116 Downes St · Hampton, VA 23663

$185,500

3 bd · 1.0 ba · 1,015 sqft · SingleFamily public records · 38 Days on market

Built 1976 6,969 sqft lot $183/sqft · 10% below area Est $206k · 10% 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 +19.7/30.0
• ARV discount +12.0/15.0
• DSCR +6.2/10.0
• Schools +5.5/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced at City assessment! Bring all offers! Cash only sale! Property being sold as-is, where-is! Seller to make no repairs! Great location in Phoebus! A little work will make this one a good flip or rental!

Key facts

• 6,969 sq ft lot
• Built 1976
• Listed 38 days

Property features AI

Finance

• Other: Lot approximately 0.16 acre (lot front 40', depth 210'); Seven total rooms (living room, great room, dining room, family room, kitchen, breakfast area, foyer, porch, attic listed among spaces)
• HOA & community: No HOA fees indicated

Exterior

• Parking: Off-street parking; Driveway parking spaces; Street parking
• Utilities: City/County water; City/County sewer; Electric power (standard)
• Home design: Detached single-family home; Bungalow / Cottage / Ranch style; One story; One living level; Entry level rooms on main floor
• Construction: Aluminum and brick siding; Asphalt shingle roof; Crawlspace and slab foundation
• Exterior features: Wooded lot; Back partial fence

Interior

• Kitchen: Breakfast area; Kitchen
• Bedrooms: First-floor master bedroom; Additional bedroom
• Bathrooms: One full bathroom; Master bedroom with full bathroom on first floor
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Scuttle access
• Laundry & utility: Main floor laundry; Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $186k.

Deal economics

• At list price, monthly cash flow is $217 ($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 $184k (0.9% below list).
• Recommended offer: $180k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: Captain John Smith Elementary (math 42% / reading 57%, grade D, #742 of 1,108 statewide, top 70%, 393 students, 82% FRL); Phoebus High (math 57% / reading 76%, grade B, #195 of 319 statewide, top 62%, 1,365 students, 86% FRL) — zoned schools average 84% FRL vs 49% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 80 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 41% of the median local income ($54k/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.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $186k implies a 485% 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 $179,935 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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: 0.99% ✗
• Cap rate: 7.70%
• Cash-on-cash: 5.01%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

• ARV (median comp): $205,930
• List price: $185,500
• Delta: -9.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Booker St	0.42mi	3/1.5	977 (-4%)	5mo	$215,000	$220	68
75 W Virginia Ave	0.74mi	3/1.0	1,025 (+1%)	1mo	$140,000	$137	63
605 E Mercury Blvd	0.54mi	2/1.0 (-1)	1,013 (-0%)	8mo	$219,000	$216	63
37 N Mallory St	0.40mi	3/1.0	1,113 (+10%)	4mo	$161,000	$145	62
10 Booker St	0.34mi	2/1.0 (-1)	911 (-10%)	2mo	$126,454	$139	60
26 Woodland Rd	0.64mi	2/1.0 (-1)	1,009 (-1%)	6mo	$75,000	$74	59
12 N Hope St	0.30mi	3/2.0	1,120 (+10%)	7mo	$249,800	$223	59
112 W Kelly Ave	0.70mi	3/1.0	947 (-7%)	2mo	$205,000	$216	54
41 W Virginia Ave	0.71mi	3/1.0	944 (-7%)	10mo	$185,000	$196	47
111 E Cummings Ave	0.55mi	2/1.0 (-1)	900 (-11%)	8mo	$205,900	$229	44
202 Clay St	0.61mi	2/1.0 (-1)	1,152 (+14%)	4mo	$203,500	$177	41
21 W Kelly Ave	0.65mi	2/1.0 (-1)	888 (-12%)	9mo	$210,000	$236	37

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 · 3.13% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-16,000
• Equity at exit: $27,659

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $4,850
• Equity at exit: $16,039

Cash invested: $51,940 (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 23663

• Home prices YoY: -4.3%
• Rents YoY: 3.1%
• Active inventory: 80
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,839 high
• Mortgage (P&I): −$973
• Tax from tax record: −$186 /mo · $2,229/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $217

Break-even live

Break-even rent $1,564

Max offer price $185,500

Occupancy floor 83%

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: $46,375
• Closing costs: $5,565
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Bainbridge Ave Hampton, VA	2.0	1.5	1306	$1,600	$1.23	1d	1	0.36mi
4 Bainbridge Ave Unit B Hampton, VA	2.0	1.5	1050	$1,550	$1.48	43d	1	0.41mi
150 Ingalls Rd Unit 204 Fort Monroe, VA	2.0	1.0	872	$2,060	$2.36	17d	1	0.60mi
221 W Kelly Ave Hampton, VA	3.0	1.0	1200	$2,350	$1.96	43d	1	0.72mi
949 N Mallory St Hampton, VA	2.0	1.5	1054	$1,250	$1.19	1d	1	0.95mi
305 Old Point Ave Hampton, VA	3.0	1.0	1186	$1,750	$1.48	43d	1	1.23mi
1210 Pansy St Hampton, VA	2.0	2.0	1409	$2,000	$1.42	43d	1	1.24mi
19 Magnolia Pl Hampton, VA	3.0	1.5	1405	$2,100	$1.49	14d	1	1.34mi
1115 E Pembroke Ave Hampton, VA	2.0	1.0	850	$1,275	$1.50	1d	1	1.39mi
234 Washington St Hampton, VA	2.0	1.0	1111	$2,000	$1.80	10d	1	1.42mi

Listing history 17 events

1. 2026-06-18
   days on market $185,500 Active 38 DOM
2. 2026-06-17
   days on market $185,500 Active 37 DOM
3. 2026-06-16
   days on market $185,500 Active 36 DOM
4. 2026-06-15
   pricedays on market $185,500 Active 35 DOM
5. 2026-06-13
   days on market $195,500 Active 33 DOM
6. 2026-06-13
   days on market $195,500 Active 32 DOM
7. 2026-06-09
   days on market $195,500 Active 29 DOM
8. 2026-06-08
   days on market $195,500 Active 28 DOM
9. 2026-06-07
   days on market $195,500 Active 27 DOM
10. 2026-06-03
    days on market $195,500 Active 23 DOM
11. 2026-06-02
    days on market $195,500 Active 22 DOM
12. 2026-06-01
    days on market $195,500 Active 21 DOM
13. 2026-05-31
    days on market $195,500 Active 20 DOM
14. 2026-05-09
    listed $195,500 Active 207-char remark

    Show marketing remark (207 chars)

    Priced at City assessment! Bring all offers! Cash only sale! Property being sold as-is, where-is! Seller to make no repairs! Great location in Phoebus! A little work will make this one a good flip or rental!

15. 2026-05-09
    listed $195,500 Active 207-char remark

    Show marketing remark (207 chars)

    Priced at City assessment! Bring all offers! Cash only sale! Property being sold as-is, where-is! Seller to make no repairs! Great location in Phoebus! A little work will make this one a good flip or rental!

16. 2026-05-09
    listed $195,900 Active

    Show marketing remark (207 chars)

    Priced at City assessment! Bring all offers! Cash only sale! Property being sold as-is, where-is! Seller to make no repairs! Great location in Phoebus! A little work will make this one a good flip or rental!

17. 1985-02-01
    soldstatus $31,710

ⓘ 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: $2,229 · $186/mo
• Projected year-2 tax: $2,229 · $186/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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,067
• − Mortgage interest: −$10,391
• − Property taxes: −$2,229
• − Insurance: −$928
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$5,396
• Taxable loss: −$407
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $2,701/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): 14,656
• Household income: $54,336
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 803.0

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 0.63)
• Race & ethnicity: Black 48% White 37% Two or more races 11% Hispanic / Latino 5%
• Common ancestry: Romanian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -14.71%
• Current HPI: 328.8386
• Rent YoY: ▲ 3.13%
• 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

+485.0% since first listed

7 events — show timeline

• 2026-06-14 Price Changed $185,500 REINMLS
• 2026-06-14 Price Changed $185,500 CBRAR
• 2026-06-14 Price Changed $185,500 WMLS
• 2026-05-09 Listed $195,500 WMLS
• 2026-05-09 Listed $195,900 CBRAR
• 2026-05-09 Listed $195,500 REINMLS
• 1985-02-01 Sold (Public Records) $31,710 Public Records

Property tax history

+13.8%/yr

Latest (2025): $2,229 · +19.9% YoY. Source: county tax records.