514 Franklin St · Colonial Beach, VA 22443

$319,000

4 bd · 2.0 ba · 1,000 sqft · SingleFamily · 47 Days on market

Built 1950 $319/sqft · at area comps Est $315k · at est.

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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 +14.0/30.0
• ARV discount +6.9/15.0
• Schools +4.6/10.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home! Don’t miss out on the chance to own a piece of history with this charming 1950s bungalow. Schedule your private tour today to experience the warmth and character of this wonderful home which offers 4 bedrooms and 2 bathrooms, perfect for family living, that second vacation cottage or moving into your next chapter. Built in 1950 this home has been recently renovated and well maintained. Just waiting for you to move in. Located in the heart of Colonial Beach this delightful home combines classic mid-century design with modern conveniences, offering a cozy and inviting space perfect for making lasting memories. Close to parks, schools, and shopping centers you’re sure to enjoy easy access to local events, farmers’ markets, and a nearby community center

Key facts

• Built 1950
• Listed 47 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric power
• Home design: Detached property; Effective year of major remodel 2025; Year built estimated
• Construction: Combination construction materials; Composite roof; Crawl space foundation; Above-grade other structures
• Exterior features: No tidal water

Interior

• Kitchen: Stove; Refrigerator; Dishwasher not listed
• Bedrooms: Two bedrooms on the main level; Two bedrooms on the upper level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump(s) for heating; Central air conditioning; Electric heating and cooling
• Interior features: Estimated living area; No basement
• Laundry & utility: Washer; Dryer; Electric hot water

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $319k.

Deal economics

• At list price, monthly cash flow is $42 ($498/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 $284k (10.9% below list).
• Recommended offer: $284k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.4% in Colonial Beach — 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 59/100 on livability (#460 in VA) — a working-class tenant base; expect higher turnover. Strengths: schools B, crime B, cost of living B; Watch: amenities F, commute F, health & safety F.
• Colonial Beach Public School District (town): math 42% / reading 68% proficiency, ranked #82 of 131 in VA (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 197 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 220 units permitted in Westmoreland County in 2024 (0 in 5+ unit buildings).
• At $2,843/mo this rent would consume 53% of the median local household income ($65k/yr) (locally 126% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Westmoreland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $255k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $284,313 (10.9% below list)

Questions for the listing agent

1. It's been on market 47 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 1950 — 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. 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?
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: 0.89% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $314,535
• List price: $319,000
• Delta: 1.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 Kintz St	0.05mi	3/1.0 (-1)	920 (-8%)	5mo	$277,500	$302	71
1115 Mckinney Blvd	0.38mi	3/2.0 (-1)	1,022 (+2%)	7mo	$289,999	$284	68
119 1st St	0.21mi	3/1.0 (-1)	962 (-4%)	9mo	$279,000	$290	68
418 Lincoln Ave	0.08mi	3/2.0 (-1)	1,084 (+8%)	13mo	$314,500	$290	67
114 5th St	0.43mi	3/1.0 (-1)	975 (-2%)	6mo	$294,000	$302	62
310 Franklin St	0.14mi	3/1.0 (-1)	912 (-9%)	10mo	$250,000	$274	62
517 Billingsley	0.02mi	3/1.0 (-1)	1,144 (+14%)	8mo	$172,800	$151	60
618 Franklin St	0.09mi	3/2.0 (-1)	1,103 (+10%)	20mo	$315,000	$286	57
150 5th	0.40mi	3/1.0 (-1)	981 (-2%)	15mo	$290,000	$296	57
309 2nd St	0.30mi	3/1.0 (-1)	928 (-7%)	12mo	$269,500	$290	55
126 5th St	0.42mi	3/2.0 (-1)	1,120 (+12%)	20mo	$310,000	$277	39
300 Weems	0.67mi	3/1.0 (-1)	1,100 (+10%)	6mo	$375,000	$341	38

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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-49,003
• Equity at exit: $47,564

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-39,091
• Equity at exit: $27,581

Cash invested: $89,320 (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 22443

• Active inventory: 197
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,843 medium
• Mortgage (P&I): −$1,673
• Tax est. 1.5%: −$399 /mo · $4,785/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $42

Break-even live

Break-even rent $2,791

Max offer price $319,000

Occupancy floor 94%

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Jackson St Colonial Beach, VA	3.0	2.0	1200	$2,900	$2.42	11d	1	0.09mi
3214 Riverview Dr Colonial Beach, VA	3.0	1.5	1248	$2,150	$1.72	12d	1	1.42mi
217 Mimosa Ave Colonial Beach, VA	3.0	2.0	1060	$1,895	$1.79	23d	1	1.42mi

Listing history 30 events

1. 2026-06-18
   days on market $319,000 Active 47 DOM
2. 2026-06-17
   days on market $319,000 Active 46 DOM
3. 2026-06-16
   days on market $319,000 Active 45 DOM
4. 2026-06-15
   days on market $319,000 Active 44 DOM
5. 2026-06-14
   days on market $319,000 Active 42 DOM
6. 2026-06-10
   days on market $319,000 Active 39 DOM
7. 2026-06-09
   days on market $319,000 Active 38 DOM
8. 2026-06-08
   days on market $319,000 Active 37 DOM
9. 2026-06-07
   days on market $319,000 Active 36 DOM
10. 2026-06-05
    days on market $319,000 Active 33 DOM
11. 2026-06-03
    days on market $319,000 Active 32 DOM
12. 2026-06-02
    days on market $319,000 Active 31 DOM
13. 2026-06-01
    days on market $319,000 Active 30 DOM
14. 2026-05-31
    days on market $319,000 Active 29 DOM
15. 2026-05-31
    days on market $319,000 Active 28 DOM
16. 2026-05-03
    listed $329,900 Active 982-char remark
17. 2026-04-30
    historical $329,900 982-char remark
18. 2024-08-16
    soldstatus $255,000 Closed 803-char remark

    Show marketing remark (803 chars)

    Welcome to your new home! Don’t miss out on the chance to own a piece of history with this charming 1950s bungalow. Schedule your private tour today to experience the warmth and character of this wonderful home which offers 4 bedrooms and 2 bathrooms, perfect for family living, that second vacation cottage or moving into your next chapter. Built in 1950 this home has been recently renovated and well maintained. Just waiting for you to move in. Located in the heart of Colonial Beach this delightful home combines classic mid-century design with modern conveniences, offering a cozy and inviting space perfect for making lasting memories. Close to parks, schools, and shopping centers you’re sure to enjoy easy access to local events, farmers’ markets, and a nearby community center

19. 2024-07-26
    historical Active Under Contract 803-char remark

    Show marketing remark (803 chars)

    Welcome to your new home! Don’t miss out on the chance to own a piece of history with this charming 1950s bungalow. Schedule your private tour today to experience the warmth and character of this wonderful home which offers 4 bedrooms and 2 bathrooms, perfect for family living, that second vacation cottage or moving into your next chapter. Built in 1950 this home has been recently renovated and well maintained. Just waiting for you to move in. Located in the heart of Colonial Beach this delightful home combines classic mid-century design with modern conveniences, offering a cozy and inviting space perfect for making lasting memories. Close to parks, schools, and shopping centers you’re sure to enjoy easy access to local events, farmers’ markets, and a nearby community center

20. 2024-07-10
    listed $259,900 Active 803-char remark

    Show marketing remark (803 chars)

    Welcome to your new home! Don’t miss out on the chance to own a piece of history with this charming 1950s bungalow. Schedule your private tour today to experience the warmth and character of this wonderful home which offers 4 bedrooms and 2 bathrooms, perfect for family living, that second vacation cottage or moving into your next chapter. Built in 1950 this home has been recently renovated and well maintained. Just waiting for you to move in. Located in the heart of Colonial Beach this delightful home combines classic mid-century design with modern conveniences, offering a cozy and inviting space perfect for making lasting memories. Close to parks, schools, and shopping centers you’re sure to enjoy easy access to local events, farmers’ markets, and a nearby community center

21. 2022-12-14
    historical
22. 2022-09-16
    soldstatus $215,000 Closed

    Show marketing remark (337 chars)

    This 4-bedroom home has a spacious front porch to sip your morning coffee/tea or waive at the neighbors. The backyard is large enough for playing with pets, hosting a happy hour, or enjoying quiet solitude. With new flooring, new washer/dryer, and fresh paint, very little needs to be done. All this just a few short blocks to the beach!

23. 2022-08-01
    historical Active Under Contract

    Show marketing remark (337 chars)

    This 4-bedroom home has a spacious front porch to sip your morning coffee/tea or waive at the neighbors. The backyard is large enough for playing with pets, hosting a happy hour, or enjoying quiet solitude. With new flooring, new washer/dryer, and fresh paint, very little needs to be done. All this just a few short blocks to the beach!

24. 2022-07-19
    listed $215,000 Active

    Show marketing remark (337 chars)

    This 4-bedroom home has a spacious front porch to sip your morning coffee/tea or waive at the neighbors. The backyard is large enough for playing with pets, hosting a happy hour, or enjoying quiet solitude. With new flooring, new washer/dryer, and fresh paint, very little needs to be done. All this just a few short blocks to the beach!

25. 2007-03-30
    soldstatus $170,000
26. 2007-02-12
    historical
27. 2007-02-12
    listed $170,000
28. 2004-09-30
    soldstatus $110,000
29. 2004-08-14
    historical
30. 2004-03-07
    listed $130,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 17 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: $34,118
• − Mortgage interest: −$17,869
• − Property taxes: −$4,785
• − Insurance: −$1,595
• − Repairs & maintenance: −$2,729
• − Management: −$2,729
• − Depreciation: −$9,280
• Taxable loss: −$4,870
• Est. tax savings @ 24.0%: +$1,169
• After-tax cash flow: $1,667/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: Colonial Beach Public School District
• NCES district ID: 5100930
• Math proficiency: 42% ▼ -35.00%
• Reading proficiency: 68% ▼ -4.00%
• Median HH income: $45,397
• Composite: 46.38/100
• National rank: #2459
• State rank: #82 of 131 in VA

Livability — Colonial Beach

• Score: 59/100
• State rank: #460
• US rank: #19615

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colonial Beach, VA
• County: Westmoreland County · 10,011 people
• City population: 10,011
• Metro: nan
• Population (ZIP): 10,011
• Household income: $64,810
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 126.0

Population outlook (Westmoreland County) Hauer SSP2

• Today (2025): 17,643 people
• By 2030: 17,520 · -0.7%
• By 2040: 17,041 · -3.4%
• By 2050: 16,397 · -7.1%
• By 2075: 15,012 · -14.9%
• By 2100: 12,917 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 2% Scotch-Irish 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Westmoreland

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -24.5pp toward R · 2008: 10.2pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+8.2 2016: R+7.3 2012: D+0.5 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.23%
• Current HPI: 152.1518
• Rent YoY: —
• Metro: nan
• 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

+145.4% since first listed

16 events — show timeline

• 2026-05-21 Price Changed $319,000 BRIGHT MLS
• 2026-05-03 Listed $329,900 BRIGHT MLS
• 2026-04-30 Coming Soon $329,900 BRIGHT MLS
• 2024-08-16 Sold (MLS) $255,000 BRIGHT MLS
• 2024-07-26 Contingent — BRIGHT MLS
• 2024-07-10 Listed $259,900 BRIGHT MLS
• 2022-12-14 Rental Removed — BRIGHTMLS
• 2022-09-16 Sold (MLS) $215,000 BRIGHT MLS
• 2022-08-01 Contingent — BRIGHT MLS
• 2022-07-19 Listed $215,000 BRIGHT MLS
• 2007-03-30 Sold (MLS) $170,000 MRIS
• 2007-02-12 Listed $170,000 MRIS
• 2007-02-12 Delisted — MRIS
• 2004-09-30 Sold (MLS) $110,000 MRIS
• 2004-08-14 Delisted — MRIS
• 2004-03-07 Listed $130,000 MRIS