715 Grove Ave · Chase City, VA 23924

$139,900

3 bd · 2.0 ba · 1,632 sqft · SingleFamily public records · 110 Days on market

Built 1950 10,018 sqft lot $86/sqft · at area comps Est $137k · at est.

---

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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +6.7/15.0
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 1950 Cape Cod offering 3 bedrooms, 2 bathrooms, and 1,632 sq. ft. of living space on a 0.23-acre lot in a quiet small-town neighborhood. This home is full of character and offers a great opportunity for buyers looking to add their own updates and personal touches. The eat-in kitchen features a vaulted ceiling and skylight. Updated vinyl windows provide improved efficiency, and the electric water heater was replaced approximately three years ago. Brand-new gutters with leaf guards help make exterior maintenance easier. Upstairs offers a flexible layout with a bedroom on one side and additional bonus space on the other, perfect for a hobby room or craft space. Outdoor features include a covered back deck, two elevated garden boxes, and a spacious backyard. A detached 21x21 outbuilding with electricity provides excellent workshop or storage space, and a 6x14 tool shed with electric service is attached to the covered carport. Great potential, bonus space, and workshop options. Schedule your showing today!

Key facts

• Finished attic
• Spacious backyard
• Covered back deck

Tags

• FINISHED ATTIC
• UPDATED VINYL WINDOWS
• NEWER ELECTRIC WATER HEATER
• BRAND-NEW GUTTERS
• COVERED BACK DECK
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 7.3% in Chase City — 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 (#238 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($967 loan paydown + $3k appreciation (2.0% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $9k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $140k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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: 1.29% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.17%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (median comp): $137,374
• List price: $139,900
• Delta: 1.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225 Boswell Ave	0.10mi	2/2.0 (-1)	1,501 (-8%)	18mo	$173,000	$115	62
953 N Main St	0.45mi	4/2.0 (+1)	1,854 (+14%)	10mo	$225,000	$121	43

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

Projected returns pro-forma

2.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 2.00×
• Total profit: $39,351
• Equity at exit: $55,480

10-year hold

• IRR: 20.8%
• Equity multiple: 3.75×
• Total profit: $107,906
• Equity at exit: $80,123

Cash invested: $39,172 (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 23924

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,809 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $462

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 69%

Sensitivity live

Price	-10% $559	-5% $511	+0% $462	+5% $414	+10% $366
Rent	-10% $319	-5% $391	+0% $462	+5% $534	+10% $605
Rate	-1.0pp $533	-0.5pp $498	base $462	+0.5pp $426	+1.0pp $389

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $139,900 Active 110 DOM
2. 2026-06-17
   days on market $139,900 Active 109 DOM
3. 2026-06-16
   days on market $139,900 Active 108 DOM
4. 2026-06-15
   days on market $139,900 Active 107 DOM
5. 2026-06-14
   days on market $139,900 Active 105 DOM
6. 2026-06-13
   days on market $139,900 Active 104 DOM
7. 2026-06-10
   days on market $139,900 Active 102 DOM
8. 2026-06-09
   days on market $139,900 Active 101 DOM
9. 2026-06-08
   days on market $139,900 Active 100 DOM
10. 2026-06-07
    days on market $139,900 Active 99 DOM
11. 2026-06-05
    days on market $139,900 Active 96 DOM
12. 2026-06-03
    days on market $139,900 Active 95 DOM
13. 2026-06-02
    days on market $139,900 Active 94 DOM
14. 2026-06-01
    days on market $139,900 Active 93 DOM
15. 2026-05-31
    days on market $139,900 Active 92 DOM
16. 2026-05-31
    days on market $139,900 Active 91 DOM
17. 2026-04-24
    price $139,900 1025-char remark

    Show marketing remark (1025 chars)

    Charming 1950 Cape Cod offering 3 bedrooms, 2 bathrooms, and 1,632 sq. ft. of living space on a 0.23-acre lot in a quiet small-town neighborhood. This home is full of character and offers a great opportunity for buyers looking to add their own updates and personal touches. The eat-in kitchen features a vaulted ceiling and skylight. Updated vinyl windows provide improved efficiency, and the electric water heater was replaced approximately three years ago. Brand-new gutters with leaf guards help make exterior maintenance easier. Upstairs offers a flexible layout with a bedroom on one side and additional bonus space on the other, perfect for a hobby room or craft space. Outdoor features include a covered back deck, two elevated garden boxes, and a spacious backyard. A detached 21x21 outbuilding with electricity provides excellent workshop or storage space, and a 6x14 tool shed with electric service is attached to the covered carport. Great potential, bonus space, and workshop options. Schedule your showing today!

18. 2026-02-28
    listed $149,000 Active 1025-char remark

    Show marketing remark (1025 chars)

    Charming 1950 Cape Cod offering 3 bedrooms, 2 bathrooms, and 1,632 sq. ft. of living space on a 0.23-acre lot in a quiet small-town neighborhood. This home is full of character and offers a great opportunity for buyers looking to add their own updates and personal touches. The eat-in kitchen features a vaulted ceiling and skylight. Updated vinyl windows provide improved efficiency, and the electric water heater was replaced approximately three years ago. Brand-new gutters with leaf guards help make exterior maintenance easier. Upstairs offers a flexible layout with a bedroom on one side and additional bonus space on the other, perfect for a hobby room or craft space. Outdoor features include a covered back deck, two elevated garden boxes, and a spacious backyard. A detached 21x21 outbuilding with electricity provides excellent workshop or storage space, and a 6x14 tool shed with electric service is attached to the covered carport. Great potential, bonus space, and workshop options. Schedule your showing today!

19. 2025-12-03
    price $149,900
20. 2025-10-25
    listed $153,000 Active
21. 2025-04-11
    price $159,000
22. 2025-03-17
    listed $169,000 Active
23. 2009-09-22
    historical
24. 2007-06-22
    soldstatus $55,000
25. 2005-12-07
    listed $140,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,710
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − Depreciation: −$4,070
• Taxable income: $3,532
• Est. tax owed @ 24.0%: −$848
• After-tax cash flow: $4,701/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: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Chase City

• Score: 70/100
• State rank: #238
• US rank: #8038

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chase City, VA
• Population (ZIP): 5,709

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 36% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.04%
• Current HPI: 155.5959
• 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

-0.1% since first listed

9 events — show timeline

• 2026-04-24 Price Changed $139,900 SPLLAR
• 2026-02-28 Listed $149,000 SPLLAR
• 2025-12-03 Price Changed $149,900 SPLLAR
• 2025-10-25 Listed $153,000 SPLLAR
• 2025-04-11 Price Changed $159,000 SPLLAR
• 2025-03-17 Listed $169,000 SPLLAR
• 2009-09-22 Listing Removed — CVRMLS
• 2007-06-22 Sold (Public Records) $55,000 Public Records
• 2005-12-07 Listed $140,000 CVRMLS

Property tax history

+2.6%/yr

Latest (2025): $273 · +0.0% YoY. Source: county tax records.