$2.25	3d	8	1.21mi
27 Capps Qtrs #1 Hampton, VA	3.0	2.5	1734	$2,200	$1.27	45d	1	1.21mi
63 Algonquin Rd Hampton, VA	2.0	1.0	1100	$1,495	$1.36	45d	1	1.22mi
2 Abbott Dr Hampton, VA	1.0–3.0	1.0–3.5	1187	$2,891	$2.43	3d	18	1.27mi
640 Rolfe St Hampton, VA	3.0	2.0	1100	$2,000	$1.82	45d	1	1.33mi
234 Washington St Hampton, VA	2.0	1.0	1111	$2,000	$1.80	11d	1	1.38mi
236 Pocahontas Pl Hampton, VA	2.0	1.0	1262	$1,795	$1.42	3d	1	1.39mi
130 Pocahontas Pl Hampton, VA	3.0	1.0	1415	$1,695	$1.20	45d	1	1.47mi
100 Spanish Trl Hampton, VA	1.0–2.0	1.0–1.5	812	$1,450	$1.79	3d	12	1.50mi
1105 Easterly Ave Hampton, VA	3.0	1.5	1204	$1,800	$1.50	16d	1	1.50mi

Listing history 9 events

1. 2026-06-08
   statusdays on market $200,000 Under Contract 26 DOM
2. 2026-06-07
   days on market $200,000 Active 25 DOM
3. 2026-06-03
   days on market $200,000 Active 21 DOM
4. 2026-06-02
   days on market $200,000 Active 20 DOM
5. 2026-06-01
   days on market $200,000 Active 19 DOM
6. 2026-05-31
   days on market $200,000 Active 18 DOM
7. 2026-05-13
   listed $212,500 Active 94-char remark
8. 1968-05-01
   soldstatus $15,628
9. 1963-11-01
   soldstatus $14,250

ⓘ 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: $2,328 · $194/mo
• Projected year-2 tax: $2,328 · $194/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 4/10 Moderate FEMA zone X (unshaded) · 13% 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: $23,361
• − Mortgage interest: −$11,203
• − Property taxes: −$2,328
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,869
• − Management: −$1,869
• − Depreciation: −$5,818
• Taxable loss: −$726
• Est. tax savings @ 24.0%: +$174
• After-tax cash flow: $2,715/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

+1303.5% since first listed

5 events — show timeline

• 2026-06-08 Pending — REINMLS
• 2026-05-27 Price Changed $200,000 REINMLS
• 2026-05-13 Listed $212,500 REINMLS
• 1968-05-01 Sold (Public Records) $15,628 Public Records
• 1963-11-01 Sold (Public Records) $14,250 Public Records

Property tax history

+8.3%/yr

Latest (2025): $2,328 · +12.4% YoY. Source: county tax records.