904 Augusta Ave · Petersburg, VA 23803

$159,500

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 13 Days on market

Built 1960 5,113 sqft lot Est $190k · 16% 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 +16.3/30.0
• ARV discount +14.7/15.0
• Appreciation +5.7/10.0
• DSCR +5.0/10.0
• Rent growth +4.0/5.0
• 1% rule +3.7/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well maintained brick rancher. Great Starter Home. 3 bedrooms, 1 bath, living and dining room, cozy kitchen with new countertop and divider bar, utility room plus carport. A must see. 2-10 Home Buyers Warranty. * * * Hardwood floors to be refinished at closing. * * *

Key facts

• New plumbing
• Upgraded electrical
• New ductwork

Tags

• UPGRADED ELECTRICAL
• UPGRADED HVAC
• UPGRADED WATER HEATER
• NEW PLUMBING
• NEW DUCTWORK
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $87 ($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 $139k (13.0% below list).
• Recommended offer: $139k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.5% in Petersburg — 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 (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 290 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 5.9% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $160k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 46% 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 $138,753 (13.0% below list)

Questions for the listing agent

1. Built in 1960 — 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 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?
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: 0.87% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.35%
• DSCR: 1.10
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $189,810
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
904 Augusta Ave	0.00mi	3/1.0	1,026 (0%)	0mo	$163,000	$159	100
1413 Floyd St	0.18mi	3/1.0	960 (-6%)	2mo	$205,000	$214	79
1314 Beazley St	0.35mi	3/2.0	1,001 (-2%)	0mo	$252,000	$252	75
1530 Stark St	0.33mi	3/1.0	960 (-6%)	4mo	$95,000	$99	70
336 Youngs Rd	0.33mi	3/1.5	1,099 (+7%)	4mo	$223,000	$203	68
1341 Hinton St	0.63mi	3/1.0	1,008 (-2%)	2mo	$192,500	$191	66
1458 Ferndale Ave	0.42mi	3/1.0	936 (-9%)	1mo	$106,000	$113	65
1720 Lamar Ave	0.64mi	2/1.5 (-1)	1,040 (+1%)	1mo	$153,500	$148	60
1124 W Wythe St	0.59mi	3/2.0	960 (-6%)	2mo	$162,500	$169	56
1250 Hilton Pl	0.46mi	2/1.0 (-1)	902 (-12%)	2mo	$95,000	$105	51
520 Pegram St	0.51mi	2/1.0 (-1)	893 (-13%)	1mo	$165,000	$185	49
18 Spring Ct	0.69mi	3/1.5	1,162 (+13%)	2mo	$230,000	$198	42

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

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.36×
• Total profit: $16,197
• Equity at exit: $58,208

10-year hold

• IRR: 12.2%
• Equity multiple: 2.65×
• Total profit: $73,585
• Equity at exit: $80,346

Cash invested: $44,660 (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 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 290
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$836
• Tax from tax record: −$106 /mo · $1,270/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $87

Break-even live

Break-even rent $1,277

Max offer price $159,500

Occupancy floor 89%

Sensitivity live

Price	-10% $178	-5% $133	+0% $87	+5% $42	+10% $-3
Rent	-10% $-22	-5% $33	+0% $87	+5% $142	+10% $197
Rate	-1.0pp $168	-0.5pp $128	base $87	+0.5pp $46	+1.0pp $4

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1121 Stainback St Unit 2108 Petersburg, VA	2.0	1.0	800	$995	$1.24	24d	1	0.37mi
1121 Stainback St Unit 5202 Petersburg, VA	2.0	1.0	800	$995	$1.24	44d	1	0.37mi
1111 Stainback St Apt 2 Petersburg, VA	2.0	1.0	750	$895	$1.19	44d	1	0.41mi
408 S West St Petersburg, VA	2.0	1.0	900	$1,095	$1.22	22d	1	0.43mi
1131 Hawk St Petersburg, VA	3.0	2.0	1100	$1,800	$1.64	44d	1	0.52mi
1517 Halifax St Unit 10 Petersburg, VA	2.0	1.0	900	$995	$1.11	44d	1	0.56mi
929 Farmer St Petersburg, VA	2.0	1.0	850	$895	$1.05	24d	1	0.61mi
1740 Randolph Ave Petersburg, VA	4.0	2.0	1400	$2,000	$1.43	11d	1	0.62mi
1649 Delmar Ave Petersburg, VA	3.0	1.5	1248	$1,700	$1.36	2d	1	0.64mi
1516 W Clara Dr Unit 8 Petersburg, VA	2.0	1.0	1000	$995	$0.99	18d	1	0.66mi
212 S Dunlop St Petersburg, VA	2.0	1.0	700	$1,250	$1.79	44d	1	0.67mi
838 S Jones St Unit B Petersburg, VA	2.0	1.0	1296	$1,100	$0.85	44d	1	0.67mi
2125 Dupuy Rd Petersburg, VA	3.0	1.0	1063	$1,299	$1.22	2d	1	0.77mi
1800 Boydton Plank Rd Petersburg, VA	1.0–3.0	1.0	900	$1,425	$1.58	2d	14	0.83mi
214 N Dunlop St Unit 400 Petersburg, VA	2.0	2.0	892	$1,500	$1.68	44d	1	0.85mi
110 Grigg St Petersburg, VA	3.0	1.5	1200	$1,600	$1.33	2d	1	0.86mi
115 Pine St Unit 115 Petersburg, VA	3.0	1.5	1400	$1,462	$1.04	44d	1	0.88mi
712 W Washington St Unit B Petersburg, VA	2.0	1.0	1209	$1,250	$1.03	24d	1	0.89mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	745	$1,395	$1.87	2d	8	0.91mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	834	$1,399	$1.68	20d	2	0.91mi
214 N Dunlop St Petersburg, VA	1.0–2.0	1.0–2.0	799	$1,395	$1.74	2d	11	0.94mi
214 N Dunlop St Unit 404 Petersburg, VA	2.0	2.0	863	$1,400	$1.62	44d	1	0.94mi
214 N Dunlop St Apt 305 Petersburg, VA	2.0	2.0	945	$1,350	$1.43	45d	1	0.94mi
214 N Dunlop St Unit 119 Petersburg, VA	2.0	2.0	988	$1,399	$1.42	44d	1	0.94mi
2350 Hill St Unit H Petersburg, VA	3.0	1.5	1193	$1,775	$1.49	2d	1	0.98mi
714 High St Apt E Petersburg, VA	2.0	2.0	924	$1,300	$1.41	22d	1	1.02mi
310 Saint Luke St Petersburg, VA	3.0	2.0	1020	$1,491	$1.46	24d	1	1.03mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	775	$1,310	$1.69	22d	2	1.07mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	797	$1,395	$1.75	15d	9	1.07mi
109 Perry St Petersburg, VA	1.0–2.0	1.0–2.0	787	$1,577	$2.00	2d	15	1.10mi
217 N Carolina Ave Petersburg, VA	2.0	1.0	718	$1,025	$1.43	24d	1	1.11mi
718 Confederate Ave Petersburg, VA	3.0	2.0	852	$1,600	$1.88	2d	1	1.21mi
16 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	769	$2,312	$3.01	2d	17	1.21mi
9 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	721	$1,350	$1.87	18d	6	1.28mi
3301 Main St Unit A South Chesterfield, VA	2.0	1.0	990	$1,150	$1.16	2d	1	1.29mi
1640 Johnson Rd Petersburg, VA	1.0–3.0	1.0–1.5	972	$1,549	$1.59	2d	11	1.31mi
3716 Totty St South Chesterfield, VA	3.0	1.0	1092	$1,700	$1.56	44d	1	1.39mi

Listing history 8 events

1. 2026-02-24
   status Pending
2. 2026-02-18
   price $159,500
3. 2026-02-10
   listed $179,990 Active
4. 2006-09-22
   soldstatus $90,000
5. 2006-09-21
   soldstatus $87,000 271-char remark

   Show marketing remark (271 chars)

   Well maintained brick rancher. Great Starter Home. 3 bedrooms, 1 bath, living and dining room, cozy kitchen with new countertop and divider bar, utility room plus carport. A must see. 2-10 Home Buyers Warranty. * * * Hardwood floors to be refinished at closing. * * *

6. 2006-09-21
   soldstatus $87,000 271-char remark

   Show marketing remark (271 chars)

   Well maintained brick rancher. Great Starter Home. 3 bedrooms, 1 bath, living and dining room, cozy kitchen with new countertop and divider bar, utility room plus carport. A must see. 2-10 Home Buyers Warranty. * * * Hardwood floors to be refinished at closing. * * *

7. 2006-05-08
   listed $91,500 271-char remark

   Show marketing remark (271 chars)

   Well maintained brick rancher. Great Starter Home. 3 bedrooms, 1 bath, living and dining room, cozy kitchen with new countertop and divider bar, utility room plus carport. A must see. 2-10 Home Buyers Warranty. * * * Hardwood floors to be refinished at closing. * * *

8. 2006-05-08
   listed $91,500 271-char remark

   Show marketing remark (271 chars)

   Well maintained brick rancher. Great Starter Home. 3 bedrooms, 1 bath, living and dining room, cozy kitchen with new countertop and divider bar, utility room plus carport. A must see. 2-10 Home Buyers Warranty. * * * Hardwood floors to be refinished at closing. * * *

ⓘ 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: $1,270 · $106/mo
• Projected year-2 tax: $1,308 · $109/mo
• Expected delta: +$38/yr (+$3/mo · 3.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 46% 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: $16,650
• − Mortgage interest: −$8,934
• − Property taxes: −$1,270
• − Insurance: −$798
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$4,640
• Taxable loss: −$1,656
• Est. tax savings @ 24.0%: +$397
• After-tax cash flow: $1,446/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: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• 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

+74.3% since first listed

8 events — show timeline

• 2026-02-24 Pending — CVRMLS
• 2026-02-18 Price Changed $159,500 CVRMLS
• 2026-02-10 Listed $179,990 CVRMLS
• 2006-09-22 Sold (Public Records) $90,000 Public Records
• 2006-09-21 Sold (MLS) $87,000 CVRMLS
• 2006-09-21 Sold (MLS) $87,000 CVRMLS
• 2006-05-08 Listed $91,500 CVRMLS
• 2006-05-08 Listed $91,500 CVRMLS

Property tax history

+1.5%/yr

Latest (2025): $1,270 · +22.0% YoY. Source: county tax records.