1021 Fairmount · Bristol, VA 24202

$85,000

3 bd · 1.5 ba · 1,414 sqft · SingleFamily public records · 14 Days on market

Built 1906 5,788 sqft lot

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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 +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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. Whether you're an experienced investor or looking for your next project, this is an opportunity you won't

Key facts

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

Tags

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

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric heating fuel
• Home design: Detached structure; Vinyl siding exterior; Above-grade living space reported
• Construction: Concrete perimeter foundation; Estimated year built
• Exterior features: Located within city limits; No tidal water

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom on upper level; One half bathroom on main level; Total one full bathroom, one half bathroom
• Heating & cooling: Forced air heating; Electric hot water
• Interior features: Partially finished basement; Living area listed as estimated

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 17.6% vs local median 4.9% 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.
• Market conditions: 154 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 15 units permitted in Bristol city in 2024 (5 in 5+ unit buildings).

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 ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $85,000

Questions for the listing agent

1. Built in 1906 — 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 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?
4. 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?
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: 1.99% ✓
• Cap rate: 17.58%
• Cash-on-cash: 40.30%
• DSCR: 2.79
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $202,202
• Comps found: 12

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%)	1mo	$225,000	$166	80
544 Pearl St	0.06mi	2/1.0 (-1)	1,584 (+12%)	6mo	$95,000	$60	65
617 Prince St	0.12mi	3/1.0	1,228 (-13%)	8mo	$232,000	$189	64
461 Douglas St	0.56mi	4/2.0 (+1)	1,418 (+0%)	5mo	$193,500	$136	62
824 Arlington Ave	0.27mi	2/1.0 (-1)	1,535 (+9%)	5mo	$239,000	$156	62
332 Randolph St	0.59mi	3/2.0	1,342 (-5%)	1mo	$215,000	$160	61
726 Lawrence Ave	0.25mi	3/1.0	1,205 (-15%)	3mo	$194,000	$161	59
1116 Shelby St	0.70mi	3/1.5	1,490 (+5%)	10mo	$70,000	$47	50
420 Douglas St	0.59mi	3/1.0	1,588 (+12%)	8mo	$227,000	$143	44
943 Shelby St	0.60mi	3/1.0	1,201 (-15%)	5mo	$115,000	$96	41
1409 Newton St	0.69mi	2/1.0 (-1)	1,267 (-10%)	10mo	$165,000	$130	35
403 Washington St	0.75mi	4/3.0 (+1)	1,286 (-9%)	8mo	$162,000	$126	32

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: 36.7%
• Equity multiple: 2.56×
• Total profit: $37,128
• Equity at exit: $12,674

10-year hold

• IRR: 43.3%
• Equity multiple: 5.11×
• Total profit: $97,859
• 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 →

ZIP-level market 24202

• Home prices YoY: -30.0%
• Active inventory: 154
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,691 high
• Mortgage (P&I): −$446
• Tax from tax record: −$55 /mo · $666/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $799

Break-even live

Break-even rent $679

Max offer price $85,000

Occupancy floor 48%

Sensitivity live

Price	-10% $847	-5% $823	+0% $799	+5% $775	+10% $751
Rent	-10% $666	-5% $732	+0% $799	+5% $866	+10% $933
Rate	-1.0pp $842	-0.5pp $821	base $799	+0.5pp $777	+1.0pp $755

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
• Reserves months: —
• Total cash needed: —

Rent comps 13 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	14d	1	0.57mi
1216 Norway St Unit 101 Bristol, VA	4.0	2.0	1615	$2,100	$1.30	14d	1	0.57mi
1405 Newton St Bristol, VA	3.0	1.0	1200	$1,600	$1.33	14d	1	0.68mi
1136 Moorland Ave Bristol, VA	2.0	1.0	936	$1,250	$1.34	44d	1	0.93mi
203 Opal Ln Unit 4 Bristol, VA	2.0	1.5	1200	$1,500	$1.25	21d	1	1.02mi
308 Emerald Dr Unit 308 Bristol, VA	2.0	1.5	970	$1,200	$1.24	44d	1	1.07mi
1718 Clifton Rd Bristol, TN	3.0	1.5	1672	$1,900	$1.14	44d	1	1.13mi
135 Kingsolver St Bristol, VA	2.0	1.0	1000	$1,400	$1.40	21d	1	1.15mi
1156 Bristol View Dr Bristol, VA	2.0	2.5	1152	$1,650	$1.43	14d	2	1.18mi
2114 Broad St Bristol, TN	2.0	1.0	1000	$1,600	$1.60	14d	1	1.29mi
2510 Catherine St Bristol, VA	3.0	2.0	1418	$2,500	$1.76	14d	1	1.41mi
279 Reservoir St Bristol, VA	3.0	1.5	1300	$1,600	$1.23	14d	1	1.41mi
145 Midway St Unit 1397968P Bristol, VA	3.0	2.0	1388	$5,335	$3.84	21d	1	1.44mi

Listing history 12 events

1. 2026-06-19
   days on market $85,000 Active 14 DOM
2. 2026-06-18
   days on market $85,000 Active 13 DOM
3. 2026-06-17
   days on market $85,000 Active 12 DOM
4. 2026-06-16
   days on market $85,000 Active 11 DOM
5. 2026-06-15
   days on market $85,000 Active 10 DOM
6. 2026-06-14
   days on market $85,000 Active 8 DOM
7. 2026-06-13
   days on market $85,000 Active 7 DOM
8. 2026-06-10
   days on market $85,000 Active 5 DOM
9. 2026-06-09
   days on market $85,000 Active 4 DOM
10. 2026-06-08
    days on market $85,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $85,000 Active 2 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: $20,292
• − Mortgage interest: −$4,761
• − Property taxes: −$666
• − Insurance: −$425
• − Repairs & maintenance: −$1,623
• − Management: −$1,623
• − Depreciation: −$2,473
• Taxable income: $8,721
• Est. tax owed @ 24.0%: −$2,093
• After-tax cash flow: $7,498/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: 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

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
• City population: 16,039
• Population (ZIP): 12,324

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%

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%

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

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

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