301 E Virginia Ave · Crewe, VA 23930

$140,000

4 bd · 2.0 ba · 2,393 sqft · SingleFamily · 157 Days on market

Built 1900 0.30 ac lot $59/sqft · 34% below area Est $212k · 34% 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 +4.8/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into timeless character with this unique Queen Anne–style Victorian, offering fantastic investment potential. The inviting entry showcases a substantial staircase, original moldings, and beautiful woodwork, with hardwood floors extending throughout much of the home. The spacious living room is filled with light from large windows and centers around a coal fireplace with an ornate mantel. A large formal dining room easily accommodates a full-size table and additional furnishings, making it ideal for gatherings. The kitchen is generously sized with ample counter space and essential appliances. A utility room includes a washer and dryer, along with an adjacent bathroom featuring an oversized clawfoot soaking tub and step-in shower. A comfortable bedroom on the main level adds flexibility. Upstairs offers three additional spacious bedrooms, a full bath, a useful trunk room, and an observation porch. Outside, enjoy a relaxing porch, a fully fenced backyard, and a metal workshop with electricity, and concrete floor. Conveniently located within walking distance to downtown, this fixer-upper presents a rare opportunity to restore and create something truly special. Sold AS IS.

Key facts

• Ornate mantel
• Beautiful woodwork
• Coal fireplace

Tags

• QUEEN ANNE STYLE VICTORIAN
• SUBSTANTIAL STAIRCASE
• ORIGINAL MOLDINGS
• BEAUTIFUL WOODWORK
• COAL FIREPLACE
• ORNATE MANTEL

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/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 $138k (1.7% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#389 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Nottoway County Public School District (rural): math 34% / reading 59% proficiency, ranked #109 of 131 in VA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crewe Primary (math 37% / reading 57%, grade D-, #794 of 1,108 statewide, top 74%, 368 students, 101% FRL); Nottoway Middle (math 30% / reading 55%, grade D-, #291 of 342 statewide, top 86%, 263 students, 98% FRL); Nottoway High (math 37% / reading 72%, grade C-, #281 of 319 statewide, top 90%, 536 students, 98% FRL) — zoned schools average 99% FRL vs 56% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 41 active listings in the ZIP; 57 units permitted in Nottoway County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Nottoway County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 20% 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. Crime grade is F 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?
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: 0.98% ✗
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 8.5

CMA / ARV

• ARV (median comp): $212,385
• List price: $140,000
• Delta: -34.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 E Tennessee Ave	0.15mi	3/3.0 (-1)	2,400 (+0%)	5mo	$299,900	$125	80
408 E Carolina Ave	0.14mi	4/2.5	2,275 (-5%)	14mo	$267,900	$118	71
601 E Carolina Ave	0.36mi	4/3.0	2,558 (+7%)	2mo	$230,000	$90	66
105 Cabell St	0.46mi	3/2.0 (-1)	2,292 (-4%)	6mo	$274,400	$120	62
109 E Maryland Ave	0.26mi	3/1.5 (-1)	2,160 (-10%)	7mo	$215,000	$100	59
604 E Maryland Ave	0.42mi	5/3.0 (+1)	2,380 (-0%)	15mo	$250,000	$105	58
400 E California Ave	0.41mi	3/2.5 (-1)	2,107 (-12%)	6mo	$255,000	$121	49
200 Nelson St	0.49mi	3/2.5 (-1)	2,096 (-12%)	11mo	$245,000	$117	41
119 Gatewood Ave	0.64mi	5/2.5 (+1)	2,680 (+12%)	15mo	$365,000	$136	31

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-6,765
• Equity at exit: $20,874

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $14,445
• Equity at exit: $12,105

Cash invested: $39,200 (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 23930

• Home prices YoY: -14.3%
• Active inventory: 41
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,376 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$44 /mo · $526/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $251

Break-even live

Break-even rent $1,059

Max offer price $140,000

Occupancy floor 77%

Sensitivity live

Price	-10% $330	-5% $291	+0% $251	+5% $211	+10% $172
Rent	-10% $142	-5% $197	+0% $251	+5% $305	+10% $360
Rate	-1.0pp $321	-0.5pp $287	base $251	+0.5pp $215	+1.0pp $178

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $140,000 Active 157 DOM
2. 2026-06-21
   days on market $140,000 Active 156 DOM
3. 2026-06-21
   days on market $140,000 Active 155 DOM
4. 2026-06-18
   days on market $140,000 Active 153 DOM
5. 2026-06-17
   days on market $140,000 Active 152 DOM
6. 2026-06-16
   days on market $140,000 Active 151 DOM
7. 2026-06-15
   days on market $140,000 Active 150 DOM
8. 2026-06-15
   days on market $140,000 Active 149 DOM
9. 2026-06-13
   days on market $140,000 Active 148 DOM
10. 2026-06-12
    days on market $140,000 Active 147 DOM
11. 2026-06-09
    days on market $140,000 Active 144 DOM
12. 2026-06-08
    days on market $140,000 Active 143 DOM
13. 2026-06-08
    days on market $140,000 Active 142 DOM
14. 2026-06-05
    days on market $140,000 Active 140 DOM
15. 2026-06-03
    days on market $140,000 Active 138 DOM
16. 2026-06-02
    days on market $140,000 Active 137 DOM
17. 2026-06-01
    days on market $140,000 Active 136 DOM
18. 2026-05-31
    days on market $140,000 Active 135 DOM
19. 2026-01-16
    listed $140,000 Active 1198-char remark

    Show marketing remark (1198 chars)

    Step into timeless character with this unique Queen Anne–style Victorian, offering fantastic investment potential. The inviting entry showcases a substantial staircase, original moldings, and beautiful woodwork, with hardwood floors extending throughout much of the home. The spacious living room is filled with light from large windows and centers around a coal fireplace with an ornate mantel. A large formal dining room easily accommodates a full-size table and additional furnishings, making it ideal for gatherings. The kitchen is generously sized with ample counter space and essential appliances. A utility room includes a washer and dryer, along with an adjacent bathroom featuring an oversized clawfoot soaking tub and step-in shower. A comfortable bedroom on the main level adds flexibility. Upstairs offers three additional spacious bedrooms, a full bath, a useful trunk room, and an observation porch. Outside, enjoy a relaxing porch, a fully fenced backyard, and a metal workshop with electricity, and concrete floor. Conveniently located within walking distance to downtown, this fixer-upper presents a rare opportunity to restore and create something truly special. Sold AS IS.

ⓘ 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: $526 · $44/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$622/yr (+$52/mo · 118.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 20% 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: $16,515
• − Mortgage interest: −$7,842
• − Property taxes: −$526
• − Insurance: −$700
• − Repairs & maintenance: −$1,321
• − Management: −$1,321
• − Depreciation: −$4,073
• Taxable income: $732
• Est. tax owed @ 24.0%: −$176
• After-tax cash flow: $2,835/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: Nottoway County Public School District
• NCES district ID: 5102790
• Math proficiency: 34% ▼ -38.00%
• Reading proficiency: 59% ▼ -12.00%
• Median HH income: $38,125
• Composite: 38.65/100
• National rank: #4153
• State rank: #109 of 131 in VA

Livability — Crewe

• Score: 63/100
• State rank: #389
• US rank: #15947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crewe, VA
• Population (ZIP): 5,258

Population outlook (Nottoway County) Hauer SSP2

• Today (2025): 15,190 people
• By 2030: 14,867 · -2.1%
• By 2040: 13,993 · -7.9%
• By 2050: 12,924 · -14.9%
• By 2075: 10,416 · -31.4%
• By 2100: 7,281 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 33% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Serbian 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Nottoway

• 2024 margin: Strong R (+22.4) · D 38.5% · R 60.8%
• 2008→2024 swing: -21.1pp toward R · 2008: -1.2pp · 2024: -22.4pp
• All cycles: 2024: R+22.4 2020: R+14.9 2016: R+13.1 2012: R+0.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.50%
• Current HPI: 182.7855
• 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

1 event — show timeline

• 2026-01-16 Listed $140,000 SCAR

Property tax history

+0.4%/yr

Latest (2025): $526 · +6.7% YoY. Source: county tax records.