5367 James Madison Hwy · Palmyra, VA 23055

$225,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 112 Days on market

Built 1936 5,227 sqft lot $223/sqft · 23% below area Est $294k · 23% under

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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).

• ARV discount +15.0/15.0
• Cash flow +6.7/30.0
• Appreciation +5.8/10.0
• Schools +5.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0
• 1% rule +0.4/10.0

Listing remarks MLS

Welcome home to this beautifully remodeled 2-bedroom, 1-bath bungalow in Fluvanna County! Thoughtfully updated from top to bottom, this charming home blends modern upgrades with classic bungalow appeal, offering move-in ready convenience and low-maintenance living. Step inside to discover a bright, open living space featuring fresh paint, updated flooring, and abundant natural light. The fully renovated kitchen boasts new cabinetry, countertops, and appliances, creating a stylish and functional space for everyday living. Whether you're a first-time buyer or downsizing this turnkey bungalow offers exceptional value in a convenient Fluvanna County location. Schedule your showing today and experience all this charming home has to offer!

Key facts

• Updated flooring
• New cabinetry
• Remodeled bungalow

Tags

• REMODELED BUNGALOW
• UPDATED FLOORING
• FULLY RENOVATED KITCHEN
• NEW CABINETRY
• ABUNDANT NATURAL LIGHT
• MOVE-IN READY CONVENIENCE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-364 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (28.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (46.1% below list).
• Recommended offer: $121k (46.1% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 2.9% in Palmyra — 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 49/100 on livability (#556 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A, schools B+; Watch: amenities F, commute F, employment F.
• Fluvanna County Public School District (rural): math 61% / reading 71% proficiency, ranked #34 of 131 in VA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 15 active listings in the ZIP; 138 units permitted in Fluvanna County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $4k appreciation (1.6% local appreciation)).
• By year 7, 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 112 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $75k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $225k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,259 (46.1% 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. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.54% ✗
• Cap rate: 4.35%
• Cash-on-cash: -6.94%
• DSCR: 0.69
• GRM: 15.5

CMA / ARV

• ARV (median comp): $293,716
• List price: $225,000
• Delta: -23.40%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

1.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.81×
• Total profit: $-12,059
• Equity at exit: $84,330

10-year hold

• IRR: 1.2%
• Equity multiple: 1.16×
• Total profit: $10,297
• Equity at exit: $118,131

Cash invested: $63,000 (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 23055

• Home prices YoY: 0.9%
• Active inventory: 15
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$49 /mo · $584/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-364

Break-even live

Break-even rent $1,674

Max offer price $160,626

Occupancy floor —

Sensitivity live

Price	-10% $-237	-5% $-301	+0% $-364	+5% $-428	+10% $-492
Rent	-10% $-460	-5% $-412	+0% $-364	+5% $-317	+10% $-269
Rate	-1.0pp $-251	-0.5pp $-307	base $-364	+0.5pp $-423	+1.0pp $-482

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $225,000 Active 112 DOM
2. 2026-06-18
   days on market $225,000 Active 111 DOM
3. 2026-06-17
   days on market $225,000 Active 110 DOM
4. 2026-06-16
   days on market $225,000 Active 109 DOM
5. 2026-06-15
   days on market $225,000 Active 108 DOM
6. 2026-06-14
   days on market $225,000 Active 106 DOM
7. 2026-06-13
   days on market $225,000 Active 105 DOM
8. 2026-06-10
   days on market $225,000 Active 103 DOM
9. 2026-06-09
   days on market $225,000 Active 102 DOM
10. 2026-06-08
    days on market $225,000 Active 101 DOM
11. 2026-06-07
    days on market $225,000 Active 100 DOM
12. 2026-06-02
    days on market $225,000 Active 95 DOM
13. 2026-06-01
    days on market $225,000 Active 94 DOM
14. 2026-05-31
    days on market $225,000 Active 93 DOM
15. 2026-05-30
    days on market $225,000 Active 92 DOM
16. 2026-05-07
    price $225,000 743-char remark

    Show marketing remark (743 chars)

    Welcome home to this beautifully remodeled 2-bedroom, 1-bath bungalow in Fluvanna County! Thoughtfully updated from top to bottom, this charming home blends modern upgrades with classic bungalow appeal, offering move-in ready convenience and low-maintenance living. Step inside to discover a bright, open living space featuring fresh paint, updated flooring, and abundant natural light. The fully renovated kitchen boasts new cabinetry, countertops, and appliances, creating a stylish and functional space for everyday living. Whether you're a first-time buyer or downsizing this turnkey bungalow offers exceptional value in a convenient Fluvanna County location. Schedule your showing today and experience all this charming home has to offer!

17. 2026-04-08
    price $250,000 743-char remark

    Show marketing remark (743 chars)

    Welcome home to this beautifully remodeled 2-bedroom, 1-bath bungalow in Fluvanna County! Thoughtfully updated from top to bottom, this charming home blends modern upgrades with classic bungalow appeal, offering move-in ready convenience and low-maintenance living. Step inside to discover a bright, open living space featuring fresh paint, updated flooring, and abundant natural light. The fully renovated kitchen boasts new cabinetry, countertops, and appliances, creating a stylish and functional space for everyday living. Whether you're a first-time buyer or downsizing this turnkey bungalow offers exceptional value in a convenient Fluvanna County location. Schedule your showing today and experience all this charming home has to offer!

18. 2026-03-07
    price $275,000 743-char remark

    Show marketing remark (743 chars)

    Welcome home to this beautifully remodeled 2-bedroom, 1-bath bungalow in Fluvanna County! Thoughtfully updated from top to bottom, this charming home blends modern upgrades with classic bungalow appeal, offering move-in ready convenience and low-maintenance living. Step inside to discover a bright, open living space featuring fresh paint, updated flooring, and abundant natural light. The fully renovated kitchen boasts new cabinetry, countertops, and appliances, creating a stylish and functional space for everyday living. Whether you're a first-time buyer or downsizing this turnkey bungalow offers exceptional value in a convenient Fluvanna County location. Schedule your showing today and experience all this charming home has to offer!

19. 2026-02-27
    listed $299,900 Active 743-char remark

    Show marketing remark (743 chars)

    Welcome home to this beautifully remodeled 2-bedroom, 1-bath bungalow in Fluvanna County! Thoughtfully updated from top to bottom, this charming home blends modern upgrades with classic bungalow appeal, offering move-in ready convenience and low-maintenance living. Step inside to discover a bright, open living space featuring fresh paint, updated flooring, and abundant natural light. The fully renovated kitchen boasts new cabinetry, countertops, and appliances, creating a stylish and functional space for everyday living. Whether you're a first-time buyer or downsizing this turnkey bungalow offers exceptional value in a convenient Fluvanna County location. Schedule your showing today and experience all this charming home has to offer!

20. 2025-09-22
    soldstatus $45,000 Sold 837-char remark

    Show marketing remark (837 chars)

    Fixer-Upper with Endless Potential in the Heart of Fork Union. Discover the possibilities with this classic 2-bedroom, 1-bath bungalow nestled in the quiet, close-knit community of Fork Union. While the property does need significant updates and repairs, it provides the perfect canvas for an investor or handy homeowner looking to build sweat equity. Original hardwood floors and high ceilings offer a glimpse of its former glory and a foundation for your creative vision. Located just minutes from local shops, Fork Union Military Academy, and scenic countryside, this home combines small-town appeal with a promising return on investment. Whether you’re restoring for resale, rental income, or your own residence, this is a rare opportunity to transform potential into value. Sold as-is — bring your tools and imagination!

21. 2025-08-08
    status Pending 837-char remark

    Show marketing remark (837 chars)

    Fixer-Upper with Endless Potential in the Heart of Fork Union. Discover the possibilities with this classic 2-bedroom, 1-bath bungalow nestled in the quiet, close-knit community of Fork Union. While the property does need significant updates and repairs, it provides the perfect canvas for an investor or handy homeowner looking to build sweat equity. Original hardwood floors and high ceilings offer a glimpse of its former glory and a foundation for your creative vision. Located just minutes from local shops, Fork Union Military Academy, and scenic countryside, this home combines small-town appeal with a promising return on investment. Whether you’re restoring for resale, rental income, or your own residence, this is a rare opportunity to transform potential into value. Sold as-is — bring your tools and imagination!

22. 2025-04-29
    listed $85,000 Active 837-char remark

    Show marketing remark (837 chars)

    Fixer-Upper with Endless Potential in the Heart of Fork Union. Discover the possibilities with this classic 2-bedroom, 1-bath bungalow nestled in the quiet, close-knit community of Fork Union. While the property does need significant updates and repairs, it provides the perfect canvas for an investor or handy homeowner looking to build sweat equity. Original hardwood floors and high ceilings offer a glimpse of its former glory and a foundation for your creative vision. Located just minutes from local shops, Fork Union Military Academy, and scenic countryside, this home combines small-town appeal with a promising return on investment. Whether you’re restoring for resale, rental income, or your own residence, this is a rare opportunity to transform potential into value. Sold as-is — bring your tools and imagination!

23. 1986-01-01
    soldstatus $29,500

ⓘ 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: $584 · $49/mo
• Projected year-2 tax: $1,845 · $154/mo
• Expected delta: +$1,261/yr (+$105/mo · 215.8%)

ⓘ 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 3/10 Moderate 6% 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: $14,551
• − Mortgage interest: −$12,603
• − Property taxes: −$584
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$6,545
• Taxable loss: −$8,635
• Est. tax savings @ 24.0%: +$2,072
• After-tax cash flow: $-2,300/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: Fluvanna County Public School District
• NCES district ID: 5101380
• Math proficiency: 61% ▼ -23.00%
• Reading proficiency: 71% ▼ -4.00%
• Median HH income: $66,601
• Composite: 57.6/100
• National rank: #1065
• State rank: #34 of 131 in VA

Livability — Palmyra

• Score: 49/100
• State rank: #556
• US rank: #25982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 16,896
• Population (ZIP): 950

Population outlook (Fluvanna County) Hauer SSP2

• Today (2025): 27,237 people
• By 2030: 27,607 · +1.4%
• By 2040: 28,075 · +3.1%
• By 2050: 28,019 · +2.9%
• By 2075: 28,058 · +3.0%
• By 2100: 26,124 · -4.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 11% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Fluvanna

• 2024 margin: Lean R (+6.3) · D 46.4% · R 52.6% · Other 1.0%
• 2008→2024 swing: -4.4pp toward R · 2008: -1.8pp · 2024: -6.3pp
• All cycles: 2024: R+6.3 2020: R+4.7 2016: R+9.4 2012: R+6.2 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.63%
• Current HPI: 188.5121
• 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

+662.7% since first listed

8 events — show timeline

• 2026-05-07 Price Changed $225,000 CAAR
• 2026-04-08 Price Changed $250,000 CAAR
• 2026-03-07 Price Changed $275,000 CAAR
• 2026-02-27 Listed $299,900 CAAR
• 2025-09-22 Sold (MLS) $45,000 CAAR
• 2025-08-08 Pending — CAAR
• 2025-04-29 Listed $85,000 CAAR
• 1986-01-01 Sold (Public Records) $29,500 Public Records

Property tax history

+12.2%/yr

Latest (2025): $584 · +14.8% YoY. Source: county tax records.