219 Cobb St · Franklin, VA 23851

$190,000

4 bd · 3.0 ba · 1,520 sqft · SingleFamily public records · 177 Days on market

Built 1949 8,755 sqft lot $125/sqft · 16% below area Est $226k · 16% under ↓ 8% since listing

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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 +18.1/30.0
• ARV discount +14.6/15.0
• DSCR +5.7/10.0
• 1% rule +4.0/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss your chance to own this spacious 4 bedroom, 3 bath home. Perfect for first time home buyers or a family downsizing. Motivated seller!

Key facts

• 8,755 sq ft lot
• Built 1949
• Listed 176 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/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 $171k (10.2% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.7% in Franklin — 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 59/100 on livability (#461 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Franklin City Public School District (town): math 23% / reading 51% proficiency, ranked #127 of 131 in VA (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Franklin County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% 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 $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• GRM: 9.3

CMA / ARV

• ARV (median comp): $225,665
• List price: $190,000
• Delta: -15.80%
• 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
416 Cobb St	0.13mi	4/2.0	1,433 (-6%)	3mo	$100,000	$70	78
316 S College Dr	0.18mi	3/2.0 (-1)	1,578 (+4%)	4mo	$80,000	$51	72
408 Hogart St	0.29mi	4/2.5	1,440 (-5%)	10mo	$229,999	$160	68
107 Britt St	0.26mi	3/2.5 (-1)	1,655 (+9%)	7mo	$275,000	$166	60
302 Artis St	0.39mi	3/2.0 (-1)	1,462 (-4%)	11mo	$219,000	$150	58
124 Holland Cir	0.43mi	4/2.0	1,400 (-8%)	10mo	$227,000	$162	55
504 Campbell Ave	0.49mi	3/1.5 (-1)	1,643 (+8%)	1mo	$240,000	$146	52
222 Hall St	0.53mi	5/2.0 (+1)	1,618 (+6%)	6mo	$238,000	$147	51
200 Delk St	0.32mi	3/2.0 (-1)	1,300 (-14%)	4mo	$114,900	$88	49
650 Hayden Dr	0.43mi	3/1.0 (-1)	1,321 (-13%)	2mo	$140,000	$106	43
309 Edwards St	0.62mi	3/1.5 (-1)	1,360 (-10%)	6mo	$80,000	$59	38
2310 South St	0.59mi	3/2.5 (-1)	1,728 (+14%)	8mo	$218,000	$126	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-20,166
• Equity at exit: $28,330

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-4,037
• Equity at exit: $16,428

Cash invested: $53,200 (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 23851

• Home prices YoY: -10.2%
• Active inventory: 137
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,706 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$105 /mo · $1,255/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $168

Break-even live

Break-even rent $1,494

Max offer price $190,000

Occupancy floor 85%

Sensitivity live

Price	-10% $275	-5% $221	+0% $168	+5% $114	+10% $60
Rent	-10% $33	-5% $100	+0% $168	+5% $235	+10% $302
Rate	-1.0pp $263	-0.5pp $216	base $168	+0.5pp $118	+1.0pp $68

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Holland Cir Franklin, VA	3.0	1.0	1056	$1,800	$1.70	44d	1	0.39mi
2300 South St Unit 1 Franklin, VA	3.0	1.0	1350	$1,600	$1.19	44d	1	0.56mi

Listing history 8 events

1. 2026-06-05
   days on market $190,000 Active 177 DOM
2. 2026-06-03
   days on market $190,000 Active 175 DOM
3. 2026-06-02
   days on market $190,000 Active 174 DOM
4. 2026-06-01
   days on market $190,000 Active 173 DOM
5. 2026-05-31
   days on market $190,000 Active 172 DOM
6. 2026-04-09
   price $190,000 144-char remark

   Show marketing remark (144 chars)

   Don't miss your chance to own this spacious 4 bedroom, 3 bath home. Perfect for first time home buyers or a family downsizing. Motivated seller!

7. 2026-02-17
   price $195,000 144-char remark

   Show marketing remark (144 chars)

   Don't miss your chance to own this spacious 4 bedroom, 3 bath home. Perfect for first time home buyers or a family downsizing. Motivated seller!

8. 2025-12-09
   listed $205,999 Active 144-char remark

   Show marketing remark (144 chars)

   Don't miss your chance to own this spacious 4 bedroom, 3 bath home. Perfect for first time home buyers or a family downsizing. Motivated seller!

ⓘ 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: $1,255 · $105/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$303/yr (+$25/mo · 24.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,472
• − Mortgage interest: −$10,643
• − Property taxes: −$1,255
• − Insurance: −$950
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$5,527
• Taxable loss: −$1,178
• Est. tax savings @ 24.0%: +$283
• After-tax cash flow: $2,295/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: Franklin City Public School District
• NCES district ID: 5101410
• Math proficiency: 23% ▼ -48.00%
• Reading proficiency: 51% ▼ -18.00%
• Median HH income: $35,138
• Composite: 30.47/100
• National rank: #6227
• State rank: #127 of 131 in VA

Livability — Franklin

• Score: 59/100
• State rank: #461
• US rank: #19645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, VA
• Population (ZIP): 13,481

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 7,817 people
• By 2030: 7,480 · -4.3%
• By 2040: 6,803 · -13.0%
• By 2050: 6,124 · -21.7%
• By 2075: 4,484 · -42.6%
• By 2100: 2,967 · -62.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 45% White 44% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: -5.3pp toward R · 2008: 28.1pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+25.6 2016: D+27.1 2012: D+30.7 2008: D+28.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.51%
• Current HPI: 293.564
• Rent YoY: —
• Metro: —
• 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

-7.8% since first listed

3 events — show timeline

• 2026-04-09 Price Changed $190,000 REINMLS
• 2026-02-17 Price Changed $195,000 REINMLS
• 2025-12-09 Listed $205,999 REINMLS

Property tax history

+2.6%/yr

Latest (2025): $1,255 · +0.0% YoY. Source: county tax records.