2907 Leta Ct · Hampton, VA 23666

$165,000

2 bd · 2.0 ba · 967 sqft · Townhouse public records · 114 Days on market

Built 1986 $171/sqft · 11% above area Est $150k · 10% over $59/mo HOA · 4% 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).

• Cash flow +12.4/30.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• DSCR +3.7/10.0
• Rent growth +3.5/5.0
• ARV discount +3.1/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TWO STORY TOWNHOME W/ VAULTED CEILINGS AND 2 NEW SKYLIGHTS. NEW UPDATED PLUMBING. HOME IS BEING SOLD AS-IS, WHERE IS. PERFECT FOR INVESTOR OR 1ST TIME BUYER.

Key facts

• Vaulted ceilings
• New skylights
• Two story townhome

Tags

• TWO STORY TOWNHOME
• VAULTED CEILINGS
• NEW SKYLIGHTS
• UPDATED PLUMBING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $-29 ($-343/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (13.5% below list).
• Recommended offer: $143k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.5% in Hampton — 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 (#133 in VA, #4,302 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities D+, commute F.
• Hampton City Public School District (urban): math 60% / reading 70% proficiency, ranked #40 of 131 in VA (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.0%/yr); 231 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 68 units permitted in Hampton city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hampton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $135k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $142,757 (13.5% 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. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• GRM: 9.6

CMA / ARV

• ARV (median comp): $150,378
• List price: $165,000
• Delta: 9.72%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
628 Hollomon Dr	0.18mi	2/2.0	967 (0%)	1mo	$214,000	$221	91
624 Hollomon Dr	0.18mi	2/2.0	970 (+0%)	2mo	$195,000	$201	90
31 Lyford Ky Unit B	0.14mi	2/2.0	922 (-5%)	9mo	$159,900	$173	78
26 Lyford Ky Unit B	0.11mi	2/2.0	1,013 (+5%)	10mo	$140,000	$138	78
88 Emeraude Plage Unit B	0.20mi	2/2.0	825 (-15%)	0mo	$113,900	$138	66

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-27,000
• Equity at exit: $24,602

10-year hold

• IRR: -6.2%
• Equity multiple: 0.58×
• Total profit: $-19,337
• Equity at exit: $14,266

Cash invested: $46,200 (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 23666

• Home prices YoY: -15.7%
• Rents YoY: 4.0%
• Active inventory: 231
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,428 high
• Mortgage (P&I): −$865
• Tax from tax record: −$163 /mo · $1,960/yr
• Insurance: −$69
• HOA: −$59
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $-29

Break-even live

Break-even rent $1,464

Max offer price $159,956

Occupancy floor 97%

Sensitivity live

Price	-10% $65	-5% $18	+0% $-29	+5% $-75	+10% $-122
Rent	-10% $-141	-5% $-85	+0% $-29	+5% $28	+10% $84
Rate	-1.0pp $55	-0.5pp $13	base $-29	+0.5pp $-71	+1.0pp $-115

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1600 Pennwood Dr Hampton, VA	2.0	1.0	881	$1,350	$1.53	44d	6	0.17mi
1112 74th St Newport News, VA	3.0	1.0	928	$1,500	$1.62	22d	1	1.07mi
5014 Hazelwood Rd Newport News, VA	3.0	1.0	955	$1,900	$1.99	2d	1	1.14mi
1587 Briarfield Rd Hampton, VA	2.0–3.0	1.5–2.0	985	$1,240	$1.26	3d	9	1.23mi
6300 Grossman Pl Newport News, VA	1.0	1.0	703	$930	$1.32	44d	1	1.31mi
6206 Hilmar Pl Newport News, VA	2.0	1.0	975	$995	$1.02	44d	1	1.38mi
624 Sterling St Newport News, VA	2.0	1.0	821	$1,500	$1.83	18d	1	1.40mi
1115 Briarfield Rd Newport News, VA	1.0–2.0	1.0–2.0	1007	$1,351	$1.34	24d	1	1.41mi
18 Tall Pine Dr Hampton, VA	2.0	1.0	800	$1,365	$1.71	22d	5	1.42mi

HOA detail

• Monthly dues: $59 · $708/yr

Listing history 12 events

1. 2026-06-13
   statusdays on market $165,000 Under Contract 114 DOM
2. 2026-06-09
   days on market $165,000 Active Under Contract 112 DOM
3. 2026-06-08
   days on market $165,000 Active Under Contract 111 DOM
4. 2026-06-07
   days on market $165,000 Active Under Contract 110 DOM
5. 2026-06-03
   days on market $165,000 Active Under Contract 106 DOM
6. 2026-06-02
   days on market $165,000 Active Under Contract 105 DOM
7. 2026-06-01
   days on market $165,000 Active Under Contract 104 DOM
8. 2026-05-31
   days on market $165,000 Active Under Contract 103 DOM
9. 2026-05-05
   historical Active Under Contract 157-char remark

   Show marketing remark (157 chars)

   TWO STORY TOWNHOME W/ VAULTED CEILINGS AND 2 NEW SKYLIGHTS. NEW UPDATED PLUMBING. HOME IS BEING SOLD AS-IS, WHERE IS. PERFECT FOR INVESTOR OR 1ST TIME BUYER.

10. 2026-03-25
    price $165,000 157-char remark

    Show marketing remark (157 chars)

    TWO STORY TOWNHOME W/ VAULTED CEILINGS AND 2 NEW SKYLIGHTS. NEW UPDATED PLUMBING. HOME IS BEING SOLD AS-IS, WHERE IS. PERFECT FOR INVESTOR OR 1ST TIME BUYER.

11. 2026-02-17
    listed $175,000 Active 157-char remark

    Show marketing remark (157 chars)

    TWO STORY TOWNHOME W/ VAULTED CEILINGS AND 2 NEW SKYLIGHTS. NEW UPDATED PLUMBING. HOME IS BEING SOLD AS-IS, WHERE IS. PERFECT FOR INVESTOR OR 1ST TIME BUYER.

12. 2008-01-22
    soldstatus $134,900

ⓘ 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: $1,960 · $163/mo
• Projected year-2 tax: $1,960 · $163/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: $17,131
• − Mortgage interest: −$9,243
• − Property taxes: −$1,960
• − Insurance: −$825
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − HOA: −$708
• − Depreciation: −$4,800
• Taxable loss: −$3,145
• Est. tax savings @ 24.0%: +$755
• After-tax cash flow: $412/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: Hampton City Public School District
• NCES district ID: 5101800
• Math proficiency: 60% ▼ -21.00%
• Reading proficiency: 70% ▼ -4.00%
• Median HH income: $50,089
• Composite: 55.19/100
• National rank: #1272
• State rank: #40 of 131 in VA

Livability — Hampton

• Score: 75/100
• State rank: #133
• US rank: #4302

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hampton, VA
• County: Hampton City · 132,421 people
• City population: 132,421
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 54,233
• Household income: $72,568
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2951.0

Population outlook (Hampton County) Hauer SSP2

• Today (2025): 134,055 people
• By 2030: 131,753 · -1.7%
• By 2040: 125,017 · -6.7%
• By 2050: 116,825 · -12.9%
• By 2075: 97,033 · -27.6%
• By 2100: 76,188 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 51% White 29% Two or more races 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Italian 1% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Vietnamese 1% Arabic 1%

Political lean MEDSL · Hampton

• 2024 margin: Solid D (+39.9) · D 69.2% · R 29.4% · Other 1.4%
• 2008→2024 swing: +1.0pp no change · 2008: 38.9pp · 2024: 39.9pp
• All cycles: 2024: D+39.9 2020: D+42.2 2016: D+37.8 2012: D+45.4 2008: D+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.01%
• Current HPI: 262.821
• Rent YoY: ▲ 4.05%
• 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

+22.3% since first listed

4 events — show timeline

• 2026-05-05 Contingent — REINMLS
• 2026-03-25 Price Changed $165,000 REINMLS
• 2026-02-17 Listed $175,000 REINMLS
• 2008-01-22 Sold (Public Records) $134,900 Public Records

Property tax history

+8.2%/yr

Latest (2025): $1,960 · +6.2% YoY. Source: county tax records.