2316 R St · Richmond, VA 23223

$229,950

3 bd · 1.5 ba · 1,298 sqft · SingleFamily public records · 11 Days on market

Built 1900 2,308 sqft lot Est $274k · 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).

• ARV discount +14.7/15.0
• Cash flow +13.6/30.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Rent growth +4.1/5.0
• 1% rule +3.4/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Richmond Best Buy * * Now is the time to buy this fabulous "4-bedroom" Home in Fairmount Park. This property was renovated a few years ago and has been a great rental for those years. Tenant just moved out and seller wants to sell. Property will be sold in As-Is condition, with no known defects. Property has 4 bedrooms, vinyl siding, HVAC, off street parking and a privacy fence. There is 1 bedroom on the first floor and 3 on the second floor, only 1 has a closet. Property just needs a shinning and is pretty much move in ready right now. Priced to sell so get here fast. Drive by and take a look today.

Key facts

• Hvac
• Off street parking
• Privacy fence

Tags

• VINYL SIDING
• HVAC
• OFF STREET PARKING
• PRIVACY FENCE

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story home; Resale property
• Construction: Frame construction with vinyl siding; Composition roof; Built prior to current year (existing structure)
• Exterior features: Deck; Front porch; Fenced backyard

Interior

• Bedrooms: Includes a bedroom on the main level
• Flooring: Ceramic tile; Partial carpet; Wood
• Bathrooms: One full bathroom with tub and shower; One half bathroom
• Heating & cooling: Heat pump for heating and cooling; Electric heating
• Interior features: Bedroom on main level; Crawl space
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $15 ($177/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 $194k (15.8% below list).
• Recommended offer: $194k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 (+6.4%/yr); 337 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 42% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 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 $26k; list at $230k implies a 784% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $193,723 (15.8% below list)

Questions for the listing agent

1. Built in 1900 — 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: 0.84% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $273,878
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1911 N 23rd St	0.57mi	3/1.5	1,284 (-1%)	5mo	$260,000	$202	68
2009 X St	0.47mi	3/1.0	1,245 (-4%)	2mo	$216,000	$173	67
510 N 28th St	0.56mi	3/2.5	1,320 (+2%)	0mo	$435,000	$330	66
3212 Q St	0.57mi	3/1.5	1,248 (-4%)	1mo	$355,000	$284	66
870 Jessamine St	0.27mi	3/1.5	1,480 (+14%)	2mo	$295,000	$199	62
1209 N 19th St	0.29mi	3/3.0	1,424 (+10%)	3mo	$300,000	$211	62
1109 N 20th St	0.23mi	3/3.0	1,477 (+14%)	1mo	$335,000	$227	59
708 N 21st St	0.44mi	2/2.5 (-1)	1,400 (+8%)	1mo	$392,000	$280	57
2012 Venable St	0.43mi	3/2.5	1,472 (+13%)	0mo	$410,000	$279	53
1829 N 29th St	0.62mi	2/1.0 (-1)	1,167 (-10%)	0mo	$126,000	$108	47
1601 Rogers St	0.59mi	3/2.5	1,484 (+14%)	4mo	$290,000	$195	41
2117 Ford Ave	0.74mi	3/2.5	1,440 (+11%)	4mo	$199,990	$139	40

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 · 6.38% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.54×
• Total profit: $-29,529
• Equity at exit: $34,286

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $5,392
• Equity at exit: $19,882

Cash invested: $64,386 (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 23223

• Rents YoY: 6.4%
• Active inventory: 337
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,937 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$214 /mo · $2,568/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $15

Break-even live

Break-even rent $1,919

Max offer price $229,950

Occupancy floor 94%

Sensitivity live

Price	-10% $145	-5% $80	+0% $15	+5% $-50	+10% $-115
Rent	-10% $-138	-5% $-62	+0% $15	+5% $91	+10% $168
Rate	-1.0pp $131	-0.5pp $73	base $15	+0.5pp $-45	+1.0pp $-105

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: $57,488
• Closing costs: $6,898
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2209 Fairmount Ave Richmond, VA	3.0	2.0	1652	$2,500	$1.51	44d	1	0.12mi
2200 Carrington St Unit 300 Richmond, VA	2.0	2.0	880	$1,435	$1.63	44d	1	0.19mi
2200 Carrington St Unit 301 Richmond, VA	2.0	2.0	890	$1,435	$1.61	16d	1	0.19mi
1107 N 27th St Richmond, VA	3.0	3.5	1792	$2,600	$1.45	5d	1	0.20mi
1108 N 21st St Unit B Richmond, VA	2.0	2.0	1000	$1,799	$1.80	3d	1	0.22mi
2016 Fairmount Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,007	$1.01	15d	1	0.22mi
2016 Fairmount Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,007	$1.01	44d	1	0.22mi
1427 N 22nd St Richmond, VA	3.0	2.5	1764	$2,700	$1.53	44d	1	0.24mi
1004 1/2 N 21st St Unit A Richmond, VA	3.0	2.0	1248	$2,195	$1.76	17d	1	0.24mi
901 N 27th St Apt 1 Richmond, VA	4.0	1.0	1240	$2,000	$1.61	17d	1	0.29mi
2820 Q St Richmond, VA	3.0	2.0	1523	$2,195	$1.44	5d	1	0.30mi
803 N 26th St Unit A Richmond, VA	2.0	2.0	1188	$1,849	$1.56	44d	1	0.32mi
1408 N 29th St Richmond, VA	2.0	1.0	1528	$1,150	$0.75	21d	1	0.34mi
2914 R St Richmond, VA	2.0	1.0	1250	$1,500	$1.20	24d	1	0.34mi
1404 N 30th St Richmond, VA	3.0	2.5	1700	$2,195	$1.29	5d	1	0.38mi
1617 N 21st St Richmond, VA	3.0	1.0	1157	$1,825	$1.58	5d	1	0.39mi
3018 S St Richmond, VA	3.0	2.5	1786	$2,645	$1.48	44d	1	0.42mi
1603 N 29th St Richmond, VA	3.0	1.0	950	$1,600	$1.68	5d	1	0.46mi
3102 P St Unit B Richmond, VA	2.0	2.5	1313	$1,995	$1.52	5d	1	0.47mi
2003 Cedar St Richmond, VA	3.0	2.0	1420	$2,200	$1.55	44d	1	0.50mi
2906 Nine Mile Rd Richmond, VA	2.0	1.0	885	$1,845	$2.08	24d	1	0.51mi
517 N 21st St Unit 517B Richmond, VA	2.0	1.0	1447	$1,884	$1.30	17d	1	0.51mi
811 N 33rd St Unit A Richmond, VA	3.0	2.0	1315	$1,900	$1.44	5d	1	0.63mi
811 N 33rd St Unit A Richmond, VA	3.0	2.0	1315	$1,900	$1.44	17d	1	0.63mi
500 N 18th St Richmond, VA	1.0–2.0	1.0–2.0	737	$1,837	$2.49	2d	11	0.64mi
1614 N 19th St Richmond, VA	4.0	2.0	1584	$2,395	$1.51	5d	1	0.66mi
2106 Newbourne St Richmond, VA	3.0	2.0	1172	$1,875	$1.60	44d	1	0.68mi
1903 E Marshall St Richmond, VA	3.0	1.0–2.0	723	$1,799	$2.49	2d	57	0.69mi
507 N 32nd St Unit A Richmond, VA	2.0	1.0	1200	$1,995	$1.66	24d	1	0.72mi
2001 E Broad St Richmond, VA	1.0–2.0	1.0–2.0	835	$1,790	$2.14	2d	4	0.73mi
15 N 18th St Richmond, VA	2.0	2.0	852	$1,438	$1.69	15d	2	0.81mi
1806 Sussex St Richmond, VA	4.0	2.0	1197	$2,500	$2.09	44d	1	0.86mi
2201 E Franklin St Richmond, VA	1.0–3.0	1.0–3.0	905	$2,349	$2.59	4d	7	0.86mi
2153 Cool Ln Richmond, VA	2.0	1.0	1148	$1,080	$0.94	44d	1	0.87mi
2213 E Franklin St Richmond, VA	1.0–2.0	1.0–2.0	862	$2,049	$2.38	5d	6	0.87mi
16 N 22nd St Richmond, VA	1.0–2.0	1.0–2.0	844	$1,675	$1.98	4d	7	0.87mi
3508 E Clay St Unit A Richmond, VA	2.0	2.0	1188	$1,899	$1.60	15d	1	0.87mi
1806 E Franklin St Richmond, VA	1.0–2.0	1.0–2.0	703	$2,005	$2.85	2d	12	0.89mi
2001 E Franklin St Richmond, VA	1.0–2.0	1.0–2.0	761	$1,862	$2.45	4d	34	0.90mi
1901 E Franklin St Apt 5 Richmond, VA	3.0	3.0	1530	$1,850	$1.21	24d	1	0.91mi

Listing history 9 events

1. 2026-06-18
   days on market $229,950 Active 11 DOM
2. 2026-06-17
   days on market $229,950 Active 10 DOM
3. 2026-06-16
   days on market $229,950 Active 9 DOM
4. 2026-06-15
   days on market $229,950 Active 8 DOM
5. 2026-06-13
   days on market $229,950 Active 6 DOM
6. 2026-06-10
   days on market $229,950 Active 3 DOM
7. 2026-06-09
   days on market $229,950 Active 2 DOM
8. 2026-06-08
   remarks 617-char remark
9. 2026-06-08
   listed $229,950 Active 1 DOM

ⓘ 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: $2,568 · $214/mo
• Projected year-2 tax: $2,568 · $214/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,247
• − Mortgage interest: −$12,881
• − Property taxes: −$2,568
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,860
• − Management: −$1,860
• − Depreciation: −$6,689
• Taxable loss: −$3,761
• Est. tax savings @ 24.0%: +$903
• After-tax cash flow: $1,079/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: Henrico County · 334,490 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 54,659
• Household income: $55,731
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3530.0

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: Predominantly Black (71%)
• Race & ethnicity: Black 71% White 19% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -257.81%
• Current HPI: 324.0589
• Rent YoY: ▲ 6.38%
• 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

+1696.5% since first listed

32 events — show timeline

• 2026-06-05 Listed $229,950 CVRMLS
• 2026-03-31 Listing Removed — CVRMLS
• 2026-03-08 Price Changed $249,500 CVRMLS
• 2026-02-12 Price Changed $249,750 CVRMLS
• 2026-02-09 Price Changed $249,850 CVRMLS
• 2026-01-22 Listed $249,950 CVRMLS
• 2023-08-22 Relisted — CVRMLS
• 2023-08-15 Pending — CVRMLS
• 2023-08-09 Price Changed $235,000 CVRMLS
• 2023-07-31 Price Changed $275,000 CVRMLS
• 2023-06-29 Listed $285,000 CVRMLS
• 2020-10-06 Listing Removed — CVRMLS
• 2020-09-25 Price Changed $182,900 CVRMLS
• 2020-09-21 Price Changed $184,900 CVRMLS
• 2020-09-15 Price Changed $187,900 CVRMLS
• 2020-09-02 Price Changed $199,900 CVRMLS
• 2020-09-02 Listed $1,999,900 CVRMLS
• 2020-08-28 Listing Removed — CVRMLS
• 2020-08-18 Price Changed $205,000 CVRMLS
• 2020-07-25 Listed $215,000 CVRMLS
• 2019-03-02 Listing Removed — CVRMLS
• 2019-02-20 Listed $199,950 CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2008-03-31 Sold (MLS) $26,000 CVRMLS
• 2008-03-31 Sold (MLS) $26,000 CVRMLS
• 2008-02-22 Listed $30,900 CVRMLS
• 2008-02-22 Listed $30,900 CVRMLS
• 2007-05-14 Sold (Public Records) $96,000 Public Records
• 2006-09-10 Listing Removed — CVRMLS
• 2005-09-09 Listed $89,950 CVRMLS
• 2005-09-09 Listed $89,950 CVRMLS
• 1987-02-04 Sold (Public Records) $12,800 Public Records

Property tax history

+16.6%/yr

Latest (2022): $2,568 · +36.2% YoY. Source: county tax records.