1622 12th St · Victoria, VA 23974

$115,000

4 bd · 3.0 ba · 3,440 sqft · SingleFamily public records

Built 1965 ↓ 20% since listing

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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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.9/10.0
• Appreciation +4.7/10.0
• Schools +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

ABSOLUTE AUCTION! Online only. List price is the suggested starting bid. Timeless 1902 Victorian on a prominent 1/3-acre corner lot in a quiet neighborhood. Offering 3,440 square feet, this property blends historic charm with exceptional potential. Roof replaced around 2019. Standout features include a ¼ wraparound covered porch, soaring ceilings, original hardwood floors, wide trim, and built-in cabinetry. Six spacious bedrooms, including a first-floor primary suite with dual closets. Classic gable rooflines complete the architectural appeal. With some TLC, this property will truly shine. Ideal as a private residence or conversion to a Bed & Breakfast. Located near downtown am

Key facts

• Built 1965

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $199 ($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 $114k (0.7% below list).
• Recommended offer: $114k (0.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#235 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Lunenburg County Public School District (rural): math 33% / reading 60% proficiency, ranked #110 of 131 in VA (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 25 units permitted in Lunenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $42 of equity ($795 loan paydown + $-753 appreciation (-0.7% local appreciation)).
• Lunenburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 6y 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.

Recommended offer $114,200 (0.7% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.18×
• Total profit: $5,793
• Equity at exit: $29,678

10-year hold

• IRR: 10.0%
• Equity multiple: 2.01×
• Total profit: $32,479
• Equity at exit: $32,830

Cash invested: $32,200 (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 23974

• Home prices YoY: -0.4%
• Active inventory: 25
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,142 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$52 /mo · $624/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $199

Break-even live

Break-even rent $890

Max offer price $115,000

Occupancy floor 78%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-10
   pricestatusdays on marketlisting id $115,000 Under Contract
2. 2026-04-21
   listed $50,000 Active 806-char remark
3. 2026-04-01
   historical
4. 2026-03-25
   status Active
5. 2026-03-23
   status Pending
6. 2026-03-19
   listed $140,000 Active
7. 2020-08-13
   soldstatus $112,000
8. 2020-08-13
   soldstatus $112,000
9. 2020-03-04
   listed $116,000
10. 2018-06-29
    soldstatus $144,600

ⓘ 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: $624 · $52/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$319/yr (+$27/mo · 51.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,704
• − Mortgage interest: −$6,442
• − Property taxes: −$624
• − Insurance: −$575
• − Repairs & maintenance: −$1,096
• − Management: −$1,096
• − Depreciation: −$3,345
• Taxable income: $525
• Est. tax owed @ 24.0%: −$126
• After-tax cash flow: $2,264/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: Lunenburg County Public School District
• NCES district ID: 5102310
• Math proficiency: 33% ▼ -41.00%
• Reading proficiency: 60% ▼ -13.00%
• Median HH income: $37,728
• Composite: 38.6/100
• National rank: #4162
• State rank: #110 of 131 in VA

Livability — Victoria

• Score: 70/100
• State rank: #235
• US rank: #7920

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Victoria, VA
• Population (ZIP): 4,908

Population outlook (Lunenburg County) Hauer SSP2

• Today (2025): 11,367 people
• By 2030: 10,757 · -5.4%
• By 2040: 9,464 · -16.7%
• By 2050: 8,329 · -26.7%
• By 2075: 6,292 · -44.6%
• By 2100: 4,575 · -59.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 39% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Serbian 1% Slovak 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lunenburg

• 2024 margin: Strong R (+22.8) · D 38.3% · R 61.1%
• 2008→2024 swing: -19.3pp toward R · 2008: -3.5pp · 2024: -22.8pp
• All cycles: 2024: R+22.8 2020: R+18.6 2016: R+17.6 2012: R+5.0 2008: R+3.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.65%
• Current HPI: 177.4653
• 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

-20.5% since first listed

11 events — show timeline

• 2026-06-10 Listed $115,000 FSBO.com
• 2026-05-20 Listing Removed — CVRMLS
• 2026-04-21 Listed $50,000 CVRMLS
• 2026-04-01 Listing Removed — CVRMLS
• 2026-03-25 Relisted — CVRMLS
• 2026-03-23 Pending — CVRMLS
• 2026-03-19 Listed $140,000 CVRMLS
• 2020-08-13 Sold (Public Records) $112,000 Public Records
• 2020-08-13 Sold (MLS) $112,000 LMLS
• 2020-03-04 Listed $116,000 LMLS
• 2018-06-29 Sold (Public Records) $144,600 Public Records

Property tax history

+1.9%/yr

Latest (2026): $624 · +12.1% YoY. Source: county tax records.