3512 Fendall Ave · Richmond, VA 23222

$75,000

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 1 Days on market

Built 1952 6,926 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Two Bed/One Bath diamond in the rough! An investment property that needs lots of love! You'll have to see for yourself the potential this one holds.

Key facts

• 6,926 sq ft lot
• Parking
• Built 1952

Property features AI

Exterior

• Parking: Driveway; No garage; Paved access
• Utilities: Public water; Public sewer
• Home design: Single-story; Resale property; R-5 zoning
• Construction: Brick and plaster construction; Asphalt roof; Built (actual year not specified)
• Exterior features: Awning(s); Paved driveway; Alley access

Interior

• Bedrooms: Main level primary bedroom
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Ceiling fans; Laminate counters; Main-level primary bedroom

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 19.1% vs local median 3.3% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Richmond City Public School District (urban): math 32% / reading 47% proficiency, ranked #123 of 131 in VA (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.4%/yr); 179 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 34% of the median local income ($61k/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 $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Richmond County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1952 — 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 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?
5. 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.
6. 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.
7. 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: 2.33% ✓
• Cap rate: 19.08%
• Cash-on-cash: 45.67%
• DSCR: 3.03
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $267,648
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3512 Fendall Ave	0.00mi	2/1.0 (-1)	1,088 (0%)	1mo	$157,000	$144	94
3600 Garland Ave	0.09mi	3/2.0	972 (-11%)	3mo	$316,000	$325	72
103 E Laburnum Ave	0.35mi	4/1.0 (+1)	1,189 (+9%)	3mo	$199,000	$167	61
3407 Garland Ave	0.23mi	2/1.0 (-1)	1,242 (+14%)	2mo	$301,500	$243	59
3226 Cliff Ave	0.52mi	3/1.0	1,194 (+10%)	3mo	$156,000	$131	58
43 Loudon St	0.33mi	3/2.5	1,200 (+10%)	7mo	$295,000	$246	56
4111 Corbin St	0.67mi	3/1.5	1,152 (+6%)	2mo	$305,000	$265	55
3914 Alma Ave	0.41mi	3/1.5	1,236 (+14%)	3mo	$167,500	$136	54
3209 Cliff Ave	0.59mi	3/1.5	1,185 (+9%)	3mo	$305,000	$257	53
326 Hunt Ave	0.42mi	2/1.0 (-1)	940 (-14%)	0mo	$249,950	$266	52
107 N Chatham Dr	0.49mi	3/1.0	1,240 (+14%)	8mo	$235,000	$190	47
450 Patrick Ave	0.55mi	3/2.5	1,239 (+14%)	4mo	$320,000	$258	42

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 · 7.43% rent growth · sell at horizon

5-year hold

• IRR: 48.0%
• Equity multiple: 3.23×
• Total profit: $46,929
• Equity at exit: $11,183

10-year hold

• IRR: 55.6%
• Equity multiple: 7.82×
• Total profit: $143,179
• Equity at exit: $6,485

Cash invested: $21,000 (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 23222

• Rents YoY: 7.4%
• Active inventory: 179
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$393
• Tax from tax record: −$154 /mo · $1,848/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $799

Break-even live

Break-even rent $732

Max offer price $75,000

Occupancy floor 49%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3800 North Ave Richmond, VA	3.0	1.0	1008	$1,650	$1.64	11d	1	0.09mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	3d	1	0.29mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	17d	1	0.29mi
3600 Moss Side Ave Unit B Richmond, VA	2.0	1.0	800	$2,195	$2.74	43d	1	0.33mi
3716 Delmont St Richmond, VA	2.0	2.0	890	$1,122	$1.26	43d	1	0.40mi
3303 Branch Ave Richmond, VA	3.0	1.0	800	$1,300	$1.62	43d	1	0.53mi
401 Winston St Richmond, VA	2.0	1.0	784	$1,250	$1.59	1d	15	0.56mi
3510 Chamberlayne Ave Apt S Richmond, VA	2.0	1.0	849	$1,175	$1.38	23d	1	0.61mi
2922 Noble Ave Unit A Richmond, VA	2.0	1.0	1200	$1,499	$1.25	4d	1	0.72mi
3501 Meadowbridge Rd Richmond, VA	3.0	1.0	1383	$1,495	$1.08	19d	1	0.75mi
3501 Meadowbridge Rd Richmond, VA	3.0	1.0	1383	$1,495	$1.08	23d	1	0.75mi
3810 Chamberlayne Ave Unit G Richmond, VA	2.0	1.0	750	$1,095	$1.46	17d	1	0.77mi
3810 Chamberlayne Ave Unit B Richmond, VA	2.0	1.0	850	$1,095	$1.29	43d	1	0.77mi
622 Pollock St Richmond, VA	3.0	1.5	1122	$2,300	$2.05	23d	1	0.81mi
2807 Edgewood Ave Richmond, VA	3.0	1.0	1320	$1,750	$1.33	43d	1	0.82mi
3200 Brook Rd Richmond, VA	1.0–2.0	1.0–2.5	968	$2,633	$2.72	2d	20	0.85mi
2806 Hawthorne Ave Unit 1 Richmond, VA	2.0	1.0	1144	$1,400	$1.22	43d	1	0.93mi
3909 Patrick Ave Richmond, VA	3.0	1.5	1200	$2,650	$2.21	43d	1	0.96mi
3211 Maryland Ave Richmond, VA	4.0	1.5	1344	$1,871	$1.39	43d	1	0.97mi
3117 Meadowbridge Rd Richmond, VA	2.0	1.0	887	$1,225	$1.38	43d	1	0.98mi
3418 Carolina Ave Unit A Richmond, VA	2.0	1.0	1000	$1,524	$1.52	43d	1	1.06mi
2420 Barton Ave Apt 2 Richmond, VA	2.0	1.0	900	$1,150	$1.28	23d	1	1.09mi
3425 Carolina Ave Unit A Richmond, VA	3.0	1.0	1300	$1,400	$1.08	43d	1	1.10mi
3425 Carolina Ave Unit B Richmond, VA	3.0	1.0	1300	$1,400	$1.08	23d	1	1.10mi
2416 Barton Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,150	$1.15	43d	1	1.11mi
3202 1st Ave Richmond, VA	3.0	2.5	1440	$2,062	$1.43	21d	1	1.15mi
2400 Barton Ave Richmond, VA	2.0	1.0	813	$1,245	$1.53	4d	2	1.16mi
3621 Enslow Ave Richmond, VA	2.0	1.5	1232	$2,850	$2.31	23d	1	1.24mi
2810 2nd Ave Richmond, VA	2.0	1.0	1120	$1,950	$1.74	43d	1	1.26mi
3103 Dill Ave Richmond, VA	3.0	1.5	1380	$2,050	$1.49	23d	1	1.38mi
2919 4th Ave #2 Richmond, VA	2.0	2.0	950	$1,287	$1.35	43d	1	1.39mi
4812 Chamberlayne Ave Unit 2 Richmond, VA	2.0	1.0	720	$1,325	$1.84	17d	1	1.42mi
1910 North Ave Richmond, VA	3.0	1.0	1010	$1,595	$1.58	10d	1	1.43mi
2000 Lamb Ave Apt C Richmond, VA	2.0	1.0	750	$1,295	$1.73	43d	1	1.45mi
2017 Brook Rd #412 Richmond, VA	1.0–2.0	1.0–2.0	791	$2,160	$2.73	21d	7	1.46mi
3119 4th Ave Richmond, VA	2.0	1.0	820	$1,225	$1.49	17d	1	1.47mi
3317 Waverly Blvd Unit B Richmond, VA	3.0	2.0	1500	$1,875	$1.25	17d	1	1.47mi
1703 Oakdale Ave Apt B Richmond, VA	2.0	2.5	1001	$1,895	$1.89	23d	1	1.47mi

Listing history 3 events

1. 2026-04-07
   status Pending
2. 2026-04-03
   listed $75,000 Active
3. 2001-09-04
   soldstatus $70,000

ⓘ 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: $1,848 · $154/mo
• Projected year-2 tax: $1,848 · $154/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,927
• − Mortgage interest: −$4,201
• − Property taxes: −$1,848
• − Insurance: −$375
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − Depreciation: −$2,182
• Taxable income: $8,973
• Est. tax owed @ 24.0%: −$2,154
• After-tax cash flow: $7,436/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: Richmond City Public School District
• NCES district ID: 5103240
• Math proficiency: 32% ▼ -24.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $40,276
• Composite: 33.09/100
• National rank: #5564
• State rank: #123 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, VA
• County: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 26,322
• Household income: $61,345
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1325.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 262,263 people
• By 2030: 284,503 · +8.5%
• By 2040: 327,353 · +24.8%
• By 2050: 367,946 · +40.3%
• By 2075: 449,560 · +71.4%
• By 2100: 500,301 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 21% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+66.3) · D 82.0% · R 15.8% · Other 2.2%
• 2008→2024 swing: +7.2pp toward D · 2008: 59.1pp · 2024: 66.3pp
• All cycles: 2024: D+66.3 2020: D+68.0 2016: D+63.8 2012: D+55.7 2008: D+59.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -288.72%
• Current HPI: 428.4029
• Rent YoY: ▲ 7.43%
• Metro: Richmond, 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

+7.1% since first listed

3 events — show timeline

• 2026-04-07 Pending — CVRMLS
• 2026-04-03 Listed $75,000 CVRMLS
• 2001-09-04 Sold (Public Records) $70,000 Public Records

Property tax history

+4.0%/yr

Latest (2022): $1,848 · +42.6% YoY. Source: county tax records.