201 W Third St · South Hill, VA 23970

$179,000

2 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 21 Days on market

Built 1964 Est $143k · 25% 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 +15.7/30.0
• Schools +5.4/10.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sunny, surprisingly spacious 3-bedroom bungalow on a quiet residential street just minutes from town. This home features a generous full bath, a large, light-filled den perfect for relaxing or entertaining, and a separate office/den ideal for working from home or hobby space. The layout is easy and comfortable, with good-sized bedrooms, wide hallways, and plenty of room to move around. Outside, the property sits on a peaceful, established street offering a calm neighborhood feel while still keeping shops, restaurants, and services conveniently close by.

Key facts

• Full bath
• Separate office den
• Light filled den

Tags

• FULL BATH
• LIGHT FILLED DEN
• SEPARATE OFFICE DEN

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Frame construction; Asbestos siding or materials; Composition roof; Built in (actual year recorded)
• Exterior features: Public water; Public sewer

Interior

• Kitchen: Electric cooking; Refrigerator
• Bedrooms: Bedroom located on the first floor
• Flooring: Linoleum; Wood
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Bedroom on main level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $77 ($927/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 $166k (7.1% below list).
• Recommended offer: $166k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.6% in South Hill — 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 (#102 in VA, #3,220 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute 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.
• Market conditions: 58 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $74k; list at $179k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,368 (7.1% below list)

Questions for the listing agent

1. Built in 1964 — 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 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. 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?
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: 0.93% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.85%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $142,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1102 Goodes Ferry Rd	0.20mi	3/1.5 (+1)	1,392 (-1%)	2mo	$142,000	$102	81

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-24,059
• Equity at exit: $26,689

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-14,510
• Equity at exit: $15,477

Cash invested: $50,120 (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 23970

• Home prices YoY: -16.6%
• Active inventory: 58
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,664 medium
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $77

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 90%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1120 Goodes Ferry Rd South Hill, VA	3.0	1.5	936	$1,700	$1.82	23d	1	0.30mi
238 Beaver Creek Dr South Hill, VA	3.0	2.0	1572	$2,100	$1.34	43d	1	1.35mi
440 Thompson St La Crosse, VA	3.0	2.0	1558	$1,650	$1.06	14d	1	1.46mi

Listing history 14 events

1. 2026-06-13
   statusdays on market $179,000 Pending 21 DOM
2. 2026-06-10
   days on market $179,000 Active 20 DOM
3. 2026-06-09
   days on market $179,000 Active 19 DOM
4. 2026-06-08
   days on market $179,000 Active 18 DOM
5. 2026-06-07
   days on market $179,000 Active 17 DOM
6. 2026-06-05
   days on market $179,000 Active 14 DOM
7. 2026-06-03
   days on market $179,000 Active 13 DOM
8. 2026-06-02
   days on market $179,000 Active 12 DOM
9. 2026-06-01
   days on market $179,000 Active 11 DOM
10. 2026-05-31
    days on market $179,000 Active 10 DOM
11. 2026-05-31
    days on market $179,000 Active 9 DOM
12. 2026-05-21
    listed $179,000 Active 559-char remark

    Show marketing remark (559 chars)

    Sunny, surprisingly spacious 3-bedroom bungalow on a quiet residential street just minutes from town. This home features a generous full bath, a large, light-filled den perfect for relaxing or entertaining, and a separate office/den ideal for working from home or hobby space. The layout is easy and comfortable, with good-sized bedrooms, wide hallways, and plenty of room to move around. Outside, the property sits on a peaceful, established street offering a calm neighborhood feel while still keeping shops, restaurants, and services conveniently close by.

13. 2026-05-20
    listed $179,000 Active
14. 2006-03-10
    soldstatus $73,500

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,964
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$5,207
• Taxable loss: −$2,044
• Est. tax savings @ 24.0%: +$491
• After-tax cash flow: $1,418/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 — South Hill

• Score: 77/100
• State rank: #102
• US rank: #3220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Hill, VA
• County: Mecklenburg County · 8,109 people
• City population: 8,109
• Metro: nan
• Population (ZIP): 8,109
• Household income: $65,170
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 129.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 50% Black 37% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 1% Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 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: ▼ -37.95%
• Current HPI: 190.7286
• Rent YoY: —
• Metro: nan
• 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

+143.5% since first listed

3 events — show timeline

• 2026-05-21 Listed $179,000 RVLG
• 2026-05-20 Listed $179,000 CVRMLS
• 2006-03-10 Sold (Public Records) $73,500 Public Records

Property tax history

+0.4%/yr

Latest (2025): $289 · +0.0% YoY. Source: county tax records.