340 Barrett St · Danville, VA 24541

$145,000

3 bd · 2.0 ba · 2,058 sqft · SingleFamily public records · 36 Days on market

Built 1973 0.51 ac lot $70/sqft · 39% below area Est $166k · 12% 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 +30.0/30.0
• ARV discount +13.1/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold Comps Only.

Key facts

• Large lot
• No hoa
• Prime location

Tags

• NO HOA
• LARGE LOT
• DURABLE STEEL BACK DECK
• PRIME LOCATION
• PROXIMITY TO MAJOR AMENITIES

Property features AI

Finance

• Other: Listing provided by XRealty.net LLC

Exterior

• Parking: Concrete, paved, oversized parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Brick construction; Above-grade finished area: 1,437; Partial basement foundation
• Exterior features: Shingle roof; Storage structure on the property; Lot is approximately 0.51 acres

Interior

• Kitchen: Dishwasher; Electric range
• Flooring: Laminate; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Wood-burning fireplace in the living room; Partial basement
• Laundry & utility: Washer hookup in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 5.3% in Danville — 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 77/100 on livability (#91 in VA, #2,952 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, crime D-, commute F.
• Danville City Public School District (town): math 30% / reading 44% proficiency, ranked #128 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 245 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 54 units permitted in Danville city in 2024 (40 in 5+ unit buildings).
• This rent runs 45% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Danville County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $145k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. 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?
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: 1.32% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.56%
• DSCR: 1.83
• GRM: 6.3

CMA / ARV

• ARV (median comp): $165,501
• List price: $145,000
• Delta: -12.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1337 Westover Dr	0.40mi	3/2.0	2,161 (+5%)	21mo	$260,000	$120	55
108 Grandin Ct	0.66mi	4/2.5 (+1)	2,031 (-1%)	7mo	$246,000	$121	54
530 Rosemary Ln	0.71mi	3/2.5	2,144 (+4%)	6mo	$205,000	$96	53
1465 Blair Loop Rd	0.67mi	3/2.0	1,974 (-4%)	23mo	$265,000	$134	43

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: 10.3%
• Equity multiple: 1.41×
• Total profit: $16,459
• Equity at exit: $21,620

10-year hold

• IRR: 19.3%
• Equity multiple: 2.62×
• Total profit: $65,655
• Equity at exit: $12,537

Cash invested: $40,600 (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 24541

• Home prices YoY: -17.1%
• Active inventory: 245
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,911 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$61 /mo · $730/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $628

Break-even live

Break-even rent $1,116

Max offer price $145,000

Occupancy floor 62%

Sensitivity live

Price	-10% $710	-5% $669	+0% $628	+5% $587	+10% $546
Rent	-10% $477	-5% $553	+0% $628	+5% $704	+10% $779
Rate	-1.0pp $701	-0.5pp $665	base $628	+0.5pp $590	+1.0pp $552

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
528 River Oak Dr Danville, VA	3.0	2.0	1830	$2,700	$1.48	44d	1	1.05mi
140 N Hunter St Danville, VA	4.0	2.0	1620	$1,600	$0.99	44d	1	1.35mi

Listing history 18 events

1. 2026-06-10
   status $145,000 Pending 36 DOM
2. 2026-06-09
   days on market $145,000 Active 36 DOM
3. 2026-06-08
   days on market $145,000 Active 35 DOM
4. 2026-06-07
   days on market $145,000 Active 34 DOM
5. 2026-06-05
   days on market $145,000 Active 31 DOM
6. 2026-06-03
   price $145,000 Active 29 DOM
7. 2026-06-02
   days on market $159,900 Active 29 DOM
8. 2026-06-01
   days on market $159,900 Active 28 DOM
9. 2026-05-31
   days on market $159,900 Active 27 DOM
10. 2026-05-30
    days on market $159,900 Active 26 DOM
11. 2026-05-04
    listed $159,900 Active 884-char remark
12. 2022-12-02
    soldstatus $85,000 16-char remark

    Show marketing remark (16 chars)

    Sold Comps Only.

13. 2021-05-05
    listed $86,000 16-char remark

    Show marketing remark (16 chars)

    Sold Comps Only.

14. 2021-05-04
    soldstatus $85,000
15. 2021-05-03
    soldstatus $85,000

    Show marketing remark (308 chars)

    Lots of potential in this brick home with two car garage. 3 bedrooms, two bathrooms, large yard, centrally located. Seller financing available with 30% down payment. Home sold as is, where is. Seller is a licensed real estate agent in VA. All information is taken from GIS. Buyer and buyer's agent to verify.

16. 2021-03-02
    listed $86,000

    Show marketing remark (308 chars)

    Lots of potential in this brick home with two car garage. 3 bedrooms, two bathrooms, large yard, centrally located. Seller financing available with 30% down payment. Home sold as is, where is. Seller is a licensed real estate agent in VA. All information is taken from GIS. Buyer and buyer's agent to verify.

17. 2021-02-01
    soldstatus $61,500
18. 2020-12-03
    listed $59,900

ⓘ 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: $730 · $61/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$459/yr (+$38/mo · 63.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,931
• − Mortgage interest: −$8,122
• − Property taxes: −$730
• − Insurance: −$725
• − Repairs & maintenance: −$1,835
• − Management: −$1,835
• − Depreciation: −$4,218
• Taxable income: $5,467
• Est. tax owed @ 24.0%: −$1,312
• After-tax cash flow: $6,224/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: Danville City Public School District
• NCES district ID: 5101110
• Math proficiency: 30% ▼ -22.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $31,952
• Composite: 30.23/100
• National rank: #6298
• State rank: #128 of 131 in VA

Livability — Danville

• Score: 77/100
• State rank: #91
• US rank: #2952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, VA
• County: Danville City · 59,055 people
• City population: 59,055
• Metro: Danville, VA
• Population (ZIP): 28,042
• Household income: $51,427
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1399.0

Population outlook (Danville County) Hauer SSP2

• Today (2025): 40,989 people
• By 2030: 40,432 · -1.4%
• By 2040: 39,255 · -4.2%
• By 2050: 38,035 · -7.2%
• By 2075: 35,612 · -13.1%
• By 2100: 30,365 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 50% Black 39% Two or more races 7% Hispanic / Latino 5% Asian 2%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada, Dominican Republic
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Danville

• 2024 margin: Strong D (+21.1) · D 60.1% · R 39.0%
• 2008→2024 swing: +1.9pp toward D · 2008: 19.1pp · 2024: 21.1pp
• All cycles: 2024: D+21.1 2020: D+22.1 2016: D+19.9 2012: D+22.1 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.28%
• Current HPI: 238.5992
• Rent YoY: —
• Metro: Danville, 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

+142.1% since first listed

10 events — show timeline

• 2026-06-09 Pending — LMLS
• 2026-06-03 Price Changed $145,000 LMLS
• 2026-05-04 Listed $159,900 LMLS
• 2022-12-02 Sold (MLS) $85,000 DRRAR
• 2021-05-05 Listed $86,000 DRRAR
• 2021-05-04 Sold (Public Records) $85,000 Public Records
• 2021-05-03 Sold (MLS) $85,000 MLSRV
• 2021-03-02 Listed $86,000 MLSRV
• 2021-02-01 Sold (MLS) $61,500 DRRAR
• 2020-12-03 Listed $59,900 DRRAR

Property tax history

+1.4%/yr

Latest (2025): $730 · +0.0% YoY. Source: county tax records.