359 Boardman Dr · Bracey, VA 23919

$185,000

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 3 Days on market

Built 2010 6,141 sqft lot Est $140k · 32% over $67/mo HOA · 4% of rent

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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 +23.6/30.0
• DSCR +7.6/10.0
• Appreciation +5.7/10.0
• Schools +5.4/10.0
• 1% rule +5.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to this beautiful doublewide home in River Ridge, located in the charming town of Bracey, VA. As you step inside, you are greeted with a cozy living room with windows, allowing natural light to fill the space. The living room opens up to a well-appointed kitchen, complete with modern appliances, ample storage space, and a breakfast bar. The home features three comfortable bedrooms, including a primary bedroom with an en-suite bathroom. The other two bedrooms share a full bathroom, and there is a convenient laundry room located just off the kitchen. You will love spending time on the large screened deck, perfect for entertaining guests or enjoying a quiet evening with family. The town of Bracey offers a variety of local shops and restaurants, making this a convenient and comfortable place to call home. This community offers a pool, boat ramp, day slips and a 9 hole golf course.

Key facts

• 6,141 sq ft lot
• Built 2010
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 8.6% vs local median 2.5% in Bracey — 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 (#421 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A; Watch: amenities F, commute F, health & safety D-.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mecklenburg County Middle (874 students, 88% FRL); Mecklenburg County High (1,163 students, 88% FRL) — zoned schools average 88% FRL vs 54% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 110 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.4% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $140,400
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Forest Trl	0.22mi	3/2.0	1,080 (0%)	13mo	$188,500	$175	79
284 Feather Trl	0.09mi	3/2.0	1,034 (-4%)	12mo	$95,000	$92	78
31 Feather Trl	0.14mi	3/2.0	1,120 (+4%)	13mo	$184,000	$164	77
127 & 97 Feather Trl	0.16mi	2/2.0 (-1)	980 (-9%)	1mo	$127,400	$130	72
599 Boardman Dr	0.19mi	3/2.0	1,120 (+4%)	21mo	$200,000	$179	68
150 Ford	0.15mi	3/2.0	1,196 (+11%)	14mo	$79,000	$66	63
75 Elkhorn Trl	0.07mi	3/1.5	920 (-15%)	10mo	$107,000	$116	61

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

Projected returns pro-forma

1.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.57×
• Total profit: $29,554
• Equity at exit: $67,238

10-year hold

• IRR: 14.3%
• Equity multiple: 2.81×
• Total profit: $93,808
• Equity at exit: $92,598

Cash invested: $51,800 (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 23919

• Home prices YoY: 0.7%
• Active inventory: 110
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,902 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$38 /mo · $458/yr
• Insurance: −$77
• HOA: −$67
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $350

Break-even live

Break-even rent $1,459

Max offer price $185,000

Occupancy floor 77%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $67 · $804/yr
• Likely covers: pool

Listing history 8 events

1. 2026-04-26
   status Pending
2. 2026-04-23
   listed $185,000 Active
3. 2023-05-22
   soldstatus $162,500 Closed 899-char remark

   Show marketing remark (899 chars)

   Welcome to this beautiful doublewide home in River Ridge, located in the charming town of Bracey, VA. As you step inside, you are greeted with a cozy living room with windows, allowing natural light to fill the space. The living room opens up to a well-appointed kitchen, complete with modern appliances, ample storage space, and a breakfast bar. The home features three comfortable bedrooms, including a primary bedroom with an en-suite bathroom. The other two bedrooms share a full bathroom, and there is a convenient laundry room located just off the kitchen. You will love spending time on the large screened deck, perfect for entertaining guests or enjoying a quiet evening with family. The town of Bracey offers a variety of local shops and restaurants, making this a convenient and comfortable place to call home. This community offers a pool, boat ramp, day slips and a 9 hole golf course.

4. 2023-05-22
   soldstatus $162,000

   Show marketing remark (899 chars)

   Welcome to this beautiful doublewide home in River Ridge, located in the charming town of Bracey, VA. As you step inside, you are greeted with a cozy living room with windows, allowing natural light to fill the space. The living room opens up to a well-appointed kitchen, complete with modern appliances, ample storage space, and a breakfast bar. The home features three comfortable bedrooms, including a primary bedroom with an en-suite bathroom. The other two bedrooms share a full bathroom, and there is a convenient laundry room located just off the kitchen. You will love spending time on the large screened deck, perfect for entertaining guests or enjoying a quiet evening with family. The town of Bracey offers a variety of local shops and restaurants, making this a convenient and comfortable place to call home. This community offers a pool, boat ramp, day slips and a 9 hole golf course.

5. 2023-04-12
   historical 899-char remark

   Show marketing remark (899 chars)

   Welcome to this beautiful doublewide home in River Ridge, located in the charming town of Bracey, VA. As you step inside, you are greeted with a cozy living room with windows, allowing natural light to fill the space. The living room opens up to a well-appointed kitchen, complete with modern appliances, ample storage space, and a breakfast bar. The home features three comfortable bedrooms, including a primary bedroom with an en-suite bathroom. The other two bedrooms share a full bathroom, and there is a convenient laundry room located just off the kitchen. You will love spending time on the large screened deck, perfect for entertaining guests or enjoying a quiet evening with family. The town of Bracey offers a variety of local shops and restaurants, making this a convenient and comfortable place to call home. This community offers a pool, boat ramp, day slips and a 9 hole golf course.

6. 2023-03-09
   listed $165,000 899-char remark

   Show marketing remark (899 chars)

   Welcome to this beautiful doublewide home in River Ridge, located in the charming town of Bracey, VA. As you step inside, you are greeted with a cozy living room with windows, allowing natural light to fill the space. The living room opens up to a well-appointed kitchen, complete with modern appliances, ample storage space, and a breakfast bar. The home features three comfortable bedrooms, including a primary bedroom with an en-suite bathroom. The other two bedrooms share a full bathroom, and there is a convenient laundry room located just off the kitchen. You will love spending time on the large screened deck, perfect for entertaining guests or enjoying a quiet evening with family. The town of Bracey offers a variety of local shops and restaurants, making this a convenient and comfortable place to call home. This community offers a pool, boat ramp, day slips and a 9 hole golf course.

7. 2015-11-06
   soldstatus $105,000
8. 2010-08-19
   soldstatus $22,000

ⓘ 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: $458 · $38/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$1,059/yr (+$88/mo · 231.0%)

ⓘ 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 7/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,825
• − Mortgage interest: −$10,363
• − Property taxes: −$458
• − Insurance: −$925
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − HOA: −$804
• − Depreciation: −$5,382
• Taxable income: $1,241
• Est. tax owed @ 24.0%: −$298
• After-tax cash flow: $3,905/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: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Bracey

• Score: 61/100
• State rank: #421
• US rank: #18014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bracey, VA
• City population: 2,096
• Population (ZIP): 2,096

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 10% Two or more races 3%
• Common ancestry: Russian 5% Slovak 3% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.42%
• Current HPI: 204.6074
• 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

+740.9% since first listed

8 events — show timeline

• 2026-04-26 Pending — RVLG
• 2026-04-23 Listed $185,000 RVLG
• 2023-05-22 Sold (Public Records) $162,000 Public Records
• 2023-05-22 Sold (MLS) $162,500 RVLG
• 2023-04-12 Delisted — RVLG
• 2023-03-09 Listed $165,000 RVLG
• 2015-11-06 Sold (Public Records) $105,000 Public Records
• 2010-08-19 Sold (Public Records) $22,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $458 · +0.0% YoY. Source: county tax records.