812 E Sycamore St · Chase City, VA 23924

$164,900

2 bd · 1.0 ba · 857 sqft · SingleFamily public records · 92 Days on market

Built 1951 0.73 ac lot $192/sqft · 54% above area Est $116k · 42% over

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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 +24.0/30.0
• DSCR +7.7/10.0
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome home to easy living in the heart of Southern Virginia here in revitalizing Chase City. This thoughtfully updated and adorable home offers modern comfort paired with the relaxed charm Southern Virginia is known for. Recent improvements include a newer roof, siding, HVAC system, replacement windows, and a deck designed for everyday enjoyment. Inside, the kitchen features butcher-block countertops, a farmhouse sink, and tasteful lighting. Three bedrooms provide flexible living options, while a spacious utility and laundry room adds convenience. Enjoy time on the front porch or unwind on the back deck overlooking a landscaped yard. A detached shed with electricity offers space for storage or hobbies, and a fully floored attic provides additional storage. Move-in ready and well cared for—schedule your private showing today!

Key facts

• Newer roof
• Farmhouse sink
• Landscaped yard

Tags

• NEWER ROOF
• REPLACEMENT WINDOWS
• BUTCHER-BLOCK COUNTERTOPS
• FARMHOUSE SINK
• SPACIOUS UTILITY ROOM
• LANDSCAPED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/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 $164k (0.4% below list).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#238 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $3k appreciation (2.0% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $139k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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 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?
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: 1.00% ✗
• Cap rate: 8.65%
• Cash-on-cash: 8.42%
• DSCR: 1.37
• GRM: 8.4

CMA / ARV

• ARV (median comp): $116,037
• List price: $164,900
• Delta: 35.30%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
134 Drew St	0.47mi	2/1.0	780 (-9%)	6mo	$115,000	$147	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.9%
• Equity multiple: 1.70×
• Total profit: $32,190
• Equity at exit: $65,394

10-year hold

• IRR: 15.6%
• Equity multiple: 3.08×
• Total profit: $96,250
• Equity at exit: $94,440

Cash invested: $46,172 (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 23924

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$40 /mo · $485/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $324

Break-even live

Break-even rent $1,233

Max offer price $164,900

Occupancy floor 75%

Sensitivity live

Price	-10% $417	-5% $371	+0% $324	+5% $277	+10% $231
Rent	-10% $194	-5% $259	+0% $324	+5% $389	+10% $454
Rate	-1.0pp $407	-0.5pp $366	base $324	+0.5pp $281	+1.0pp $238

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1035 Roark St Chase City, VA	2.0	1.0	892	$1,800	$2.02	15d	1	0.68mi
761 W 5th St Chase City, VA	3.0	1.0	1040	$1,300	$1.25	15d	1	1.26mi

Listing history 27 events

1. 2026-06-19
   pricedays on marketlisting id $164,900 Active 92 DOM
2. 2026-06-18
   days on market $157,000 Active 132 DOM
3. 2026-06-17
   days on market $157,000 Active 131 DOM
4. 2026-06-16
   days on market $157,000 Active 130 DOM
5. 2026-06-15
   days on market $157,000 Active 129 DOM
6. 2026-06-14
   days on market $157,000 Active 127 DOM
7. 2026-06-13
   days on market $157,000 Active 126 DOM
8. 2026-06-10
   days on market $157,000 Active 124 DOM
9. 2026-06-09
   days on market $157,000 Active 123 DOM
10. 2026-06-08
    days on market $157,000 Active 122 DOM
11. 2026-06-07
    days on market $157,000 Active 121 DOM
12. 2026-06-05
    pricedays on market $157,000 Active 118 DOM
13. 2026-06-03
    days on market $164,900 Active 117 DOM
14. 2026-06-02
    days on market $164,900 Active 116 DOM
15. 2026-06-01
    days on market $164,900 Active 115 DOM
16. 2026-05-31
    days on market $164,900 Active 114 DOM
17. 2026-05-31
    days on market $164,900 Active 113 DOM
18. 2026-04-26
    price $164,900 844-char remark

    Show marketing remark (844 chars)

    Welcome home to easy living in the heart of Southern Virginia here in revitalizing Chase City. This thoughtfully updated and adorable home offers modern comfort paired with the relaxed charm Southern Virginia is known for. Recent improvements include a newer roof, siding, HVAC system, replacement windows, and a deck designed for everyday enjoyment. Inside, the kitchen features butcher-block countertops, a farmhouse sink, and tasteful lighting. Three bedrooms provide flexible living options, while a spacious utility and laundry room adds convenience. Enjoy time on the front porch or unwind on the back deck overlooking a landscaped yard. A detached shed with electricity offers space for storage or hobbies, and a fully floored attic provides additional storage. Move-in ready and well cared for—schedule your private showing today!

19. 2026-03-20
    price $164,900 884-char remark

    Show marketing remark (884 chars)

    Now offered at a more compelling price! Welcome home to easy living in the heart of Southern Virginia here in revitalizing Chase City. This thoughtfully updated and adorable home offers modern comfort paired with the relaxed charm Southern Virginia is known for. Recent improvements include a newer roof, siding, HVAC system, replacement windows, and a deck designed for everyday enjoyment. Inside, the kitchen features butcher-block countertops, a farmhouse sink, and tasteful lighting. Three bedrooms provide flexible living options, while a spacious utility and laundry room adds convenience. Enjoy time on the front porch or unwind on the back deck overlooking a landscaped yard. A detached shed with electricity offers space for storage or hobbies, and a fully floored attic provides additional storage. Move-in ready and well cared for—schedule your private showing today!

20. 2026-03-18
    listed $175,000 Active 844-char remark

    Show marketing remark (844 chars)

    Welcome home to easy living in the heart of Southern Virginia here in revitalizing Chase City. This thoughtfully updated and adorable home offers modern comfort paired with the relaxed charm Southern Virginia is known for. Recent improvements include a newer roof, siding, HVAC system, replacement windows, and a deck designed for everyday enjoyment. Inside, the kitchen features butcher-block countertops, a farmhouse sink, and tasteful lighting. Three bedrooms provide flexible living options, while a spacious utility and laundry room adds convenience. Enjoy time on the front porch or unwind on the back deck overlooking a landscaped yard. A detached shed with electricity offers space for storage or hobbies, and a fully floored attic provides additional storage. Move-in ready and well cared for—schedule your private showing today!

21. 2026-02-06
    listed $175,000 Active 884-char remark

    Show marketing remark (884 chars)

    Now offered at a more compelling price! Welcome home to easy living in the heart of Southern Virginia here in revitalizing Chase City. This thoughtfully updated and adorable home offers modern comfort paired with the relaxed charm Southern Virginia is known for. Recent improvements include a newer roof, siding, HVAC system, replacement windows, and a deck designed for everyday enjoyment. Inside, the kitchen features butcher-block countertops, a farmhouse sink, and tasteful lighting. Three bedrooms provide flexible living options, while a spacious utility and laundry room adds convenience. Enjoy time on the front porch or unwind on the back deck overlooking a landscaped yard. A detached shed with electricity offers space for storage or hobbies, and a fully floored attic provides additional storage. Move-in ready and well cared for—schedule your private showing today!

22. 2025-09-17
    listed $185,000 Active
23. 2022-08-22
    soldstatus $139,000
24. 2022-08-12
    soldstatus $139,000
25. 2022-06-28
    listed $139,500
26. 2021-09-08
    soldstatus $27,500
27. 2021-08-16
    soldstatus $15,000

ⓘ 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: $485 · $40/mo
• Projected year-2 tax: $1,352 · $113/mo
• Expected delta: +$867/yr (+$72/mo · 178.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,713
• − Mortgage interest: −$9,237
• − Property taxes: −$485
• − Insurance: −$824
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$4,797
• Taxable income: $1,215
• Est. tax owed @ 24.0%: −$292
• After-tax cash flow: $3,595/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: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Chase City

• Score: 70/100
• State rank: #238
• US rank: #8038

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

• Census place: Chase City, VA
• Population (ZIP): 5,709

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 36% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.04%
• Current HPI: 155.5959
• 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

+999.3% since first listed

10 events — show timeline

• 2026-04-26 Price Changed $164,900 RVLG
• 2026-03-20 Price Changed $164,900 SPLLAR
• 2026-03-18 Listed $175,000 RVLG
• 2026-02-06 Listed $175,000 SPLLAR
• 2025-09-17 Listed $185,000 SPLLAR
• 2022-08-22 Sold (MLS) $139,000 SPLLAR
• 2022-08-12 Sold (Public Records) $139,000 Public Records
• 2022-06-28 Listed $139,500 SPLLAR
• 2021-09-08 Sold (Public Records) $27,500 Public Records
• 2021-08-16 Sold (Public Records) $15,000 Public Records

Property tax history

+13.3%/yr

Latest (2025): $485 · +0.0% YoY. Source: county tax records.