1246 24th St · Newport News, VA 23607

$150,000

3 bd · 1.5 ba · 1,133 sqft · SingleFamily public records · 41 Days on market

Built 1925 2,613 sqft lot $132/sqft · 18% below area Est $184k · 18% 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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.4/10.0
• Appreciation +4.6/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

Calling all INVESTORS!! Property being sold "as is", "where is". Seller to make no repairs. Appliances convey "as is". Great property for flip or to hold for rental.

Key facts

• 2,613 sq ft lot
• Built 1925
• Listed 41 days

Property features AI

Finance

• HOA & community: No homeowners association; No HOA fees

Exterior

• Parking: Street parking
• Utilities: City/county water; City/county sewer; Gas water heater; Natural gas for heating; Window/wall air conditioning
• Home design: Detached traditional-style home; 2 stories; Slab foundation; Simple ownership
• Construction: Vinyl exterior; Asphalt shingle roof; Slab foundation
• Exterior features: Vinyl siding; Lot approximately 0.06 acres (100 x 25)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Master bedroom on 2nd floor; Two additional bedrooms on 2nd floor; No bedroom with ensuite; No bedroom and full bathroom on 1st floor
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Window/wall cooling
• Interior features: Carpet and vinyl flooring; 6 total rooms; City view

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.2% in Newport News — 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 (#123 in VA, #4,018 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime F, commute F.
• Newport News City Public School District (urban): math 34% / reading 54% proficiency, ranked #112 of 131 in VA (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carver Elementary (math 14% / reading 32%, grade F, #1,066 of 1,108 statewide, top 96%, 600 students, 90% FRL); Heritage High (math 49% / reading 67%, grade C, #262 of 319 statewide, top 82%, 1,111 students, 85% FRL) — zoned schools average 88% FRL vs 55% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.9%/yr); 128 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 522 units permitted in Newport News city in 2024 (458 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Newport News County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.8% appreciation + 2.9% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $120k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1925 — 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. Crime grade is F 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?
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: 1.04% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.16%
• DSCR: 1.32
• GRM: 8.0

CMA / ARV

• ARV (median comp): $183,750
• List price: $150,000
• Delta: -18.37%
• 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
1234 22nd St	0.10mi	3/1.0	1,100 (-3%)	1mo	$259,000	$235	88
1141 27th St	0.25mi	3/1.0	1,000 (-12%)	2mo	$85,000	$85	65
407 Pine Ave	0.63mi	3/2.0	1,160 (+2%)	1mo	$255,000	$220	64
2106 Chestnut Ave	0.20mi	4/3.0 (+1)	1,244 (+10%)	2mo	$295,000	$237	62
960 15th St	0.63mi	3/1.5	1,195 (+6%)	0mo	$137,000	$115	61
56 Poplar Ave	0.65mi	3/1.5	1,192 (+5%)	2mo	$210,000	$176	60
942 20th St	0.49mi	3/1.5	1,250 (+10%)	1mo	$180,000	$144	59
2010 Roanoke Ave	0.34mi	3/1.0	1,300 (+15%)	2mo	$180,000	$138	56
937 17th St	0.57mi	3/2.0	1,245 (+10%)	0mo	$252,500	$203	55
988 15th St	0.60mi	2/1.0 (-1)	1,061 (-6%)	1mo	$126,050	$119	53
848 31st St	0.67mi	3/1.0	1,045 (-8%)	1mo	$175,000	$167	53
3015 Wickham Ave	0.64mi	3/2.0	1,300 (+15%)	1mo	$252,000	$194	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.84% appreciation · 2.91% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.13×
• Total profit: $5,596
• Equity at exit: $37,360

10-year hold

• IRR: 9.2%
• Equity multiple: 1.91×
• Total profit: $38,152
• Equity at exit: $40,221

Cash invested: $42,000 (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 23607

• Home prices YoY: -0.3%
• Rents YoY: 2.9%
• Active inventory: 128
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,566 high
• Mortgage (P&I): −$787
• Tax from tax record: −$137 /mo · $1,648/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $251

Break-even live

Break-even rent $1,249

Max offer price $150,000

Occupancy floor 79%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1240 24th St Newport News, VA	2.0	1.0	752	$995	$1.32	23d	1	0.02mi
1239 24th St Newport News, VA	3.0	1.0	880	$1,495	$1.70	43d	1	0.04mi
2314 Chestnut Ave Newport News, VA	2.0	1.0	900	$12,900	$14.33	1d	1	0.10mi
1216 21st St Newport News, VA	3.0	3.5	1446	$1,700	$1.18	23d	1	0.20mi
1348 28th St Newport News, VA	2.0	1.0	997	$1,350	$1.35	4d	1	0.27mi
1348 28th St Unit NA Newport News, VA	2.0	1.0	997	$1,350	$1.35	23d	1	0.27mi
1035 23rd St Newport News, VA	3.0	2.0	1378	$1,600	$1.16	43d	1	0.33mi
1227 31st St Newport News, VA	3.0	2.0	1500	$2,495	$1.66	1d	1	0.39mi
41 Ash Ave Unit B Newport News, VA	2.0	1.0	930	$1,500	$1.61	23d	1	0.49mi
1124 33rd St Newport News, VA	3.0	1.5	1386	$1,600	$1.15	23d	1	0.51mi
35 Cedar Ave Newport News, VA	3.0	1.5	1138	$1,595	$1.40	43d	1	0.54mi
932 16th St Newport News, VA	2.0	1.0	754	$1,500	$1.99	43d	1	0.61mi
321 Pine Ave Newport News, VA	3.0	2.5	1349	$1,990	$1.48	23d	1	0.61mi
829 22nd St Newport News, VA	3.0	1.5	1020	$1,650	$1.62	43d	1	0.62mi
1152 Orcutt Ave Newport News, VA	3.0	1.0	947	$1,375	$1.45	4d	1	0.62mi
233 Pine Ave Newport News, VA	3.0	2.0	1213	$2,100	$1.73	23d	1	0.62mi
1010 36th St Newport News, VA	2.0	1.0	775	$1,095	$1.41	23d	1	0.72mi
1032 37th St Newport News, VA	3.0	2.0	1191	$1,450	$1.22	43d	1	0.74mi
740 21st St Newport News, VA	3.0	2.0	1120	$2,000	$1.79	43d	1	0.77mi
749 31st St Newport News, VA	3.0	2.0	1000	$1,900	$1.90	43d	1	0.83mi
935 37th St Unit 15 Newport News, VA	2.0	1.0	700	$995	$1.42	7d	1	0.86mi
935 37th St Unit 4 Newport News, VA	2.0	1.0	700	$900	$1.29	23d	1	0.86mi
935 37th St Unit 16 Newport News, VA	2.0	1.0	700	$995	$1.42	43d	1	0.86mi
327 Locust Ave Hampton, VA	4.0	2.0	1500	$2,000	$1.33	43d	1	0.94mi
3206 Madison Ave Newport News, VA	3.0	1.0	900	$1,550	$1.72	10d	1	0.95mi
709 33rd St Unit 1 Newport News, VA	2.0	1.0	878	$1,400	$1.59	17d	1	0.95mi
913 41st St Newport News, VA	2.0	1.5	740	$1,045	$1.41	23d	1	1.00mi
4111 Orcutt Ave Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	1.00mi
915 41st St Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	1.00mi
4104 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	43d	1	1.02mi
4104 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	1.02mi
417 Greenbriar Ave Hampton, VA	3.0	2.0	1007	$1,695	$1.68	7d	1	1.02mi
4101 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	1.03mi
4107 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	43d	1	1.04mi
4218 Newsome Dr Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	1.04mi
4200 Newsome Dr Newport News, VA	2.0	1.0	895	$795	$0.89	23d	1	1.05mi
4224 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	1.05mi
4226 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	1.05mi
4119 Newsome Dr Newport News, VA	2.0	1.0	740	$1,045	$1.41	23d	1	1.06mi
4241 Orcutt Ave Newport News, VA	2.0	1.0	740	$795	$1.07	3d	1	1.06mi

Listing history 22 events

1. 2026-06-18
   days on market $150,000 Active 41 DOM
2. 2026-06-17
   days on market $150,000 Active 40 DOM
3. 2026-06-16
   remarks 166-char remark
4. 2026-06-16
   pricedays on market $150,000 Active 39 DOM
5. 2026-06-15
   days on market $155,000 Active 38 DOM
6. 2026-06-09
   days on market $155,000 Active 32 DOM
7. 2026-06-08
   days on market $155,000 Active 31 DOM
8. 2026-06-07
   days on market $155,000 Active 30 DOM
9. 2026-06-03
   days on market $155,000 Active 26 DOM
10. 2026-06-02
    days on market $155,000 Active 25 DOM
11. 2026-06-01
    days on market $155,000 Active 24 DOM
12. 2026-05-31
    days on market $155,000 Active 23 DOM
13. 2026-05-08
    listed $155,000 Active 198-char remark
14. 2022-10-17
    soldstatus $120,000
15. 2022-09-26
    status Under Contract
16. 2022-09-12
    historical Active Under Contract
17. 2022-09-07
    status Active
18. 2022-08-25
    historical Active Under Contract
19. 2022-08-11
    listed $115,000 Active
20. 1992-11-20
    soldstatus $7,000
21. 1983-04-25
    soldstatus $28,000
22. 1975-07-01
    soldstatus $23,000

ⓘ 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: $1,648 · $137/mo
• Projected year-2 tax: $1,648 · $137/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) · 51% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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: $18,789
• − Mortgage interest: −$8,402
• − Property taxes: −$1,648
• − Insurance: −$750
• − Repairs & maintenance: −$1,503
• − Management: −$1,503
• − Depreciation: −$4,364
• Taxable income: $619
• Est. tax owed @ 24.0%: −$149
• After-tax cash flow: $2,858/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: Newport News City Public School District
• NCES district ID: 5102640
• Math proficiency: 34% ▼ -37.00%
• Reading proficiency: 54% ▼ -10.00%
• Median HH income: $49,644
• Composite: 37.7/100
• National rank: #4360
• State rank: #112 of 131 in VA

Livability — Newport News

• Score: 75/100
• State rank: #123
• US rank: #4018

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport News, VA
• County: Newport News City · 178,950 people
• City population: 178,950
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 23,096
• Household income: $42,334
• Rent vs Own: 69.5% rent · 30.5% own
• Severe rent burden: 2008.0

Population outlook (Newport News County) Hauer SSP2

• Today (2025): 181,076 people
• By 2030: 179,683 · -0.8%
• By 2040: 174,649 · -3.5%
• By 2050: 167,407 · -7.5%
• By 2075: 147,597 · -18.5%
• By 2100: 122,144 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (75%)
• Race & ethnicity: Black 75% White 13% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Newport News

• 2024 margin: Strong D (+28.8) · D 63.7% · R 34.9% · Other 1.4%
• 2008→2024 swing: +0.1pp no change · 2008: 28.7pp · 2024: 28.8pp
• All cycles: 2024: D+28.8 2020: D+32.9 2016: D+25.4 2012: D+30.0 2008: D+28.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.84%
• Current HPI: 312.4039
• Rent YoY: ▲ 2.91%
• 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

+552.2% since first listed

11 events — show timeline

• 2026-06-16 Price Changed $150,000 REINMLS
• 2026-05-08 Listed $155,000 REINMLS
• 2022-10-17 Sold (Public Records) $120,000 Public Records
• 2022-09-26 Pending — REINMLS
• 2022-09-12 Contingent — REINMLS
• 2022-09-07 Relisted — REINMLS
• 2022-08-25 Contingent — REINMLS
• 2022-08-11 Listed $115,000 REINMLS
• 1992-11-20 Sold (Public Records) $7,000 Public Records
• 1983-04-25 Sold (Public Records) $28,000 Public Records
• 1975-07-01 Sold (Public Records) $23,000 Public Records

Property tax history

+5.7%/yr

Latest (2026): $1,648 · +15.7% YoY. Source: county tax records.