897 Southland Dr · Martinsville, VA 24112

$139,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 57 Days on market

Built 1977 0.47 ac lot $130/sqft · at area comps Est $142k · at est.

---

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 +19.3/30.0
• ARV discount +8.0/15.0
• DSCR +6.1/10.0
• Schools +4.7/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 897 Southland Drive—where front porch mornings and relaxed evenings come naturally. Tucked among mature trees near the end of a dead-end road, this inviting home offers a covered front porch that truly feels like an extension of the living space, perfect for rocking chairs, hanging plants, and unwinding. Inside, the living room is filled with natural light and flows into a spacious kitchen with abundant cabinetry and generous counter space—ideal for gathering and everyday living. With just under half an acre, this is one of the larger lots on the street, offering space to garden, play, or entertain. A small creek on the property adds to the natural setting and pe

Key facts

• Covered front porch
• Spacious kitchen
• Abundant cabinetry

Tags

• COVERED FRONT PORCH
• SPACIOUS KITCHEN
• ABUNDANT CABINETRY
• GENEROUS COUNTER SPACE
• LARGE OUTBUILDING

Property features AI

Exterior

• Parking: Asphalt parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story residential property; Vinyl siding
• Construction: Vinyl siding construction; Composition roof; Crawl space basement
• Exterior features: Porch; Creek on property; Outbuilding; Rolling slope lot

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Baseboard heating; Window cooling units
• Interior features: Laminate flooring
• Laundry & utility: Washer hookup; Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/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 $124k (11.5% below list).
• Recommended offer: $124k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 5.9% in Martinsville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#231 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools B; Watch: amenities F, commute F, employment D-.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 256 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($49k/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 $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Henry County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,850 (11.5% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.89% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

• ARV (median comp): $141,626
• List price: $139,900
• Delta: -1.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Pulliam Ct	0.14mi	3/1.5	1,048 (-3%)	1mo	$170,000	$162	86
720 Southland Dr	0.18mi	2/1.0 (-1)	1,036 (-4%)	11mo	$131,000	$126	71
839 Southland Dr	0.06mi	3/1.0	960 (-11%)	10mo	$166,296	$173	70
275 Southland Dr	0.47mi	3/1.0	960 (-11%)	0mo	$119,000	$124	59
232 Confederate Ave	0.49mi	3/1.0	960 (-11%)	1mo	$154,900	$161	58
167 Finley Dr	0.71mi	3/1.5	1,118 (+4%)	4mo	$155,000	$139	56
205 Southland Dr	0.54mi	3/1.0	960 (-11%)	3mo	$72,000	$75	54
801 Fisher Farm Rd	0.68mi	3/1.0	974 (-10%)	1mo	$78,000	$80	51
240 Southland Dr	0.51mi	3/1.5	1,008 (-7%)	14mo	$167,000	$166	51
1048 Joseph Martin Hwy	0.61mi	2/2.0 (-1)	1,132 (+5%)	5mo	$180,000	$159	50
101 Finley Dr	0.64mi	3/1.5	1,153 (+7%)	20mo	$150,000	$130	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-12,898
• Equity at exit: $20,860

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,160
• Equity at exit: $12,096

Cash invested: $39,172 (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 24112

• Active inventory: 256
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$32 /mo · $384/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $155

Break-even live

Break-even rent $1,043

Max offer price $139,900

Occupancy floor 83%

Sensitivity live

Price	-10% $234	-5% $194	+0% $155	+5% $115	+10% $75
Rent	-10% $57	-5% $106	+0% $155	+5% $203	+10% $252
Rate	-1.0pp $225	-0.5pp $190	base $155	+0.5pp $118	+1.0pp $81

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
885 Southland Dr Martinsville, VA	3.0	1.0	960	$1,500	$1.56	44d	1	0.03mi

Listing history 16 events

1. 2026-06-19
   days on market $139,900 Active 57 DOM
2. 2026-06-18
   days on market $139,900 Active 56 DOM
3. 2026-06-17
   days on market $139,900 Active 55 DOM
4. 2026-06-16
   days on market $139,900 Active 54 DOM
5. 2026-06-15
   days on market $139,900 Active 53 DOM
6. 2026-06-14
   days on market $139,900 Active 51 DOM
7. 2026-06-12
   days on market $139,900 Active 50 DOM
8. 2026-06-09
   days on market $139,900 Active 47 DOM
9. 2026-06-08
   days on market $139,900 Active 46 DOM
10. 2026-06-07
    days on market $139,900 Active 45 DOM
11. 2026-06-03
    days on market $139,900 Active 41 DOM
12. 2026-06-02
    days on market $139,900 Active 40 DOM
13. 2026-06-01
    days on market $139,900 Active 39 DOM
14. 2026-05-31
    days on market $139,900 Active 38 DOM
15. 2026-05-30
    days on market $139,900 Active 37 DOM
16. 2026-04-23
    listed $139,900 Active 1032-char remark

ⓘ 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: $384 · $32/mo
• Projected year-2 tax: $1,147 · $96/mo
• Expected delta: +$764/yr (+$64/mo · 199.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $14,862
• − Mortgage interest: −$7,837
• − Property taxes: −$384
• − Insurance: −$700
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$4,070
• Taxable loss: −$505
• Est. tax savings @ 24.0%: +$121
• After-tax cash flow: $1,975/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: Henry County Public School District
• NCES district ID: 5101920
• Math proficiency: 45% ▼ -37.00%
• Reading proficiency: 69% ▼ -6.00%
• Median HH income: $34,579
• Composite: 47.02/100
• National rank: #2345
• State rank: #78 of 131 in VA

Livability — Martinsville

• Score: 70/100
• State rank: #231
• US rank: #7826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Martinsville City · 31,028 people
• City population: 31,028
• Metro: Martinsville, VA
• Population (ZIP): 31,028
• Household income: $48,770
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 888.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 46,903 people
• By 2030: 44,141 · -5.9%
• By 2040: 38,687 · -17.5%
• By 2050: 33,742 · -28.1%
• By 2075: 25,720 · -45.2%
• By 2100: 19,868 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+32.8) · D 33.3% · R 66.1%
• 2008→2024 swing: -22.4pp toward R · 2008: -10.5pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.1 2016: R+29.2 2012: R+14.7 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.37%
• Current HPI: 172.4393
• Rent YoY: —
• Metro: Martinsville, 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

1 event — show timeline

• 2026-04-23 Listed $139,900 MHPCAR

Property tax history

+3.7%/yr

Latest (2025): $384 · +0.0% YoY. Source: county tax records.