218 Clemwood Pkwy · Hampton, VA 23669

$153,000

3 bd · 1.0 ba · 986 sqft · SingleFamily public records · 43 Days on market

Built 1966 $155/sqft · 39% below area Est $253k · 40% 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +6.0/10.0
• 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

Property being sold "AS IS". Appliances convey "AS IS". Contents and debris in and on the property at settlement convey. Due diligence should be completed prior to submitting offer. No contingencies please. Property is being sold by a Conservator and, as a result, requires approval by a Commissioner of Accounts before any contract can be ratified.

Key facts

• Garage
• Built 1966
• Listed 43 days

Property features AI

Finance

• Other: Fixer upper
• HOA & community: No HOA fees indicated

Exterior

• Parking: Attached 1-car garage; Driveway parking
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached ranch; Single-story
• Construction: Crawl foundation
• Exterior features: Wooded lot; Brick siding; Asphalt shingle roof

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on first floor
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced hot air; Natural gas heating
• Interior features: Scuttle access; Attic; Porch
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $153k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $153k).
• Recommended offer: $148k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $1k of loan paydown is wiped out by about $5k 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 $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $153k implies a 923% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,410 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.10% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (median comp): $253,240
• List price: $153,000
• Delta: -39.58%
• 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
49 Madrid Dr	0.42mi	3/1.0	1,000 (+1%)	2mo	$286,000	$286	76
218 Pine Grove Ave	0.35mi	3/1.0	909 (-8%)	0mo	$250,000	$275	70
119 Rosewood Dr	0.39mi	3/2.0	1,050 (+6%)	1mo	$275,000	$262	66
66 Cavalier Rd	0.54mi	3/1.0	902 (-8%)	1mo	$179,900	$199	60
100 Lexington St	0.55mi	3/1.0	892 (-10%)	1mo	$244,000	$274	58
65 Cavalier Rd	0.56mi	3/2.0	1,070 (+8%)	0mo	$151,500	$142	55
2 Boeing Ave	0.72mi	3/1.0	1,047 (+6%)	2mo	$165,000	$158	54
312 Shawen Dr	0.50mi	3/1.0	864 (-12%)	3mo	$234,200	$271	54
5 Kingslee Ln	0.64mi	3/1.5	1,100 (+12%)	1mo	$274,500	$250	48
3 E Preston St	0.65mi	3/2.0	1,071 (+9%)	5mo	$255,000	$238	47
213 Shawen Dr	0.52mi	2/1.0 (-1)	864 (-12%)	5mo	$135,000	$156	46
38 Saint Albans Dr	0.70mi	3/1.0	1,125 (+14%)	2mo	$255,000	$227	42

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,916
• Equity at exit: $22,813

10-year hold

• IRR: 9.9%
• Equity multiple: 1.85×
• Total profit: $36,397
• Equity at exit: $13,229

Cash invested: $42,840 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,686 high
• Mortgage (P&I): −$802
• Tax from tax record: −$205 /mo · $2,461/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $261

Break-even live

Break-even rent $1,356

Max offer price $153,000

Occupancy floor 80%

Sensitivity live

Price	-10% $347	-5% $304	+0% $261	+5% $217	+10% $174
Rent	-10% $127	-5% $194	+0% $261	+5% $327	+10% $394
Rate	-1.0pp $338	-0.5pp $300	base $261	+0.5pp $221	+1.0pp $181

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: $38,250
• Closing costs: $4,590
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Pine Grove Ave Hampton, VA	2.0	1.0	720	$1,500	$2.08	24d	1	0.37mi
109 Peachtree Ln Hampton, VA	3.0	2.0	984	$1,795	$1.82	15d	1	0.51mi
450 Cedar Dr Hampton, VA	3.0	1.0	912	$1,500	$1.64	13d	1	0.59mi
13 Beverly St Hampton, VA	3.0	1.0	1050	$1,800	$1.71	5d	1	0.60mi
24 Cavalier Rd Hampton, VA	3.0	2.0	1014	$1,850	$1.82	5d	1	0.77mi
1568 N King St Hampton, VA	1.0–2.0	1.0	634	$1,425	$2.25	2d	17	0.80mi
1563 N King St Hampton, VA	2.0	2.0	1087	$1,612	$1.48	24d	2	0.85mi
1563 N King St Unit 105 Hampton, VA	2.0	2.0	1087	$1,675	$1.54	44d	1	0.86mi
105 Roland Dr Hampton, VA	2.0	1.0	750	$1,250	$1.67	15d	1	0.92mi
28 Monroe Dr Hampton, VA	3.0	1.0	1110	$1,600	$1.44	44d	1	0.94mi
1711 N King St Unit 18 Hampton, VA	2.0	1.0	815	$1,425	$1.75	44d	1	0.95mi
232 W Gilbert St Hampton, VA	1.0–2.0	1.0	767	$1,371	$1.79	2d	1	1.08mi
323 Roane Dr Hampton, VA	3.0	1.0	974	$1,495	$1.53	5d	1	1.23mi
19 Bernard Ave Hampton, VA	2.0	1.0	906	$995	$1.10	22d	1	1.28mi
1802 Moger Dr Hampton, VA	3.0	1.0	900	$1,700	$1.89	13d	1	1.29mi
633 Kings View Ct Hampton, VA	3.0	1.0	865	$1,700	$1.97	44d	1	1.32mi
2000 Neville Cir Hampton, VA	3.0	1.0	1100	$1,750	$1.59	44d	1	1.35mi
8 Rip Rap Rd Hampton, VA	2.0	1.0	1000	$1,200	$1.20	22d	1	1.41mi

Listing history 13 events

1. 2026-06-16
   statusdays on market $153,000 Under Contract 43 DOM
2. 2026-06-15
   days on market $153,000 Active 42 DOM
3. 2026-06-13
   days on market $153,000 Active 40 DOM
4. 2026-06-13
   days on market $153,000 Active 39 DOM
5. 2026-06-09
   days on market $153,000 Active 36 DOM
6. 2026-06-08
   days on market $153,000 Active 35 DOM
7. 2026-06-07
   days on market $153,000 Active 34 DOM
8. 2026-06-03
   days on market $153,000 Active 30 DOM
9. 2026-06-02
   days on market $153,000 Active 29 DOM
10. 2026-06-01
    days on market $153,000 Active 28 DOM
11. 2026-05-31
    days on market $153,000 Active 27 DOM
12. 2026-05-04
    listed $153,000 Active 369-char remark
13. 1966-03-01
    soldstatus $14,950

ⓘ 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: $2,461 · $205/mo
• Projected year-2 tax: $2,461 · $205/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 5/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 17 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,231
• − Mortgage interest: −$8,570
• − Property taxes: −$2,461
• − Insurance: −$765
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$4,451
• Taxable income: $747
• Est. tax owed @ 24.0%: −$179
• After-tax cash flow: $2,949/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

+923.4% since first listed

3 events — show timeline

• 2026-06-16 Pending — REINMLS
• 2026-05-04 Listed $153,000 REINMLS
• 1966-03-01 Sold (Public Records) $14,950 Public Records

Property tax history

+21.5%/yr

Latest (2025): $2,461 · +9.9% YoY. Source: county tax records.