2513 Bainbridge St · Richmond, VA 23225

$239,900

3 bd · 1.5 ba · 1,512 sqft · SingleFamily public records · 10 Days on market

Built 1919 5,292 sqft lot Est $348k · 31% under

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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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

5 Studio apartments. Each studio has own kitchenette and full bathroom. 3 storage units on the lot. Fully occupied bringing $2,500.00 monthly. CMA indicates potential rental income of $3,000.00+ monthly. Rent currently includes: -All utilities -Cable TV -Off street parking -In building laundry and dryer as an amenity

Key facts

• Vinyl siding
• Kitchenettes
• 5,292 sq ft lot

Tags

• HOLLANDS ADDITION NEIGHBORHOOD
• CONVERSION TO STUDIO RENTAL
• KITCHENETTES
• ZONED HEATING AND COOLING
• WASHER AND DRYER AREA
• VINYL SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/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 $206k (14.2% below list).
• Recommended offer: $206k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.2% 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.
• Zoned schools: Westover Hills Elementary (math 5% / reading 22%, grade F, #1,106 of 1,108 statewide, top 100%, 370 students, 99% FRL); River City Middle (math 14% / reading 31%, grade F, #337 of 342 statewide, top 99%, 1,180 students, 98% FRL); Armstrong High (math 12% / reading 54%, grade F, #316 of 319 statewide, top 99%, 747 students, 90% FRL) — zoned schools average 96% FRL vs 74% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-16 pts) — the specific schools serving this property underperform the Richmond City Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 167 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).

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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 21y 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 $195k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• 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 $205,758 (14.2% below list)

Questions for the listing agent

1. Built in 1919 — 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: 0.86% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $347,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 W 26th St	0.17mi	3/1.5	1,571 (+4%)	2mo	$435,000	$277	84
2500 Hargrove St	0.10mi	3/2.5	1,728 (+14%)	0mo	$397,500	$230	68
1602 Decatur St	0.57mi	2/2.0 (-1)	1,491 (-1%)	2mo	$324,500	$218	63
1800 Maury St	0.63mi	3/2.5	1,487 (-2%)	1mo	$285,000	$192	62
100 W 29th St	0.27mi	3/2.0	1,296 (-14%)	2mo	$330,000	$255	60
2019 Dinwiddie Ave	0.75mi	3/2.5	1,490 (-2%)	1mo	$340,000	$228	58
113 W 33rd St	0.67mi	3/2.5	1,650 (+9%)	1mo	$552,500	$335	49
2118 Chicago Ave	0.70mi	3/2.5	1,678 (+11%)	2mo	$305,000	$182	44
116 W 33rd St	0.70mi	4/1.0 (+1)	1,353 (-10%)	2mo	$360,000	$266	41
405 W 34th St	0.64mi	4/1.5 (+1)	1,730 (+14%)	1mo	$474,000	$274	40
1806 Maury St	0.63mi	4/2.5 (+1)	1,720 (+14%)	1mo	$300,000	$174	38
1804 Maury St	0.64mi	4/2.5 (+1)	1,720 (+14%)	1mo	$300,000	$174	38

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: -16.4%
• Equity multiple: 0.43×
• Total profit: $-38,265
• Equity at exit: $35,770

10-year hold

• IRR: -12.7%
• Equity multiple: 0.33×
• Total profit: $-45,236
• Equity at exit: $20,742

Cash invested: $67,172 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,058 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$182 /mo · $2,184/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $85

Break-even live

Break-even rent $1,949

Max offer price $239,900

Occupancy floor 91%

Sensitivity live

Price	-10% $221	-5% $153	+0% $85	+5% $18	+10% $-50
Rent	-10% $-77	-5% $4	+0% $85	+5% $167	+10% $248
Rate	-1.0pp $206	-0.5pp $146	base $85	+0.5pp $23	+1.0pp $-40

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2522 Porter St Richmond, VA	3.0	2.5	1390	$1,800	$1.29	45d	1	0.06mi
2708 Semmes Ave Unit A Richmond, VA	2.0	1.0	1050	$1,275	$1.21	45d	1	0.31mi
2117 Old Manchester St Richmond, VA	3.0	4.0	1960	$2,695	$1.38	12d	1	0.33mi
1912 Porter St Richmond, VA	3.0	1.5	1415	$1,950	$1.38	25d	1	0.36mi
2104 Boro Ridge St Richmond, VA	3.0	2.5	1916	$2,775	$1.45	45d	1	0.38mi
201 Cowardin Ave Unit B Richmond, VA	2.0	2.5	1436	$2,200	$1.53	45d	1	0.51mi
1529 Porter St Unit A Richmond, VA	3.0	2.5	1711	$2,400	$1.40	25d	1	0.51mi
1719 Everett St Richmond, VA	3.0	2.5	1748	$2,255	$1.29	45d	1	0.57mi
107 E 16th St Richmond, VA	4.0	2.5	1608	$2,350	$1.46	12d	1	0.58mi
3 E Blake Ln Richmond, VA	3.0	1.5	2065	$2,000	$0.97	5d	1	0.59mi
1709 Everett St Richmond, VA	4.0	1.5	1460	$1,995	$1.37	45d	1	0.59mi
1429 McDonough St Richmond, VA	1.0–3.0	1.0–2.0	826	$2,469	$2.99	4d	15	0.60mi
1422 Bainbridge St Richmond, VA	2.0	2.0	1121	$2,399	$2.14	4d	1	0.60mi
1411 Porter St Unit B Richmond, VA	3.0	3.0	1500	$2,145	$1.43	6d	1	0.62mi
116 E 15th St Richmond, VA	4.0	2.0	1452	$2,250	$1.55	25d	1	0.66mi
1211 Porter St Richmond, VA	3.0	3.0	1571	$2,495	$1.59	21d	1	0.74mi
1212 Porter St Unit B Richmond, VA	3.0	2.5	1837	$2,300	$1.25	45d	1	0.74mi
3300 Midlothian Tpke Richmond, VA	2.0	1.0	1116	$1,800	$1.61	6d	1	0.74mi
3154 Stockton St Richmond, VA	3.0	1.0	1169	$1,600	$1.37	45d	1	0.78mi
3314 Decatur St Richmond, VA	2.0	1.5	1640	$1,800	$1.10	45d	1	0.88mi
1100 Richmond Hwy Richmond, VA	1.0–3.0	1.0–2.0	1062	$2,345	$2.21	3d	16	0.89mi
901 McDonough St Richmond, VA	1.0–2.0	1.0–2.0	886	$2,037	$2.30	5d	14	0.93mi
815 Perry St Richmond, VA	1.0–3.0	1.0–2.0	1004	$1,800	$1.79	3d	10	0.95mi
800 Semmes Ave Richmond, VA	1.0–2.0	1.0–2.0	760	$2,575	$3.39	5d	23	0.96mi
15 W 7th St Richmond, VA	1.0–3.0	1.0–2.5	881	$3,031	$3.44	4d	6	1.07mi
700 Stockton St Richmond, VA	1.0–2.0	1.0	1035	$1,805	$1.74	3d	31	1.08mi
84 W 6th St Richmond, VA	3.0	2.0	1493	$2,715	$1.82	5d	1	1.10mi
1112 E 16th St Richmond, VA	4.0	1.0	1206	$1,595	$1.32	45d	1	1.11mi
700 Everett St Richmond, VA	1.0–2.0	1.0–2.0	809	$1,849	$2.28	6d	14	1.13mi
100 Mardick Rd Richmond, VA	4.0	2.0	1254	$2,250	$1.79	25d	1	1.16mi
403 Stockton St Richmond, VA	1.0–3.0	1.0–2.0	882	$2,140	$2.42	5d	22	1.22mi
307 Stockton St Richmond, VA	1.0–2.0	1.0–2.0	853	$1,722	$2.02	3d	27	1.29mi
103 E 2nd St Richmond, VA	2.0	1.0–2.0	820	$2,340	$2.85	4d	18	1.35mi
615 S Laurel St Richmond, VA	4.0	3.0	2110	$3,500	$1.66	25d	1	1.49mi

Listing history 43 events

1. 2026-06-21
   days on market $239,900 Active 10 DOM
2. 2026-06-18
   days on market $239,900 Active 7 DOM
3. 2026-06-17
   days on market $239,900 Active 6 DOM
4. 2026-06-16
   days on market $239,900 Active 5 DOM
5. 2026-06-15
   days on market $239,900 Active 4 DOM
6. 2026-06-13
   pricestatusdays on marketlisting id $239,900 Active 2 DOM
7. 2026-04-28
   status Pending
8. 2026-04-23
   listed $249,900 Active
9. 2022-06-01
   soldstatus $195,000 Closed 322-char remark

   Show marketing remark (322 chars)

   5 Studio apartments. Each studio has own kitchenette and full bathroom. 3 storage units on the lot. Fully occupied bringing $2,500.00 monthly. CMA indicates potential rental income of $3,000.00+ monthly. Rent currently includes: -All utilities -Cable TV -Off street parking -In building laundry and dryer as an amenity

10. 2022-05-02
    status Pending 322-char remark

    Show marketing remark (322 chars)

    5 Studio apartments. Each studio has own kitchenette and full bathroom. 3 storage units on the lot. Fully occupied bringing $2,500.00 monthly. CMA indicates potential rental income of $3,000.00+ monthly. Rent currently includes: -All utilities -Cable TV -Off street parking -In building laundry and dryer as an amenity

11. 2021-12-30
    status Active 322-char remark

    Show marketing remark (322 chars)

    5 Studio apartments. Each studio has own kitchenette and full bathroom. 3 storage units on the lot. Fully occupied bringing $2,500.00 monthly. CMA indicates potential rental income of $3,000.00+ monthly. Rent currently includes: -All utilities -Cable TV -Off street parking -In building laundry and dryer as an amenity

12. 2021-12-06
    status Pending 322-char remark

    Show marketing remark (322 chars)

    5 Studio apartments. Each studio has own kitchenette and full bathroom. 3 storage units on the lot. Fully occupied bringing $2,500.00 monthly. CMA indicates potential rental income of $3,000.00+ monthly. Rent currently includes: -All utilities -Cable TV -Off street parking -In building laundry and dryer as an amenity

13. 2021-12-01
    listed $200,000 Active 322-char remark

    Show marketing remark (322 chars)

    5 Studio apartments. Each studio has own kitchenette and full bathroom. 3 storage units on the lot. Fully occupied bringing $2,500.00 monthly. CMA indicates potential rental income of $3,000.00+ monthly. Rent currently includes: -All utilities -Cable TV -Off street parking -In building laundry and dryer as an amenity

14. 2009-09-22
    historical
15. 2009-09-22
    historical
16. 2009-09-22
    historical
17. 2009-09-22
    historical
18. 2009-09-22
    historical
19. 2008-12-16
    historical
20. 2008-09-15
    listed $134,000
21. 2008-09-15
    listed $134,000
22. 2008-09-02
    historical
23. 2008-06-02
    historical
24. 2008-05-07
    listed $134,000
25. 2008-05-07
    listed $134,000
26. 2007-12-01
    listed $139,950
27. 2007-12-01
    listed $139,950
28. 2006-12-07
    soldstatus $115,000
29. 2006-12-06
    soldstatus $115,000
30. 2006-12-06
    soldstatus $115,000
31. 2006-10-09
    historical
32. 2006-09-07
    listed $115,000
33. 2006-09-07
    listed $115,000
34. 2006-04-29
    historical
35. 2006-04-29
    listed $122,500
36. 2006-04-29
    listed $122,500
37. 2006-01-23
    listed $124,950
38. 2006-01-23
    listed $124,950
39. 2005-09-28
    soldstatus $52,000
40. 2005-09-26
    soldstatus $52,000
41. 2005-09-26
    soldstatus $52,000
42. 2005-09-03
    listed $55,000
43. 2005-09-03
    listed $55,000

ⓘ 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: $2,184 · $182/mo
• Projected year-2 tax: $2,184 · $182/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 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: $24,691
• − Mortgage interest: −$13,438
• − Property taxes: −$2,184
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,975
• − Management: −$1,975
• − Depreciation: −$6,979
• Taxable loss: −$3,060
• Est. tax savings @ 24.0%: +$734
• After-tax cash flow: $1,760/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

+354.4% since first listed

37 events — show timeline

• 2026-04-28 Pending — CVRMLS
• 2026-04-23 Listed $249,900 CVRMLS
• 2022-06-01 Sold (MLS) $195,000 CVRMLS
• 2022-05-02 Pending — CVRMLS
• 2021-12-30 Relisted — CVRMLS
• 2021-12-06 Pending — CVRMLS
• 2021-12-01 Listed $200,000 CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2008-12-16 Listing Removed — CVRMLS
• 2008-09-15 Listed $134,000 CVRMLS
• 2008-09-15 Listed $134,000 CVRMLS
• 2008-09-02 Listing Removed — CVRMLS
• 2008-06-02 Listing Removed — CVRMLS
• 2008-05-07 Listed $134,000 CVRMLS
• 2008-05-07 Listed $134,000 CVRMLS
• 2007-12-01 Listed $139,950 CVRMLS
• 2007-12-01 Listed $139,950 CVRMLS
• 2006-12-07 Sold (Public Records) $115,000 Public Records
• 2006-12-06 Sold (MLS) $115,000 CVRMLS
• 2006-12-06 Sold (MLS) $115,000 CVRMLS
• 2006-10-09 Listing Removed — CVRMLS
• 2006-09-07 Listed $115,000 CVRMLS
• 2006-09-07 Listed $115,000 CVRMLS
• 2006-04-29 Listed $122,500 CVRMLS
• 2006-04-29 Listed $122,500 CVRMLS
• 2006-04-29 Listing Removed — CVRMLS
• 2006-01-23 Listed $124,950 CVRMLS
• 2006-01-23 Listed $124,950 CVRMLS
• 2005-09-28 Sold (Public Records) $52,000 Public Records
• 2005-09-26 Sold (MLS) $52,000 CVRMLS
• 2005-09-26 Sold (MLS) $52,000 CVRMLS
• 2005-09-03 Listed $55,000 CVRMLS
• 2005-09-03 Listed $55,000 CVRMLS

Property tax history

+4.8%/yr

Latest (2022): $2,184 · +33.6% YoY. Source: county tax records.