1408 Overlook St · Richmond, VA 23224

$160,000

3 bd · 1.0 ba · 875 sqft · SingleFamily public records · 4 Days on market

Built 1946 6,499 sqft lot Est $192k · 17% under

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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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

Key facts

• 6,499 sq ft lot
• Parking
• Built 1946

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.5% vs local median 3.3% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Richmond City Public School District (urban): math 32% / reading 47% proficiency, ranked #123 of 131 in VA (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.5%/yr); 173 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 39% of the median local income ($50k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Richmond County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 23y 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.
• Current owner paid $67k; list at $160k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $160,000

Questions for the listing agent

1. Built in 1946 — 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 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?
4. 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?
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: 1.02% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.71%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $192,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1421 Drewry St	0.21mi	3/1.0	867 (-1%)	4mo	$205,000	$236	85
1700 Presson Blvd	0.23mi	3/1.0	888 (+2%)	3mo	$195,000	$220	84
2304 Oakland Pl	0.23mi	2/1.0 (-1)	884 (+1%)	4mo	$220,000	$249	79
1313 Chambers St	0.12mi	2/1.0 (-1)	912 (+4%)	5mo	$194,950	$214	78
2405 Royall Ave	0.40mi	3/1.0	864 (-1%)	2mo	$168,000	$194	78
1411 Lynhaven Ave	0.10mi	2/1.0 (-1)	780 (-11%)	4mo	$79,000	$101	69
1800 Ingram Ave	0.45mi	2/1.0 (-1)	900 (+3%)	2mo	$235,000	$261	68
2318 Gordon Ave	0.42mi	2/1.0 (-1)	912 (+4%)	3mo	$222,000	$243	66
2020 Ingram Ave	0.36mi	3/1.0	985 (+13%)	2mo	$157,000	$159	61
2005 Ingram Ave	0.41mi	2/1.0 (-1)	971 (+11%)	4mo	$165,000	$170	54
2209 Wright Ave	0.46mi	3/1.0	1,000 (+14%)	2mo	$233,000	$233	53
1718 Fairfax Ave	0.62mi	3/1.0	986 (+13%)	3mo	$184,950	$188	48

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 · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-5,062
• Equity at exit: $23,857

10-year hold

• IRR: 8.3%
• Equity multiple: 1.67×
• Total profit: $29,961
• Equity at exit: $13,834

Cash invested: $44,800 (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 23224

• Rents YoY: 4.5%
• Active inventory: 173
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,631 high
• Mortgage (P&I): −$839
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $288

Break-even live

Break-even rent $1,267

Max offer price $160,000

Occupancy floor 77%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 Chambers St Richmond, VA	2.0	1.0	966	$1,100	$1.14	23d	1	0.15mi
1410 Enfield Ave Unit 1410 Richmond, VA	3.0	1.0	912	$1,500	$1.64	43d	1	0.15mi
2208 Keswick Ave Richmond, VA	3.0	1.0	916	$1,775	$1.94	20d	1	0.21mi
2200 Ingram Ave Richmond, VA	2.0	1.0–2.0	711	$1,668	$2.35	4d	1	0.31mi
1100 Richmond Hwy Richmond, VA	1.0–3.0	1.0–2.0	1062	$2,345	$2.21	1d	16	0.49mi
2100 Wright Ave Richmond, VA	3.0	1.0	1014	$1,695	$1.67	2d	1	0.53mi
2200 Lynhaven Ave Richmond, VA	1.0–2.0	1.0	785	$1,230	$1.57	4d	2	0.60mi
2146 Afton Ave Richmond, VA	2.0	1.0	785	$1,080	$1.38	43d	1	0.60mi
1132 E 15th St Richmond, VA	2.0	1.0	672	$1,255	$1.87	10d	1	0.63mi
1808 Edwards Ave Richmond, VA	3.0	2.0	1040	$1,750	$1.68	23d	1	0.66mi
800 Richmond Hwy Richmond, VA	1.0–2.0	1.0–2.0	778	$2,044	$2.63	43d	1	0.66mi
1913 Dinwiddie Ave Unit 1546196P Richmond, VA	2.0	1.0	1044	$2,519	$2.41	14d	1	0.73mi
1801 Chicago Ave Richmond, VA	2.0	1.0	850	$995	$1.17	23d	1	0.82mi
622 E 18th St Richmond, VA	2.0	1.0	850	$995	$1.17	43d	1	0.83mi
1707 Chicago Ave Richmond, VA	2.0	1.0	750	$995	$1.33	43d	1	0.84mi
1125 Commerce Rd Richmond, VA	1.0–2.0	1.0–1.5	685	$1,409	$2.06	3d	5	0.90mi
2010 Maury St Richmond, VA	2.0	1.0	883	$1,675	$1.90	4d	1	0.91mi
2503 Lynhaven Ave Richmond, VA	2.0–3.0	1.0	750	$1,600	$2.13	1d	2	0.91mi
2908 Richmond Hwy Richmond, VA	1.0–2.0	1.0	592	$1,200	$2.03	2d	3	1.20mi
1021 E 4th St Richmond, VA	1.0–2.0	1.0–2.0	759	$1,449	$1.91	1d	87	1.23mi
10 W 27th St Unit P P Richmond, VA	2.0	1.0	975	$1,300	$1.33	43d	1	1.29mi
700 Everett St Richmond, VA	1.0–2.0	1.0–2.0	809	$1,849	$2.28	4d	14	1.34mi
1514 Bainbridge St Unit A Richmond, VA	2.0	1.0	800	$1,299	$1.62	11d	1	1.34mi
1422 Bainbridge St Richmond, VA	2.0	2.0	1121	$2,399	$2.14	2d	1	1.35mi
700 Stockton St Richmond, VA	1.0–2.0	1.0	1035	$1,805	$1.74	1d	31	1.40mi
500 Maury St Richmond, VA	2.0	1.0–2.0	665	$2,295	$3.45	3d	17	1.41mi
1207 Bainbridge St Richmond, VA	2.0	2.0	937	$2,250	$2.40	11d	1	1.46mi
1203 Bainbridge St Apt A Richmond, VA	2.0	2.0	927	$1,495	$1.61	43d	1	1.46mi
500 Stockton St Richmond, VA	1.0–2.0	1.0–2.0	748	$1,346	$1.80	3d	16	1.48mi
1212 Porter St Apt A Richmond, VA	2.0	2.0	980	$1,995	$2.04	4d	1	1.49mi

Listing history 20 events

1. 2026-03-22
   status Pending
2. 2026-03-17
   listed $160,000 Active
3. 2018-12-17
   soldstatus $67,000 Closed 120-char remark

   Show marketing remark (120 chars)

   Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

4. 2018-12-17
   soldstatus $67,000

   Show marketing remark (120 chars)

   Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

5. 2018-12-06
   status Pending 120-char remark

   Show marketing remark (120 chars)

   Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

6. 2018-11-05
   status Active 120-char remark

   Show marketing remark (120 chars)

   Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

7. 2018-10-30
   status Pending 120-char remark

   Show marketing remark (120 chars)

   Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

8. 2018-10-25
   status Active 120-char remark

   Show marketing remark (120 chars)

   Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

9. 2018-10-15
   status Pending 120-char remark

   Show marketing remark (120 chars)

   Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

10. 2018-09-17
    price $75,000 120-char remark

    Show marketing remark (120 chars)

    Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

11. 2018-08-22
    listed $80,000 Active 120-char remark

    Show marketing remark (120 chars)

    Property is being sold as-is, where-is. Heatpump was put in around 10 years ago. Property is tenant occupied at $750/mo.

12. 2006-08-09
    soldstatus $42,500 198-char remark

    Show marketing remark (198 chars)

    PROPERTY CONDITION IE $1175.00, CASE NUMBER 541-593736, GREAT AREA AND ON THE BUS LINE TOO, VINYL RANCH WITH 1/2 PORCH 12X6, DETACHED SHED 10X12, FENCED YARD, GAS STOVE AND CENTRAL A/C. 38000/36100

13. 2006-08-09
    soldstatus $42,500

    Show marketing remark (198 chars)

    PROPERTY CONDITION IE $1175.00, CASE NUMBER 541-593736, GREAT AREA AND ON THE BUS LINE TOO, VINYL RANCH WITH 1/2 PORCH 12X6, DETACHED SHED 10X12, FENCED YARD, GAS STOVE AND CENTRAL A/C. 38000/36100

14. 2006-05-23
    historical
15. 2006-05-23
    historical
16. 2006-02-17
    listed $40,000 198-char remark

    Show marketing remark (198 chars)

    PROPERTY CONDITION IE $1175.00, CASE NUMBER 541-593736, GREAT AREA AND ON THE BUS LINE TOO, VINYL RANCH WITH 1/2 PORCH 12X6, DETACHED SHED 10X12, FENCED YARD, GAS STOVE AND CENTRAL A/C. 38000/36100

17. 2006-02-17
    listed $40,000

    Show marketing remark (198 chars)

    PROPERTY CONDITION IE $1175.00, CASE NUMBER 541-593736, GREAT AREA AND ON THE BUS LINE TOO, VINYL RANCH WITH 1/2 PORCH 12X6, DETACHED SHED 10X12, FENCED YARD, GAS STOVE AND CENTRAL A/C. 38000/36100

18. 2003-03-13
    listed $34,500
19. 2003-03-13
    listed $34,500
20. 1974-01-17
    soldstatus $14,500

ⓘ 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: $1,140 · $95/mo
• Projected year-2 tax: $1,312 · $109/mo
• Expected delta: +$172/yr (+$14/mo · 15.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,571
• − Mortgage interest: −$8,962
• − Property taxes: −$1,140
• − Insurance: −$800
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$4,655
• Taxable income: $882
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $3,240/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: Richmond City Public School District
• NCES district ID: 5103240
• Math proficiency: 32% ▼ -24.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $40,276
• Composite: 33.09/100
• National rank: #5564
• State rank: #123 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, VA
• County: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 40,575
• Household income: $50,475
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3584.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 262,263 people
• By 2030: 284,503 · +8.5%
• By 2040: 327,353 · +24.8%
• By 2050: 367,946 · +40.3%
• By 2075: 449,560 · +71.4%
• By 2100: 500,301 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 22% White 15% Two or more races 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 17% · Canada
• Languages at home: 78% English-only · Spanish 19% French/Haitian/Cajun 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+66.3) · D 82.0% · R 15.8% · Other 2.2%
• 2008→2024 swing: +7.2pp toward D · 2008: 59.1pp · 2024: 66.3pp
• All cycles: 2024: D+66.3 2020: D+68.0 2016: D+63.8 2012: D+55.7 2008: D+59.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -283.99%
• Current HPI: 336.9345
• Rent YoY: ▲ 4.55%
• 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

+1003.4% since first listed

20 events — show timeline

• 2026-03-22 Pending — CVRMLS
• 2026-03-17 Listed $160,000 CVRMLS
• 2018-12-17 Sold (Public Records) $67,000 Public Records
• 2018-12-17 Sold (MLS) $67,000 CVRMLS
• 2018-12-06 Pending — CVRMLS
• 2018-11-05 Relisted — CVRMLS
• 2018-10-30 Pending — CVRMLS
• 2018-10-25 Relisted — CVRMLS
• 2018-10-15 Pending — CVRMLS
• 2018-09-17 Price Changed $75,000 CVRMLS
• 2018-08-22 Listed $80,000 CVRMLS
• 2006-08-09 Sold (MLS) $42,500 CVRMLS
• 2006-08-09 Sold (MLS) $42,500 CVRMLS
• 2006-05-23 Listing Removed — CVRMLS
• 2006-05-23 Listing Removed — CVRMLS
• 2006-02-17 Listed $40,000 CVRMLS
• 2006-02-17 Listed $40,000 CVRMLS
• 2003-03-13 Listed $34,500 CVRMLS
• 2003-03-13 Listed $34,500 CVRMLS
• 1974-01-17 Sold (Public Records) $14,500 Public Records

Property tax history

+7.2%/yr

Latest (2022): $1,140 · +111.1% YoY. Source: county tax records.