459 Proctor St · Drakes Branch, VA 24060

$45,000

4 bd · 2.0 ba · 2,039 sqft · SingleFamily · 81 Days on market

Built 1940 1.00 ac lot $22/sqft · 72% below area ↓ 25% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! Bring this gem back to life! 4 Bedrooms / 2 Bathrooms with over 2,000sqft on a 1 acre lot. Massive rooms with high ceilings throughout the home. Attached 1 Car Garage, screened in back porch & covered front porch. All information is deemed accurate but must be verified by buyer and buyer agent. Home is being Sold AS-IS.

Key facts

• 1 acre lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#464 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, crime D+, schools 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: Rents rising (+4.0%/yr); 315 active listings in the ZIP; 39 units permitted in Charlotte County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($68k/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 $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Charlotte County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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?
8. 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.
9. 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.
10. 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: 5.41% ✓
• Cap rate: 49.32%
• Cash-on-cash: 153.67%
• DSCR: 7.84
• GRM: 1.5

CMA / ARV

• ARV (median comp): $162,975
• List price: $45,000
• Delta: -72.39%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
149 Jackson St	0.65mi	3/2.0 (-1)	1,880 (-8%)	22mo	$86,250	$46	34
225 Locke Shores Dr	0.70mi	4/2.0	1,788 (-12%)	22mo	$75,214	$42	29

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 · 3.95% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.77×
• Total profit: $97,865
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 19.06×
• Total profit: $227,535
• Equity at exit: $3,891

Cash invested: $12,600 (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 24060

• Rents YoY: 4.0%
• Active inventory: 315
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $2,436 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $1,614

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 29%

Sensitivity live

Price	-10% $1,645	-5% $1,629	+0% $1,614	+5% $1,598	+10% $1,582
Rent	-10% $1,421	-5% $1,517	+0% $1,614	+5% $1,710	+10% $1,806
Rate	-1.0pp $1,636	-0.5pp $1,625	base $1,614	+0.5pp $1,602	+1.0pp $1,590

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-27
   price $45,000 345-char remark

   Show marketing remark (345 chars)

   INVESTOR SPECIAL! Bring this gem back to life! 4 Bedrooms / 2 Bathrooms with over 2,000sqft on a 1 acre lot. Massive rooms with high ceilings throughout the home. Attached 1 Car Garage, screened in back porch & covered front porch. All information is deemed accurate but must be verified by buyer and buyer agent. Home is being Sold AS-IS.

2. 2026-03-27
   price $50,000 345-char remark

   Show marketing remark (345 chars)

   INVESTOR SPECIAL! Bring this gem back to life! 4 Bedrooms / 2 Bathrooms with over 2,000sqft on a 1 acre lot. Massive rooms with high ceilings throughout the home. Attached 1 Car Garage, screened in back porch & covered front porch. All information is deemed accurate but must be verified by buyer and buyer agent. Home is being Sold AS-IS.

3. 2026-03-07
   listed $60,000 Active 345-char remark

   Show marketing remark (345 chars)

   INVESTOR SPECIAL! Bring this gem back to life! 4 Bedrooms / 2 Bathrooms with over 2,000sqft on a 1 acre lot. Massive rooms with high ceilings throughout the home. Attached 1 Car Garage, screened in back porch & covered front porch. All information is deemed accurate but must be verified by buyer and buyer agent. Home is 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.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,234
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$2,339
• − Management: −$2,339
• − Depreciation: −$1,309
• Taxable income: $19,827
• Est. tax owed @ 24.0%: −$4,758
• After-tax cash flow: $14,605/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 — Drakes Branch

• Score: 59/100
• State rank: #464
• US rank: #19827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Drakes Branch, VA
• County: Montgomery County · 78,218 people
• Metro: Blacksburg-Christiansburg, VA
• Population (ZIP): 48,541
• Household income: $67,675
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 3694.0

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 (80%)
• Race & ethnicity: White 80% Asian 8% Two or more races 4% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 86% English-only · Other Indo-European 4% Chinese 3% Spanish 3%

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: ▼ -176.54%
• Current HPI: 289.8166
• Rent YoY: ▲ 3.95%
• Metro: Blacksburg-Christiansburg, 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

-25.0% since first listed

3 events — show timeline

• 2026-04-27 Price Changed $45,000 SCAR
• 2026-03-27 Price Changed $50,000 SCAR
• 2026-03-07 Listed $60,000 SCAR