805 Chestnut St · Franklin, VA 23851

$144,990

2 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 16 Days on market

Built 1948 Est $140k · at est.

---

Why this score? — see what drove the D+ 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 +20.7/30.0
• DSCR +6.6/10.0
• ARV discount +5.9/15.0
• 1% rule +4.4/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Add tlc to make this house your home! Potential investment opportunity. Occupied, so pre-approved buyer showings only.

Key facts

• Built 1948
• Listed 16 days

Property features AI

Finance

• HOA & community: No HOA fees noted

Exterior

• Parking: Off-street parking; Driveway space; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached bungalow; 1.5 stories; Simple ownership; Crawl foundation
• Construction: Wood exterior; Composite roof; Crawl foundation
• Exterior features: Wood siding; Composite roof

Interior

• Kitchen: Range
• Bedrooms: Bedroom with full bathroom on the first floor
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating
• Interior features: Carpet flooring; Spare room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $196 ($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 $136k (6.4% below list).
• Recommended offer: $136k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.9% in Franklin — 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 59/100 on livability (#461 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Franklin City Public School District (town): math 23% / reading 51% proficiency, ranked #127 of 131 in VA (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Franklin High (math 37% / reading 82%, grade C+, #247 of 319 statewide, top 80%, 378 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 60% at this address vs 37% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Franklin City Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 137 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $145k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% 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 $135,666 (6.4% below list)

Questions for the listing agent

1. Built in 1948 — 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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.94% ✗
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $139,920
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
650 Hayden Dr	0.34mi	3/1.0 (+1)	1,321 (+0%)	2mo	$140,000	$106	77
200 Delk St	0.47mi	3/2.0 (+1)	1,300 (-2%)	4mo	$114,900	$88	64
309 Edwards St	0.42mi	3/1.5 (+1)	1,360 (+3%)	6mo	$80,000	$59	63
407 Hall St	0.36mi	3/2.0 (+1)	1,178 (-11%)	4mo	$75,000	$64	53
311 Washington St	0.61mi	3/2.0 (+1)	1,200 (-9%)	1mo	$240,000	$200	46
310 Bogart St	0.53mi	3/1.0 (+1)	1,166 (-12%)	12mo	$70,000	$60	41
302 Artis St	0.68mi	3/2.0 (+1)	1,462 (+11%)	11mo	$219,000	$150	32
309 Stonewall St	0.67mi	3/2.5 (+1)	1,192 (-10%)	13mo	$190,000	$159	31
400 W Third Ave	0.72mi	3/2.0 (+1)	1,516 (+15%)	11mo	$227,000	$150	23

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-11,048
• Equity at exit: $21,618

10-year hold

• IRR: 2.2%
• Equity multiple: 1.15×
• Total profit: $6,249
• Equity at exit: $12,536

Cash invested: $40,597 (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 23851

• Home prices YoY: -10.2%
• Active inventory: 137
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,357 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$55 /mo · $656/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $196

Break-even live

Break-even rent $1,108

Max offer price $144,990

Occupancy floor 81%

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: $36,248
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
680 Oak St Unit 111 Franklin, VA	1.0	1.0	1252	$1,150	$0.92	1d	1	0.29mi
116 Holland Cir Franklin, VA	3.0	1.0	1056	$1,800	$1.70	43d	1	0.52mi
2300 South St Unit 1 Franklin, VA	3.0	1.0	1350	$1,600	$1.19	43d	1	1.08mi
313 Council Rd Franklin, VA	3.0	1.0	1000	$975	$0.97	19d	1	1.23mi

Listing history 13 events

1. 2026-06-18
   days on market $144,990 Active 16 DOM
2. 2026-06-17
   days on market $144,990 Active 15 DOM
3. 2026-06-16
   days on market $144,990 Active 14 DOM
4. 2026-06-15
   days on market $144,990 Active 13 DOM
5. 2026-06-15
   days on market $144,990 Active 12 DOM
6. 2026-06-13
   days on market $144,990 Active 11 DOM
7. 2026-06-12
   days on market $144,990 Active 10 DOM
8. 2026-06-09
   days on market $144,990 Active 7 DOM
9. 2026-06-08
   days on market $144,990 Active 6 DOM
10. 2026-06-08
    days on market $144,990 Active 5 DOM
11. 2026-06-05
    days on market $144,990 Active 3 DOM
12. 2026-06-02
    remarks 118-char remark
13. 2026-06-02
    listed $144,990 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: $656 · $55/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$533/yr (+$44/mo · 81.2%)

ⓘ 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 ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $16,280
• − Mortgage interest: −$8,122
• − Property taxes: −$656
• − Insurance: −$725
• − Repairs & maintenance: −$1,302
• − Management: −$1,302
• − Depreciation: −$4,218
• Taxable loss: −$46
• Est. tax savings @ 24.0%: +$11
• After-tax cash flow: $2,367/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 City Public School District
• NCES district ID: 5101410
• Math proficiency: 23% ▼ -48.00%
• Reading proficiency: 51% ▼ -18.00%
• Median HH income: $35,138
• Composite: 30.47/100
• National rank: #6227
• State rank: #127 of 131 in VA

Livability — Franklin

• Score: 59/100
• State rank: #461
• US rank: #19645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, VA
• Population (ZIP): 13,481

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 7,817 people
• By 2030: 7,480 · -4.3%
• By 2040: 6,803 · -13.0%
• By 2050: 6,124 · -21.7%
• By 2075: 4,484 · -42.6%
• By 2100: 2,967 · -62.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 45% White 44% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: -5.3pp toward R · 2008: 28.1pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+25.6 2016: D+27.1 2012: D+30.7 2008: D+28.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.51%
• Current HPI: 293.564
• 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

+860.2% since first listed

3 events — show timeline

• 2026-06-02 Listed $144,990 REINMLS
• 2022-11-07 Sold (Public Records) $80,140 Public Records
• 2014-07-14 Sold (Public Records) $15,100 Public Records

Property tax history

+2.5%/yr

Latest (2025): $656 · +0.0% YoY. Source: county tax records.