2112 Edwards Ave · Richmond, VA 23224

$235,000

3 bd · 2.5 ba · 1,487 sqft · SingleFamily · 1 Days on market

Built 2026 Good condition 3,598 sqft lot Est $280k · 16% under

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Why this score? — see what drove the D+ 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).

• ARV discount +14.7/15.0
• Cash flow +12.2/30.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +3.6/5.0
• 1% rule +3.5/10.0
• Schools +3.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy this gorgeously constructed 3 bedroom, 2.5 bath home featuring 1,487 SF with a 1st floor primary suite, nice open living space and boasting 2 nice sized covered porches for great outdoor living! Loaded with upgrades and features some include hardwoods throughout, recessed lights, tiled bathrooms and more! Walk onto a full covered front porch featuring Trex Decking overlooking the tree lined street. Spacious living room with sight line into the kitchen and out onto the covered side porch features hardwoods and recessed lights! Nice sized kitchen with classic white shaker style cabinets, SS Appliances, hardwoods and loads of storage space. Spacious 1st floor primary with hardwoods and o

Key facts

• Trex decking
• Ss appliances
• Tiled bathrooms

Tags

• 1ST FLOOR PRIMARY SUITE
• FULL COVERED FRONT PORCH
• TREX DECKING
• HARDWOODS THROUGHOUT
• TILED BATHROOMS
• SS APPLIANCES

Property features AI

Finance

• HOA & community: Community features include curbs, gutters, street lights and sidewalks

Exterior

• Parking: Driveway parking; Off-street and on-street parking (unpaved)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service
• Home design: Two-story property; New construction; Composition/shingle roof; Frame construction with HardiPlank-type siding and drywall
• Construction: Built as new construction; Frame construction; HardiPlank-type siding; Shingle roof
• Exterior features: Front and rear porches; Porch; Unpaved driveway; Level, landscaped lot; Curbs, gutters, sidewalks, and street lights in the community

Interior

• Kitchen: Dishwasher; Electric range / smooth cooktop; Self-cleaning oven; Microwave; Refrigerator; Freezer; Disposal; Kitchen island; Pantry; Laminate counters
• Bedrooms: Bedroom(s) on main and second levels
• Flooring: Ceramic tile; Wood
• Bathrooms: Two full bathrooms (tub & shower); One half bathroom
• Heating & cooling: Electric heating with heat pump; Central air conditioning
• Interior features: Bedroom on main level; Ceiling fan(s); Dining area; Eat-in kitchen; High ceilings; Kitchen island; Laminate counters; Primary bedroom with private bath; Main-level primary bedroom; Pantry; Recessed lighting; Cable TV; Walk-in closet(s)
• Laundry & utility: Washer hookup; Dryer hookup; Stacked laundry capability; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-48 ($-578/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (15.1% below list).
• Recommended offer: $199k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.2% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Richmond City Public School District (urban): math 32% / reading 47% proficiency, ranked #123 of 131 in VA (top 94%) — 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.
• Zoned schools: Broad Rock Elementary (math 5% / reading 24%, grade F, #1,098 of 1,108 statewide, top 100%, 634 students, 99% FRL); Thomas C. Boushall Middle (math 12% / reading 27%, grade F, #340 of 342 statewide, top 99%, 611 students, 98% FRL); George Wythe High (math 12% / reading 37%, grade F, #319 of 319 statewide, top 100%, 1,309 students, 91% FRL) — zoned schools average 96% FRL vs 74% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 40% district-wide (-20 pts) — the specific schools serving this property underperform the Richmond City Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.5%/yr); 177 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• At $1,995/mo this rent would consume 47% of the median local household income ($50k/yr) (locally 3584% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Richmond County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $199,472 (15.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. Crime grade is D 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $279,556
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2019 Dinwiddie Ave	0.10mi	3/2.5	1,490 (+0%)	1mo	$340,000	$228	94
1813 Fairfax Ave	0.12mi	3/2.5	1,522 (+2%)	1mo	$355,000	$233	90
1800 Maury St	0.34mi	3/2.5	1,487 (0%)	1mo	$285,000	$192	83
2103 Halifax Ave	0.18mi	3/2.0	1,354 (-9%)	0mo	$327,500	$242	74
2004 Ingram Ave	0.29mi	4/2.0 (+1)	1,554 (+4%)	1mo	$280,100	$180	72
2118 Chicago Ave	0.13mi	3/2.5	1,678 (+13%)	2mo	$305,000	$182	71
1835 Keswick Ave	0.39mi	3/2.0	1,568 (+5%)	2mo	$185,000	$118	69
1602 Decatur St	0.58mi	2/2.0 (-1)	1,491 (+0%)	2mo	$324,500	$218	64
1912 Chicago Ave	0.16mi	3/1.0	1,280 (-14%)	2mo	$150,000	$117	61
2504 Harwood St	0.43mi	3/1.0	1,376 (-8%)	1mo	$259,000	$188	61
1500 Columbia St	0.62mi	4/2.0 (+1)	1,344 (-10%)	1mo	$175,000	$130	47
113 E 18th St	0.53mi	4/2.0 (+1)	1,680 (+13%)	3mo	$210,000	$125	44

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 · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.42×
• Total profit: $-37,961
• Equity at exit: $35,039

10-year hold

• IRR: -5.1%
• Equity multiple: 0.64×
• Total profit: $-23,508
• Equity at exit: $20,319

Cash invested: $65,800 (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 23224

• Rents YoY: 4.5%
• Active inventory: 177
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,995 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-48

Break-even live

Break-even rent $2,056

Max offer price $228,025

Occupancy floor 97%

Sensitivity live

Price	-10% $114	-5% $33	+0% $-48	+5% $-129	+10% $-211
Rent	-10% $-206	-5% $-127	+0% $-48	+5% $31	+10% $109
Rate	-1.0pp $70	-0.5pp $12	base $-48	+0.5pp $-109	+1.0pp $-171

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1808 Edwards Ave Richmond, VA	3.0	2.0	1040	$1,750	$1.68	25d	1	0.14mi
1913 Dinwiddie Ave Unit 1546196P Richmond, VA	2.0	1.0	1044	$2,519	$2.41	16d	1	0.15mi
800 Richmond Hwy Richmond, VA	1.0–2.0	1.0–2.0	778	$2,044	$2.63	45d	1	0.16mi
2200 Ingram Ave Richmond, VA	2.0	1.0–2.0	711	$1,668	$2.35	6d	1	0.29mi
2010 Maury St Richmond, VA	2.0	1.0	883	$1,675	$1.90	6d	1	0.31mi
1100 Richmond Hwy Richmond, VA	1.0–3.0	1.0–2.0	1062	$2,345	$2.21	3d	16	0.32mi
1112 E 16th St Richmond, VA	4.0	1.0	1206	$1,595	$1.32	45d	1	0.37mi
2208 Keswick Ave Richmond, VA	3.0	1.0	916	$1,775	$1.94	22d	1	0.40mi
1719 Everett St Richmond, VA	3.0	2.5	1748	$2,255	$1.29	45d	1	0.45mi
1709 Everett St Richmond, VA	4.0	1.5	1460	$1,995	$1.37	45d	1	0.46mi
1305 Chambers St Richmond, VA	2.0	1.0	966	$1,100	$1.14	25d	1	0.51mi
1410 Enfield Ave Unit 1410 Richmond, VA	3.0	1.0	912	$1,500	$1.64	45d	1	0.57mi
107 E 16th St Richmond, VA	4.0	2.5	1608	$2,350	$1.46	12d	1	0.58mi
116 E 15th St Richmond, VA	4.0	2.0	1452	$2,250	$1.55	25d	1	0.61mi
1422 Bainbridge St Richmond, VA	2.0	2.0	1121	$2,399	$2.14	4d	1	0.77mi
1912 Porter St Richmond, VA	3.0	1.5	1415	$1,950	$1.38	25d	1	0.77mi
10 W 27th St Unit P P Richmond, VA	2.0	1.0	975	$1,300	$1.33	45d	1	0.79mi
1529 Porter St Unit A Richmond, VA	3.0	2.5	1711	$2,400	$1.40	25d	1	0.83mi
201 Cowardin Ave Unit B Richmond, VA	2.0	2.5	1436	$2,200	$1.53	45d	1	0.83mi
2522 Porter St Richmond, VA	3.0	2.5	1390	$1,800	$1.29	45d	1	0.87mi
1411 Porter St Unit B Richmond, VA	3.0	3.0	1500	$2,145	$1.43	6d	1	0.88mi
700 Everett St Richmond, VA	1.0–2.0	1.0–2.0	809	$1,849	$2.28	6d	14	0.88mi
1207 Bainbridge St Richmond, VA	2.0	2.0	937	$2,250	$2.40	13d	1	0.88mi
1203 Bainbridge St Apt A Richmond, VA	2.0	2.0	927	$1,495	$1.61	45d	1	0.89mi
1212 Porter St Unit B Richmond, VA	3.0	2.5	1837	$2,300	$1.25	45d	1	0.91mi
700 Stockton St Richmond, VA	1.0–2.0	1.0	1035	$1,805	$1.74	3d	31	0.91mi
1212 Porter St Apt A Richmond, VA	2.0	2.0	980	$1,995	$2.04	6d	1	0.92mi
1211 Porter St Richmond, VA	3.0	3.0	1571	$2,495	$1.59	21d	1	0.94mi
1021 E 4th St Richmond, VA	1.0–2.0	1.0–2.0	759	$1,449	$1.91	3d	87	0.96mi
500 Maury St Richmond, VA	2.0	1.0–2.0	665	$2,295	$3.45	5d	17	0.99mi
1429 McDonough St Richmond, VA	1.0–3.0	1.0–2.0	826	$2,469	$2.99	3d	15	1.00mi
907 Bainbridge St Unit A Richmond, VA	2.0	2.0	927	$1,995	$2.15	45d	1	1.00mi
500 Stockton St Richmond, VA	1.0–2.0	1.0–2.0	748	$1,346	$1.80	5d	16	1.01mi
3154 Stockton St Richmond, VA	3.0	1.0	1169	$1,600	$1.37	45d	1	1.02mi
616 Hull St Richmond, VA	1.0–2.0	1.0–2.0	756	$1,495	$1.98	6d	5	1.04mi
15 W 7th St Richmond, VA	1.0–3.0	1.0–2.5	881	$3,031	$3.44	3d	6	1.07mi
403 Stockton St Richmond, VA	1.0–3.0	1.0–2.0	882	$2,140	$2.42	5d	22	1.10mi
84 W 6th St Richmond, VA	3.0	2.0	1493	$2,715	$1.82	5d	1	1.12mi
2100 Wright Ave Richmond, VA	3.0	1.0	1014	$1,695	$1.67	3d	1	1.12mi
2708 Semmes Ave Unit A Richmond, VA	2.0	1.0	1050	$1,275	$1.21	45d	1	1.13mi

Listing history 2 events

1. 2026-05-28
   status Pending
2. 2026-05-27
   listed $235,000 Active

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,937
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$6,836
• Taxable loss: −$4,593
• Est. tax savings @ 24.0%: +$1,102
• After-tax cash flow: $524/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 3-bedroom, 2.5-bath home is in excellent condition with modern updates and a great curb appeal. It's move-in ready and would benefit from some minor aesthetic improvements to maximize its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more potential buyers
• Both Add smart home features — Modernizes the home and can increase its value
• Rental Install smart thermostat — Can reduce energy costs and attract renters
• Both Add smart lighting — Can reduce energy costs and enhance home's curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more potential buyers ↑
• Both Add smart home features — Modernizes the home and can increase its value ↑
• Rental Install smart thermostat — Can reduce energy costs and attract renters ↑
• Both Add smart lighting — Can reduce energy costs and enhance home's curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Richmond City Public School District
• NCES district ID: 5103240
• Math proficiency: 32% ▼ -24.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $40,276
• Composite: 33.09/100
• National rank: #5564
• State rank: #123 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, VA
• County: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 40,575
• Household income: $50,475
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3584.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 262,263 people
• By 2030: 284,503 · +8.5%
• By 2040: 327,353 · +24.8%
• By 2050: 367,946 · +40.3%
• By 2075: 449,560 · +71.4%
• By 2100: 500,301 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 22% White 15% Two or more races 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 17% · Canada
• Languages at home: 78% English-only · Spanish 19% French/Haitian/Cajun 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+66.3) · D 82.0% · R 15.8% · Other 2.2%
• 2008→2024 swing: +7.2pp toward D · 2008: 59.1pp · 2024: 66.3pp
• All cycles: 2024: D+66.3 2020: D+68.0 2016: D+63.8 2012: D+55.7 2008: D+59.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -283.99%
• Current HPI: 336.9345
• Rent YoY: ▲ 4.55%
• Metro: Richmond, 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

2 events — show timeline

• 2026-05-28 Pending — CVRMLS
• 2026-05-27 Listed $235,000 CVRMLS