1124 22nd St · Newport News, VA 23607

$109,000

3 bd · 1.0 ba · 992 sqft · SingleFamily public records · 173 Days on market

Built 1966 Est $166k · 34% under

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Why this score? — see what drove the B+ 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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.9/10.0
• 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

This 3-bedroom home offers a great layout and solid bones, ready for your vision and updates. Once fully renovated just a few years ago with a new kitchen, bath, HVAC, water heater, electrical, and plumbing (all approx. 3 years old), it now needs TLC to bring it back to its former glory. Features include hardwood floors and vinyl plank. Ideal investors, flippers, or handy buyers looking for sweat equity.

Key facts

• Built 1966
• Listed 173 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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.
• Zoned schools: Sedgefield Elementary (math 9% / reading 37%, grade F, #1,066 of 1,108 statewide, top 96%, 469 students, 91% FRL); Menchville High (math 39% / reading 79%, grade C+, #256 of 319 statewide, top 81%, 1,788 students, 87% FRL) — zoned schools average 89% FRL vs 55% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $754 of loan paydown is wiped out by about $916 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 $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y 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: 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 $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $165,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1239 24th St	0.24mi	3/1.0	1,000 (+1%)	2mo	$163,000	$163	86
1141 27th St	0.27mi	3/1.0	1,000 (+1%)	2mo	$85,000	$85	84
1605 Roanoke Ave	0.33mi	2/1.0 (-1)	1,000 (+1%)	4mo	$110,000	$110	75
1042 25th St	0.18mi	3/1.0	892 (-10%)	1mo	$95,000	$107	74
1234 22nd St	0.19mi	3/1.0	1,100 (+11%)	1mo	$259,000	$235	72
1016 32nd St	0.51mi	3/1.0	1,018 (+3%)	4mo	$199,900	$196	69
848 31st St	0.57mi	3/1.0	1,045 (+5%)	1mo	$175,000	$167	64
988 15th St	0.43mi	2/1.0 (-1)	1,061 (+7%)	2mo	$126,050	$119	62
731 31st St	0.73mi	3/1.0	969 (-2%)	3mo	$200,000	$206	60
921 26th St	0.33mi	2/2.0 (-1)	1,092 (+10%)	3mo	$225,000	$206	56
1210 33rd St	0.56mi	3/1.0	861 (-13%)	0mo	$83,000	$96	52
132 Ash Ave	0.58mi	2/1.0 (-1)	850 (-14%)	2mo	$191,500	$225	42

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: 9.4%
• Equity multiple: 1.42×
• Total profit: $12,930
• Equity at exit: $27,149

10-year hold

• IRR: 15.3%
• Equity multiple: 2.54×
• Total profit: $46,927
• Equity at exit: $29,228

Cash invested: $30,520 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,409 high
• Mortgage (P&I): −$572
• Tax from tax record: −$175 /mo · $2,106/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $321

Break-even live

Break-even rent $1,003

Max offer price $109,000

Occupancy floor 72%

Sensitivity live

Price	-10% $383	-5% $352	+0% $321	+5% $290	+10% $259
Rent	-10% $209	-5% $265	+0% $321	+5% $376	+10% $432
Rate	-1.0pp $376	-0.5pp $349	base $321	+0.5pp $293	+1.0pp $264

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2314 Chestnut Ave Newport News, VA	2.0	1.0	900	$12,900	$14.33	2d	1	0.13mi
1240 24th St Newport News, VA	2.0	1.0	752	$995	$1.32	24d	1	0.22mi
1239 24th St Newport News, VA	3.0	1.0	880	$1,495	$1.70	44d	1	0.22mi
829 22nd St Newport News, VA	3.0	1.5	1020	$1,650	$1.62	44d	1	0.40mi
932 16th St Newport News, VA	2.0	1.0	754	$1,500	$1.99	44d	1	0.44mi
1348 28th St Newport News, VA	2.0	1.0	997	$1,350	$1.35	4d	1	0.46mi
1348 28th St Unit NA Newport News, VA	2.0	1.0	997	$1,350	$1.35	24d	1	0.46mi
1152 Orcutt Ave Newport News, VA	3.0	1.0	947	$1,375	$1.45	4d	1	0.49mi
740 21st St Newport News, VA	3.0	2.0	1120	$2,000	$1.79	44d	1	0.56mi
41 Ash Ave Unit B Newport News, VA	2.0	1.0	930	$1,500	$1.61	24d	1	0.66mi
749 31st St Newport News, VA	3.0	2.0	1000	$1,900	$1.90	44d	1	0.68mi
1010 36th St Newport News, VA	2.0	1.0	775	$1,095	$1.41	24d	1	0.68mi
935 37th St Unit 16 Newport News, VA	2.0	1.0	700	$995	$1.42	44d	1	0.79mi
935 37th St Unit 4 Newport News, VA	2.0	1.0	700	$900	$1.29	24d	1	0.79mi
935 37th St Unit 15 Newport News, VA	2.0	1.0	700	$995	$1.42	8d	1	0.79mi
3206 Madison Ave Newport News, VA	3.0	1.0	900	$1,550	$1.72	11d	1	0.80mi
709 33rd St Unit 1 Newport News, VA	2.0	1.0	878	$1,400	$1.59	18d	1	0.81mi
913 41st St Newport News, VA	2.0	1.5	740	$1,045	$1.41	24d	1	0.97mi
915 41st St Newport News, VA	2.0	1.0	740	$1,045	$1.41	24d	1	0.97mi
4104 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	24d	1	0.98mi
4104 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	44d	1	0.98mi
4111 Orcutt Ave Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	0.98mi
4101 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	24d	1	0.98mi
4107 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	44d	1	0.99mi
4119 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	24d	1	1.01mi
4218 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	1.01mi
841 41st St Newport News, VA	2.0	1.0	740	$795	$1.07	11d	1	1.01mi
4200 Newsome Dr Newport News, VA	2.0	1.0	895	$795	$0.89	24d	1	1.01mi
4224 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	24d	1	1.02mi
4226 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	24d	1	1.02mi
4135 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	1.02mi
4137 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	1.03mi
4163 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	24d	1	1.03mi
4241 Orcutt Ave Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	1.04mi
4263 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	11d	1	1.07mi
4263 Newsome Dr Unit 4263 Newport News, VA	2.0	1.0	740	$1,045	$1.41	44d	1	1.07mi
4261 Newsome Dr Newport News, VA	2.0	1.0	740	$10,145	$13.71	24d	1	1.07mi
4325 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	11d	1	1.09mi
4325 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	1.09mi
417 Greenbriar Ave Hampton, VA	3.0	2.0	1007	$1,695	$1.68	8d	1	1.23mi

Listing history 20 events

1. 2026-02-02
   status Under Contract
2. 2026-01-31
   historical
3. 2025-08-20
   historical Active Under Contract
4. 2025-08-11
   listed $109,000 Active
5. 2022-11-21
   soldstatus $174,000
6. 2022-09-30
   status Under Contract
7. 2022-09-16
   price $174,000
8. 2022-09-07
   listed $175,000 Active
9. 2022-07-18
   soldstatus $107,000
10. 2022-07-16
    status Under Contract
11. 2022-07-06
    status Active
12. 2022-06-18
    status Under Contract
13. 2022-06-01
    status Active
14. 2022-05-09
    status Under Contract
15. 2022-05-02
    listed $99,900 Active
16. 2019-03-15
    status Under Contract
17. 2019-03-10
    price $23,500
18. 2019-02-21
    price $39,500
19. 2019-01-23
    listed $55,800 Active
20. 1966-06-01
    soldstatus $3,000

ⓘ 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: $2,106 · $175/mo
• Projected year-2 tax: $2,106 · $175/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 ≥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: $16,911
• − Mortgage interest: −$6,106
• − Property taxes: −$2,106
• − Insurance: −$545
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$3,171
• Taxable income: $2,278
• Est. tax owed @ 24.0%: −$547
• After-tax cash flow: $3,303/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

+3533.3% since first listed

20 events — show timeline

• 2026-02-02 Pending — REINMLS
• 2026-01-31 Listing Removed — REINMLS
• 2025-08-20 Contingent — REINMLS
• 2025-08-11 Listed $109,000 REINMLS
• 2022-11-21 Sold (Public Records) $174,000 Public Records
• 2022-09-30 Pending — REINMLS
• 2022-09-16 Price Changed $174,000 REINMLS
• 2022-09-07 Listed $175,000 REINMLS
• 2022-07-18 Sold (Public Records) $107,000 Public Records
• 2022-07-16 Pending — REINMLS
• 2022-07-06 Relisted — REINMLS
• 2022-06-18 Pending — REINMLS
• 2022-06-01 Relisted — REINMLS
• 2022-05-09 Pending — REINMLS
• 2022-05-02 Listed $99,900 REINMLS
• 2019-03-15 Pending — REINMLS
• 2019-03-10 Price Changed $23,500 REINMLS
• 2019-02-21 Price Changed $39,500 REINMLS
• 2019-01-23 Listed $55,800 REINMLS
• 1966-06-01 Sold (Public Records) $3,000 Public Records

Property tax history

+7.0%/yr

Latest (2026): $2,106 · +13.2% YoY. Source: county tax records.