124 W Sycamore St · Chase City, VA 23924

$50,000

6 bd · None ba · 2,426 sqft · SingleFamily public records · 215 Days on market

Built 1945 0.25 ac lot $21/sqft · 76% 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
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment property, this house is ready for renovation. Schedule a showing now!! Purchaser to verify utilities all information in the listing provided by the seller, including accessibility to water, sewer, power, gas, with Chase City or Mecklenburg County.

Key facts

• 0.25 acre lot
• Built 1945
• Listed 215 days

What this means for you Summary

Snapshot

• This is a 6-bed/?-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.5% 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.
• Market conditions: 41 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 $1k of equity ($346 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $50k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 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 1945 — 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 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: 3.62% ✓
• Cap rate: 33.54%
• Cash-on-cash: 97.30%
• DSCR: 5.33
• GRM: 2.3

CMA / ARV

• ARV (median comp): $206,620
• List price: $50,000
• Delta: -75.80%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
549 Boyd St	0.50mi	5/2.0 (-1)	2,632 (+8%)	23mo	$239,000	$91	38

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: —
• Equity multiple: 6.42×
• Total profit: $75,826
• Equity at exit: $19,828

10-year hold

• IRR: —
• Equity multiple: 13.27×
• Total profit: $171,836
• Equity at exit: $28,636

Cash invested: $14,000 (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 23924

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,808 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$10 /mo · $124/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $1,135

Break-even live

Break-even rent $371

Max offer price $50,000

Occupancy floor 32%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $50,000 Active 215 DOM
2. 2026-06-17
   days on market $50,000 Active 214 DOM
3. 2026-06-16
   days on market $50,000 Active 213 DOM
4. 2026-06-15
   days on market $50,000 Active 212 DOM
5. 2026-06-14
   days on market $50,000 Active 210 DOM
6. 2026-06-13
   days on market $50,000 Active 209 DOM
7. 2026-06-10
   days on market $50,000 Active 207 DOM
8. 2026-06-09
   days on market $50,000 Active 206 DOM
9. 2026-06-08
   days on market $50,000 Active 205 DOM
10. 2026-06-07
    days on market $50,000 Active 204 DOM
11. 2026-06-05
    days on market $50,000 Active 201 DOM
12. 2026-06-03
    days on market $50,000 Active 200 DOM
13. 2026-06-02
    days on market $50,000 Active 199 DOM
14. 2026-06-01
    days on market $50,000 Active 198 DOM
15. 2026-05-31
    days on market $50,000 Active 197 DOM
16. 2026-05-31
    days on market $50,000 Active 196 DOM
17. 2026-01-30
    price $50,000 264-char remark

    Show marketing remark (264 chars)

    Great investment property, this house is ready for renovation. Schedule a showing now!! Purchaser to verify utilities all information in the listing provided by the seller, including accessibility to water, sewer, power, gas, with Chase City or Mecklenburg County.

18. 2025-11-12
    listed $55,000 Active 264-char remark

    Show marketing remark (264 chars)

    Great investment property, this house is ready for renovation. Schedule a showing now!! Purchaser to verify utilities all information in the listing provided by the seller, including accessibility to water, sewer, power, gas, with Chase City or Mecklenburg County.

19. 2022-10-07
    soldstatus $17,000
20. 2014-12-19
    soldstatus $10,000 253-char remark

    Show marketing remark (253 chars)

    2 story convenient to town center. Lots of potential with nice room sizes. Interconnecting rooms on main floor parlor, living room, dining room, den. Entry foyer and large sitting area on upper level. Utility porch and pantry area. Corner lot 100 x 175.

21. 1997-07-17
    soldstatus $30,000

ⓘ 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: $124 · $10/mo
• Projected year-2 tax: $410 · $34/mo
• Expected delta: +$286/yr (+$24/mo · 231.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,700
• − Mortgage interest: −$2,801
• − Property taxes: −$124
• − Insurance: −$250
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$1,455
• Taxable income: $13,599
• Est. tax owed @ 24.0%: −$3,264
• After-tax cash flow: $10,359/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 — 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

• Census place: Chase City, VA
• 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

+66.7% since first listed

5 events — show timeline

• 2026-01-30 Price Changed $50,000 CVRMLS
• 2025-11-12 Listed $55,000 CVRMLS
• 2022-10-07 Sold (Public Records) $17,000 Public Records
• 2014-12-19 Sold (MLS) $10,000 SCAR
• 1997-07-17 Sold (Public Records) $30,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $124 · +0.0% YoY. Source: county tax records.