111 Rivermont Dr · Newport News, VA 23601

$15,000

3 bd · 2.0 ba · 55 sqft · Land public records · 8 Days on market

Built 1961

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer upper home available in Hilton MHC! This is a 3 Bedroom, 2 Bath Home. Home size 10x54 1961 Magnolia home for SALE in a quiet mobile home community in Newport News. This home has had [repairs completed] but still needs [repairs needed], making it a great opportunity for a new handy homeowner or investor! Home is sold as-is. Sales price is $5,000. Lot rent is $725/month. Up to 2 pets allowed, weighing 45 pounds or less. Background, credit check, and eviction check are required.

Key facts

• Built 1961
• Listed 7 days

Property features AI

Exterior

• Home design: Built in 1961
• Construction: Original construction from 1961
• Exterior features: Located in the Central Newport News subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $15k).
• Cap rate 103.8% 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.
• Market conditions: Rents rising fast (+6.0%/yr); 89 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 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.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

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 $15,000

Questions for the listing agent

1. Built in 1961 — 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 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 11.16% ✓
• Cap rate: 103.81%
• Cash-on-cash: 348.28%
• DSCR: 16.50
• GRM: 0.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.99% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 20.15×
• Total profit: $80,418
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 46.89×
• Total profit: $192,734
• Equity at exit: $1,297

Cash invested: $4,200 (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: 0.7×

Monthly cashflow live

• Estimated rent: $1,674 high
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $1,219

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 22%

Sensitivity live

Price	-10% $1,229	-5% $1,224	+0% $1,219	+5% $1,214	+10% $1,209
Rent	-10% $1,087	-5% $1,153	+0% $1,219	+5% $1,285	+10% $1,351
Rate	-1.0pp $1,227	-0.5pp $1,223	base $1,219	+0.5pp $1,215	+1.0pp $1,211

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Tyler Ave Unit 1A Newport News, VA	2.0	1.0	950	$1,075	$1.13	44d	1	0.14mi
511 Randolph Rd Unit F Newport News, VA	2.0	1.0	650	$995	$1.53	44d	1	0.18mi
531 Bulkeley Pl Newport News, VA	2.0–3.0	1.0–1.5	780	$1,891	$2.42	2d	20	0.22mi
207 Ferguson Ave Newport News, VA	3.0	1.0	1350	$1,495	$1.11	24d	1	0.29mi
315 Piez Ave Newport News, VA	2.0	1.0	1081	$1,395	$1.29	12d	1	0.34mi
606 Randolph Rd Newport News, VA	3.0	1.0	989	$1,475	$1.49	44d	1	0.36mi
43 Milford Rd Newport News, VA	3.0	1.5	2000	$2,500	$1.25	44d	1	0.47mi
25 Franklin Rd Newport News, VA	3.0	1.5	1521	$1,750	$1.15	8d	1	0.47mi
24 Brandon Rd Newport News, VA	3.0	1.5	1574	$2,495	$1.59	44d	1	0.52mi
39 Westover Rd Newport News, VA	3.0	1.5	1850	$2,000	$1.08	15d	1	0.61mi
268 Town Pointe Way Newport News, VA	3.0	2.5	1587	$2,200	$1.39	44d	1	0.61mi
624 Sterling St Newport News, VA	2.0	1.0	821	$1,500	$1.83	18d	1	0.76mi
5014 Hazelwood Rd Newport News, VA	3.0	1.0	955	$1,900	$1.99	2d	1	0.90mi
5007 Hazelwood Rd Newport News, VA	4.0	2.0	—	$1,995	—	2d	1	0.96mi
23 Green Ct Newport News, VA	3.0	1.5	1200	$2,000	$1.67	15d	1	1.15mi
27 Holly Dr Newport News, VA	3.0	2.5	2700	$2,800	$1.04	18d	1	1.24mi
6010 Jefferson Ave Newport News, VA	2.0	1.0	900	$1,245	$1.38	44d	2	1.30mi
495 Nelson Dr Newport News, VA	1.0–2.0	1.0	710	$1,404	$1.98	4d	5	1.31mi
7 Whetstone Dr Hampton, VA	4.0	2.5	2240	$2,600	$1.16	8d	1	1.42mi
11054 Warwick Blvd Newport News, VA	1.0–2.0	1.0	688	$1,450	$2.11	4d	11	1.44mi
602 74th St Newport News, VA	2.0	1.0	950	$1,080	$1.14	24d	1	1.50mi

Listing history 6 events

1. 2026-06-21
   days on market $15,000 Active 8 DOM
2. 2026-06-18
   days on market $15,000 Active 5 DOM
3. 2026-06-17
   days on market $15,000 Active 4 DOM
4. 2026-06-16
   days on market $15,000 Active 3 DOM
5. 2026-06-15
   remarks 486-char remark
6. 2026-06-15
   listed $15,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $20,091
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$436
• Taxable income: $15,299
• Est. tax owed @ 24.0%: −$3,672
• After-tax cash flow: $10,956/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

-88.8% since first listed

4 events — show timeline

• 2026-06-14 Listed $15,000 FSBO.com
• 2017-05-31 Sold (Public Records) $1,700,000 Public Records
• 2000-11-03 Sold (Public Records) $550,000 Public Records
• 1976-03-11 Sold (Public Records) $133,500 Public Records

Property tax history

+6.3%/yr

Latest (2026): $47,904 · +18.7% YoY. Source: county tax records.