205 Wedgewood Dr · Newport News, VA 23601

$250,000

3 bd · 1.0 ba · 1,112 sqft · SingleFamily public records · 225 Days on market

Built 1960 0.29 ac lot $225/sqft · 16% below area Est $297k · 16% 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 +14.6/15.0
• Cash flow +9.9/30.0
• Rent growth +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• DSCR +2.8/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming single-family brick home with great potential, ready for someone to make it their own! This 1100+ sqft, 3br, 1bath home is being sold, as is by the original owner, making it a perfect opportunity for someone wanting to customize their next home, or possibly an investor looking for their next venture. Located in a quiet, well established neighborhood, this 1/3 acre lot offers a fenced in backyard featuring a two-story barn style garage with each floor, consisting of roughly 900 ft. (1800sf total). Your family will never need a storage unit again with its 900sf walk-in, open-space second floor. The garage below is a mechanics dream, with chain horses, and steel I-beams to allow for another 900sf of open space to park or work. The home features, a wood stove, big enough to heat the entire house during the winter months. All of the plumbing pipes under the house (and drain lines all the way to the street) were professionally replaced in 2020. Call Kevin for showings, 757-272-6200.

Key facts

• Wood stove
• Fenced in backyard
• 0.29 acre lot

Tags

• FENCED IN BACKYARD
• TWO STORY BARN STYLE GARAGE
• MECHANICS DREAM GARAGE
• WOOD STOVE
• PLUMBING PIPES REPLACED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (23.3% below list).
• Recommended offer: $192k (23.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Joseph H. Saunders Elementary (math 16% / reading 35%, grade F, #1,046 of 1,108 statewide, top 95%, 621 students, 89% FRL); Homer L. Hines Middle (math 28% / reading 47%, grade F, #315 of 342 statewide, top 93%, 877 students, 85% FRL); Warwick High (math 42% / reading 77%, grade C+, #247 of 319 statewide, top 80%, 1,645 students, 86% FRL) — zoned schools average 87% FRL vs 55% district-wide (32 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).
• This rent runs 32% 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 225 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.

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 $191,810 (23.3% 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 225 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — 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: 0.77% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.66%
• DSCR: 0.88
• GRM: 10.9

CMA / ARV

• ARV (median comp): $296,713
• List price: $250,000
• Delta: -15.74%
• 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
13 Wedgewood Dr	0.25mi	3/1.0	1,150 (+3%)	8mo	$270,000	$235	76
10 Kingwood Dr	0.26mi	3/1.0	1,213 (+9%)	6mo	$259,500	$214	68
21 Sandy Lake Dr	0.44mi	3/2.0	1,162 (+4%)	6mo	$299,000	$257	63
702 Chatsworth Dr	0.19mi	3/2.0	1,250 (+12%)	6mo	$315,000	$252	62
230 Anne Dr	0.20mi	3/2.0	1,239 (+11%)	7mo	$300,000	$242	62
48 Sandy Lake Dr	0.36mi	3/2.0	1,239 (+11%)	0mo	$329,900	$266	60
50 Sandy Lake Dr	0.36mi	3/2.0	1,240 (+12%)	1mo	$330,000	$266	59
8 Sanlun Lakes Dr	0.38mi	3/2.0	1,239 (+11%)	3mo	$321,000	$259	57
7 Sunny Meade Cv	0.27mi	3/2.0	1,239 (+11%)	10mo	$306,000	$247	56
36 Crestwood Dr	0.29mi	3/2.0	1,246 (+12%)	9mo	$269,900	$217	55
13 Westmont Dr	0.43mi	3/2.0	1,239 (+11%)	9mo	$330,000	$266	50
32 Betz Ln	0.52mi	3/1.0	1,253 (+13%)	7mo	$290,000	$231	49

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: -17.6%
• Equity multiple: 0.36×
• Total profit: $-44,460
• Equity at exit: $37,276

10-year hold

• IRR: -5.0%
• Equity multiple: 0.64×
• Total profit: $-25,539
• Equity at exit: $21,615

Cash invested: $70,000 (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 23601

• Home prices YoY: -13.0%
• Rents YoY: 6.0%
• Active inventory: 89
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,918 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$255 /mo · $3,064/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-155

Break-even live

Break-even rent $2,115

Max offer price $222,579

Occupancy floor —

Sensitivity live

Price	-10% $-14	-5% $-84	+0% $-155	+5% $-226	+10% $-297
Rent	-10% $-307	-5% $-231	+0% $-155	+5% $-79	+10% $-4
Rate	-1.0pp $-29	-0.5pp $-92	base $-155	+0.5pp $-220	+1.0pp $-286

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Lenora Dr Newport News, VA	3.0	1.5	1030	$1,950	$1.89	13d	1	0.08mi
173 Louise Dr Newport News, VA	3.0	1.0–2.0	1000	$1,725	$1.73	45d	5	0.78mi
210 Durham Ct Yorktown, VA	3.0	2.5	1440	$2,100	$1.46	23d	1	0.85mi
725 Harpersville Rd Newport News, VA	3.0	1.0	1003	$1,700	$1.69	25d	1	0.90mi
110 Foundry Ct Yorktown, VA	2.0	2.5	1278	$1,700	$1.33	16d	1	0.95mi
6 Old Pond Ct Hampton, VA	3.0	2.5	1494	$2,695	$1.80	19d	1	1.11mi
101 Saint Clair Cir Yorktown, VA	2.0–3.0	2.0	1205	$2,122	$1.76	3d	20	1.36mi
1400 Summit Ln Newport News, VA	1.0–3.0	1.0–2.0	1135	$2,756	$2.43	3d	25	1.44mi
1 Guenevere Ct Apt D Newport News, VA	1.0–2.0	1.0	760	$1,029	$1.35	9d	1	1.47mi

Listing history 14 events

1. 2026-06-21
   days on market $250,000 Active 225 DOM
2. 2026-06-18
   days on market $250,000 Active 222 DOM
3. 2026-06-17
   days on market $250,000 Active 221 DOM
4. 2026-06-16
   days on market $250,000 Active 220 DOM
5. 2026-06-15
   days on market $250,000 Active 219 DOM
6. 2026-06-09
   days on market $250,000 Active 213 DOM
7. 2026-06-08
   days on market $250,000 Active 212 DOM
8. 2026-06-07
   days on market $250,000 Active 211 DOM
9. 2026-06-03
   days on market $250,000 Active 207 DOM
10. 2026-06-02
    days on market $250,000 Active 206 DOM
11. 2026-06-01
    days on market $250,000 Active 205 DOM
12. 2026-05-31
    days on market $250,000 Active 204 DOM
13. 2026-04-07
    soldstatus $255,000
14. 2025-11-08
    listed $250,000 Active 1001-char remark

    Show marketing remark (1001 chars)

    Charming single-family brick home with great potential, ready for someone to make it their own! This 1100+ sqft, 3br, 1bath home is being sold, as is by the original owner, making it a perfect opportunity for someone wanting to customize their next home, or possibly an investor looking for their next venture. Located in a quiet, well established neighborhood, this 1/3 acre lot offers a fenced in backyard featuring a two-story barn style garage with each floor, consisting of roughly 900 ft. (1800sf total). Your family will never need a storage unit again with its 900sf walk-in, open-space second floor. The garage below is a mechanics dream, with chain horses, and steel I-beams to allow for another 900sf of open space to park or work. The home features, a wood stove, big enough to heat the entire house during the winter months. All of the plumbing pipes under the house (and drain lines all the way to the street) were professionally replaced in 2020. Call Kevin for showings, 757-272-6200.

ⓘ 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: $3,064 · $255/mo
• Projected year-2 tax: $3,064 · $255/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 2/10 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,017
• − Mortgage interest: −$14,004
• − Property taxes: −$3,064
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − Depreciation: −$7,273
• Taxable loss: −$6,256
• Est. tax savings @ 24.0%: +$1,501
• After-tax cash flow: $-361/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

+2.0% since first listed

2 events — show timeline

• 2026-04-07 Sold (Public Records) $255,000 Public Records
• 2025-11-08 Listed $250,000 ForSaleByOwner.com

Property tax history

+3.9%/yr

Latest (2026): $3,064 · +10.9% YoY. Source: county tax records.