261 Fagan St · Danville, VA 24540

$47,500

1 bd · 1.0 ba · 784 sqft · SingleFamily public records · 3 Days on market

Built 1947 0.27 ac lot Est $66k · 28% under

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors, flippers, and renovation enthusiasts! This 2-bedroom, 1-bath bungalow style home located at 261 Fagan St. offers an opportunity to transform a distressed property into a potential income-producing rental or resale project. Situated on a level lot, the home features a traditional layout and convenient city location. However, the property is in need of a complete rehabilitation and is being sold strictly as-is, where is, no warranties. With a manageable footprint, this property could be an attractive project for investors seeking their next renovation opportunity. Bring your vision, tools, and contractor to unlock the potential this property has to offer. Info per city as

Key facts

• Level lot
• Traditional layout
• Bungalow style home

Tags

• BUNGALOW STYLE HOME
• LEVEL LOT
• TRADITIONAL LAYOUT
• NEXT RENOVATION OPPORTUNITY

Property features AI

Finance

• Financial info: Annual tax amount listed (not included as a financial detail per instructions)

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Aluminum siding; Composition roof
• Exterior features: Front porch; Level lot

Interior

• Kitchen: No listed kitchen appliances
• Bedrooms: Total of 4 rooms (bedroom breakdown not specified)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Floor furnace; No central cooling listed
• Interior features: Vinyl and wood flooring; No listed appliances
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $48k).
• Cap rate 15.7% vs local median 5.3% in Danville — 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 77/100 on livability (#91 in VA, #2,952 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, crime D-, commute F.
• Danville City Public School District (town): math 30% / reading 44% proficiency, ranked #128 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 211 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 54 units permitted in Danville city in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $328 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Danville County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $30k; list at $48k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• 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 $47,500

Questions for the listing agent

1. Built in 1947 — 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 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?
4. 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?
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: 1.76% ✓
• Cap rate: 15.70%
• Cash-on-cash: 33.60%
• DSCR: 2.50
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $65,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2133 Spencer St	0.27mi	2/1.0 (+1)	817 (+4%)	12mo	$65,000	$80	65
1482 Myrtle Ave	0.60mi	2/1.0 (+1)	800 (+2%)	4mo	$75,000	$94	61
2211 Spencer St	0.19mi	2/1.0 (+1)	875 (+12%)	8mo	$75,000	$86	60
203 Cunningham St	0.72mi	2/1.0 (+1)	783 (-0%)	2mo	$44,000	$56	59
121 7th St	0.54mi	2/1.0 (+1)	775 (-1%)	12mo	$55,000	$71	58
152 Custer St	0.61mi	2/1.0 (+1)	792 (+1%)	9mo	$103,000	$130	57
1555 Myrtle Ave	0.44mi	2/1.0 (+1)	832 (+6%)	11mo	$70,000	$84	55
126 Midland St	0.68mi	2/1.0 (+1)	783 (-0%)	11mo	$75,000	$96	54
503 Skyline Ave	0.75mi	1/1.0	828 (+6%)	3mo	$107,000	$129	53
227 Jordan St	0.27mi	2/1.0 (+1)	892 (+14%)	9mo	$55,000	$62	52
460 Locust Ln	0.71mi	2/1.0 (+1)	750 (-4%)	10mo	$26,000	$35	46
1441 Myrtle Ave	0.69mi	2/1.0 (+1)	874 (+12%)	3mo	$43,500	$50	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 2.20×
• Total profit: $16,011
• Equity at exit: $7,082

10-year hold

• IRR: 36.2%
• Equity multiple: 4.34×
• Total profit: $44,440
• Equity at exit: $4,107

Cash invested: $13,300 (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 24540

• Home prices YoY: -20.0%
• Active inventory: 211
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $838 high
• Mortgage (P&I): −$249
• Tax from tax record: −$21 /mo · $249/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $372

Break-even live

Break-even rent $367

Max offer price $47,500

Occupancy floor 51%

Sensitivity live

Price	-10% $399	-5% $386	+0% $372	+5% $359	+10% $346
Rent	-10% $306	-5% $339	+0% $372	+5% $406	+10% $439
Rate	-1.0pp $396	-0.5pp $384	base $372	+0.5pp $360	+1.0pp $348

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 Clement Ave Unit 2B Danville, VA	1.0	1.0	650	$850	$1.31	44d	1	0.72mi
1353 N Main St Apt 6 Danville, VA	2.0	1.0	850	$650	$0.76	44d	1	1.00mi
119 Crosland Ave Danville, VA	2.0	1.5	776	$910	$1.17	22d	1	1.33mi
337 Audubon Dr Apt 22C Danville, VA	2.0	1.0	650	$750	$1.15	44d	1	1.44mi
335 Audubon Dr Apt 10B Danville, VA	2.0	1.0	650	$750	$1.15	44d	1	1.47mi

Listing history 4 events

1. 2026-06-19
   days on market $47,500 Active 3 DOM
2. 2026-06-18
   days on market $47,500 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $47,500 Active 1 DOM

ⓘ 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: $249 · $21/mo
• Projected year-2 tax: $390 · $32/mo
• Expected delta: +$141/yr (+$12/mo · 56.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $10,056
• − Mortgage interest: −$2,661
• − Property taxes: −$249
• − Insurance: −$238
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$1,382
• Taxable income: $3,918
• Est. tax owed @ 24.0%: −$940
• After-tax cash flow: $3,529/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: Danville City Public School District
• NCES district ID: 5101110
• Math proficiency: 30% ▼ -22.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $31,952
• Composite: 30.23/100
• National rank: #6298
• State rank: #128 of 131 in VA

Livability — Danville

• Score: 77/100
• State rank: #91
• US rank: #2952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, VA
• County: Danville City · 59,055 people
• City population: 59,055
• Metro: Danville, VA
• Population (ZIP): 31,013
• Household income: $47,924
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1170.0

Population outlook (Danville County) Hauer SSP2

• Today (2025): 40,989 people
• By 2030: 40,432 · -1.4%
• By 2040: 39,255 · -4.2%
• By 2050: 38,035 · -7.2%
• By 2075: 35,612 · -13.1%
• By 2100: 30,365 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 50% Black 42% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Danville

• 2024 margin: Strong D (+21.1) · D 60.1% · R 39.0%
• 2008→2024 swing: +1.9pp toward D · 2008: 19.1pp · 2024: 21.1pp
• All cycles: 2024: D+21.1 2020: D+22.1 2016: D+19.9 2012: D+22.1 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.79%
• Current HPI: 235.1746
• Rent YoY: —
• Metro: Danville, 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

+58.3% since first listed

3 events — show timeline

• 2026-06-16 Listed $47,500 MHPCAR
• 2024-07-11 Listed $54,900 DRRAR
• 1994-07-06 Sold (Public Records) $30,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $249 · +0.0% YoY. Source: county tax records.