18 E Kelly Ave · Hampton, VA 23663

$115,000

2 bd · 1.0 ba · 855 sqft · SingleFamily public records · 6 Days on market

Built 1970 3,049 sqft lot Est $188k · 39% 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! Being sold strictly as is where is, seller to make no repairs. All appliances and personal items present will remain.

Key facts

• 3,049 sq ft lot
• Built 1970
• Listed 6 days

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Street parking
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached ranch; Single-story (1 living level); Simple ownership; Entry-level living on one floor
• Construction: Crawl foundation; Asphalt shingle roof
• Exterior features: Brick siding; Chain link fence

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on 1st floor
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Floor furnace heating
• Interior features: Carpet and laminate flooring
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 10.6% 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: Jane H. Bryan Elementary (math 42% / reading 57%, grade D, #742 of 1,108 statewide, top 70%, 376 students, 82% FRL); Phoebus High (math 57% / reading 76%, grade B, #195 of 319 statewide, top 62%, 1,365 students, 86% FRL) — zoned schools average 84% FRL vs 49% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 80 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 68 units permitted in Hampton city in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($54k/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 $795 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $30k; list at $115k implies a 278% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; 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 $115,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.35% ✓
• Cap rate: 10.63%
• Cash-on-cash: 15.50%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $188,100
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 E Taylor Ave	0.03mi	2/2.0	810 (-5%)	2mo	$250,000	$309	84
21 W Kelly Ave	0.13mi	2/1.0	888 (+4%)	9mo	$210,000	$236	80
111 E Cummings Ave	0.09mi	2/1.0	900 (+5%)	8mo	$205,900	$229	80
10 Booker St	0.34mi	2/1.0	911 (+6%)	2mo	$126,454	$139	71
112 W Kelly Ave	0.22mi	3/1.0 (+1)	947 (+11%)	2mo	$205,000	$216	65
10 Hopkins St	0.32mi	3/1.0 (+1)	900 (+5%)	10mo	$190,000	$211	63
41 W Virginia Ave	0.20mi	3/1.0 (+1)	944 (+10%)	10mo	$185,000	$196	60
210 S Hope St	0.55mi	2/1.0	780 (-9%)	4mo	$75,000	$96	57
44 Booker St	0.26mi	3/1.5 (+1)	977 (+14%)	5mo	$215,000	$220	53
401 Institute Dr	0.61mi	3/1.0 (+1)	946 (+11%)	2mo	$259,900	$275	47
29 Scotland Rd	0.58mi	3/2.0 (+1)	975 (+14%)	1mo	$215,000	$221	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 · 3.13% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $4,583
• Equity at exit: $17,147

10-year hold

• IRR: 13.4%
• Equity multiple: 2.08×
• Total profit: $34,649
• Equity at exit: $9,943

Cash invested: $32,200 (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 23663

• Home prices YoY: -4.3%
• Rents YoY: 3.1%
• Active inventory: 80
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,552 high
• Mortgage (P&I): −$603
• Tax from tax record: −$160 /mo · $1,914/yr
• Insurance: −$48
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $360

Break-even live

Break-even rent $1,096

Max offer price $115,000

Occupancy floor 72%

Sensitivity live

Price	-10% $425	-5% $393	+0% $360	+5% $328	+10% $295
Rent	-10% $238	-5% $299	+0% $360	+5% $422	+10% $483
Rate	-1.0pp $418	-0.5pp $390	base $360	+0.5pp $330	+1.0pp $300

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
949 N Mallory St Hampton, VA	2.0	1.5	1054	$1,250	$1.19	2d	1	0.34mi
4 Bainbridge Ave Unit B Hampton, VA	2.0	1.5	1050	$1,550	$1.48	44d	1	0.46mi
150 Ingalls Rd Fort Monroe, VA	1.0	1.0	571	$19,269	$33.75	2d	23	0.82mi
150 Ingalls Rd Unit 102 Fort Monroe, VA	1.0	1.0	717	$2,125	$2.96	44d	1	0.82mi
150 Ingalls Rd Unit 203 Fort Monroe, VA	1.0	1.0	739	$2,192	$2.97	18d	1	0.82mi
150 Ingalls Rd Unit 204 Fort Monroe, VA	2.0	1.0	872	$2,060	$2.36	18d	1	0.82mi
150 Ingalls Rd Unit 206 Fort Monroe, VA	1.0	1.0	534	$1,584	$2.97	18d	1	0.82mi
320 E Mercury Blvd Apt 63 Hampton, VA	1.0	1.0	650	$850	$1.31	44d	1	0.86mi
320 E Mercury Blvd Unit 56 Hampton, VA	1.0	1.0	650	$850	$1.31	18d	1	0.89mi
435 Smiley Rd Hampton, VA	2.0	1.0	624	$1,195	$1.92	5d	1	0.99mi
1115 E Pembroke Ave Hampton, VA	2.0	1.0	850	$1,275	$1.50	2d	1	1.11mi
2010 E Pembroke Ave Hampton, VA	2.0	1.0	900	$1,150	$1.28	4d	1	1.43mi
1802 Moger Dr Hampton, VA	3.0	1.0	900	$1,700	$1.89	13d	1	1.48mi
234 Washington St Hampton, VA	2.0	1.0	1111	$2,000	$1.80	11d	1	1.49mi

Listing history 7 events

1. 2026-06-19
   status $115,000 Under Contract 6 DOM
2. 2026-06-18
   days on market $115,000 Active 6 DOM
3. 2026-06-17
   days on market $115,000 Active 5 DOM
4. 2026-06-16
   days on market $115,000 Active 4 DOM
5. 2026-06-15
   days on market $115,000 Active 3 DOM
6. 2026-06-13
   remarks 135-char remark
7. 2026-06-13
   listed $115,000 Active 1 DOM

ⓘ 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: $1,914 · $160/mo
• Projected year-2 tax: $1,914 · $160/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 7/10 Severe FEMA zone X (unshaded) · 90% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,628
• − Mortgage interest: −$6,442
• − Property taxes: −$1,914
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,490
• − Management: −$1,490
• − Depreciation: −$3,345
• Taxable income: $2,705
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $3,674/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): 14,656
• Household income: $54,336
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 803.0

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 48% White 37% Two or more races 11% Hispanic / Latino 5%
• Common ancestry: Romanian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -14.71%
• Current HPI: 328.8386
• Rent YoY: ▲ 3.13%
• 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

+253.8% since first listed

3 events — show timeline

• 2026-06-12 Listed $115,000 REINMLS
• 1992-10-01 Sold (Public Records) $30,440 Public Records
• 1987-07-01 Sold (Public Records) $32,500 Public Records

Property tax history

+9.6%/yr

Latest (2025): $1,914 · +16.2% YoY. Source: county tax records.