Hampton Roads
Fix and flip calculator for Hampton Roads, Virginia Beach and Norfolk
Run a flip in Virginia Beach, Norfolk, Chesapeake, Portsmouth, Suffolk, Hampton or Newport News with Virginia closing costs already built in. The calculator above uses the same recordation tax, grantor tax and local property tax rates the full app uses, so your profit number starts from Virginia math, not a national average.
Projected net profit
-$17,300
-5.1% margin on ARV over 6 months
Cash needed
$78,860
Return on cash
-22%
Max offer
$194,500
$30k profit, 12% margin
70% rule
$183,000
Break-even ARV $359,842
Where every dollar goes
- Purchase
- $250,000
- Rehab with contingency
- $55,000
- Buy closing costs
- $5,131
- Loan points and fees
- $7,200
- Loan interest
- $12,879
- Taxes, insurance, utilities
- $3,650
- Selling costs
- $23,440
- Total cost
- $357,300
Planning defaults: hard money 11%, 2 points, $1,500 fees, 90% of price and 100% of rehab, interest on drawn funds; 5.5% commission and 1% concessions; state closing and transfer taxes. Not a quote.
Comps, rehab, refi and a verdict for a real address. Invite-only beta.
Virginia closing costs, as the app models them
Virginia charges recordation tax when a deed and a deed of trust are recorded. The app charges the buyer the state rate of 0.25% plus a local rate of one third of the state rate, about 0.0833%, for a combined 0.3333%. It applies that rate twice when you finance: once on the greater of the price or the assessed value for the deed, and once on the loan amount for the deed of trust. The seller pays grantor tax of 0.10%, which is $0.50 per $500 of price.
| Item | Who pays | Default |
|---|---|---|
| Recordation tax on the deed | Buyer | 0.3333% of the greater of price or assessed value |
| Recordation tax on the deed of trust | Buyer, financed only | 0.3333% of the loan amount |
| Lender title policy | Buyer, financed only | 0.45% of the loan amount |
| Settlement and fixed buy costs | Buyer | $1,800 |
| Inspection | Buyer | $500 |
| Grantor tax | Seller | 0.10% of the sale price |
| Fixed sell costs | Seller | $1,000 |
| Commission and concessions | Seller | 5.5% and 1% of the sale price |
| Refi recordation tax | Borrower | 0.3333% of the new loan |
- Recordation on the deed (0.3333% x $250,000)
- $833.33
- Recordation on the deed of trust (0.3333% x $225,000)
- $750.00
- Lender title (0.45% x $225,000)
- $1,012.50
- Fixed buy costs plus inspection
- $2,300.00
- Buy closing total
- $4,895.83
- Commission (5.5% x $340,000)
- $18,700.00
- Concessions (1% x $340,000)
- $3,400.00
- Grantor tax (0.10% x $340,000)
- $340.00
- Fixed sell costs
- $1,000.00
Planning figures. Confirm every line with your closing attorney or title company before you make an offer.
If you plan a BRRRR exit, remember that Virginia charges recordation tax again on the refinance. On a $240,000 cash-out loan the app adds $800 of recordation tax to the refi costs. Flat-recording states do not have that line. See the BRRRR calculator to run the refi side.
Property tax rates by city
Property tax is part of your carry costs every month you hold the house. These are the rates the app loads for each city, with the fiscal year they were last confirmed. Rates marked verify should be checked against the city's current budget before you rely on them.
| City | Rate on assessed value | As of | Status |
|---|---|---|---|
| Virginia Beach | 0.97% | FY2026 | Confirmed |
| Chesapeake | 1.01% | FY2026 | Confirmed |
| Norfolk | 1.25% | FY2024 | Last confirmed FY2024, verify |
| Portsmouth | 1.30% | FY2025 estimate | Verify |
| Suffolk | 1.07% | FY2025 estimate | Verify |
| Hampton | 1.18% | FY2025 estimate | Verify |
| Newport News | 1.20% | FY2025 estimate | Verify |
On a $250,000 assessment in Norfolk, 1.25% works out to about $260 a month. The same house in Virginia Beach at 0.97% is about $202 a month. On a six month flip that gap is small, but on a rental hold it adds up.
Rehab pricing and older housing stock
The app prices rehab by scope and region. Hampton Roads uses a regional multiplier of 1.0, so the base presets apply as is: about $20 a square foot for cosmetic work, $35 for light, $55 for medium, $90 for heavy and $125 for a gut. Homes built from 1950 to 1978 get a 1.05 age multiplier, and homes built before 1950 get 1.15.
Much of the region's older housing sits on crawlspaces, so the line item estimator includes crawlspace encapsulation (default $7,500, range $4,000 to $15,000) and termite treatment with wood repair (default $2,500). Price those before you trust a cosmetic budget. The rehab cost estimator and our guide on how to estimate rehab costs walk through it.
Wholesaling in Virginia
Virginia HB 917 took effect July 1, 2024. Under it, dealing in real estate contracts, including assignable contracts, on two or more occasions in 12 months for compensation is treated as brokerage and needs a license. The app flags this on wholesale deals in Virginia. This is not legal advice, so talk with a Virginia real estate attorney about your situation.
How to run a Hampton Roads deal in Run The Deal
- Pull comps with every adjustment visible, and get an ARV with a confidence range instead of one number. Our guide on how to calculate ARV explains the method.
- Build the rehab by scope or line by line, with Hampton Roads pricing and age multipliers applied.
- Let the app load Virginia recordation, grantor tax and your city's property tax rate.
- If you plan to hold, run a lender-accurate BRRRR refi with seasoning rules and Virginia refi recordation.
- Once you buy, track the budget, draws and schedule in project management.
Run The Deal is in an invite-only beta. Request early access to run full deals with comps and saved projects, or see all features.
Questions
Who pays recordation tax on a Virginia flip?
As the app models it, the buyer pays recordation tax on the deed and on the deed of trust, and the seller pays the 0.10% grantor tax. Contracts can shift costs, so confirm with your closing attorney or title company.
Why does the Norfolk tax rate say verify?
The Norfolk rate in the app was last confirmed for FY2024. Check the city's current adopted rate before you rely on it, and override it in the deal if it has changed.
Does the calculator include flood insurance?
If the property is in a FEMA high-risk flood zone and you have not entered a premium, the full app adds $125 a month as a placeholder. Replace it with a real quote.
Is the 70% rule enough for Hampton Roads?
It is a quick screen, not an offer. The app solves your max allowable offer from your ARV, rehab, Virginia closing costs and carry. Read our guide on the 70% rule for why it can mislead.
Planning figures from Run The Deal's defaults. Tax rates and fees change; confirm them with your closing attorney, title company or the locality. Not legal, tax or lending advice.
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