8508 Kennedy Dr · Hampton, VA 23605

$120,000

3 bd · 1.5 ba · 1,248 sqft · SingleFamily public records · 11 Days on market

Built 1962 $96/sqft · 50% below area

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with strong upside potential! This 3-bedroom, 1-bath ranch offers an opportunity for renovation in an established Hampton neighborhood with renovated and well-maintained homes nearby. Conveniently located near shopping, dining, schools, and interstate access. Property is being sold strictly as-is. Great potential for fix-and-flip or long-term investment. This property may qualify for Seller Financing (Vendee). The property was built prior to 1978 and lead based paint may potentially exist.

Key facts

• Near schools
• Near dining
• Near shopping

Tags

• ESTABLISHED NEIGHBORHOOD
• CONVENIENTLY LOCATED
• NEAR SHOPPING
• NEAR DINING
• NEAR SCHOOLS
• NEAR INTERSTATE ACCESS

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Driveway parking spaces
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached ranch single-family home; Single-story (one living level); Crawl foundation; Simple ownership
• Construction: Asphalt shingle roof
• Exterior features: Aluminum siding; Back yard fenced; Storage shed

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedroom and full bathroom on the first floor; 5 total rooms including 1st floor bedroom, attic, spare room, and utility closet
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Scuttle (attic) access
• Laundry & utility: Washer hookup; Dryer hookup; Washer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $55 ($660/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 11.4% 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: Alfred S. Forrest Elementary (math 47% / reading 62%, grade C, #650 of 1,108 statewide, top 62%, 540 students, 85% FRL); Bethel High (math 64% / reading 84%, grade B+, #120 of 319 statewide, top 38%, 1,777 students, 86% FRL) — zoned schools average 85% FRL vs 49% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.9%/yr); 42 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 39% 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 $830 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $120,000

Questions for the listing agent

1. Built in 1962 — 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: 1.46% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.41%
• DSCR: 1.82
• GRM: 5.7

CMA / ARV

• ARV (median comp): $240,954
• List price: $120,000
• Delta: -50.20%
• 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
8513 Orcutt Ave	0.04mi	3/1.0	1,282 (+3%)	3mo	$259,900	$203	89
5004 Arony St	0.08mi	4/2.0 (+1)	1,250 (+0%)	4mo	$285,000	$228	86
633 Brewer St	0.41mi	3/2.0	1,300 (+4%)	2mo	$255,000	$196	70
610 Brooke St	0.54mi	3/2.0	1,299 (+4%)	2mo	$292,000	$225	65
377 Whealton Rd	0.17mi	3/2.0	1,426 (+14%)	4mo	$205,000	$144	63
727 Bellwood Rd	0.73mi	3/1.5	1,278 (+2%)	1mo	$160,000	$125	61
17 Roberta Dr	0.70mi	3/2.0	1,282 (+3%)	2mo	$320,000	$250	59
444 Martha Lee Dr	0.64mi	3/1.5	1,348 (+8%)	1mo	$205,000	$152	56
5007 81st St	0.60mi	3/2.0	1,140 (-9%)	6mo	$269,900	$237	51
4827 81st St	0.62mi	4/1.0 (+1)	1,153 (-8%)	1mo	$263,900	$229	50
1008 80th St	0.66mi	3/1.0	1,121 (-10%)	2mo	$122,000	$109	49
5111 81st St	0.62mi	3/1.0	1,062 (-15%)	4mo	$180,000	$169	41

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: -4.7%
• Equity multiple: 0.81×
• Total profit: $-6,319
• Equity at exit: $17,892

10-year hold

• IRR: 12.0%
• Equity multiple: 2.27×
• Total profit: $42,637
• Equity at exit: $10,375

Cash invested: $33,600 (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 23605

• Home prices YoY: -7.6%
• Rents YoY: 8.9%
• Active inventory: 42
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,757 high
• Mortgage (P&I): −$629
• Tax from tax record: −$193 /mo · $2,320/yr
• Insurance: −$50
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $55

Break-even live

Break-even rent $1,687

Max offer price $120,000

Occupancy floor 92%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5014 Hazelwood Rd Newport News, VA	3.0	1.0	955	$1,900	$1.99	2d	1	0.12mi
624 Sterling St Newport News, VA	2.0	1.0	821	$1,500	$1.83	17d	1	0.39mi
314 Martha Lee Dr Hampton, VA	3.0	2.0	1210	$2,200	$1.82	24d	1	0.65mi
606 Randolph Rd Newport News, VA	3.0	1.0	989	$1,475	$1.49	44d	1	0.67mi
346 Sitka Ct Hampton, VA	3.0	1.5	1210	$1,675	$1.38	24d	1	0.77mi
604 Big Bethel Rd Hampton, VA	3.0	1.5	1139	$2,300	$2.02	44d	1	0.85mi
116 Tyler Ave Unit 1A Newport News, VA	2.0	1.0	950	$1,075	$1.13	44d	1	0.86mi
6010 Jefferson Ave Newport News, VA	2.0	1.0	900	$1,245	$1.38	44d	2	0.88mi
1112 74th St Newport News, VA	3.0	1.0	928	$1,500	$1.62	21d	1	0.98mi
531 Bulkeley Pl Newport News, VA	2.0–3.0	1.0–1.5	780	$1,891	$2.42	2d	20	1.04mi
620 73rd St Newport News, VA	3.0	2.0	1203	$1,900	$1.58	2d	1	1.09mi
602 74th St Newport News, VA	2.0	1.0	950	$1,080	$1.14	24d	1	1.09mi
634 72nd St Newport News, VA	2.0	1.0	736	$1,100	$1.49	24d	1	1.12mi
321 Big Bethel Rd Hampton, VA	3.0	1.0	1400	$2,300	$1.64	12d	1	1.13mi
1600 Pennwood Dr Hampton, VA	2.0	1.0	881	$1,350	$1.53	44d	6	1.20mi
207 Ferguson Ave Newport News, VA	3.0	1.0	1350	$1,495	$1.11	24d	1	1.27mi
37 Pennwood Dr Hampton, VA	3.0	2.0	1156	$1,795	$1.55	24d	1	1.28mi
315 Piez Ave Newport News, VA	2.0	1.0	1081	$1,395	$1.29	11d	1	1.32mi
6206 Hilmar Pl Newport News, VA	2.0	1.0	975	$995	$1.02	44d	1	1.46mi

Listing history 4 events

1. 2026-05-11
   listed $120,000 Active 511-char remark
2. 2006-11-30
   soldstatus $172,000
3. 2006-07-27
   soldstatus $84,000
4. 1995-07-01
   soldstatus $72,000

ⓘ 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: $2,320 · $193/mo
• Projected year-2 tax: $2,320 · $193/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 AE · 73% 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: $21,084
• − Mortgage interest: −$6,722
• − Property taxes: −$2,320
• − Insurance: −$6,125
• − Repairs & maintenance: −$1,687
• − Management: −$1,687
• − Depreciation: −$3,491
• Taxable loss: −$947
• Est. tax savings @ 24.0%: +$227
• After-tax cash flow: $887/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: Newport News City · 178,950 people
• City population: 132,421
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 13,332
• Household income: $53,815
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 1119.0

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 0.58)
• Race & ethnicity: Black 59% White 25% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -24.94%
• Current HPI: 305.0997
• Rent YoY: ▲ 8.87%
• 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

+66.7% since first listed

5 events — show timeline

• 2026-05-22 Pending — REINMLS
• 2026-05-11 Listed $120,000 REINMLS
• 2006-11-30 Sold (Public Records) $172,000 Public Records
• 2006-07-27 Sold (Public Records) $84,000 Public Records
• 1995-07-01 Sold (Public Records) $72,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $2,320 · +2.8% YoY. Source: county tax records.