306 N 4th Ave · Hopewell, VA 23860

$149,000

3 bd · 1.0 ba · 1,089 sqft · SingleFamily public records · 7 Days on market

Built 1916 5,793 sqft lot Est $181k · 18% under

---

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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.2/10.0
• 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 MLS

First time home buyer or investor looking to inrease his portfolio - this home in the heart of Hopewell just needs some TLC and a little paint and you have a cute home to come to at night. Home features 3 bdrms, 1 full bath, family room, dining area, and kitchen which has your refrigerator, washer/dryer, stove and opens into a rear enclosed porch. Rear yard is spacious for those outdoor picnics or just enjoying the sounds. Sidewalks to enjoy those evening walks or a brief trip down to the water from the Hopewell New walking dock. Home is waiting for you.

Key facts

• 5,793 sq ft lot
• Built 1916
• Listed 7 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Cap rate 8.6% 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+, 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); 234 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $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 $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 16y 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 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 41% 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 $149,000

Questions for the listing agent

1. Built in 1916 — 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: 1.02% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $180,774
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 N 4th Ave	0.00mi	3/1.0	1,089 (0%)	0mo	$152,200	$140	100
311 N 5th Ave	0.03mi	3/1.5	1,158 (+6%)	2mo	$220,000	$190	84
411 N 7th Ave	0.15mi	3/2.0	1,116 (+2%)	4mo	$255,000	$228	81
407 N 8th Ave	0.19mi	3/2.0	1,140 (+5%)	5mo	$215,000	$189	76
301 Memorial Ave	0.21mi	3/2.0	1,151 (+6%)	2mo	$135,000	$117	75
208 S 12th Ave	0.50mi	3/1.0	1,093 (+0%)	6mo	$170,000	$156	71
126 S 11th Ave	0.41mi	3/1.0	1,029 (-6%)	3mo	$159,000	$155	69
213 N 14th Ave	0.46mi	2/1.0 (-1)	1,012 (-7%)	1mo	$139,900	$138	61
119 N 16th Ave	0.58mi	3/1.5	1,176 (+8%)	4mo	$195,000	$166	54
335 Byrd St	0.67mi	3/1.0	1,209 (+11%)	0mo	$150,000	$124	50
405 E Cawson St	0.50mi	3/2.0	1,226 (+13%)	6mo	$258,000	$210	47
223 N 15th Ave	0.51mi	3/2.0	1,227 (+13%)	6mo	$235,000	$192	46

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $2,084
• Equity at exit: $22,216

10-year hold

• IRR: 15.0%
• Equity multiple: 2.48×
• Total profit: $61,757
• Equity at exit: $12,883

Cash invested: $41,720 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,525 high
• Mortgage (P&I): −$781
• Tax from tax record: −$75 /mo · $899/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $286

Break-even live

Break-even rent $1,163

Max offer price $149,000

Occupancy floor 76%

Sensitivity live

Price	-10% $370	-5% $328	+0% $286	+5% $244	+10% $202
Rent	-10% $166	-5% $226	+0% $286	+5% $346	+10% $406
Rate	-1.0pp $361	-0.5pp $324	base $286	+0.5pp $247	+1.0pp $208

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 N 4th Ave Hopewell, VA	3.0	1.0	1132	$1,495	$1.32	45d	1	0.09mi
508 N 7th Ave Hopewell, VA	4.0	1.0	1183	$1,599	$1.35	3d	1	0.25mi
101 S Main St Unit 1 Hopewell, VA	2.0	2.0	800	$1,395	$1.74	5d	1	0.27mi
311 E Cawson St Hopewell, VA	2.0–3.0	1.0	978	$2,154	$2.20	3d	9	0.39mi
1208 W Broadway Hopewell, VA	3.0	1.0	1200	$1,495	$1.25	17d	1	0.41mi
1201 W City Point Rd Hopewell, VA	1.0–2.0	1.0–1.5	710	$1,250	$1.76	15d	3	0.42mi
1201 W City Point Rd Hopewell, VA	1.0–2.0	1.0–1.5	711	$1,250	$1.76	3d	7	0.43mi
305 S 9th Ave Hopewell, VA	4.0	1.0	1056	$1,599	$1.51	4d	1	0.49mi
525 E Cawson St Hopewell, VA	4.0	2.0	1411	$1,791	$1.27	11d	1	0.63mi
2009 Day St Hopewell, VA	2.0	1.0	780	$895	$1.15	25d	1	0.70mi
800 Chestnut St Hopewell, VA	2.0	1.0	884	$1,395	$1.58	45d	1	0.74mi
310 Woodbine St Hopewell, VA	1.0–3.0	1.0–1.5	800	$1,534	$1.92	3d	3	0.78mi
460 Highland Ave Hopewell, VA	3.0	1.0	1212	$1,700	$1.40	21d	1	0.79mi
600 Winston Churchill Dr Hopewell, VA	2.0	1.0	900	$1,075	$1.19	3d	1	0.88mi
522 S 22nd Ave Hopewell, VA	3.0	2.0	1368	$1,800	$1.32	25d	1	1.14mi
1003 Bank St Hopewell, VA	2.0	1.0	1152	$1,100	$0.95	3d	1	1.14mi
2305 Poplar St Unit B Hopewell, VA	2.0	1.5	959	$1,050	$1.09	25d	1	1.15mi
552 S 22nd Ave Hopewell, VA	3.0	2.0	1368	$1,800	$1.32	25d	1	1.15mi
2303 Maclin Cir Hopewell, VA	3.0	2.0	1150	$1,499	$1.30	4d	1	1.21mi
507 Hill Ave Hopewell, VA	3.0	1.0	932	$1,395	$1.50	25d	1	1.26mi
221 S Mesa Dr Hopewell, VA	3.0	1.0	1152	$1,300	$1.13	25d	1	1.38mi

Listing history 20 events

1. 2026-04-28
   status Pending
2. 2026-04-22
   listed $149,000 Active
3. 2026-04-17
   historical $149,000
4. 2022-08-05
   soldstatus $135,000 Closed 560-char remark

   Show marketing remark (560 chars)

   First time home buyer or investor looking to inrease his portfolio - this home in the heart of Hopewell just needs some TLC and a little paint and you have a cute home to come to at night. Home features 3 bdrms, 1 full bath, family room, dining area, and kitchen which has your refrigerator, washer/dryer, stove and opens into a rear enclosed porch. Rear yard is spacious for those outdoor picnics or just enjoying the sounds. Sidewalks to enjoy those evening walks or a brief trip down to the water from the Hopewell New walking dock. Home is waiting for you.

5. 2022-08-05
   soldstatus $135,000

   Show marketing remark (560 chars)

   First time home buyer or investor looking to inrease his portfolio - this home in the heart of Hopewell just needs some TLC and a little paint and you have a cute home to come to at night. Home features 3 bdrms, 1 full bath, family room, dining area, and kitchen which has your refrigerator, washer/dryer, stove and opens into a rear enclosed porch. Rear yard is spacious for those outdoor picnics or just enjoying the sounds. Sidewalks to enjoy those evening walks or a brief trip down to the water from the Hopewell New walking dock. Home is waiting for you.

6. 2022-06-20
   status Pending 560-char remark

   Show marketing remark (560 chars)

   First time home buyer or investor looking to inrease his portfolio - this home in the heart of Hopewell just needs some TLC and a little paint and you have a cute home to come to at night. Home features 3 bdrms, 1 full bath, family room, dining area, and kitchen which has your refrigerator, washer/dryer, stove and opens into a rear enclosed porch. Rear yard is spacious for those outdoor picnics or just enjoying the sounds. Sidewalks to enjoy those evening walks or a brief trip down to the water from the Hopewell New walking dock. Home is waiting for you.

7. 2022-06-14
   listed $105,000 Active 560-char remark

   Show marketing remark (560 chars)

   First time home buyer or investor looking to inrease his portfolio - this home in the heart of Hopewell just needs some TLC and a little paint and you have a cute home to come to at night. Home features 3 bdrms, 1 full bath, family room, dining area, and kitchen which has your refrigerator, washer/dryer, stove and opens into a rear enclosed porch. Rear yard is spacious for those outdoor picnics or just enjoying the sounds. Sidewalks to enjoy those evening walks or a brief trip down to the water from the Hopewell New walking dock. Home is waiting for you.

8. 2013-03-28
   soldstatus $75,000
9. 2011-02-07
   soldstatus $44,000 42-char remark

   Show marketing remark (42 chars)

   Rancher in the city looking for new owners

10. 2011-01-05
    historical 42-char remark

    Show marketing remark (42 chars)

    Rancher in the city looking for new owners

11. 2010-12-21
    listed $44,900 42-char remark

    Show marketing remark (42 chars)

    Rancher in the city looking for new owners

12. 2010-11-17
    historical
13. 2010-11-03
    soldstatus $28,255
14. 2010-10-12
    listed $44,900
15. 2010-09-01
    historical
16. 2010-08-09
    soldstatus $98,929
17. 2010-07-19
    listed $49,900
18. 2010-06-18
    historical
19. 2010-01-23
    listed $49,950
20. 1990-03-01
    soldstatus $44,000

ⓘ 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: $899 · $75/mo
• Projected year-2 tax: $1,222 · $102/mo
• Expected delta: +$323/yr (+$27/mo · 35.9%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 41% 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: $18,295
• − Mortgage interest: −$8,346
• − Property taxes: −$899
• − Insurance: −$745
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$4,335
• Taxable income: $1,043
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $3,182/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

+238.6% since first listed

20 events — show timeline

• 2026-04-28 Pending — CVRMLS
• 2026-04-22 Listed $149,000 CVRMLS
• 2026-04-17 Coming Soon $149,000 CVRMLS
• 2022-08-05 Sold (Public Records) $135,000 Public Records
• 2022-08-05 Sold (MLS) $135,000 CVRMLS
• 2022-06-20 Pending — CVRMLS
• 2022-06-14 Listed $105,000 CVRMLS
• 2013-03-28 Sold (Public Records) $75,000 Public Records
• 2011-02-07 Sold (MLS) $44,000 CVRMLS
• 2011-01-05 Listing Removed — CVRMLS
• 2010-12-21 Listed $44,900 CVRMLS
• 2010-11-17 Listing Removed — CVRMLS
• 2010-11-03 Sold (Public Records) $28,255 Public Records
• 2010-10-12 Listed $44,900 CVRMLS
• 2010-09-01 Listing Removed — CVRMLS
• 2010-08-09 Sold (Public Records) $98,929 Public Records
• 2010-07-19 Listed $49,900 CVRMLS
• 2010-06-18 Listing Removed — CVRMLS
• 2010-01-23 Listed $49,950 CVRMLS
• 1990-03-01 Sold (Public Records) $44,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $899 · +12.4% YoY. Source: county tax records.