215 Chalmers St · South Boston, VA 24592

$149,999

2 bd · 2.0 ba · 825 sqft · SingleFamily public records · 10 Days on market

Built 1945 7,405 sqft lot $182/sqft · 130% above area

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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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute newly renovated 3 bedroom, 2 bathroom home, centrally located right in the town limits of South Boston. This home has been completely renovated. A new master bedroom with a master bathroom was added on in November 2019. The followings items were replaced in November 2019; new metal roof, new Heat/Central AC & ductwork, new electric/wiring & breaker box, new vinyl siding, new windows, new kitchen cabinets, new hot water heater, new appliances (refrigerator, microwave, stove, washer & dryer), and the shed was painted and a new roof installed. The following items were completed in 2021; new carpet, new front storm door & interior door, and the interior just had a fresh coat of paint. The actual age of the home is unknown. The seller is offering a one year Cinch Home Warranty with an acceptable offer.

Key facts

• New metal roof
• New kitchen cabinets
• New vinyl siding

Tags

• NEW METAL ROOF
• NEW HEAT PUMP CENTRAL AC
• NEW ELECTRICAL WIRING
• NEW VINYL SIDING
• NEW WINDOWS
• NEW KITCHEN CABINETS

Property features AI

Exterior

• Parking: No garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available and connected
• Home design: Single-family residence (residential property); One-story above grade finished area
• Construction: Vinyl siding; Metal roof; Crawl space foundation; Built area above grade approximately 1,149
• Exterior features: Enclosed porch; Porch; Storage structure on property; Has a view

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Heat pump cooling; Ceiling fans for supplemental cooling
• Interior features: Ceiling fans; High-speed internet; No fireplace
• Laundry & utility: Laundry room with washer and dryer hookups (electric dryer hookup)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (7.3% below list).
• Recommended offer: $139k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 5.0% in South Boston — 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 74/100 on livability (#147 in VA, #4,742 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Halifax County Public School District (town): math 29% / reading 59% proficiency, ranked #116 of 131 in VA (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Boston Elementary (math 18% / reading 48%, grade F, #986 of 1,108 statewide, top 89%, 666 students, 93% FRL); Halifax County Middle (math 27% / reading 60%, grade D, #285 of 342 statewide, top 84%, 925 students, 92% FRL); Halifax County High (math 40% / reading 69%, grade C-, #281 of 319 statewide, top 90%, 1,397 students, 90% FRL) — zoned schools average 92% FRL vs 58% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 67 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 97 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Halifax County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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 $79k; list at $150k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• 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 $139,048 (7.3% below list)

Questions for the listing agent

1. Built in 1945 — 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 B-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 F 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: 0.93% ✗
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 9.0

CMA / ARV

• ARV (median comp): $90,703
• List price: $149,999
• Delta: 76.29%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 Easley St	0.11mi	2/2.0	868 (+5%)	11mo	$137,000	$158	77
331 Wickham St	0.44mi	2/1.0	825 (0%)	11mo	$36,000	$44	67
219 Chalmers St	0.01mi	1/1.0 (-1)	720 (-13%)	16mo	$90,000	$125	56
314 Webster St	0.25mi	3/1.0 (+1)	905 (+10%)	22mo	$116,000	$128	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-10,541
• Equity at exit: $22,365

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $8,340
• Equity at exit: $12,969

Cash invested: $42,000 (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 24592

• Home prices YoY: -27.0%
• Active inventory: 67
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,390 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$32 /mo · $385/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $217

Break-even live

Break-even rent $1,115

Max offer price $149,999

Occupancy floor 79%

Sensitivity live

Price	-10% $302	-5% $260	+0% $217	+5% $175	+10% $132
Rent	-10% $107	-5% $162	+0% $217	+5% $272	+10% $327
Rate	-1.0pp $293	-0.5pp $255	base $217	+0.5pp $178	+1.0pp $139

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
331 Wickham St South Boston, VA	2.0	1.0	825	$1,400	$1.70	45d	1	0.43mi
701 Jefferson Ave Apt 113 South Boston, VA	2.0	2.0	1119	$1,375	$1.23	45d	1	0.51mi

Listing history 18 events

1. 2026-06-21
   days on market $149,999 Active 10 DOM
2. 2026-06-21
   days on market $149,999 Active 9 DOM
3. 2026-06-18
   days on market $149,999 Active 7 DOM
4. 2026-06-17
   days on market $149,999 Active 6 DOM
5. 2026-06-16
   days on market $149,999 Active 5 DOM
6. 2026-06-15
   days on market $149,999 Active 4 DOM
7. 2026-06-15
   days on market $149,999 Active 3 DOM
8. 2026-06-13
   days on market $149,999 Active 2 DOM
9. 2026-06-12
   remarks 699-char remark
10. 2026-06-12
    pricestatusdays on marketlisting id $149,999 Active 1 DOM
11. 2026-04-20
    listed $159,900 Active
12. 2025-12-02
    historical $1,500
13. 2025-11-29
    listed $1,500
14. 2021-03-22
    soldstatus $78,600
15. 2021-03-18
    soldstatus $78,600 837-char remark

    Show marketing remark (837 chars)

    Cute newly renovated 3 bedroom, 2 bathroom home, centrally located right in the town limits of South Boston. This home has been completely renovated. A new master bedroom with a master bathroom was added on in November 2019. The followings items were replaced in November 2019; new metal roof, new Heat/Central AC & ductwork, new electric/wiring & breaker box, new vinyl siding, new windows, new kitchen cabinets, new hot water heater, new appliances (refrigerator, microwave, stove, washer & dryer), and the shed was painted and a new roof installed. The following items were completed in 2021; new carpet, new front storm door & interior door, and the interior just had a fresh coat of paint. The actual age of the home is unknown. The seller is offering a one year Cinch Home Warranty with an acceptable offer.

16. 2021-02-04
    listed $74,900 837-char remark

    Show marketing remark (837 chars)

    Cute newly renovated 3 bedroom, 2 bathroom home, centrally located right in the town limits of South Boston. This home has been completely renovated. A new master bedroom with a master bathroom was added on in November 2019. The followings items were replaced in November 2019; new metal roof, new Heat/Central AC & ductwork, new electric/wiring & breaker box, new vinyl siding, new windows, new kitchen cabinets, new hot water heater, new appliances (refrigerator, microwave, stove, washer & dryer), and the shed was painted and a new roof installed. The following items were completed in 2021; new carpet, new front storm door & interior door, and the interior just had a fresh coat of paint. The actual age of the home is unknown. The seller is offering a one year Cinch Home Warranty with an acceptable offer.

17. 2019-08-26
    soldstatus $25,000
18. 2019-03-13
    soldstatus $10,500

ⓘ 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: $385 · $32/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$845/yr (+$70/mo · 219.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,686
• − Mortgage interest: −$8,402
• − Property taxes: −$385
• − Insurance: −$750
• − Repairs & maintenance: −$1,335
• − Management: −$1,335
• − Depreciation: −$4,364
• Taxable income: $115
• Est. tax owed @ 24.0%: −$28
• After-tax cash flow: $2,580/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: Halifax County Public School District
• NCES district ID: 5101770
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 59% ▼ -15.00%
• Median HH income: $36,137
• Composite: 36.36/100
• National rank: #4687
• State rank: #116 of 131 in VA

Livability — South Boston

• Score: 74/100
• State rank: #147
• US rank: #4742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Boston, VA
• Population (ZIP): 14,411

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 32,892 people
• By 2030: 31,438 · -4.4%
• By 2040: 28,350 · -13.8%
• By 2050: 25,553 · -22.3%
• By 2075: 20,217 · -38.5%
• By 2100: 14,645 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 40% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Halifax

• 2024 margin: Strong R (+21.1) · D 39.1% · R 60.2%
• 2008→2024 swing: -18.2pp toward R · 2008: -2.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+15.1 2016: R+16.6 2012: R+5.6 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.37%
• Current HPI: 190.3767
• 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

+1328.6% since first listed

9 events — show timeline

• 2026-06-11 Listed $149,999 SPLLAR
• 2026-04-20 Listed $159,900 LMLS
• 2025-12-02 Rental Removed $1,500 Avail
• 2025-11-29 Listed for Rent $1,500 Avail
• 2021-03-22 Sold (Public Records) $78,600 Public Records
• 2021-03-18 Sold (MLS) $78,600 SPLLAR
• 2021-02-04 Listed $74,900 SPLLAR
• 2019-08-26 Sold (Public Records) $25,000 Public Records
• 2019-03-13 Sold (Public Records) $10,500 Public Records

Property tax history

+8.9%/yr

Latest (2025): $385 · +0.0% YoY. Source: county tax records.