36 Whetstone Dr · Hampton, VA 23666

$385,000

4 bd · 2.5 ba · 2,660 sqft · SingleFamily public records · 80 Days on market

Built 1971 0.28 ac lot $145/sqft · 15% below area Est $451k · 15% 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 +14.1/15.0
• Cash flow +8.1/30.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Hampton's premier community, Farmington, this charming home offers a peaceful setting with easy access to all the conveniences of city life. With spacious living areas, including a bright living room and dining area, a separate formal dining room, and a cozy den and sunroom, this home offers comfort and versatility for any lifestyle. The big walk-in closet in the primary suite adds convenience, while the private fenced yard is perfect for gatherings, providing an ideal outdoor space to relax and enjoy. Enjoy the warmth of a welcoming neighborhood with local parks, including Bluebird Gap Farm, which provides perfect spots for outdoor activities. Minutes from Hampton's shopping, dining, and recreational options, including nearby beaches and cultural attractions. Conveniently located near top-rated schools and major commuting routes, making it an excellent choice for those seeking a balanced living experience. Schedule a showing today. Some pics have been virtually staged.

Key facts

• 0.28 acre lot
• 2 garage spots
• Pool

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $385k.

Deal economics

• At list price, monthly cash flow is $-379 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $318k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (29.5% below list).
• Recommended offer: $271k (29.5% below list) — sets the bar for 1% rule.

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 (+4.0%/yr); 238 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 68 units permitted in Hampton city in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($73k/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 $3k of loan paydown is wiped out by about $12k 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 80 days — a 6% lower offer ($362k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $40k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $271,425 (29.5% 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 80 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — 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. 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?
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 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: 0.70% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.22%
• DSCR: 0.81
• GRM: 11.8

CMA / ARV

• ARV (median comp): $450,592
• List price: $385,000
• Delta: -14.56%
• 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
5 Boxelder Ct	0.18mi	4/2.5	2,578 (-3%)	4mo	$445,000	$173	83
2 Ridge Lake Dr	0.17mi	5/2.5 (+1)	2,632 (-1%)	7mo	$450,000	$171	79
4 Staghorn Ct	0.26mi	4/2.5	2,764 (+4%)	8mo	$450,000	$163	75
14 Post Oak Ct	0.15mi	4/2.5	2,332 (-12%)	1mo	$420,000	$180	71
5 Landmark Ct	0.32mi	4/2.5	2,492 (-6%)	8mo	$408,000	$164	68
16 Sherry Dell Dr	0.24mi	4/2.5	3,002 (+13%)	5mo	$505,000	$168	63
8 Diamond Hill Rd	0.32mi	4/3.0	2,890 (+9%)	7mo	$450,000	$156	63
5 Mary Ann Dr	0.57mi	5/2.5 (+1)	2,856 (+7%)	3mo	$515,000	$180	54
29 Diamond Hill Rd	0.47mi	4/2.5	2,301 (-14%)	8mo	$455,000	$198	49
373 Manning Ln	0.67mi	3/2.5 (-1)	2,380 (-10%)	1mo	$520,000	$218	46
202 Upland Dr	0.70mi	4/2.5	2,400 (-10%)	8mo	$435,000	$181	44
43 Pelchat Dr	0.74mi	5/3.5 (+1)	2,470 (-7%)	5mo	$547,842	$222	40

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -22.3%
• Equity multiple: 0.22×
• Total profit: $-83,686
• Equity at exit: $57,405

10-year hold

• IRR: -14.2%
• Equity multiple: 0.15×
• Total profit: $-92,003
• Equity at exit: $33,288

Cash invested: $107,800 (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 23666

• Home prices YoY: -15.7%
• Rents YoY: 4.0%
• Active inventory: 238
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,714 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$344 /mo · $4,129/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $-379

Break-even live

Break-even rent $3,194

Max offer price $318,007

Occupancy floor —

Sensitivity live

Price	-10% $-161	-5% $-270	+0% $-379	+5% $-488	+10% $-597
Rent	-10% $-594	-5% $-486	+0% $-379	+5% $-272	+10% $-165
Rate	-1.0pp $-185	-0.5pp $-281	base $-379	+0.5pp $-479	+1.0pp $-580

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Whetstone Dr Hampton, VA	4.0	2.5	2240	$2,600	$1.16	9d	1	0.23mi
13 Estate Dr Hampton, VA	4.0	2.5	3356	$3,300	$0.98	16d	1	0.27mi
2 Eisele Ct Hampton, VA	4.0	2.5	2317	$2,795	$1.21	9d	1	0.58mi
62 Cline Dr Hampton, VA	5.0	2.0	2043	$2,800	$1.37	25d	1	0.72mi
323 Michael Selby Dr Hampton, VA	3.0	2.5	1952	$2,700	$1.38	16d	1	0.82mi
806 Terrace Dr Newport News, VA	4.0	3.0	2380	$2,600	$1.09	45d	1	1.41mi

Listing history 26 events

1. 2026-06-21
   days on market $385,000 Active 80 DOM
2. 2026-06-18
   days on market $385,000 Active 77 DOM
3. 2026-06-18
   price $385,000 Active 76 DOM
4. 2026-06-17
   days on market $400,000 Active 76 DOM
5. 2026-06-16
   days on market $400,000 Active 75 DOM
6. 2026-06-15
   days on market $400,000 Active 74 DOM
7. 2026-06-13
   days on market $400,000 Active 72 DOM
8. 2026-06-13
   days on market $400,000 Active 71 DOM
9. 2026-06-09
   days on market $400,000 Active 68 DOM
10. 2026-06-08
    days on market $400,000 Active 67 DOM
11. 2026-06-07
    days on market $400,000 Active 66 DOM
12. 2026-06-03
    days on market $400,000 Active 62 DOM
13. 2026-06-02
    days on market $400,000 Active 61 DOM
14. 2026-06-01
    days on market $400,000 Active 60 DOM
15. 2026-05-31
    days on market $400,000 Active 59 DOM
16. 2026-04-20
    price $400,000 995-char remark

    Show marketing remark (995 chars)

    Located in Hampton's premier community, Farmington, this charming home offers a peaceful setting with easy access to all the conveniences of city life. With spacious living areas, including a bright living room and dining area, a separate formal dining room, and a cozy den and sunroom, this home offers comfort and versatility for any lifestyle. The big walk-in closet in the primary suite adds convenience, while the private fenced yard is perfect for gatherings, providing an ideal outdoor space to relax and enjoy. Enjoy the warmth of a welcoming neighborhood with local parks, including Bluebird Gap Farm, which provides perfect spots for outdoor activities. Minutes from Hampton's shopping, dining, and recreational options, including nearby beaches and cultural attractions. Conveniently located near top-rated schools and major commuting routes, making it an excellent choice for those seeking a balanced living experience. Schedule a showing today. Some pics have been virtually staged.

17. 2026-04-02
    listed $425,000 Active 995-char remark

    Show marketing remark (995 chars)

    Located in Hampton's premier community, Farmington, this charming home offers a peaceful setting with easy access to all the conveniences of city life. With spacious living areas, including a bright living room and dining area, a separate formal dining room, and a cozy den and sunroom, this home offers comfort and versatility for any lifestyle. The big walk-in closet in the primary suite adds convenience, while the private fenced yard is perfect for gatherings, providing an ideal outdoor space to relax and enjoy. Enjoy the warmth of a welcoming neighborhood with local parks, including Bluebird Gap Farm, which provides perfect spots for outdoor activities. Minutes from Hampton's shopping, dining, and recreational options, including nearby beaches and cultural attractions. Conveniently located near top-rated schools and major commuting routes, making it an excellent choice for those seeking a balanced living experience. Schedule a showing today. Some pics have been virtually staged.

18. 2022-01-28
    soldstatus $335,000
19. 2022-01-27
    soldstatus $335,000
20. 2022-01-27
    soldstatus $335,000 Closed
21. 2022-01-08
    status Under Contract
22. 2022-01-06
    historical Active Under Contract
23. 2022-01-06
    status Pending
24. 2022-01-03
    listed $325,000 Active
25. 2021-12-31
    listed $325,000 Active
26. 2021-12-31
    listed $325,000

ⓘ 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: $4,129 · $344/mo
• Projected year-2 tax: $4,129 · $344/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 · 17 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: $32,571
• − Mortgage interest: −$21,566
• − Property taxes: −$4,129
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,606
• − Management: −$2,606
• − Depreciation: −$11,200
• Taxable loss: −$11,460
• Est. tax savings @ 24.0%: +$2,751
• After-tax cash flow: $-1,800/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): 54,233
• Household income: $72,568
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2951.0

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 0.65)
• Race & ethnicity: Black 51% White 29% Two or more races 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Italian 1% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Vietnamese 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: ▼ -49.01%
• Current HPI: 262.821
• Rent YoY: ▲ 4.05%
• 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

+23.1% since first listed

11 events — show timeline

• 2026-04-20 Price Changed $400,000 REINMLS
• 2026-04-02 Listed $425,000 REINMLS
• 2022-01-28 Sold (Public Records) $335,000 Public Records
• 2022-01-27 Sold (MLS) $335,000 WMLS
• 2022-01-27 Sold (MLS) $335,000 CBRAR
• 2022-01-08 Pending — REINMLS
• 2022-01-06 Contingent — REINMLS
• 2022-01-06 Pending — WMLS
• 2022-01-03 Listed $325,000 WMLS
• 2021-12-31 Listed $325,000 CBRAR
• 2021-12-31 Listed $325,000 REINMLS

Property tax history

+8.1%/yr

Latest (2025): $4,129 · +0.4% YoY. Source: county tax records.