606-608 Cameron St · Petersburg, VA 23803

$119,950

4 bd · 2.0 ba · 1,568 sqft · Other public records · 72 Days on market

Built 1927 3,327 sqft lot $76/sqft · 31% below area Est $174k · 31% under

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Why this score? — see what drove the A- 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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Appreciation +5.7/10.0
• 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

Duplex Investment property located on 606/608 Cameron St. , offering 1568 square feet and built in 1927. This property is ready for renovation or redevelopment. This multi-family structure features 4 bedrooms, 2 full baths, living room, kitchen and front and back entrance. Each unit is a 2 bed/ 1 bath, with living room, kitchen area. Strong opportunity for investors, builders, wholesalers looking for a value -add project. Property is currently distressed and abandoned and being Sold " AS-IS". Ideal for rehab, long -term rental investment, or redevelopment project. Situated on a street experiencing new home construction of 3- new homes, and another 3 new homes currently listed. Perfect for revitalizing with other properties and new builds.

Key facts

• Value add project
• 3,327 sq ft lot
• Built 1927

Tags

• DUPLEX INVESTMENT PROPERTY
• MULTI-FAMILY STRUCTURE
• FRONT AND BACK ENTRANCE
• VALUE ADD PROJECT
• NEW HOME CONSTRUCTION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).
• This rent runs 36% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($830 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $46k; list at $120k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 43% 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 $112,753 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.46% ✓
• Cap rate: 13.01%
• Cash-on-cash: 24.00%
• DSCR: 2.07
• GRM: 5.7

CMA / ARV

• ARV (median comp): $174,388
• List price: $119,950
• Delta: -31.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 29.3%
• Equity multiple: 2.57×
• Total profit: $52,871
• Equity at exit: $43,774

10-year hold

• IRR: 32.8%
• Equity multiple: 5.45×
• Total profit: $149,593
• Equity at exit: $60,423

Cash invested: $33,586 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$629
• Tax from tax record: −$32 /mo · $378/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $672

Break-even live

Break-even rent $899

Max offer price $119,950

Occupancy floor 57%

Sensitivity live

Price	-10% $740	-5% $706	+0% $672	+5% $638	+10% $604
Rent	-10% $534	-5% $603	+0% $672	+5% $741	+10% $810
Rate	-1.0pp $732	-0.5pp $702	base $672	+0.5pp $641	+1.0pp $609

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: $29,988
• Closing costs: $3,598
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 E Wythe St Unit 1 Petersburg, VA	4.0	1.5	1400	$1,295	$0.93	44d	1	0.43mi
212 E Wythe St Unit 1 Petersburg, VA	4.0	1.5	1400	$1,295	$0.93	24d	1	0.43mi
462 Reservoir Hts Petersburg, VA	4.0	2.0	1640	$1,895	$1.16	24d	1	0.45mi
331 Glenwood Ct Petersburg, VA	4.0	1.0	1242	$1,800	$1.45	3d	1	0.61mi
147 Witten St Petersburg, VA	3.0	1.0	1170	$1,495	$1.28	11d	1	0.83mi
531 N Azalea Rd Petersburg, VA	3.0	2.0	1600	$1,595	$1.00	24d	1	0.90mi
211 Jefferson Ave Colonial Heights, VA	4.0	2.0	1507	$1,900	$1.26	2d	1	1.10mi
115 Pine St Unit 115 Petersburg, VA	3.0	1.5	1400	$1,462	$1.04	44d	1	1.24mi
315 St Mark St Petersburg, VA	5.0	2.0	1508	$2,500	$1.66	44d	1	1.29mi
335 Claremont St Petersburg, VA	4.0	2.0	2157	$2,500	$1.16	12d	1	1.30mi
500 Floral Ave Colonial Heights, VA	3.0	2.0	1196	$1,895	$1.58	24d	1	1.38mi
1021 Melville St Petersburg, VA	5.0	2.0	2014	$1,899	$0.94	17d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   days on market $119,950 Active 72 DOM
2. 2026-06-17
   days on market $119,950 Active 71 DOM
3. 2026-06-16
   days on market $119,950 Active 70 DOM
4. 2026-06-15
   days on market $119,950 Active 69 DOM
5. 2026-06-13
   days on market $119,950 Active 67 DOM
6. 2026-06-10
   days on market $119,950 Active 64 DOM
7. 2026-06-09
   days on market $119,950 Active 63 DOM
8. 2026-06-08
   days on market $119,950 Active 62 DOM
9. 2026-06-07
   pricedays on market $119,950 Active 61 DOM
10. 2026-06-05
    days on market $120,000 Active 58 DOM
11. 2026-06-03
    days on market $120,000 Active 57 DOM
12. 2026-06-02
    days on market $120,000 Active 56 DOM
13. 2026-06-01
    days on market $120,000 Active 55 DOM
14. 2026-05-31
    days on market $120,000 Active 54 DOM
15. 2026-04-07
    price $120,000 758-char remark

    Show marketing remark (758 chars)

    Duplex Investment property located on 606/608 Cameron St. , offering 1568 square feet and built in 1927. This property is ready for renovation or redevelopment. This multi-family structure features 4 bedrooms, 2 full baths, living room, kitchen and front and back entrance. Each unit is a 2 bed/ 1 bath, with living room, kitchen area. Strong opportunity for investors, builders, wholesalers looking for a value -add project. Property is currently distressed and abandoned and being Sold " AS-IS". Ideal for rehab, long -term rental investment, or redevelopment project. Situated on a street experiencing new home construction of 3- new homes, and another 3 new homes currently listed. Perfect for revitalizing with other properties and new builds.

16. 2026-04-06
    listed $119,000 Active 758-char remark

    Show marketing remark (758 chars)

    Duplex Investment property located on 606/608 Cameron St. , offering 1568 square feet and built in 1927. This property is ready for renovation or redevelopment. This multi-family structure features 4 bedrooms, 2 full baths, living room, kitchen and front and back entrance. Each unit is a 2 bed/ 1 bath, with living room, kitchen area. Strong opportunity for investors, builders, wholesalers looking for a value -add project. Property is currently distressed and abandoned and being Sold " AS-IS". Ideal for rehab, long -term rental investment, or redevelopment project. Situated on a street experiencing new home construction of 3- new homes, and another 3 new homes currently listed. Perfect for revitalizing with other properties and new builds.

17. 2022-11-29
    soldstatus $46,200
18. 2007-02-18
    historical
19. 2006-08-18
    listed $39,900
20. 2006-08-11
    historical
21. 2006-04-19
    listed $80,000

ⓘ 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: $378 · $32/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$605/yr (+$50/mo · 159.9%)

ⓘ 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 ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 43% 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: $20,997
• − Mortgage interest: −$6,719
• − Property taxes: −$378
• − Insurance: −$600
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$3,489
• Taxable income: $6,451
• Est. tax owed @ 24.0%: −$1,548
• After-tax cash flow: $6,513/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

+50.0% since first listed

7 events — show timeline

• 2026-04-07 Price Changed $120,000 CVRMLS
• 2026-04-06 Listed $119,000 CVRMLS
• 2022-11-29 Sold (Public Records) $46,200 Public Records
• 2007-02-18 Listing Removed — CVRMLS
• 2006-08-18 Listed $39,900 CVRMLS
• 2006-08-11 Listing Removed — CVRMLS
• 2006-04-19 Listed $80,000 CVRMLS

Property tax history

-0.7%/yr

Latest (2025): $378 · -9.1% YoY. Source: county tax records.