1272 Dry Bridge Rd · Chatham, VA 24531

$120,000

3 bd · 1.0 ba · 1,672 sqft · SingleFamily · 36 Days on market

1.00 ac lot $72/sqft · 31% below area Est $174k · 31% under

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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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +6.7/10.0
• Schools +6.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment Opportunity just outside Chatham, VA! Must see this charming two-story home sits on 1 acre along a quiet street and offers tons of potential. Featuring a spacious layout, tall ceilings, generously sized rooms, and beautiful fireplaces in five rooms, this property is full of character and ready for new vision. With a little imagination and updates, this could become a dream home, rental, or investment property. A great opportunity for buyers looking for space, charm, and potential in a peaceful setting.

Key facts

• 1 acre lot
• Listed 35 days

Property features AI

Exterior

• Utilities: Well (private) water source; Public sewer
• Home design: Residential property; 2-story
• Construction: Wood siding; Metal roof
• Exterior features: Porch; Outbuilding

Interior

• Bedrooms: One main-level bedroom
• Flooring: Hardwood floors; Laminate floors; Carpet
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating; Window unit cooling
• Interior features: Entrance foyer; Wood-burning fireplaces (3 total); 9 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 5.6% in Chatham — 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 68/100 on livability (#268 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: health & safety C-, amenities F, commute 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.
• Zoned schools: Chatham Elementary (math 67% / reading 72%, grade A-, #313 of 1,108 statewide, top 32%, 234 students, 80% FRL); Chatham Middle (math 52% / reading 77%, grade A-, #123 of 342 statewide, top 37%, 426 students, 81% FRL); Chatham High (math 77% / reading 87%, grade A, #40 of 319 statewide, top 15%, 659 students, 79% FRL) — zoned schools average 80% FRL vs 47% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 39 active listings in the ZIP; 72 units permitted in Pittsylvania County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pittsylvania County population projected at -22% 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.17% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.74%
• DSCR: 1.57
• GRM: 7.1

CMA / ARV

• ARV (median comp): $173,775
• List price: $120,000
• Delta: -30.95%
• Verdict: UNDERPRICED
• Comps: 11 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.5%
• Equity multiple: 1.10×
• Total profit: $3,241
• Equity at exit: $17,892

10-year hold

• IRR: 12.1%
• Equity multiple: 1.95×
• Total profit: $31,957
• Equity at exit: $10,375

Cash invested: $33,600 (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 24531

• Home prices YoY: -20.7%
• Active inventory: 39
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,399 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$70 /mo · $834/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $357

Break-even live

Break-even rent $948

Max offer price $120,000

Occupancy floor 70%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $120,000 Active 36 DOM
2. 2026-06-18
   days on market $120,000 Active 35 DOM
3. 2026-06-17
   days on market $120,000 Active 34 DOM
4. 2026-06-16
   days on market $120,000 Active 33 DOM
5. 2026-06-15
   days on market $120,000 Active 32 DOM
6. 2026-06-14
   days on market $120,000 Active 30 DOM
7. 2026-06-13
   days on market $120,000 Active 29 DOM
8. 2026-06-10
   days on market $120,000 Active 27 DOM
9. 2026-06-09
   days on market $120,000 Active 26 DOM
10. 2026-06-08
    days on market $120,000 Active 25 DOM
11. 2026-06-07
    days on market $120,000 Active 24 DOM
12. 2026-06-03
    days on market $120,000 Active 20 DOM
13. 2026-06-02
    days on market $120,000 Active 19 DOM
14. 2026-06-01
    days on market $120,000 Active 18 DOM
15. 2026-05-31
    days on market $120,000 Active 17 DOM
16. 2026-05-30
    days on market $120,000 Active 16 DOM
17. 2026-05-15
    listed $120,000 Active 518-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: $834 · $70/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$150/yr (+$13/mo · 18.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $16,791
• − Mortgage interest: −$6,722
• − Property taxes: −$834
• − Insurance: −$600
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$3,491
• Taxable income: $2,458
• Est. tax owed @ 24.0%: −$590
• After-tax cash flow: $3,690/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 — Chatham

• Score: 68/100
• State rank: #268
• US rank: #9452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,107

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 (72%)
• Race & ethnicity: White 72% Black 22% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Serbian 2% Slovak 2% Scotch-Irish 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -44.86%
• Current HPI: 172.2543
• 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

• 2026-05-15 Listed $120,000 DRRAR