726 E Gladstone Ave · Richmond, VA 23222

$194,900

2 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 38 Days on market

Built 1924 3,001 sqft lot $177/sqft · 30% below area Est $279k · 30% under

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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 +16.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• 1% rule +3.5/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The property's prime location and inherent customization potential position it as an exceptional investment opportunity. Investors can leverage the area's robust rental demand or the flourishing real estate market to generate substantial returns. Whether you're looking to grow your rental portfolio or flip the property for profit, this home offers an unparalleled opportunity to capitalize on Richmond's vibrant housing market. Don't miss out on the chance to acquire this remarkable property, perfectly poised to propel your investment portfolio to new heights.

Key facts

• 3,001 sq ft lot
• Built 1924
• Listed 38 days

Property features AI

Exterior

• Parking: No garage; on-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Two-story home; Attached property; Shingle roof; Frame construction with drywall and vinyl siding; Zoned R-5
• Construction: Built (actual year recorded); Frame construction; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Porch and stoop; Outdoor lighting; Storage; Partially fenced backyard with wood fencing

Interior

• Kitchen: Dishwasher; Electric cooking (stove/oven); Microwave; Range hood; Exhaust fan
• Bedrooms: Bedroom 2 on the first floor; Bedroom 3 on the second floor; Additional room on the second floor
• Flooring: Wood flooring
• Bathrooms: One full bathroom with tub and shower (located on the second floor)
• Heating & cooling: Electric heating; Heat pump cooling; Central electric cooling
• Interior features: Ceiling fans; Dining area; High-speed internet; Laminate counters; Wired for data
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (14.8% below list).
• Recommended offer: $166k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.2% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Richmond City Public School District (urban): math 32% / reading 47% proficiency, ranked #123 of 131 in VA (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.4%/yr); 184 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 32% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Richmond County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y 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 $66k; list at $195k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• 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 $166,118 (14.8% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.85% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.44%
• DSCR: 1.11
• GRM: 9.8

CMA / ARV

• ARV (median comp): $278,828
• List price: $194,900
• Delta: -30.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 Pollock St	0.14mi	3/1.5 (+1)	1,122 (+2%)	2mo	$285,000	$254	82
613 Pollock St	0.14mi	2/1.0	990 (-10%)	1mo	$145,500	$147	76
611 Pollock St	0.15mi	2/1.0	1,254 (+14%)	0mo	$280,000	$223	70
1511 Custer St	0.59mi	2/1.5	1,106 (+0%)	1mo	$260,000	$235	69
2910 3rd Ave	0.46mi	3/1.0 (+1)	1,186 (+8%)	0mo	$255,000	$215	60
3226 Cliff Ave	0.41mi	3/1.0 (+1)	1,194 (+8%)	3mo	$156,000	$131	59
3116 5th Ave	0.59mi	2/1.5	1,032 (-6%)	3mo	$268,000	$260	58
504 Arnold Ave	0.27mi	3/2.5 (+1)	1,254 (+14%)	2mo	$340,000	$271	52
3409 2nd Ave	0.42mi	3/2.0 (+1)	980 (-11%)	2mo	$187,500	$191	51
326 Hunt Ave	0.57mi	2/1.0	940 (-14%)	0mo	$249,950	$266	49
3313 Waverly Blvd	0.58mi	3/2.5 (+1)	1,200 (+9%)	2mo	$309,900	$258	45
3407 Garland Ave	0.72mi	2/1.0	1,242 (+13%)	2mo	$301,500	$243	43

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 · 7.43% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.69×
• Total profit: $-16,839
• Equity at exit: $29,060

10-year hold

• IRR: 6.0%
• Equity multiple: 1.53×
• Total profit: $28,965
• Equity at exit: $16,851

Cash invested: $54,572 (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 23222

• Rents YoY: 7.4%
• Active inventory: 184
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,661 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$98 /mo · $1,176/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $111

Break-even live

Break-even rent $1,521

Max offer price $194,900

Occupancy floor 88%

Sensitivity live

Price	-10% $221	-5% $166	+0% $111	+5% $56	+10% $1
Rent	-10% $-20	-5% $45	+0% $111	+5% $177	+10% $242
Rate	-1.0pp $209	-0.5pp $161	base $111	+0.5pp $61	+1.0pp $9

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3117 Meadowbridge Rd Richmond, VA	2.0	1.0	887	$1,225	$1.38	44d	1	0.07mi
622 Pollock St Richmond, VA	3.0	1.5	1122	$2,300	$2.05	24d	1	0.13mi
3202 1st Ave Richmond, VA	3.0	2.5	1440	$2,062	$1.43	22d	1	0.23mi
3418 Carolina Ave Unit A Richmond, VA	2.0	1.0	1000	$1,524	$1.52	44d	1	0.27mi
3425 Carolina Ave Unit A Richmond, VA	3.0	1.0	1300	$1,400	$1.08	44d	1	0.29mi
3425 Carolina Ave Unit B Richmond, VA	3.0	1.0	1300	$1,400	$1.08	24d	1	0.30mi
3501 Meadowbridge Rd Richmond, VA	3.0	1.0	1383	$1,495	$1.08	21d	1	0.38mi
3501 Meadowbridge Rd Richmond, VA	3.0	1.0	1383	$1,495	$1.08	24d	1	0.38mi
3303 Branch Ave Richmond, VA	3.0	1.0	800	$1,300	$1.62	44d	1	0.39mi
3209 3rd Ave Unit A Richmond, VA	1.0	1.0	948	$995	$1.05	3d	1	0.40mi
3103 Dill Ave Richmond, VA	3.0	1.5	1380	$2,050	$1.49	24d	1	0.48mi
2810 2nd Ave Richmond, VA	2.0	1.0	1120	$1,950	$1.74	44d	1	0.49mi
3621 Enslow Ave Richmond, VA	2.0	1.5	1232	$2,850	$2.31	24d	1	0.50mi
2919 4th Ave #2 Richmond, VA	2.0	2.0	950	$1,287	$1.35	44d	1	0.53mi
3119 4th Ave Richmond, VA	2.0	1.0	820	$1,225	$1.49	18d	1	0.56mi
3317 Waverly Blvd Unit B Richmond, VA	3.0	2.0	1500	$1,875	$1.25	18d	1	0.57mi
401 Winston St Richmond, VA	2.0	1.0	784	$1,250	$1.59	2d	15	0.64mi
3909 Patrick Ave Richmond, VA	3.0	1.5	1200	$2,650	$2.21	44d	1	0.65mi
3716 Delmont St Richmond, VA	2.0	2.0	890	$1,122	$1.26	44d	1	0.68mi
1519 Byron St Richmond, VA	3.0	1.5	1384	$1,700	$1.23	4d	1	0.72mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	18d	1	0.85mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	4d	1	0.85mi
2420 Barton Ave Apt 2 Richmond, VA	2.0	1.0	900	$1,150	$1.28	24d	1	0.90mi
2416 Barton Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,150	$1.15	44d	1	0.92mi
3811 Larry St Richmond, VA	3.0	1.0	840	$1,695	$2.02	24d	1	0.93mi
3811 Larry St Richmond, VA	3.0	1.0	840	$1,695	$2.02	21d	1	0.93mi
3800 North Ave Richmond, VA	3.0	1.0	1008	$1,650	$1.64	12d	1	0.94mi
2400 Barton Ave Richmond, VA	2.0	1.0	813	$1,245	$1.53	5d	2	0.96mi
2807 Edgewood Ave Richmond, VA	3.0	1.0	1320	$1,750	$1.33	44d	1	1.04mi
4008 Wilmont Dr Richmond, VA	3.0	1.0	1040	$2,095	$2.01	24d	1	1.07mi
2000 Lamb Ave Apt C Richmond, VA	2.0	1.0	750	$1,295	$1.73	44d	1	1.17mi
2922 Noble Ave Unit A Richmond, VA	2.0	1.0	1200	$1,499	$1.25	5d	1	1.19mi
200 Minor St Unit A Richmond, VA	3.0	1.0	1100	$1,295	$1.18	24d	1	1.21mi
1910 North Ave Richmond, VA	3.0	1.0	1010	$1,595	$1.58	11d	1	1.23mi
3600 Moss Side Ave Unit B Richmond, VA	2.0	1.0	800	$2,195	$2.74	44d	1	1.23mi
1801 Monteiro Ave Unit 1 Richmond, VA	2.0	2.0	1500	$1,550	$1.03	5d	1	1.24mi
2806 Hawthorne Ave Unit 1 Richmond, VA	2.0	1.0	1144	$1,400	$1.22	44d	1	1.25mi
207 Welford St Richmond, VA	3.0	1.5	1348	$1,850	$1.37	24d	1	1.27mi
3607 Harris Ave Richmond, VA	3.0	1.0	992	$1,750	$1.76	24d	1	1.36mi
3012 Chamberlayne Ave Unit 105 Richmond, VA	1.0	1.0	700	$895	$1.28	24d	1	1.38mi

Listing history 33 events

1. 2026-06-21
   days on market $194,900 Active 38 DOM
2. 2026-06-18
   days on market $194,900 Active 35 DOM
3. 2026-06-17
   days on market $194,900 Active 34 DOM
4. 2026-06-16
   days on market $194,900 Active 33 DOM
5. 2026-06-15
   days on market $194,900 Active 32 DOM
6. 2026-06-13
   days on market $194,900 Active 30 DOM
7. 2026-06-10
   days on market $194,900 Active 27 DOM
8. 2026-06-09
   days on market $194,900 Active 26 DOM
9. 2026-06-08
   days on market $194,900 Active 25 DOM
10. 2026-06-07
    pricedays on market $194,900 Active 24 DOM
11. 2026-06-03
    days on market $199,900 Active 20 DOM
12. 2026-06-02
    days on market $199,900 Active 19 DOM
13. 2026-06-01
    days on market $199,900 Active 18 DOM
14. 2026-05-31
    days on market $199,900 Active 17 DOM
15. 2026-05-13
    listed $199,900 Active 564-char remark
16. 2026-01-12
    historical
17. 2025-12-12
    status Active
18. 2025-11-03
    status Pending
19. 2025-08-12
    listed $199,950 Active
20. 2018-01-09
    soldstatus $66,000
21. 2017-12-17
    status Pending
22. 2017-12-15
    historical
23. 2017-11-29
    listed $75,000 Active
24. 2009-09-22
    historical
25. 2008-06-24
    soldstatus $99,600
26. 2005-09-09
    historical
27. 2005-09-09
    historical
28. 2005-03-18
    listed $64,950
29. 2005-03-18
    listed $64,950
30. 2005-02-24
    historical
31. 2004-08-28
    listed $79,500
32. 2004-08-28
    listed $79,500
33. 1972-05-08
    soldstatus $8,000

ⓘ 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: $1,176 · $98/mo
• Projected year-2 tax: $1,598 · $133/mo
• Expected delta: +$422/yr (+$35/mo · 35.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,934
• − Mortgage interest: −$10,917
• − Property taxes: −$1,176
• − Insurance: −$974
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$5,670
• Taxable loss: −$1,993
• Est. tax savings @ 24.0%: +$478
• After-tax cash flow: $1,811/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: Richmond City Public School District
• NCES district ID: 5103240
• Math proficiency: 32% ▼ -24.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $40,276
• Composite: 33.09/100
• National rank: #5564
• State rank: #123 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, VA
• County: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 26,322
• Household income: $61,345
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1325.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 262,263 people
• By 2030: 284,503 · +8.5%
• By 2040: 327,353 · +24.8%
• By 2050: 367,946 · +40.3%
• By 2075: 449,560 · +71.4%
• By 2100: 500,301 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 21% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+66.3) · D 82.0% · R 15.8% · Other 2.2%
• 2008→2024 swing: +7.2pp toward D · 2008: 59.1pp · 2024: 66.3pp
• All cycles: 2024: D+66.3 2020: D+68.0 2016: D+63.8 2012: D+55.7 2008: D+59.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -288.72%
• Current HPI: 428.4029
• Rent YoY: ▲ 7.43%
• Metro: Richmond, VA
• 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

+2336.2% since first listed

21 events — show timeline

• 2026-06-04 Price Changed $194,900 CVRMLS
• 2026-05-27 Relisted — CVRMLS
• 2026-05-13 Listed $199,900 CVRMLS
• 2026-01-12 Listing Removed — CVRMLS
• 2025-12-12 Relisted — CVRMLS
• 2025-11-03 Pending — CVRMLS
• 2025-08-12 Listed $199,950 CVRMLS
• 2018-01-09 Sold (Public Records) $66,000 Public Records
• 2017-12-17 Pending — CVRMLS
• 2017-12-15 Listing Removed — CVRMLS
• 2017-11-29 Listed $75,000 CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2008-06-24 Sold (Public Records) $99,600 Public Records
• 2005-09-09 Listing Removed — CVRMLS
• 2005-09-09 Listing Removed — CVRMLS
• 2005-03-18 Listed $64,950 CVRMLS
• 2005-03-18 Listed $64,950 CVRMLS
• 2005-02-24 Listing Removed — CVRMLS
• 2004-08-28 Listed $79,500 CVRMLS
• 2004-08-28 Listed $79,500 CVRMLS
• 1972-05-08 Sold (Public Records) $8,000 Public Records

Property tax history

+2.6%/yr

Latest (2022): $1,176 · +30.7% YoY. Source: county tax records.