1902 Bainbridge St · Richmond, VA 23224

$125,000

2 bd · 1.5 ba · 1,313 sqft · SingleFamily public records · 274 Days on market

Built 1910 2,221 sqft lot $95/sqft · 53% below area

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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
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two story 1313 sq. ft. total renovation project. Growing Manchester area with newly renovated homes and new construction. Minutes from Downtown Richmond.

Key facts

• New construction
• 2,221 sq ft lot
• Built 1910

Tags

• TOTAL RENOVATION PROJECT
• NEWLY RENOVATED HOMES
• NEW CONSTRUCTION
• MINUTES FROM DOWNTOWN RICHMOND

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $728 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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 rising fast (+4.5%/yr); 173 active listings in the ZIP; 40 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).
• At $1,918/mo this rent would consume 46% of the median local household income ($50k/yr) (locally 3584% 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 $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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 $90k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.53% ✓
• Cap rate: 13.29%
• Cash-on-cash: 24.97%
• DSCR: 2.11
• GRM: 5.4

CMA / ARV

• ARV (median comp): $265,675
• List price: $125,000
• Delta: -52.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1322 Porter St	0.30mi	3/1.0 (+1)	1,308 (-0%)	5mo	$230,000	$176	75
1702 Everett St	0.35mi	2/1.5	1,216 (-7%)	8mo	$275,000	$226	65
1602 Decatur St	0.23mi	2/2.0	1,491 (+14%)	2mo	$324,500	$218	63
1912 Chicago Ave	0.57mi	3/1.0 (+1)	1,280 (-2%)	2mo	$150,000	$117	60
100 W 29th St	0.64mi	3/2.0 (+1)	1,296 (-1%)	2mo	$330,000	$255	59
1800 Maury St	0.40mi	3/2.5 (+1)	1,487 (+13%)	1mo	$285,000	$192	49
1110 Perry St	0.43mi	3/2.0 (+1)	1,503 (+14%)	2mo	$360,000	$240	47
1606 Chicago Ave	0.58mi	3/2.0 (+1)	1,446 (+10%)	4mo	$298,500	$206	46
2019 Dinwiddie Ave	0.61mi	3/2.5 (+1)	1,490 (+14%)	1mo	$340,000	$228	39
2004 Edwards Ave	0.70mi	3/2.0 (+1)	1,136 (-14%)	1mo	$225,000	$198	37
400 W 29th St	0.68mi	3/2.0 (+1)	1,134 (-14%)	2mo	$345,000	$304	37
2857 Decatur St	0.73mi	3/1.0 (+1)	1,148 (-13%)	1mo	$250,000	$218	37

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 · 4.55% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 1.83×
• Total profit: $29,156
• Equity at exit: $18,638

10-year hold

• IRR: 29.3%
• Equity multiple: 3.80×
• Total profit: $97,914
• Equity at exit: $10,808

Cash invested: $35,000 (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 23224

• Rents YoY: 4.5%
• Active inventory: 173
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,918 high
• Mortgage (P&I): −$656
• Tax from tax record: −$79 /mo · $948/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $728

Break-even live

Break-even rent $996

Max offer price $125,000

Occupancy floor 57%

Sensitivity live

Price	-10% $799	-5% $764	+0% $728	+5% $693	+10% $658
Rent	-10% $577	-5% $653	+0% $728	+5% $804	+10% $880
Rate	-1.0pp $791	-0.5pp $760	base $728	+0.5pp $696	+1.0pp $663

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1912 Porter St Richmond, VA	3.0	1.5	1415	$1,950	$1.38	24d	1	0.07mi
1529 Porter St Unit A Richmond, VA	3.0	2.5	1711	$2,400	$1.40	24d	1	0.18mi
201 Cowardin Ave Unit B Richmond, VA	2.0	2.5	1436	$2,200	$1.53	44d	1	0.19mi
1422 Bainbridge St Richmond, VA	2.0	2.0	1121	$2,399	$2.14	3d	1	0.25mi
1411 Porter St Unit B Richmond, VA	3.0	3.0	1500	$2,145	$1.43	5d	1	0.29mi
1719 Everett St Richmond, VA	3.0	2.5	1748	$2,255	$1.29	44d	1	0.30mi
1429 McDonough St Richmond, VA	1.0–3.0	1.0–2.0	826	$1,894	$2.29	3d	15	0.34mi
2522 Porter St Richmond, VA	3.0	2.5	1390	$1,800	$1.29	44d	1	0.37mi
2010 Maury St Richmond, VA	2.0	1.0	883	$1,675	$1.90	5d	1	0.39mi
1212 Porter St Unit B Richmond, VA	3.0	2.5	1837	$2,300	$1.25	44d	1	0.40mi
1212 Porter St Apt A Richmond, VA	2.0	2.0	980	$1,995	$2.04	5d	1	0.40mi
1207 Bainbridge St Richmond, VA	2.0	2.0	937	$2,250	$2.40	12d	1	0.40mi
1211 Porter St Richmond, VA	3.0	3.0	1571	$2,495	$1.59	20d	1	0.40mi
1203 Bainbridge St Apt A Richmond, VA	2.0	2.0	927	$1,495	$1.61	44d	1	0.42mi
10 W 27th St Unit P P Richmond, VA	2.0	1.0	975	$1,300	$1.33	44d	1	0.49mi
2708 Semmes Ave Unit A Richmond, VA	2.0	1.0	1050	$1,275	$1.21	44d	1	0.58mi
907 Bainbridge St Unit A Richmond, VA	2.0	2.0	927	$1,995	$2.15	44d	1	0.58mi
1913 Dinwiddie Ave Unit 1546196P Richmond, VA	2.0	1.0	1044	$2,519	$2.41	15d	1	0.59mi
815 Porter St Richmond, VA	1.0	1.0	1010	$1,300	$1.29	5d	1	0.62mi
901 McDonough St Richmond, VA	1.0–2.0	1.0–2.0	886	$2,037	$2.30	4d	14	0.63mi
815 Perry St Richmond, VA	1.0–3.0	1.0–2.0	1004	$1,450	$1.44	2d	10	0.63mi
800 Richmond Hwy Richmond, VA	1.0–2.0	1.0–2.0	778	$2,044	$2.63	44d	1	0.65mi
800 Semmes Ave Richmond, VA	1.0–2.0	1.0–2.0	760	$2,575	$3.39	4d	23	0.66mi
1808 Edwards Ave Richmond, VA	3.0	2.0	1040	$1,750	$1.68	24d	1	0.68mi
700 Stockton St Richmond, VA	1.0–2.0	1.0	1035	$1,805	$1.74	2d	31	0.72mi
15 W 7th St Richmond, VA	1.0–3.0	1.0–2.5	881	$2,178	$2.47	3d	6	0.72mi
616 Hull St Richmond, VA	1.0–2.0	1.0–2.0	756	$1,495	$1.98	5d	5	0.72mi
84 W 6th St Richmond, VA	3.0	2.0	1493	$2,715	$1.82	4d	1	0.75mi
700 Everett St Richmond, VA	1.0–2.0	1.0–2.0	809	$1,849	$2.28	5d	14	0.78mi
500 Stockton St Richmond, VA	1.0–2.0	1.0–2.0	748	$1,346	$1.80	4d	16	0.83mi
411 Bainbridge St Richmond, VA	1.0–2.0	1.0–2.5	788	$1,843	$2.34	3d	18	0.85mi
21 E 4th St Richmond, VA	2.0	1.0–2.0	700	$2,028	$2.90	3d	12	0.87mi
403 Stockton St Richmond, VA	1.0–3.0	1.0–2.0	882	$1,685	$1.91	4d	22	0.87mi
500 Maury St Richmond, VA	2.0	1.0–2.0	665	$2,295	$3.45	4d	17	0.89mi
1100 Richmond Hwy Richmond, VA	1.0–3.0	1.0–2.0	1062	$1,880	$1.77	2d	16	0.90mi
360 Stockton St Richmond, VA	1.0	1.0–2.0	812	$1,525	$1.88	44d	3	0.92mi
307 Stockton St Richmond, VA	1.0–2.0	1.0–2.0	853	$1,722	$2.02	2d	27	0.93mi
201 Hull St Apt 41 Richmond, VA	2.0	1.5	962	$1,750	$1.82	17d	1	0.96mi
103 E 2nd St Richmond, VA	2.0	1.0–2.0	820	$2,340	$2.85	3d	18	0.99mi
2200 Ingram Ave Richmond, VA	2.0	1.0–2.0	711	$1,668	$2.35	5d	1	0.99mi

Listing history 40 events

1. 2026-06-18
   days on market $125,000 Active 274 DOM
2. 2026-06-17
   days on market $125,000 Active 273 DOM
3. 2026-06-16
   days on market $125,000 Active 272 DOM
4. 2026-06-15
   days on market $125,000 Active 271 DOM
5. 2026-06-13
   days on market $125,000 Active 269 DOM
6. 2026-06-10
   days on market $125,000 Active 266 DOM
7. 2026-06-09
   days on market $125,000 Active 265 DOM
8. 2026-06-08
   days on market $125,000 Active 264 DOM
9. 2026-06-07
   days on market $125,000 Active 263 DOM
10. 2026-06-03
    days on market $125,000 Active 259 DOM
11. 2026-06-02
    days on market $125,000 Active 258 DOM
12. 2026-06-01
    days on market $125,000 Active 257 DOM
13. 2026-05-31
    days on market $125,000 Active 256 DOM
14. 2026-05-08
    price $125,000 153-char remark

    Show marketing remark (153 chars)

    Two story 1313 sq. ft. total renovation project. Growing Manchester area with newly renovated homes and new construction. Minutes from Downtown Richmond.

15. 2025-09-15
    listed $129,000 Active 153-char remark

    Show marketing remark (153 chars)

    Two story 1313 sq. ft. total renovation project. Growing Manchester area with newly renovated homes and new construction. Minutes from Downtown Richmond.

16. 2025-07-31
    historical
17. 2024-10-24
    listed $130,000 Active
18. 2024-08-16
    historical
19. 2024-06-04
    price $135,500
20. 2024-05-09
    price $139,500
21. 2024-04-10
    price $143,000
22. 2024-03-08
    status Active
23. 2024-02-29
    status Pending
24. 2024-02-27
    price $145,950
25. 2023-12-20
    price $148,500
26. 2023-10-16
    listed $151,500 Active
27. 2023-10-15
    historical
28. 2023-09-19
    price $157,500
29. 2023-08-09
    price $169,950
30. 2023-06-29
    listed $180,000 Active
31. 2020-07-22
    soldstatus $90,000 Closed
32. 2020-06-30
    status Pending
33. 2020-06-26
    price $94,990
34. 2020-06-06
    listed $114,990 Active
35. 2017-08-01
    soldstatus $13,500
36. 2017-04-15
    historical
37. 2017-03-28
    price $39,500
38. 2017-03-16
    listed $44,500 Active
39. 1995-09-29
    soldstatus $8,000
40. 1985-10-17
    soldstatus $11,000

ⓘ 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: $948 · $79/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$77/yr (+$6/mo · 8.1%)

ⓘ 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: $23,013
• − Mortgage interest: −$7,002
• − Property taxes: −$948
• − Insurance: −$625
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − Depreciation: −$3,636
• Taxable income: $7,119
• Est. tax owed @ 24.0%: −$1,709
• After-tax cash flow: $7,032/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): 40,575
• Household income: $50,475
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3584.0

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 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 22% White 15% Two or more races 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 17% · Canada
• Languages at home: 78% English-only · Spanish 19% French/Haitian/Cajun 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: ▼ -283.99%
• Current HPI: 336.9345
• Rent YoY: ▲ 4.55%
• 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

+1036.4% since first listed

27 events — show timeline

• 2026-05-08 Price Changed $125,000 CVRMLS
• 2025-09-15 Listed $129,000 CVRMLS
• 2025-07-31 Listing Removed — CVRMLS
• 2024-10-24 Listed $130,000 CVRMLS
• 2024-08-16 Listing Removed — CVRMLS
• 2024-06-04 Price Changed $135,500 CVRMLS
• 2024-05-09 Price Changed $139,500 CVRMLS
• 2024-04-10 Price Changed $143,000 CVRMLS
• 2024-03-08 Relisted — CVRMLS
• 2024-02-29 Pending — CVRMLS
• 2024-02-27 Price Changed $145,950 CVRMLS
• 2023-12-20 Price Changed $148,500 CVRMLS
• 2023-10-16 Listed $151,500 CVRMLS
• 2023-10-15 Listing Removed — CVRMLS
• 2023-09-19 Price Changed $157,500 CVRMLS
• 2023-08-09 Price Changed $169,950 CVRMLS
• 2023-06-29 Listed $180,000 CVRMLS
• 2020-07-22 Sold (MLS) $90,000 CVRMLS
• 2020-06-30 Pending — CVRMLS
• 2020-06-26 Price Changed $94,990 CVRMLS
• 2020-06-06 Listed $114,990 CVRMLS
• 2017-08-01 Sold (Public Records) $13,500 Public Records
• 2017-04-15 Listing Removed — CVRMLS
• 2017-03-28 Price Changed $39,500 CVRMLS
• 2017-03-16 Listed $44,500 CVRMLS
• 1995-09-29 Sold (Public Records) $8,000 Public Records
• 1985-10-17 Sold (Public Records) $11,000 Public Records

Property tax history

+1.0%/yr

Latest (2022): $948 · +41.1% YoY. Source: county tax records.