29209 Meadowview Dr · Waverly, VA 23890

$150,000

3 bd · 2.0 ba · 1,120 sqft · SingleFamily · 18 Days on market

Built 2009 0.36 ac lot Est $249k · 40% under ↓ 40% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +10.8/30.0
• Appreciation +6.3/10.0
• Schools +3.8/10.0
• Livability +3.4/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0

Listing remarks MLS

Welcome to this great home featuring 1120 square feet, 3 bedrooms, 2 full bathrooms in Waverly! Recently updated; this home offers new carpet, new vinyl flooring, painted throughout about a year ago, new light fixtures, new stove and new dishwasher. Enjoy a spacious kitchen with plenty of cabinets and counter space. Move right into this cute home nestled in the country!

Key facts

• 0.36 acre lot
• Parking
• Built 2009

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-69 ($-832/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (29.4% below list).
• Recommended offer: $106k (29.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#305 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Sussex County Public School District (rural): math 36% / reading 56% proficiency, ranked #111 of 131 in VA (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sussex Central Elementary (math 27% / reading 52%, grade F, #900 of 1,108 statewide, top 83%, 443 students, 101% FRL); Sussex Central Middle (math 37% / reading 52%, grade D, #278 of 342 statewide, top 82%, 236 students, 102% FRL); Sussex Central High (math 64% / reading 74%, grade B, #159 of 319 statewide, top 53%, 319 students, 101% FRL) — zoned schools average 101% FRL vs 74% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 35 active listings in the ZIP; 29 units permitted in Sussex County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.5% local appreciation)).
• Sussex County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,960 (29.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.71% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $248,640
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29219 Meadowview Dr	0.02mi	3/2.0	1,152 (+3%)	16mo	$249,000	$216	81
29209 Forestview Dr	0.07mi	3/2.0	1,232 (+10%)	12mo	$273,000	$222	70

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

Projected returns pro-forma

2.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.24×
• Total profit: $9,954
• Equity at exit: $63,576

10-year hold

• IRR: 7.6%
• Equity multiple: 2.10×
• Total profit: $46,165
• Equity at exit: $95,070

Cash invested: $42,000 (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 23890

• Home prices YoY: 1.4%
• Active inventory: 35
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$57 /mo · $687/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $-69

Break-even live

Break-even rent $1,147

Max offer price $137,756

Occupancy floor —

Sensitivity live

Price	-10% $16	-5% $-27	+0% $-69	+5% $-112	+10% $-154
Rent	-10% $-153	-5% $-111	+0% $-69	+5% $-27	+10% $14
Rate	-1.0pp $6	-0.5pp $-31	base $-69	+0.5pp $-108	+1.0pp $-148

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-04-03
   status Pending
2. 2026-04-02
   status Active
3. 2026-03-01
   status Pending
4. 2026-02-16
   price $150,000
5. 2026-02-12
   listed $180,000 Active
6. 2026-02-04
   historical $180,000
7. 2023-11-13
   soldstatus $205,000
8. 2023-11-09
   soldstatus $205,000 Closed 372-char remark

   Show marketing remark (372 chars)

   Welcome to this great home featuring 1120 square feet, 3 bedrooms, 2 full bathrooms in Waverly! Recently updated; this home offers new carpet, new vinyl flooring, painted throughout about a year ago, new light fixtures, new stove and new dishwasher. Enjoy a spacious kitchen with plenty of cabinets and counter space. Move right into this cute home nestled in the country!

9. 2023-10-05
   status Pending 372-char remark

   Show marketing remark (372 chars)

   Welcome to this great home featuring 1120 square feet, 3 bedrooms, 2 full bathrooms in Waverly! Recently updated; this home offers new carpet, new vinyl flooring, painted throughout about a year ago, new light fixtures, new stove and new dishwasher. Enjoy a spacious kitchen with plenty of cabinets and counter space. Move right into this cute home nestled in the country!

10. 2023-09-05
    listed $224,950 Active 372-char remark

    Show marketing remark (372 chars)

    Welcome to this great home featuring 1120 square feet, 3 bedrooms, 2 full bathrooms in Waverly! Recently updated; this home offers new carpet, new vinyl flooring, painted throughout about a year ago, new light fixtures, new stove and new dishwasher. Enjoy a spacious kitchen with plenty of cabinets and counter space. Move right into this cute home nestled in the country!

11. 2023-01-25
    soldstatus $250,000

ⓘ 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: $687 · $57/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$543/yr (+$45/mo · 78.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,715
• − Mortgage interest: −$8,402
• − Property taxes: −$687
• − Insurance: −$750
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$4,364
• Taxable loss: −$3,523
• Est. tax savings @ 24.0%: +$845
• After-tax cash flow: $14/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: Sussex County Public School District
• NCES district ID: 5103780
• Math proficiency: 36% ▼ -46.00%
• Reading proficiency: 56% ▼ -22.00%
• Median HH income: $40,095
• Composite: 38.44/100
• National rank: #4198
• State rank: #111 of 131 in VA

Livability — Waverly

• Score: 67/100
• State rank: #305
• US rank: #10923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waverly, VA
• Population (ZIP): 4,600

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 11,207 people
• By 2030: 10,897 · -2.8%
• By 2040: 10,451 · -6.7%
• By 2050: 9,936 · -11.3%
• By 2075: 8,643 · -22.9%
• By 2100: 6,908 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (60%)
• Race & ethnicity: Black 60% White 36% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Sussex

• 2024 margin: Toss-up / Even · D 51.9% · R 47.5%
• 2008→2024 swing: -19.3pp toward R · 2008: 23.8pp · 2024: 4.4pp
• All cycles: 2024: D+4.4 2020: D+11.9 2016: D+16.3 2012: D+24.5 2008: D+23.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.54%
• Current HPI: 180.2394
• 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

-40.0% since first listed

11 events — show timeline

• 2026-04-03 Pending — CVRMLS
• 2026-04-02 Relisted — CVRMLS
• 2026-03-01 Pending — CVRMLS
• 2026-02-16 Price Changed $150,000 CVRMLS
• 2026-02-12 Listed $180,000 CVRMLS
• 2026-02-04 Coming Soon $180,000 CVRMLS
• 2023-11-13 Sold (Public Records) $205,000 Public Records
• 2023-11-09 Sold (MLS) $205,000 CVRMLS
• 2023-10-05 Pending — CVRMLS
• 2023-09-05 Listed $224,950 CVRMLS
• 2023-01-25 Sold (Public Records) $250,000 Public Records

Property tax history

+19.8%/yr

Latest (2025): $687 · +0.0% YoY. Source: county tax records.