7377 Old Pinetta Rd · Gloucester Courthouse, VA 23061

$384,900

4 bd · 2.0 ba · 2,152 sqft · SingleFamily public records · 28 Days on market

Built 1950 2.00 ac lot $179/sqft · 13% below area Est $444k · 13% 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 +13.5/15.0
• Cash flow +8.9/30.0
• Schools +5.6/10.0
• Livability +3.7/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Pure country charm in this 1950 Colonial Farmhouse sitting on 1.95 acres in upper Gloucester County. Enjoy your 4 bedrooms, 2 downstairs with 2 upstairs and a Jack and Jill bath for a total of 2 full baths. Beautiful updated Kitchen with large walk in pantry, beautiful family room and large front country porch. Old buildings convey as is. Inside Photos coming soon! Do not miss your opportunity to purchase this home call for your appointment today.

Key facts

• Heart pine floors
• Restored farmhouse
• Newer windows

Tags

• RESTORED FARMHOUSE
• ORIGINAL CHERRY FLOORS
• HEART PINE FLOORS
• UPGRADED HVAC
• NEWER WINDOWS
• STEEL BEAM REINFORCEMENT

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Well water; Septic tank
• Home design: Single-family residence; Two stories
• Construction: Clapboard and wood siding; Metal and shingle roof; Crawl space foundation; Built living area above grade: 2,152
• Exterior features: Front and rear porches; Partial fencing; Outdoor above-ground pool; Barn(s); Stable(s)

Interior

• Flooring: Wood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Fireplace; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $385k.

Deal economics

• At list price, monthly cash flow is $-312 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $330k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (33.9% below list).
• Recommended offer: $254k (33.9% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.5% in Gloucester Courthouse — 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 74/100 on livability (#150 in VA, #4,823 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A-; Watch: amenities F, commute F.
• Gloucester County Public School District (rural): math 57% / reading 73% proficiency, ranked #37 of 131 in VA (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bethel Elementary (math 68% / reading 72%, grade A-, #311 of 1,108 statewide, top 28%, 498 students, 66% FRL); Peasley Middle (math 53% / reading 74%, grade B+, #128 of 342 statewide, top 39%, 620 students, 37% FRL); Gloucester High (math 58% / reading 86%, grade B+, #134 of 319 statewide, top 45%, 1,531 students, 39% FRL) — zoned schools average 48% FRL vs 29% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 224 active listings in the ZIP; 85 units permitted in Gloucester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Gloucester County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($379k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $285k; 35% 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, 78% 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 $254,415 (33.9% 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. 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 A-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: 0.66% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.47%
• DSCR: 0.85
• GRM: 12.6

CMA / ARV

• ARV (median comp): $443,626
• List price: $384,900
• Delta: -13.24%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -22.2%
• Equity multiple: 0.24×
• Total profit: $-82,389
• Equity at exit: $57,390

10-year hold

• IRR: -16.3%
• Equity multiple: 0.09×
• Total profit: $-97,990
• Equity at exit: $33,279

Cash invested: $107,772 (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 23061

• Home prices YoY: -32.4%
• Active inventory: 224
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,544 medium
• Mortgage (P&I): −$2,018
• Tax from tax record: −$143 /mo · $1,712/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $-312

Break-even live

Break-even rent $2,939

Max offer price $329,847

Occupancy floor —

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: $96,225
• Closing costs: $11,547
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-01
   status $384,900 Pending 28 DOM
2. 2026-05-31
   days on market $384,900 Active 28 DOM
3. 2026-05-03
   listed $389,900 Active 809-char remark
4. 2022-08-22
   soldstatus $285,000 451-char remark

   Show marketing remark (451 chars)

   Pure country charm in this 1950 Colonial Farmhouse sitting on 1.95 acres in upper Gloucester County. Enjoy your 4 bedrooms, 2 downstairs with 2 upstairs and a Jack and Jill bath for a total of 2 full baths. Beautiful updated Kitchen with large walk in pantry, beautiful family room and large front country porch. Old buildings convey as is. Inside Photos coming soon! Do not miss your opportunity to purchase this home call for your appointment today.

5. 2022-07-25
   soldstatus $285,000
6. 2022-07-22
   soldstatus $285,000 Closed

   Show marketing remark (451 chars)

   Pure country charm in this 1950 Colonial Farmhouse sitting on 1.95 acres in upper Gloucester County. Enjoy your 4 bedrooms, 2 downstairs with 2 upstairs and a Jack and Jill bath for a total of 2 full baths. Beautiful updated Kitchen with large walk in pantry, beautiful family room and large front country porch. Old buildings convey as is. Inside Photos coming soon! Do not miss your opportunity to purchase this home call for your appointment today.

7. 2022-03-14
   status Under Contract

   Show marketing remark (451 chars)

   Pure country charm in this 1950 Colonial Farmhouse sitting on 1.95 acres in upper Gloucester County. Enjoy your 4 bedrooms, 2 downstairs with 2 upstairs and a Jack and Jill bath for a total of 2 full baths. Beautiful updated Kitchen with large walk in pantry, beautiful family room and large front country porch. Old buildings convey as is. Inside Photos coming soon! Do not miss your opportunity to purchase this home call for your appointment today.

8. 2022-03-14
   status Pending

   Show marketing remark (451 chars)

   Pure country charm in this 1950 Colonial Farmhouse sitting on 1.95 acres in upper Gloucester County. Enjoy your 4 bedrooms, 2 downstairs with 2 upstairs and a Jack and Jill bath for a total of 2 full baths. Beautiful updated Kitchen with large walk in pantry, beautiful family room and large front country porch. Old buildings convey as is. Inside Photos coming soon! Do not miss your opportunity to purchase this home call for your appointment today.

9. 2021-09-17
   listed $285,000 451-char remark

   Show marketing remark (451 chars)

   Pure country charm in this 1950 Colonial Farmhouse sitting on 1.95 acres in upper Gloucester County. Enjoy your 4 bedrooms, 2 downstairs with 2 upstairs and a Jack and Jill bath for a total of 2 full baths. Beautiful updated Kitchen with large walk in pantry, beautiful family room and large front country porch. Old buildings convey as is. Inside Photos coming soon! Do not miss your opportunity to purchase this home call for your appointment today.

10. 2021-09-17
    listed $285,000 Active

    Show marketing remark (451 chars)

    Pure country charm in this 1950 Colonial Farmhouse sitting on 1.95 acres in upper Gloucester County. Enjoy your 4 bedrooms, 2 downstairs with 2 upstairs and a Jack and Jill bath for a total of 2 full baths. Beautiful updated Kitchen with large walk in pantry, beautiful family room and large front country porch. Old buildings convey as is. Inside Photos coming soon! Do not miss your opportunity to purchase this home call for your appointment today.

11. 2021-09-17
    listed $285,000 Active

    Show marketing remark (451 chars)

    Pure country charm in this 1950 Colonial Farmhouse sitting on 1.95 acres in upper Gloucester County. Enjoy your 4 bedrooms, 2 downstairs with 2 upstairs and a Jack and Jill bath for a total of 2 full baths. Beautiful updated Kitchen with large walk in pantry, beautiful family room and large front country porch. Old buildings convey as is. Inside Photos coming soon! Do not miss your opportunity to purchase this home call for your appointment today.

12. 2008-02-14
    soldstatus $226,000

ⓘ 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: $1,712 · $143/mo
• Projected year-2 tax: $3,156 · $263/mo
• Expected delta: +$1,444/yr (+$120/mo · 84.3%)

ⓘ 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 8/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,530
• − Mortgage interest: −$21,560
• − Property taxes: −$1,712
• − Insurance: −$1,924
• − Repairs & maintenance: −$2,442
• − Management: −$2,442
• − Depreciation: −$11,197
• Taxable loss: −$10,749
• Est. tax savings @ 24.0%: +$2,580
• After-tax cash flow: $-1,160/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: Gloucester County Public School District
• NCES district ID: 5101620
• Math proficiency: 57% ▼ -30.00%
• Reading proficiency: 73% ▼ -8.00%
• Median HH income: $60,815
• Composite: 56.19/100
• National rank: #1177
• State rank: #37 of 131 in VA

Livability — Gloucester Courthouse

• Score: 74/100
• State rank: #150
• US rank: #4823

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 23,219
• Population (ZIP): 23,219

Population outlook (Gloucester County) Hauer SSP2

• Today (2025): 37,437 people
• By 2030: 37,286 · -0.4%
• By 2040: 36,224 · -3.2%
• By 2050: 34,171 · -8.7%
• By 2075: 30,472 · -18.6%
• By 2100: 25,832 · -31.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Serbian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Gloucester

• 2024 margin: Solid R (+38.4) · D 30.4% · R 68.8%
• 2008→2024 swing: -11.5pp toward R · 2008: -26.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+35.5 2016: R+39.4 2012: R+27.9 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.96%
• Current HPI: 175.0236
• 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

+70.3% since first listed

12 events — show timeline

• 2026-06-01 Pending — CBRAR
• 2026-05-25 Price Changed $384,900 CBRAR
• 2026-05-03 Listed $389,900 CBRAR
• 2022-08-22 Sold (MLS) $285,000 CBRAR
• 2022-07-25 Sold (Public Records) $285,000 Public Records
• 2022-07-22 Sold (MLS) $285,000 WMLS
• 2022-03-14 Pending — REINMLS
• 2022-03-14 Pending — WMLS
• 2021-09-17 Listed $285,000 REINMLS
• 2021-09-17 Listed $285,000 WMLS
• 2021-09-17 Listed $285,000 CBRAR
• 2008-02-14 Sold (Public Records) $226,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,712 · +5.3% YoY. Source: county tax records.