322 49th St · Newport News, VA 23607

$298,500

5 bd · 2.0 ba · 2,253 sqft · SingleFamily public records · 83 Days on market

Built 1920 2,500 sqft lot Est $295k · at est.

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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 +11.7/30.0
• ARV discount +7.0/15.0
• Appreciation +4.6/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• Rent growth +3.2/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0

Listing remarks

BEAUTIFUL AND SPACIOUS REMODELED 5 BEDROOM, 3 FULL BATH HOME! CHECK OUT THE WALK THROUGH VIDEO ON THE MLS LISTING! PROFESSIONALY CLEANED AND MOVE-IN READY! DOUBLE DRIVEWAY! 1ST FLOOR SPACIOUS HIGH CEILINGS, APPOX. 10 FEET HIGH! BRAND NEW KITCHEN! WHIRLPOOL STAINLESS STEEL APPLIANCES, GRANITE COUNTERTOPS! NEW ELECTRICAL WIRING THROUGHT THE HOME! FULL BATHROOM ON THE FIRST FLOOR! NEW WASHER AND DRYER! NEW WATER HEATER! WINDOWS AND ROOF 5 YEARS OLD! HVAC REPLACED IN 2023! UPDATED BATHROOMS! 2ND FLOOR DECK TO ENJOY! NICE, FENCED BACK YARD WITH TURF, NO GRASS TO CUT! THIS HOME WAS JUST APPRAISED FOR $340,900! MEASURED 2484 SQ. FT. OF LIVING AREA AND A 230 SQ. FT. BASEMENT! CONVE

Key facts

• Remodeled
• Double driveway
• Brand new kitchen

Tags

• REMODELED
• DOUBLE DRIVEWAY
• HIGH CEILINGS
• BRAND NEW KITCHEN
• GRANITE COUNTERTOPS
• NEW ELECTRICAL WIRING

Property features AI

Finance

• HOA & community: No HOA (fees listed as $0)

Exterior

• Parking: Multiple-car parking; Driveway spaces; Street parking
• Utilities: City/County water; City/County sewer; Natural gas
• Home design: Detached home; Tri-level design; Approximately 2.5 stories; Crawlspace foundation; Storm doors
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Deck; Back privacy fence

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator; Pantry
• Bedrooms: Master bedroom with ensuite; Additional bedrooms (upper level and main level per room layout)
• Flooring: Carpet; Laminate
• Bathrooms: Three full bathrooms; Multiple full bathrooms located on upper and main levels
• Heating & cooling: Forced hot air heating (natural gas); Central air conditioning; Gas water heater
• Interior features: Gas fireplace; Ceiling fans; Cable hookup; Scuttle (attic) access; Window treatments
• Laundry & utility: Washer and dryer; Utility room

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $298k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (20.0% below list).
• Recommended offer: $239k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Zoned schools: Carver Elementary (math 14% / reading 32%, grade F, #1,066 of 1,108 statewide, top 96%, 600 students, 90% FRL); Crittenden Middle (math 27% / reading 46%, grade F, #320 of 342 statewide, top 95%, 740 students, 90% FRL); Heritage High (math 49% / reading 67%, grade C, #262 of 319 statewide, top 82%, 1,111 students, 85% FRL) — zoned schools average 88% FRL vs 55% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.9%/yr); 130 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).
• At $2,388/mo this rent would consume 68% of the median local household income ($42k/yr) (locally 2008% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $132k; list at $298k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $238,819 (20.0% 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. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.27%
• DSCR: 0.94
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $295,143
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 49th St	0.00mi	5/3.0	2,484 (+10%)	1mo	$298,500	$120	78
347 56th St	0.37mi	5/2.0	2,296 (+2%)	12mo	$325,000	$142	69
335 54th St	0.27mi	4/2.0 (-1)	2,481 (+10%)	5mo	$197,000	$79	61
337 55th St	0.32mi	5/2.5	2,450 (+9%)	10mo	$320,000	$131	60
640 44th St	0.56mi	4/2.5 (-1)	2,400 (+6%)	3mo	$410,000	$171	53
312 62nd St	0.64mi	4/2.5 (-1)	2,195 (-3%)	12mo	$177,500	$81	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.84% appreciation · 2.91% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.69×
• Total profit: $-26,196
• Equity at exit: $74,347

10-year hold

• IRR: -0.6%
• Equity multiple: 0.95×
• Total profit: $-4,480
• Equity at exit: $80,041

Cash invested: $83,580 (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 23607

• Home prices YoY: -0.3%
• Rents YoY: 2.9%
• Active inventory: 130
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,388 medium
• Mortgage (P&I): −$1,565
• Tax from tax record: −$286 /mo · $3,426/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $-89

Break-even live

Break-even rent $2,500

Max offer price $282,852

Occupancy floor 99%

Sensitivity live

Price	-10% $80	-5% $-4	+0% $-89	+5% $-173	+10% $-258
Rent	-10% $-277	-5% $-183	+0% $-89	+5% $6	+10% $100
Rate	-1.0pp $62	-0.5pp $-13	base $-89	+0.5pp $-166	+1.0pp $-245

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: $74,625
• Closing costs: $8,955
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 44th St Newport News, VA	4.0	3.5	2100	$3,000	$1.43	45d	1	0.51mi

Listing history 13 events

1. 2026-05-07
   status Under Contract
2. 2026-04-20
   historical Active Under Contract
3. 2026-04-08
   price $298,500
4. 2026-03-17
   price $319,900
5. 2026-02-13
   listed $329,900 Active
6. 2014-09-05
   price $149,900 Active
7. 2014-07-31
   price $159,900 Active
8. 2014-06-13
   price $169,900 Active
9. 2014-04-16
   price $179,900 Active
10. 2014-03-24
    price $189,900
11. 2013-08-01
    price $70,400 Active
12. 2008-02-19
    soldstatus $132,000
13. 1996-11-22
    soldstatus $30,000

ⓘ 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: $3,426 · $286/mo
• Projected year-2 tax: $3,426 · $286/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 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: $28,658
• − Mortgage interest: −$16,721
• − Property taxes: −$3,426
• − Insurance: −$1,492
• − Repairs & maintenance: −$2,293
• − Management: −$2,293
• − Depreciation: −$8,684
• Taxable loss: −$6,250
• Est. tax savings @ 24.0%: +$1,500
• After-tax cash flow: $437/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): 23,096
• Household income: $42,334
• Rent vs Own: 69.5% rent · 30.5% own
• Severe rent burden: 2008.0

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: Predominantly Black (75%)
• Race & ethnicity: Black 75% White 13% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.84%
• Current HPI: 312.4039
• Rent YoY: ▲ 2.91%
• 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

+895.0% since first listed

13 events — show timeline

• 2026-05-07 Pending — REINMLS
• 2026-04-20 Contingent — REINMLS
• 2026-04-08 Price Changed $298,500 REINMLS
• 2026-03-17 Price Changed $319,900 REINMLS
• 2026-02-13 Listed $329,900 REINMLS
• 2014-09-05 Price Changed $149,900 REINMLS
• 2014-07-31 Price Changed $159,900 REINMLS
• 2014-06-13 Price Changed $169,900 REINMLS
• 2014-04-16 Price Changed $179,900 REINMLS
• 2014-03-24 Price Changed $189,900 REINMLS
• 2013-08-01 Price Changed $70,400 REINMLS
• 2008-02-19 Sold (Public Records) $132,000 Public Records
• 1996-11-22 Sold (Public Records) $30,000 Public Records

Property tax history

+5.8%/yr

Latest (2026): $3,426 · +9.2% YoY. Source: county tax records.