4005 Robert E Lee Dr · Hopewell, VA 23860

$229,900

3 bd · 1.0 ba · 984 sqft · SingleFamily public records · 6 Days on market

Built 1986 0.29 ac lot Est $210k · 10% over

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Why this score? — see what drove the D- 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 +11.4/30.0
• Schools +6.1/10.0
• Rent growth +4.7/5.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• ARV discount +3.1/15.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

COMPLETELY REMODELED!! GREAT STARTER HOME! NEW CARPET AND VINYL FLOORING, NEWLY PAINTED INTERIOR, NEW APPLIANCES (OVER & DISHWASHER), AND NEW VINYL SIDING! 3 BEDROOMS, 1 FULL BATH, FRONT PORCH, SCREENED BACK PORCH, FENCED BACKYARD, ALARM SYSTEM, HEAT PUMP 2 YEARS OLD, CENTRAL AIR CONDITIONING. HOME WARRANTY. SELLER WILL PAY $2,000 TOWARDS CLOSING COSTS.

Key facts

• 0.29 acre lot
• Parking
• Built 1986

Property features AI

Exterior

• Parking: Unpaved driveway
• Utilities: Public water; Public sewer
• Home design: Single-story home; Renovated; R-2 zoning
• Construction: Block and vinyl siding construction; Shingle roof
• Exterior features: Porch; Unpaved driveway

Interior

• Kitchen: Dishwasher; Electric cooking; Microwave; Refrigerator; Stove
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom with tub and shower (located on the first floor)
• Heating & cooling: Electric heating; Central air conditioning (electric)
• Interior features: Vinyl flooring; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-80 ($-958/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (26.7% below list).
• Recommended offer: $169k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.2% in Hopewell — 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 70/100 on livability (#224 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D+, amenities F, commute F.
• Prince George County Public School District (rural): math 67% / reading 75% proficiency, ranked #16 of 131 in VA (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: L.L. Beazley Elementary (math 82% / reading 86%, grade A+, #87 of 1,108 statewide, top 8%, 584 students, 65% FRL); J.E.J. Moore Middle (math 61% / reading 71%, grade A-, #113 of 342 statewide, top 33%, 1,393 students, 33% FRL); Prince George High (math 70% / reading 82%, grade A-, #102 of 319 statewide, top 32%, 1,796 students, 31% FRL) — zoned schools average 43% FRL vs 28% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.9%/yr); 234 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 72 units permitted in Prince George County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/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.
• Prince George County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y ago; this cycle's ask is 68% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $137k; list at $230k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 48% 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 $168,628 (26.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. Crime grade is D 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.73% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.49%
• DSCR: 0.93
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $209,592
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3912 Robert E Lee Dr	0.11mi	3/1.5	1,104 (+12%)	1mo	$235,000	$213	72
4016 Old Iron Rd	0.11mi	3/1.5	1,104 (+12%)	15mo	$219,950	$199	60
3700 Butor Rd	0.31mi	3/1.5	1,104 (+12%)	11mo	$229,000	$207	54
3723 Robert E Lee Dr	0.26mi	3/1.5	1,104 (+12%)	24mo	$235,000	$213	46
1903 Dinwiddie Ave	0.64mi	3/1.0	1,108 (+13%)	15mo	$275,000	$248	37
1505 Old Iron Rd	0.74mi	3/2.0	1,100 (+12%)	20mo	$212,000	$193	25

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: -13.9%
• Equity multiple: 0.48×
• Total profit: $-33,509
• Equity at exit: $34,279

10-year hold

• IRR: 0.8%
• Equity multiple: 1.07×
• Total profit: $4,498
• Equity at exit: $19,878

Cash invested: $64,372 (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 23860

• Home prices YoY: -22.0%
• Rents YoY: 8.9%
• Active inventory: 234
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,686 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$111 /mo · $1,327/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $-80

Break-even live

Break-even rent $1,787

Max offer price $215,800

Occupancy floor 100%

Sensitivity live

Price	-10% $50	-5% $-15	+0% $-80	+5% $-145	+10% $-210
Rent	-10% $-213	-5% $-146	+0% $-80	+5% $-13	+10% $53
Rate	-1.0pp $36	-0.5pp $-21	base $-80	+0.5pp $-139	+1.0pp $-200

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5000 Owens Way Prince George, VA	1.0–4.0	1.0–4.0	1106	$2,333	$2.11	3d	25	0.30mi
4750 Baileys Ridge Dr Prince George, VA	2.0–3.0	2.0	1028	$1,490	$1.45	3d	4	0.32mi
4399 Jefferson Pointe Ln Prince George, VA	1.0–2.0	1.0–2.0	992	$1,390	$1.40	3d	2	0.47mi
3807 Woodlawn St Unit 8 Hopewell, VA	2.0	1.0	900	$1,095	$1.22	6d	1	1.01mi
3502 Oaklawn Blvd Hopewell, VA	3.0	1.0	1124	$1,850	$1.65	23d	1	1.16mi
3500 Oaklawn Blvd Hopewell, VA	3.0	1.0	1000	$1,650	$1.65	19d	1	1.16mi

Listing history 11 events

1. 2026-06-19
   status $229,900 Pending 6 DOM
2. 2026-06-18
   days on market $229,900 Active 6 DOM
3. 2026-06-17
   days on market $229,900 Active 5 DOM
4. 2026-06-16
   days on market $229,900 Active 4 DOM
5. 2026-06-15
   days on market $229,900 Active 3 DOM
6. 2026-06-13
   statusdays on market $229,900 Active 1 DOM
7. 2026-06-10
   days on market $229,900 Coming Soon 4 DOM
8. 2026-06-09
   days on market $229,900 Coming Soon 3 DOM
9. 2026-06-08
   days on market $229,900 Coming Soon 2 DOM
10. 2026-06-07
    remarks 630-char remark
11. 2026-06-07
    listed $229,900 Coming Soon 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: $1,327 · $111/mo
• Projected year-2 tax: $1,885 · $157/mo
• Expected delta: +$558/yr (+$47/mo · 42.1%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 48% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,235
• − Mortgage interest: −$12,878
• − Property taxes: −$1,327
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,619
• − Management: −$1,619
• − Depreciation: −$6,688
• Taxable loss: −$5,045
• Est. tax savings @ 24.0%: +$1,211
• After-tax cash flow: $253/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: Prince George County Public School District
• NCES district ID: 5103090
• Math proficiency: 67% ▼ -17.00%
• Reading proficiency: 75% ▼ -8.00%
• Median HH income: $63,354
• Composite: 61.44/100
• National rank: #759
• State rank: #16 of 131 in VA

Livability — Hopewell

• Score: 70/100
• State rank: #224
• US rank: #7437

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment F Housing A- Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hopewell City · 31,404 people
• City population: 31,404
• Metro: Richmond, VA
• Population (ZIP): 31,404
• Household income: $62,141
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1055.0

Population outlook (Prince George County) Hauer SSP2

• Today (2025): 44,946 people
• By 2030: 48,155 · +7.1%
• By 2040: 54,455 · +21.2%
• By 2050: 61,115 · +36.0%
• By 2075: 78,510 · +74.7%
• By 2100: 85,572 · +90.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 43% Black 42% Two or more races 9% Hispanic / Latino 8% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Prince George

• 2024 margin: Strong R (+21.3) · D 38.9% · R 60.2%
• 2008→2024 swing: -11.2pp toward R · 2008: -10.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+17.2 2016: R+17.0 2012: R+9.8 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.28%
• Current HPI: 302.6343
• Rent YoY: ▲ 8.86%
• Metro: Richmond, VA
• 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

+254.2% since first listed

8 events — show timeline

• 2026-06-06 Coming Soon $229,900 CVRMLS
• 2006-10-31 Sold (Public Records) $137,000 Public Records
• 2006-10-31 Sold (MLS) $137,000 CVRMLS
• 2006-10-31 Sold (MLS) $137,000 CVRMLS
• 2006-06-16 Listed $137,000 CVRMLS
• 2006-06-16 Listed $137,000 CVRMLS
• 1999-12-01 Sold (Public Records) $69,500 Public Records
• 1996-03-18 Sold (Public Records) $64,900 Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,327 · +0.0% YoY. Source: county tax records.