917 Askin St #3 · Martinsville, VA 24112

$169,900

9 bd · 9.0 ba · 2,034 sqft · MultiFamily · 12 Days on market

Built 1928 Good condition 8,712 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Investor Alert! Don't miss this exceptional opportunity to add a Newly renovated triplex to your investment portfolio. This income-producing property has been thoughtfully updated and is ready for its next owner. Each unit offers comfortable living space with modern improvements throughout, minimizing maintenance concerns and maximizing rental appeal. Whether you're a seasoned investor or looking to start your real estate investment journey, this property provides strong income potential and the opportunity for immediate cash flow. Conveniently located near shopping, dining, employment centers, and local amenities, tenants will appreciate the accessibility and convenience this location offe

Key facts

• Immediate cash flow
• Modern improvements
• Conveniently located

Tags

• NEWLY RENOVATED TRIPLEX
• INCOME PRODUCING PROPERTY
• MODERN IMPROVEMENTS
• STRONG INCOME POTENTIAL
• IMMEDIATE CASH FLOW
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Located in the Martinsville subdivision
• Financial info: Financial details not provided
• HOA & community: HOA/community information not provided

Exterior

• Parking: On-street parking
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Zoned RC
• Construction: Vinyl siding
• Exterior features: Composition roof

Interior

• Kitchen: Appliances not specified
• Bedrooms: Information not provided
• Flooring: Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating; Electric heating; Window-unit cooling
• Interior features: Laminate flooring; Window cooling units
• Laundry & utility: Washer/dryer information not provided

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $170k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $409/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Cap rate 15.0% vs local median 5.9% in Martinsville — 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 70/100 on livability (#231 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: amenities F, commute F, employment D-.
• Martinsville City Public School District (town): math 29% / reading 53% proficiency, ranked #122 of 131 in VA (top 93%) — 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: Patrick Henry Elementary (math 27% / reading 47%, grade F, #933 of 1,108 statewide, top 86%, 343 students, 100% FRL); Martinsville High (math 32% / reading 72%, grade D+, #295 of 319 statewide, top 93%, 564 students, 101% FRL) — zoned schools average 100% FRL vs 74% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 256 active listings in the ZIP; 5 units permitted in Martinsville city in 2024 (5 in 5+ unit buildings).
• At $3,041/mo this rent would consume 75% of the median local household income ($49k/yr) (locally 888% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Martinsville 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 $48k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $169,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.79% ✓
• Cap rate: 14.97%
• Cash-on-cash: 30.98%
• DSCR: 2.38
• GRM: 4.7

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: 25.8%
• Equity multiple: 2.07×
• Total profit: $50,743
• Equity at exit: $25,333

10-year hold

• IRR: 33.5%
• Equity multiple: 4.05×
• Total profit: $145,103
• Equity at exit: $14,690

Cash invested: $47,572 (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 24112

• Active inventory: 256
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,041 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $1,228

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 55%

Sensitivity live

Price	-10% $1,346	-5% $1,287	+0% $1,228	+5% $1,170	+10% $1,111
Rent	-10% $988	-5% $1,108	+0% $1,228	+5% $1,348	+10% $1,468
Rate	-1.0pp $1,314	-0.5pp $1,271	base $1,228	+0.5pp $1,184	+1.0pp $1,139

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$3,042
Total (3 units)			$3,041

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-19
   days on market $169,900 Active 12 DOM
2. 2026-06-18
   days on market $169,900 Active 11 DOM
3. 2026-06-17
   days on market $169,900 Active 10 DOM
4. 2026-06-16
   days on market $169,900 Active 9 DOM
5. 2026-06-15
   days on market $169,900 Active 8 DOM
6. 2026-06-14
   days on market $169,900 Active 6 DOM
7. 2026-06-12
   days on market $169,900 Active 5 DOM
8. 2026-06-09
   days on market $169,900 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $169,900 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $36,492
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$2,919
• − Management: −$2,919
• − Depreciation: −$4,943
• Taxable income: $12,796
• Est. tax owed @ 24.0%: −$3,071
• After-tax cash flow: $11,668/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 · 13 photos

Good 75/100 Cosmetic rehab

This newly renovated triplex is in excellent condition, ready for immediate rental or sale. The property offers modern updates and strong rental potential.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the property's curb appeal and can attract more tenants or buyers.
• Both Painting the exterior — Fresh paint can improve the property's appearance and value.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the property's curb appeal and can attract more tenants or buyers. ↑
• Both Painting the exterior — Fresh paint can improve the property's appearance and value. ↑

ⓘ 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: Martinsville City Public School District
• NCES district ID: 5102400
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 53% ▼ -14.00%
• Median HH income: $31,215
• Composite: 33.43/100
• National rank: #5467
• State rank: #122 of 131 in VA

Livability — Martinsville

• Score: 70/100
• State rank: #231
• US rank: #7826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinsville, VA
• County: Martinsville City · 31,028 people
• City population: 31,028
• Metro: Martinsville, VA
• Population (ZIP): 31,028
• Household income: $48,770
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 888.0

Population outlook (Martinsville County) Hauer SSP2

• Today (2025): 13,026 people
• By 2030: 12,673 · -2.7%
• By 2040: 11,933 · -8.4%
• By 2050: 11,136 · -14.5%
• By 2075: 9,886 · -24.1%
• By 2100: 8,334 · -36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Martinsville

• 2024 margin: Strong D (+22.6) · D 60.7% · R 38.1% · Other 1.2%
• 2008→2024 swing: -5.4pp toward R · 2008: 28.0pp · 2024: 22.6pp
• All cycles: 2024: D+22.6 2020: D+26.6 2016: D+23.5 2012: D+24.6 2008: D+28.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.37%
• Current HPI: 172.4393
• Rent YoY: —
• Metro: Martinsville, 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

1 event — show timeline

• 2026-06-07 Listed $169,900 DRRAR