1120 Mckenzie St · Petersburg, VA 23803

$145,000

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 12 Days on market

Built 1960 4,033 sqft lot Est $148k · at est.

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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 +16.9/30.0
• ARV discount +8.4/15.0
• Appreciation +5.7/10.0
• DSCR +5.3/10.0
• Rent growth +4.0/5.0
• 1% rule +3.6/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks

Charming recently renovated 2-bedroom, 1-bath cottage/bungalow style home offering a fresh, updated feel with laminate flooring, neutral paint, and natural light throughout. The spacious living area flows into the oversized kitchen featuring gas cooking and plenty of cabinet space. Both bedrooms offer ceiling fans and easy-maintenance flooring. Enjoy the convenience of washer and dryer hookups and a large private backyard perfect for relaxing or entertaining. Conveniently located near shopping, dining, major highways, and Historic Old Towne Petersburg. Move-in ready and full of character! Buyer to confirm appliance utilities. This could be your opportunity to own two side by side. Neighbor

Key facts

• 4,033 sq ft lot
• Built 1960
• Listed 12 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-story property; Resale property
• Construction: Block and drywall construction; Composition roof; Built (year: actual)
• Exterior features: Partial privacy fencing

Interior

• Bedrooms: Main-level bedroom(s)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Forced air heating (natural gas); Central electric air conditioning
• Interior features: Bedroom on main level; Main level primary; Crawl space basement
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $95 ($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 $125k (13.8% below list).
• Recommended offer: $125k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.5% in Petersburg — 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 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 290 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 5.9% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $16k; list at $145k implies a 812% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 42% 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 $125,061 (13.8% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.13
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $148,000
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1217 Mckenzie St	0.13mi	2/1.0	720 (-10%)	5mo	$154,500	$215	74
1156 W Wythe St	0.37mi	2/1.0	784 (-2%)	13mo	$145,000	$185	68
807 Mckenzie St	0.33mi	3/1.0 (+1)	864 (+8%)	0mo	$175,000	$203	66
414 Bluefield St	0.09mi	2/1.0	866 (+8%)	22mo	$146,950	$170	64
509 N Dunlop St	0.24mi	2/1.5	720 (-10%)	9mo	$125,000	$174	63
917 Lee Ave	0.73mi	2/1.0	768 (-4%)	4mo	$80,000	$104	56
1015 Lee Ave	0.72mi	3/1.0 (+1)	792 (-1%)	9mo	$167,500	$211	53
520 Pegram St	0.67mi	2/1.0	893 (+12%)	1mo	$165,000	$185	48
426 S South St	0.69mi	3/1.0 (+1)	768 (-4%)	11mo	$160,000	$208	47
505 S Dunlop St	0.67mi	2/1.0	840 (+5%)	22mo	$111,300	$133	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.39×
• Total profit: $15,679
• Equity at exit: $52,916

10-year hold

• IRR: 12.5%
• Equity multiple: 2.69×
• Total profit: $68,816
• Equity at exit: $73,042

Cash invested: $40,600 (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 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 290
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,251 high
• Mortgage (P&I): −$760
• Tax from tax record: −$72 /mo · $864/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $95

Break-even live

Break-even rent $1,130

Max offer price $145,000

Occupancy floor 87%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 N Dunlop St Unit 211 Petersburg, VA	1.0	1.0	667	$1,199	$1.80	43d	1	0.25mi
214 N Dunlop St Unit 400 Petersburg, VA	2.0	2.0	892	$1,500	$1.68	43d	1	0.25mi
301 N Dunlop St Petersburg, VA	1.0	1.0	638	$1,112	$1.74	19d	2	0.27mi
301 N Dunlop St Petersburg, VA	1.0	1.0	609	$998	$1.64	1d	5	0.27mi
214 N Dunlop St Unit 115 Petersburg, VA	1.0	1.0	667	$1,235	$1.85	23d	1	0.29mi
214 N Dunlop St Unit 302 Petersburg, VA	1.0	1.0	630	$1,099	$1.74	43d	1	0.29mi
214 N Dunlop St Petersburg, VA	1.0	1.0	667	$1,210	$1.81	19d	3	0.29mi
214 N Dunlop St Unit 404 Petersburg, VA	2.0	2.0	863	$1,400	$1.62	43d	1	0.29mi
214 N Dunlop St Apt 305 Petersburg, VA	2.0	2.0	945	$1,350	$1.43	44d	1	0.29mi
214 N Dunlop St Unit 119 Petersburg, VA	2.0	2.0	988	$1,399	$1.42	43d	1	0.29mi
214 N Dunlop St Petersburg, VA	1.0–2.0	1.0–2.0	799	$1,395	$1.74	1d	11	0.29mi
214 N Dunlop St Unit 103 Petersburg, VA	1.0	1.0	632	$1,049	$1.66	23d	1	0.29mi
3301 Main St Unit A South Chesterfield, VA	2.0	1.0	990	$1,150	$1.16	1d	1	0.41mi
714 High St Apt E Petersburg, VA	2.0	2.0	924	$1,300	$1.41	21d	1	0.42mi
712 High St Unit 3 Petersburg, VA	1.0	1.0	539	$999	$1.85	43d	1	0.42mi
712 High St Unit 9 Petersburg, VA	1.0	1.0	670	$1,100	$1.64	43d	1	0.42mi
21512 Jackson St South Chesterfield, VA	1.0	1.0	1010	$1,150	$1.14	43d	1	0.42mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	834	$1,399	$1.68	19d	2	0.43mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	745	$1,395	$1.87	1d	8	0.43mi
3716 Totty St South Chesterfield, VA	3.0	1.0	1092	$1,700	$1.56	43d	1	0.51mi
212 S Dunlop St Petersburg, VA	2.0	1.0	700	$1,250	$1.79	43d	1	0.52mi
647 W Washington St Petersburg, VA	1.0	1.0	595	$595	$1.00	15d	1	0.52mi
929 Farmer St Petersburg, VA	2.0	1.0	850	$895	$1.05	23d	1	0.53mi
408 S West St Petersburg, VA	2.0	1.0	900	$1,095	$1.22	21d	1	0.60mi
1121 Stainback St Unit 2108 Petersburg, VA	2.0	1.0	800	$995	$1.24	23d	1	0.62mi
1121 Stainback St Unit 5202 Petersburg, VA	2.0	1.0	800	$995	$1.24	43d	1	0.62mi
1111 Stainback St Apt 2 Petersburg, VA	2.0	1.0	750	$895	$1.19	43d	1	0.62mi
109 Perry St Petersburg, VA	1.0–2.0	1.0–2.0	787	$1,577	$2.00	1d	15	0.87mi
20900 Riverterrace Rd Petersburg, VA	2.0	1.0	950	$1,262	$1.33	1d	4	0.88mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	775	$1,310	$1.69	21d	2	0.89mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	797	$1,395	$1.75	14d	9	0.89mi
232 High St Unit B Petersburg, VA	1.0	1.0	750	$1,400	$1.87	1d	1	0.91mi
226 High St Petersburg, VA	1.0	1.0	922	$1,500	$1.63	2d	1	0.92mi
16 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	769	$2,312	$3.01	1d	17	0.92mi
9 N Market St Petersburg, VA	1.0	1.0	667	$1,199	$1.80	21d	1	0.97mi
9 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	721	$1,350	$1.87	16d	6	0.98mi
25 W Bank St Petersburg, VA	1.0	1.0	538	$1,050	$1.95	19d	1	1.07mi
25 W Bank St Petersburg, VA	1.0	1.0	765	$995	$1.30	1d	7	1.07mi
15 N Union St Petersburg, VA	1.0	1.0	660	$1,072	$1.62	16d	9	1.08mi
15 N Union St Petersburg, VA	1.0	1.0	633	$999	$1.58	21d	2	1.08mi

Listing history 15 events

1. 2026-06-13
   statusdays on market $145,000 Pending 12 DOM
2. 2026-06-10
   days on market $145,000 Active 10 DOM
3. 2026-06-09
   days on market $145,000 Active 9 DOM
4. 2026-06-08
   days on market $145,000 Active 8 DOM
5. 2026-06-07
   days on market $145,000 Active 7 DOM
6. 2026-06-05
   days on market $145,000 Active 4 DOM
7. 2026-06-03
   days on market $145,000 Active 3 DOM
8. 2026-06-02
   days on market $145,000 Active 2 DOM
9. 2026-06-01
   statusdays on market $145,000 Active 1 DOM
10. 2026-05-31
    days on market $145,000 Coming Soon 6 DOM
11. 2026-05-25
    historical $145,000
12. 2025-08-13
    status Pending
13. 2025-08-13
    historical
14. 2025-07-21
    listed $115,000 Active
15. 1989-12-14
    soldstatus $15,900

ⓘ 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: $864 · $72/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$325/yr (+$27/mo · 37.7%)

ⓘ 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 8/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,007
• − Mortgage interest: −$8,122
• − Property taxes: −$864
• − Insurance: −$725
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$4,218
• Taxable loss: −$1,323
• Est. tax savings @ 24.0%: +$317
• After-tax cash flow: $1,460/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: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• 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

+811.9% since first listed

5 events — show timeline

• 2026-05-25 Coming Soon $145,000 CVRMLS
• 2025-08-13 Pending — CVRMLS
• 2025-08-13 Listing Removed — CVRMLS
• 2025-07-21 Listed $115,000 CVRMLS
• 1989-12-14 Sold (Public Records) $15,900 Public Records

Property tax history

+5.9%/yr

Latest (2025): $864 · +25.9% YoY. Source: county tax records.