621 Center Ave · Newport News, VA 23601

$269,900

4 bd · 2.0 ba · 1,570 sqft · SingleFamily public records · 144 Days on market

Built 1920 $172/sqft · at area comps Est $304k · 11% under

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Why this score? — see what drove the D 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).

• ARV discount +12.6/15.0
• Cash flow +10.9/30.0
• Rent growth +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• DSCR +3.2/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single family home with modifications made to suit the family financially. New owner could have the option to modify back to the homes original state or create something totally new! This house currently boasts four bedrooms, three renovated baths, three kitchens, a pantry, and appliances that all convey. With approximately 1800sq ft, this home has so many possibilities including an office or in-law suite with it's own separate entrance. There is a multi-car driveway and also off street parking directly out front. Convenient location nearby shopping, restaurants, interstates, and military bases. If you're an investor working on your portfolio or a first time home buyer, this could be the property for you! Don't miss out! Put an offer in today!

Key facts

• Built 1920
• Listed 144 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (22.4% below list).
• Recommended offer: $209k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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.
• Zoned schools: Carver Elementary (math 14% / reading 32%, grade F, #1,066 of 1,108 statewide, top 96%, 600 students, 90% FRL); Crittenden Middle (math 27% / reading 46%, grade F, #320 of 342 statewide, top 95%, 740 students, 90% FRL); Heritage High (math 49% / reading 67%, grade C, #262 of 319 statewide, top 82%, 1,111 students, 85% FRL) — zoned schools average 88% FRL vs 55% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 89 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).
• This rent runs 35% of the median local income ($71k/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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y 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 $60k; list at $270k implies a 350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $209,373 (22.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.78% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.89%
• DSCR: 0.92
• GRM: 10.7

CMA / ARV

• ARV (median comp): $304,077
• List price: $269,900
• Delta: -11.24%
• 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
28 Randolph Rd	0.53mi	4/1.0	1,573 (+0%)	8mo	$320,000	$203	64
44 Randolph Rd	0.43mi	3/2.0 (-1)	1,461 (-7%)	5mo	$345,000	$236	59
1001 Lyndon Cir	0.38mi	3/1.5 (-1)	1,694 (+8%)	4mo	$278,000	$164	59
700 Hudson Ter	0.70mi	4/2.0	1,618 (+3%)	6mo	$289,900	$179	58
648 Bellwood Rd	0.55mi	4/2.0	1,458 (-7%)	6mo	$299,900	$206	57
914 North Ave	0.30mi	3/2.0 (-1)	1,769 (+13%)	4mo	$300,000	$170	57
68 Hopkins St	0.55mi	3/1.5 (-1)	1,480 (-6%)	2mo	$320,000	$216	56
1005 North Ave	0.35mi	3/2.0 (-1)	1,783 (+14%)	2mo	$265,000	$149	54
37 Roberts Trce	0.64mi	3/2.0 (-1)	1,624 (+3%)	7mo	$308,500	$190	54
87 Magnolia Dr	0.70mi	3/2.5 (-1)	1,730 (+10%)	2mo	$349,900	$202	42
88 Main St	0.66mi	3/1.0 (-1)	1,361 (-13%)	4mo	$225,000	$165	35
204 River Rd	0.66mi	3/1.5 (-1)	1,792 (+14%)	9mo	$399,000	$223	31

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 · 5.99% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.41×
• Total profit: $-44,839
• Equity at exit: $40,243

10-year hold

• IRR: -3.6%
• Equity multiple: 0.73×
• Total profit: $-20,583
• Equity at exit: $23,336

Cash invested: $75,572 (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 23601

• Home prices YoY: -13.0%
• Rents YoY: 6.0%
• Active inventory: 89
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,094 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$245 /mo · $2,940/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-119

Break-even live

Break-even rent $2,244

Max offer price $248,915

Occupancy floor —

Sensitivity live

Price	-10% $34	-5% $-42	+0% $-119	+5% $-195	+10% $-272
Rent	-10% $-284	-5% $-201	+0% $-119	+5% $-36	+10% $47
Rate	-1.0pp $17	-0.5pp $-50	base $-119	+0.5pp $-189	+1.0pp $-260

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Franklin Rd Newport News, VA	3.0	1.5	1521	$1,750	$1.15	9d	1	0.53mi
207 Ferguson Ave Newport News, VA	3.0	1.0	1350	$1,495	$1.11	25d	1	0.67mi
43 Milford Rd Newport News, VA	3.0	1.5	2000	$2,500	$1.25	45d	1	0.90mi
62 Cline Dr Hampton, VA	5.0	2.0	2043	$2,800	$1.37	25d	1	0.91mi
268 Town Pointe Way Newport News, VA	3.0	2.5	1587	$2,200	$1.39	45d	1	0.94mi
24 Brandon Rd Newport News, VA	3.0	1.5	1574	$2,495	$1.59	45d	1	0.96mi
39 Westover Rd Newport News, VA	3.0	1.5	1850	$2,000	$1.08	16d	1	1.04mi
620 73rd St Newport News, VA	3.0	2.0	1203	$1,900	$1.58	4d	1	1.18mi
314 Martha Lee Dr Hampton, VA	3.0	2.0	1210	$2,200	$1.82	25d	1	1.28mi
6901 Huntington Ave Newport News, VA	3.0	1.5	1600	$1,800	$1.12	45d	1	1.31mi
346 Sitka Ct Hampton, VA	3.0	1.5	1210	$1,675	$1.38	25d	1	1.38mi
325 67th St Newport News, VA	3.0	2.0	1595	$2,095	$1.31	45d	1	1.42mi
604 Big Bethel Rd Hampton, VA	3.0	1.5	1139	$2,300	$2.02	45d	1	1.44mi
7 Whetstone Dr Hampton, VA	4.0	2.5	2240	$2,600	$1.16	9d	1	1.47mi
23 Green Ct Newport News, VA	3.0	1.5	1200	$2,000	$1.67	16d	1	1.49mi

Listing history 40 events

1. 2026-06-21
   days on market $269,900 Active 144 DOM
2. 2026-06-18
   days on market $269,900 Active 141 DOM
3. 2026-06-17
   days on market $269,900 Active 140 DOM
4. 2026-06-16
   days on market $269,900 Active 139 DOM
5. 2026-06-15
   days on market $269,900 Active 138 DOM
6. 2026-06-09
   days on market $269,900 Active 132 DOM
7. 2026-06-08
   days on market $269,900 Active 131 DOM
8. 2026-06-07
   days on market $269,900 Active 130 DOM
9. 2026-06-03
   days on market $269,900 Active 126 DOM
10. 2026-06-02
    days on market $269,900 Active 125 DOM
11. 2026-06-01
    days on market $269,900 Active 124 DOM
12. 2026-05-31
    days on market $269,900 Active 123 DOM
13. 2026-01-27
    listed $269,900 Active 753-char remark

    Show marketing remark (753 chars)

    Single family home with modifications made to suit the family financially. New owner could have the option to modify back to the homes original state or create something totally new! This house currently boasts four bedrooms, three renovated baths, three kitchens, a pantry, and appliances that all convey. With approximately 1800sq ft, this home has so many possibilities including an office or in-law suite with it's own separate entrance. There is a multi-car driveway and also off street parking directly out front. Convenient location nearby shopping, restaurants, interstates, and military bases. If you're an investor working on your portfolio or a first time home buyer, this could be the property for you! Don't miss out! Put an offer in today!

14. 2026-01-08
    historical
15. 2025-11-26
    listed $289,900 Active
16. 2019-09-16
    historical
17. 2019-09-05
    listed $174,900 Active
18. 2019-01-04
    historical
19. 2018-10-04
    listed $165,000 Active
20. 2018-09-25
    soldstatus $60,000
21. 2018-08-21
    status Under Contract
22. 2018-08-20
    price $55,000
23. 2018-06-11
    price $127,400
24. 2018-05-30
    listed $137,400 Active
25. 2016-12-23
    status Under Contract
26. 2016-12-23
    historical
27. 2016-11-23
    price $39,999
28. 2016-10-18
    price $40,000
29. 2016-10-14
    listed $35,000 Active
30. 2016-01-27
    status Under Contract
31. 2016-01-22
    historical
32. 2015-12-29
    price $29,900
33. 2015-11-30
    listed $34,900 Active
34. 2015-10-13
    price $39,900
35. 2015-09-09
    price $44,900
36. 2015-08-07
    price $49,900
37. 2015-07-10
    price $57,350
38. 2015-06-01
    price $60,235
39. 2015-06-01
    price $60,325
40. 1998-08-12
    soldstatus $53,000

ⓘ 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: $2,940 · $245/mo
• Projected year-2 tax: $2,940 · $245/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 ≥106°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,125
• − Mortgage interest: −$15,119
• − Property taxes: −$2,940
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,010
• − Management: −$2,010
• − Depreciation: −$7,852
• Taxable loss: −$6,155
• Est. tax savings @ 24.0%: +$1,477
• After-tax cash flow: $52/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): 26,645
• Household income: $71,279
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 1175.0

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 0.59)
• Race & ethnicity: White 51% Black 38% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 2% Iranian 2% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% Arabic 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: ▼ -42.06%
• Current HPI: 281.5503
• Rent YoY: ▲ 5.99%
• 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

+409.2% since first listed

28 events — show timeline

• 2026-01-27 Listed $269,900 REINMLS
• 2026-01-08 Listing Removed — REINMLS
• 2025-11-26 Listed $289,900 REINMLS
• 2019-09-16 Listing Removed — REINMLS
• 2019-09-05 Listed $174,900 REINMLS
• 2019-01-04 Listing Removed — REINMLS
• 2018-10-04 Listed $165,000 REINMLS
• 2018-09-25 Sold (Public Records) $60,000 Public Records
• 2018-08-21 Pending — REINMLS
• 2018-08-20 Price Changed $55,000 REINMLS
• 2018-06-11 Price Changed $127,400 REINMLS
• 2018-05-30 Listed $137,400 REINMLS
• 2016-12-23 Pending — REINMLS
• 2016-12-23 Listing Removed — REINMLS
• 2016-11-23 Price Changed $39,999 REINMLS
• 2016-10-18 Price Changed $40,000 REINMLS
• 2016-10-14 Listed $35,000 REINMLS
• 2016-01-27 Pending — REINMLS
• 2016-01-22 Listing Removed — REINMLS
• 2015-12-29 Price Changed $29,900 REINMLS
• 2015-11-30 Listed $34,900 REINMLS
• 2015-10-13 Price Changed $39,900 REINMLS
• 2015-09-09 Price Changed $44,900 REINMLS
• 2015-08-07 Price Changed $49,900 REINMLS
• 2015-07-10 Price Changed $57,350 REINMLS
• 2015-06-01 Price Changed $60,325 REINMLS
• 2015-06-01 Price Changed $60,235 REINMLS
• 1998-08-12 Sold (Public Records) $53,000 Public Records

Property tax history

+6.4%/yr

Latest (2026): $2,940 · +10.3% YoY. Source: county tax records.