1021 Fairmount · Bristol, VA 24202

$85,000

3 bd · 1.5 ba · 1,414 sqft · SingleFamily public records · 81 Days on market

Built 1906 Poor condition 5,788 sqft lot $60/sqft · 54% 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
• Schools +6.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors and rehabbers! Located at 1021 Fairmount Ave, Bristol, VA, this property is the perfect opportunity for your next renovation project. With solid potential and a desirable location, this home is ready for a complete transformation. Featuring a functional floor plan, generous lot, and convenient access to shopping, dining, schools, and major highways, this property offers the ideal canvas for a profitable flip. Bring your vision, contractor, and creativity to unlock its full potential. Properties with this level of upside are becoming increasingly difficult to find.

Key facts

• Fix flip opportunity
• Value-add potential
• Spacious lot

Tags

• BRISTOL LOCATION
• SPACIOUS LOT
• FIX FLIP OPPORTUNITY
• VALUE-ADD POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $85k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $777 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.3% vs local median 4.6% in Bristol — 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 (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bristol City Public School District (urban): math 57% / reading 70% proficiency, ranked #53 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Stonewall Jackson Elementary (math 47% / reading 67%, grade C+, #597 of 1,108 statewide, top 57%, 254 students, 102% FRL); Virginia Middle (math 56% / reading 71%, grade B+, #128 of 342 statewide, top 39%, 487 students, 101% FRL); Virginia High (math 62% / reading 77%, grade B, #159 of 319 statewide, top 53%, 637 students, 100% FRL) — zoned schools average 101% FRL vs 58% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 209 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 15 units permitted in Bristol city in 2024 (5 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bristol County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1906 — 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 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.96% ✓
• Cap rate: 17.26%
• Cash-on-cash: 39.17%
• DSCR: 2.74
• GRM: 4.3

CMA / ARV

• ARV (median comp): $184,423
• List price: $85,000
• Delta: -53.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1006 Highland Ave	0.10mi	2/2.0 (-1)	1,356 (-4%)	4mo	$225,000	$166	78
544 Pearl St	0.06mi	2/1.0 (-1)	1,584 (+12%)	9mo	$95,000	$60	63
617 Prince St	0.12mi	3/1.0	1,228 (-13%)	11mo	$232,000	$189	61
461 Douglas St	0.56mi	4/2.0 (+1)	1,418 (+0%)	8mo	$193,500	$136	60
824 Arlington Ave	0.27mi	2/1.0 (-1)	1,535 (+9%)	8mo	$239,000	$156	59
332 Randolph St	0.59mi	3/2.0	1,342 (-5%)	4mo	$215,000	$160	58
726 Lawrence Ave	0.25mi	3/1.0	1,205 (-15%)	6mo	$194,000	$161	56
1116 Shelby St	0.70mi	3/1.5	1,490 (+5%)	14mo	$70,000	$47	47
420 Douglas St	0.59mi	3/1.0	1,588 (+12%)	11mo	$227,000	$143	41
943 Shelby St	0.60mi	3/1.0	1,201 (-15%)	8mo	$115,000	$96	38
1409 Newton St	0.69mi	2/1.0 (-1)	1,267 (-10%)	13mo	$165,000	$130	32
403 Washington St	0.75mi	4/3.0 (+1)	1,286 (-9%)	11mo	$162,000	$126	30

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: 35.4%
• Equity multiple: 2.50×
• Total profit: $35,696
• Equity at exit: $12,674

10-year hold

• IRR: 42.1%
• Equity multiple: 4.98×
• Total profit: $94,767
• Equity at exit: $7,349

Cash invested: $23,800 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 24 active · 14 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $219,250 ($155/sqft)
• Median days on market: 58 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -15.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 24202

• Home prices YoY: -30.0%
• Active inventory: 209
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,663 high
• Mortgage (P&I): −$446
• Tax from tax record: −$55 /mo · $666/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $777

Break-even live

Break-even rent $679

Max offer price $85,000

Occupancy floor 48%

Sensitivity live

Price	-10% $825	-5% $801	+0% $777	+5% $753	+10% $729
Rent	-10% $645	-5% $711	+0% $777	+5% $842	+10% $908
Rate	-1.0pp $820	-0.5pp $798	base $777	+0.5pp $755	+1.0pp $732

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: $21,250
• Closing costs: $2,550
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1216 Norway St Unit 102 Bristol, VA	2.0	1.0	1215	$1,600	$1.32	108d	1	0.57mi
1216 Norway St Unit 101 Bristol, VA	4.0	2.0	1615	$2,100	$1.30	108d	1	0.57mi
1405 Newton St Bristol, VA	3.0	1.0	1200	$1,600	$1.33	108d	1	0.68mi
1136 Moorland Ave Bristol, VA	2.0	1.0	936	$1,250	$1.34	139d	1	0.93mi
2156 Bradley St Bristol, VA	3.0	1.0	1008	$1,500	$1.49	0d	1	0.99mi
203 Opal Ln Unit 4 Bristol, VA	2.0	1.5	1200	$1,500	$1.25	116d	1	1.02mi
308 Emerald Dr Unit 308 Bristol, VA	2.0	1.5	970	$1,200	$1.24	139d	1	1.07mi
740 Page St Bristol, VA	2.0	1.5	1200	$1,500	$1.25	0d	1	1.10mi
1718 Clifton Rd Bristol, TN	3.0	1.5	1672	$1,900	$1.14	139d	1	1.13mi
135 Kingsolver St Bristol, VA	2.0	1.0	1000	$1,400	$1.40	116d	1	1.15mi
1156 Bristol View Dr Bristol, VA	2.0	2.5	1152	$1,650	$1.43	0d	2	1.18mi
2114 Broad St Bristol, TN	2.0	1.0	1000	$1,500	$1.50	0d	1	1.29mi
2510 Catherine St Bristol, VA	3.0	2.0	1418	$2,500	$1.76	108d	1	1.41mi
279 Reservoir St Bristol, VA	3.0	1.5	1300	$1,600	$1.23	108d	1	1.41mi
145 Midway St Unit 1397968P Bristol, VA	3.0	2.0	1388	$4,731	$3.41	0d	1	1.44mi

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public waterPublic sewerElectric heating fuel
• Home design: Detached structureVinyl siding exteriorAbove-grade living space reported
• Construction: Concrete perimeter foundationEstimated year built
• Exterior features: Located within city limitsNo tidal water

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom on upper levelOne half bathroom on main levelTotal one full bathroom, one half bathroom
• Heating & cooling: Forced air heatingElectric hot water
• Interior features: Partially finished basementLiving area listed as estimated

Listing history 50 events

1. 2026-08-25
   days on market $85,000 Active 81 DOM
2. 2026-08-24
   days on market $85,000 Active 80 DOM
3. 2026-08-23
   days on market $85,000 Active 79 DOM
4. 2026-08-22
   days on market $85,000 Active 78 DOM
5. 2026-08-21
   days on market $85,000 Active 77 DOM
6. 2026-08-20
   days on market $85,000 Active 76 DOM
7. 2026-08-19
   days on market $85,000 Active 75 DOM
8. 2026-08-18
   days on market $85,000 Active 74 DOM
9. 2026-08-17
   days on market $85,000 Active 73 DOM
10. 2026-08-16
    days on market $85,000 Active 72 DOM
11. 2026-08-15
    days on market $85,000 Active 71 DOM
12. 2026-08-15
    days on market $85,000 Active 70 DOM
13. 2026-08-13
    days on market $85,000 Active 69 DOM
14. 2026-08-12
    days on market $85,000 Active 68 DOM
15. 2026-08-11
    days on market $85,000 Active 67 DOM
16. 2026-08-10
    days on market $85,000 Active 66 DOM
17. 2026-08-09
    days on market $85,000 Active 65 DOM
18. 2026-08-08
    days on market $85,000 Active 64 DOM
19. 2026-08-07
    days on market $85,000 Active 63 DOM
20. 2026-08-06
    days on market $85,000 Active 62 DOM
21. 2026-08-05
    days on market $85,000 Active 61 DOM
22. 2026-08-04
    days on market $85,000 Active 60 DOM
23. 2026-08-03
    days on market $85,000 Active 59 DOM
24. 2026-07-31
    days on market $85,000 Active 56 DOM
25. 2026-07-30
    days on market $85,000 Active 54 DOM
26. 2026-07-27
    days on market $85,000 Active 52 DOM
27. 2026-07-25
    days on market $85,000 Active 50 DOM
28. 2026-07-23
    days on market $85,000 Active 48 DOM
29. 2026-07-22
    days on market $85,000 Active 47 DOM
30. 2026-07-21
    days on market $85,000 Active 46 DOM
31. 2026-07-18
    days on market $85,000 Active 43 DOM
32. 2026-07-16
    days on market $85,000 Active 41 DOM
33. 2026-07-16
    days on market $85,000 Active 40 DOM
34. 2026-07-14
    days on market $85,000 Active 39 DOM
35. 2026-07-13
    days on market $85,000 Active 38 DOM
36. 2026-07-12
    days on market $85,000 Active 37 DOM
37. 2026-07-11
    days on market $85,000 Active 36 DOM
38. 2026-07-10
    days on market $85,000 Active 35 DOM
39. 2026-07-09
    days on market $85,000 Active 34 DOM
40. 2026-07-08
    days on market $85,000 Active 33 DOM
41. 2026-07-07
    days on market $85,000 Active 32 DOM
42. 2026-07-06
    days on market $85,000 Active 31 DOM
43. 2026-07-05
    days on market $85,000 Active 30 DOM
44. 2026-07-04
    days on market $85,000 Active 29 DOM
45. 2026-07-03
    days on market $85,000 Active 28 DOM
46. 2026-07-02
    days on market $85,000 Active 27 DOM
47. 2026-07-01
    days on market $85,000 Active 26 DOM
48. 2026-06-30
    days on market $85,000 Active 25 DOM
49. 2026-06-29
    days on market $85,000 Active 24 DOM
50. 2026-06-28
    days on market $85,000 Active 23 DOM

ⓘ 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: $666 · $55/mo
• Projected year-2 tax: $697 · $58/mo
• Expected delta: +$31/yr (+$3/mo · 4.7%)

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

Taxation est. · year 1

• Rental income: $19,951
• − Mortgage interest: −$4,761
• − Property taxes: −$666
• − Insurance: −$425
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$2,473
• Taxable income: $8,434
• Est. tax owed @ 24.0%: −$2,024
• After-tax cash flow: $7,298/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.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab Est. rehab $70,700–$127,260 screening

This property requires extensive repairs and updates to bring it up to a livable condition. The home's poor exterior and interior condition, along with the need for a new roof and flooring, make it a significant investment opportunity for an investor or rehabber.

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof) — Significant damage to the roof structure is visible.
• Major Windows (windows) — Windows appear to be broken or missing, indicating severe damage.
• Major Electrical (electrical) — Exposed wiring and damaged electrical components suggest a major issue.
• Major Plumbing (plumbing) — Significant water damage is evident, indicating a major plumbing issue.
• Major Exterior (exterior) — The exterior walls are severely damaged, with visible structural issues.

Repairs flagged

• Major exterior siding — Peeling paint and exposed siding
• Major roof — No visible roof damage, but the satellite image shows a dark, possibly damaged roof
• Major interior walls — Worn wallpaper and peeling paint
• Major flooring — Worn carpet and visible wear

Value-add opportunities

• Both exterior paint and siding — Fresh paint and siding would improve curb appeal and home value ↑
• Both roof replacement — A new roof would improve the home's structural integrity and increase its value ↑
• Both flooring replacement — New flooring would improve the home's appearance and increase its value ↑
• Both interior paint and wallpaper removal — Fresh paint and wallpaper removal would improve the home's appearance and increase its value ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary Stonewall Jackson Elementary C+ VA #597/1,108 Nat'l #8,534/41,679 Middle Virginia Middle B+ VA #128/342 Nat'l #1,406/14,009 High Virginia High B VA #159/319 Nat'l #2,167/17,239

Schools (NCES district)

• District: Bristol City Public School District
• NCES district ID: 5100450
• Math proficiency: 57% ▼ -24.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $33,978
• Composite: 52.4/100
• National rank: #1579
• State rank: #53 of 131 in VA

B Composite livability gradescore 74/100

Livability — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, VA
• County: Washington · 16,113 people
• City population: 16,039
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 12,324
• Household income: $58,333
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 2% of renters

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Population outlook (Bristol County) Hauer SSP2

• Today (2025): 16,113 people
• By 2030: 15,510 · -3.7%
• By 2040: 14,121 · -12.4%
• By 2050: 12,847 · -20.3%
• By 2075: 9,870 · -38.7%
• By 2100: 7,883 · -51.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Portuguese 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

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Political lean MEDSL · Bristol

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -13.6pp toward R · 2008: -26.0pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+38.9 2016: R+43.8 2012: R+31.1 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.07%
• Current HPI: 182.4415
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

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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

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public waterPublic sewerElectric heating fuel
• Home design: Detached structureVinyl siding exteriorAbove-grade living space reported
• Construction: Concrete perimeter foundationEstimated year built
• Exterior features: Located within city limitsNo tidal water

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom on upper levelOne half bathroom on main levelTotal one full bathroom, one half bathroom
• Heating & cooling: Forced air heatingElectric hot water
• Interior features: Partially finished basementLiving area listed as estimated

Price history

1 event — show timeline

• 2026-06-05 Listed $85,000 BRIGHT MLS