406 Lee St · Hampton, VA 23669

$227,500

3 bd · 2.0 ba · 1,480 sqft · SingleFamily public records · 8 Days on market

Built 1893 Est $305k · 25% 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 +15.0/15.0
• Cash flow +12.1/30.0
• Schools +5.5/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great home with vinyl plank flooring throughout the home with an updated kitchen and granite counter tops. There is an open first floor plan and a full bath, large laundry room and deck off the laundry room. Charming front porch and a large backyard great for entertaining.

Key facts

• Full bath
• Large laundry room
• Updated kitchen

Tags

• VINYL PLANK FLOORING
• UPDATED KITCHEN
• GRANITE COUNTER TOPS
• OPEN FIRST FLOOR PLAN
• FULL BATH
• LARGE LAUNDRY ROOM

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Street parking
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached farmhouse; 2 stories; City view
• Construction: Vinyl siding; Asphalt shingle roof; Crawl foundation
• Exterior features: Deck; Porch; Back yard with partial privacy fence

Interior

• Kitchen: Kitchen on 1st floor
• Bedrooms: Master bedroom on 2nd floor; Additional bedroom(s) on 2nd floor; 1 bedroom with ensuite
• Flooring: Ceramic flooring; Laminate flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced hot air heating (natural gas); Central air conditioning
• Interior features: Cable hookup; Scuttle access
• Laundry & utility: Utility room on 1st floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $228k.

Deal economics

• At list price, monthly cash flow is $-50 ($-596/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (15.1% below list).
• Recommended offer: $193k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: A.W.E. Bassette Elementary (math 32% / reading 47%, grade F, #900 of 1,108 statewide, top 83%, 494 students, 87% FRL); Phoebus High (math 57% / reading 76%, grade B, #195 of 319 statewide, top 62%, 1,365 students, 86% FRL) — zoned schools average 86% FRL vs 49% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 53% at this address vs 65% district-wide (-12 pts) — the specific schools serving this property underperform the Hampton City Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.4%/yr); 232 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 33% 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 $7k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.
• 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 $193,045 (15.1% 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. Built in 1893 — 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. 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: 0.85% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $304,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 Lee St	0.08mi	3/2.0	1,414 (-4%)	3mo	$265,000	$187	86
27 Maplewood St	0.37mi	3/2.0	1,427 (-4%)	2mo	$285,000	$200	75
227 Lee St	0.18mi	3/1.5	1,386 (-6%)	6mo	$215,000	$155	74
355 Ivy Home Rd	0.54mi	4/2.5 (+1)	1,400 (-5%)	0mo	$299,800	$214	59
163 Columbia Ave	0.38mi	3/2.0	1,699 (+15%)	2mo	$350,000	$206	56
703 S Fallon Ct	0.63mi	4/2.0 (+1)	1,440 (-3%)	6mo	$300,500	$209	56
32 W Sunset Rd	0.47mi	3/2.0	1,332 (-10%)	7mo	$175,000	$131	56
55 Victor St	0.57mi	3/2.5	1,589 (+7%)	4mo	$337,000	$212	55
44 Henry St	0.53mi	3/2.0	1,284 (-13%)	0mo	$299,900	$234	53
509 Homestead Ave	0.73mi	3/2.5	1,400 (-5%)	6mo	$300,000	$214	50
4204 Kecoughtan Rd	0.56mi	3/1.0	1,331 (-10%)	5mo	$226,000	$170	49
621 Fairland Ave	0.75mi	4/2.5 (+1)	1,678 (+13%)	3mo	$309,000	$184	34

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 · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.45×
• Total profit: $-35,143
• Equity at exit: $33,921

10-year hold

• IRR: -2.9%
• Equity multiple: 0.79×
• Total profit: $-13,608
• Equity at exit: $19,670

Cash invested: $63,700 (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 23669

• Rents YoY: 5.4%
• Active inventory: 232
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$1,193
• Tax from tax record: −$287 /mo · $3,443/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-50

Break-even live

Break-even rent $1,993

Max offer price $218,725

Occupancy floor 98%

Sensitivity live

Price	-10% $79	-5% $15	+0% $-50	+5% $-114	+10% $-178
Rent	-10% $-202	-5% $-126	+0% $-50	+5% $27	+10% $103
Rate	-1.0pp $65	-0.5pp $8	base $-50	+0.5pp $-109	+1.0pp $-169

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: $56,875
• Closing costs: $6,825
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
448 Chapel St Hampton, VA	3.0	2.0	1425	$1,850	$1.30	3d	1	0.13mi
607 Lee St Hampton, VA	3.0	1.5	1404	$2,150	$1.53	44d	1	0.31mi
626 Chapel St Hampton, VA	4.0	2.0	1470	$1,900	$1.29	13d	1	0.41mi
901 W Queen St Hampton, VA	2.0–3.0	1.5–2.5	1096	$1,600	$1.46	44d	1	0.46mi
534 Brightwood Ave Hampton, VA	3.0	3.0	1528	$2,095	$1.37	44d	1	0.60mi
27 Capps Qtrs #1 Hampton, VA	3.0	2.5	1734	$2,200	$1.27	44d	1	0.77mi
507 Highland Ave Hampton, VA	2.0	1.0	925	$1,500	$1.62	15d	1	0.79mi
310 Lasalle Ave Hampton, VA	3.0	2.0	1858	$2,200	$1.18	44d	1	0.79mi
234 Washington St Hampton, VA	2.0	1.0	1111	$2,000	$1.80	11d	1	0.82mi
708 Westwood Ave Hampton, VA	3.0	2.5	1300	$2,300	$1.77	15d	1	0.83mi
702 Rutherford St Hampton, VA	3.0	2.0	1445	$1,795	$1.24	24d	1	1.00mi
3750 Kecoughtan Rd Hampton, VA	2.0	1.5	1300	$1,600	$1.23	44d	1	1.04mi
100 Spanish Trl Hampton, VA	1.0–2.0	1.0–1.5	812	$1,450	$1.79	2d	12	1.04mi
1105 Easterly Ave Hampton, VA	3.0	1.5	1204	$1,800	$1.50	15d	1	1.18mi
8 Rip Rap Rd Hampton, VA	2.0	1.0	1000	$1,200	$1.20	21d	1	1.19mi
31 Saxony Pl Hampton, VA	3.0	2.5	1315	$1,645	$1.25	17d	1	1.23mi
19 Magnolia Pl Hampton, VA	3.0	1.5	1405	$2,100	$1.49	15d	1	1.27mi
17 S Gawain Way Hampton, VA	3.0	1.5	1460	$1,895	$1.30	3d	1	1.28mi
212 Dockside Dr Unit B Hampton, VA	2.0	2.0	1253	$1,795	$1.43	44d	1	1.32mi
305 Old Point Ave Hampton, VA	3.0	1.0	1186	$1,750	$1.48	44d	1	1.35mi
709 E Pembroke Ave Unit B Hampton, VA	2.0	1.5	1664	$1,349	$0.81	24d	1	1.36mi
19 Bernard Ave Hampton, VA	2.0	1.0	906	$995	$1.10	21d	1	1.37mi
2 Abbott Dr Hampton, VA	1.0–3.0	1.0–3.5	1187	$2,891	$2.43	2d	18	1.38mi
1625 W Pembroke Ave Hampton, VA	2.0	1.5	950	$1,250	$1.32	24d	1	1.47mi
316 Fountain Way Hampton, VA	3.0	2.5	1850	$2,600	$1.41	17d	1	1.47mi
1625 W Pembroke Ave Unit 7 Hampton, VA	2.0	1.5	950	$1,250	$1.32	44d	1	1.47mi
63 Algonquin Rd Hampton, VA	2.0	1.0	1100	$1,495	$1.36	44d	1	1.48mi

Listing history 5 events

1. 2026-06-13
   statusdays on market $227,500 Under Contract 8 DOM
2. 2026-06-09
   days on market $227,500 Active 5 DOM
3. 2026-06-08
   days on market $227,500 Active 4 DOM
4. 2026-06-07
   remarks 273-char remark
5. 2026-06-07
   listed $227,500 Active 3 DOM

ⓘ 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: $3,443 · $287/mo
• Projected year-2 tax: $3,443 · $287/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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,165
• − Mortgage interest: −$12,744
• − Property taxes: −$3,443
• − Insurance: −$1,138
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$6,618
• Taxable loss: −$4,483
• Est. tax savings @ 24.0%: +$1,076
• After-tax cash flow: $480/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): 39,884
• Household income: $71,222
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 2130.0

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 46% White 39% Two or more races 9% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 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: ▼ -150.40%
• Current HPI: 276.4636
• Rent YoY: ▲ 5.44%
• 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

+167.8% since first listed

33 events — show timeline

• 2026-06-03 Listed $227,500 REINMLS
• 2026-03-04 Listing Removed — REINMLS
• 2026-01-27 Listing Removed — REINMLS
• 2026-01-27 Listed $264,900 REINMLS
• 2025-12-31 Price Changed $269,800 REINMLS
• 2025-12-14 Price Changed $269,900 REINMLS
• 2025-11-27 Listed $279,900 REINMLS
• 2023-09-07 Sold (Public Records) $247,400 Public Records
• 2023-08-29 Pending — REINMLS
• 2023-08-01 Contingent — REINMLS
• 2023-07-21 Listed $244,900 REINMLS
• 2022-12-15 Listing Removed — REINMLS
• 2022-10-28 Price Changed $235,000 REINMLS
• 2022-09-23 Listed $245,000 REINMLS
• 2022-09-18 Listing Removed — REINMLS
• 2022-08-17 Price Changed $249,999 REINMLS
• 2022-07-26 Price Changed $250,000 REINMLS
• 2022-07-04 Price Changed $253,900 REINMLS
• 2022-06-11 Price Changed $254,900 REINMLS
• 2022-06-04 Price Changed $256,900 REINMLS
• 2022-05-28 Listed $259,900 REINMLS
• 2022-05-03 Listing Removed — REINMLS
• 2022-03-11 Sold (Public Records) $235,000 Public Records
• 2022-01-23 Contingent — REINMLS
• 2022-01-17 Relisted — REINMLS
• 2021-12-27 Contingent — REINMLS
• 2021-12-14 Price Changed $230,000 REINMLS
• 2021-12-14 Relisted — REINMLS
• 2021-11-10 Relisted — REINMLS
• 2021-11-10 Listing Removed — REINMLS
• 2021-11-08 Contingent — REINMLS
• 2021-11-03 Listed $225,000 REINMLS
• 2000-08-18 Sold (Public Records) $84,950 Public Records

Property tax history

+14.5%/yr

Latest (2025): $3,443 · +16.9% YoY. Source: county tax records.