3418 Salem Rd Rd · Concord, VA 24593

$209,900

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 19 Days on market

Built 2018 2.01 ac lot ↓ 13% 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).

• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 1% rule +1.2/10.0

Listing remarks MLS

Location, location, location! Only 2 miles off Rt 460, convenient to Appomattox and Lynchburg. Upgrades include, new appliances (all convey), new flooring, fresh paint, upgraded countertop in master bath, walk in closets, new mini blinds installed throughout and new exterior door. Home boasts open floor plan, walk in pantry, large rooms and is nestled on nice level lot where the kids can run and play. Call for your showings today!

Key facts

• Open floor plan
• Walk-in closet
• Large bathroom

Tags

• OPEN FLOOR PLAN
• LARGE LIVING SPACE
• SPACIOUS KITCHEN DINING AREA
• LARGE BATHROOM
• WALK-IN CLOSET
• CLEAR 2 ACRE LOT

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Private well water; Septic tank
• Home design: Single-family residence; 1 story
• Construction: Vinyl siding; Crawl space foundation; Built area above grade: 1,512
• Exterior features: Deck; Porch; Shingle roof

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating
• Interior features: Dishwasher; Electric range; Refrigerator; Electric water heater; Smoke detector(s)
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $-222 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (18.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (38.5% below list).
• Recommended offer: $129k (38.5% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.0% in Concord — 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 65/100 on livability (#335 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: employment C-, health & safety C-, amenities F.
• Appomattox County Public School District (rural): math 53% / reading 69% proficiency, ranked #56 of 131 in VA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Appomattox Elementary (math 50% / reading 65%, grade C+, #588 of 1,108 statewide, top 54%, 531 students, 74% FRL); Appomattox Middle (math 49% / reading 68%, grade B, #171 of 342 statewide, top 50%, 539 students, 74% FRL); Appomattox County High (math 77% / reading 87%, grade A, #40 of 319 statewide, top 15%, 699 students, 73% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 14 active listings in the ZIP; 95 units permitted in Appomattox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (4.1% local appreciation)).
• Appomattox County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,158 (38.5% 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. 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. 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?
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: 0.62% ✗
• Cap rate: 5.02%
• Cash-on-cash: -4.54%
• DSCR: 0.80
• GRM: 13.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.39×
• Total profit: $23,071
• Equity at exit: $107,197

10-year hold

• IRR: 8.8%
• Equity multiple: 2.49×
• Total profit: $87,631
• Equity at exit: $175,951

Cash invested: $58,772 (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 24593

• Home prices YoY: 2.1%
• Active inventory: 14
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $1,292 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$54 /mo · $653/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-222

Break-even live

Break-even rent $1,573

Max offer price $170,642

Occupancy floor —

Sensitivity live

Price	-10% $-103	-5% $-163	+0% $-222	+5% $-282	+10% $-341
Rent	-10% $-324	-5% $-273	+0% $-222	+5% $-171	+10% $-120
Rate	-1.0pp $-117	-0.5pp $-169	base $-222	+0.5pp $-277	+1.0pp $-332

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $209,900 Active 19 DOM
2. 2026-06-19
   days on market $209,900 Active 17 DOM
3. 2026-06-18
   days on market $209,900 Active 16 DOM
4. 2026-06-17
   days on market $209,900 Active 15 DOM
5. 2026-06-16
   days on market $209,900 Active 14 DOM
6. 2026-06-15
   days on market $209,900 Active 13 DOM
7. 2026-06-14
   days on market $209,900 Active 11 DOM
8. 2026-06-13
   days on market $209,900 Active 10 DOM
9. 2026-06-10
   days on market $209,900 Active 8 DOM
10. 2026-06-09
    days on market $209,900 Active 7 DOM
11. 2026-06-09
    price $209,900 Active 6 DOM
12. 2026-06-08
    days on market $219,900 Active 6 DOM
13. 2026-06-07
    days on market $219,900 Active 5 DOM
14. 2026-06-03
    pricedays on marketlisting id $219,900 Active 1 DOM
15. 2026-06-01
    days on market $229,900 Active 178 DOM
16. 2026-05-31
    days on market $229,900 Active 177 DOM
17. 2026-05-30
    days on market $229,900 Active 176 DOM
18. 2026-04-30
    status Active 389-char remark
19. 2026-03-19
    status Pending 389-char remark
20. 2026-03-05
    price $229,900 389-char remark
21. 2026-02-09
    status Active 389-char remark
22. 2025-12-19
    price $239,900 389-char remark
23. 2025-12-06
    price $244,900 389-char remark
24. 2025-10-16
    listed $249,900 Active 389-char remark
25. 2024-08-02
    soldstatus $240,000 Closed 435-char remark

    Show marketing remark (435 chars)

    Location, location, location! Only 2 miles off Rt 460, convenient to Appomattox and Lynchburg. Upgrades include, new appliances (all convey), new flooring, fresh paint, upgraded countertop in master bath, walk in closets, new mini blinds installed throughout and new exterior door. Home boasts open floor plan, walk in pantry, large rooms and is nestled on nice level lot where the kids can run and play. Call for your showings today!

26. 2024-08-01
    soldstatus $240,000
27. 2024-07-30
    soldstatus $240,000 Closed
28. 2024-06-19
    status Pending

    Show marketing remark (435 chars)

    Location, location, location! Only 2 miles off Rt 460, convenient to Appomattox and Lynchburg. Upgrades include, new appliances (all convey), new flooring, fresh paint, upgraded countertop in master bath, walk in closets, new mini blinds installed throughout and new exterior door. Home boasts open floor plan, walk in pantry, large rooms and is nestled on nice level lot where the kids can run and play. Call for your showings today!

29. 2024-06-19
    status Pending 435-char remark

    Show marketing remark (435 chars)

    Location, location, location! Only 2 miles off Rt 460, convenient to Appomattox and Lynchburg. Upgrades include, new appliances (all convey), new flooring, fresh paint, upgraded countertop in master bath, walk in closets, new mini blinds installed throughout and new exterior door. Home boasts open floor plan, walk in pantry, large rooms and is nestled on nice level lot where the kids can run and play. Call for your showings today!

30. 2024-06-07
    listed $239,900 Active 435-char remark

    Show marketing remark (435 chars)

    Location, location, location! Only 2 miles off Rt 460, convenient to Appomattox and Lynchburg. Upgrades include, new appliances (all convey), new flooring, fresh paint, upgraded countertop in master bath, walk in closets, new mini blinds installed throughout and new exterior door. Home boasts open floor plan, walk in pantry, large rooms and is nestled on nice level lot where the kids can run and play. Call for your showings today!

31. 2024-06-07
    listed $239,900 Active

    Show marketing remark (435 chars)

    Location, location, location! Only 2 miles off Rt 460, convenient to Appomattox and Lynchburg. Upgrades include, new appliances (all convey), new flooring, fresh paint, upgraded countertop in master bath, walk in closets, new mini blinds installed throughout and new exterior door. Home boasts open floor plan, walk in pantry, large rooms and is nestled on nice level lot where the kids can run and play. Call for your showings 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: $653 · $54/mo
• Projected year-2 tax: $1,721 · $143/mo
• Expected delta: +$1,068/yr (+$89/mo · 163.7%)

ⓘ 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 ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $15,499
• − Mortgage interest: −$11,758
• − Property taxes: −$653
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − Depreciation: −$6,106
• Taxable loss: −$6,547
• Est. tax savings @ 24.0%: +$1,571
• After-tax cash flow: $-1,096/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: Appomattox County Public School District
• NCES district ID: 5100240
• Math proficiency: 53% ▼ -31.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $50,059
• Composite: 51.85/100
• National rank: #1663
• State rank: #56 of 131 in VA

Livability — Concord

• Score: 65/100
• State rank: #335
• US rank: #12864

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,098

Population outlook (Appomattox County) Hauer SSP2

• Today (2025): 16,213 people
• By 2030: 16,548 · +2.1%
• By 2040: 17,047 · +5.1%
• By 2050: 17,286 · +6.6%
• By 2075: 17,710 · +9.2%
• By 2100: 16,609 · +2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 13% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Serbian 3% Iranian 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Appomattox

• 2024 margin: Solid R (+51.0) · D 24.1% · R 75.1%
• 2008→2024 swing: -21.4pp toward R · 2008: -29.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+46.2 2016: R+46.4 2012: R+36.4 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.06%
• Current HPI: 198.4295
• 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

-12.5% since first listed

16 events — show timeline

• 2026-06-08 Price Changed $209,900 LMLS
• 2026-06-02 Listed $219,900 LMLS
• 2026-04-30 Relisted — LMLS
• 2026-03-19 Pending — LMLS
• 2026-03-05 Price Changed $229,900 LMLS
• 2026-02-09 Relisted — LMLS
• 2025-12-19 Price Changed $239,900 LMLS
• 2025-12-06 Price Changed $244,900 LMLS
• 2025-10-16 Listed $249,900 LMLS
• 2024-08-02 Sold (MLS) $240,000 SCAR
• 2024-08-01 Sold (Public Records) $240,000 Public Records
• 2024-07-30 Sold (MLS) $240,000 LMLS
• 2024-06-19 Pending — LMLS
• 2024-06-19 Pending — SCAR
• 2024-06-07 Listed $239,900 LMLS
• 2024-06-07 Listed $239,900 SCAR

Property tax history

+18.6%/yr

Latest (2025): $653 · +0.0% YoY. Source: county tax records.