1015 Field Ave · Fieldale, VA 24089

$44,000

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 3 Days on market

Built 1922 0.33 ac lot Est $41k · 7% over ↓ 12% since listing

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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
• Appreciation +4.7/10.0
• Schools +4.7/10.0
• ARV discount +4.4/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

SOLD AS-IS, No seller paid repairs or inspections. Per seller hot water heater, furnace/AC, some electrical wiring and plumbing missing. Has forced air ducts. Corner lot with back yard fencing! Definite possibilities in this small community with great location to Hwy 220 bypass going north and south! 3 bed/1 bath with laundry on main floor/in kitchen. Hardwood floors and deck out back. Basement/cellar outside entry only. Outbuilding. Oversize concrete driveway.

Key facts

• Outbuilding
• Fenced in back yard
• Hardwood floors

Tags

• HARDWOOD FLOORS
• FENCED IN BACK YARD
• OUTBUILDING
• DECK ACROSS BACK OF HOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $44k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($889 rent vs $44k).

Location & tenants

• Location reads 63/100 on livability (#381 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 19 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $41 of equity ($304 loan paydown + $-263 appreciation (-0.6% local appreciation)).
• Henry County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y 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 $35k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,000

Questions for the listing agent

1. Built in 1922 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.02% ✓
• Cap rate: 18.09%
• Cash-on-cash: 42.12%
• DSCR: 2.87
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $41,160
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1015 Field Ave	0.00mi	3/1.0 (+1)	1,176 (0%)	1mo	$41,000	$35	94
250 Chestnut St	0.41mi	2/1.0	1,148 (-2%)	3mo	$76,200	$66	74
685 Chestnut St	0.25mi	3/1.0 (+1)	1,224 (+4%)	6mo	$30,000	$25	71
428 10th St	0.42mi	2/1.0	1,223 (+4%)	6mo	$35,000	$29	69
99 Hill St	0.14mi	2/2.0	1,130 (-4%)	18mo	$144,000	$127	67
940 Chestnut St	0.38mi	2/1.0	1,176 (0%)	23mo	$138,000	$117	63
142 Chestnut St	0.50mi	3/1.0 (+1)	1,221 (+4%)	10mo	$43,000	$35	57
87 Chadmore Dr	0.41mi	3/1.0 (+1)	1,041 (-12%)	2mo	$26,000	$25	55
781 Field Ave	0.23mi	2/1.0	1,007 (-14%)	23mo	$120,000	$119	46

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

Projected returns pro-forma

-0.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 3.03×
• Total profit: $25,022
• Equity at exit: $11,475

10-year hold

• IRR: 45.9%
• Equity multiple: 6.00×
• Total profit: $61,646
• Equity at exit: $12,793

Cash invested: $12,320 (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 24089

• Home prices YoY: -0.5%
• Active inventory: 19
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $889 high
• Mortgage (P&I): −$231
• Tax from tax record: −$21 /mo · $250/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $432

Break-even live

Break-even rent $342

Max offer price $44,000

Occupancy floor 46%

Sensitivity live

Price	-10% $457	-5% $445	+0% $432	+5% $420	+10% $407
Rent	-10% $362	-5% $397	+0% $432	+5% $468	+10% $503
Rate	-1.0pp $455	-0.5pp $444	base $432	+0.5pp $421	+1.0pp $409

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: $11,000
• Closing costs: $1,320
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Vera Dr Unit 9 Collinsville, VA	2.0	1.0	800	$800	$1.00	44d	1	0.96mi
79 Ridgemont Cir Apt 7 Collinsville, VA	1.0	1.0	750	$825	$1.10	44d	1	1.17mi
79 Ridgemont Cir Unit 3 Collinsville, VA	1.0	1.0	750	$800	$1.07	44d	1	1.17mi
79 Ridgemont Cir Apt 5 Collinsville, VA	1.0	1.0	750	$750	$1.00	44d	1	1.17mi
1222 The Great Rd Fieldale, VA	2.0	2.0	1000	$1,200	$1.20	44d	1	1.19mi

Listing history 14 events

1. 2026-03-25
   status Pending
2. 2026-03-21
   listed $44,000 Active
3. 2024-03-19
   soldstatus $35,000 Closed 466-char remark

   Show marketing remark (466 chars)

   SOLD AS-IS, No seller paid repairs or inspections. Per seller hot water heater, furnace/AC, some electrical wiring and plumbing missing. Has forced air ducts. Corner lot with back yard fencing! Definite possibilities in this small community with great location to Hwy 220 bypass going north and south! 3 bed/1 bath with laundry on main floor/in kitchen. Hardwood floors and deck out back. Basement/cellar outside entry only. Outbuilding. Oversize concrete driveway.

4. 2024-03-19
   soldstatus $35,000

   Show marketing remark (466 chars)

   SOLD AS-IS, No seller paid repairs or inspections. Per seller hot water heater, furnace/AC, some electrical wiring and plumbing missing. Has forced air ducts. Corner lot with back yard fencing! Definite possibilities in this small community with great location to Hwy 220 bypass going north and south! 3 bed/1 bath with laundry on main floor/in kitchen. Hardwood floors and deck out back. Basement/cellar outside entry only. Outbuilding. Oversize concrete driveway.

5. 2024-02-18
   status Pending 466-char remark

   Show marketing remark (466 chars)

   SOLD AS-IS, No seller paid repairs or inspections. Per seller hot water heater, furnace/AC, some electrical wiring and plumbing missing. Has forced air ducts. Corner lot with back yard fencing! Definite possibilities in this small community with great location to Hwy 220 bypass going north and south! 3 bed/1 bath with laundry on main floor/in kitchen. Hardwood floors and deck out back. Basement/cellar outside entry only. Outbuilding. Oversize concrete driveway.

6. 2024-02-17
   listed $39,000 Active 466-char remark

   Show marketing remark (466 chars)

   SOLD AS-IS, No seller paid repairs or inspections. Per seller hot water heater, furnace/AC, some electrical wiring and plumbing missing. Has forced air ducts. Corner lot with back yard fencing! Definite possibilities in this small community with great location to Hwy 220 bypass going north and south! 3 bed/1 bath with laundry on main floor/in kitchen. Hardwood floors and deck out back. Basement/cellar outside entry only. Outbuilding. Oversize concrete driveway.

7. 2024-02-16
   soldstatus $45,500
8. 2020-01-31
   soldstatus $45,500 203-char remark

   Show marketing remark (203 chars)

   Cute cute home located in the heart of Fieldale. Rear fenced yard. Split bedroom floor plan. Knotty pine paneling living room. Gas dryer. Huge deck at rear of house. A MUST SEE! Lot size and sq. ft. est.

9. 2020-01-31
   soldstatus $45,500

   Show marketing remark (203 chars)

   Cute cute home located in the heart of Fieldale. Rear fenced yard. Split bedroom floor plan. Knotty pine paneling living room. Gas dryer. Huge deck at rear of house. A MUST SEE! Lot size and sq. ft. est.

10. 2020-01-31
    soldstatus $45,500

    Show marketing remark (203 chars)

    Cute cute home located in the heart of Fieldale. Rear fenced yard. Split bedroom floor plan. Knotty pine paneling living room. Gas dryer. Huge deck at rear of house. A MUST SEE! Lot size and sq. ft. est.

11. 2020-01-31
    soldstatus $45,500

    Show marketing remark (203 chars)

    Cute cute home located in the heart of Fieldale. Rear fenced yard. Split bedroom floor plan. Knotty pine paneling living room. Gas dryer. Huge deck at rear of house. A MUST SEE! Lot size and sq. ft. est.

12. 2019-07-08
    listed $49,900 203-char remark

    Show marketing remark (203 chars)

    Cute cute home located in the heart of Fieldale. Rear fenced yard. Split bedroom floor plan. Knotty pine paneling living room. Gas dryer. Huge deck at rear of house. A MUST SEE! Lot size and sq. ft. est.

13. 2019-07-08
    listed $49,900

    Show marketing remark (203 chars)

    Cute cute home located in the heart of Fieldale. Rear fenced yard. Split bedroom floor plan. Knotty pine paneling living room. Gas dryer. Huge deck at rear of house. A MUST SEE! Lot size and sq. ft. est.

14. 2019-07-08
    listed $49,900

    Show marketing remark (203 chars)

    Cute cute home located in the heart of Fieldale. Rear fenced yard. Split bedroom floor plan. Knotty pine paneling living room. Gas dryer. Huge deck at rear of house. A MUST SEE! Lot size and sq. ft. est.

ⓘ 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: $250 · $21/mo
• Projected year-2 tax: $361 · $30/mo
• Expected delta: +$110/yr (+$9/mo · 44.1%)

ⓘ 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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $10,668
• − Mortgage interest: −$2,465
• − Property taxes: −$250
• − Insurance: −$220
• − Repairs & maintenance: −$853
• − Management: −$853
• − Depreciation: −$1,280
• Taxable income: $4,746
• Est. tax owed @ 24.0%: −$1,139
• After-tax cash flow: $4,050/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: Henry County Public School District
• NCES district ID: 5101920
• Math proficiency: 45% ▼ -37.00%
• Reading proficiency: 69% ▼ -6.00%
• Median HH income: $34,579
• Composite: 47.02/100
• National rank: #2345
• State rank: #78 of 131 in VA

Livability — Fieldale

• Score: 63/100
• State rank: #381
• US rank: #15400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fieldale, VA
• Population (ZIP): 2,074

Population outlook (Henry County) Hauer SSP2

• Today (2025): 46,903 people
• By 2030: 44,141 · -5.9%
• By 2040: 38,687 · -17.5%
• By 2050: 33,742 · -28.1%
• By 2075: 25,720 · -45.2%
• By 2100: 19,868 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 17% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Scotch-Irish 2% Russian 1%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+32.8) · D 33.3% · R 66.1%
• 2008→2024 swing: -22.4pp toward R · 2008: -10.5pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.1 2016: R+29.2 2012: R+14.7 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.60%
• Current HPI: 122.8354
• 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

-11.8% since first listed

14 events — show timeline

• 2026-03-25 Pending — MHPCAR
• 2026-03-21 Listed $44,000 MHPCAR
• 2024-03-19 Sold (Public Records) $35,000 Public Records
• 2024-03-19 Sold (MLS) $35,000 MHPCAR
• 2024-02-18 Pending — MHPCAR
• 2024-02-17 Listed $39,000 MHPCAR
• 2024-02-16 Sold (Public Records) $45,500 Public Records
• 2020-01-31 Sold (Public Records) $45,500 Public Records
• 2020-01-31 Sold (MLS) $45,500 MHPCAR
• 2020-01-31 Sold (MLS) $45,500 MLSRV
• 2020-01-31 Sold (MLS) $45,500 DRRAR
• 2019-07-08 Listed $49,900 MHPCAR
• 2019-07-08 Listed $49,900 MLSRV
• 2019-07-08 Listed $49,900 DRRAR

Property tax history

+1.3%/yr

Latest (2025): $250 · +0.0% YoY. Source: county tax records.