23352 Grant St · Courtland, VA 23837

$205,000

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 66 Days on market

Built 1956 0.71 ac lot $219/sqft · 13% below area Est $283k · 28% under ↓ 5% 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +4.6/10.0
• Cash flow +4.5/30.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

This wonderful 2 bedroom, 1 bathroom home is situated on a corner lot in the heart of Courtland! It features an eat-in kitchen with stainless steel appliances, a sunroom that could serve as a den or office space, living room with lots of natural light, detached 1 car garage/workshop with plumbing & electricity, 2 car detached carport, and a metal shed. As an added bonus, the home was freshly painted in November 2025. This property is centrally located to amenities and would make an easy commute to Richmond or Hampton Roads as it's also conveniently located near 58/35. Whether you're downsizing or purchasing your first home, this is a great opportunity to invest in an affordable home! Call today!

Key facts

• Metal shed
• Detached carport
• Sunroom

Tags

• CORNER LOT
• EAT-IN KITCHEN
• SUNROOM
• DETACHED GARAGE
• DETACHED CARPORT
• METAL SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-531 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (45.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (55.0% below list).
• Recommended offer: $92k (55.0% below list) — sets the bar for 1% rule.
• Cap rate 3.2% vs local median 1.8% in Courtland — 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 72/100 on livability (#186 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Southampton County Public School District (rural): math 43% / reading 66% proficiency, ranked #85 of 131 in VA (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Southampton Middle (math 31% / reading 56%, grade D, #285 of 342 statewide, top 84%, 566 students, 76% FRL); Southampton High (math 47% / reading 77%, grade B-, #231 of 319 statewide, top 75%, 769 students, 75% FRL) — zoned schools average 75% FRL vs 41% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 42 active listings in the ZIP; 60 units permitted in Southampton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Southampton County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,203 (55.0% 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. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.45% ✗
• Cap rate: 3.18%
• Cash-on-cash: -11.10%
• DSCR: 0.51
• GRM: 18.5

CMA / ARV

• ARV (median comp): $282,886
• List price: $205,000
• Delta: -27.53%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.35×
• Total profit: $77,743
• Equity at exit: $184,680

10-year hold

• IRR: 15.7%
• Equity multiple: 5.45×
• Total profit: $255,375
• Equity at exit: $398,270

Cash invested: $57,400 (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 23837

• Home prices YoY: 4.9%
• Active inventory: 42
• Price-to-rent: 18.5×

Monthly cashflow live

• Estimated rent: $922 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $-531

Break-even live

Break-even rent $1,594

Max offer price $111,189

Occupancy floor —

Sensitivity live

Price	-10% $-415	-5% $-473	+0% $-531	+5% $-589	+10% $-647
Rent	-10% $-604	-5% $-567	+0% $-531	+5% $-495	+10% $-458
Rate	-1.0pp $-428	-0.5pp $-479	base $-531	+0.5pp $-584	+1.0pp $-638

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $205,000 Active 66 DOM
2. 2026-06-21
   days on market $205,000 Active 65 DOM
3. 2026-06-18
   days on market $205,000 Active 63 DOM
4. 2026-06-17
   days on market $205,000 Active 62 DOM
5. 2026-06-16
   days on market $205,000 Active 61 DOM
6. 2026-06-15
   days on market $205,000 Active 60 DOM
7. 2026-06-15
   days on market $205,000 Active 59 DOM
8. 2026-06-13
   days on market $205,000 Active 58 DOM
9. 2026-06-12
   days on market $205,000 Active 57 DOM
10. 2026-06-09
    days on market $205,000 Active 54 DOM
11. 2026-06-08
    days on market $205,000 Active 53 DOM
12. 2026-06-08
    days on market $205,000 Active 52 DOM
13. 2026-06-07
    statusdays on market $205,000 Active 51 DOM
14. 2026-06-03
    days on market $205,000 Active Under Contract 48 DOM
15. 2026-06-02
    days on market $205,000 Active Under Contract 47 DOM
16. 2026-06-01
    days on market $205,000 Active Under Contract 46 DOM
17. 2026-05-31
    days on market $205,000 Active Under Contract 45 DOM
18. 2026-05-14
    price $205,000 708-char remark

    Show marketing remark (708 chars)

    This wonderful 2 bedroom, 1 bathroom home is situated on a corner lot in the heart of Courtland! It features an eat-in kitchen with stainless steel appliances, a sunroom that could serve as a den or office space, living room with lots of natural light, detached 1 car garage/workshop with plumbing & electricity, 2 car detached carport, and a metal shed. As an added bonus, the home was freshly painted in November 2025. This property is centrally located to amenities and would make an easy commute to Richmond or Hampton Roads as it's also conveniently located near 58/35. Whether you're downsizing or purchasing your first home, this is a great opportunity to invest in an affordable home! Call today!

19. 2026-04-16
    listed $215,000 Active 708-char remark

    Show marketing remark (708 chars)

    This wonderful 2 bedroom, 1 bathroom home is situated on a corner lot in the heart of Courtland! It features an eat-in kitchen with stainless steel appliances, a sunroom that could serve as a den or office space, living room with lots of natural light, detached 1 car garage/workshop with plumbing & electricity, 2 car detached carport, and a metal shed. As an added bonus, the home was freshly painted in November 2025. This property is centrally located to amenities and would make an easy commute to Richmond or Hampton Roads as it's also conveniently located near 58/35. Whether you're downsizing or purchasing your first home, this is a great opportunity to invest in an affordable home! Call today!

ⓘ 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: $1,188 · $99/mo
• Projected year-2 tax: $1,681 · $140/mo
• Expected delta: +$493/yr (+$41/mo · 41.5%)

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

Taxation est. · year 1

• Rental income: $11,064
• − Mortgage interest: −$11,483
• − Property taxes: −$1,188
• − Insurance: −$1,025
• − Repairs & maintenance: −$885
• − Management: −$885
• − Depreciation: −$5,964
• Taxable loss: −$10,366
• Est. tax savings @ 24.0%: +$2,488
• After-tax cash flow: $-3,885/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: Southampton County Public School District
• NCES district ID: 5103600
• Math proficiency: 43% ▼ -42.00%
• Reading proficiency: 66% ▼ -14.00%
• Median HH income: $48,952
• Composite: 46.32/100
• National rank: #2472
• State rank: #85 of 131 in VA

Livability — Courtland

• Score: 72/100
• State rank: #186
• US rank: #5801

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,414

Population outlook (Southampton County) Hauer SSP2

• Today (2025): 17,420 people
• By 2030: 16,944 · -2.7%
• By 2040: 15,790 · -9.4%
• By 2050: 14,244 · -18.2%
• By 2075: 11,048 · -36.6%
• By 2100: 7,838 · -55.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 37% Two or more races 3%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 3%
• Languages at home: 96% English-only · German/W. Germanic 2% Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Southampton

• 2024 margin: Strong R (+25.5) · D 36.9% · R 62.4%
• 2008→2024 swing: -23.5pp toward R · 2008: -2.0pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+18.0 2016: R+16.2 2012: R+3.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.64%
• Current HPI: 292.9774
• 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

-4.7% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $205,000 REINMLS
• 2026-04-16 Listed $215,000 REINMLS

Property tax history

+5.9%/yr

Latest (2025): $1,188 · +0.0% YoY. Source: county tax records.