145 Locust Dr · Bracey, VA 23919

$89,000

2 bd · 2.0 ba · 924 sqft · SingleFamily · 4 Days on market

Built 1989 0.54 ac lot $96/sqft · 45% below area Est $162k · 45% under $12/mo HOA · 1% of rent

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.7/10.0
• Schools +5.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fully Furnished well maintained home. Has 2 bedrooms, 2 baths, spacious living room and kitchen. New waterproof laminate kitchen flooring has just been installed. There is a large front and back deck along with a double detached carport. Well built wired storage shed with additional storage in back. The outside firepit is nice for family gatherings. Very flat lot which has been nicely landscaped. Subdivision offers sandy beach area, play area, covered shelter, grills and boat ramp for residents. There is a swimming pool, tennis courts and golf course which would be of an additional fee. Conveniently located to shopping, restaurants and medical. Home Owners Association dues are 125.00 yearly with a special assessment of 370.00 2019.

Key facts

• 0.54 acre lot
• Built 1989
• Listed 4 days

Property features AI

Finance

• Other: Located on Lake Gaston (NW quadrant); Paved road access; Zoned residential; Lot approximately 0.54 acres
• HOA & community: Monthly association fee (approximately $12.50); Community clubhouse; DSL/Cable available

Exterior

• Parking: Detached carport; Gravel parking; No garage
• Security: Smoke detectors
• Utilities: Private well water; Septic tank
• Home design: Single-wide mobile home; Residential use (vacation permitted); Above-grade finished living area
• Construction: Pillar/post/pier foundation; Other foundation type
• Exterior features: Garden; Front porch; Deck; Storage building/structure; Has view

Interior

• Kitchen: Electric oven; Electric range; Refrigerator; Microwave
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Heat pump
• Interior features: Entrance foyer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Cap rate 16.3% vs local median 2.5% in Bracey — 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 61/100 on livability (#421 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A; Watch: amenities F, commute F, health & safety D-.
• 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.
• Zoned schools: Mecklenburg County Middle (874 students, 88% FRL); Mecklenburg County High (1,163 students, 88% FRL) — zoned schools average 88% FRL vs 54% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 110 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($615 loan paydown + $1k appreciation (1.4% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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 $75k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $89,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.95% ✓
• Cap rate: 16.31%
• Cash-on-cash: 35.77%
• DSCR: 2.59
• GRM: 4.3

CMA / ARV

• ARV (median comp): $162,106
• List price: $89,000
• Delta: -45.10%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 Locust Dr	0.00mi	2/2.0	924 (0%)	1mo	$75,000	$81	100
50 Laurel Ct	0.35mi	2/2.0	840 (-9%)	7mo	$118,500	$141	63
408 Longwood Dr	0.58mi	2/2.0	1,040 (+13%)	1mo	$150,000	$144	51
337 Longwood Dr	0.66mi	3/2.0 (+1)	1,056 (+14%)	0mo	$191,000	$181	40

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

Projected returns pro-forma

1.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.9%
• Equity multiple: 3.04×
• Total profit: $50,852
• Equity at exit: $32,347

10-year hold

• IRR: 40.5%
• Equity multiple: 5.99×
• Total profit: $124,360
• Equity at exit: $44,547

Cash invested: $24,920 (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 23919

• Home prices YoY: 0.7%
• Active inventory: 110
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,734 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$12
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $743

Break-even live

Break-even rent $794

Max offer price $89,000

Occupancy floor 52%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $12 · $144/yr
• Likely covers: waterpool
• ⚠ Special-assessment mentions:

  …fee. Conveniently located to shopping, restaurants and medical. Home Owners Association dues are 125.00 yearly with a special assessment of 370.00 2019.

Listing history 14 events

1. 2026-05-10
   status Pending 585-char remark
2. 2026-05-07
   listed $89,000 Active 585-char remark
3. 2019-05-31
   soldstatus $58,500 741-char remark

   Show marketing remark (741 chars)

   Fully Furnished well maintained home. Has 2 bedrooms, 2 baths, spacious living room and kitchen. New waterproof laminate kitchen flooring has just been installed. There is a large front and back deck along with a double detached carport. Well built wired storage shed with additional storage in back. The outside firepit is nice for family gatherings. Very flat lot which has been nicely landscaped. Subdivision offers sandy beach area, play area, covered shelter, grills and boat ramp for residents. There is a swimming pool, tennis courts and golf course which would be of an additional fee. Conveniently located to shopping, restaurants and medical. Home Owners Association dues are 125.00 yearly with a special assessment of 370.00 2019.

4. 2019-05-31
   soldstatus $49,456

   Show marketing remark (741 chars)

   Fully Furnished well maintained home. Has 2 bedrooms, 2 baths, spacious living room and kitchen. New waterproof laminate kitchen flooring has just been installed. There is a large front and back deck along with a double detached carport. Well built wired storage shed with additional storage in back. The outside firepit is nice for family gatherings. Very flat lot which has been nicely landscaped. Subdivision offers sandy beach area, play area, covered shelter, grills and boat ramp for residents. There is a swimming pool, tennis courts and golf course which would be of an additional fee. Conveniently located to shopping, restaurants and medical. Home Owners Association dues are 125.00 yearly with a special assessment of 370.00 2019.

5. 2019-04-19
   listed $58,500 741-char remark

   Show marketing remark (741 chars)

   Fully Furnished well maintained home. Has 2 bedrooms, 2 baths, spacious living room and kitchen. New waterproof laminate kitchen flooring has just been installed. There is a large front and back deck along with a double detached carport. Well built wired storage shed with additional storage in back. The outside firepit is nice for family gatherings. Very flat lot which has been nicely landscaped. Subdivision offers sandy beach area, play area, covered shelter, grills and boat ramp for residents. There is a swimming pool, tennis courts and golf course which would be of an additional fee. Conveniently located to shopping, restaurants and medical. Home Owners Association dues are 125.00 yearly with a special assessment of 370.00 2019.

6. 2016-08-29
   soldstatus $55,100

   Show marketing remark (333 chars)

   Price reduced to sell! Very nice singlewide home fairly close to Tanglewood Shores beach and boatramp area. Nice level lot with a carport for your lake toys and a storage building. Many upgrades have been done, f fully furnished , 2 bedrooms, 2 bathrooms and a large livingroom with 2 pull out couches . .. make sure to see this one.

7. 2016-08-29
   soldstatus $55,100

   Show marketing remark (333 chars)

   Price reduced to sell! Very nice singlewide home fairly close to Tanglewood Shores beach and boatramp area. Nice level lot with a carport for your lake toys and a storage building. Many upgrades have been done, f fully furnished , 2 bedrooms, 2 bathrooms and a large livingroom with 2 pull out couches . .. make sure to see this one.

8. 2015-09-23
   listed $55,000

   Show marketing remark (333 chars)

   Price reduced to sell! Very nice singlewide home fairly close to Tanglewood Shores beach and boatramp area. Nice level lot with a carport for your lake toys and a storage building. Many upgrades have been done, f fully furnished , 2 bedrooms, 2 bathrooms and a large livingroom with 2 pull out couches . .. make sure to see this one.

9. 2007-09-10
   soldstatus $57,000
10. 2007-09-07
    soldstatus $56,956
11. 2007-09-07
    soldstatus $56,956
12. 2007-05-29
    listed $69,900
13. 2007-05-29
    listed $69,900
14. 2007-01-22
    soldstatus $57,500

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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: $20,808
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − HOA: −$144
• − Depreciation: −$2,589
• Taxable income: $7,980
• Est. tax owed @ 24.0%: −$1,915
• After-tax cash flow: $6,998/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 — Bracey

• Score: 61/100
• State rank: #421
• US rank: #18014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,096
• Population (ZIP): 2,096

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: Predominantly White (86%)
• Race & ethnicity: White 86% Black 10% Two or more races 3%
• Common ancestry: Russian 5% Slovak 3% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 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: ▲ 1.42%
• Current HPI: 204.6074
• 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

+30.4% since first listed

15 events — show timeline

• 2026-06-03 Sold (MLS) $75,000 RVLG
• 2026-05-10 Pending — RVLG
• 2026-05-07 Listed $89,000 RVLG
• 2019-05-31 Sold (Public Records) $49,456 Public Records
• 2019-05-31 Sold (MLS) $58,500 RVLG
• 2019-04-19 Listed $58,500 RVLG
• 2016-08-29 Sold (Public Records) $55,100 Public Records
• 2016-08-29 Sold (MLS) $55,100 RVLG
• 2015-09-23 Listed $55,000 RVLG
• 2007-09-10 Sold (Public Records) $57,000 Public Records
• 2007-09-07 Sold (MLS) $56,956 CVRMLS
• 2007-09-07 Sold (MLS) $56,956 CVRMLS
• 2007-05-29 Listed $69,900 CVRMLS
• 2007-05-29 Listed $69,900 CVRMLS
• 2007-01-22 Sold (Public Records) $57,500 Public Records

Property tax history

-2.3%/yr

Latest (2025): $69 · +0.0% YoY. Source: county tax records.