622 Chapel St · Hampton, VA 23669

$196,000

3 bd · 1.5 ba · 1,221 sqft · SingleFamily public records · 31 Days on market

Built 1947 6,499 sqft lot Est $254k · 23% under

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Why this score? — see what drove the C 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 +17.1/30.0
• ARV discount +15.0/15.0
• Schools +5.5/10.0
• DSCR +5.3/10.0
• 1% rule +4.5/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come home to this 3 bedroom Cape Cod home located in Hampton Virginia near Downtown Hampton. Two bedrooms are located on the first level with full bath and loft style bedroom with a half bath upstairs!

Key facts

• 6,499 sq ft lot
• Built 1947
• Listed 31 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $196k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (5.3% below list).
• Recommended offer: $186k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• Zoned schools: A.W.E. Bassette Elementary (math 32% / reading 47%, grade F, #900 of 1,108 statewide, top 83%, 494 students, 87% FRL); Phoebus High (math 57% / reading 76%, grade B, #195 of 319 statewide, top 62%, 1,365 students, 86% FRL) — zoned schools average 86% FRL vs 49% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 53% at this address vs 65% district-wide (-12 pts) — the specific schools serving this property underperform the Hampton City Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.4%/yr); 232 active listings in the ZIP; 25 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 $6k 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 31 days — a 3% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 8 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 $121k; list at $196k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $185,701 (5.3% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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. 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: 0.95% ✗
• Cap rate: 7.13%
• Cash-on-cash: 2.99%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $253,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 Chapel St	0.00mi	3/1.5	1,221 (0%)	1mo	$193,000	$158	99
703 Augusta St	0.29mi	3/1.5	1,200 (-2%)	6mo	$240,000	$200	79
19 Maplewood St	0.23mi	3/2.0	1,132 (-7%)	2mo	$240,000	$212	74
812 Ridgeway Ave	0.50mi	3/1.5	1,240 (+2%)	3mo	$250,000	$202	72
3912 Victoria Blvd	0.47mi	3/1.0	1,152 (-6%)	3mo	$219,000	$190	64
460 England Ave	0.33mi	3/2.5	1,107 (-9%)	1mo	$230,000	$208	64
44 Henry St	0.66mi	3/2.0	1,284 (+5%)	0mo	$299,900	$234	58
710 Rutherford St	0.71mi	3/2.0	1,256 (+3%)	5mo	$289,000	$230	56
814 Downing St	0.74mi	3/1.5	1,116 (-9%)	3mo	$210,000	$188	49
227 Lee St	0.58mi	3/1.5	1,386 (+14%)	5mo	$215,000	$155	46
509 Homestead Ave	0.55mi	3/2.5	1,400 (+15%)	6mo	$300,000	$214	41
355 Ivy Home Rd	0.57mi	4/2.5 (+1)	1,400 (+15%)	0mo	$299,800	$214	40

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 · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-18,374
• Equity at exit: $29,224

10-year hold

• IRR: 3.5%
• Equity multiple: 1.28×
• Total profit: $15,407
• Equity at exit: $16,946

Cash invested: $54,880 (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 23669

• Rents YoY: 5.4%
• Active inventory: 232
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,857 high
• Mortgage (P&I): −$1,028
• Tax from tax record: −$221 /mo · $2,650/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $137

Break-even live

Break-even rent $1,684

Max offer price $196,000

Occupancy floor 88%

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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
626 Chapel St Hampton, VA	4.0	2.0	1470	$1,900	$1.29	12d	1	0.02mi
607 Lee St Hampton, VA	3.0	1.5	1404	$2,150	$1.53	44d	1	0.11mi
901 W Queen St Hampton, VA	2.0–3.0	1.5–2.5	1096	$1,600	$1.46	44d	1	0.14mi
448 Chapel St Hampton, VA	3.0	2.0	1425	$1,850	$1.30	3d	1	0.27mi
603 La Salle Ave Hampton, VA	2.0	1.0	759	$1,000	$1.32	44d	1	0.32mi
640 Homestead Ave Hampton, VA	3.0	1.0	852	$1,750	$2.05	44d	1	0.40mi
708 Westwood Ave Hampton, VA	3.0	2.5	1300	$2,300	$1.77	14d	1	0.54mi
507 Highland Ave Hampton, VA	2.0	1.0	925	$1,500	$1.62	14d	1	0.58mi
702 Rutherford St Hampton, VA	3.0	2.0	1445	$1,795	$1.24	23d	1	0.68mi
3785 Kecoughtan Rd Hampton, VA	1.0–2.0	1.0	650	$1,425	$2.19	44d	5	0.99mi
3605 Kecoughtan Rd Hampton, VA	2.0	1.0	800	$1,200	$1.50	44d	1	1.08mi
708 Norwood Cir Hampton, VA	2.0	1.0	720	$1,050	$1.46	23d	1	1.09mi
3750 Kecoughtan Rd Hampton, VA	2.0	1.5	1300	$1,600	$1.23	44d	1	1.10mi
2 Abbott Dr Hampton, VA	1.0–3.0	1.0–3.5	1187	$2,891	$2.43	1d	18	1.12mi
1625 W Pembroke Ave Hampton, VA	2.0	1.5	950	$1,250	$1.32	23d	1	1.14mi
1625 W Pembroke Ave Unit 7 Hampton, VA	2.0	1.5	950	$1,250	$1.32	44d	1	1.15mi
234 Washington St Hampton, VA	2.0	1.0	1111	$2,000	$1.80	10d	1	1.15mi
600 Freeman Dr Hampton, VA	1.0–2.0	1.0–2.0	892	$2,008	$2.25	2d	8	1.16mi
100 Spanish Trl Hampton, VA	1.0–2.0	1.0–1.5	812	$1,450	$1.79	1d	12	1.23mi
1105 Easterly Ave Hampton, VA	3.0	1.5	1204	$1,800	$1.50	14d	1	1.23mi
8 Rip Rap Rd Hampton, VA	2.0	1.0	1000	$1,200	$1.20	21d	1	1.28mi
31 Saxony Pl Hampton, VA	3.0	2.5	1315	$1,645	$1.25	17d	1	1.35mi
17 S Gawain Way Hampton, VA	3.0	1.5	1460	$1,895	$1.30	3d	1	1.41mi
19 Bernard Ave Hampton, VA	2.0	1.0	906	$995	$1.10	21d	1	1.42mi
63 Algonquin Rd Hampton, VA	2.0	1.0	1100	$1,495	$1.36	44d	1	1.44mi

Listing history 24 events

1. 2026-04-01
   status Under Contract
2. 2026-03-19
   price $196,000
3. 2026-03-16
   status Active
4. 2026-02-28
   status Under Contract
5. 2026-02-11
   listed $206,000 Active
6. 2024-02-12
   status Under Contract
7. 2024-01-19
   historical Active Under Contract
8. 2024-01-12
   price $229,900
9. 2024-01-05
   price $235,000
10. 2024-01-03
    status Active
11. 2023-12-26
    historical Active Under Contract
12. 2023-12-15
    price $239,500
13. 2023-12-12
    listed $239,999 Active
14. 2023-11-09
    soldstatus $121,000
15. 2020-05-27
    historical
16. 2020-01-29
    listed $135,000 Active
17. 2018-09-17
    soldstatus $110,000
18. 2018-09-11
    soldstatus $110,000
19. 2018-08-13
    status Under Contract
20. 2018-06-28
    listed $108,000 Active
21. 2018-06-28
    listed $108,000
22. 2018-06-26
    historical
23. 2018-03-22
    listed $108,000 Active
24. 2008-03-17
    soldstatus $144,900

ⓘ 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: $2,650 · $221/mo
• Projected year-2 tax: $2,650 · $221/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 ≥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: $22,284
• − Mortgage interest: −$10,979
• − Property taxes: −$2,650
• − Insurance: −$980
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$5,702
• Taxable loss: −$1,593
• Est. tax savings @ 24.0%: +$382
• After-tax cash flow: $2,022/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): 39,884
• Household income: $71,222
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 2130.0

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 0.63)
• Race & ethnicity: Black 46% White 39% Two or more races 9% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 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: ▼ -150.40%
• Current HPI: 276.4636
• Rent YoY: ▲ 5.44%
• 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

+35.3% since first listed

24 events — show timeline

• 2026-04-01 Pending — REINMLS
• 2026-03-19 Price Changed $196,000 REINMLS
• 2026-03-16 Relisted — REINMLS
• 2026-02-28 Pending — REINMLS
• 2026-02-11 Listed $206,000 REINMLS
• 2024-02-12 Pending — REINMLS
• 2024-01-19 Contingent — REINMLS
• 2024-01-12 Price Changed $229,900 REINMLS
• 2024-01-05 Price Changed $235,000 REINMLS
• 2024-01-03 Relisted — REINMLS
• 2023-12-26 Contingent — REINMLS
• 2023-12-15 Price Changed $239,500 REINMLS
• 2023-12-12 Listed $239,999 REINMLS
• 2023-11-09 Sold (Public Records) $121,000 Public Records
• 2020-05-27 Listing Removed — REINMLS
• 2020-01-29 Listed $135,000 REINMLS
• 2018-09-17 Sold (Public Records) $110,000 Public Records
• 2018-09-11 Sold (MLS) $110,000 WMLS
• 2018-08-13 Pending — REINMLS
• 2018-06-28 Listed $108,000 WMLS
• 2018-06-28 Listed $108,000 REINMLS
• 2018-06-26 Listing Removed — REINMLS
• 2018-03-22 Listed $108,000 REINMLS
• 2008-03-17 Sold (Public Records) $144,900 Public Records

Property tax history

+11.5%/yr

Latest (2025): $2,650 · +8.2% YoY. Source: county tax records.