63 Culpeper Ave · Petersburg, VA 23803

$115,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 81 Days on market

Built 1953 5,000 sqft lot Est $140k · 18% 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 +25.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +5.9/10.0
• Appreciation +5.7/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

Key facts

• Fenced yard
• Paved driveway
• 5,000 sq ft lot

Tags

• FENCED YARD
• PAVED DRIVEWAY
• STRONG RENTAL POTENTIAL
• WALKING DISTANCE TO BUS LINE
• OPPORTUNITY TO RENOVATE

Property features AI

Exterior

• Parking: Detached garage; Driveway parking; Off-street paved parking
• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property
• Construction: Frame construction with vinyl siding; Composition roof; Built (actual year not specified)
• Exterior features: Paved driveway; Chain link full fencing

Interior

• Kitchen: Electric cooking; Refrigerator
• Bedrooms: Main-level bedrooms (primary on main level)
• Flooring: Partially carpeted; Vinyl
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Electric heating; Central electric air conditioning
• Interior features: Laminate counters; Main-level primary; Crawl space basement
• Laundry & utility: Washer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 4.5% in Petersburg — 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 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 290 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($795 loan paydown + $2k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 5.9% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $115k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (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 1953 — 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 D-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 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?
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: 1.09% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.64%
• DSCR: 1.43
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $140,400
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
63 Culpeper Ave	0.00mi	2/1.0	720 (0%)	1mo	$110,000	$153	100
80 Slagle Ave	0.05mi	2/1.0	720 (0%)	1mo	$169,000	$235	97
101 Slagle Ave	0.11mi	2/1.0	720 (0%)	2mo	$160,000	$222	93
59 Monument Ave	0.10mi	2/1.0	720 (0%)	3mo	$174,950	$243	93
1047 Sussex St	0.54mi	2/1.0	672 (-7%)	3mo	$100,000	$149	61
226 Mecklenburg St	0.67mi	2/1.0	684 (-5%)	3mo	$152,500	$223	58
76 Henrico St	0.26mi	2/1.0	816 (+13%)	9mo	$135,000	$165	58
1029 7th St	0.57mi	2/1.0	768 (+7%)	11mo	$150,000	$195	53
2035 Richmond Ave	0.42mi	2/1.0	780 (+8%)	18mo	$123,000	$158	51
923 Wills Rd	0.68mi	2/1.0	741 (+3%)	16mo	$119,000	$161	50
1060 Amelia St	0.53mi	3/1.0 (+1)	769 (+7%)	14mo	$178,000	$231	48

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

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.77×
• Total profit: $24,897
• Equity at exit: $41,968

10-year hold

• IRR: 19.2%
• Equity multiple: 3.61×
• Total profit: $83,890
• Equity at exit: $57,930

Cash invested: $32,200 (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 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 290
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,250 high
• Mortgage (P&I): −$603
• Tax from tax record: −$78 /mo · $932/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $259

Break-even live

Break-even rent $922

Max offer price $115,000

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2310 Richmond Ave Petersburg, VA	2.0	1.0	728	$1,250	$1.72	23d	1	0.63mi
129 S Old Church St Petersburg, VA	3.0	1.0	640	$1,250	$1.95	23d	1	0.83mi
445 Roundtop Ave Petersburg, VA	2.0	1.0	750	$1,050	$1.40	1d	3	0.97mi
120 S Little Church St Petersburg, VA	2.0	2.5	600	$1,475	$2.46	23d	1	1.01mi
250 E Bank St Petersburg, VA	2.0	1.0–2.0	862	$1,509	$1.75	1d	19	1.33mi
219 E Bank St Apt 217 Petersburg, VA	1.0	1.0	615	$1,295	$2.11	43d	1	1.39mi
219 E Bank St Apt 136 Petersburg, VA	1.0	1.0	569	$1,150	$2.02	43d	1	1.39mi
219 E Bank St Apt 126 Petersburg, VA	1.0	1.0	671	$1,275	$1.90	23d	1	1.39mi
219 E Bank St Apt 227 Petersburg, VA	1.0	1.0	615	$1,075	$1.75	23d	1	1.39mi
219 E Bank St Apt 103 Petersburg, VA	1.0	1.0	465	$1,295	$2.78	20d	1	1.39mi
219 E Bank St Apt 134 Petersburg, VA	1.0	1.0	569	$1,175	$2.07	14d	1	1.39mi
219 E Bank St Apt 121 Petersburg, VA	1.0	1.0	569	$1,180	$2.07	43d	1	1.39mi
219 E Bank St Apt 125 Petersburg, VA	1.0	1.0	671	$1,195	$1.78	2d	1	1.39mi
219 E Bank St Apt 105 Petersburg, VA	1.0	1.0	465	$1,085	$2.33	2d	1	1.39mi
219 E Bank St Unit 215 Petersburg, VA	1.0	1.0	615	$1,195	$1.94	10d	1	1.41mi

Listing history 19 events

1. 2026-05-01
   status Pending
2. 2026-04-15
   price $115,000
3. 2026-04-09
   price $121,000
4. 2026-03-11
   price $122,000
5. 2026-02-21
   price $130,000
6. 2026-02-09
   listed $135,000 Active
7. 2018-02-14
   soldstatus $35,500 Closed 95-char remark

   Show marketing remark (95 chars)

   Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

8. 2018-02-13
   soldstatus $31,500
9. 2018-01-05
   status Pending 95-char remark

   Show marketing remark (95 chars)

   Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

10. 2017-11-06
    status Active 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

11. 2017-10-31
    status Pending 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

12. 2017-10-31
    status Active 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

13. 2017-10-27
    status Pending 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

14. 2017-09-29
    price $38,000 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

15. 2017-08-28
    price $46,950 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

16. 2017-08-28
    status Active 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

17. 2017-05-25
    historical 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

18. 2017-05-02
    listed $52,000 Active 95-char remark

    Show marketing remark (95 chars)

    Cute rancher with two bedrooms and one bath, great for first time buyer or rental for investor.

19. 1998-01-14
    soldstatus $31,000

ⓘ 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: $932 · $78/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$11/yr (+$1/mo · 1.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% 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: $14,999
• − Mortgage interest: −$6,442
• − Property taxes: −$932
• − Insurance: −$575
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,345
• Taxable income: $1,305
• Est. tax owed @ 24.0%: −$313
• After-tax cash flow: $2,792/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: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• Metro: Richmond, 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

+271.0% since first listed

19 events — show timeline

• 2026-05-01 Pending — CVRMLS
• 2026-04-15 Price Changed $115,000 CVRMLS
• 2026-04-09 Price Changed $121,000 CVRMLS
• 2026-03-11 Price Changed $122,000 CVRMLS
• 2026-02-21 Price Changed $130,000 CVRMLS
• 2026-02-09 Listed $135,000 CVRMLS
• 2018-02-14 Sold (MLS) $35,500 CVRMLS
• 2018-02-13 Sold (Public Records) $31,500 Public Records
• 2018-01-05 Pending — CVRMLS
• 2017-11-06 Relisted — CVRMLS
• 2017-10-31 Pending — CVRMLS
• 2017-10-31 Relisted — CVRMLS
• 2017-10-27 Pending — CVRMLS
• 2017-09-29 Price Changed $38,000 CVRMLS
• 2017-08-28 Price Changed $46,950 CVRMLS
• 2017-08-28 Relisted — CVRMLS
• 2017-05-25 Listing Removed — CVRMLS
• 2017-05-02 Listed $52,000 CVRMLS
• 1998-01-14 Sold (Public Records) $31,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $932 · +68.3% YoY. Source: county tax records.