1423 N Main St · Danville, VA 24540

$60,000

3 bd · 1.0 ba · 1,465 sqft · SingleFamily public records · 320 Days on market

Built 1920 0.39 ac lot $41/sqft · 23% below area Est $78k · 23% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUGE 1465 square foot home 3 bedrooms and 1 bath, with TALL ceilings, HARDWOOD flooring, DEDICATED dining room, SPACIOUS bedrooms, DEDICATED laundry room, additional dinette area or storage/pantry! New roof, gas furnace ducted throughout, NEW ROOF 2022, updated elec!! Verry pretty landscaped level fenced-in yard front and back (lot goes all the way back to Abbott St) with outbuilding, handsome rear deck partially covered, combo basement and crawl space plenty of room/headroom. Convenient to shops, offices, restaurants, only a mile walk to the River District with Farmer's Market, coffee shops, YMCA, Riverwalk, etc! In fair shape but needs finishing touches, drywall, paint, etc. Would make a great starter home or investment property.

Key facts

• Handsome rear deck
• 0.39 acre lot
• Built 1920

Tags

• DEDICATED DINING ROOM
• DEDICATED LAUNDRY ROOM
• HANDSOME REAR DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 5.3% in Danville — 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 77/100 on livability (#91 in VA, #2,952 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, crime D-, commute F.
• Danville City Public School District (town): math 30% / reading 44% proficiency, ranked #128 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 211 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 90% of comp listings sitting > 30 days — soft ceiling on asking rent; 54 units permitted in Danville city in 2024 (40 in 5+ unit buildings).
• This rent runs 33% of the median local income ($48k/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 $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Danville County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 320 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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?
6. Crime grade is D 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. 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.
8. 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.
9. 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: 2.17% ✓
• Cap rate: 18.56%
• Cash-on-cash: 43.80%
• DSCR: 2.95
• GRM: 3.8

CMA / ARV

• ARV (median comp): $77,577
• List price: $60,000
• Delta: -22.66%
• 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
202 Moffett St	0.39mi	3/1.0	1,428 (-2%)	2mo	$38,000	$27	76
192 North Ave	0.31mi	3/1.5	1,509 (+3%)	5mo	$120,500	$80	75
415/417 First St	0.35mi	2/2.0 (-1)	1,375 (-6%)	4mo	$100,000	$73	61
219 Greenwich Cir	0.48mi	3/2.0	1,548 (+6%)	8mo	$165,000	$107	58
214 Baugh St	0.57mi	3/1.0	1,367 (-7%)	9mo	$27,500	$20	54
210 Baugh St	0.57mi	2/1.0 (-1)	1,530 (+4%)	9mo	$25,000	$16	53
1103 Washington St	0.53mi	4/1.0 (+1)	1,556 (+6%)	11mo	$74,000	$48	50
815 Wyllie Ave	0.53mi	3/1.5	1,632 (+11%)	6mo	$12,100	$7	49
131 Chilton Ct	0.54mi	3/2.0	1,600 (+9%)	11mo	$207,000	$129	46
520 N Main St	0.75mi	2/1.0 (-1)	1,378 (-6%)	6mo	$30,000	$22	46
2127 N Main St	0.66mi	4/2.0 (+1)	1,569 (+7%)	8mo	$139,900	$89	42
204 Sunset Dr	0.74mi	2/2.0 (-1)	1,268 (-13%)	11mo	$87,000	$69	25

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: 40.7%
• Equity multiple: 2.75×
• Total profit: $29,349
• Equity at exit: $8,946

10-year hold

• IRR: 47.0%
• Equity multiple: 5.52×
• Total profit: $75,922
• Equity at exit: $5,188

Cash invested: $16,800 (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 24540

• Home prices YoY: -20.0%
• Active inventory: 211
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,301 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $613

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 48%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Moffett St Danville, VA	4.0	1.5	1564	$1,150	$0.74	43d	1	0.39mi
117 Ida St Danville, VA	3.0	1.0	925	$1,163	$1.26	43d	1	0.70mi
128 Lowell St Danville, VA	3.0	1.0	918	$1,050	$1.14	43d	1	0.88mi
134 Hartford St Danville, VA	4.0	1.0	1325	$1,350	$1.02	43d	1	1.02mi
601 Bridge St Unit 117 Danville, VA	2.0	2.0	1294	$1,650	$1.28	21d	1	1.26mi
601 Bridge St Unit 15 Danville, VA	2.0	1.0	1294	$1,400	$1.08	43d	1	1.26mi
601 Bridge St Unit 116 Danville, VA	2.0	1.0	1294	$1,575	$1.22	43d	1	1.26mi
315 Lynn St Apt 404 Danville, VA	2.0	2.0	1046	$1,500	$1.43	43d	1	1.34mi
614 Lynn St Apt 303 Danville, VA	2.0	2.0	1200	$929	$0.77	43d	1	1.46mi
614 Lynn St Apt 312 Danville, VA	2.0	1.5	1200	$929	$0.77	43d	1	1.46mi

Listing history 25 events

1. 2026-06-19
   days on market $60,000 Active 320 DOM
2. 2026-06-18
   days on market $60,000 Active 319 DOM
3. 2026-06-17
   days on market $60,000 Active 318 DOM
4. 2026-06-16
   days on market $60,000 Active 317 DOM
5. 2026-06-15
   days on market $60,000 Active 316 DOM
6. 2026-06-14
   days on market $60,000 Active 314 DOM
7. 2026-06-13
   days on market $60,000 Active 313 DOM
8. 2026-06-10
   days on market $60,000 Active 311 DOM
9. 2026-06-09
   days on market $60,000 Active 310 DOM
10. 2026-06-08
    days on market $60,000 Active 309 DOM
11. 2026-06-07
    days on market $60,000 Active 308 DOM
12. 2026-06-05
    days on market $60,000 Active 305 DOM
13. 2026-06-02
    days on market $60,000 Active 303 DOM
14. 2026-06-01
    days on market $60,000 Active 302 DOM
15. 2026-05-31
    days on market $60,000 Active 301 DOM
16. 2026-05-30
    days on market $60,000 Active 300 DOM
17. 2026-02-06
    price $60,000 744-char remark

    Show marketing remark (744 chars)

    HUGE 1465 square foot home 3 bedrooms and 1 bath, with TALL ceilings, HARDWOOD flooring, DEDICATED dining room, SPACIOUS bedrooms, DEDICATED laundry room, additional dinette area or storage/pantry! New roof, gas furnace ducted throughout, NEW ROOF 2022, updated elec!! Verry pretty landscaped level fenced-in yard front and back (lot goes all the way back to Abbott St) with outbuilding, handsome rear deck partially covered, combo basement and crawl space plenty of room/headroom. Convenient to shops, offices, restaurants, only a mile walk to the River District with Farmer's Market, coffee shops, YMCA, Riverwalk, etc! In fair shape but needs finishing touches, drywall, paint, etc. Would make a great starter home or investment property.

18. 2026-02-04
    status Active 744-char remark

    Show marketing remark (744 chars)

    HUGE 1465 square foot home 3 bedrooms and 1 bath, with TALL ceilings, HARDWOOD flooring, DEDICATED dining room, SPACIOUS bedrooms, DEDICATED laundry room, additional dinette area or storage/pantry! New roof, gas furnace ducted throughout, NEW ROOF 2022, updated elec!! Verry pretty landscaped level fenced-in yard front and back (lot goes all the way back to Abbott St) with outbuilding, handsome rear deck partially covered, combo basement and crawl space plenty of room/headroom. Convenient to shops, offices, restaurants, only a mile walk to the River District with Farmer's Market, coffee shops, YMCA, Riverwalk, etc! In fair shape but needs finishing touches, drywall, paint, etc. Would make a great starter home or investment property.

19. 2025-09-09
    price $65,000 744-char remark

    Show marketing remark (744 chars)

    HUGE 1465 square foot home 3 bedrooms and 1 bath, with TALL ceilings, HARDWOOD flooring, DEDICATED dining room, SPACIOUS bedrooms, DEDICATED laundry room, additional dinette area or storage/pantry! New roof, gas furnace ducted throughout, NEW ROOF 2022, updated elec!! Verry pretty landscaped level fenced-in yard front and back (lot goes all the way back to Abbott St) with outbuilding, handsome rear deck partially covered, combo basement and crawl space plenty of room/headroom. Convenient to shops, offices, restaurants, only a mile walk to the River District with Farmer's Market, coffee shops, YMCA, Riverwalk, etc! In fair shape but needs finishing touches, drywall, paint, etc. Would make a great starter home or investment property.

20. 2025-07-24
    listed $69,900 Active 744-char remark

    Show marketing remark (744 chars)

    HUGE 1465 square foot home 3 bedrooms and 1 bath, with TALL ceilings, HARDWOOD flooring, DEDICATED dining room, SPACIOUS bedrooms, DEDICATED laundry room, additional dinette area or storage/pantry! New roof, gas furnace ducted throughout, NEW ROOF 2022, updated elec!! Verry pretty landscaped level fenced-in yard front and back (lot goes all the way back to Abbott St) with outbuilding, handsome rear deck partially covered, combo basement and crawl space plenty of room/headroom. Convenient to shops, offices, restaurants, only a mile walk to the River District with Farmer's Market, coffee shops, YMCA, Riverwalk, etc! In fair shape but needs finishing touches, drywall, paint, etc. Would make a great starter home or investment property.

21. 2023-11-22
    soldstatus $50,000
22. 2023-02-28
    soldstatus $41,000 Closed 503-char remark

    Show marketing remark (503 chars)

    Great potential in this home for primary residence or rental property / investment. Hardwood floors throughout, large bedrooms, very nice covered front porch and rear deck overlooking expansive fenced in backyard with outbuilding. Updated electrical, new water heater, newer furnace, metal roof, updated electrical, lots of storage in roomy unfinished basement. House would do great as 3br rental or private room rental with community kitchen, LR, and bathroom. CENTRAL AC on premises but not hooked up.

23. 2023-02-28
    soldstatus $41,000

    Show marketing remark (503 chars)

    Great potential in this home for primary residence or rental property / investment. Hardwood floors throughout, large bedrooms, very nice covered front porch and rear deck overlooking expansive fenced in backyard with outbuilding. Updated electrical, new water heater, newer furnace, metal roof, updated electrical, lots of storage in roomy unfinished basement. House would do great as 3br rental or private room rental with community kitchen, LR, and bathroom. CENTRAL AC on premises but not hooked up.

24. 2023-02-12
    listed $44,900 Active 503-char remark

    Show marketing remark (503 chars)

    Great potential in this home for primary residence or rental property / investment. Hardwood floors throughout, large bedrooms, very nice covered front porch and rear deck overlooking expansive fenced in backyard with outbuilding. Updated electrical, new water heater, newer furnace, metal roof, updated electrical, lots of storage in roomy unfinished basement. House would do great as 3br rental or private room rental with community kitchen, LR, and bathroom. CENTRAL AC on premises but not hooked up.

25. 2008-03-13
    soldstatus $17,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $15,612
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$1,745
• Taxable income: $6,808
• Est. tax owed @ 24.0%: −$1,634
• After-tax cash flow: $5,724/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: Danville City Public School District
• NCES district ID: 5101110
• Math proficiency: 30% ▼ -22.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $31,952
• Composite: 30.23/100
• National rank: #6298
• State rank: #128 of 131 in VA

Livability — Danville

• Score: 77/100
• State rank: #91
• US rank: #2952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, VA
• County: Danville City · 59,055 people
• City population: 59,055
• Metro: Danville, VA
• Population (ZIP): 31,013
• Household income: $47,924
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1170.0

Population outlook (Danville County) Hauer SSP2

• Today (2025): 40,989 people
• By 2030: 40,432 · -1.4%
• By 2040: 39,255 · -4.2%
• By 2050: 38,035 · -7.2%
• By 2075: 35,612 · -13.1%
• By 2100: 30,365 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 50% Black 42% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Danville

• 2024 margin: Strong D (+21.1) · D 60.1% · R 39.0%
• 2008→2024 swing: +1.9pp toward D · 2008: 19.1pp · 2024: 21.1pp
• All cycles: 2024: D+21.1 2020: D+22.1 2016: D+19.9 2012: D+22.1 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.79%
• Current HPI: 235.1746
• Rent YoY: —
• Metro: Danville, 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

+235.2% since first listed

9 events — show timeline

• 2026-02-06 Price Changed $60,000 DRRAR
• 2026-02-04 Relisted — DRRAR
• 2025-09-09 Price Changed $65,000 DRRAR
• 2025-07-24 Listed $69,900 DRRAR
• 2023-11-22 Sold (Public Records) $50,000 Public Records
• 2023-02-28 Sold (Public Records) $41,000 Public Records
• 2023-02-28 Sold (MLS) $41,000 DRRAR
• 2023-02-12 Listed $44,900 DRRAR
• 2008-03-13 Sold (Public Records) $17,900 Public Records

Property tax history

-6.5%/yr

Latest (2025): $71 · +0.0% YoY. Source: county tax records.