23 Laurel Dr · Hampton, VA 23669

$119,000

2 bd · 1.0 ba · 852 sqft · SingleFamily public records · 14 Days on market

Built 1948 0.28 ac lot Est $209k · 43% 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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.3/10.0
• Schools +5.5/10.0
• 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 see this 2br, 1bth ranch style home with 2 car detached garage located in the Cherry Acres neighborhood of Hampton.

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1948

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached 2-car garage (approx. 480 sq ft)
• Utilities: City/County water; City/County sewer; Electric service (standard)
• Home design: Detached ranch; Single-story; Crawlspace foundation; Simple ownership
• Construction: Wood exterior; Asphalt shingle roof; Crawl foundation
• Exterior features: Wood siding; Lot approximately 0.2824 acres; Lot dimensions about 123' x 100'

Interior

• Bedrooms: First-floor bedroom with full bathroom
• Flooring: Ceramic; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Ceramic and wood flooring; Bedroom and full bathroom on the first floor
• Laundry & utility: Washer hookup; Dryer hookup; Water heater (other type)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Cap rate 9.6% 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: Barron Elementary (math 62% / reading 77%, grade A-, #313 of 1,108 statewide, top 32%, 368 students, 87% FRL); Kecoughtan High (math 68% / reading 87%, grade A-, #83 of 319 statewide, top 28%, 1,564 students, 86% FRL) — zoned schools average 86% FRL vs 49% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 236 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $823 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 + 5.4% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $32k; list at $119k implies a 271% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $119,000

Questions for the listing agent

1. Built in 1948 — 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: 1.23% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.93%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $208,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Clayton Dr	0.17mi	2/1.0	891 (+5%)	4mo	$235,000	$264	81
26 Bernard Ave	0.43mi	2/1.0	840 (-1%)	2mo	$80,000	$95	76
9 Lucas Dr	0.04mi	2/2.0	950 (+12%)	2mo	$260,000	$274	74
27 Crestwood Cir	0.12mi	3/1.0 (+1)	938 (+10%)	6mo	$145,000	$155	68
430 Cedar Dr	0.68mi	3/1.0 (+1)	828 (-3%)	4mo	$209,999	$254	55
1009 Bethel Ave	0.51mi	3/1.0 (+1)	938 (+10%)	1mo	$160,000	$171	54
66 Cavalier Rd	0.71mi	3/1.0 (+1)	902 (+6%)	1mo	$179,900	$199	52
37 Cavalier Rd	0.63mi	2/1.0	744 (-13%)	1mo	$199,000	$267	49
54 Cavalier Rd	0.65mi	2/1.0	744 (-13%)	3mo	$91,000	$122	46
840 Quash St	0.53mi	3/2.0 (+1)	941 (+10%)	6mo	$115,000	$122	44
1127 Rowe St	0.72mi	3/2.0 (+1)	920 (+8%)	3mo	$225,000	$245	41
1325 Bethel Ave	0.74mi	3/2.0 (+1)	945 (+11%)	6mo	$242,000	$256	33

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $2,027
• Equity at exit: $17,743

10-year hold

• IRR: 13.6%
• Equity multiple: 2.22×
• Total profit: $40,541
• Equity at exit: $10,289

Cash invested: $33,320 (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: 236
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,468 high
• Mortgage (P&I): −$624
• Tax from tax record: −$155 /mo · $1,856/yr
• Insurance: −$50
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $276

Break-even live

Break-even rent $1,119

Max offer price $119,000

Occupancy floor 76%

Sensitivity live

Price	-10% $343	-5% $309	+0% $276	+5% $242	+10% $208
Rent	-10% $160	-5% $218	+0% $276	+5% $334	+10% $392
Rate	-1.0pp $336	-0.5pp $306	base $276	+0.5pp $245	+1.0pp $213

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Monroe Dr Hampton, VA	3.0	1.0	1110	$1,600	$1.44	45d	1	0.33mi
100 Spanish Trl Hampton, VA	1.0–2.0	1.0–1.5	812	$1,450	$1.79	3d	12	0.37mi
8 Rip Rap Rd Hampton, VA	2.0	1.0	1000	$1,200	$1.20	22d	1	0.39mi
19 Bernard Ave Hampton, VA	2.0	1.0	906	$995	$1.10	22d	1	0.43mi
24 Cavalier Rd Hampton, VA	3.0	2.0	1014	$1,850	$1.82	5d	1	0.61mi
450 Cedar Dr Hampton, VA	3.0	1.0	912	$1,500	$1.64	13d	1	0.62mi
109 Peachtree Ln Hampton, VA	3.0	2.0	984	$1,795	$1.82	16d	1	0.69mi
1261 N King St Apt A Hampton, VA	1.0	1.0	600	$800	$1.33	16d	1	0.72mi
105 Roland Dr Hampton, VA	2.0	1.0	750	$1,250	$1.67	16d	1	0.79mi
234 Washington St Hampton, VA	2.0	1.0	1111	$2,000	$1.80	12d	1	0.81mi
1115 E Pembroke Ave Hampton, VA	2.0	1.0	850	$1,275	$1.50	3d	1	0.88mi
232 W Gilbert St Hampton, VA	1.0–2.0	1.0	767	$1,371	$1.79	3d	1	0.93mi
323 Roane Dr Hampton, VA	3.0	1.0	974	$1,495	$1.53	5d	1	1.00mi
212 Pine Grove Ave Hampton, VA	2.0	1.0	720	$1,500	$2.08	25d	1	1.01mi
320 E Mercury Blvd Unit 56 Hampton, VA	1.0	1.0	650	$850	$1.31	18d	1	1.07mi
320 E Mercury Blvd Apt 63 Hampton, VA	1.0	1.0	650	$850	$1.31	45d	1	1.09mi
224 W Queen St Unit 224A Hampton, VA	1.0	1.5	1100	$1,950	$1.77	45d	1	1.15mi
13 Beverly St Hampton, VA	3.0	1.0	1050	$1,800	$1.71	5d	1	1.27mi
1802 Moger Dr Hampton, VA	3.0	1.0	900	$1,700	$1.89	13d	1	1.28mi
901 W Queen St Hampton, VA	2.0–3.0	1.5–2.5	1096	$1,250	$1.14	45d	1	1.50mi

Listing history 10 events

1. 2026-06-21
   days on market $119,000 Active 14 DOM
2. 2026-06-18
   days on market $119,000 Active 11 DOM
3. 2026-06-17
   days on market $119,000 Active 10 DOM
4. 2026-06-16
   days on market $119,000 Active 9 DOM
5. 2026-06-15
   days on market $119,000 Active 8 DOM
6. 2026-06-13
   days on market $119,000 Active 6 DOM
7. 2026-06-13
   days on market $119,000 Active 5 DOM
8. 2026-06-09
   days on market $119,000 Active 2 DOM
9. 2026-06-08
   remarks 120-char remark
10. 2026-06-08
    listed $119,000 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: $1,856 · $155/mo
• Projected year-2 tax: $1,856 · $155/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 (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $17,613
• − Mortgage interest: −$6,666
• − Property taxes: −$1,856
• − Insurance: −$1,262
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$3,462
• Taxable income: $1,550
• Est. tax owed @ 24.0%: −$372
• After-tax cash flow: $2,936/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

+366.7% since first listed

4 events — show timeline

• 2026-06-05 Listed $119,000 REINMLS
• 1981-04-01 Sold (Public Records) $32,079 Public Records
• 1980-03-01 Sold (Public Records) $30,942 Public Records
• 1978-10-01 Sold (Public Records) $25,500 Public Records

Property tax history

+9.5%/yr

Latest (2025): $1,856 · +12.3% YoY. Source: county tax records.