21181 Highway 49 · Chase City, VA 23968

$235,000

3 bd · 1.0 ba · 1,121 sqft · SingleFamily public records · 7 Days on market

Built 1964 4.05 ac lot

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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).

• Cash flow +10.5/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0

Listing remarks MLS

Welcome to this perfectly priced country rancher with 4 beautiful ac. on which to live and call home. Whether you're looking for a place to build a homestead, family retreat, first time home or a place to retire, this property is an excellent location. Maybe you're looking for a home where you can build a shop for a small business? You've found a great location to give that a try. The property is conveniently located between Clarksville and Chase City with Boydton just to the East, and larger towns within 30 mins. With ease, you can access the front of the property from highway 49 and the back of the property from E Organsville Rd. This 3 BR home is roomy with tons of potential to be brought up to the design styles of 2022, whether you love the farmhouse look or the mid-century modern. Not only is the home layout quaint, the grounds are as well. Surrounded by numerous mature ornamental trees and shrubs like dogwood, magnolia, camellia and azaleas, the beautiful blooms throughout the seasons will only add to the charm of the property. Located just mins to Kerr Lake and the lakeside town of Clarksville with dining and shops, 15 mins to Microsoft, 30 mins to South Boston or South Hill.

Key facts

• Updated electrical
• Remodeled kitchen
• Updated bathroom

Tags

• OVER 4 ACRES
• REMODELED KITCHEN
• BUTCHER BLOCK COUNTERTOPS
• UPDATED BATHROOM
• UPDATED PLUMBING
• UPDATED ELECTRICAL

Property features AI

Exterior

• Parking: Attached garage (1 covered parking space, 1 total garage space)
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; Residential property
• Construction: Brick construction; Above-grade finished area reported
• Exterior features: Front porch; Property has a view; Lot approximately 4.05 acres; Zoned AG (agricultural)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Electric water heater; Dishwasher; Electric range; Microwave; Refrigerator; Hardwood flooring; No fireplace; 6 total rooms; Crawl space basement / no finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (32.7% below list).
• Recommended offer: $158k (32.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 7.5% in Chase City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 70/100 on livability (#238 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chase City Elementary (math 47% / reading 57%, grade C-, #696 of 1,108 statewide, top 66%, 387 students, 89% FRL); Mecklenburg County Middle (874 students, 88% FRL); Mecklenburg County High (1,163 students, 88% FRL) — zoned schools average 88% FRL vs 54% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 52% at this address vs 64% district-wide (-12 pts) — the specific schools serving this property underperform the Mecklenburg County Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: 6 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.9% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $150k; list at $235k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $158,130 (32.7% 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 1964 — 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. 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: 0.67% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 12.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.88% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.10×
• Total profit: $6,795
• Equity at exit: $91,125

10-year hold

• IRR: 6.0%
• Equity multiple: 1.80×
• Total profit: $52,669
• Equity at exit: $130,030

Cash invested: $65,800 (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 23968

• Home prices YoY: 1.6%
• Active inventory: 6
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $1,581 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-121

Break-even live

Break-even rent $1,735

Max offer price $213,606

Occupancy floor —

Sensitivity live

Price	-10% $12	-5% $-55	+0% $-121	+5% $-456	+10% $-537
Rent	-10% $-246	-5% $-184	+0% $-121	+5% $-59	+10% $4
Rate	-1.0pp $-3	-0.5pp $-61	base $-121	+0.5pp $-182	+1.0pp $-244

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-16
   listed $235,000 Active
2. 2025-06-30
   price $239,000
3. 2025-06-13
   listed $249,000 Active
4. 2023-01-31
   soldstatus $150,000 1201-char remark

   Show marketing remark (1201 chars)

   Welcome to this perfectly priced country rancher with 4 beautiful ac. on which to live and call home. Whether you're looking for a place to build a homestead, family retreat, first time home or a place to retire, this property is an excellent location. Maybe you're looking for a home where you can build a shop for a small business? You've found a great location to give that a try. The property is conveniently located between Clarksville and Chase City with Boydton just to the East, and larger towns within 30 mins. With ease, you can access the front of the property from highway 49 and the back of the property from E Organsville Rd. This 3 BR home is roomy with tons of potential to be brought up to the design styles of 2022, whether you love the farmhouse look or the mid-century modern. Not only is the home layout quaint, the grounds are as well. Surrounded by numerous mature ornamental trees and shrubs like dogwood, magnolia, camellia and azaleas, the beautiful blooms throughout the seasons will only add to the charm of the property. Located just mins to Kerr Lake and the lakeside town of Clarksville with dining and shops, 15 mins to Microsoft, 30 mins to South Boston or South Hill.

5. 2023-01-27
   soldstatus $150,000
6. 2022-10-26
   listed $154,900 1201-char remark

   Show marketing remark (1201 chars)

   Welcome to this perfectly priced country rancher with 4 beautiful ac. on which to live and call home. Whether you're looking for a place to build a homestead, family retreat, first time home or a place to retire, this property is an excellent location. Maybe you're looking for a home where you can build a shop for a small business? You've found a great location to give that a try. The property is conveniently located between Clarksville and Chase City with Boydton just to the East, and larger towns within 30 mins. With ease, you can access the front of the property from highway 49 and the back of the property from E Organsville Rd. This 3 BR home is roomy with tons of potential to be brought up to the design styles of 2022, whether you love the farmhouse look or the mid-century modern. Not only is the home layout quaint, the grounds are as well. Surrounded by numerous mature ornamental trees and shrubs like dogwood, magnolia, camellia and azaleas, the beautiful blooms throughout the seasons will only add to the charm of the property. Located just mins to Kerr Lake and the lakeside town of Clarksville with dining and shops, 15 mins to Microsoft, 30 mins to South Boston or South Hill.

ⓘ 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: $481 · $40/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: +$1,446/yr (+$121/mo · 301.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,976
• − Mortgage interest: −$13,164
• − Property taxes: −$481
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$6,836
• Taxable loss: −$5,716
• Est. tax savings @ 24.0%: +$1,372
• After-tax cash flow: $-81/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: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Chase City

• Score: 70/100
• State rank: #238
• US rank: #8038

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 737

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (57%)
• Race & ethnicity: White 57% Black 41% Two or more races 2%
• Common ancestry: Romanian 1%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.88%
• Current HPI: 116.9882
• 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

+51.7% since first listed

6 events — show timeline

• 2026-05-16 Listed $235,000 SPLLAR
• 2025-06-30 Price Changed $239,000 RVLG
• 2025-06-13 Listed $249,000 RVLG
• 2023-01-31 Sold (MLS) $150,000 SPLLAR
• 2023-01-27 Sold (Public Records) $150,000 Public Records
• 2022-10-26 Listed $154,900 SPLLAR

Property tax history

+8.9%/yr

Latest (2025): $481 · +0.6% YoY. Source: county tax records.