931 Myrtle Rd · Martinsville, VA 24112

$95,000

2 bd · 1.0 ba · 822 sqft · Other public records · 45 Days on market

Built 1947 0.45 ac lot $116/sqft · at area comps Est $100k · at est.

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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 +18.9/30.0
• ARV discount +9.7/15.0
• DSCR +5.9/10.0
• 1% rule +4.1/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2bed/1bath house. Beautiful, original hardwood floors. Roof and mini-splits installed in 2021. Large backyard with outbuilding. Perfect one-level living.

Key facts

• Private backyard
• 0.45 acre lot
• Built 1947

Tags

• PRIVATE BACKYARD
• OUTBUILDING FOR STORAGE

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Residential property
• Construction: Vinyl siding; Composition roof
• Exterior features: Level lot; Outbuilding

Interior

• Kitchen: Electric range; Electric water heater
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Window unit cooling; Ceiling fans
• Interior features: Storm windows; Partial unfinished basement
• Laundry & utility: Washer; Dryer; Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/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 $86k (9.0% below list).
• Recommended offer: $86k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 5.9% in Martinsville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#231 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools B; Watch: amenities F, commute F, employment D-.
• Martinsville City Public School District (town): math 29% / reading 53% proficiency, ranked #122 of 131 in VA (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 256 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5 units permitted in Martinsville city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Martinsville County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,453 (9.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1947 — 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. 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: 0.91% ✗
• Cap rate: 7.52%
• Cash-on-cash: 4.37%
• DSCR: 1.19
• GRM: 9.2

CMA / ARV

• ARV (median comp): $99,818
• List price: $95,000
• Delta: -4.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-9,251
• Equity at exit: $14,165

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-229
• Equity at exit: $8,214

Cash invested: $26,600 (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 24112

• Active inventory: 256
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $865 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$48 /mo · $579/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $97

Break-even live

Break-even rent $742

Max offer price $95,000

Occupancy floor 84%

Sensitivity live

Price	-10% $151	-5% $124	+0% $97	+5% $70	+10% $43
Rent	-10% $29	-5% $63	+0% $97	+5% $131	+10% $165
Rate	-1.0pp $145	-0.5pp $121	base $97	+0.5pp $72	+1.0pp $47

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
612 Church St E Apt 4 Martinsville, VA	1.0	1.0	750	$800	$1.07	44d	1	1.04mi
509 Monroe St Unit 6 Martinsville, VA	2.0	1.0	655	$875	$1.34	44d	1	1.44mi

Listing history 24 events

1. 2026-06-19
   days on market $95,000 Active 45 DOM
2. 2026-06-18
   days on market $95,000 Active 44 DOM
3. 2026-06-17
   days on market $95,000 Active 43 DOM
4. 2026-06-16
   days on market $95,000 Active 42 DOM
5. 2026-06-15
   days on market $95,000 Active 41 DOM
6. 2026-06-14
   pricedays on market $95,000 Active 39 DOM
7. 2026-06-12
   days on market $99,000 Active 38 DOM
8. 2026-06-09
   days on market $99,000 Active 35 DOM
9. 2026-06-08
   days on market $99,000 Active 34 DOM
10. 2026-06-07
    days on market $99,000 Active 33 DOM
11. 2026-06-02
    days on market $99,000 Active 28 DOM
12. 2026-06-01
    days on market $99,000 Active 27 DOM
13. 2026-05-31
    days on market $99,000 Active 26 DOM
14. 2026-05-30
    days on market $99,000 Active 25 DOM
15. 2026-05-17
    status Active 957-char remark
16. 2026-05-09
    historical Active Under Contract 957-char remark
17. 2026-05-05
    listed $100,000 Active 957-char remark
18. 2023-12-11
    soldstatus $85,900 Closed 162-char remark

    Show marketing remark (162 chars)

    Charming 2bed/1bath house. Beautiful, original hardwood floors. Roof and mini-splits installed in 2021. Large backyard with outbuilding. Perfect one-level living.

19. 2023-12-06
    soldstatus $85,000
20. 2023-11-01
    historical Active Under Contract 162-char remark

    Show marketing remark (162 chars)

    Charming 2bed/1bath house. Beautiful, original hardwood floors. Roof and mini-splits installed in 2021. Large backyard with outbuilding. Perfect one-level living.

21. 2023-09-08
    listed $99,500 Active 162-char remark

    Show marketing remark (162 chars)

    Charming 2bed/1bath house. Beautiful, original hardwood floors. Roof and mini-splits installed in 2021. Large backyard with outbuilding. Perfect one-level living.

22. 2002-08-05
    soldstatus $31,850
23. 2002-08-02
    soldstatus $31,850

    Show marketing remark (109 chars)

    Kitchen/den combo, a doll house, cozy, nice backyard. Vacant, show anytime. Lockbox after 2/28/02. KEY # 197

24. 2002-02-25
    listed $37,900

    Show marketing remark (109 chars)

    Kitchen/den combo, a doll house, cozy, nice backyard. Vacant, show anytime. Lockbox after 2/28/02. KEY # 197

ⓘ 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: $579 · $48/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: +$200/yr (+$17/mo · 34.5%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $10,374
• − Mortgage interest: −$5,321
• − Property taxes: −$579
• − Insurance: −$475
• − Repairs & maintenance: −$830
• − Management: −$830
• − Depreciation: −$2,764
• Taxable loss: −$425
• Est. tax savings @ 24.0%: +$102
• After-tax cash flow: $1,265/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: Martinsville City Public School District
• NCES district ID: 5102400
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 53% ▼ -14.00%
• Median HH income: $31,215
• Composite: 33.43/100
• National rank: #5467
• State rank: #122 of 131 in VA

Livability — Martinsville

• Score: 70/100
• State rank: #231
• US rank: #7826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinsville, VA
• County: Martinsville City · 31,028 people
• City population: 31,028
• Metro: Martinsville, VA
• Population (ZIP): 31,028
• Household income: $48,770
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 888.0

Population outlook (Martinsville County) Hauer SSP2

• Today (2025): 13,026 people
• By 2030: 12,673 · -2.7%
• By 2040: 11,933 · -8.4%
• By 2050: 11,136 · -14.5%
• By 2075: 9,886 · -24.1%
• By 2100: 8,334 · -36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Martinsville

• 2024 margin: Strong D (+22.6) · D 60.7% · R 38.1% · Other 1.2%
• 2008→2024 swing: -5.4pp toward R · 2008: 28.0pp · 2024: 22.6pp
• All cycles: 2024: D+22.6 2020: D+26.6 2016: D+23.5 2012: D+24.6 2008: D+28.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.37%
• Current HPI: 172.4393
• Rent YoY: —
• Metro: Martinsville, 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

+150.7% since first listed

12 events — show timeline

• 2026-06-13 Price Changed $95,000 MHPCAR
• 2026-05-22 Price Changed $99,000 MHPCAR
• 2026-05-17 Relisted — MHPCAR
• 2026-05-09 Contingent — MHPCAR
• 2026-05-05 Listed $100,000 MHPCAR
• 2023-12-11 Sold (MLS) $85,900 MHPCAR
• 2023-12-06 Sold (Public Records) $85,000 Public Records
• 2023-11-01 Contingent — MHPCAR
• 2023-09-08 Listed $99,500 MHPCAR
• 2002-08-05 Sold (Public Records) $31,850 Public Records
• 2002-08-02 Sold (MLS) $31,850 MHPCAR
• 2002-02-25 Listed $37,900 MHPCAR

Property tax history

+3.9%/yr

Latest (2025): $579 · +30.0% YoY. Source: county tax records.