149 Towne Square Dr · Newport News, VA 23607

$169,900

2 bd · 2.5 ba · 1,300 sqft · Condo public records · 52 Days on market

Built 1970 $131/sqft · 11% below area Est $190k · 11% under $330/mo HOA · 21% of rent

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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 +12.3/15.0
• Cash flow +7.6/30.0
• Appreciation +4.6/10.0
• 1% rule +4.4/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0

Listing remarks

Timeless brick exterior meets elegant living in this lovely townhouse-style Condo nestled within a gated community. Two private marble-walled ensuites impress, one featuring a jacuzzi and the other a standing shower with custom wall jets for a true spa experience at home. Enjoy resort-style living with access to a community pool, all just minutes from the Newport News major military bases and shipyards. Great for service members, defense contractors, and savvy investors alike.

Key facts

• Brick exterior
• Community pool
• Standing shower

Tags

• BRICK EXTERIOR
• PRIVATE MARBLE-WALLED ENSUITES
• JACUZZI
• STANDING SHOWER
• CUSTOM WALL JETS
• COMMUNITY POOL

Property features AI

Finance

• HOA & community: Has HOA (Towne Square Condominiums Owner Association); HOA management: Chesapeake Bay Management; Condo/association fee $330 monthly

Exterior

• Parking: Assigned/Reserved parking
• Security: Gated community
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Attached townhouse; Two stories; Condo ownership; Two living levels; Condo level 1; Entry on slab foundation
• Construction: Slab foundation; Brick exterior; Composite roof
• Exterior features: Brick siding; Back privacy fence; Has fence; Composite roof; Gated community; Pool; Trash pickup; Neighborhood: TOWNE SQUARE

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms with ensuite
• Flooring: Ceramic flooring; Wood flooring
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Electric heating; Forced hot air
• Interior features: Jetted tub; Scuttle access; Attic; Breakfast area
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (5.8% below list).
• Recommended offer: $134k (21.3% below list) — sets the bar for cash-flow.

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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $1,600/mo this rent would consume 45% 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 $1k 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 52 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $92k; list at $170k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• 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 $133,739 (21.3% 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 52 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.16%
• DSCR: 0.77
• GRM: 8.9

CMA / ARV

• ARV (median comp): $190,138
• List price: $169,900
• Delta: -10.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.9%
• Equity multiple: 0.48×
• Total profit: $-24,543
• Equity at exit: $42,317

10-year hold

• IRR: -5.1%
• Equity multiple: 0.52×
• Total profit: $-22,806
• Equity at exit: $45,557

Cash invested: $47,572 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$891
• Tax from tax record: −$177 /mo · $2,121/yr
• Insurance: −$71
• HOA: −$330
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-205

Break-even live

Break-even rent $1,859

Max offer price $133,739

Occupancy floor —

Sensitivity live

Price	-10% $-109	-5% $-157	+0% $-205	+5% $-253	+10% $-301
Rent	-10% $-331	-5% $-268	+0% $-205	+5% $-142	+10% $-78
Rate	-1.0pp $-119	-0.5pp $-161	base $-205	+0.5pp $-249	+1.0pp $-294

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6901 Huntington Ave Newport News, VA	3.0	1.5	1600	$1,800	$1.12	45d	1	0.47mi
6010 Jefferson Ave Newport News, VA	2.0	1.0	900	$1,245	$1.38	45d	2	0.59mi
602 74th St Newport News, VA	2.0	1.0	950	$1,080	$1.14	25d	1	0.62mi
325 67th St Newport News, VA	3.0	2.0	1595	$2,095	$1.31	45d	1	0.62mi
25 Franklin Rd Newport News, VA	3.0	1.5	1521	$1,750	$1.15	9d	1	0.75mi
620 73rd St Newport News, VA	3.0	2.0	1203	$1,900	$1.58	4d	1	0.76mi
318 61st St Newport News, VA	2.0	1.0	950	$1,500	$1.58	45d	1	0.99mi
116 Tyler Ave Unit 1A Newport News, VA	2.0	1.0	950	$1,075	$1.13	45d	1	1.11mi
5014 Hazelwood Rd Newport News, VA	3.0	1.0	955	$1,900	$1.99	0d	1	1.13mi
207 Ferguson Ave Newport News, VA	3.0	1.0	1350	$1,495	$1.11	25d	1	1.17mi
606 Randolph Rd Newport News, VA	3.0	1.0	989	$1,475	$1.49	45d	1	1.19mi
5109 Goldsboro Dr Hampton, VA	1.0–2.0	1.0–1.5	950	$1,660	$1.75	0d	18	1.31mi
1112 74th St Newport News, VA	3.0	1.0	928	$1,500	$1.62	23d	1	1.35mi
531 Bulkeley Pl Newport News, VA	2.0–3.0	1.0–1.5	780	$1,416	$1.82	0d	20	1.36mi
315 Piez Ave Newport News, VA	2.0	1.0	1081	$1,395	$1.29	13d	1	1.41mi

HOA detail condo

• Monthly dues: $330 · $3,960/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $169,900 Active 52 DOM
2. 2026-06-18
   days on market $169,900 Active 49 DOM
3. 2026-06-17
   days on market $169,900 Active 48 DOM
4. 2026-06-16
   days on market $169,900 Active 47 DOM
5. 2026-06-15
   days on market $169,900 Active 46 DOM
6. 2026-06-09
   days on market $169,900 Active 40 DOM
7. 2026-06-08
   days on market $169,900 Active 39 DOM
8. 2026-06-07
   days on market $169,900 Active 38 DOM
9. 2026-06-03
   days on market $169,900 Active 34 DOM
10. 2026-06-02
    days on market $169,900 Active 33 DOM
11. 2026-06-01
    days on market $169,900 Active 32 DOM
12. 2026-05-31
    days on market $169,900 Active 31 DOM
13. 2026-05-01
    listed $169,900 Active 481-char remark
14. 2025-12-19
    historical
15. 2025-10-27
    historical Active Under Contract
16. 2025-09-15
    price $150,000
17. 2025-09-08
    price $160,000
18. 2025-07-30
    price $165,000
19. 2025-07-16
    price $169,000
20. 2025-07-10
    price $172,000
21. 2025-06-18
    listed $175,000 Active
22. 2018-08-31
    soldstatus $92,000
23. 2018-08-23
    status Under Contract
24. 2018-07-26
    listed $92,000 Active
25. 2011-01-28
    soldstatus $110,000
26. 2007-10-22
    soldstatus $151,000
27. 2000-12-28
    soldstatus $75,900
28. 1999-06-28
    soldstatus $2,381,858

ⓘ 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: $2,121 · $177/mo
• Projected year-2 tax: $2,121 · $177/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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,197
• − Mortgage interest: −$9,517
• − Property taxes: −$2,121
• − Insurance: −$850
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − HOA: −$3,960
• − Depreciation: −$4,943
• Taxable loss: −$5,264
• Est. tax savings @ 24.0%: +$1,263
• After-tax cash flow: $-1,193/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

-92.9% since first listed

16 events — show timeline

• 2026-05-01 Listed $169,900 REINMLS
• 2025-12-19 Listing Removed — REINMLS
• 2025-10-27 Contingent — REINMLS
• 2025-09-15 Price Changed $150,000 REINMLS
• 2025-09-08 Price Changed $160,000 REINMLS
• 2025-07-30 Price Changed $165,000 REINMLS
• 2025-07-16 Price Changed $169,000 REINMLS
• 2025-07-10 Price Changed $172,000 REINMLS
• 2025-06-18 Listed $175,000 REINMLS
• 2018-08-31 Sold (Public Records) $92,000 Public Records
• 2018-08-23 Pending — REINMLS
• 2018-07-26 Listed $92,000 REINMLS
• 2011-01-28 Sold (Public Records) $110,000 Public Records
• 2007-10-22 Sold (Public Records) $151,000 Public Records
• 2000-12-28 Sold (Public Records) $75,900 Public Records
• 1999-06-28 Sold (Public Records) $2,381,858 Public Records

Property tax history

+4.4%/yr

Latest (2026): $2,121 · +10.8% YoY. Source: county tax records.