709 S Main St · Gretna, VA 24557

$39,900

3 bd · 1.5 ba · 1,404 sqft · SingleFamily public records · 35 Days on market

Built 1930 1.85 ac lot $28/sqft · 81% below area

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• Schools +6.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

1.89 acre lot on Main Street in Gretna with home on the property

Key facts

• 1.89 acre lot
• 1.85 acre lot
• Built 1930

Tags

• 1.89 ACRE LOT

Property features AI

Finance

• Other: Zoning: TZ; Lot size approximately 1.85 acres; Subdivision: 29 NORTH
• Financial info: Annual tax listed (amount provided in source)

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Approximately 1,400 above-grade finished area
• Construction: Wood siding; Composition roof
• Exterior features: Front porch

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Hardwood
• Bathrooms: One full bathroom; One half bathroom (main level)
• Heating & cooling: No heating system specified
• Interior features: Carpet and hardwood flooring; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.8% vs local median 5.5% in Gretna — 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 (#157 in VA, #4,927 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Pittsylvania County Public School District (rural): math 65% / reading 78% proficiency, ranked #22 of 131 in VA (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 72 units permitted in Pittsylvania County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($276 loan paydown + $764 appreciation (1.9% local appreciation)).
• Pittsylvania County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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.
6. 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.
7. 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: 3.26% ✓
• Cap rate: 29.83%
• Cash-on-cash: 84.05%
• DSCR: 4.74
• GRM: 2.6

CMA / ARV

• ARV (median comp): $206,127
• List price: $39,900
• Delta: -80.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 N Frankln Blvd	0.67mi	3/3.0	1,386 (-1%)	2mo	$230,000	$166	59
101 S Franklin Blvd Blvd	0.58mi	3/1.0	1,440 (+3%)	18mo	$182,900	$127	51
104 Harvey St	0.53mi	3/2.0	1,528 (+9%)	16mo	$212,000	$139	46
206 Huffmond St St	0.75mi	3/2.0	1,505 (+7%)	10mo	$235,700	$157	43
202 Dalton St	0.66mi	2/1.0 (-1)	1,272 (-9%)	6mo	$147,000	$116	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 87.7%
• Equity multiple: 5.69×
• Total profit: $52,401
• Equity at exit: $15,555

10-year hold

• IRR: 87.9%
• Equity multiple: 11.71×
• Total profit: $119,624
• Equity at exit: $22,260

Cash invested: $11,172 (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 24557

• Home prices YoY: 1.2%
• Active inventory: 81
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$19 /mo · $224/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $782

Break-even live

Break-even rent $310

Max offer price $39,900

Occupancy floor 35%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
192 Peoples Supply Rd Gretna, VA	3.0	1.0	1370	$1,300	$0.95	43d	1	0.21mi

Listing history 14 events

1. 2026-06-16
   days on market $39,900 Active 35 DOM
2. 2026-06-15
   days on market $39,900 Active 34 DOM
3. 2026-06-14
   days on market $39,900 Active 32 DOM
4. 2026-06-13
   days on market $39,900 Active 31 DOM
5. 2026-06-10
   days on market $39,900 Active 29 DOM
6. 2026-06-09
   days on market $39,900 Active 28 DOM
7. 2026-06-08
   days on market $39,900 Active 27 DOM
8. 2026-06-07
   days on market $39,900 Active 26 DOM
9. 2026-06-03
   days on market $39,900 Active 22 DOM
10. 2026-06-02
    days on market $39,900 Active 21 DOM
11. 2026-06-01
    days on market $39,900 Active 20 DOM
12. 2026-05-31
    days on market $39,900 Active 19 DOM
13. 2026-05-30
    days on market $39,900 Active 18 DOM
14. 2026-05-13
    listed $39,900 Active 64-char remark

ⓘ 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: $224 · $19/mo
• Projected year-2 tax: $327 · $27/mo
• Expected delta: +$103/yr (+$9/mo · 46.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $15,600
• − Mortgage interest: −$2,235
• − Property taxes: −$224
• − Insurance: −$200
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$1,161
• Taxable income: $9,285
• Est. tax owed @ 24.0%: −$2,228
• After-tax cash flow: $7,161/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: Pittsylvania County Public School District
• NCES district ID: 5102940
• Math proficiency: 65% ▼ -22.00%
• Reading proficiency: 78% ▼ -4.00%
• Median HH income: $41,672
• Composite: 59.77/100
• National rank: #900
• State rank: #22 of 131 in VA

Livability — Gretna

• Score: 74/100
• State rank: #157
• US rank: #4927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gretna, VA
• Population (ZIP): 7,832

Population outlook (Pittsylvania County) Hauer SSP2

• Today (2025): 58,725 people
• By 2030: 56,388 · -4.0%
• By 2040: 51,088 · -13.0%
• By 2050: 45,875 · -21.9%
• By 2075: 36,555 · -37.8%
• By 2100: 28,288 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 20% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Pittsylvania

• 2024 margin: Solid R (+43.1) · D 28.1% · R 71.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -24.0pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+39.8 2016: R+39.6 2012: R+27.5 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.91%
• Current HPI: 160.7742
• 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

• 2026-05-13 Listed $39,900 DRRAR

Property tax history

+0.5%/yr

Latest (2026): $224 · +10.7% YoY. Source: county tax records.