8920 Highway 47 · Chase City, VA 23924

$72,500

3 bd · 2.0 ba · 1,416 sqft · SingleFamily · 50 Days on market

Built 1953 Poor condition 1.27 ac lot $51/sqft · 33% below area Est $109k · 33% under ↓ 3% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Investor opportunity 3 Bedrooms 2 Full Bath home being sold As IS This property has been placed in an upcoming online event. All bids should be submitted at www. xome.com (void where prohibited). All offers received prior to the event period should be submitted by the buyer or buyer's agent by clicking on the “Make Offer” button on the Property Details page on Xome.com. All offers will be reviewed and responded to within 3 business days. All properties are subject to a 5% buyer's premium pursuant to the Auction Participation Agreement and Terms & Conditions (minimums will apply). Please contact listing agent for details and commission paid on this property. ” open house on may 6,2026 11am to 4pm for inspections

Key facts

• 1.27 acre lot
• Built 1953
• Listed 49 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $72k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $921 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 7.3% in Chase City — 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 (#238 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• 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: Chase City Elementary (math 47% / reading 57%, grade C-, #696 of 1,108 statewide, top 66%, 387 students, 89% FRL); Bluestone Middle (math 57% / reading 77%); Bluestone High (math 67% / reading 77%) — zoned schools average 89% FRL vs 54% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 41 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($501 loan paydown + $1k appreciation (2.0% 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 (2.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% 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 $70,325 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1953 — 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 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: 2.48% ✓
• Cap rate: 21.54%
• Cash-on-cash: 54.44%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (median comp): $108,564
• List price: $72,500
• Delta: -33.22%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8290 Highway Forty Seven	0.60mi	3/2.0	1,460 (+3%)	0mo	$70,000	$48	67

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

Projected returns pro-forma

2.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 58.4%
• Equity multiple: 4.14×
• Total profit: $63,801
• Equity at exit: $28,751

10-year hold

• IRR: 58.8%
• Equity multiple: 8.37×
• Total profit: $149,650
• Equity at exit: $41,522

Cash invested: $20,300 (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 23924

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$380
• Tax est. 1.5%: −$91 /mo · $1,088/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $921

Break-even live

Break-even rent $634

Max offer price $72,500

Occupancy floor 44%

Sensitivity live

Price	-10% $971	-5% $946	+0% $921	+5% $896	+10% $871
Rent	-10% $779	-5% $850	+0% $921	+5% $992	+10% $1,063
Rate	-1.0pp $957	-0.5pp $939	base $921	+0.5pp $902	+1.0pp $883

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1035 Roark St Chase City, VA	2.0	1.0	892	$1,800	$2.02	15d	1	1.22mi

Listing history 3 events

1. 2026-04-08
   listed $72,500 Active 746-char remark

   Show marketing remark (746 chars)

   Investor opportunity 3 Bedrooms 2 Full Bath home being sold As IS This property has been placed in an upcoming online event. All bids should be submitted at www. xome.com (void where prohibited). All offers received prior to the event period should be submitted by the buyer or buyer's agent by clicking on the “Make Offer” button on the Property Details page on Xome.com. All offers will be reviewed and responded to within 3 business days. All properties are subject to a 5% buyer's premium pursuant to the Auction Participation Agreement and Terms & Conditions (minimums will apply). Please contact listing agent for details and commission paid on this property. ” open house on may 6,2026 11am to 4pm for inspections

2. 2017-07-10
   soldstatus $72,000 741-char remark

   Show marketing remark (741 chars)

   Very nice home priced to sell. Present owner has made upgrades in past, new septic, new HP, roof replaced, plumbing/electrical upgrades, drainage measures added, new distribution box for septic, landscaping improved, property adjoins Tee#1 MCC, residents have options to join any or all (golf, tennis, pool) , Kerr Lake is only 20 mins away that offers all the fun in the sun, boating, kayaking, swimming, camping, etc. Property is secluded nice paved circular drive, has fruit trees and grape vines, big side and back yard, desirable location close to country club, town amenities, but only pay county taxes. Think of all possibilities, make it your home, or buy for investment rental!!! Sellers are motivated to sell it so bring me offers.

3. 2017-03-08
   listed $75,000 741-char remark

   Show marketing remark (741 chars)

   Very nice home priced to sell. Present owner has made upgrades in past, new septic, new HP, roof replaced, plumbing/electrical upgrades, drainage measures added, new distribution box for septic, landscaping improved, property adjoins Tee#1 MCC, residents have options to join any or all (golf, tennis, pool) , Kerr Lake is only 20 mins away that offers all the fun in the sun, boating, kayaking, swimming, camping, etc. Property is secluded nice paved circular drive, has fruit trees and grape vines, big side and back yard, desirable location close to country club, town amenities, but only pay county taxes. Think of all possibilities, make it your home, or buy for investment rental!!! Sellers are motivated to sell it so bring me offers.

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% 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: $21,600
• − Mortgage interest: −$4,061
• − Property taxes: −$1,088
• − Insurance: −$362
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$2,109
• Taxable income: $10,524
• Est. tax owed @ 24.0%: −$2,526
• After-tax cash flow: $8,526/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 · 8 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including a new roof, siding, carpet, and paint job. It presents a significant investment opportunity for an investor looking to renovate and increase its value.

Repairs flagged

• Major Boarded-up windows — Security and safety risk
• Major Damaged roof — Structural integrity risk
• Major Worn-out carpet — Safety hazard and poor aesthetic
• Major Peeling paint — Safety hazard and poor aesthetic

Value-add opportunities

• Both New roof — Safety and improved aesthetics
• Both New siding — Safety and improved aesthetics
• Both New carpet — Safety and improved aesthetics
• Both Paint job — Safety and improved aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Boarded-up windows · Security and safety risk	Major	$15,000–50,000
Damaged roof · Structural integrity risk	Major	$15,000–50,000
Worn-out carpet · Safety hazard and poor aesthetic	Major	$15,000–50,000
Peeling paint · Safety hazard and poor aesthetic	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both New roof — Safety and improved aesthetics ↑
• Both New siding — Safety and improved aesthetics ↑
• Both New carpet — Safety and improved aesthetics ↑
• Both Paint job — Safety and improved aesthetics ↑

ⓘ 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: 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 — Chase City

• Score: 70/100
• State rank: #238
• US rank: #8038

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,709

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: Majority White (60%)
• Race & ethnicity: White 60% Black 36% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 2.04%
• Current HPI: 155.5959
• 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

-3.3% since first listed

3 events — show timeline

• 2026-04-08 Listed $72,500 RVLG
• 2017-07-10 Sold (MLS) $72,000 SPLLAR
• 2017-03-08 Listed $75,000 SPLLAR