1904 Arlington Rd · Hopewell, VA 23860

$139,950

2 bd · 1.0 ba · 815 sqft · SingleFamily public records · 2 Days on market

Built 1951 0.26 ac lot $172/sqft · 20% below area Est $182k · 23% under

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Why this score? — see what drove the C- 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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Rent growth +4.7/5.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Property or First Time Homebuyer. 2 bedroom, living room, kitchen, additional bedroom that could be used as a dining area or 3rd bedroom and 1 full bathroom. Convenient Location: close to shopping and restaurants.

Key facts

• Newer flooring
• Dining access
• Major highway access

Tags

• NEWER WINDOWS
• NEWER FLOORING
• MILITARY BASE ACCESS
• SHOPPING ACCESS
• DINING ACCESS
• MAJOR HIGHWAY ACCESS

Property features AI

Exterior

• Parking: Driveway; Off-street paved parking; No garage
• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property
• Construction: Frame construction with drywall; Vinyl and wood siding; Composition shingle roof
• Exterior features: Front porch; Porch; Storage; Shed(s); Paved driveway

Interior

• Kitchen: Electric water heater (serves kitchen and home appliances)
• Bedrooms: Bedroom located on the first floor
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Baseboard electric heating; Central air conditioning
• Interior features: Bedroom on main level; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $66 ($787/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (13.7% below list).
• Recommended offer: $121k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Hopewell City Public School District (suburban): math 23% / reading 49% proficiency, ranked #129 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harry E. James Elementary (math 22% / reading 43%, grade F, #988 of 1,108 statewide, top 89%, 481 students, 98% FRL); Carter G. Woodson Middle (math 22% / reading 51%, grade F, #320 of 342 statewide, top 95%, 826 students, 102% FRL); Hopewell High (math 37% / reading 72%, grade C-, #281 of 319 statewide, top 90%, 1,136 students, 102% FRL) — zoned schools average 100% FRL vs 68% district-wide (33 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; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42 units permitted in Hopewell city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hopewell County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $42k; list at $140k implies a 229% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 42% 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 $120,798 (13.7% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.86% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 9.7

CMA / ARV

• ARV (median comp): $182,459
• List price: $139,950
• Delta: -19.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2808 Boston St	0.65mi	2/1.0	831 (+2%)	2mo	$199,999	$241	65
1808 Arlington Rd	0.15mi	2/2.0	864 (+6%)	23mo	$175,000	$203	60
2401 Waverly St	0.43mi	2/1.0	726 (-11%)	12mo	$172,800	$238	52
1501 Central Ave	0.50mi	3/2.0 (+1)	884 (+8%)	6mo	$205,999	$233	49
1207 Edgewood Blvd	0.74mi	2/1.0	780 (-4%)	12mo	$165,000	$212	48
2403 Trenton St	0.52mi	3/1.0 (+1)	879 (+8%)	13mo	$225,000	$256	47
2207 Raleigh St	0.38mi	3/1.0 (+1)	920 (+13%)	13mo	$205,000	$223	45
2708 Granby St	0.55mi	3/1.0 (+1)	912 (+12%)	9mo	$132,500	$145	42
1306 Central Ave	0.60mi	3/1.0 (+1)	884 (+8%)	18mo	$170,000	$192	38
1125 Delaware Ave	0.70mi	3/1.5 (+1)	831 (+2%)	24mo	$140,000	$168	38
1204 High Ave	0.58mi	3/2.0 (+1)	920 (+13%)	24mo	$180,000	$196	22

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: -8.1%
• Equity multiple: 0.69×
• Total profit: $-12,149
• Equity at exit: $20,867

10-year hold

• IRR: 6.7%
• Equity multiple: 1.61×
• Total profit: $23,731
• Equity at exit: $12,100

Cash invested: $39,186 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,208 high
• Mortgage (P&I): −$734
• Tax from tax record: −$97 /mo · $1,158/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $66

Break-even live

Break-even rent $1,125

Max offer price $139,950

Occupancy floor 90%

Sensitivity live

Price	-10% $145	-5% $105	+0% $66	+5% $26	+10% $-14
Rent	-10% $-30	-5% $18	+0% $66	+5% $113	+10% $161
Rate	-1.0pp $136	-0.5pp $101	base $66	+0.5pp $29	+1.0pp $-8

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: $34,988
• Closing costs: $4,198
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2002 Warren Ave Unit G Hopewell, VA	1.0	1.0	624	$899	$1.44	3d	1	0.24mi
1206 Tabb Ave Hopewell, VA	3.0	1.0	974	$1,470	$1.51	45d	1	0.56mi
2305 Poplar St Unit B Hopewell, VA	2.0	1.5	959	$1,050	$1.09	25d	1	0.96mi
708 Crestline Blvd Hopewell, VA	2.0	1.0	672	$841	$1.25	16d	1	0.97mi
3500 Oaklawn Blvd Hopewell, VA	3.0	1.0	1000	$1,650	$1.65	18d	1	1.06mi
3502 Oaklawn Blvd Hopewell, VA	3.0	1.0	1124	$1,850	$1.65	22d	1	1.06mi
600 Winston Churchill Dr Hopewell, VA	2.0	1.0	900	$1,075	$1.19	3d	1	1.07mi
507 Hill Ave Hopewell, VA	3.0	1.0	932	$1,395	$1.50	25d	1	1.18mi
800 Chestnut St Hopewell, VA	2.0	1.0	884	$1,395	$1.58	45d	1	1.21mi
3807 Woodlawn St Unit 8 Hopewell, VA	2.0	1.0	900	$1,095	$1.22	5d	1	1.36mi

Listing history 18 events

1. 2026-06-17
   status $139,950 Pending 2 DOM
2. 2026-06-17
   days on market $139,950 Active 2 DOM
3. 2026-06-16
   remarks 576-char remark
4. 2026-06-16
   pricedays on marketlisting id $139,950 Active 1 DOM
5. 2026-04-19
   price $147,500 328-char remark
6. 2026-03-27
   price $152,999 328-char remark
7. 2026-02-25
   price $154,999 328-char remark
8. 2026-01-23
   price $157,499 328-char remark
9. 2025-11-15
   price $159,999 328-char remark
10. 2025-10-31
    price $163,500 328-char remark
11. 2025-09-24
    listed $165,000 Active 328-char remark
12. 2020-02-24
    soldstatus $42,500 Closed 224-char remark

    Show marketing remark (224 chars)

    Investment Property or First Time Homebuyer. 2 bedroom, living room, kitchen, additional bedroom that could be used as a dining area or 3rd bedroom and 1 full bathroom. Convenient Location: close to shopping and restaurants.

13. 2020-02-19
    soldstatus $42,500
14. 2020-02-05
    status Pending 224-char remark

    Show marketing remark (224 chars)

    Investment Property or First Time Homebuyer. 2 bedroom, living room, kitchen, additional bedroom that could be used as a dining area or 3rd bedroom and 1 full bathroom. Convenient Location: close to shopping and restaurants.

15. 2020-01-21
    price $45,000 224-char remark

    Show marketing remark (224 chars)

    Investment Property or First Time Homebuyer. 2 bedroom, living room, kitchen, additional bedroom that could be used as a dining area or 3rd bedroom and 1 full bathroom. Convenient Location: close to shopping and restaurants.

16. 2019-10-16
    price $49,000 224-char remark

    Show marketing remark (224 chars)

    Investment Property or First Time Homebuyer. 2 bedroom, living room, kitchen, additional bedroom that could be used as a dining area or 3rd bedroom and 1 full bathroom. Convenient Location: close to shopping and restaurants.

17. 2019-10-01
    listed $55,000 Active 224-char remark

    Show marketing remark (224 chars)

    Investment Property or First Time Homebuyer. 2 bedroom, living room, kitchen, additional bedroom that could be used as a dining area or 3rd bedroom and 1 full bathroom. Convenient Location: close to shopping and restaurants.

18. 1991-02-19
    soldstatus $13,500

ⓘ 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: $1,158 · $97/mo
• Projected year-2 tax: $1,158 · $97/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% 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: $14,496
• − Mortgage interest: −$7,839
• − Property taxes: −$1,158
• − Insurance: −$700
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$4,071
• Taxable loss: −$1,592
• Est. tax savings @ 24.0%: +$382
• After-tax cash flow: $1,169/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: Hopewell City Public School District
• NCES district ID: 5101980
• Math proficiency: 23% ▼ -54.00%
• Reading proficiency: 49% ▼ -18.00%
• Median HH income: $38,234
• Composite: 29.95/100
• National rank: #6377
• State rank: #129 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

• Census place: Hopewell, VA
• 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 (Hopewell County) Hauer SSP2

• Today (2025): 21,776 people
• By 2030: 21,457 · -1.5%
• By 2040: 20,882 · -4.1%
• By 2050: 20,239 · -7.1%
• By 2075: 18,905 · -13.2%
• By 2100: 16,949 · -22.2%

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 · Hopewell

• 2024 margin: D (+13.8) · D 56.4% · R 42.6% · Other 1.0%
• 2008→2024 swing: +1.8pp toward D · 2008: 11.9pp · 2024: 13.8pp
• All cycles: 2024: D+13.8 2020: D+14.7 2016: D+9.3 2012: D+16.0 2008: D+11.9

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

+936.7% since first listed

18 events — show timeline

• 2026-06-17 Pending — CVRMLS
• 2026-06-16 Listed $139,950 CVRMLS
• 2026-06-15 Coming Soon $139,950 CVRMLS
• 2026-05-24 Listing Removed — CVRMLS
• 2026-04-19 Price Changed $147,500 CVRMLS
• 2026-03-27 Price Changed $152,999 CVRMLS
• 2026-02-25 Price Changed $154,999 CVRMLS
• 2026-01-23 Price Changed $157,499 CVRMLS
• 2025-11-15 Price Changed $159,999 CVRMLS
• 2025-10-31 Price Changed $163,500 CVRMLS
• 2025-09-24 Listed $165,000 CVRMLS
• 2020-02-24 Sold (MLS) $42,500 CVRMLS
• 2020-02-19 Sold (Public Records) $42,500 Public Records
• 2020-02-05 Pending — CVRMLS
• 2020-01-21 Price Changed $45,000 CVRMLS
• 2019-10-16 Price Changed $49,000 CVRMLS
• 2019-10-01 Listed $55,000 CVRMLS
• 1991-02-19 Sold (Public Records) $13,500 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,158 · +23.3% YoY. Source: county tax records.