309 Park Ln · Chatmoss, VA 24112

$60,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 287 Days on market

Built 1958 0.62 ac lot $60/sqft · 59% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is knocking! This 3 bed, 1.5 bath home is brimming with potential and waiting for the right buyer to bring it back to life. Located just outside the city limits and spanning over 3 lots, this property offers the perfect blend of convenience and charm. A newly installed roof and heat pump make this home that much more desirable, while the unfinished basement adds a blank canvas for additional living space, however the partial bath is already in place to make the job that much easier. The home needs TLC, but with the right updates, it could be a true gem. Schedule your showing today! Property sold as-is and lot size is estimated and should be verified by buyer/buyer agent.

Key facts

• Heat pump
• Partial bath
• Unfinished basement

Tags

• NEWLY INSTALLED ROOF
• HEAT PUMP
• UNFINISHED BASEMENT
• PARTIAL BATH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 3.0% in Chatmoss — 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 65/100 on livability (#340 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 256 active listings in the ZIP; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 287 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $20k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 287 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. 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: 1.85% ✓
• Cap rate: 16.56%
• Cash-on-cash: 36.68%
• DSCR: 2.63
• GRM: 4.5

CMA / ARV

• ARV (median comp): $146,101
• List price: $60,000
• Delta: -58.93%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 32.5%
• Equity multiple: 2.37×
• Total profit: $22,970
• Equity at exit: $8,946

10-year hold

• IRR: 39.5%
• Equity multiple: 4.69×
• Total profit: $62,058
• Equity at exit: $5,188

Cash invested: $16,800 (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 24112

• Active inventory: 256
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,110 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$24 /mo · $286/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $514

Break-even live

Break-even rent $460

Max offer price $60,000

Occupancy floor 49%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-02-06
   price $60,000 691-char remark

   Show marketing remark (691 chars)

   Opportunity is knocking! This 3 bed, 1.5 bath home is brimming with potential and waiting for the right buyer to bring it back to life. Located just outside the city limits and spanning over 3 lots, this property offers the perfect blend of convenience and charm. A newly installed roof and heat pump make this home that much more desirable, while the unfinished basement adds a blank canvas for additional living space, however the partial bath is already in place to make the job that much easier. The home needs TLC, but with the right updates, it could be a true gem. Schedule your showing today! Property sold as-is and lot size is estimated and should be verified by buyer/buyer agent.

2. 2026-01-02
   price $72,500 691-char remark

   Show marketing remark (691 chars)

   Opportunity is knocking! This 3 bed, 1.5 bath home is brimming with potential and waiting for the right buyer to bring it back to life. Located just outside the city limits and spanning over 3 lots, this property offers the perfect blend of convenience and charm. A newly installed roof and heat pump make this home that much more desirable, while the unfinished basement adds a blank canvas for additional living space, however the partial bath is already in place to make the job that much easier. The home needs TLC, but with the right updates, it could be a true gem. Schedule your showing today! Property sold as-is and lot size is estimated and should be verified by buyer/buyer agent.

3. 2025-09-11
   price $75,000 691-char remark

   Show marketing remark (691 chars)

   Opportunity is knocking! This 3 bed, 1.5 bath home is brimming with potential and waiting for the right buyer to bring it back to life. Located just outside the city limits and spanning over 3 lots, this property offers the perfect blend of convenience and charm. A newly installed roof and heat pump make this home that much more desirable, while the unfinished basement adds a blank canvas for additional living space, however the partial bath is already in place to make the job that much easier. The home needs TLC, but with the right updates, it could be a true gem. Schedule your showing today! Property sold as-is and lot size is estimated and should be verified by buyer/buyer agent.

4. 2025-08-14
   listed $80,000 Active 691-char remark

   Show marketing remark (691 chars)

   Opportunity is knocking! This 3 bed, 1.5 bath home is brimming with potential and waiting for the right buyer to bring it back to life. Located just outside the city limits and spanning over 3 lots, this property offers the perfect blend of convenience and charm. A newly installed roof and heat pump make this home that much more desirable, while the unfinished basement adds a blank canvas for additional living space, however the partial bath is already in place to make the job that much easier. The home needs TLC, but with the right updates, it could be a true gem. Schedule your showing today! Property sold as-is and lot size is estimated and should be verified by buyer/buyer agent.

5. 2012-08-02
   listed $46,900

ⓘ 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: $286 · $24/mo
• Projected year-2 tax: $492 · $41/mo
• Expected delta: +$206/yr (+$17/mo · 72.1%)

ⓘ 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 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $13,322
• − Mortgage interest: −$3,361
• − Property taxes: −$286
• − Insurance: −$300
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$1,745
• Taxable income: $5,498
• Est. tax owed @ 24.0%: −$1,319
• After-tax cash flow: $4,843/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: Henry County Public School District
• NCES district ID: 5101920
• Math proficiency: 45% ▼ -37.00%
• Reading proficiency: 69% ▼ -6.00%
• Median HH income: $34,579
• Composite: 47.02/100
• National rank: #2345
• State rank: #78 of 131 in VA

Livability — Chatmoss

• Score: 65/100
• State rank: #340
• US rank: #13412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Martinsville City · 31,028 people
• Metro: Martinsville, VA
• Population (ZIP): 31,028
• Household income: $48,770
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 888.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 46,903 people
• By 2030: 44,141 · -5.9%
• By 2040: 38,687 · -17.5%
• By 2050: 33,742 · -28.1%
• By 2075: 25,720 · -45.2%
• By 2100: 19,868 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+32.8) · D 33.3% · R 66.1%
• 2008→2024 swing: -22.4pp toward R · 2008: -10.5pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.1 2016: R+29.2 2012: R+14.7 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.37%
• Current HPI: 172.4393
• Rent YoY: —
• Metro: Martinsville, 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

+27.9% since first listed

5 events — show timeline

• 2026-02-06 Price Changed $60,000 MHPCAR
• 2026-01-02 Price Changed $72,500 MHPCAR
• 2025-09-11 Price Changed $75,000 MHPCAR
• 2025-08-14 Listed $80,000 MHPCAR
• 2012-08-02 Listed $46,900 MHPCAR

Property tax history

+1.1%/yr

Latest (2025): $286 · +0.0% YoY. Source: county tax records.