304 W Sycamore St · Chase City, VA 23924

$155,000

3 bd · 3.0 ba · 2,508 sqft · SingleFamily public records · 100 Days on market

Built 1890 0.28 ac lot $62/sqft · at area comps Est $153k · at est. ↓ 27% since listing

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• ARV discount +6.8/15.0
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 2,508 sq ft home built in 1890, offering timeless character and plenty of space. This classic property features tall ceilings, expansive rooms, and historic styling throughout. Situated on a desirable corner lot, the home provides both curb appeal and functionality. Inside, you'll find large living areas that are perfect for entertaining or everyday living. The tall ceilings enhance the natural light and create an open, airy feel. The property also includes a fenced backyard, ideal for pets, gardening, or outdoor gatherings. With its combination of historic details and generous square footage, this home presents a wonderful opportunity to own a piece of history with room to make it your own.

Key facts

• Historic styling
• Large living areas
• Fenced backyard

Tags

• CORNER LOT
• FENCED BACKYARD
• LARGE LIVING AREAS
• HISTORIC STYLING

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 7.3% in Chase City — 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 70/100 on livability (#238 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (2.0% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $55k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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 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?
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.32%
• DSCR: 1.68
• GRM: 7.0

CMA / ARV

• ARV (median comp): $152,785
• List price: $155,000
• Delta: 1.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26420 Hwy 49	0.75mi	3/3.0	2,227 (-11%)	11mo	$275,000	$123	37
658 Bailey Dr	0.63mi	3/1.0	2,350 (-6%)	21mo	$186,000	$79	35
508 Berry St	0.69mi	3/2.5	2,224 (-11%)	16mo	$229,000	$103	34

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

Projected returns pro-forma

2.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.06×
• Total profit: $46,153
• Equity at exit: $61,468

10-year hold

• IRR: 21.7%
• Equity multiple: 3.88×
• Total profit: $124,775
• Equity at exit: $88,770

Cash invested: $43,400 (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 23924

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,846 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$27 /mo · $322/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $554

Break-even live

Break-even rent $1,145

Max offer price $155,000

Occupancy floor 65%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $155,000 Active 100 DOM
2. 2026-06-17
   days on market $155,000 Active 99 DOM
3. 2026-06-16
   pricedays on market $155,000 Active 98 DOM
4. 2026-06-15
   days on market $175,000 Active 97 DOM
5. 2026-06-14
   days on market $175,000 Active 95 DOM
6. 2026-06-13
   days on market $175,000 Active 94 DOM
7. 2026-06-10
   days on market $175,000 Active 92 DOM
8. 2026-06-09
   days on market $175,000 Active 91 DOM
9. 2026-06-08
   days on market $175,000 Active 90 DOM
10. 2026-06-07
    days on market $175,000 Active 89 DOM
11. 2026-06-05
    days on market $175,000 Active 86 DOM
12. 2026-06-03
    days on market $175,000 Active 85 DOM
13. 2026-06-02
    days on market $175,000 Active 84 DOM
14. 2026-06-01
    days on market $175,000 Active 83 DOM
15. 2026-05-31
    days on market $175,000 Active 82 DOM
16. 2026-05-31
    days on market $175,000 Active 81 DOM
17. 2026-04-22
    price $175,000 709-char remark

    Show marketing remark (715 chars)

    Charming 2,508 sq ft home built in 1890, offering timeless character and plenty of space. This classic property features tall ceilings, expansive rooms, and historic styling throughout. Situated on a desirable corner lot, the home provides both curb appeal and functionality. Inside, you’ll find large living areas that are perfect for entertaining or everyday living. The tall ceilings enhance the natural light and create an open, airy feel. The property also includes a fenced backyard, ideal for pets, gardening, or outdoor gatherings. With its combination of historic details and generous square footage, this home presents a wonderful opportunity to own a piece of history with room to make it your own.

18. 2026-04-22
    price $175,000 715-char remark

    Show marketing remark (715 chars)

    Charming 2,508 sq ft home built in 1890, offering timeless character and plenty of space. This classic property features tall ceilings, expansive rooms, and historic styling throughout. Situated on a desirable corner lot, the home provides both curb appeal and functionality. Inside, you’ll find large living areas that are perfect for entertaining or everyday living. The tall ceilings enhance the natural light and create an open, airy feel. The property also includes a fenced backyard, ideal for pets, gardening, or outdoor gatherings. With its combination of historic details and generous square footage, this home presents a wonderful opportunity to own a piece of history with room to make it your own.

19. 2026-03-10
    listed $210,000 Active 709-char remark

    Show marketing remark (709 chars)

    Charming 2,508 sq ft home built in 1890, offering timeless character and plenty of space. This classic property features tall ceilings, expansive rooms, and historic styling throughout. Situated on a desirable corner lot, the home provides both curb appeal and functionality. Inside, you'll find large living areas that are perfect for entertaining or everyday living. The tall ceilings enhance the natural light and create an open, airy feel. The property also includes a fenced backyard, ideal for pets, gardening, or outdoor gatherings. With its combination of historic details and generous square footage, this home presents a wonderful opportunity to own a piece of history with room to make it your own.

20. 2026-03-09
    status Active

    Show marketing remark (715 chars)

    Charming 2,508 sq ft home built in 1890, offering timeless character and plenty of space. This classic property features tall ceilings, expansive rooms, and historic styling throughout. Situated on a desirable corner lot, the home provides both curb appeal and functionality. Inside, you’ll find large living areas that are perfect for entertaining or everyday living. The tall ceilings enhance the natural light and create an open, airy feel. The property also includes a fenced backyard, ideal for pets, gardening, or outdoor gatherings. With its combination of historic details and generous square footage, this home presents a wonderful opportunity to own a piece of history with room to make it your own.

21. 2026-03-09
    listed $210,000 Active

    Show marketing remark (715 chars)

    Charming 2,508 sq ft home built in 1890, offering timeless character and plenty of space. This classic property features tall ceilings, expansive rooms, and historic styling throughout. Situated on a desirable corner lot, the home provides both curb appeal and functionality. Inside, you’ll find large living areas that are perfect for entertaining or everyday living. The tall ceilings enhance the natural light and create an open, airy feel. The property also includes a fenced backyard, ideal for pets, gardening, or outdoor gatherings. With its combination of historic details and generous square footage, this home presents a wonderful opportunity to own a piece of history with room to make it your own.

22. 2026-03-09
    listed $210,000 Active 715-char remark

    Show marketing remark (715 chars)

    Charming 2,508 sq ft home built in 1890, offering timeless character and plenty of space. This classic property features tall ceilings, expansive rooms, and historic styling throughout. Situated on a desirable corner lot, the home provides both curb appeal and functionality. Inside, you’ll find large living areas that are perfect for entertaining or everyday living. The tall ceilings enhance the natural light and create an open, airy feel. The property also includes a fenced backyard, ideal for pets, gardening, or outdoor gatherings. With its combination of historic details and generous square footage, this home presents a wonderful opportunity to own a piece of history with room to make it your own.

23. 2025-11-13
    price $214,000
24. 2025-10-14
    price $219,000
25. 2025-09-19
    listed $240,000 Active

ⓘ 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: $322 · $27/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$949/yr (+$79/mo · 294.5%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% 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: $22,152
• − Mortgage interest: −$8,682
• − Property taxes: −$322
• − Insurance: −$775
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$4,509
• Taxable income: $4,319
• Est. tax owed @ 24.0%: −$1,037
• After-tax cash flow: $5,612/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: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Chase City

• Score: 70/100
• State rank: #238
• US rank: #8038

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chase City, VA
• Population (ZIP): 5,709

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 36% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.04%
• Current HPI: 155.5959
• 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

-27.1% since first listed

9 events — show timeline

• 2026-04-22 Price Changed $175,000 SCAR
• 2026-04-22 Price Changed $175,000 CVRMLS
• 2026-03-10 Listed $210,000 SCAR
• 2026-03-09 Relisted — SCAR
• 2026-03-09 Listed $210,000 SCAR
• 2026-03-09 Listed $210,000 CVRMLS
• 2025-11-13 Price Changed $214,000 SCAR
• 2025-10-14 Price Changed $219,000 SCAR
• 2025-09-19 Listed $240,000 SCAR

Property tax history

+1.8%/yr

Latest (2025): $322 · +0.0% YoY. Source: county tax records.