1308 Tabb Ave · Hopewell, VA 23860

$137,000

3 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 5 Days on market

Built 1948 7,501 sqft lot Est $239k · 43% under

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Why this score? — see what drove the B- 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.2/10.0
• Rent growth +4.7/5.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 1-bath home sits on a spacious lot. Featuring a double driveway for ample parking, this property has been a solid rental for many years and is ready for its next chapter. Charming cottage-style ranch with tons of potential! With a little TLC, this home could truly shine—ideal for investors, first-time buyers, or anyone looking to add their personal touch. Cozy layout and endless opportunity to make it your own. Don’t miss your chance to unlock the potential in this hidden gem! Location is key, and this one delivers with easy access to I-95 and I-295, making commuting a breeze and putting shopping, dining, and local amenities just minutes away. Don’t m

Key facts

• Easy access to i-295
• Easy access to i-95
• Double driveway

Tags

• DOUBLE DRIVEWAY
• SPACIOUS LOT
• EASY ACCESS TO I-95
• EASY ACCESS TO I-295

Property features AI

Finance

• Other: Lot roughly 0.172 acres; Above-grade finished area recorded

Exterior

• Parking: Detached oversized garage
• Utilities: Public water; Public sewer; Electric power
• Home design: Single-story home; Resale property; Composition roof; Frame construction with drywall and vinyl siding; Zoned R2
• Construction: Built previously (actual year built recorded); Frame construction; Vinyl siding; Composition roof; Crawl space foundation
• Exterior features: Front and rear porches; Porch; Lighting; Storage; Shed; Outbuilding / other structure

Interior

• Kitchen: No specific appliances listed for kitchen
• Bedrooms: Includes bedroom on main level
• Flooring: Linoleum; Partially carpeted
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump for heating; Electric heating; Heat pump cooling
• Interior features: Bedroom on the main level; Breakfast area
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Cap rate 9.2% vs local median 4.2% in Hopewell — 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 70/100 on livability (#224 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A-; Watch: crime D+, amenities F, commute F.
• Hopewell City Public School District (suburban): math 23% / reading 49% proficiency, ranked #129 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.9%/yr); 228 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42 units permitted in Hopewell city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $947 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hopewell County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 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 $57k; list at $137k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 42% 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 $137,000

Questions for the listing agent

1. Built in 1948 — 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 A-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. Crime grade is D 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?
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: 1.12% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.52%
• DSCR: 1.47
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $238,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1701 Arlington Rd	0.22mi	3/2.0	1,104 (-6%)	2mo	$270,000	$245	74
1702 Tabb Ave	0.24mi	3/1.5	1,264 (+8%)	3mo	$225,000	$178	71
3206 Elmwood Ave	0.65mi	3/1.5	1,170 (0%)	1mo	$140,000	$120	67
1105 Arlington Rd	0.31mi	3/2.0	1,080 (-8%)	4mo	$219,950	$204	65
3208 Granby St	0.52mi	2/1.5 (-1)	1,094 (-6%)	1mo	$220,000	$201	58
1240 Maryville Ave	0.32mi	3/2.0	1,325 (+13%)	4mo	$290,500	$219	55
1104 Terrace Ave	0.44mi	3/2.0	1,028 (-12%)	3mo	$177,500	$173	53
2005 Dublin St	0.50mi	3/2.0	1,040 (-11%)	4mo	$235,000	$226	50
3213 Norfolk St	0.72mi	3/1.5	1,245 (+6%)	4mo	$158,000	$127	50
1800 New Lincoln Cir	0.57mi	3/2.0	1,324 (+13%)	1mo	$250,000	$189	46
3104 Saint Charles	0.72mi	3/2.0	1,315 (+12%)	1mo	$305,000	$232	41
1802 Freeman St	0.71mi	3/1.5	1,008 (-14%)	4mo	$220,000	$218	38

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: 4.7%
• Equity multiple: 1.19×
• Total profit: $7,327
• Equity at exit: $20,427

10-year hold

• IRR: 18.2%
• Equity multiple: 2.85×
• Total profit: $70,904
• Equity at exit: $11,845

Cash invested: $38,360 (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 23860

• Home prices YoY: -22.0%
• Rents YoY: 8.9%
• Active inventory: 228
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,539 high
• Mortgage (P&I): −$718
• Tax from tax record: −$105 /mo · $1,254/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $336

Break-even live

Break-even rent $1,114

Max offer price $137,000

Occupancy floor 73%

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1206 Tabb Ave Hopewell, VA	3.0	1.0	974	$1,470	$1.51	43d	1	0.03mi
1004 Sunnyside Ave Hopewell, VA	4.0	2.0	875	$1,737	$1.99	4d	1	0.23mi
2303 Maclin Cir Hopewell, VA	3.0	2.0	1150	$1,499	$1.30	3d	1	0.39mi
2305 Poplar St Unit B Hopewell, VA	2.0	1.5	959	$1,050	$1.09	23d	1	0.46mi
1900 Arlington Rd Hopewell, VA	3.0	2.0	1216	$1,695	$1.39	43d	1	0.52mi
3314 Granby St Hopewell, VA	3.0	1.0	1469	$1,600	$1.09	23d	1	0.63mi
522 S 22nd Ave Hopewell, VA	3.0	2.0	1368	$1,800	$1.32	23d	1	0.63mi
507 Hill Ave Hopewell, VA	3.0	1.0	932	$1,395	$1.50	23d	1	0.65mi
552 S 22nd Ave Hopewell, VA	3.0	2.0	1368	$1,800	$1.32	23d	1	0.65mi
3309 Carlisle Ave Hopewell, VA	3.0	1.0	1152	$1,395	$1.21	21d	1	0.67mi
3200 Saint Charles St Hopewell, VA	3.0	1.5	1272	$1,595	$1.25	43d	1	0.74mi
460 Highland Ave Hopewell, VA	3.0	1.0	1212	$1,700	$1.40	19d	1	0.77mi
600 Winston Churchill Dr Hopewell, VA	2.0	1.0	900	$1,075	$1.19	1d	1	0.82mi
800 Chestnut St Hopewell, VA	2.0	1.0	884	$1,395	$1.58	43d	1	0.83mi
3500 Oaklawn Blvd Hopewell, VA	3.0	1.0	1000	$1,650	$1.65	17d	1	0.85mi
3502 Oaklawn Blvd Hopewell, VA	3.0	1.0	1124	$1,850	$1.65	21d	1	0.85mi
305 S 9th Ave Hopewell, VA	4.0	1.0	1056	$1,599	$1.51	3d	1	1.09mi
221 S Mesa Dr Hopewell, VA	3.0	1.0	1152	$1,300	$1.13	23d	1	1.13mi
3807 Woodlawn St Unit 8 Hopewell, VA	2.0	1.0	900	$1,095	$1.22	4d	1	1.17mi
2009 Day St Hopewell, VA	2.0	1.0	780	$895	$1.15	23d	1	1.27mi
1201 W City Point Rd Hopewell, VA	1.0–2.0	1.0–1.5	710	$1,250	$1.76	14d	3	1.31mi
1201 W City Point Rd Hopewell, VA	1.0–2.0	1.0–1.5	711	$1,250	$1.76	1d	7	1.32mi
3568 Perrins Hill Way Prince George, VA	3.0	2.5	1500	$2,200	$1.47	1d	1	1.35mi
1208 W Broadway Hopewell, VA	3.0	1.0	1200	$1,495	$1.25	16d	1	1.45mi

Listing history 50 events

1. 2026-05-13
   status Pending 845-char remark
2. 2026-05-11
   price $139,750 845-char remark
3. 2026-05-08
   price $139,799 845-char remark
4. 2026-05-04
   price $139,850 845-char remark
5. 2026-05-02
   price $139,900 845-char remark
6. 2026-04-29
   price $139,955 845-char remark
7. 2026-04-28
   status Active 845-char remark
8. 2026-04-23
   status Pending 845-char remark
9. 2026-04-15
   listed $139,999 Active 845-char remark
10. 2026-03-29
    historical
11. 2026-03-27
    price $148,805
12. 2026-03-23
    price $148,850
13. 2026-03-20
    price $148,900
14. 2026-03-16
    price $148,945
15. 2026-03-13
    price $148,995
16. 2026-03-11
    status Active
17. 2026-03-09
    status Pending
18. 2026-03-04
    price $149,505
19. 2026-02-26
    price $149,555
20. 2026-02-20
    price $149,999
21. 2026-02-20
    listed $139,995 Active
22. 2026-01-31
    historical
23. 2026-01-27
    price $149,250
24. 2026-01-25
    price $149,300
25. 2026-01-20
    price $149,350
26. 2026-01-16
    price $149,400
27. 2026-01-13
    price $149,450
28. 2026-01-09
    price $149,500
29. 2026-01-02
    price $149,999
30. 2025-12-27
    listed $154,500 Active
31. 2025-12-15
    historical
32. 2025-12-12
    price $154,750
33. 2025-12-09
    price $154,800
34. 2025-12-04
    price $154,850
35. 2025-11-28
    price $154,900
36. 2025-11-20
    price $154,949
37. 2025-11-18
    status Active
38. 2025-11-15
    historical
39. 2025-11-14
    price $159,949
40. 2025-10-29
    listed $159,999 Active
41. 2025-10-27
    historical
42. 2020-02-06
    soldstatus $57,000
43. 2020-02-05
    soldstatus $57,000 Closed
44. 2020-01-15
    status Pending
45. 2020-01-15
    status Active
46. 2020-01-13
    status Pending
47. 2019-09-17
    listed $77,950 Active
48. 2016-01-16
    historical
49. 2015-09-16
    listed $71,400 Active
50. 1996-02-16
    soldstatus $26,900

ⓘ 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: $1,254 · $105/mo
• Projected year-2 tax: $1,254 · $105/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 8/10 Severe 7 d/yr ≥110°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,474
• − Mortgage interest: −$7,674
• − Property taxes: −$1,254
• − Insurance: −$685
• − Repairs & maintenance: −$1,478
• − Management: −$1,478
• − Depreciation: −$3,985
• Taxable income: $1,919
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $3,573/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: Hopewell City Public School District
• NCES district ID: 5101980
• Math proficiency: 23% ▼ -54.00%
• Reading proficiency: 49% ▼ -18.00%
• Median HH income: $38,234
• Composite: 29.95/100
• National rank: #6377
• State rank: #129 of 131 in VA

Livability — Hopewell

• Score: 70/100
• State rank: #224
• US rank: #7437

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment F Housing A- Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hopewell, VA
• County: Hopewell City · 31,404 people
• City population: 31,404
• Metro: Richmond, VA
• Population (ZIP): 31,404
• Household income: $62,141
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1055.0

Population outlook (Hopewell County) Hauer SSP2

• Today (2025): 21,776 people
• By 2030: 21,457 · -1.5%
• By 2040: 20,882 · -4.1%
• By 2050: 20,239 · -7.1%
• By 2075: 18,905 · -13.2%
• By 2100: 16,949 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 43% Black 42% Two or more races 9% Hispanic / Latino 8% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Hopewell

• 2024 margin: D (+13.8) · D 56.4% · R 42.6% · Other 1.0%
• 2008→2024 swing: +1.8pp toward D · 2008: 11.9pp · 2024: 13.8pp
• All cycles: 2024: D+13.8 2020: D+14.7 2016: D+9.3 2012: D+16.0 2008: D+11.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.28%
• Current HPI: 302.6343
• Rent YoY: ▲ 8.86%
• Metro: Richmond, VA
• 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

+409.3% since first listed

54 events — show timeline

• 2026-05-28 Pending — CVRMLS
• 2026-05-23 Listed $137,000 CVRMLS
• 2026-05-22 Relisted — CVRMLS
• 2026-05-16 Listing Removed — CVRMLS
• 2026-05-13 Pending — CVRMLS
• 2026-05-11 Price Changed $139,750 CVRMLS
• 2026-05-08 Price Changed $139,799 CVRMLS
• 2026-05-04 Price Changed $139,850 CVRMLS
• 2026-05-02 Price Changed $139,900 CVRMLS
• 2026-04-29 Price Changed $139,955 CVRMLS
• 2026-04-28 Relisted — CVRMLS
• 2026-04-23 Pending — CVRMLS
• 2026-04-15 Listed $139,999 CVRMLS
• 2026-03-29 Listing Removed — CVRMLS
• 2026-03-27 Price Changed $148,805 CVRMLS
• 2026-03-23 Price Changed $148,850 CVRMLS
• 2026-03-20 Price Changed $148,900 CVRMLS
• 2026-03-16 Price Changed $148,945 CVRMLS
• 2026-03-13 Price Changed $148,995 CVRMLS
• 2026-03-11 Relisted — CVRMLS
• 2026-03-09 Pending — CVRMLS
• 2026-03-04 Price Changed $149,505 CVRMLS
• 2026-02-26 Price Changed $149,555 CVRMLS
• 2026-02-20 Price Changed $149,999 CVRMLS
• 2026-02-20 Listed $139,995 CVRMLS
• 2026-01-31 Listing Removed — CVRMLS
• 2026-01-27 Price Changed $149,250 CVRMLS
• 2026-01-25 Price Changed $149,300 CVRMLS
• 2026-01-20 Price Changed $149,350 CVRMLS
• 2026-01-16 Price Changed $149,400 CVRMLS
• 2026-01-13 Price Changed $149,450 CVRMLS
• 2026-01-09 Price Changed $149,500 CVRMLS
• 2026-01-02 Price Changed $149,999 CVRMLS
• 2025-12-27 Listed $154,500 CVRMLS
• 2025-12-15 Listing Removed — CVRMLS
• 2025-12-12 Price Changed $154,750 CVRMLS
• 2025-12-09 Price Changed $154,800 CVRMLS
• 2025-12-04 Price Changed $154,850 CVRMLS
• 2025-11-28 Price Changed $154,900 CVRMLS
• 2025-11-20 Price Changed $154,949 CVRMLS
• 2025-11-18 Relisted — CVRMLS
• 2025-11-15 Listing Removed — CVRMLS
• 2025-11-14 Price Changed $159,949 CVRMLS
• 2025-10-29 Listed $159,999 CVRMLS
• 2025-10-27 Coming Soon — CVRMLS
• 2020-02-06 Sold (Public Records) $57,000 Public Records
• 2020-02-05 Sold (MLS) $57,000 CVRMLS
• 2020-01-15 Pending — CVRMLS
• 2020-01-15 Relisted — CVRMLS
• 2020-01-13 Pending — CVRMLS
• 2019-09-17 Listed $77,950 CVRMLS
• 2016-01-16 Listing Removed — CVRMLS
• 2015-09-16 Listed $71,400 CVRMLS
• 1996-02-16 Sold (Public Records) $26,900 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,254 · +8.1% YoY. Source: county tax records.