53 Leedstown Rd · Lancaster, VA 22503

$114,900

2 bd · 1.0 ba · 768 sqft · SingleFamily · 70 Days on market

Built 2003 Fair condition 2.06 ac lot

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +3.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for peaceful country living? Welcome to Lancaster County, VA! This charming ranch-style home sits on approximately 2.06 acres, offering space, privacy, and the quiet setting many buyers are searching for. The home features 2 bedrooms, 1 bath, and a comfortable great room, providing a simple layout ready for your personal touches. A detached storage shed offers additional space for tools or outdoor equipment. Property is being sold as-is, where-is, with the seller making no repairs or inspections. Priced with potential in mind and ideal for buyers considering a 203(k) renovation loan to update and make it their own. Don't miss this opportunity to create your country retreat — s

Key facts

• Great room
• 2.06 acre lot
• Built 2003

Tags

• DETACHED STORAGE SHED
• APPROXIMATELY 2.06 ACRES
• GREAT ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 1.0% in Lancaster — 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 58/100 on livability (#489 in VA) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, crime A, cost of living A; Watch: amenities F, commute F, employment F.
• Lancaster County Public School District (rural): math 27% / reading 49% proficiency, ranked #125 of 131 in VA (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 117 active listings in the ZIP; 127 units permitted in Lancaster County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lancaster County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.12% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.41%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-4,232
• Equity at exit: $17,132

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $14,893
• Equity at exit: $9,934

Cash invested: $32,172 (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 22503

• Home prices YoY: -6.7%
• Active inventory: 117
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,291 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $226

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 78%

Sensitivity live

Price	-10% $305	-5% $265	+0% $226	+5% $186	+10% $146
Rent	-10% $124	-5% $175	+0% $226	+5% $277	+10% $328
Rate	-1.0pp $283	-0.5pp $255	base $226	+0.5pp $196	+1.0pp $166

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $114,900 Active 70 DOM
2. 2026-06-21
   days on market $114,900 Active 69 DOM
3. 2026-06-18
   days on market $114,900 Active 67 DOM
4. 2026-06-17
   days on market $114,900 Active 66 DOM
5. 2026-06-16
   days on market $114,900 Active 65 DOM
6. 2026-06-15
   days on market $114,900 Active 64 DOM
7. 2026-06-15
   days on market $114,900 Active 63 DOM
8. 2026-06-13
   days on market $114,900 Active 62 DOM
9. 2026-06-12
   days on market $114,900 Active 61 DOM
10. 2026-06-09
    days on market $114,900 Active 58 DOM
11. 2026-06-08
    days on market $114,900 Active 57 DOM
12. 2026-06-08
    days on market $114,900 Active 56 DOM
13. 2026-06-05
    days on market $114,900 Active 54 DOM
14. 2026-06-03
    statusdays on market $114,900 Active 52 DOM
15. 2026-04-25
    status Pending
16. 2026-03-05
    listed $114,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,488
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$3,343
• Taxable income: $933
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $2,483/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 · 13 photos

Fair 45/100 Moderate rehab

This home requires significant repairs and maintenance, including painting, roof repair, and HVAC upgrades. However, with these improvements, it has the potential to become a move-in-ready property with increased value.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The siding is peeling and the paint is chipping, indicating a need for repainting and possibly repainting.
• Major flooring — The flooring in the interior appears to be carpeted and in poor condition, with visible wear and tear.
• Major interior walls — The interior walls and paint appear to be in poor condition, with visible wear and tear.
• Major landscaping — The landscaping and fencing appear to be in poor condition, with overgrown grass and a lack of maintenance.
• Major HVAC unit — The HVAC unit appears to be in poor condition, with visible rust and wear.

Value-add opportunities

• Both painting the exterior and interior — Painting the exterior and interior can improve the home's curb appeal and interior condition, making it more attractive to potential buyers and renters.
• Both repairing the roof — Repairing the roof can improve the home's structural integrity and make it more attractive to potential buyers and renters.
• Both upgrading the HVAC unit — Upgrading the HVAC unit can improve the home's comfort and energy efficiency, making it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The siding is peeling and the paint is chipping, indicating a need for repainting and possibly repainting.	Major	$15,000–50,000
flooring · The flooring in the interior appears to be carpeted and in poor condition, with visible wear and tear.	Major	$15,000–50,000
interior walls · The interior walls and paint appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
landscaping · The landscaping and fencing appear to be in poor condition, with overgrown grass and a lack of maintenance.	Major	$15,000–50,000
HVAC unit · The HVAC unit appears to be in poor condition, with visible rust and wear.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both painting the exterior and interior — Painting the exterior and interior can improve the home's curb appeal and interior condition, making it more attractive to potential buyers and renters. ↑
• Both repairing the roof — Repairing the roof can improve the home's structural integrity and make it more attractive to potential buyers and renters. ↑
• Both upgrading the HVAC unit — Upgrading the HVAC unit can improve the home's comfort and energy efficiency, making it more attractive to potential buyers and renters. ↑

ⓘ 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: Lancaster County Public School District
• NCES district ID: 5102160
• Math proficiency: 27% ▼ -44.00%
• Reading proficiency: 49% ▼ -20.00%
• Median HH income: $48,210
• Composite: 32.58/100
• National rank: #5680
• State rank: #125 of 131 in VA

Livability — Lancaster

• Score: 58/100
• State rank: #489
• US rank: #21544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,046

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 9,870 people
• By 2030: 9,172 · -7.1%
• By 2040: 7,719 · -21.8%
• By 2050: 6,551 · -33.6%
• By 2075: 5,110 · -48.2%
• By 2100: 3,884 · -60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 35% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada, China, Jamaica
• Languages at home: 97% English-only · Spanish 1% Chinese 1%

Political lean MEDSL · Lancaster

• 2024 margin: Lean R (+7.0) · D 46.1% · R 53.1%
• 2008→2024 swing: -1.1pp toward R · 2008: -5.9pp · 2024: -7.0pp
• All cycles: 2024: R+7.0 2020: R+4.6 2016: R+10.0 2012: R+8.6 2008: R+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.39%
• Current HPI: 271.6442
• 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

2 events — show timeline

• 2026-04-25 Pending — NNAR
• 2026-03-05 Listed $114,900 NNAR