117 Monroe St · Madison Heights, VA 24574

$199,900

3 bd · 1.5 ba · 1,232 sqft · SingleFamily public records · 56 Days on market

Built 1905 0.34 ac lot Est $200k · at est.

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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 +14.9/30.0
• ARV discount +7.4/15.0
• DSCR +4.5/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated 2-bedroom, 2 full bath property offering modern upgrades and comfortable living. This move-in ready home features a convenient main-level bonus room, perfect for guests or flexible living needs. Enjoy a fully renovated interior with a stylish updated kitchen complete with stainless steel appliances, new flooring throughout, and fresh paint that gives the home a bright, welcoming feel. Major upgrades provide peace of mind, including new siding, windows, roof, and HVAC system. Ideally located just minutes from shopping, restaurants, and everyday conveniences, this home combines modern updates with a fantastic location in Amherst County. Don't miss the

Key facts

• New siding
• New flooring
• Updated kitchen

Tags

• MAIN-LEVEL BONUS ROOM
• FULLY RENOVATED INTERIOR
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• NEW FLOORING
• NEW SIDING

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Septic tank
• Home design: Single family residence; 2 stories
• Construction: Vinyl siding; Shingle roof
• Exterior features: Deck; Porch; Storage structure

Interior

• Kitchen: Electric range; Refrigerator; Microwave
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (heating)
• Interior features: Electric water heater; Basement
• Laundry & utility: Main level laundry closet; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $57 ($683/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 $155k (22.5% below list).
• Recommended offer: $155k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.4% in Madison Heights — 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 73/100 on livability (#166 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute B; Watch: health & safety C-, employment D, amenities F.
• Amherst County Public School District (rural): math 40% / reading 64% proficiency, ranked #94 of 131 in VA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Amherst Elementary (math 57% / reading 77%, grade B+, #381 of 1,108 statewide, top 36%, 260 students, 78% FRL); Amherst Middle (math 30% / reading 66%, grade C-, #247 of 342 statewide, top 74%, 347 students, 77% FRL); Amherst County High (math 57% / reading 81%, grade B, #170 of 319 statewide, top 55%, 1,260 students, 75% FRL) — zoned schools average 77% FRL vs 42% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 51 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 228 units permitted in Amherst County in 2024 (108 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 $6k of value loss. Plan a longer hold.
• Amherst County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $74k; list at $200k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,000 (22.5% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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 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?
5. 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?
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 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: 0.78% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $199,584
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Monroe St	0.00mi	2/2.0 (-1)	1,232 (0%)	0mo	$199,900	$162	93
107 B St	0.28mi	2/1.0 (-1)	1,204 (-2%)	8mo	$149,900	$125	69
138 Magnolia Ln	0.39mi	3/1.0	1,188 (-4%)	7mo	$246,000	$207	68
136 A St	0.35mi	2/2.0 (-1)	1,150 (-7%)	13mo	$175,000	$152	55

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-28,875
• Equity at exit: $29,806

10-year hold

• IRR: -5.8%
• Equity multiple: 0.63×
• Total profit: $-20,915
• Equity at exit: $17,284

Cash invested: $55,972 (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 24574

• Home prices YoY: -15.4%
• Active inventory: 51
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$36 /mo · $432/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $57

Break-even live

Break-even rent $1,478

Max offer price $199,900

Occupancy floor 91%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1208 S Coolwell Rd Madison Heights, VA	3.0	1.0	845	$1,550	$1.83	13d	1	1.44mi

Listing history 5 events

1. 2026-05-01
   status Pending
2. 2026-04-24
   price $199,900
3. 2026-04-06
   price $215,000
4. 2026-03-05
   listed $225,000 Active
5. 2003-07-01
   soldstatus $74,000

ⓘ 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: $432 · $36/mo
• Projected year-2 tax: $1,639 · $137/mo
• Expected delta: +$1,207/yr (+$101/mo · 279.5%)

ⓘ 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 6/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,600
• − Mortgage interest: −$11,198
• − Property taxes: −$432
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$5,815
• Taxable loss: −$2,820
• Est. tax savings @ 24.0%: +$677
• After-tax cash flow: $1,360/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: Amherst County Public School District
• NCES district ID: 5100210
• Math proficiency: 40% ▼ -42.00%
• Reading proficiency: 64% ▼ -14.00%
• Median HH income: $45,945
• Composite: 43.96/100
• National rank: #2900
• State rank: #94 of 131 in VA

Livability — Madison Heights

• Score: 73/100
• State rank: #166
• US rank: #5166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 15,744
• Population (ZIP): 4,071

Population outlook (Amherst County) Hauer SSP2

• Today (2025): 29,790 people
• By 2030: 28,332 · -4.9%
• By 2040: 24,963 · -16.2%
• By 2050: 21,468 · -27.9%
• By 2075: 14,111 · -52.6%
• By 2100: 9,344 · -68.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 17% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 1% Romanian 1%
• Foreign-born: 4% · Canada, Philippines, Guatemala
• Languages at home: 96% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Amherst

• 2024 margin: Solid R (+36.5) · D 31.4% · R 67.9%
• 2008→2024 swing: -20.3pp toward R · 2008: -16.2pp · 2024: -36.5pp
• All cycles: 2024: R+36.5 2020: R+31.6 2016: R+30.7 2012: R+19.9 2008: R+16.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.52%
• Current HPI: 178.6127
• 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

+170.1% since first listed

5 events — show timeline

• 2026-05-01 Pending — LMLS
• 2026-04-24 Price Changed $199,900 LMLS
• 2026-04-06 Price Changed $215,000 LMLS
• 2026-03-05 Listed $225,000 LMLS
• 2003-07-01 Sold (Public Records) $74,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $432 · +0.0% YoY. Source: county tax records.