612 Virginia Ave · Petersburg, VA 23803

$126,899

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 56 Days on market

Built 1928 3,920 sqft lot $165/sqft · 18% below area Est $154k · 18% 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 +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• Appreciation +5.7/10.0
• 1% rule +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

* * BEST BUY * * Positive Cash Flow Rental!! This Great 2 bedroom Bungalow on Virginia Ave. was recently updated and renovated. This is a Low maintenance 2 bedroom 1 bath Home, with a fenced yard. If you are looking for a Positive Cash Flow Rental, then you will want to see this property.

Key facts

• 3,920 sq ft lot
• Built 1928
• Listed 56 days

Property features AI

Finance

• Other: Above-grade finished living area: 768

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property
• Construction: Brick, frame, drywall and vinyl siding exterior; Metal roof
• Exterior features: Front porch; R-2 zoning

Interior

• Bathrooms: 1 full bathroom with tub and shower (located on the first level)
• Heating & cooling: Electric baseboard heating
• Interior features: Crawl space basement; Total of 5 rooms
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $127k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/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 $124k (2.1% below list).
• Recommended offer: $123k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 24d 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 ($877 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $86k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 48% 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 $123,092 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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 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?
5. 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?
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: 0.98% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 8.5

CMA / ARV

• ARV (median comp): $153,840
• List price: $126,899
• Delta: -17.51%
• 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
817 Arlington St	0.25mi	2/1.0	820 (+7%)	4mo	$129,900	$158	73
650 S Jones St	0.34mi	2/0.5	800 (+4%)	4mo	$50,000	$63	72
917 Lee Ave	0.53mi	2/1.0	768 (0%)	4mo	$80,000	$104	72
324 St Luke St	0.26mi	3/1.0 (+1)	816 (+6%)	1mo	$183,000	$224	72
1227 Hilton Pl	0.29mi	2/1.0	808 (+5%)	9mo	$121,500	$150	70
1318 Custer St	0.51mi	2/1.0	768 (0%)	15mo	$135,000	$176	64
426 S South St	0.58mi	3/1.0 (+1)	768 (0%)	11mo	$160,000	$208	59
1015 Lee Ave	0.56mi	3/1.0 (+1)	792 (+3%)	9mo	$167,500	$211	56
321 Porterville St	0.37mi	2/1.0	877 (+14%)	11mo	$172,000	$196	50
1014 Jefferson Ln	0.41mi	2/1.0	672 (-12%)	12mo	$126,050	$188	50
1401 Hanover St	0.72mi	3/2.0 (+1)	816 (+6%)	2mo	$200,000	$245	46
600 S Jefferson St	0.75mi	2/1.0	672 (-12%)	5mo	$82,500	$123	40

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: 10.1%
• Equity multiple: 1.54×
• Total profit: $19,140
• Equity at exit: $46,310

10-year hold

• IRR: 15.2%
• Equity multiple: 3.06×
• Total profit: $73,342
• Equity at exit: $63,924

Cash invested: $35,532 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$665
• Tax from tax record: −$102 /mo · $1,219/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $161

Break-even live

Break-even rent $1,038

Max offer price $126,899

Occupancy floor 82%

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: $31,725
• Closing costs: $3,807
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Saint Luke St Petersburg, VA	3.0	2.0	1020	$1,491	$1.46	23d	1	0.29mi
217 N Carolina Ave Petersburg, VA	2.0	1.0	718	$1,025	$1.43	23d	1	0.34mi
1131 Hawk St Petersburg, VA	3.0	2.0	1100	$1,800	$1.64	43d	1	0.42mi
1517 Halifax St Unit 10 Petersburg, VA	2.0	1.0	900	$995	$1.11	43d	1	0.66mi
1517 Halifax St Unit 20 Petersburg, VA	2.0	1.0	600	$1,195	$1.99	43d	1	0.66mi
1517 Halifax St Unit 15 Petersburg, VA	2.0	1.0	650	$895	$1.38	23d	1	0.66mi
1517 Halifax St Unit 3 Petersburg, VA	2.0	1.0	600	$1,195	$1.99	10d	1	0.67mi
1111 Stainback St Apt 2 Petersburg, VA	2.0	1.0	750	$895	$1.19	43d	1	0.68mi
408 S West St Petersburg, VA	2.0	1.0	900	$1,095	$1.22	21d	1	0.70mi
1121 Stainback St Unit 5202 Petersburg, VA	2.0	1.0	800	$995	$1.24	43d	1	0.71mi
1121 Stainback St Unit 2108 Petersburg, VA	2.0	1.0	800	$995	$1.24	23d	1	0.71mi
929 Farmer St Petersburg, VA	2.0	1.0	850	$895	$1.05	23d	1	0.75mi
1640 Johnson Rd Petersburg, VA	1.0–3.0	1.0–1.5	972	$1,289	$1.33	1d	11	0.75mi
1516 W Clara Dr Unit 8 Petersburg, VA	2.0	1.0	1000	$995	$0.99	17d	1	0.76mi
212 S Dunlop St Petersburg, VA	2.0	1.0	700	$1,250	$1.79	43d	1	0.77mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	775	$1,310	$1.69	21d	2	0.77mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	797	$1,395	$1.75	14d	9	0.77mi
109 Perry St Petersburg, VA	1.0–2.0	1.0–2.0	787	$1,577	$2.00	2d	15	0.82mi
1528 Lincoln St Petersburg, VA	2.0	1.0	673	$895	$1.33	16d	1	0.83mi
16 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	769	$2,312	$3.01	1d	17	0.92mi
647 W Washington St Petersburg, VA	1.0	1.0	595	$595	$1.00	16d	1	0.94mi
9 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	721	$1,350	$1.87	17d	6	0.97mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	745	$1,395	$1.87	1d	8	0.99mi
801 Hinton St Petersburg, VA	1.0–2.0	1.0–2.0	834	$1,399	$1.68	19d	2	0.99mi
9 N Market St Petersburg, VA	1.0	1.0	667	$1,199	$1.80	21d	1	1.00mi
15 N Union St Petersburg, VA	1.0	1.0	633	$999	$1.58	21d	2	1.07mi
15 N Union St Petersburg, VA	1.0	1.0	660	$1,072	$1.62	17d	9	1.07mi
214 N Dunlop St Unit 400 Petersburg, VA	2.0	2.0	892	$1,500	$1.68	43d	1	1.08mi
214 N Dunlop St Unit 211 Petersburg, VA	1.0	1.0	667	$1,199	$1.80	43d	1	1.08mi
1800 Boydton Plank Rd Petersburg, VA	1.0–3.0	1.0	900	$1,262	$1.40	1d	14	1.09mi
712 High St Unit 3 Petersburg, VA	1.0	1.0	539	$999	$1.85	43d	1	1.11mi
712 High St Unit 9 Petersburg, VA	1.0	1.0	670	$1,100	$1.64	43d	1	1.11mi
714 High St Apt E Petersburg, VA	2.0	2.0	924	$1,300	$1.41	21d	1	1.11mi
214 N Dunlop St Unit 404 Petersburg, VA	2.0	2.0	863	$1,400	$1.62	43d	1	1.12mi
214 N Dunlop St Petersburg, VA	1.0–2.0	1.0–2.0	799	$1,395	$1.74	1d	11	1.12mi
214 N Dunlop St Petersburg, VA	1.0	1.0	667	$1,210	$1.81	19d	3	1.12mi
214 N Dunlop St Unit 103 Petersburg, VA	1.0	1.0	632	$1,049	$1.66	23d	1	1.12mi
214 N Dunlop St Unit 302 Petersburg, VA	1.0	1.0	630	$1,099	$1.74	43d	1	1.12mi
214 N Dunlop St Unit 115 Petersburg, VA	1.0	1.0	667	$1,235	$1.85	23d	1	1.12mi
214 N Dunlop St Unit 119 Petersburg, VA	2.0	2.0	988	$1,399	$1.42	43d	1	1.12mi

Listing history 37 events

1. 2026-06-18
   days on market $126,899 Active 56 DOM
2. 2026-06-17
   days on market $126,899 Active 55 DOM
3. 2026-06-16
   days on market $126,899 Active 54 DOM
4. 2026-06-15
   price $126,899 Active 53 DOM
5. 2026-06-15
   days on market $126,999 Active 53 DOM
6. 2026-06-13
   pricedays on market $126,999 Active 51 DOM
7. 2026-06-10
   days on market $127,399 Active 48 DOM
8. 2026-06-09
   days on market $127,399 Active 47 DOM
9. 2026-06-08
   pricedays on market $127,399 Active 46 DOM
10. 2026-06-07
    pricedays on market $127,499 Active 45 DOM
11. 2026-06-05
    days on market $127,799 Active 42 DOM
12. 2026-06-03
    days on market $127,799 Active 41 DOM
13. 2026-06-02
    days on market $127,799 Active 40 DOM
14. 2026-06-02
    price $127,799 Active 39 DOM
15. 2026-06-01
    days on market $127,899 Active 39 DOM
16. 2026-05-31
    days on market $127,899 Active 38 DOM
17. 2026-05-15
    price $128,749 343-char remark
18. 2026-05-11
    price $129,749 343-char remark
19. 2026-05-08
    price $129,799 343-char remark
20. 2026-05-04
    price $129,899 343-char remark
21. 2026-04-30
    price $129,949 343-char remark
22. 2026-04-23
    listed $129,999 Active 343-char remark
23. 2017-10-17
    soldstatus $19,900
24. 2014-10-07
    soldstatus $25,000
25. 2014-02-07
    soldstatus $16,854 296-char remark

    Show marketing remark (296 chars)

    * * BEST BUY * * Positive Cash Flow Rental!! This Great 2 bedroom Bungalow on Virginia Ave. was recently updated and renovated. This is a Low maintenance 2 bedroom 1 bath Home, with a fenced yard. If you are looking for a Positive Cash Flow Rental, then you will want to see this property.

26. 2014-01-25
    historical 296-char remark

    Show marketing remark (296 chars)

    * * BEST BUY * * Positive Cash Flow Rental!! This Great 2 bedroom Bungalow on Virginia Ave. was recently updated and renovated. This is a Low maintenance 2 bedroom 1 bath Home, with a fenced yard. If you are looking for a Positive Cash Flow Rental, then you will want to see this property.

27. 2013-11-29
    listed $22,850 296-char remark

    Show marketing remark (296 chars)

    * * BEST BUY * * Positive Cash Flow Rental!! This Great 2 bedroom Bungalow on Virginia Ave. was recently updated and renovated. This is a Low maintenance 2 bedroom 1 bath Home, with a fenced yard. If you are looking for a Positive Cash Flow Rental, then you will want to see this property.

28. 2013-06-01
    historical
29. 2012-12-27
    listed $39,950
30. 2012-11-30
    soldstatus $9,900
31. 2012-11-29
    soldstatus $9,900
32. 2012-11-15
    historical
33. 2012-08-23
    listed $9,900
34. 2012-06-05
    historical
35. 2011-10-21
    listed $39,000
36. 2008-08-29
    soldstatus $60,000
37. 2008-07-03
    soldstatus $52,000

ⓘ 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: $1,219 · $102/mo
• Projected year-2 tax: $1,219 · $102/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 48% 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: $14,901
• − Mortgage interest: −$7,108
• − Property taxes: −$1,219
• − Insurance: −$634
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$3,692
• Taxable loss: −$136
• Est. tax savings @ 24.0%: +$33
• After-tax cash flow: $1,965/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
• City population: 63,420
• 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

+144.0% since first listed

31 events — show timeline

• 2026-06-15 Price Changed $126,899 CVRMLS
• 2026-06-12 Price Changed $126,999 CVRMLS
• 2026-06-08 Price Changed $127,399 CVRMLS
• 2026-06-05 Price Changed $127,499 CVRMLS
• 2026-06-01 Price Changed $127,799 CVRMLS
• 2026-05-29 Price Changed $127,899 CVRMLS
• 2026-05-26 Price Changed $127,999 CVRMLS
• 2026-05-22 Price Changed $128,149 CVRMLS
• 2026-05-19 Price Changed $128,249 CVRMLS
• 2026-05-15 Price Changed $128,749 CVRMLS
• 2026-05-11 Price Changed $129,749 CVRMLS
• 2026-05-08 Price Changed $129,799 CVRMLS
• 2026-05-04 Price Changed $129,899 CVRMLS
• 2026-04-30 Price Changed $129,949 CVRMLS
• 2026-04-23 Listed $129,999 CVRMLS
• 2026-04-13 Sold (Public Records) $85,500 Public Records
• 2017-10-17 Sold (Public Records) $19,900 Public Records
• 2014-10-07 Sold (Public Records) $25,000 Public Records
• 2014-02-07 Sold (MLS) $16,854 CVRMLS
• 2014-01-25 Listing Removed — CVRMLS
• 2013-11-29 Listed $22,850 CVRMLS
• 2013-06-01 Listing Removed — CVRMLS
• 2012-12-27 Listed $39,950 CVRMLS
• 2012-11-30 Sold (Public Records) $9,900 Public Records
• 2012-11-29 Sold (MLS) $9,900 CVRMLS
• 2012-11-15 Listing Removed — CVRMLS
• 2012-08-23 Listed $9,900 CVRMLS
• 2012-06-05 Listing Removed — CVRMLS
• 2011-10-21 Listed $39,000 CVRMLS
• 2008-08-29 Sold (Public Records) $60,000 Public Records
• 2008-07-03 Sold (Public Records) $52,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,219 · +130.2% YoY. Source: county tax records.