1019 22nd St · Newport News, VA 23607

$108,000

2 bd · 1.0 ba · 1,038 sqft · SingleFamily public records · 60 Days on market

Built 1925 4,356 sqft lot $104/sqft · 31% below area Est $158k · 31% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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 MLS

This 2-bedroom 1 bath fixer-upper has lots of potential for an investor or homeowner. The upstairs is prime for an additional bedroom with a little remodeling. It will make a great rental property or good fit for the first-time home owner willing to put in the work. Convenient Newport News location with easy access to the shipyard, Monitor Merrimac Bridge Tunnel and local amenities. Case#541-920443 IE (Insured Escrow) Subject to Appraisal. Property is Owned by the US Dept. of HUD. Seller makes no representations or warranties as to the property condition. HUD Homes are Sold "AS IS". Equal Housing Opportunity. Seller may contribute up to 3% for buyers closing costs upon buyer request.

Key facts

• Additional bedroom
• Local amenities
• 4,356 sq ft lot

Tags

• ADDITIONAL BEDROOM
• NEWPORT NEWS LOCATION
• EASY ACCESS TO SHIPYARD
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $105k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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.
• Market conditions: Rents rising (+2.9%/yr); 128 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).
• This rent runs 40% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $747 of loan paydown is wiped out by about $907 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 $30k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $11k; list at $108k implies a 860% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $104,760 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.21%
• DSCR: 1.72
• GRM: 6.3

CMA / ARV

• ARV (median comp): $157,502
• List price: $108,000
• Delta: -31.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 26th St	0.22mi	2/2.0	1,092 (+5%)	3mo	$225,000	$206	75
988 15th St	0.45mi	2/1.0	1,061 (+2%)	1mo	$126,050	$119	74
1141 27th St	0.32mi	3/1.0 (+1)	1,000 (-4%)	2mo	$85,000	$85	72
848 31st St	0.46mi	3/1.0 (+1)	1,045 (+1%)	1mo	$175,000	$167	72
1239 24th St	0.38mi	3/1.0 (+1)	1,000 (-4%)	2mo	$163,000	$163	69
1234 22nd St	0.36mi	3/1.0 (+1)	1,100 (+6%)	1mo	$259,000	$235	68
1016 32nd St	0.47mi	3/1.0 (+1)	1,018 (-2%)	4mo	$199,900	$196	67
1042 25th St	0.14mi	3/1.0 (+1)	892 (-14%)	1mo	$95,000	$107	65
1134 30th St	0.42mi	2/1.0	1,166 (+12%)	4mo	$65,000	$56	57
731 31st St	0.60mi	3/1.0 (+1)	969 (-7%)	3mo	$200,000	$206	54
732 20th St	0.43mi	3/1.0 (+1)	1,160 (+12%)	4mo	$70,000	$60	52
911 36th St	0.70mi	3/2.0 (+1)	925 (-11%)	1mo	$175,000	$189	40

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: 13.4%
• Equity multiple: 1.61×
• Total profit: $18,539
• Equity at exit: $26,899

10-year hold

• IRR: 19.1%
• Equity multiple: 2.94×
• Total profit: $58,736
• Equity at exit: $28,959

Cash invested: $30,240 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,425 high
• Mortgage (P&I): −$566
• Tax from tax record: −$106 /mo · $1,267/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $408

Break-even live

Break-even rent $908

Max offer price $108,000

Occupancy floor 66%

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1035 23rd St Newport News, VA	3.0	2.0	1378	$1,600	$1.16	43d	1	0.06mi
829 22nd St Newport News, VA	3.0	1.5	1020	$1,650	$1.62	43d	1	0.22mi
2314 Chestnut Ave Newport News, VA	1.0	1.0	800	$1,090	$1.36	43d	1	0.30mi
2314 Chestnut Ave Newport News, VA	2.0	1.0	900	$12,900	$14.33	1d	1	0.30mi
2314 Chestnut Ave Newport News, VA	1.0	1.0	900	$990	$1.10	23d	1	0.30mi
1216 21st St Newport News, VA	3.0	3.5	1446	$1,700	$1.18	23d	1	0.36mi
1240 24th St Newport News, VA	2.0	1.0	752	$995	$1.32	23d	1	0.39mi
1239 24th St Newport News, VA	3.0	1.0	880	$1,495	$1.70	43d	1	0.39mi
740 21st St Newport News, VA	3.0	2.0	1120	$2,000	$1.79	43d	1	0.39mi
932 16th St Newport News, VA	2.0	1.0	754	$1,500	$1.99	43d	1	0.40mi
1152 Orcutt Ave Newport News, VA	3.0	1.0	947	$1,375	$1.45	4d	1	0.50mi
1124 33rd St Newport News, VA	3.0	1.5	1386	$1,600	$1.15	23d	1	0.53mi
749 31st St Newport News, VA	3.0	2.0	1000	$1,900	$1.90	43d	1	0.54mi
1227 31st St Newport News, VA	3.0	2.0	1500	$2,495	$1.66	1d	1	0.55mi
1348 28th St Newport News, VA	2.0	1.0	997	$1,350	$1.35	4d	1	0.61mi
1348 28th St Unit NA Newport News, VA	2.0	1.0	997	$1,350	$1.35	23d	1	0.61mi
1010 36th St Newport News, VA	2.0	1.0	775	$1,095	$1.41	23d	1	0.64mi
3206 Madison Ave Newport News, VA	3.0	1.0	900	$1,550	$1.72	10d	1	0.66mi
709 33rd St Unit 1 Newport News, VA	2.0	1.0	878	$1,400	$1.59	17d	1	0.68mi
1032 37th St Newport News, VA	3.0	2.0	1191	$1,450	$1.22	43d	1	0.69mi
935 37th St Unit 16 Newport News, VA	2.0	1.0	700	$995	$1.42	43d	1	0.73mi
935 37th St Unit 4 Newport News, VA	2.0	1.0	700	$900	$1.29	23d	1	0.73mi
935 37th St Unit 15 Newport News, VA	2.0	1.0	700	$995	$1.42	7d	1	0.73mi
41 Ash Ave Unit B Newport News, VA	2.0	1.0	930	$1,500	$1.61	23d	1	0.83mi
35 Cedar Ave Newport News, VA	3.0	1.5	1138	$1,595	$1.40	43d	1	0.88mi
913 41st St Newport News, VA	2.0	1.5	740	$1,045	$1.41	23d	1	0.92mi
915 41st St Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	0.92mi
4104 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	0.93mi
4104 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	43d	1	0.93mi
4101 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	0.93mi
4107 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	43d	1	0.93mi
4111 Orcutt Ave Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	0.94mi
841 41st St Newport News, VA	2.0	1.0	740	$795	$1.07	10d	1	0.95mi
4119 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	0.95mi
4135 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	0.96mi
4200 Newsome Dr Newport News, VA	2.0	1.0	895	$795	$0.89	23d	1	0.97mi
4137 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	0.97mi
4218 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	0.97mi
4163 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	0.97mi
4224 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	0.98mi

Listing history 8 events

1. 2026-06-08
   status $108,000 Under Contract 60 DOM
2. 2026-06-07
   days on market $108,000 Active Under Contract 60 DOM
3. 2026-06-03
   days on market $108,000 Active Under Contract 56 DOM
4. 2026-06-02
   days on market $108,000 Active Under Contract 55 DOM
5. 2026-06-01
   days on market $108,000 Active Under Contract 54 DOM
6. 2026-05-31
   days on market $108,000 Active Under Contract 53 DOM
7. 2026-04-07
   listed $108,000 Active 702-char remark

   Show marketing remark (702 chars)

   This 2-bedroom 1 bath fixer-upper has lots of potential for an investor or homeowner. The upstairs is prime for an additional bedroom with a little remodeling. It will make a great rental property or good fit for the first-time home owner willing to put in the work. Convenient Newport News location with easy access to the shipyard, Monitor Merrimac Bridge Tunnel and local amenities. Case#541-920443 IE (Insured Escrow) Subject to Appraisal. Property is Owned by the US Dept. of HUD. Seller makes no representations or warranties as to the property condition. HUD Homes are Sold "AS IS". Equal Housing Opportunity. Seller may contribute up to 3% for buyers closing costs upon buyer request.

8. 1964-03-13
   soldstatus $11,250

ⓘ 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: $1,267 · $106/mo
• Projected year-2 tax: $1,267 · $106/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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: $17,095
• − Mortgage interest: −$6,050
• − Property taxes: −$1,267
• − Insurance: −$540
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$3,142
• Taxable income: $3,361
• Est. tax owed @ 24.0%: −$807
• After-tax cash flow: $4,095/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

+860.0% since first listed

2 events — show timeline

• 2026-04-07 Listed $108,000 REINMLS
• 1964-03-13 Sold (Public Records) $11,250 Public Records

Property tax history

+4.8%/yr

Latest (2026): $1,267 · +20.4% YoY. Source: county tax records.