2410 Raleigh St · Hopewell, VA 23860

$185,000

3 bd · 1.0 ba · 1,102 sqft · SingleFamily public records · 14 Days on market

Built 1965 5,000 sqft lot $168/sqft · at area comps Est $181k · at est.

---

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 +14.9/30.0
• ARV discount +6.5/15.0
• Rent growth +4.7/5.0
• DSCR +4.6/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2410 Raleigh Street in Hopewell, Virginia! This beautifully refreshed home is move in ready and full of charm. Featuring fresh paint throughout, the interior feels bright, clean, and inviting from the moment you walk in. The upgraded kitchen offers modern touches that make cooking and entertaining a breeze, with updated finishes that add both style and functionality. Whether you're a first-time home buyer or looking to add to your investment portfolio, this property offers a great opportunity at an attractive value. Conveniently located near local amenities, dining, and major roadways, you'll enjoy both comfort and convenience. Don't miss your chance to make this updated home yours-schedule your showing today!

Key facts

• 5,000 sq ft lot
• Parking
• Built 1965

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $55 ($658/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 $154k (16.5% below list).
• Recommended offer: $154k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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+, housing 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.
• Zoned schools: Harry E. James Elementary (math 22% / reading 43%, grade F, #988 of 1,108 statewide, top 89%, 481 students, 98% FRL); Carter G. Woodson Middle (math 22% / reading 51%, grade F, #320 of 342 statewide, top 95%, 826 students, 102% FRL); Hopewell High (math 37% / reading 72%, grade C-, #281 of 319 statewide, top 90%, 1,136 students, 102% FRL) — zoned schools average 100% FRL vs 68% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.9%/yr); 234 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $80k; list at $185k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 42% 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 $154,496 (16.5% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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: 0.84% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 10.0

CMA / ARV

• ARV (median comp): $181,139
• List price: $185,000
• Delta: 2.13%
• 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
1701 Arlington Rd	0.08mi	3/2.0	1,104 (+0%)	2mo	$270,000	$245	90
1602 Tabb Ave	0.16mi	3/1.0	968 (-12%)	1mo	$220,000	$227	72
1125 Salem Ave	0.41mi	3/2.0	1,091 (-1%)	5mo	$215,000	$197	71
1105 Arlington Rd	0.42mi	3/2.0	1,080 (-2%)	4mo	$219,950	$204	70
1506 Stewart Ave	0.22mi	3/2.0	1,196 (+8%)	6mo	$234,000	$196	67
2005 Dublin St	0.40mi	3/2.0	1,040 (-6%)	5mo	$235,000	$226	64
1702 Tabb Ave	0.15mi	3/1.5	1,264 (+15%)	3mo	$225,000	$178	64
1201 Stewart Ave	0.37mi	3/1.0	972 (-12%)	2mo	$227,000	$234	62
3208 Granby St	0.71mi	2/1.5 (-1)	1,094 (-1%)	1mo	$220,000	$201	58
1802 Freeman St	0.54mi	3/1.5	1,008 (-8%)	4mo	$220,000	$218	55
3206 Elmwood Ave	0.70mi	3/1.5	1,170 (+6%)	1mo	$140,000	$120	54
1104 Terrace Ave	0.67mi	3/2.0	1,028 (-7%)	3mo	$177,500	$173	51

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: -9.3%
• Equity multiple: 0.65×
• Total profit: $-18,368
• Equity at exit: $27,584

10-year hold

• IRR: 5.5%
• Equity multiple: 1.49×
• Total profit: $25,475
• Equity at exit: $15,995

Cash invested: $51,800 (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 23860

• Home prices YoY: -22.0%
• Rents YoY: 8.9%
• Active inventory: 234
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,545 high
• Mortgage (P&I): −$970
• Tax from tax record: −$118 /mo · $1,422/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $55

Break-even live

Break-even rent $1,476

Max offer price $185,000

Occupancy floor 91%

Sensitivity live

Price	-10% $160	-5% $107	+0% $55	+5% $2	+10% $-50
Rent	-10% $-67	-5% $-6	+0% $55	+5% $116	+10% $177
Rate	-1.0pp $148	-0.5pp $102	base $55	+0.5pp $7	+1.0pp $-42

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Arlington Rd Hopewell, VA	3.0	2.0	1216	$1,695	$1.39	45d	1	0.27mi
1206 Tabb Ave Hopewell, VA	3.0	1.0	974	$1,470	$1.51	45d	1	0.33mi
2303 Maclin Cir Hopewell, VA	3.0	2.0	1150	$1,499	$1.30	5d	1	0.46mi
1004 Sunnyside Ave Hopewell, VA	4.0	2.0	875	$1,737	$1.99	6d	1	0.53mi
2305 Poplar St Unit B Hopewell, VA	2.0	1.5	959	$1,050	$1.09	25d	1	0.68mi
3309 Carlisle Ave Hopewell, VA	3.0	1.0	1152	$1,395	$1.21	23d	1	0.75mi
3314 Granby St Hopewell, VA	3.0	1.0	1469	$1,600	$1.09	25d	1	0.79mi
600 Winston Churchill Dr Hopewell, VA	2.0	1.0	900	$1,075	$1.19	3d	1	0.82mi
460 Highland Ave Hopewell, VA	3.0	1.0	1212	$1,700	$1.40	21d	1	0.88mi
522 S 22nd Ave Hopewell, VA	3.0	2.0	1368	$1,800	$1.32	25d	1	0.89mi
552 S 22nd Ave Hopewell, VA	3.0	2.0	1368	$1,800	$1.32	25d	1	0.91mi
507 Hill Ave Hopewell, VA	3.0	1.0	932	$1,395	$1.50	25d	1	0.93mi
800 Chestnut St Hopewell, VA	2.0	1.0	884	$1,395	$1.58	45d	1	0.93mi
3200 Saint Charles St Hopewell, VA	3.0	1.5	1272	$1,595	$1.25	45d	1	1.03mi
3500 Oaklawn Blvd Hopewell, VA	3.0	1.0	1000	$1,650	$1.65	19d	1	1.04mi
3502 Oaklawn Blvd Hopewell, VA	3.0	1.0	1124	$1,850	$1.65	23d	1	1.05mi
3568 Perrins Hill Way Prince George, VA	3.0	2.5	1500	$2,200	$1.47	3d	1	1.12mi
305 S 9th Ave Hopewell, VA	4.0	1.0	1056	$1,599	$1.51	5d	1	1.21mi
3807 Woodlawn St Unit 8 Hopewell, VA	2.0	1.0	900	$1,095	$1.22	6d	1	1.37mi
221 S Mesa Dr Hopewell, VA	3.0	1.0	1152	$1,300	$1.13	25d	1	1.43mi
1201 W City Point Rd Hopewell, VA	1.0–2.0	1.0–1.5	710	$1,250	$1.76	16d	3	1.47mi
1201 W City Point Rd Hopewell, VA	1.0–2.0	1.0–1.5	711	$1,250	$1.76	3d	7	1.48mi
2009 Day St Hopewell, VA	2.0	1.0	780	$895	$1.15	25d	1	1.48mi

Listing history 16 events

1. 2026-06-16
   status $185,000 Pending 14 DOM
2. 2026-06-15
   days on market $185,000 Active 14 DOM
3. 2026-06-13
   days on market $185,000 Active 12 DOM
4. 2026-06-09
   days on market $185,000 Active 8 DOM
5. 2026-06-08
   days on market $185,000 Active 7 DOM
6. 2026-06-07
   statusdays on market $185,000 Active 6 DOM
7. 2026-05-04
   status Pending 730-char remark

   Show marketing remark (730 chars)

   Welcome to 2410 Raleigh Street in Hopewell, Virginia! This beautifully refreshed home is move in ready and full of charm. Featuring fresh paint throughout, the interior feels bright, clean, and inviting from the moment you walk in. The upgraded kitchen offers modern touches that make cooking and entertaining a breeze, with updated finishes that add both style and functionality. Whether you're a first-time home buyer or looking to add to your investment portfolio, this property offers a great opportunity at an attractive value. Conveniently located near local amenities, dining, and major roadways, you'll enjoy both comfort and convenience. Don't miss your chance to make this updated home yours-schedule your showing today!

8. 2026-05-02
   listed $185,000 Active 730-char remark

   Show marketing remark (730 chars)

   Welcome to 2410 Raleigh Street in Hopewell, Virginia! This beautifully refreshed home is move in ready and full of charm. Featuring fresh paint throughout, the interior feels bright, clean, and inviting from the moment you walk in. The upgraded kitchen offers modern touches that make cooking and entertaining a breeze, with updated finishes that add both style and functionality. Whether you're a first-time home buyer or looking to add to your investment portfolio, this property offers a great opportunity at an attractive value. Conveniently located near local amenities, dining, and major roadways, you'll enjoy both comfort and convenience. Don't miss your chance to make this updated home yours-schedule your showing today!

9. 2026-03-23
   historical $185,000 730-char remark

   Show marketing remark (730 chars)

   Welcome to 2410 Raleigh Street in Hopewell, Virginia! This beautifully refreshed home is move in ready and full of charm. Featuring fresh paint throughout, the interior feels bright, clean, and inviting from the moment you walk in. The upgraded kitchen offers modern touches that make cooking and entertaining a breeze, with updated finishes that add both style and functionality. Whether you're a first-time home buyer or looking to add to your investment portfolio, this property offers a great opportunity at an attractive value. Conveniently located near local amenities, dining, and major roadways, you'll enjoy both comfort and convenience. Don't miss your chance to make this updated home yours-schedule your showing today!

10. 2020-04-27
    soldstatus $80,000
11. 2020-04-24
    soldstatus $80,000 Closed 512-char remark

    Show marketing remark (512 chars)

    Great home and investment property just 5 minutes from Fort Lee!! Very well maintained, this home has 3 bedrooms, 1 full bath, and 1,102 sq ft. All new plumbing, new central heat & air, custom kitchen cabinets, refinished hardwood floors throughout, new flooring in kitchen and bathroom!!! All appliances convey. Whether you are looking for a new home or looking for a great investment property to add to your portfolio, look no further this home as it all! Sold as-is. Won't last long - come see it today.

12. 2020-02-19
    status Pending 512-char remark

    Show marketing remark (512 chars)

    Great home and investment property just 5 minutes from Fort Lee!! Very well maintained, this home has 3 bedrooms, 1 full bath, and 1,102 sq ft. All new plumbing, new central heat & air, custom kitchen cabinets, refinished hardwood floors throughout, new flooring in kitchen and bathroom!!! All appliances convey. Whether you are looking for a new home or looking for a great investment property to add to your portfolio, look no further this home as it all! Sold as-is. Won't last long - come see it today.

13. 2020-02-17
    listed $75,000 Active 512-char remark

    Show marketing remark (512 chars)

    Great home and investment property just 5 minutes from Fort Lee!! Very well maintained, this home has 3 bedrooms, 1 full bath, and 1,102 sq ft. All new plumbing, new central heat & air, custom kitchen cabinets, refinished hardwood floors throughout, new flooring in kitchen and bathroom!!! All appliances convey. Whether you are looking for a new home or looking for a great investment property to add to your portfolio, look no further this home as it all! Sold as-is. Won't last long - come see it today.

14. 2016-09-21
    soldstatus $42,130 Closed
15. 2016-08-30
    status Pending
16. 2016-07-27
    listed $45,000 Active

ⓘ 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: $1,422 · $118/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$95/yr (+$8/mo · 6.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 17 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: $18,540
• − Mortgage interest: −$10,363
• − Property taxes: −$1,422
• − Insurance: −$925
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$5,382
• Taxable loss: −$2,518
• Est. tax savings @ 24.0%: +$604
• After-tax cash flow: $1,262/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

+311.1% since first listed

10 events — show timeline

• 2026-05-04 Pending — CVRMLS
• 2026-05-02 Listed $185,000 CVRMLS
• 2026-03-23 Coming Soon $185,000 CVRMLS
• 2020-04-27 Sold (Public Records) $80,000 Public Records
• 2020-04-24 Sold (MLS) $80,000 CVRMLS
• 2020-02-19 Pending — CVRMLS
• 2020-02-17 Listed $75,000 CVRMLS
• 2016-09-21 Sold (MLS) $42,130 CVRMLS
• 2016-08-30 Pending — CVRMLS
• 2016-07-27 Listed $45,000 CVRMLS

Property tax history

+6.2%/yr

Latest (2025): $1,422 · +27.0% YoY. Source: county tax records.