1103 River Rd · South Boston, VA 24592

$32,500

2 bd · 1.0 ba · 552 sqft · SingleFamily public records · 26 Days on market

Built 1971 0.25 ac lot $59/sqft · 22% below area Est $45k · 28% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property being sold "as-is".

Key facts

• 0.25 acre lot
• Built 1971
• Listed 26 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $696 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $32k (1.5% below list) — sets the bar for market timing.
• Cap rate 32.0% vs local median 4.9% in South Boston — 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 74/100 on livability (#147 in VA, #4,742 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Halifax County Public School District (town): math 29% / reading 59% proficiency, ranked #116 of 131 in VA (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 97 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $225 of loan paydown is wiped out by about $975 of value loss. Plan a longer hold.
• Halifax County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago 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.

Risks & watch-outs

• 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 $32,012 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 3.47% ✓
• Cap rate: 31.97%
• Cash-on-cash: 91.72%
• DSCR: 5.08
• GRM: 2.4

CMA / ARV

• ARV (median comp): $45,380
• List price: $32,500
• Delta: -28.38%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 92.5%
• Equity multiple: 5.29×
• Total profit: $39,031
• Equity at exit: $4,846

10-year hold

• IRR: 95.3%
• Equity multiple: 11.00×
• Total profit: $91,026
• Equity at exit: $2,810

Cash invested: $9,100 (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 24592

• Home prices YoY: -27.0%
• Active inventory: 61
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$170
• Tax from tax record: −$12 /mo · $142/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $696

Break-even live

Break-even rent $248

Max offer price $32,500

Occupancy floor 33%

Sensitivity live

Price	-10% $714	-5% $705	+0% $696	+5% $686	+10% $677
Rent	-10% $606	-5% $651	+0% $696	+5% $740	+10% $785
Rate	-1.0pp $712	-0.5pp $704	base $696	+0.5pp $687	+1.0pp $679

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: $8,125
• Closing costs: $975
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-06
   status Under Contract 38-char remark

   Show marketing remark (38 chars)

   Property being sold "as-is".

2. 2026-04-10
   listed $32,500 Active 38-char remark

   Show marketing remark (38 chars)

   Property being sold "as-is".

3. 2026-03-10
   historical
4. 2025-06-12
   listed $44,500 Active
5. 2024-04-17
   historical
6. 2024-03-26
   listed $88,500 Active
7. 2013-01-25
   soldstatus $239,900
8. 2013-01-25
   soldstatus $239,900
9. 2013-01-25
   soldstatus $239,900
10. 2012-06-18
    listed $239,900
11. 2012-06-15
    listed $239,900
12. 2012-06-15
    listed $239,900

ⓘ 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: $142 · $12/mo
• Projected year-2 tax: $266 · $22/mo
• Expected delta: +$125/yr (+$10/mo · 88.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,539
• − Mortgage interest: −$1,821
• − Property taxes: −$142
• − Insurance: −$162
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$945
• Taxable income: $8,302
• Est. tax owed @ 24.0%: −$1,993
• After-tax cash flow: $6,354/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: Halifax County Public School District
• NCES district ID: 5101770
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 59% ▼ -15.00%
• Median HH income: $36,137
• Composite: 36.36/100
• National rank: #4687
• State rank: #116 of 131 in VA

Livability — South Boston

• Score: 74/100
• State rank: #147
• US rank: #4742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Boston, VA
• Population (ZIP): 14,411

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 32,892 people
• By 2030: 31,438 · -4.4%
• By 2040: 28,350 · -13.8%
• By 2050: 25,553 · -22.3%
• By 2075: 20,217 · -38.5%
• By 2100: 14,645 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 40% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Halifax

• 2024 margin: Strong R (+21.1) · D 39.1% · R 60.2%
• 2008→2024 swing: -18.2pp toward R · 2008: -2.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+15.1 2016: R+16.6 2012: R+5.6 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.37%
• Current HPI: 190.3767
• 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

-86.5% since first listed

12 events — show timeline

• 2026-05-06 Pending — REINMLS
• 2026-04-10 Listed $32,500 REINMLS
• 2026-03-10 Listing Removed — REINMLS
• 2025-06-12 Listed $44,500 REINMLS
• 2024-04-17 Listing Removed — REINMLS
• 2024-03-26 Listed $88,500 REINMLS
• 2013-01-25 Sold (MLS) $239,900 RVLG
• 2013-01-25 Sold (MLS) $239,900 AMLSNC
• 2013-01-25 Sold (MLS) $239,900 TMLS
• 2012-06-18 Listed $239,900 RVLG
• 2012-06-15 Listed $239,900 AMLSNC
• 2012-06-15 Listed $239,900 TMLS

Property tax history

-0.2%/yr

Latest (2025): $142 · +0.0% YoY. Source: county tax records.