1024 Bolton Rd · Richmond, VA 23225

$235,000

3 bd · 1.0 ba · 1,094 sqft · SingleFamily public records · 3 Days on market

Built 1962 0.26 ac lot Est $257k · 9% under

---

Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +11.4/15.0
• Livability +4.2/5.0
• DSCR +4.0/10.0
• Schools +3.3/10.0
• 1% rule +3.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This single-level, easy-to-maintain home is in the quiet and neatly maintained neighborhood of Clinton Court and is in move-in condition. Three bedrooms and one full bathroom, original hardwood floors throughout. Updated bathroom and kitchen with a stove and dishwasher to convey with the property. Large fenced-in backyard provides generous space for outdoor entertainment. On and off-street parking. Home offers endless potential for buyers looking to make it their own or investors/flippers looking for a project. Convenient to Midlothian TPK, Chippenham PKY North or South and Hull Street. Shopping, dining, and entertainment in each direction.

Key facts

• Updated kitchen
• Updated bathroom
• 0.26 acre lot

Tags

• ORIGINAL HARDWOOD FLOORS
• UPDATED BATHROOM
• UPDATED KITCHEN
• LARGE FENCED-IN BACKYARD
• OUTDOOR ENTERTAINMENT
• ON AND OFF-STREET PARKING

Property features AI

Exterior

• Parking: Two-car garage; Carport; Off-street parking and on-street parking available
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story home; Resale property; R-3 zoning
• Construction: Brick, block, frame, drywall, and vinyl siding construction; Composition/shingle roof; Built as actual year (year built details available)
• Exterior features: Stoop; Back yard with chain-link fence

Interior

• Kitchen: Dishwasher; Electric stove / smooth cooktop; Refrigerator
• Bedrooms: Three bedrooms on the first floor; bedrooms have original hardwood floors and replacement windows
• Flooring: Original hardwood floors; Vinyl flooring
• Bathrooms: One full bathroom with tub and shower on the first floor
• Heating & cooling: Heat pump (provides cooling and heating); Electric heating options including baseboard and forced air
• Interior features: Thermal windows; Storm door(s); Smoke detector(s)
• Laundry & utility: Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-4 ($-52/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (20.1% below list).
• Recommended offer: $188k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 flat; 167 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 36% of the median local income ($63k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $63k; list at $235k implies a 273% gain — meaningful room to come down on a strong offer.

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 $187,846 (20.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.80% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.08%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $257,090
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
906 Andros Rd	0.27mi	3/1.5	1,098 (+0%)	8mo	$239,700	$218	78
1001 Whitehead Rd	0.12mi	3/2.0	1,140 (+4%)	8mo	$175,000	$154	77
621 Tilton Ct	0.39mi	3/1.0	1,049 (-4%)	7mo	$253,800	$242	69
6521 Worthington Rd	0.54mi	3/1.5	1,098 (+0%)	8mo	$265,000	$241	66
5717 Warwick Rd	0.41mi	3/2.0	1,154 (+6%)	4mo	$330,000	$286	65
6607 Holliday Rd	0.66mi	3/1.0	1,098 (+0%)	9mo	$264,500	$241	61
943 Barlen Dr	0.39mi	3/1.0	984 (-10%)	5mo	$229,000	$233	61
1627 Silverwood Dr	0.56mi	2/1.0 (-1)	1,007 (-8%)	2mo	$176,000	$175	54
1709 Whitehead Rd	0.67mi	2/1.0 (-1)	1,064 (-3%)	6mo	$249,950	$235	54
6411 Daytona Dr	0.58mi	3/2.0	1,160 (+6%)	9mo	$310,000	$267	51
912 Rosemont Rd	0.70mi	3/1.5	994 (-9%)	9mo	$202,000	$203	43
705 Yorkshire Dr	0.74mi	3/2.0	1,200 (+10%)	7mo	$215,000	$179	39

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.35×
• Total profit: $-42,785
• Equity at exit: $35,039

10-year hold

• IRR: -16.7%
• Equity multiple: 0.16×
• Total profit: $-54,956
• Equity at exit: $20,319

Cash invested: $65,800 (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 23225

• Rents YoY: 0.6%
• Active inventory: 167
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,878 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$158 /mo · $1,896/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $-4

Break-even live

Break-even rent $1,884

Max offer price $234,241

Occupancy floor 95%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1018 Barlen Dr Richmond, VA	3.0	1.0	935	$1,700	$1.82	44d	1	0.29mi
6540 Greenbank Rd Richmond, VA	1.0–3.0	1.0–1.5	887	$1,790	$2.02	1d	59	0.61mi
1244 Canterbury Ridge Rd Unit 1 Richmond, VA	3.0	2.5	1250	$2,000	$1.60	4d	1	0.64mi
1501 Ivymount Rd Richmond, VA	3.0	1.5	1084	$1,750	$1.61	44d	1	0.74mi
6925 Starview Ct Richmond, VA	1.0–2.0	1.5	953	$1,642	$1.72	2d	4	0.86mi
2336 Sara Ln Richmond, VA	3.0	1.0	1120	$1,695	$1.51	44d	1	0.87mi
1840 Powell Rd Richmond, VA	2.0	1.0	1228	$1,695	$1.38	16d	1	1.06mi
311 Karl Linn Dr North Chesterfield, VA	1.0–3.0	1.0–3.0	1271	$3,416	$2.69	1d	21	1.14mi
5616 Kendall Rd Richmond, VA	3.0	1.0	1054	$1,575	$1.49	21d	1	1.20mi
1200 Southwood Pkwy Richmond, VA	1.0–2.0	1.0–2.0	916	$1,605	$1.75	44d	11	1.28mi
6839 Carnation St Richmond, VA	1.0–3.0	1.0–2.0	938	$1,915	$2.04	1d	21	1.30mi
435 German School Rd Richmond, VA	1.0–3.0	1.0–2.0	956	$1,744	$1.82	1d	18	1.31mi
161 Hioaks Rd Richmond, VA	1.0–3.0	1.0–2.0	983	$1,601	$1.63	4d	7	1.35mi
101 Springline Dr North Chesterfield, VA	1.0–3.0	1.0–2.0	981	$2,825	$2.88	1d	49	1.44mi
152 Brandon Rd Richmond, VA	3.0	1.0	1237	$2,109	$1.70	23d	1	1.50mi

Listing history 4 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   listed $235,000 Active
3. 2002-10-01
   soldstatus $63,000
4. 1965-09-17
   soldstatus $12,000

ⓘ 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: $1,896 · $158/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: +$31/yr (+$3/mo · 1.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 16 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,542
• − Mortgage interest: −$13,164
• − Property taxes: −$1,896
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,803
• − Management: −$1,803
• − Depreciation: −$6,836
• Taxable loss: −$4,136
• Est. tax savings @ 24.0%: +$993
• After-tax cash flow: $941/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): 42,771
• Household income: $62,949
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2516.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 42% White 38% Hispanic / Latino 14% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 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: ▼ -392.89%
• Current HPI: 339.408
• Rent YoY: ▲ 0.63%
• 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

+1858.3% since first listed

4 events — show timeline

• 2026-05-21 Pending — CVRMLS
• 2026-05-18 Listed $235,000 CVRMLS
• 2002-10-01 Sold (Public Records) $63,000 Public Records
• 1965-09-17 Sold (Public Records) $12,000 Public Records

Property tax history

+5.3%/yr

Latest (2022): $1,896 · +50.5% YoY. Source: county tax records.