635 Rivergate Ter · West Point, VA 23181

$374,990

3 bd · 2.0 ba · 1,693 sqft · SingleFamily public records · 15 Days on market

Built 2022 9,997 sqft lot Est $317k · 18% over

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Why this score? — see what drove the F 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 +7.3/30.0
• Schools +6.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

May move-in! Home under construction. Our Neuville floorplan is a Beautiful One-Story Home with 4 bedrooms, 2 baths and attached 2 car-garage with a total of 1,698 square feet of living space. The main level features a large great room adjacent to the kitchen. The kitchen has an oversized island for extra seating and a large pantry. The kitchen comes with all stainless-steel appliances and granite countertops. The primary suite offers a luxurious bathroom with large shower, double vanities, and a large walk-in closet. There are 3 additional bedrooms, a full bathroom, and a walk-in laundry room. Home includes Whirlpool washer & dryer in laundry room next to kitchen. Also included in this package is smart home technology.

Key facts

• Brand new back deck
• Large walk-in closet
• Durable lvp flooring

Tags

• DURABLE LVP FLOORING
• UPDATED LIGHT FIXTURES
• SPACIOUS PRIMARY SUITE
• LARGE WALK-IN CLOSET
• FULLY EQUIPPED KITCHEN
• BRAND NEW BACK DECK

Property features AI

Exterior

• Parking: Attached 2-car garage; Paved driveway
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story home; Resale property; Asphalt roof; R-2 zoning
• Construction: Built with drywall, frame construction and vinyl siding; Slab foundation
• Exterior features: Front porch; Deck; Shed; Exterior storage; Chain link fencing / fenced yard; Paved driveway

Interior

• Kitchen: Eat-in kitchen with granite counters; Pantry
• Bedrooms: Main-level primary bedroom
• Flooring: Partially carpeted; Vinyl flooring
• Bathrooms: 2 full bathrooms; Tub and shower in at least one full bath
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Ceiling fans; Eat-in kitchen; Granite countertops; Primary bedroom with private bath; Main-level primary bedroom; Pantry
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-501 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (23.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (42.5% below list).
• Recommended offer: $216k (42.5% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.4% in West Point — 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 76/100 on livability (#111 in VA, #3,458 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• West Point Public School District (town): math 63% / reading 80% proficiency, ranked #17 of 131 in VA (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 62 active listings in the ZIP; 129 units permitted in King William County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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

• Climate carrying-cost: moderate flood risk; major wind risk, 60% 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 $215,757 (42.5% 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. 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. 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?
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: 0.58% ✗
• Cap rate: 4.69%
• Cash-on-cash: -5.72%
• DSCR: 0.75
• GRM: 14.5

CMA / ARV

• ARV (on-the-fly): $316,591
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2510 Oak Ln	0.12mi	3/2.0	1,666 (-2%)	3mo	$310,000	$186	90
200 Fort St	0.59mi	3/2.5	1,728 (+2%)	2mo	$339,000	$196	65
1927 F St	0.59mi	3/2.0	1,899 (+12%)	2mo	$339,950	$179	51
419 18th St	0.72mi	3/1.5	1,560 (-8%)	1mo	$185,000	$119	50
3050 King William Ave	0.58mi	4/1.5 (+1)	1,574 (-7%)	6mo	$273,000	$173	49
115 Wagners Way	0.64mi	4/2.5 (+1)	1,903 (+12%)	8mo	$355,775	$187	35
114 Wagners Way	0.67mi	4/2.5 (+1)	1,903 (+12%)	8mo	$344,990	$181	34
105 Wagners Way	0.67mi	4/2.5 (+1)	1,903 (+12%)	10mo	$361,020	$190	33
103 Wagners Way	0.68mi	4/2.5 (+1)	1,903 (+12%)	10mo	$367,285	$193	33
306 Pointers Dr	0.71mi	4/2.5 (+1)	1,903 (+12%)	10mo	$363,330	$191	31
310 Pointers Dr	0.74mi	4/2.5 (+1)	1,903 (+12%)	9mo	$355,225	$187	31
313 Pointers Dr	0.75mi	4/2.5 (+1)	1,903 (+12%)	9mo	$369,990	$194	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -26.2%
• Equity multiple: 0.12×
• Total profit: $-92,868
• Equity at exit: $55,912

10-year hold

• IRR: -23.4%
• Equity multiple: -0.17×
• Total profit: $-122,774
• Equity at exit: $32,422

Cash invested: $104,997 (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 23181

• Home prices YoY: -29.9%
• Active inventory: 62
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,158 medium
• Mortgage (P&I): −$1,966
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $-501

Break-even live

Break-even rent $2,792

Max offer price $286,516

Occupancy floor —

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: $93,748
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $374,990 Active 15 DOM
2. 2026-06-17
   days on market $374,990 Active 14 DOM
3. 2026-06-16
   days on market $374,990 Active 13 DOM
4. 2026-06-15
   days on market $374,990 Active 12 DOM
5. 2026-06-15
   pricedays on market $374,990 Active 11 DOM
6. 2026-06-13
   days on market $384,990 Active 10 DOM
7. 2026-06-12
   days on market $384,990 Active 9 DOM
8. 2026-06-09
   days on market $384,990 Active 6 DOM
9. 2026-06-08
   days on market $384,990 Active 5 DOM
10. 2026-06-08
    days on market $384,990 Active 4 DOM
11. 2026-06-07
    days on market $384,990 Active 3 DOM
12. 2026-06-04
    remarks 687-char remark
13. 2026-06-04
    listed $384,990 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: $991 · $83/mo
• Projected year-2 tax: $3,075 · $256/mo
• Expected delta: +$2,084/yr (+$174/mo · 210.3%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,891
• − Mortgage interest: −$21,005
• − Property taxes: −$991
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,071
• − Management: −$2,071
• − Depreciation: −$10,909
• Taxable loss: −$13,032
• Est. tax savings @ 24.0%: +$3,128
• After-tax cash flow: $-2,882/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: West Point Public School District
• NCES district ID: 5103950
• Math proficiency: 63% ▼ -30.00%
• Reading proficiency: 80% ▼ -12.00%
• Median HH income: $59,177
• Composite: 61.42/100
• National rank: #761
• State rank: #17 of 131 in VA

Livability — West Point

• Score: 76/100
• State rank: #111
• US rank: #3458

Category grades

Amenities F Commute F Cost of living B+ Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Point, VA
• Population (ZIP): 5,386

Population outlook (King William County) Hauer SSP2

• Today (2025): 16,840 people
• By 2030: 16,990 · +0.9%
• By 2040: 16,965 · +0.7%
• By 2050: 16,483 · -2.1%
• By 2075: 15,292 · -9.2%
• By 2100: 12,764 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 8% Hispanic / Latino 5% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · King William

• 2024 margin: Solid R (+40.6) · D 29.3% · R 69.9%
• 2008→2024 swing: -21.2pp toward R · 2008: -19.3pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+37.8 2016: R+35.3 2012: R+23.9 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.32%
• Current HPI: 179.2453
• Rent YoY: —
• Metro: —
• 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

+23.2% since first listed

24 events — show timeline

• 2026-06-03 Listed $384,990 CVRMLS
• 2022-06-30 Sold (MLS) $359,990 WMLS
• 2022-06-30 Sold (MLS) $359,990 CVRMLS
• 2022-05-17 Pending — WMLS
• 2022-05-09 Pending — CVRMLS
• 2022-05-03 Price Changed $359,990 WMLS
• 2022-05-02 Price Changed $359,990 CVRMLS
• 2022-04-22 Price Changed $369,890 WMLS
• 2022-04-08 Price Changed $369,990 WMLS
• 2022-04-08 Price Changed $369,990 CVRMLS
• 2022-03-31 Price Changed $364,990 WMLS
• 2022-03-31 Price Changed $364,990 CVRMLS
• 2022-03-29 Price Changed $394,990 CVRMLS
• 2022-03-18 Listed $359,890 WMLS
• 2022-03-15 Price Changed $359,990 CVRMLS
• 2022-03-05 Listed $354,990 CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2007-12-31 Listing Removed — CVRMLS
• 2007-06-15 Listed $312,500 CVRMLS
• 2007-06-15 Listed $312,500 CVRMLS
• 2007-04-13 Listing Removed — CVRMLS
• 2007-04-13 Listing Removed — CVRMLS
• 2007-01-15 Listed $312,500 CVRMLS
• 2007-01-15 Listed $312,500 CVRMLS

Property tax history

+74.7%/yr

Latest (2025): $991 · +13.0% YoY. Source: county tax records.