402 S Main St · Lawrenceville, VA 23868

$119,500

4 bd · 2.0 ba · 2,500 sqft · SingleFamily · 12 Days on market

Built 1918 0.38 ac lot

---

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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Appreciation +6.0/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover the charm of quiet country living in Lawrenceville, VA, one of Southside Virginia's best-kept secrets—peaceful, growing, and full of opportunity. This beautiful 3-bedroom, 2.5-bathroom home sits on a spacious 1/4 +/-acre city lot and boasts over 2,500 sq. ft. of living space across two floors. Step into timeless elegance with tall ceilings, arts-and-crafts style architecture, a hip roof, and wraparound porch perfect for rocking chairs and evening breezes. The home also includes a full basement—ideal for storage, hobbies, or finishing to expand your living space. Whether you're seeking a smart investment property, a relaxing retirement home, or a quiet personal retreat,

Key facts

• Quiet country living
• Full basement
• Spacious city lot

Tags

• QUIET COUNTRY LIVING
• SPACIOUS CITY LOT
• FULL BASEMENT
• WRAPAROUND PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

Location & tenants

• Location reads 69/100 on livability (#258 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Brunswick County Public School District (rural): math 24% / reading 47% proficiency, ranked #130 of 131 in VA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 37 units permitted in Brunswick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($826 loan paydown + $2k appreciation (2.0% local appreciation)).
• Brunswick County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,500

Questions for the listing agent

1. Built in 1918 — 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. 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.
4. 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.
5. 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: 1.13% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.38%
• DSCR: 1.55
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $252,500
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 S Main St	0.13mi	3/2.0 (-1)	2,754 (+10%)	15mo	$290,000	$105	59
205 W 5th Ave	0.19mi	4/2.0	2,208 (-12%)	18mo	$87,500	$40	57
419 N Main St	0.48mi	4/2.0	2,187 (-12%)	8mo	$220,000	$101	50

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

Projected returns pro-forma

1.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 1.89×
• Total profit: $29,916
• Equity at exit: $46,901

10-year hold

• IRR: 19.0%
• Equity multiple: 3.51×
• Total profit: $83,983
• Equity at exit: $67,359

Cash invested: $33,460 (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 23868

• Home prices YoY: 2.0%
• Active inventory: 43
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$45 /mo · $538/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $345

Break-even live

Break-even rent $913

Max offer price $119,500

Occupancy floor 69%

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
512 Maple St Lawrenceville, VA	3.0	1.0	1968	$1,350	$0.69	21d	1	0.66mi

Listing history 2 events

1. 2025-06-24
   status Pending
2. 2025-06-12
   listed $119,500 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: $538 · $45/mo
• Projected year-2 tax: $980 · $82/mo
• Expected delta: +$442/yr (+$37/mo · 82.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,200
• − Mortgage interest: −$6,694
• − Property taxes: −$538
• − Insurance: −$598
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$3,476
• Taxable income: $2,302
• Est. tax owed @ 24.0%: −$553
• After-tax cash flow: $3,590/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: Brunswick County Public School District
• NCES district ID: 5100480
• Math proficiency: 24% ▼ -44.00%
• Reading proficiency: 47% ▼ -15.00%
• Median HH income: $37,085
• Composite: 29.44/100
• National rank: #6520
• State rank: #130 of 131 in VA

Livability — Lawrenceville

• Score: 69/100
• State rank: #258
• US rank: #9024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawrenceville, VA
• Population (ZIP): 6,215

Population outlook (Brunswick County) Hauer SSP2

• Today (2025): 14,860 people
• By 2030: 13,946 · -6.2%
• By 2040: 12,029 · -19.1%
• By 2050: 10,370 · -30.2%
• By 2075: 7,708 · -48.1%
• By 2100: 5,718 · -61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 27% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Brunswick

• 2024 margin: Lean D (+8.5) · D 54.1% · R 45.5%
• 2008→2024 swing: -17.9pp toward R · 2008: 26.5pp · 2024: 8.5pp
• All cycles: 2024: D+8.5 2020: D+15.0 2016: D+18.7 2012: D+25.3 2008: D+26.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.96%
• Current HPI: 98.6309
• 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

2 events — show timeline

• 2025-06-24 Pending — SCAR
• 2025-06-12 Listed $119,500 SCAR

Property tax history

+2.9%/yr

Latest (2025): $538 · +0.0% YoY. Source: county tax records.