308 Randolph St · Phenix, VA 23959

$103,699

2 bd · 2.0 ba · 1,660 sqft · SingleFamily public records · 255 Days on market

Built 1979 0.34 ac lot $62/sqft · 22% below area Est $132k · 22% under

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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 +25.0/30.0
• ARV discount +15.0/15.0
• Appreciation +8.3/10.0
• DSCR +8.2/10.0
• 1% rule +5.4/10.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investors!!Located in the small town of Phenix, this 3-bedroom, 2.5-bath single-wide with a 1985 addition offers great potential for the right investor. The home sits on a spacious, shaded lot with mature trees and a circle driveway. It needs work but has plenty of room for improvement. With some TLC and updates, this could make an excellent flip, rental, or affordable home in a peaceful small-town setting. Being Sold "AS IS"

Key facts

• Spacious shaded lot
• Mature trees
• Circle driveway

Tags

• SPACIOUS SHADED LOT
• MATURE TREES
• CIRCLE DRIVEWAY
• PEACEFUL SMALL-TOWN SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Recommended offer: $91k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#360 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, schools A-, employment B+; Watch: health & safety C-, crime D+, amenities F.
• Charlotte County Public School District (rural): math 51% / reading 72% proficiency, ranked #59 of 131 in VA (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 23 active listings in the ZIP; 39 units permitted in Charlotte County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($717 loan paydown + $7k appreciation (6.6% local appreciation)).
• Charlotte County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 255 days — a 12% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $91,255 (12.0% below list)

Questions for the listing agent

1. It's been on market 255 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 1979 — 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 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?
6. 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?
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: 1.04% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.37%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (median comp): $132,460
• List price: $103,699
• Delta: -21.71%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7001 Phenix Main St	0.32mi	3/1.5 (+1)	1,624 (-2%)	8mo	$179,000	$110	68
433 Church St	0.21mi	2/1.0	1,502 (-10%)	13mo	$87,000	$58	59

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

Projected returns pro-forma

6.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.66×
• Total profit: $48,303
• Equity at exit: $69,403

10-year hold

• IRR: 22.7%
• Equity multiple: 5.47×
• Total profit: $129,797
• Equity at exit: $129,666

Cash invested: $29,036 (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 23959

• Home prices YoY: 6.2%
• Active inventory: 23
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,075 medium
• Mortgage (P&I): −$544
• Tax from tax record: −$35 /mo · $425/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $227

Break-even live

Break-even rent $788

Max offer price $103,699

Occupancy floor 74%

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: $25,925
• Closing costs: $3,111
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $103,699 Active 255 DOM
2. 2026-06-17
   days on market $103,699 Active 254 DOM
3. 2026-06-16
   days on market $103,699 Active 253 DOM
4. 2026-06-15
   days on market $103,699 Active 252 DOM
5. 2026-06-15
   days on market $103,699 Active 251 DOM
6. 2026-06-13
   days on market $103,699 Active 250 DOM
7. 2026-06-12
   days on market $103,699 Active 249 DOM
8. 2026-06-09
   days on market $103,699 Active 246 DOM
9. 2026-06-08
   days on market $103,699 Active 245 DOM
10. 2026-06-08
    days on market $103,699 Active 244 DOM
11. 2026-06-07
    days on market $103,699 Active 243 DOM
12. 2026-06-03
    days on market $103,699 Active 240 DOM
13. 2026-06-02
    days on market $103,699 Active 239 DOM
14. 2026-06-01
    days on market $103,699 Active 238 DOM
15. 2026-05-31
    days on market $103,699 Active 237 DOM
16. 2025-10-07
    listed $103,699 Active 439-char remark

    Show marketing remark (439 chars)

    Investors!!Located in the small town of Phenix, this 3-bedroom, 2.5-bath single-wide with a 1985 addition offers great potential for the right investor. The home sits on a spacious, shaded lot with mature trees and a circle driveway. It needs work but has plenty of room for improvement. With some TLC and updates, this could make an excellent flip, rental, or affordable home in a peaceful small-town setting. Being Sold "AS IS"

17. 2025-10-07
    listed $103,699 Active 439-char remark

    Show marketing remark (439 chars)

    Investors!!Located in the small town of Phenix, this 3-bedroom, 2.5-bath single-wide with a 1985 addition offers great potential for the right investor. The home sits on a spacious, shaded lot with mature trees and a circle driveway. It needs work but has plenty of room for improvement. With some TLC and updates, this could make an excellent flip, rental, or affordable home in a peaceful small-town setting. Being Sold "AS IS"

ⓘ 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: $425 · $35/mo
• Projected year-2 tax: $850 · $71/mo
• Expected delta: +$425/yr (+$35/mo · 100.1%)

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

Taxation est. · year 1

• Rental income: $12,899
• − Mortgage interest: −$5,809
• − Property taxes: −$425
• − Insurance: −$518
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$3,017
• Taxable income: $1,067
• Est. tax owed @ 24.0%: −$256
• After-tax cash flow: $2,465/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: Charlotte County Public School District
• NCES district ID: 5100750
• Math proficiency: 51% ▼ -35.00%
• Reading proficiency: 72% ▼ -8.00%
• Median HH income: $35,822
• Composite: 50.88/100
• National rank: #1794
• State rank: #59 of 131 in VA

Livability — Phenix

• Score: 64/100
• State rank: #360
• US rank: #14410

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phenix, VA
• Population (ZIP): 1,198

Population outlook (Charlotte County) Hauer SSP2

• Today (2025): 11,224 people
• By 2030: 10,663 · -5.0%
• By 2040: 9,445 · -15.8%
• By 2050: 8,271 · -26.3%
• By 2075: 5,985 · -46.7%
• By 2100: 3,716 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 25% Two or more races 2%
• Common ancestry: Serbian 9% Scottish 8% Lithuanian 2%

Political lean MEDSL · Charlotte

• 2024 margin: Solid R (+32.5) · D 33.4% · R 66.0%
• 2008→2024 swing: -21.7pp toward R · 2008: -10.8pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+24.2 2016: R+22.9 2012: R+13.7 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.64%
• Current HPI: 112.888
• 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

+0.0% since first listed

2 events — show timeline

• 2025-10-07 Listed $103,699 SCAR
• 2025-10-07 Listed $103,699 LMLS

Property tax history

+4.0%/yr

Latest (2025): $425 · +4.8% YoY. Source: county tax records.