265 Proctor St · Drakes Branch, VA 23937

$210,000

5 bd · 2.0 ba · 3,563 sqft · SingleFamily public records · 37 Days on market

Built 1965 1.42 ac lot $59/sqft · 41% below area Est $354k · 41% under

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Why this score? — see what drove the C 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).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• Appreciation +8.9/10.0
• Schools +5.1/10.0
• DSCR +4.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Listing remarks

Step into a grand vision of the past with this stately Victorian reproduction at 265 Proctor Street. Boasting over 3,500 square feet of expansive living space, this residence represents a rare opportunity to restore a landmark-style property in the heart of Drakes Branch. While the home captures the timeless aesthetic of a bygone era, its massive scale and functional layout make it far more than just a private residence. This property is a prime candidate for a premier Bed and Breakfast or a boutique event venue, offering the kind of architectural character and presence that guests gravitate toward. The interior features five spacious bedrooms and three bathrooms, providing the essential in

Key facts

• Lush acres
• Spacious bedrooms
• 1.42 acre lot

Tags

• VICTORIAN REPRODUCTION
• LANDMARK-STYLE PROPERTY
• ARCHITECTURAL CHARACTER
• SPACIOUS BEDROOMS
• AMPLE KITCHEN CABINETRY
• LUSH ACRES

Property features AI

Exterior

• Parking: Driveway parking; Off-street parking; Unpaved parking area
• Utilities: Public water; Public sewer; Electric service
• Home design: Two-story home; Resale property
• Construction: Built with block, clapboard, frame and drywall; Composition/shingle roof; Above-grade finished area approximately 3,563
• Exterior features: Unpaved driveway; Level lot

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Multiple upstairs bedrooms (several bedrooms on the second floor)
• Bathrooms: Three full bathrooms; Bathrooms include tub and shower combinations
• Heating & cooling: Heat pump for cooling; Heating includes baseboard, electric and forced air
• Interior features: Six decorative wood-burning fireplaces
• Laundry & utility: First-floor laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-2 ($-29/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (25.8% below list).
• Recommended offer: $156k (25.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#464 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, crime D+, schools F.
• Charlotte County Public School District (rural): math 51% / reading 72% proficiency, ranked #59 of 131 in VA (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 26 active listings in the ZIP; 39 units permitted in Charlotte County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (7.7% local appreciation)).
• Charlotte County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.7% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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 $175k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,777 (25.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.74% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 11.2

CMA / ARV

• ARV (median comp): $354,184
• List price: $210,000
• Delta: -40.71%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

7.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.41×
• Total profit: $82,696
• Equity at exit: $155,768

10-year hold

• IRR: 18.1%
• Equity multiple: 5.08×
• Total profit: $239,749
• Equity at exit: $305,666

Cash invested: $58,800 (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 23937

• Home prices YoY: 4.5%
• Active inventory: 26
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,558 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$44 /mo · $531/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-2

Break-even live

Break-even rent $1,561

Max offer price $209,573

Occupancy floor 95%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-07
   statusdays on market $210,000 Pending 37 DOM
2. 2026-06-03
   days on market $210,000 Active 35 DOM
3. 2026-06-02
   days on market $210,000 Active 34 DOM
4. 2026-06-01
   days on market $210,000 Active 33 DOM
5. 2026-05-31
   days on market $210,000 Active 32 DOM
6. 2026-04-27
   listed $210,000 Active 1747-char remark
7. 2026-04-23
   historical
8. 2026-01-13
   listed $210,000 Active
9. 2026-01-05
   historical
10. 2025-12-15
    status Active
11. 2025-10-02
    status Pending
12. 2025-06-13
    listed $220,000 Active
13. 2022-10-03
    soldstatus $175,000
14. 2022-09-28
    soldstatus $175,000 Closed
15. 2022-09-28
    soldstatus $175,000 Closed
16. 2022-08-05
    status Pending
17. 2022-07-19
    status Pending
18. 2022-07-08
    listed $182,000 Active
19. 2022-06-21
    listed $182,000 Active
20. 2022-05-28
    historical
21. 2022-03-04
    listed $194,875 Active

ⓘ 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: $531 · $44/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$1,191/yr (+$99/mo · 224.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $18,693
• − Mortgage interest: −$11,763
• − Property taxes: −$531
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,495
• − Management: −$1,495
• − Depreciation: −$6,109
• Taxable loss: −$3,752
• Est. tax savings @ 24.0%: +$900
• After-tax cash flow: $871/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: Charlotte County Public School District
• NCES district ID: 5100750
• Math proficiency: 51% ▼ -35.00%
• Reading proficiency: 72% ▼ -8.00%
• Median HH income: $35,822
• Composite: 50.88/100
• National rank: #1794
• State rank: #59 of 131 in VA

Livability — Drakes Branch

• Score: 59/100
• State rank: #464
• US rank: #19827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Drakes Branch, VA
• Population (ZIP): 2,079

Population outlook (Charlotte County) Hauer SSP2

• Today (2025): 11,224 people
• By 2030: 10,663 · -5.0%
• By 2040: 9,445 · -15.8%
• By 2050: 8,271 · -26.3%
• By 2075: 5,985 · -46.7%
• By 2100: 3,716 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 29% Two or more races 6%
• Common ancestry: Romanian 2% Italian 1% Danish 1%

Political lean MEDSL · Charlotte

• 2024 margin: Solid R (+32.5) · D 33.4% · R 66.0%
• 2008→2024 swing: -21.7pp toward R · 2008: -10.8pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+24.2 2016: R+22.9 2012: R+13.7 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.73%
• Current HPI: 179.6882
• 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

+7.8% since first listed

17 events — show timeline

• 2026-06-06 Pending — CVRMLS
• 2026-04-27 Listed $210,000 CVRMLS
• 2026-04-23 Listing Removed — CVRMLS
• 2026-01-13 Listed $210,000 CVRMLS
• 2026-01-05 Listing Removed — CVRMLS
• 2025-12-15 Relisted — CVRMLS
• 2025-10-02 Pending — CVRMLS
• 2025-06-13 Listed $220,000 CVRMLS
• 2022-10-03 Sold (Public Records) $175,000 Public Records
• 2022-09-28 Sold (MLS) $175,000 CVRMLS
• 2022-09-28 Sold (MLS) $175,000 SCAR
• 2022-08-05 Pending — SCAR
• 2022-07-19 Pending — CVRMLS
• 2022-07-08 Listed $182,000 SCAR
• 2022-06-21 Listed $182,000 CVRMLS
• 2022-05-28 Listing Removed — CVRMLS
• 2022-03-04 Listed $194,875 CVRMLS

Property tax history

+2.1%/yr

Latest (2025): $531 · -5.6% YoY. Source: county tax records.