123 Mars St · Petersburg, VA 23803

$150,000

2 bd · 1.0 ba · 600 sqft · SingleFamily public records · 62 Days on market

Built 1900 3,375 sqft lot $250/sqft · 48% above area Est $101k · 48% over

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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 +17.2/30.0
• Appreciation +5.7/10.0
• DSCR +5.3/10.0
• Rent growth +4.0/5.0
• 1% rule +3.3/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Great investment opportunity in an active part of Petersburg- flip or rental. Blocks from Old Towne, in an area where many homes are being renovated. This property will not qualify for FHA, VHDA or VA loans. Sold in as-is condition.

Key facts

• Covered porch
• Open floor plan
• Granite counters

Tags

• COVERED PORCH
• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERS
• TILE BACKSPLASH
• HARDWOOD FLOORS

Property features AI

Finance

• HOA & community: Street lights; Sidewalks

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric power
• Home design: Single-story home; Resale condition; R-3 zoning
• Construction: Aluminum siding, frame and vinyl siding construction; Composition shingle roof; Crawl space foundation; Built as actual year (year built details recorded)
• Exterior features: Front porch; Porch; Lighting; Storage; Shed; Partial chain link fencing; Fenced yard; Level lot

Interior

• Kitchen: Granite counters; Microwave; Oven; Smooth cooktop / Stove; Electric cooking; Icemaker; Refrigerator; Eat-in kitchen
• Bedrooms: Bedrooms located on the first floor
• Flooring: Tile flooring; Wood flooring
• Bathrooms: One full bathroom with tub and shower on the first floor
• Heating & cooling: Electric heating; Central electric air conditioning
• Interior features: Accessible full bath, accessible bedroom and accessible kitchen; Bedroom on main level; Eat-in kitchen; Granite counters; Recessed lighting
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (16.7% below list).
• Recommended offer: $125k (16.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cool Spring Elementary (math 17% / reading 32%, grade F, #1,051 of 1,108 statewide, top 96%, 530 students, 102% FRL); Vernon Johns Middle (math 21% / reading 47%, grade F, #330 of 342 statewide, top 96%, 921 students, 99% FRL); Petersburg High (math 43% / reading 62%, grade C-, #293 of 319 statewide, top 92%, 1,080 students, 97% FRL) — zoned schools average 99% FRL vs 79% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 294 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 5.9% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 24y 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 $34k; list at $150k implies a 337% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 46% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,940 (16.7% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
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: 0.83% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 10.0

CMA / ARV

• ARV (median comp): $101,289
• List price: $150,000
• Delta: 48.09%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 S Jefferson St	0.13mi	2/1.0	672 (+12%)	5mo	$82,500	$123	70
915 High Pearl St	0.58mi	2/1.0	557 (-7%)	6mo	$50,000	$90	56
121 St Marks St	0.54mi	1/1.0 (-1)	608 (+1%)	14mo	$80,000	$132	56
510 St Matthew St	0.69mi	1/1.0 (-1)	576 (-4%)	1mo	$55,000	$95	55
235 S Crater	0.66mi	1/1.0 (-1)	644 (+7%)	1mo	$110,000	$171	51
1014 Jefferson Ln	0.52mi	2/1.0	672 (+12%)	12mo	$126,050	$188	45
242 Shore St	0.49mi	2/1.0	672 (+12%)	20mo	$175,000	$260	41

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

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.39×
• Total profit: $16,549
• Equity at exit: $54,741

10-year hold

• IRR: 12.6%
• Equity multiple: 2.70×
• Total profit: $71,417
• Equity at exit: $75,561

Cash invested: $42,000 (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 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 294
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,249 high
• Mortgage (P&I): −$787
• Tax from tax record: −$32 /mo · $381/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $106

Break-even live

Break-even rent $1,115

Max offer price $150,000

Occupancy floor 86%

Sensitivity live

Price	-10% $191	-5% $149	+0% $106	+5% $64	+10% $21
Rent	-10% $7	-5% $57	+0% $106	+5% $156	+10% $205
Rate	-1.0pp $182	-0.5pp $144	base $106	+0.5pp $67	+1.0pp $28

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
456 Harrison St Unit B Petersburg, VA	1.0	1.0	456	$1,350	$2.96	45d	1	0.26mi
30 Franklin St Petersburg, VA	1.0	1.0	609	$1,022	$1.68	3d	2	0.58mi
30 Franklin St Petersburg, VA	2.0	1.0–2.0	755	$1,550	$2.05	21d	1	0.58mi
120 S Little Church St Petersburg, VA	2.0	2.5	600	$1,475	$2.46	25d	1	0.60mi
15 N Union St Petersburg, VA	1.0	1.0	633	$999	$1.58	23d	2	0.61mi
15 N Union St Petersburg, VA	1.0	1.0	660	$1,072	$1.62	19d	9	0.61mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	775	$1,310	$1.69	23d	2	0.61mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	797	$1,395	$1.75	16d	9	0.61mi
204 Saint Mark St Petersburg, VA	1.0	1.0	480	$1,014	$2.11	25d	1	0.61mi
9 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	721	$1,350	$1.87	19d	6	0.61mi
445 Roundtop Ave Petersburg, VA	2.0	1.0	750	$1,050	$1.40	3d	3	0.62mi
16 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	769	$2,312	$3.01	3d	17	0.63mi
109 Perry St Petersburg, VA	1.0–2.0	1.0–2.0	787	$1,577	$2.00	3d	15	0.63mi
9 N Market St Petersburg, VA	1.0	1.0	667	$1,199	$1.80	23d	1	0.64mi
217 N Carolina Ave Petersburg, VA	2.0	1.0	718	$1,025	$1.43	25d	1	0.66mi
250 E Bank St Petersburg, VA	2.0	1.0–2.0	862	$1,509	$1.75	3d	19	0.75mi
129 S Old Church St Petersburg, VA	3.0	1.0	640	$1,250	$1.95	25d	1	0.76mi
230 N Sycamore St Petersburg, VA	1.0	1.0	622	$1,150	$1.85	3d	7	0.79mi
219 E Bank St Unit 215 Petersburg, VA	1.0	1.0	615	$1,195	$1.94	12d	1	0.80mi
219 E Bank St Apt 227 Petersburg, VA	1.0	1.0	615	$1,075	$1.75	25d	1	0.82mi
219 E Bank St Apt 103 Petersburg, VA	1.0	1.0	465	$1,295	$2.78	22d	1	0.82mi
219 E Bank St Apt 105 Petersburg, VA	1.0	1.0	465	$1,085	$2.33	4d	1	0.82mi
219 E Bank St Apt 121 Petersburg, VA	1.0	1.0	569	$1,180	$2.07	45d	1	0.82mi
219 E Bank St Apt 136 Petersburg, VA	1.0	1.0	569	$1,150	$2.02	45d	1	0.82mi
219 E Bank St Apt 217 Petersburg, VA	1.0	1.0	615	$1,295	$2.11	45d	1	0.82mi
219 E Bank St Apt 125 Petersburg, VA	1.0	1.0	671	$1,195	$1.78	4d	1	0.82mi
219 E Bank St Apt 134 Petersburg, VA	1.0	1.0	569	$1,175	$2.07	16d	1	0.82mi
219 E Bank St Apt 126 Petersburg, VA	1.0	1.0	671	$1,275	$1.90	25d	1	0.82mi
25 W Bank St Petersburg, VA	1.0	1.0	765	$995	$1.30	3d	7	0.86mi
25 W Bank St Petersburg, VA	1.0	1.0	538	$1,050	$1.95	21d	1	0.86mi
232 High St Unit B Petersburg, VA	1.0	1.0	750	$1,400	$1.87	3d	1	0.88mi
647 W Washington St Petersburg, VA	1.0	1.0	595	$595	$1.00	18d	1	0.98mi
1025 S Crater Rd Petersburg, VA	1.0–3.0	1.0–2.0	795	$1,212	$1.52	3d	10	1.01mi
212 S Dunlop St Petersburg, VA	2.0	1.0	700	$1,250	$1.79	45d	1	1.04mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	745	$1,395	$1.87	3d	8	1.07mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	834	$1,399	$1.68	21d	2	1.07mi
712 High St Unit 9 Petersburg, VA	1.0	1.0	670	$1,100	$1.64	45d	1	1.13mi
712 High St Unit 3 Petersburg, VA	1.0	1.0	539	$999	$1.85	45d	1	1.13mi
712 High St Unit 8 Petersburg, VA	1.0	1.0	502	$999	$1.99	23d	1	1.13mi
712 High St Unit 4 Petersburg, VA	1.0	1.0	500	$999	$2.00	25d	1	1.13mi

Listing history 43 events

1. 2026-06-21
   days on market $150,000 Active 62 DOM
2. 2026-06-18
   days on market $150,000 Active 59 DOM
3. 2026-06-17
   days on market $150,000 Active 58 DOM
4. 2026-06-16
   days on market $150,000 Active 57 DOM
5. 2026-06-15
   days on market $150,000 Active 56 DOM
6. 2026-06-13
   days on market $150,000 Active 54 DOM
7. 2026-06-10
   days on market $150,000 Active 51 DOM
8. 2026-06-09
   days on market $150,000 Active 50 DOM
9. 2026-06-08
   days on market $150,000 Active 49 DOM
10. 2026-06-07
    days on market $150,000 Active 48 DOM
11. 2026-06-05
    days on market $150,000 Active 45 DOM
12. 2026-06-03
    days on market $150,000 Active 44 DOM
13. 2026-06-02
    days on market $150,000 Active 43 DOM
14. 2026-06-01
    days on market $150,000 Active 42 DOM
15. 2026-05-31
    days on market $150,000 Active 41 DOM
16. 2026-04-20
    listed $150,000 Active 1197-char remark
17. 2026-02-17
    historical
18. 2026-02-16
    status Active
19. 2026-02-05
    status Pending
20. 2026-01-12
    listed $125,000 Active
21. 2022-10-31
    soldstatus $34,300
22. 2022-04-13
    soldstatus $30,000
23. 2022-04-12
    soldstatus $30,000 Closed

    Show marketing remark (232 chars)

    Great investment opportunity in an active part of Petersburg- flip or rental. Blocks from Old Towne, in an area where many homes are being renovated. This property will not qualify for FHA, VHDA or VA loans. Sold in as-is condition.

24. 2022-03-28
    status Pending

    Show marketing remark (232 chars)

    Great investment opportunity in an active part of Petersburg- flip or rental. Blocks from Old Towne, in an area where many homes are being renovated. This property will not qualify for FHA, VHDA or VA loans. Sold in as-is condition.

25. 2022-03-27
    price $35,800

    Show marketing remark (232 chars)

    Great investment opportunity in an active part of Petersburg- flip or rental. Blocks from Old Towne, in an area where many homes are being renovated. This property will not qualify for FHA, VHDA or VA loans. Sold in as-is condition.

26. 2022-03-21
    listed $39,700 Active

    Show marketing remark (232 chars)

    Great investment opportunity in an active part of Petersburg- flip or rental. Blocks from Old Towne, in an area where many homes are being renovated. This property will not qualify for FHA, VHDA or VA loans. Sold in as-is condition.

27. 2009-09-22
    historical
28. 2009-09-22
    historical
29. 2009-09-22
    historical
30. 2008-10-22
    soldstatus $27,500
31. 2008-09-11
    historical
32. 2008-07-09
    listed $27,500
33. 2008-07-09
    listed $27,500
34. 2008-06-16
    historical
35. 2008-03-07
    listed $27,500
36. 2008-03-07
    listed $27,500
37. 2008-03-06
    historical
38. 2007-12-05
    listed $39,950
39. 2007-12-05
    listed $39,950
40. 2004-11-19
    soldstatus $14,000
41. 2004-11-16
    soldstatus $14,000
42. 2002-11-22
    listed $17,500
43. 2002-11-22
    listed $17,500

ⓘ 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: $381 · $32/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$849/yr (+$71/mo · 222.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 46% 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: $14,993
• − Mortgage interest: −$8,402
• − Property taxes: −$381
• − Insurance: −$750
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$4,364
• Taxable loss: −$1,303
• Est. tax savings @ 24.0%: +$313
• After-tax cash flow: $1,587/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: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• Metro: Richmond, VA
• 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

+757.1% since first listed

28 events — show timeline

• 2026-04-20 Listed $150,000 CVRMLS
• 2026-02-17 Listing Removed — CVRMLS
• 2026-02-16 Relisted — CVRMLS
• 2026-02-05 Pending — CVRMLS
• 2026-01-12 Listed $125,000 CVRMLS
• 2022-10-31 Sold (Public Records) $34,300 Public Records
• 2022-04-13 Sold (Public Records) $30,000 Public Records
• 2022-04-12 Sold (MLS) $30,000 CVRMLS
• 2022-03-28 Pending — CVRMLS
• 2022-03-27 Price Changed $35,800 CVRMLS
• 2022-03-21 Listed $39,700 CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2008-10-22 Sold (Public Records) $27,500 Public Records
• 2008-09-11 Listing Removed — CVRMLS
• 2008-07-09 Listed $27,500 CVRMLS
• 2008-07-09 Listed $27,500 CVRMLS
• 2008-06-16 Listing Removed — CVRMLS
• 2008-03-07 Listed $27,500 CVRMLS
• 2008-03-07 Listed $27,500 CVRMLS
• 2008-03-06 Listing Removed — CVRMLS
• 2007-12-05 Listed $39,950 CVRMLS
• 2007-12-05 Listed $39,950 CVRMLS
• 2004-11-19 Sold (Public Records) $14,000 Public Records
• 2004-11-16 Sold (MLS) $14,000 CVRMLS
• 2002-11-22 Listed $17,500 CVRMLS
• 2002-11-22 Listed $17,500 CVRMLS

Property tax history

-0.0%/yr

Latest (2025): $381 · +100.0% YoY. Source: county tax records.