1006 Madison St · Bedford, VA 24523

$164,500

1 bd · 1.0 ba · 998 sqft · SingleFamily public records · 79 Days on market

Built 1946 $165/sqft · 12% below area Est $195k · 16% under

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Why this score? — see what drove the D 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 +14.6/15.0
• Cash flow +8.3/30.0
• Schools +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located in the Town of Bedford, this 2 bedroom, 1 bath home offers both comfort and functionality. Enjoy a fenced front yard and a spacious backyard, perfect for outdoor activities, entertaining, or pets. Two storage buildings (10x16 and 8x10) and a carport (12x20) convey, providing added value and plenty of space for storage and parking.

Key facts

• Spacious backyard
• Carport
• Fenced front yard

Tags

• FENCED FRONT YARD
• SPACIOUS BACKYARD
• TWO STORAGE BUILDINGS
• CARPORT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $164k.

Deal economics

• At list price, monthly cash flow is $-150 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (16.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (37.7% below list).
• Recommended offer: $102k (37.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.2% in Bedford — 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 74/100 on livability (#137 in VA, #4,371 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment D-.
• Bedford County Public School District (rural): math 55% / reading 73% proficiency, ranked #41 of 131 in VA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bedford Elementary (math 47% / reading 52%, grade D, #742 of 1,108 statewide, top 70%, 431 students, 85% FRL); Liberty Middle (math 49% / reading 67%, grade B, #174 of 342 statewide, top 51%, 535 students, 86% FRL); Liberty High (math 41% / reading 68%, grade C-, #281 of 319 statewide, top 90%, 726 students, 69% FRL) — zoned schools average 80% FRL vs 30% district-wide (50 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 239 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 294 units permitted in Bedford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Bedford County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 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 $125k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,456 (37.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.62% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.90%
• DSCR: 0.83
• GRM: 13.4

CMA / ARV

• ARV (median comp): $195,418
• List price: $164,500
• Delta: -15.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
673 Orange St	0.19mi	2/2.0 (+1)	970 (-3%)	11mo	$197,200	$203	68
713 East Main Street St	0.31mi	2/1.5 (+1)	962 (-4%)	8mo	$93,500	$97	66
1016 Madison St	0.05mi	2/1.5 (+1)	890 (-11%)	17mo	$199,500	$224	59
746 Peaks St	0.73mi	2/1.0 (+1)	1,133 (+14%)	3mo	$165,000	$146	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.9%
• Equity multiple: 0.21×
• Total profit: $-36,288
• Equity at exit: $24,527

10-year hold

• IRR: -17.6%
• Equity multiple: 0.04×
• Total profit: $-44,261
• Equity at exit: $14,223

Cash invested: $46,060 (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 24523

• Home prices YoY: -31.0%
• Active inventory: 239
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $1,025 high
• Mortgage (P&I): −$863
• Tax from tax record: −$28 /mo · $336/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $-150

Break-even live

Break-even rent $1,214

Max offer price $138,045

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-103	+0% $-150	+5% $-384	+10% $-441
Rent	-10% $-231	-5% $-190	+0% $-150	+5% $-109	+10% $-69
Rate	-1.0pp $-67	-0.5pp $-108	base $-150	+0.5pp $-192	+1.0pp $-236

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: $41,125
• Closing costs: $4,935
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 Railroad Ave Unit 219 Bedford, VA	1.0	1.0	823	$975	$1.18	15d	1	0.15mi
620 Railroad Ave Unit 211 Bedford, VA	2.0	1.0	967	$1,225	$1.27	23d	1	0.15mi
620 Railroad Ave Unit 215 Bedford, VA	1.0	1.0	649	$920	$1.42	15d	1	0.15mi
620 Railroad Ave Apt 107 Bedford, VA	1.0	1.0	620	$875	$1.41	15d	1	0.15mi
620 Railroad Ave Unit 312 Bedford, VA	1.0	1.0	724	$950	$1.31	15d	1	0.15mi
412 Jackson St Unit BD105 Bedford, VA	1.0	1.0	721	$990	$1.37	23d	1	0.23mi
412 Jackson St Unit BD107 Bedford, VA	1.0	1.0	712	$1,075	$1.51	15d	1	0.23mi
412 Jackson St Unit BD106 Bedford, VA	1.0	1.0	756	$1,125	$1.49	23d	1	0.28mi
412 Jackson St Unit BD203 Bedford, VA	1.0	1.0	610	$995	$1.63	45d	1	0.28mi
503 Longwood Ave Bedford, VA	1.0	1.0	606	$1,095	$1.81	15d	17	0.39mi
1018 Piedmont St Unit A Bedford, VA	2.0	1.0	630	$850	$1.35	23d	1	0.59mi
603 2nd St Unit 6 Bedford, VA	2.0	1.0	925	$1,300	$1.41	23d	1	0.61mi
704 Blue Ridge Ave Unit 1 Bedford, VA	2.0	1.5	810	$945	$1.17	15d	1	1.19mi
704 Blue Ridge Ave Apt 5 Bedford, VA	1.0	1.0	540	$900	$1.67	15d	1	1.19mi
704 Blue Ridge Ave Bedford, VA	1.0	1.0	540	$875	$1.62	15d	1	1.19mi
802 Jeter St Unit 802-B Bedford, VA	2.0	1.0	770	$995	$1.29	45d	1	1.20mi

Listing history 25 events

1. 2026-06-22
   days on market $164,500 Active 79 DOM
2. 2026-06-19
   days on market $164,500 Active 77 DOM
3. 2026-06-18
   days on market $164,500 Active 76 DOM
4. 2026-06-17
   days on market $164,500 Active 75 DOM
5. 2026-06-16
   days on market $164,500 Active 74 DOM
6. 2026-06-15
   days on market $164,500 Active 73 DOM
7. 2026-06-14
   days on market $164,500 Active 71 DOM
8. 2026-06-13
   days on market $164,500 Active 70 DOM
9. 2026-06-10
   days on market $164,500 Active 68 DOM
10. 2026-06-09
    days on market $164,500 Active 67 DOM
11. 2026-06-08
    days on market $164,500 Active 66 DOM
12. 2026-06-07
    days on market $164,500 Active 65 DOM
13. 2026-06-05
    days on market $164,500 Active 62 DOM
14. 2026-06-03
    days on market $164,500 Active 61 DOM
15. 2026-06-02
    days on market $164,500 Active 60 DOM
16. 2026-06-01
    days on market $164,500 Active 59 DOM
17. 2026-05-31
    days on market $164,500 Active 58 DOM
18. 2026-05-30
    days on market $164,500 Active 57 DOM
19. 2026-04-03
    listed $164,500 Active 353-char remark

    Show marketing remark (353 chars)

    Conveniently located in the Town of Bedford, this 2 bedroom, 1 bath home offers both comfort and functionality. Enjoy a fenced front yard and a spacious backyard, perfect for outdoor activities, entertaining, or pets. Two storage buildings (10x16 and 8x10) and a carport (12x20) convey, providing added value and plenty of space for storage and parking.

20. 2022-06-10
    soldstatus $125,000 Closed 554-char remark

    Show marketing remark (554 chars)

    Great Home for a first time buyer! This two bedroom one bath home boasts hardwood floors and freshly painted bedrooms and living room. Move in with peace of mind knowing the shingle roof is only 5 years old. HVAC has been serviced annually with current owners. Replacement windows throughout the house. Twice Blooming rose bushes dot the front and back of the house. Cute Storage shed and detached carport will convey! A short walk to Beales Brewery and conveniently located between Lynchburg and Roanoke. Make your appointment to preview while it lasts!

21. 2022-04-22
    status Pending 554-char remark

    Show marketing remark (554 chars)

    Great Home for a first time buyer! This two bedroom one bath home boasts hardwood floors and freshly painted bedrooms and living room. Move in with peace of mind knowing the shingle roof is only 5 years old. HVAC has been serviced annually with current owners. Replacement windows throughout the house. Twice Blooming rose bushes dot the front and back of the house. Cute Storage shed and detached carport will convey! A short walk to Beales Brewery and conveniently located between Lynchburg and Roanoke. Make your appointment to preview while it lasts!

22. 2022-04-19
    listed $119,900 Active 554-char remark

    Show marketing remark (554 chars)

    Great Home for a first time buyer! This two bedroom one bath home boasts hardwood floors and freshly painted bedrooms and living room. Move in with peace of mind knowing the shingle roof is only 5 years old. HVAC has been serviced annually with current owners. Replacement windows throughout the house. Twice Blooming rose bushes dot the front and back of the house. Cute Storage shed and detached carport will convey! A short walk to Beales Brewery and conveniently located between Lynchburg and Roanoke. Make your appointment to preview while it lasts!

23. 2018-01-16
    soldstatus $54,500
24. 2018-01-16
    soldstatus $54,500
25. 2017-07-06
    listed $59,000

ⓘ 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: $336 · $28/mo
• Projected year-2 tax: $1,349 · $112/mo
• Expected delta: +$1,013/yr (+$84/mo · 302.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,295
• − Mortgage interest: −$9,215
• − Property taxes: −$336
• − Insurance: −$822
• − Repairs & maintenance: −$984
• − Management: −$984
• − Depreciation: −$4,785
• Taxable loss: −$4,830
• Est. tax savings @ 24.0%: +$1,159
• After-tax cash flow: $-638/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: Bedford County Public School District
• NCES district ID: 5100360
• Math proficiency: 55% ▼ -29.00%
• Reading proficiency: 73% ▼ -7.00%
• Median HH income: $56,288
• Composite: 54.92/100
• National rank: #1310
• State rank: #41 of 131 in VA

Livability — Bedford

• Score: 74/100
• State rank: #137
• US rank: #4371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, VA
• City population: 21,447
• Population (ZIP): 21,447

Population outlook (Bedford County) Hauer SSP2

• Today (2025): 83,194 people
• By 2030: 85,499 · +2.8%
• By 2040: 88,834 · +6.8%
• By 2050: 90,060 · +8.3%
• By 2075: 94,131 · +13.1%
• By 2100: 89,832 · +8.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 10% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Romanian 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 1% Other Asian/Pacific 0%

Political lean MEDSL · Bedford

• 2024 margin: Solid R (+50.4) · D 24.4% · R 74.8%
• 2008→2024 swing: -13.0pp toward R · 2008: -37.4pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+48.1 2016: R+49.4 2012: R+45.0 2008: R+37.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.68%
• Current HPI: 263.7765
• 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

+178.8% since first listed

7 events — show timeline

• 2026-04-03 Listed $164,500 MLSRV
• 2022-06-10 Sold (MLS) $125,000 LMLS
• 2022-04-22 Pending — LMLS
• 2022-04-19 Listed $119,900 LMLS
• 2018-01-16 Sold (Public Records) $54,500 Public Records
• 2018-01-16 Sold (MLS) $54,500 LMLS
• 2017-07-06 Listed $59,000 LMLS

Property tax history

+1.0%/yr

Latest (2021): $336 · +0.0% YoY. Source: county tax records.