129 Newbern Rd · Dublin, VA 24084

$174,900

4 bd · 2.0 ba · 1,704 sqft · SingleFamily · 65 Days on market

Built 1940 0.28 ac lot Est $233k · 25% under

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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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• Schools +4.6/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent Investment Opportunity – Income-Producing Duplex in the Town of Dublin! This well-maintained commercial duplex offers a fantastic opportunity for investors seeking steady rental income. Featuring an up-and-down layout, the property includes two separate units: a spacious 3-bedroom, 1-bath apartment on the lower level and a comfortable 2-bedroom, 1-bath apartment on the upper level—ideal for maximizing rental potential. The exterior is constructed of durable cinderblock with a shingle roof, providing low-maintenance ownership and long-term reliability. Each unit is equipped with forced air heating, while window units provide cooling for seasonal comfort. Utilities are efficiently set up with separate electric meters for each unit, and public water and sewer services are provided by the Town of Dublin. Outside, tenants will appreciate the convenience of a gravel driveway and dedicated gravel parking area, offering ample off-street parking. Currently generating $1,700 per month in rental income, this duplex presents a solid return opportunity with room for future growth. Roof is 4-5 years old. Whether you're expanding your portfolio or entering the investment market, this property checks all the boxes!

Key facts

• Forced air heating
• Shingle roof
• Up and down layout

Tags

• INCOME PRODUCING DUPLEX
• UP AND DOWN LAYOUT
• SEPARATE UNITS
• CINDERBLOCK CONSTRUCTION
• SHINGLE ROOF
• FORCED AIR HEATING

🏷️ Possibly a rental listed for sale. The $174,900 price doesn't fit this home's estimated sale value (~$233,448) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $191 ($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 $155k (11.4% below list).
• Recommended offer: $155k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.1% in Dublin — 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 69/100 on livability (#251 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Pulaski County Public School District (rural): math 48% / reading 61% proficiency, ranked #86 of 131 in VA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 39 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Pulaski County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $175k implies a 289% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,000 (11.4% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 0.89% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.68%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $233,448
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Dunbar Ave	0.17mi	4/2.0	1,758 (+3%)	9mo	$224,900	$128	79
334 Dunbar Ave	0.22mi	3/1.0 (-1)	1,668 (-2%)	1mo	$230,000	$138	76
116 5th St	0.51mi	4/2.0	1,715 (+1%)	10mo	$225,000	$131	67
5501 Shepard Dr	0.61mi	4/2.0	1,633 (-4%)	21mo	$198,000	$121	47
5651 Pine Grove Dr	0.65mi	3/2.0 (-1)	1,620 (-5%)	14mo	$269,900	$167	45
331 Roseberry St	0.49mi	3/2.0 (-1)	1,457 (-14%)	6mo	$270,000	$185	43
509 Free St	0.52mi	3/1.0 (-1)	1,807 (+6%)	20mo	$208,000	$115	40
213 Zeigler Ave	0.61mi	3/1.0 (-1)	1,550 (-9%)	19mo	$212,000	$137	32

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-16,267
• Equity at exit: $26,078

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,148
• Equity at exit: $15,122

Cash invested: $48,972 (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 24084

• Home prices YoY: -34.4%
• Active inventory: 94
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$44 /mo · $522/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $191

Break-even live

Break-even rent $1,308

Max offer price $174,900

Occupancy floor 83%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
428 Maple St Dublin, VA	4.0	1.0	1116	$1,550	$1.39	43d	1	0.61mi

Listing history 23 events

1. 2026-06-19
   days on market $174,900 Active 65 DOM
2. 2026-06-18
   days on market $174,900 Active 64 DOM
3. 2026-06-17
   days on market $174,900 Active 63 DOM
4. 2026-06-16
   days on market $174,900 Active 62 DOM
5. 2026-06-15
   days on market $174,900 Active 61 DOM
6. 2026-06-14
   days on market $174,900 Active 59 DOM
7. 2026-06-13
   days on market $174,900 Active 58 DOM
8. 2026-06-10
   days on market $174,900 Active 56 DOM
9. 2026-06-09
   days on market $174,900 Active 55 DOM
10. 2026-06-08
    days on market $174,900 Active 54 DOM
11. 2026-06-07
    days on market $174,900 Active 53 DOM
12. 2026-06-05
    days on market $174,900 Active 50 DOM
13. 2026-06-02
    days on market $174,900 Active 48 DOM
14. 2026-06-01
    days on market $174,900 Active 47 DOM
15. 2026-05-31
    days on market $174,900 Active 46 DOM
16. 2026-05-30
    days on market $174,900 Active 45 DOM
17. 2026-04-15
    listed $189,900 Active 1240-char remark

    Show marketing remark (1240 chars)

    Excellent Investment Opportunity – Income-Producing Duplex in the Town of Dublin! This well-maintained commercial duplex offers a fantastic opportunity for investors seeking steady rental income. Featuring an up-and-down layout, the property includes two separate units: a spacious 3-bedroom, 1-bath apartment on the lower level and a comfortable 2-bedroom, 1-bath apartment on the upper level—ideal for maximizing rental potential. The exterior is constructed of durable cinderblock with a shingle roof, providing low-maintenance ownership and long-term reliability. Each unit is equipped with forced air heating, while window units provide cooling for seasonal comfort. Utilities are efficiently set up with separate electric meters for each unit, and public water and sewer services are provided by the Town of Dublin. Outside, tenants will appreciate the convenience of a gravel driveway and dedicated gravel parking area, offering ample off-street parking. Currently generating $1,700 per month in rental income, this duplex presents a solid return opportunity with room for future growth. Roof is 4-5 years old. Whether you're expanding your portfolio or entering the investment market, this property checks all the boxes!

18. 2022-10-17
    historical
19. 2022-09-30
    price $169,900
20. 2022-09-15
    price $169,900
21. 2022-08-14
    listed $179,900 Active
22. 2022-07-08
    listed $179,900 Active
23. 2016-05-11
    soldstatus $45,000

ⓘ 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: $522 · $44/mo
• Projected year-2 tax: $1,434 · $120/mo
• Expected delta: +$912/yr (+$76/mo · 174.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,600
• − Mortgage interest: −$9,797
• − Property taxes: −$522
• − Insurance: −$874
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$5,088
• Taxable loss: −$658
• Est. tax savings @ 24.0%: +$158
• After-tax cash flow: $2,449/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: Pulaski County Public School District
• NCES district ID: 5103150
• Math proficiency: 48% ▼ -31.00%
• Reading proficiency: 61% ▼ -13.00%
• Median HH income: $44,912
• Composite: 45.98/100
• National rank: #2537
• State rank: #86 of 131 in VA

Livability — Dublin

• Score: 69/100
• State rank: #251
• US rank: #8475

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dublin, VA
• Population (ZIP): 10,860

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 32,949 people
• By 2030: 31,812 · -3.5%
• By 2040: 29,224 · -11.3%
• By 2050: 26,691 · -19.0%
• By 2075: 21,312 · -35.3%
• By 2100: 15,697 · -52.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Black 5% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 2% Iranian 1% Serbian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+44.7) · D 27.3% · R 72.0%
• 2008→2024 swing: -25.1pp toward R · 2008: -19.5pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+41.5 2016: R+40.7 2012: R+24.8 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.37%
• Current HPI: 170.282
• 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

+322.0% since first listed

7 events — show timeline

• 2026-04-15 Listed $189,900 SWVAR
• 2022-10-17 Listing Removed — MLSRV
• 2022-09-30 Price Changed $169,900 MLSRV
• 2022-09-15 Price Changed $169,900 NRVMLS
• 2022-08-14 Listed $179,900 NRVMLS
• 2022-07-08 Listed $179,900 MLSRV
• 2016-05-11 Sold (Public Records) $45,000 Public Records

Property tax history

+7.2%/yr

Latest (2026): $522 · +0.0% YoY. Source: county tax records.