2350 Chelsea Rd · West Point, VA 23181

$175,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 6 Days on market

Built 1940 Poor condition 4.82 ac lot Est $295k · 41% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +6.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with 4.82 acres in West Point! Close to Mattaponi River! Walkable to West Point Schools, and just two minutes to Riverwalk Park! This 3-bedroom home is being sold strictly AS-IS and needs significant renovation, making it a great opportunity for investors, flippers, or buyers looking for a project with so much potential. Inside you will find beautiful hardwood floors in most rooms! Kitchen with vintage stove, and a separate laundry room! Outside there is a detached garage with workshop, and two other sheds! Situated on a spacious and private lot, the property offers plenty of room to reimagine, expand, or restore. Conveniently located just minutes from downtown West Point

Key facts

• 4.82 acres
• Vintage stove
• 4.82 acre lot

Tags

• 4.82 ACRES
• CLOSE TO MATTAPONI RIVER
• WALKABLE TO WEST POINT SCHOOLS
• TWO MINUTES TO RIVERWALK PARK
• VINTAGE STOVE
• DETACHED GARAGE WITH WORKSHOP

Property features AI

Exterior

• Parking: Detached garage; Driveway; Off-street parking; Unpaved parking
• Utilities: Well water; Septic tank
• Home design: Single-story; Resale property; Facing: unspecified
• Construction: Metal roof; Brick, plaster, vinyl siding and wood siding exterior; Crawl space foundation; Built (actual year not specified)
• Exterior features: Outbuilding(s); Storage; Shed; Front screened porch; Unpaved driveway; Corner lot; Level topography

Interior

• Kitchen: Electric cooking; Oven; Stove; Refrigerator; Pantry; Eat-in kitchen
• Bedrooms: Main level bedroom
• Flooring: Partially carpeted; Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Forced air; Floor furnace; Has heating
• Interior features: Bedroom on main level; Ceiling fans; Eat-in kitchen; Pantry; Paneling / wainscoting
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 11.3% vs local median 3.4% in West Point — 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 76/100 on livability (#111 in VA, #3,458 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• West Point Public School District (town): math 63% / reading 80% proficiency, ranked #17 of 131 in VA (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 62 active listings in the ZIP; 129 units permitted in King William 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $135k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 59% 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 $175,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.27% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.85%
• DSCR: 1.79
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $295,176
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 Ogden St	0.61mi	3/2.5	1,200 (+2%)	1mo	$300,950	$251	61
332 Ogden St	0.61mi	3/2.5	1,200 (+2%)	1mo	$295,000	$246	61
314 Ogden St	0.64mi	3/2.5	1,200 (+2%)	1mo	$303,000	$253	60
260 Thompson Ave	0.65mi	4/2.0 (+1)	1,263 (+7%)	15mo	$240,000	$190	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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-8,912
• Equity at exit: $26,093

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $17,786
• Equity at exit: $15,131

Cash invested: $49,000 (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 23181

• Home prices YoY: -29.9%
• Active inventory: 62
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,221 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$35 /mo · $422/yr
• Insurance: −$73
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $302

Break-even live

Break-even rent $1,838

Max offer price $175,000

Occupancy floor 81%

Sensitivity live

Price	-10% $402	-5% $352	+0% $302	+5% $253	+10% $203
Rent	-10% $127	-5% $215	+0% $302	+5% $390	+10% $478
Rate	-1.0pp $391	-0.5pp $347	base $302	+0.5pp $257	+1.0pp $211

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-21
   listed $175,000 Active
2. 2023-09-01
   soldstatus $135,000
3. 2019-07-11
   soldstatus $145,000

ⓘ 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: $422 · $35/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$1,013/yr (+$84/mo · 240.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 67% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $26,654
• − Mortgage interest: −$9,803
• − Property taxes: −$422
• − Insurance: −$5,994
• − Repairs & maintenance: −$2,132
• − Management: −$2,132
• − Depreciation: −$5,091
• Taxable income: $1,081
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $3,370/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 · 1 photo

Poor 30/100 Extensive rehab

This 3-bedroom home in West Point, VA, requires extensive renovation and updates to bring it up to current standards and increase its value.

Repairs flagged

• Major Painting — Exterior siding appears aged
• Major Siding replacement — Exterior siding appears aged
• Major Kitchen update — Vintage stove, no updates
• Major Bathroom update — No updates
• Major Landscaping — Overgrown yard

Value-add opportunities

• Both Painting and updating exterior siding — Improves curb appeal and value
• Both Kitchen and bathroom updates — Modernizes the home and increases value
• Both Landscaping and yard maintenance — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting · Exterior siding appears aged	Major	$15,000–50,000
Siding replacement · Exterior siding appears aged	Major	$15,000–50,000
Kitchen update · Vintage stove, no updates	Major	$15,000–50,000
Bathroom update · No updates	Major	$15,000–50,000
Landscaping · Overgrown yard	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Painting and updating exterior siding — Improves curb appeal and value ↑
• Both Kitchen and bathroom updates — Modernizes the home and increases value ↑
• Both Landscaping and yard maintenance — Enhances curb appeal and value ↑

ⓘ 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: West Point Public School District
• NCES district ID: 5103950
• Math proficiency: 63% ▼ -30.00%
• Reading proficiency: 80% ▼ -12.00%
• Median HH income: $59,177
• Composite: 61.42/100
• National rank: #761
• State rank: #17 of 131 in VA

Livability — West Point

• Score: 76/100
• State rank: #111
• US rank: #3458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Point, VA
• Population (ZIP): 5,386

Population outlook (King William County) Hauer SSP2

• Today (2025): 16,840 people
• By 2030: 16,990 · +0.9%
• By 2040: 16,965 · +0.7%
• By 2050: 16,483 · -2.1%
• By 2075: 15,292 · -9.2%
• By 2100: 12,764 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 8% Hispanic / Latino 5% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · King William

• 2024 margin: Solid R (+40.6) · D 29.3% · R 69.9%
• 2008→2024 swing: -21.2pp toward R · 2008: -19.3pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+37.8 2016: R+35.3 2012: R+23.9 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.32%
• Current HPI: 179.2453
• 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

+20.7% since first listed

3 events — show timeline

• 2026-05-21 Listed $175,000 CVRMLS
• 2023-09-01 Sold (Public Records) $135,000 Public Records
• 2019-07-11 Sold (Public Records) $145,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $422 · +13.0% YoY. Source: county tax records.