406 Teepee Dr · Newport News, VA 23602

$245,000

4 bd · 1.5 ba · 1,673 sqft · SingleFamily public records · 24 Days on market

Built 1970 10,454 sqft lot $146/sqft · 17% below area Est $295k · 17% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• Rent growth +5.0/5.0
• DSCR +3.9/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investors or buyers looking to add value. Located on a cul-de-sac, this one-owner home offers solid bones and untapped potential. Features include a first-floor bedroom, hardwood floors under carpet, and an updated kitchen with custom cabinetry. The detached garage with additional rooms on the back and above opens the door for creative use.

Key facts

• Custom cabinetry
• First-floor bedroom
• Updated kitchen

Tags

• CUL-DE-SAC
• FIRST-FLOOR BEDROOM
• HARDWOOD FLOORS
• UPDATED KITCHEN
• CUSTOM CABINETRY
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-9 ($-105/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (12.9% below list).
• Recommended offer: $213k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 fast (+13.2%/yr); 185 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).
• This rent runs 32% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 24 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $245k implies a 1045% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,314 (12.9% 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. Built in 1970 — 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: 0.87% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $295,155
• List price: $245,000
• Delta: -16.99%
• 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
406 Teepee Dr	0.00mi	4/1.5	1,673 (0%)	1mo	$250,000	$149	99
412 Teepee Dr	0.04mi	3/2.0 (-1)	1,673 (0%)	3mo	$319,000	$191	88
128 John Rolfe Dr	0.05mi	5/1.5 (+1)	1,640 (-2%)	5mo	$315,000	$192	85
112 Tillerson Dr	0.10mi	4/1.5	1,506 (-10%)	0mo	$314,900	$209	78
37 Crutchfield Dr	0.32mi	4/2.5	1,741 (+4%)	4mo	$324,900	$187	71
14209 Deloice Cres	0.40mi	3/2.0 (-1)	1,640 (-2%)	1mo	$295,000	$180	70
4011 Campbell Rd	0.52mi	4/2.0	1,743 (+4%)	0mo	$358,000	$205	66
14309 Penrith Ln	0.28mi	3/2.5 (-1)	1,530 (-8%)	2mo	$297,000	$194	62
387 Pear Ridge Cir	0.63mi	5/3.0 (+1)	1,665 (-0%)	1mo	$285,000	$171	58
118 Tazewell Rd	0.64mi	3/2.5 (-1)	1,645 (-2%)	9mo	$325,000	$198	51
814 Tulip Dr	0.71mi	4/2.0	1,516 (-9%)	5mo	$335,000	$221	45
366 Pear Ridge Cir	0.74mi	3/2.5 (-1)	1,517 (-9%)	8mo	$284,900	$188	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.58×
• Total profit: $-28,953
• Equity at exit: $36,530

10-year hold

• IRR: 4.2%
• Equity multiple: 1.37×
• Total profit: $25,511
• Equity at exit: $21,183

Cash invested: $68,600 (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 23602

• Home prices YoY: -19.2%
• Rents YoY: 13.2%
• Active inventory: 185
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$307 /mo · $3,685/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-9

Break-even live

Break-even rent $2,144

Max offer price $243,452

Occupancy floor 95%

Sensitivity live

Price	-10% $130	-5% $61	+0% $-9	+5% $-78	+10% $-147
Rent	-10% $-177	-5% $-93	+0% $-9	+5% $75	+10% $160
Rate	-1.0pp $115	-0.5pp $54	base $-9	+0.5pp $-72	+1.0pp $-137

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 Flint Dr Newport News, VA	4.0	1.5	1415	$2,300	$1.63	45d	1	0.02mi
14353 Deloice Cres Newport News, VA	1.0–3.0	1.0–2.0	971	$2,032	$2.09	3d	11	0.21mi
161 Jenness Ln Newport News, VA	3.0	1.5	1121	$1,537	$1.37	45d	1	0.53mi
381 Advocate Ct Unit F Newport News, VA	3.0	2.5	1400	$1,325	$0.95	45d	1	0.61mi
4327 Lacy Cove Ln Newport News, VA	3.0	2.5	1382	$2,200	$1.59	12d	1	0.65mi
108 Tazewell Rd Newport News, VA	3.0	2.0	1144	$1,900	$1.66	45d	1	0.73mi
397 Deputy Ln Unit A Newport News, VA	3.0	2.5	1422	$1,925	$1.35	22d	1	0.74mi
416 Hustings Ln Newport News, VA	3.0	3.0	1422	$1,850	$1.30	13d	1	0.79mi
416 Hustings Ln Unit F Newport News, VA	3.0	2.5	1422	$1,850	$1.30	16d	1	0.79mi
213 Picard Dr Newport News, VA	3.0	1.0	1200	$1,800	$1.50	4d	1	0.84mi
229 Telford Dr Newport News, VA	3.0	2.0	1500	$2,495	$1.66	45d	1	0.87mi
104 Landmark Ct Newport News, VA	1.0–3.0	1.0–2.0	1020	$1,802	$1.77	3d	1	1.02mi
408 Savage Dr Unit A Newport News, VA	3.0	2.5	1380	$1,895	$1.37	45d	1	1.18mi
205 Orkney Pl Newport News, VA	3.0	1.5	2072	$2,300	$1.11	25d	1	1.24mi
13302 Garden State Dr Newport News, VA	1.0–3.0	1.0–2.0	915	$1,750	$1.91	4d	19	1.27mi
330 Kingsman Dr Newport News, VA	3.0	1.5	1166	$1,650	$1.42	45d	1	1.32mi
376 Susan Constant Dr Newport News, VA	3.0	3.0	1584	$1,695	$1.07	25d	1	1.34mi
119 Cindy Cir Newport News, VA	3.0	2.0	1579	$2,395	$1.52	5d	1	1.35mi
12750 Saint George St Newport News, VA	3.0	2.5	1350	$1,300	$0.96	9d	1	1.40mi
7 Friedman Pl Newport News, VA	3.0	2.0	1537	$2,250	$1.46	12d	1	1.49mi

Listing history 5 events

1. 2026-05-11
   status Under Contract 364-char remark

   Show marketing remark (364 chars)

   Great opportunity for investors or buyers looking to add value. Located on a cul-de-sac, this one-owner home offers solid bones and untapped potential. Features include a first-floor bedroom, hardwood floors under carpet, and an updated kitchen with custom cabinetry. The detached garage with additional rooms on the back and above opens the door for creative use.

2. 2026-05-04
   historical Active Under Contract 364-char remark

   Show marketing remark (364 chars)

   Great opportunity for investors or buyers looking to add value. Located on a cul-de-sac, this one-owner home offers solid bones and untapped potential. Features include a first-floor bedroom, hardwood floors under carpet, and an updated kitchen with custom cabinetry. The detached garage with additional rooms on the back and above opens the door for creative use.

3. 2026-04-27
   price $245,000 364-char remark

   Show marketing remark (364 chars)

   Great opportunity for investors or buyers looking to add value. Located on a cul-de-sac, this one-owner home offers solid bones and untapped potential. Features include a first-floor bedroom, hardwood floors under carpet, and an updated kitchen with custom cabinetry. The detached garage with additional rooms on the back and above opens the door for creative use.

4. 2026-04-17
   listed $260,000 Active 364-char remark

   Show marketing remark (364 chars)

   Great opportunity for investors or buyers looking to add value. Located on a cul-de-sac, this one-owner home offers solid bones and untapped potential. Features include a first-floor bedroom, hardwood floors under carpet, and an updated kitchen with custom cabinetry. The detached garage with additional rooms on the back and above opens the door for creative use.

5. 1970-09-23
   soldstatus $21,400

ⓘ 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: $3,685 · $307/mo
• Projected year-2 tax: $3,685 · $307/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 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 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: $25,598
• − Mortgage interest: −$13,724
• − Property taxes: −$3,685
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − Depreciation: −$7,127
• Taxable loss: −$4,259
• Est. tax savings @ 24.0%: +$1,022
• After-tax cash flow: $917/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): 42,265
• Household income: $79,475
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1696.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 42% Black 34% Hispanic / Latino 12% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 10% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 6% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

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: ▼ -67.28%
• Current HPI: 283.0889
• Rent YoY: ▲ 13.22%
• 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

+1044.9% since first listed

5 events — show timeline

• 2026-05-11 Pending — REINMLS
• 2026-05-04 Contingent — REINMLS
• 2026-04-27 Price Changed $245,000 REINMLS
• 2026-04-17 Listed $260,000 REINMLS
• 1970-09-23 Sold (Public Records) $21,400 Public Records

Property tax history

+4.8%/yr

Latest (2026): $3,685 · +6.9% YoY. Source: county tax records.