2015 Marshall Ave · Newport News, VA 23607

$179,900

3 bd · 1.5 ba · 1,387 sqft · SingleFamily public records · 17 Days on market

Built 1986 Est $262k · 31% under

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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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.2/10.0
• Appreciation +4.6/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

Great Investor Opportunity. Instant Equity. This 4BR home, and the home next door, also listed for sale (same owner, same floor plan, mirror opposite) have long term, reliable tenants in place, who prefer to remain. Roof replaced in 2022. Shared driveway services both homes. This home recently passed City of Newport News Occupancy Inspection. Great Bones, Needs Updating to Achieve 50k more at Top Market Value. Being Sold AS IS. Priced Accordingly.

Key facts

• Instant equity
• Roof replaced
• Investor opportunity

Tags

• INVESTOR OPPORTUNITY
• INSTANT EQUITY
• ROOF REPLACED
• PASSED OCCUPANCY INSPECTION

Property features AI

Finance

• HOA & community: No HOA fees indicated

Exterior

• Parking: Driveway parking space
• Utilities: City/County water; City/County sewer; Electric water heater; Natural gas available
• Home design: Detached colonial-style home; Two stories; Crawl foundation; Simple ownership
• Construction: Vinyl exterior siding; Asphalt shingle roof; Crawlspace foundation
• Exterior features: Corner lot; Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Kitchen on first floor
• Bedrooms: Multiple bedrooms on second floor; At least one bedroom on first floor
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central air conditioning; Forced hot air heating; Natural gas heating
• Interior features: Scuttle access
• Laundry & utility: Washer hookup; Dryer hookup; Utility room on first floor; Pantry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Heritage High (math 49% / reading 67%, grade C, #262 of 319 statewide, top 82%, 1,111 students, 85% FRL) — zoned schools average 85% FRL vs 55% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 58% at this address vs 44% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Newport News City Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.9%/yr); 128 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).
• At $1,842/mo this rent would consume 52% 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 $1k of loan paydown is wiped out by about $2k 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 (-0.8% appreciation + 2.9% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $6k; list at $180k implies a 3002% gain — meaningful room to come down on a strong offer.

Recommended offer $177,201 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 8.06%
• Cash-on-cash: 6.32%
• DSCR: 1.28
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $262,143
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
942 20th St	0.29mi	3/1.5	1,250 (-10%)	1mo	$180,000	$144	69
2128 Roanoke Ave	0.45mi	3/3.0	1,354 (-2%)	1mo	$285,000	$210	68
843 29th St	0.48mi	3/2.5	1,349 (-3%)	1mo	$255,000	$189	68
937 17th St	0.33mi	3/2.0	1,245 (-10%)	0mo	$252,500	$203	66
1633 Rolfe Pl	0.16mi	4/2.0 (+1)	1,589 (+15%)	1mo	$265,000	$167	60
3015 Wickham Ave	0.57mi	3/2.0	1,300 (-6%)	1mo	$252,000	$194	60
1230 23rd St	0.69mi	3/2.5	1,362 (-2%)	2mo	$265,000	$195	59
844 15th St	0.34mi	4/2.5 (+1)	1,514 (+9%)	2mo	$253,000	$167	58
960 15th St	0.46mi	3/1.5	1,195 (-14%)	0mo	$137,000	$115	55
1222 27th St	0.73mi	3/2.0	1,450 (+4%)	2mo	$175,000	$121	55
1034 26th St	0.47mi	4/2.0 (+1)	1,579 (+14%)	0mo	$139,000	$88	48
2106 Chestnut Ave	0.61mi	4/3.0 (+1)	1,244 (-10%)	2mo	$295,000	$237	42

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: 2.0%
• Equity multiple: 1.09×
• Total profit: $4,490
• Equity at exit: $44,807

10-year hold

• IRR: 8.3%
• Equity multiple: 1.81×
• Total profit: $40,983
• Equity at exit: $48,239

Cash invested: $50,372 (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: 128
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,842 high
• Mortgage (P&I): −$943
• Tax from tax record: −$172 /mo · $2,060/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $265

Break-even live

Break-even rent $1,506

Max offer price $179,900

Occupancy floor 81%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
740 21st St Newport News, VA	3.0	2.0	1120	$2,000	$1.79	44d	1	0.04mi
2102 Marshall Ave Newport News, VA	4.0	2.0	1780	$1,500	$0.84	44d	1	0.05mi
2104 Marshall Ave Newport News, VA	4.0	2.0	1568	$2,200	$1.40	16d	1	0.05mi
829 22nd St Newport News, VA	3.0	1.5	1020	$1,650	$1.62	44d	1	0.16mi
1020 23rd St Newport News, VA	4.0	3.0	1710	$2,195	$1.28	44d	1	0.37mi
1035 23rd St Newport News, VA	3.0	2.0	1378	$1,600	$1.16	44d	1	0.42mi
1110 21st St Newport News, VA	4.0	2.0	1613	$1,850	$1.15	44d	1	0.47mi
1034 26th St Newport News, VA	4.0	2.0	1579	$1,600	$1.01	44d	1	0.48mi
1152 Orcutt Ave Newport News, VA	3.0	1.0	947	$1,375	$1.45	4d	1	0.52mi
749 31st St Newport News, VA	3.0	2.0	1000	$1,900	$1.90	44d	1	0.57mi
3206 Madison Ave Newport News, VA	3.0	1.0	900	$1,550	$1.72	11d	1	0.64mi
1216 21st St Newport News, VA	3.0	3.5	1446	$1,700	$1.18	24d	1	0.65mi
2314 Chestnut Ave Newport News, VA	2.0	1.0	900	$12,900	$14.33	2d	1	0.65mi
709 33rd St Unit 1 Newport News, VA	2.0	1.0	878	$1,400	$1.59	17d	1	0.68mi
1239 24th St Newport News, VA	3.0	1.0	880	$1,495	$1.70	44d	1	0.74mi
1242 26th St Newport News, VA	3.0	4.0	1704	$2,400	$1.41	3d	1	0.77mi
1124 33rd St Newport News, VA	3.0	1.5	1386	$1,600	$1.15	24d	1	0.82mi
3100 Warwick Blvd Newport News, VA	2.0	1.5	1130	$1,008	$0.89	3d	2	0.82mi
1227 31st St Newport News, VA	3.0	2.0	1500	$2,495	$1.66	2d	1	0.88mi
1032 37th St Newport News, VA	3.0	2.0	1191	$1,450	$1.22	44d	1	0.91mi
1348 28th St Newport News, VA	2.0	1.0	997	$1,350	$1.35	4d	1	0.97mi
1348 28th St Unit NA Newport News, VA	2.0	1.0	997	$1,350	$1.35	24d	1	0.97mi
2601 West Ave Newport News, VA	1.0–2.0	1.0–2.0	919	$1,725	$1.88	2d	11	1.07mi
97 28th St Newport News, VA	2.0	2.0	930	$1,400	$1.51	44d	1	1.10mi
41 Ash Ave Unit B Newport News, VA	2.0	1.0	930	$1,500	$1.61	24d	1	1.12mi
4200 Newsome Dr Newport News, VA	2.0	1.0	895	$795	$0.89	24d	1	1.13mi
35 Cedar Ave Newport News, VA	3.0	1.5	1138	$1,595	$1.40	44d	1	1.17mi
80 30th St Newport News, VA	1.0–3.0	1.0–3.0	923	$2,599	$2.82	2d	4	1.18mi
40 Buxton Ave Unit C Newport News, VA	3.0	1.0	1750	$1,795	$1.03	44d	1	1.25mi
646 46th St Newport News, VA	3.0	2.0	1300	$1,800	$1.38	4d	1	1.30mi
646 46th St Unit Na Newport News, VA	3.0	2.0	1300	$1,800	$1.38	44d	1	1.30mi
635 46th St Newport News, VA	3.0	1.0	1097	$1,400	$1.28	44d	1	1.33mi
321 Pine Ave Newport News, VA	3.0	2.5	1349	$1,990	$1.48	24d	1	1.35mi
233 Pine Ave Newport News, VA	3.0	2.0	1213	$2,100	$1.73	24d	1	1.35mi
656 49th St Newport News, VA	3.0	1.0	946	$1,500	$1.59	24d	1	1.45mi

Listing history 11 events

1. 2026-06-18
   status $179,900 Under Contract 17 DOM
2. 2026-06-17
   days on market $179,900 Active 17 DOM
3. 2026-06-16
   days on market $179,900 Active 16 DOM
4. 2026-06-15
   days on market $179,900 Active 15 DOM
5. 2026-06-09
   days on market $179,900 Active 9 DOM
6. 2026-06-08
   days on market $179,900 Active 8 DOM
7. 2026-06-07
   days on market $179,900 Active 7 DOM
8. 2026-06-03
   days on market $179,900 Active 3 DOM
9. 2026-06-02
   days on market $179,900 Active 2 DOM
10. 2026-06-01
    remarks 451-char remark
11. 2026-06-01
    listed $179,900 Active 1 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: $2,060 · $172/mo
• Projected year-2 tax: $2,060 · $172/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,109
• − Mortgage interest: −$10,077
• − Property taxes: −$2,060
• − Insurance: −$900
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$5,233
• Taxable income: $302
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $3,113/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

+3001.7% since first listed

2 events — show timeline

• 2026-05-31 Listed $179,900 REINMLS
• 1980-06-01 Sold (Public Records) $5,800 Public Records

Property tax history

+4.9%/yr

Latest (2026): $2,060 · +18.4% YoY. Source: county tax records.