3779 Old Franklin · Rocky Mount, VA 24092

$239,900

3 bd · 1.0 ba · 1,467 sqft · SingleFamily public records · 6 Days on market

Built 1962 0.52 ac lot $164/sqft · at area comps Est $242k · at est.

---

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 +23.3/30.0
• ARV discount +7.9/15.0
• DSCR +7.5/10.0
• Schools +6.0/10.0
• 1% rule +4.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated maintenance free BRICK RANCH with 1467 square feet just minutes to medical facilities, restaurants, shopping etc. One level living, open kitchen/dining area, beautiful Hickory Cabinetry. Formal living room, huge 12x28 family room, 3 bedrooms, laundry and full bath. New luxury vinyl flooring, windows replaced, new septic system, new pressure tank, and totally repainted. Termites treated 6/30/25, just added vapor barrier w/ new sump pump, and new electric entrance cable.

Key facts

• Huge family room
• New septic system
• Windows replaced

Tags

• OPEN KITCHEN DINING AREA
• HICKORY CABINETRY
• HUGE FAMILY ROOM
• NEW LUXURY VINYL FLOORING
• WINDOWS REPLACED
• NEW SEPTIC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/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 $237k (1.1% below list).
• Recommended offer: $237k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 8.5% vs local median 2.7% in Rocky Mount — 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 74/100 on livability (#153 in VA, #4,873 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: amenities F, commute F, employment F.
• Franklin County Public School District (town): math 69% / reading 72% proficiency, ranked #24 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 29 active listings in the ZIP; 167 units permitted in Franklin County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Franklin County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts 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 $70k; list at $240k implies a 243% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,183 (1.1% below list)

Questions for the listing agent

1. Built in 1962 — 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 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 8.49%
• Cash-on-cash: 7.86%
• DSCR: 1.35
• GRM: 8.4

CMA / ARV

• ARV (median comp): $242,178
• List price: $239,900
• Delta: 0.34%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.4%
• Equity multiple: 0.84×
• Total profit: $-10,967
• Equity at exit: $35,770

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $26,102
• Equity at exit: $20,742

Cash invested: $67,172 (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 24092

• Home prices YoY: -11.1%
• Active inventory: 29
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,372 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$76 /mo · $912/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $440

Break-even live

Break-even rent $1,815

Max offer price $239,900

Occupancy floor 76%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $239,900 Active 6 DOM
2. 2026-06-17
   days on market $239,900 Active 5 DOM
3. 2026-06-16
   days on market $239,900 Active 4 DOM
4. 2026-06-15
   days on market $239,900 Active 3 DOM
5. 2026-06-13
   pricedays on marketlisting id $239,900 Active 1 DOM
6. 2026-06-10
   days on market $243,000 Active 85 DOM
7. 2026-06-09
   days on market $243,000 Active 84 DOM
8. 2026-06-08
   days on market $243,000 Active 83 DOM
9. 2026-06-07
   pricedays on market $243,000 Active 82 DOM
10. 2026-06-02
    days on market $248,000 Active 77 DOM
11. 2026-06-01
    days on market $248,000 Active 76 DOM
12. 2026-05-31
    days on market $248,000 Active 75 DOM
13. 2026-05-30
    days on market $248,000 Active 74 DOM
14. 2026-04-16
    status Active 481-char remark

    Show marketing remark (481 chars)

    Updated maintenance free BRICK RANCH with 1467 square feet just minutes to medical facilities, restaurants, shopping etc. One level living, open kitchen/dining area, beautiful Hickory Cabinetry. Formal living room, huge 12x28 family room, 3 bedrooms, laundry and full bath. New luxury vinyl flooring, windows replaced, new septic system, new pressure tank, and totally repainted. Termites treated 6/30/25, just added vapor barrier w/ new sump pump, and new electric entrance cable.

15. 2026-04-10
    status Pending 481-char remark

    Show marketing remark (481 chars)

    Updated maintenance free BRICK RANCH with 1467 square feet just minutes to medical facilities, restaurants, shopping etc. One level living, open kitchen/dining area, beautiful Hickory Cabinetry. Formal living room, huge 12x28 family room, 3 bedrooms, laundry and full bath. New luxury vinyl flooring, windows replaced, new septic system, new pressure tank, and totally repainted. Termites treated 6/30/25, just added vapor barrier w/ new sump pump, and new electric entrance cable.

16. 2026-03-11
    listed $249,500 Active 481-char remark

    Show marketing remark (481 chars)

    Updated maintenance free BRICK RANCH with 1467 square feet just minutes to medical facilities, restaurants, shopping etc. One level living, open kitchen/dining area, beautiful Hickory Cabinetry. Formal living room, huge 12x28 family room, 3 bedrooms, laundry and full bath. New luxury vinyl flooring, windows replaced, new septic system, new pressure tank, and totally repainted. Termites treated 6/30/25, just added vapor barrier w/ new sump pump, and new electric entrance cable.

17. 2025-12-01
    historical
18. 2025-12-01
    listed $248,700 Active
19. 2025-11-20
    historical
20. 2025-11-04
    listed $248,700 Active
21. 2025-11-03
    historical
22. 2025-10-03
    price $248,900
23. 2025-08-26
    price $250,900
24. 2025-08-05
    listed $256,750 Active
25. 2025-07-08
    price $259,250
26. 2025-06-09
    status Active
27. 2025-05-22
    status Pending
28. 2025-05-22
    historical
29. 2025-05-13
    price $264,900
30. 2025-05-02
    listed $269,900 Active
31. 1995-12-07
    soldstatus $69,950

ⓘ 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: $912 · $76/mo
• Projected year-2 tax: $1,967 · $164/mo
• Expected delta: +$1,056/yr (+$88/mo · 115.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,462
• − Mortgage interest: −$13,438
• − Property taxes: −$912
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,277
• − Management: −$2,277
• − Depreciation: −$6,979
• Taxable income: $1,380
• Est. tax owed @ 24.0%: −$331
• After-tax cash flow: $4,946/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: Franklin County Public School District
• NCES district ID: 5101440
• Math proficiency: 69% ▼ -17.00%
• Reading proficiency: 72% ▼ -8.00%
• Median HH income: $47,093
• Composite: 59.5/100
• National rank: #921
• State rank: #24 of 131 in VA

Livability — Rocky Mount

• Score: 74/100
• State rank: #153
• US rank: #4873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 18,154
• Population (ZIP): 3,336

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 56,242 people
• By 2030: 55,742 · -0.9%
• By 2040: 53,669 · -4.6%
• By 2050: 50,291 · -10.6%
• By 2075: 42,395 · -24.6%
• By 2100: 32,981 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 16% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Slovak 2% Romanian 1%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 3% Korean 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+45.3) · D 26.9% · R 72.2%
• 2008→2024 swing: -22.5pp toward R · 2008: -22.8pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+42.1 2016: R+42.2 2012: R+28.6 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -27.69%
• Current HPI: 221.4193
• 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

+256.7% since first listed

18 events — show timeline

• 2026-04-16 Relisted — MLSRV
• 2026-04-10 Pending — MLSRV
• 2026-03-11 Listed $249,500 MLSRV
• 2025-12-01 Listed $248,700 MLSRV
• 2025-12-01 Listing Removed — MLSRV
• 2025-11-20 Listing Removed — MLSRV
• 2025-11-04 Listed $248,700 MLSRV
• 2025-11-03 Listing Removed — MLSRV
• 2025-10-03 Price Changed $248,900 MLSRV
• 2025-08-26 Price Changed $250,900 MLSRV
• 2025-08-05 Listed $256,750 MLSRV
• 2025-07-08 Price Changed $259,250 MLSRV
• 2025-06-09 Relisted — MLSRV
• 2025-05-22 Pending — MLSRV
• 2025-05-22 Listing Removed — MLSRV
• 2025-05-13 Price Changed $264,900 MLSRV
• 2025-05-02 Listed $269,900 MLSRV
• 1995-12-07 Sold (Public Records) $69,950 Public Records

Property tax history

+5.6%/yr

Latest (2025): $912 · +0.0% YoY. Source: county tax records.