23084 N James Madison Hwy · Dillwyn, VA 23936

$189,900

3 bd · 1.0 ba · 936 sqft · SingleFamily · 29 Days on market

Built 1960 1.92 ac lot $203/sqft · 7% above area Est $178k · 7% over

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Why this score? — see what drove the C 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 +22.0/30.0
• Appreciation +10.0/10.0
• DSCR +7.0/10.0
• 1% rule +4.7/10.0
• ARV discount +4.4/15.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Solid and adorable investment in your first home! 3 bed, 1 bath on 1.9 ac in Dillwyn. Updated bathroom and kitchen cabinetry and countertops, laminate flooring, both a laundry and mud room, plenty of space for a large garden, landscaping, and the laughter of children playing in the sunshine. Home sits back from the road with woods on back of property. This is a wonderful price on a great investment into your future. About 10 min to Dillwyn, 40 min to Charlottesville and Farmville, and about an hour to Richmond. Buckingham's got State Parks, State Forests, the James River, and much more! Call today and invest in your future!

Key facts

• Kitchen cabinetry
• Laminate flooring
• Laundry room

Tags

• UPDATED BATHROOM
• KITCHEN CABINETRY
• LAMINATE FLOORING
• LAUNDRY ROOM
• MUD ROOM
• LARGE GARDEN

Property features AI

Exterior

• Parking: Circular driveway; Off-street parking
• Utilities: Well water; Septic tank
• Home design: Single-story home; Frame construction with vinyl siding; Composition roof; Resale property
• Construction: Built as actual year (year built details available); Frame construction; Vinyl siding; Composition roof; Crawl space foundation
• Exterior features: Stoop; Level topography/lot

Interior

• Kitchen: Microwave; Refrigerator; Stove; Electric water heater
• Bedrooms: Bedroom(s) on main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump for heating; Electric heating; Heat pump cooling
• Interior features: Bedroom on main level; Eat-in kitchen; Crawl space basement
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (2.8% below list).
• Recommended offer: $185k (2.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#435 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, employment D, amenities F.
• Buckingham County Public School District (rural): math 36% / reading 49% proficiency, ranked #117 of 131 in VA (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 63 active listings in the ZIP; 96 units permitted in Buckingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Buckingham County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,551 (2.8% below list)

Questions for the listing agent

1. Built in 1960 — 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 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?
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 8.21%
• Cash-on-cash: 6.85%
• DSCR: 1.30
• GRM: 8.6

CMA / ARV

• ARV (median comp): $177,810
• List price: $189,900
• Delta: 6.80%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 29.2%
• Equity multiple: 3.31×
• Total profit: $122,684
• Equity at exit: $171,077

10-year hold

• IRR: 25.4%
• Equity multiple: 7.51×
• Total profit: $345,946
• Equity at exit: $368,934

Cash invested: $53,172 (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 23936

• Home prices YoY: 21.8%
• Active inventory: 63
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,846 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$80 /mo · $954/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $303

Break-even live

Break-even rent $1,461

Max offer price $189,900

Occupancy floor 79%

Sensitivity live

Price	-10% $411	-5% $357	+0% $303	+5% $250	+10% $196
Rent	-10% $158	-5% $231	+0% $303	+5% $376	+10% $449
Rate	-1.0pp $399	-0.5pp $352	base $303	+0.5pp $254	+1.0pp $204

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-13
   statusdays on market $189,900 Pending 29 DOM
2. 2026-06-10
   days on market $189,900 Active 27 DOM
3. 2026-06-09
   days on market $189,900 Active 26 DOM
4. 2026-06-08
   days on market $189,900 Active 25 DOM
5. 2026-06-07
   days on market $189,900 Active 24 DOM
6. 2026-06-05
   days on market $189,900 Active 21 DOM
7. 2026-06-03
   days on market $189,900 Active 20 DOM
8. 2026-06-02
   days on market $189,900 Active 19 DOM
9. 2026-06-01
   days on market $189,900 Active 18 DOM
10. 2026-05-31
    days on market $189,900 Active 17 DOM
11. 2026-05-30
    days on market $189,900 Active 16 DOM
12. 2026-05-14
    listed $189,900 Active 631-char remark

    Show marketing remark (631 chars)

    Solid and adorable investment in your first home! 3 bed, 1 bath on 1.9 ac in Dillwyn. Updated bathroom and kitchen cabinetry and countertops, laminate flooring, both a laundry and mud room, plenty of space for a large garden, landscaping, and the laughter of children playing in the sunshine. Home sits back from the road with woods on back of property. This is a wonderful price on a great investment into your future. About 10 min to Dillwyn, 40 min to Charlottesville and Farmville, and about an hour to Richmond. Buckingham's got State Parks, State Forests, the James River, and much more! Call today and invest in your future!

13. 2026-05-13
    listed $189,900 Active 631-char remark

    Show marketing remark (631 chars)

    Solid and adorable investment in your first home! 3 bed, 1 bath on 1.9 ac in Dillwyn. Updated bathroom and kitchen cabinetry and countertops, laminate flooring, both a laundry and mud room, plenty of space for a large garden, landscaping, and the laughter of children playing in the sunshine. Home sits back from the road with woods on back of property. This is a wonderful price on a great investment into your future. About 10 min to Dillwyn, 40 min to Charlottesville and Farmville, and about an hour to Richmond. Buckingham's got State Parks, State Forests, the James River, and much more! Call today and invest in your future!

14. 2026-05-13
    listed $189,900 Active

    Show marketing remark (631 chars)

    Solid and adorable investment in your first home! 3 bed, 1 bath on 1.9 ac in Dillwyn. Updated bathroom and kitchen cabinetry and countertops, laminate flooring, both a laundry and mud room, plenty of space for a large garden, landscaping, and the laughter of children playing in the sunshine. Home sits back from the road with woods on back of property. This is a wonderful price on a great investment into your future. About 10 min to Dillwyn, 40 min to Charlottesville and Farmville, and about an hour to Richmond. Buckingham's got State Parks, State Forests, the James River, and much more! Call today and invest in your future!

ⓘ 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: $954 · $80/mo
• Projected year-2 tax: $1,557 · $130/mo
• Expected delta: +$603/yr (+$50/mo · 63.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $22,146
• − Mortgage interest: −$10,637
• − Property taxes: −$954
• − Insurance: −$950
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$5,524
• Taxable income: $538
• Est. tax owed @ 24.0%: −$129
• After-tax cash flow: $3,513/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: Buckingham County Public School District
• NCES district ID: 5100540
• Math proficiency: 36% ▼ -38.00%
• Reading proficiency: 49% ▼ -12.00%
• Median HH income: $40,158
• Composite: 35.58/100
• National rank: #4897
• State rank: #117 of 131 in VA

Livability — Dillwyn

• Score: 60/100
• State rank: #435
• US rank: #18682

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,992

Population outlook (Buckingham County) Hauer SSP2

• Today (2025): 16,866 people
• By 2030: 16,625 · -1.4%
• By 2040: 16,108 · -4.5%
• By 2050: 15,588 · -7.6%
• By 2075: 14,125 · -16.3%
• By 2100: 11,701 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 53% Black 40% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1% Slovak 1% Scotch-Irish 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Buckingham

• 2024 margin: Strong R (+23.5) · D 37.8% · R 61.2% · Other 1.0%
• 2008→2024 swing: -24.4pp toward R · 2008: 0.9pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+13.2 2016: R+11.6 2012: D+2.4 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.71%
• Current HPI: 221.8804
• 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

+0.0% since first listed

6 events — show timeline

• 2026-06-12 Pending — SCAR
• 2026-06-12 Pending — CAAR
• 2026-06-12 Pending — CVRMLS
• 2026-05-14 Listed $189,900 SCAR
• 2026-05-13 Listed $189,900 CVRMLS
• 2026-05-13 Listed $189,900 CAAR

Property tax history

+9.2%/yr

Latest (2026): $954 · +135.2% YoY. Source: county tax records.