7382 Bullbeggar Rd · Makemie Park, VA 23488

$115,000

3 bd · 1.5 ba · 1,790 sqft · SingleFamily · 299 Days on market

Built 1905 Poor condition 0.75 ac lot

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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).

• Cash flow +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Appreciation +5.0/10.0
• Schools +4.3/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Privacy! Big old farm house with farm fields on three sides and no houses immediately around it on either side. Big 3/4 acre lot provides room for pets, having a big garden, friends or family gatherings, or working on those hobbies that you just can't do in town. A true diamond in the rough. Make this your own personal castle!

Key facts

• Big lot
• Big garden
• Room for pets

Tags

• BIG LOT
• ROOM FOR PETS
• BIG GARDEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $115k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#534 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A-, housing B; Watch: schools D, amenities F, commute F.
• Accomack County Public School District (rural): math 44% / reading 59% proficiency, ranked #99 of 131 in VA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 5 active listings in the ZIP; 181 units permitted in Accomack County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (3.0% local appreciation)).
• Accomack County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 299 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 299 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.12% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 15.3%
• Equity multiple: 1.87×
• Total profit: $28,046
• Equity at exit: $51,709

10-year hold

• IRR: 17.0%
• Equity multiple: 3.49×
• Total profit: $80,022
• Equity at exit: $79,690

Cash invested: $32,200 (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 23488

• Active inventory: 5
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $223

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 78%

Sensitivity live

Price	-10% $302	-5% $262	+0% $223	+5% $183	+10% $143
Rent	-10% $121	-5% $172	+0% $223	+5% $273	+10% $324
Rate	-1.0pp $280	-0.5pp $252	base $223	+0.5pp $193	+1.0pp $162

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $115,000 Active 299 DOM
2. 2026-06-17
   days on market $115,000 Active 298 DOM
3. 2026-06-16
   days on market $115,000 Active 297 DOM
4. 2026-06-15
   days on market $115,000 Active 296 DOM
5. 2026-06-15
   days on market $115,000 Active 295 DOM
6. 2026-06-13
   days on market $115,000 Active 294 DOM
7. 2026-06-12
   days on market $115,000 Active 293 DOM
8. 2026-06-09
   days on market $115,000 Active 290 DOM
9. 2026-06-08
   days on market $115,000 Active 289 DOM
10. 2026-06-08
    days on market $115,000 Active 288 DOM
11. 2026-06-07
    days on market $115,000 Active 287 DOM
12. 2026-06-03
    days on market $115,000 Active 284 DOM
13. 2026-06-02
    days on market $115,000 Active 283 DOM
14. 2026-06-01
    days on market $115,000 Active 282 DOM
15. 2026-05-31
    days on market $115,000 Active 281 DOM
16. 2025-08-23
    listed $199,000 Active 329-char remark

    Show marketing remark (329 chars)

    Privacy! Big old farm house with farm fields on three sides and no houses immediately around it on either side. Big 3/4 acre lot provides room for pets, having a big garden, friends or family gatherings, or working on those hobbies that you just can't do in town. A true diamond in the rough. Make this your own personal castle!

ⓘ 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 5/10 Major FEMA zone X (shaded) · 49% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,452
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$3,345
• Taxable income: $893
• Est. tax owed @ 24.0%: −$214
• After-tax cash flow: $2,456/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to become move-in ready. Significant investment is needed to address the deteriorating exterior, interior, and structural issues.

Repairs flagged

• Major Paint — Peeling paint indicates significant damage
• Major Siding — Damaged siding requires replacement
• Major Windows — Broken windows need repair or replacement
• Major Flooring — Worn-out hardwood flooring needs replacement
• Major Roof — Missing shingles and exposed rafters indicate severe damage

Value-add opportunities

• Both Paint and exterior repairs — Enhances curb appeal and interior appearance
• Both New flooring — Improves living space and adds value
• Both New windows and roof — Ensures safety and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Peeling paint indicates significant damage	Major	$15,000–50,000
Siding · Damaged siding requires replacement	Major	$15,000–50,000
Windows · Broken windows need repair or replacement	Major	$15,000–50,000
Flooring · Worn-out hardwood flooring needs replacement	Major	$15,000–50,000
Roof · Missing shingles and exposed rafters indicate severe damage	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint and exterior repairs — Enhances curb appeal and interior appearance ↑
• Both New flooring — Improves living space and adds value ↑
• Both New windows and roof — Ensures safety and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Accomack County Public School District
• NCES district ID: 5100060
• Math proficiency: 44% ▼ -36.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $40,348
• Composite: 43.05/100
• National rank: #3096
• State rank: #99 of 131 in VA

Livability — Makemie Park

• Score: 53/100
• State rank: #534
• US rank: #24594

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 42

Population outlook (Accomack County) Hauer SSP2

• Today (2025): 32,072 people
• By 2030: 31,425 · -2.0%
• By 2040: 29,685 · -7.4%
• By 2050: 27,748 · -13.5%
• By 2075: 23,396 · -27.1%
• By 2100: 18,774 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (100%)
• Race & ethnicity: Black 100%

Political lean MEDSL · Accomack

• 2024 margin: R (+13.3) · D 43.0% · R 56.3%
• 2008→2024 swing: -11.9pp toward R · 2008: -1.4pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+9.4 2016: R+11.7 2012: R+3.5 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2025-08-23 Listed $199,000 ESAR