504 Highland Ave · Hampton, VA 23661

$255,000

3 bd · 2.0 ba · 1,250 sqft · MultiFamily public records · 10 Days on market

Built 1941

---

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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

House hack opportunity in the heart of Hampton! Welcome to 504 Highland Avenue, a charming duplex full of potential just minutes from downtown Hampton, Langley Air Force Base, I-64, shopping, dining, and the waterfront. Built in 1941, this property blends character, flexibility, and opportunity all in one. Live comfortably in the spacious first-floor unit offering approximately 900 sq ft with 2 bedrooms and 1 bath while renting out the upstairs 1-bedroom, 1-bath unit for additional income. Both units are currently vacant, giving the next owner the chance to set market rents, offset their mortgage, or expand their investment portfolio. Whether you’re looking for your first home, a smart house hack, or a long-term rental property, this duplex offers endless potential in a growing Hampton market. Opportunities like this don’t come frequently!

Key facts

• Vacant units
• Investment portfolio
• Duplex

Tags

• DUPLEX
• HOUSE HACK OPPORTUNITY
• MINUTES FROM DOWNTOWN
• VACANT UNITS
• INVESTMENT PORTFOLIO
• GROWING HAMPTON MARKET

Property features AI

Finance

• Financial info: Unit 1 rent: $1,250 (year lease); Unit 2 rent: $1,000 (year lease)

Exterior

• Parking: Driveway; Street parking
• Utilities: Separate electric meters; City/County water; City/County sewer; Electric water heater
• Home design: Duplex; Over/Under style; Simple ownership; Entry level: Over/Under configuration
• Construction: Asphalt shingle roof; Crawl foundation
• Exterior features: Vinyl siding; Driveway and street parking (units 1 and 2)

Interior

• Kitchen: Unit 1: Dishwasher, Electric range, Refrigerator, Disposal; Unit 2: Electric range
• Bedrooms: Unit 1: 2 bedrooms (1st floor master); Unit 2: 1 bedroom
• Flooring: Carpet (units 1 and 3)
• Bathrooms: Unit 1: 1 bath; Unit 2: 1 bath
• Heating & cooling: Electric heating and heat pump (units 1 and 2); Central air with heat pump (units 1 and 2)
• Interior features: Window treatments
• Laundry & utility: Unit 1: Washer hookup, Dryer hookup, Utility room; Unit 2: Utility closet

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive. Per door: $446/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Cap rate 10.5% 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: Hunter B. Andrews (math 65% / reading 72%, grade B+, #357 of 1,108 statewide, top 33%, 1,131 students, 81% FRL); Hampton High (math 60% / reading 75%, grade B, #183 of 319 statewide, top 58%, 1,359 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 fast (+21.4%/yr); 124 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 68 units permitted in Hampton city in 2024 (0 in 5+ unit buildings).
• At $3,211/mo this rent would consume 59% of the median local household income ($65k/yr) (locally 704% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 $71k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $190k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $255,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 10.49%
• Cash-on-cash: 15.00%
• DSCR: 1.67
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.45×
• Total profit: $32,483
• Equity at exit: $38,021

10-year hold

• IRR: 23.5%
• Equity multiple: 3.50×
• Total profit: $178,638
• Equity at exit: $22,048

Cash invested: $71,400 (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 23661

• Home prices YoY: -16.7%
• Rents YoY: 21.4%
• Active inventory: 124
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $3,211 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$200 /mo · $2,405/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$674
• Net cashflow: $893

Break-even live

Break-even rent $2,081

Max offer price $255,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,037	-5% $965	+0% $893	+5% $821	+10% $748
Rent	-10% $639	-5% $766	+0% $893	+5% $1,020	+10% $1,146
Rate	-1.0pp $1,021	-0.5pp $958	base $893	+0.5pp $827	+1.0pp $759

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,210
Total (2 units)			$3,211

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 Highland Ave Hampton, VA	2.0	1.0	925	$1,500	$1.62	16d	1	0.06mi
534 Brightwood Ave Hampton, VA	3.0	3.0	1528	$2,095	$1.37	45d	1	0.20mi
708 Westwood Ave Hampton, VA	3.0	2.5	1300	$2,300	$1.77	16d	1	0.24mi
702 Rutherford St Hampton, VA	3.0	2.0	1445	$1,795	$1.24	25d	1	0.38mi
310 Lasalle Ave Hampton, VA	3.0	2.0	1858	$2,200	$1.18	45d	1	0.38mi
607 Lee St Hampton, VA	3.0	1.5	1404	$2,150	$1.53	45d	1	0.55mi
626 Chapel St Hampton, VA	4.0	2.0	1470	$1,900	$1.29	14d	1	0.61mi
3750 Kecoughtan Rd Hampton, VA	2.0	1.5	1300	$1,600	$1.23	45d	1	0.67mi
901 W Queen St Hampton, VA	2.0–3.0	1.5–2.5	1096	$1,600	$1.46	45d	1	0.71mi
448 Chapel St Hampton, VA	3.0	2.0	1425	$1,850	$1.30	4d	1	0.74mi
1625 W Pembroke Ave Hampton, VA	2.0	1.5	950	$1,250	$1.32	25d	1	0.78mi
1625 W Pembroke Ave Unit 7 Hampton, VA	2.0	1.5	950	$1,250	$1.32	45d	1	0.79mi
63 Algonquin Rd Hampton, VA	2.0	1.0	1100	$1,495	$1.36	45d	1	0.87mi
236 Pocahontas Pl Hampton, VA	2.0	1.0	1262	$1,795	$1.42	3d	1	1.08mi
640 Rolfe St Hampton, VA	3.0	2.0	1100	$2,000	$1.82	45d	1	1.10mi
130 Pocahontas Pl Hampton, VA	3.0	1.0	1415	$1,695	$1.20	45d	1	1.14mi
27 Capps Qtrs #1 Hampton, VA	3.0	2.5	1734	$2,200	$1.27	45d	1	1.23mi
101 Prince James Dr Hampton, VA	3.0	1.0	1766	$1,645	$0.93	16d	1	1.23mi
2113 Victoria Blvd Hampton, VA	3.0	1.0	1005	$1,595	$1.59	45d	1	1.28mi
100 Chesterfield Rd Hampton, VA	3.0	1.5	1742	$2,200	$1.26	5d	1	1.28mi
1943 Kecoughtan Rd Hampton, VA	2.0	1.0	900	$1,150	$1.28	5d	1	1.38mi
1943 Kecoughtan Rd Unit G Hampton, VA	2.0	1.0	900	$1,150	$1.28	13d	1	1.38mi
316 Fountain Way Hampton, VA	3.0	2.5	1850	$2,600	$1.41	18d	1	1.40mi
613 Delaware Ave Hampton, VA	3.0	2.0	1082	$1,900	$1.76	4d	1	1.41mi
624 Pennsylvania Ave Hampton, VA	3.0	1.0	912	$1,600	$1.75	25d	1	1.42mi
600 Freeman Dr Hampton, VA	1.0–2.0	1.0–2.0	892	$2,008	$2.25	3d	8	1.49mi

Listing history 6 events

1. 2026-06-08
   statusdays on market $255,000 Under Contract 10 DOM
2. 2026-06-07
   days on market $255,000 Active 9 DOM
3. 2026-06-03
   days on market $255,000 Active 5 DOM
4. 2026-06-02
   days on market $255,000 Active 4 DOM
5. 2026-06-01
   days on market $255,000 Active 3 DOM
6. 2026-05-31
   days on market $255,000 Active 2 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: $2,405 · $200/mo
• Projected year-2 tax: $2,405 · $200/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 3/10 Moderate FEMA zone X (unshaded) · 12% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,532
• − Mortgage interest: −$14,284
• − Property taxes: −$2,405
• − Insurance: −$1,275
• − Repairs & maintenance: −$3,083
• − Management: −$3,083
• − Depreciation: −$7,418
• Taxable income: $6,984
• Est. tax owed @ 24.0%: −$1,676
• After-tax cash flow: $9,037/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): 14,005
• Household income: $65,446
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 704.0

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 0.56)
• Race & ethnicity: Black 59% White 31% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Serbian 2% Italian 2% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Arabic 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: ▼ -54.95%
• Current HPI: 274.2769
• Rent YoY: ▲ 21.35%
• 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

+240.0% since first listed

16 events — show timeline

• 2026-05-29 Listed $255,000 WMLS
• 2026-05-21 Listed $255,000 REINMLS
• 2022-03-15 Sold (Public Records) $190,000 Public Records
• 2022-03-02 Pending — REINMLS
• 2022-02-28 Listed $199,900 REINMLS
• 2021-05-27 Pending — REINMLS
• 2021-05-27 Relisted — REINMLS
• 2021-05-27 Listing Removed — REINMLS
• 2021-05-17 Listing Removed — REINMLS
• 2021-05-10 Contingent — REINMLS
• 2021-05-03 Price Changed $159,900 REINMLS
• 2021-04-26 Price Changed $164,500 REINMLS
• 2021-04-22 Price Changed $174,500 REINMLS
• 2021-04-16 Listed $184,500 REINMLS
• 2006-06-07 Sold (Public Records) $153,000 Public Records
• 2005-07-13 Sold (Public Records) $75,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $2,405 · +8.4% YoY. Source: county tax records.