9925 Friendship Rd · Gloucester Courthouse, VA 23128

$295,000

3 bd · 2.0 ba · 1,390 sqft · SingleFamily public records · 86 Days on market

Built 1986 5.00 ac lot $212/sqft · 18% below area Est $359k · 18% under

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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
• Schools +5.6/10.0
• Appreciation +5.4/10.0
• Cash flow +5.1/30.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to 9925 Friendship Road in North, VA—a peaceful country retreat set on 5 private acres of beautiful land. This charming ranch-style home offers the perfect blend of comfort, functionality, and space to enjoy the outdoors. Inside, you’ll find a thoughtfully designed layout featuring a convenient first-floor bedroom, ideal for easy living or accommodating guests. The home is equipped with ceiling fans to keep the space comfortable year-round, while the kitchen showcases elegant granite/stone countertops that add both style and durability. HVAC is only 4 years old! Surrounded by nature, this property provides exceptional privacy and room to roam, whether you’re looking to relax, garden, or simply enjoy the quiet setting. With its single-level ranch design and expansive acreage, this home is a rare opportunity to experience country living at its finest. Don’t miss your chance to own this private slice of Virginia countryside!

Key facts

• Private acres
• Expansive acreage
• First-floor bedroom

Tags

• PRIVATE ACRES
• FIRST-FLOOR BEDROOM
• CEILING FANS
• GRANITE STONE COUNTERTOPS
• SINGLE-LEVEL RANCH DESIGN
• EXPANSIVE ACREAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-687 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (41.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (52.1% below list).
• Recommended offer: $141k (52.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#150 in VA, #4,823 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A-; Watch: amenities F, commute F.
• Gloucester County Public School District (rural): math 57% / reading 73% proficiency, ranked #37 of 131 in VA (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Botetourt Elementary (math 66% / reading 73%, grade A-, #313 of 1,108 statewide, top 32%, 546 students, 47% FRL); Peasley Middle (math 53% / reading 74%, grade B+, #128 of 342 statewide, top 39%, 620 students, 37% FRL); Gloucester High (math 58% / reading 86%, grade B+, #134 of 319 statewide, top 45%, 1,531 students, 39% FRL).
• Market conditions: 23 active listings in the ZIP; 85 units permitted in Gloucester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Gloucester County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $45k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $158k; list at $295k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,193 (52.1% 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. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
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 A-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. 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?
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: 0.48% ✗
• Cap rate: 3.50%
• Cash-on-cash: -9.98%
• DSCR: 0.56
• GRM: 17.4

CMA / ARV

• ARV (median comp): $359,418
• List price: $295,000
• Delta: -17.92%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8251 Meandering Ln	0.50mi	3/2.0	1,188 (-14%)	1mo	$350,000	$295	52

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

Projected returns pro-forma

0.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.49×
• Total profit: $-42,180
• Equity at exit: $96,664

10-year hold

• IRR: -4.4%
• Equity multiple: 0.48×
• Total profit: $-42,825
• Equity at exit: $125,386

Cash invested: $82,600 (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 23128

• Home prices YoY: 0.4%
• Active inventory: 23
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$133 /mo · $1,593/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-687

Break-even live

Break-even rent $2,282

Max offer price $173,596

Occupancy floor —

Sensitivity live

Price	-10% $-520	-5% $-604	+0% $-687	+5% $-771	+10% $-854
Rent	-10% $-799	-5% $-743	+0% $-687	+5% $-631	+10% $-576
Rate	-1.0pp $-539	-0.5pp $-612	base $-687	+0.5pp $-764	+1.0pp $-841

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $295,000 Active 86 DOM
2. 2026-06-21
   days on market $295,000 Active 85 DOM
3. 2026-06-18
   days on market $295,000 Active 83 DOM
4. 2026-06-17
   days on market $295,000 Active 82 DOM
5. 2026-06-16
   days on market $295,000 Active 81 DOM
6. 2026-06-15
   days on market $295,000 Active 80 DOM
7. 2026-06-15
   days on market $295,000 Active 79 DOM
8. 2026-06-13
   days on market $295,000 Active 78 DOM
9. 2026-06-12
   pricedays on market $295,000 Active 77 DOM
10. 2026-06-09
    days on market $309,900 Active 74 DOM
11. 2026-06-08
    days on market $309,900 Active 73 DOM
12. 2026-06-08
    days on market $309,900 Active 72 DOM
13. 2026-06-07
    days on market $309,900 Active 71 DOM
14. 2026-06-03
    days on market $309,900 Active 68 DOM
15. 2026-06-02
    days on market $309,900 Active 67 DOM
16. 2026-06-01
    days on market $309,900 Active 66 DOM
17. 2026-05-31
    days on market $309,900 Active 65 DOM
18. 2026-04-14
    price $309,900 970-char remark

    Show marketing remark (970 chars)

    Welcome to 9925 Friendship Road in North, VA—a peaceful country retreat set on 5 private acres of beautiful land. This charming ranch-style home offers the perfect blend of comfort, functionality, and space to enjoy the outdoors. Inside, you’ll find a thoughtfully designed layout featuring a convenient first-floor bedroom, ideal for easy living or accommodating guests. The home is equipped with ceiling fans to keep the space comfortable year-round, while the kitchen showcases elegant granite/stone countertops that add both style and durability. HVAC is only 4 years old! Surrounded by nature, this property provides exceptional privacy and room to roam, whether you’re looking to relax, garden, or simply enjoy the quiet setting. With its single-level ranch design and expansive acreage, this home is a rare opportunity to experience country living at its finest. Don’t miss your chance to own this private slice of Virginia countryside!

19. 2026-04-06
    price $324,900 970-char remark

    Show marketing remark (970 chars)

    Welcome to 9925 Friendship Road in North, VA—a peaceful country retreat set on 5 private acres of beautiful land. This charming ranch-style home offers the perfect blend of comfort, functionality, and space to enjoy the outdoors. Inside, you’ll find a thoughtfully designed layout featuring a convenient first-floor bedroom, ideal for easy living or accommodating guests. The home is equipped with ceiling fans to keep the space comfortable year-round, while the kitchen showcases elegant granite/stone countertops that add both style and durability. HVAC is only 4 years old! Surrounded by nature, this property provides exceptional privacy and room to roam, whether you’re looking to relax, garden, or simply enjoy the quiet setting. With its single-level ranch design and expansive acreage, this home is a rare opportunity to experience country living at its finest. Don’t miss your chance to own this private slice of Virginia countryside!

20. 2026-03-26
    listed $339,900 Active 970-char remark

    Show marketing remark (970 chars)

    Welcome to 9925 Friendship Road in North, VA—a peaceful country retreat set on 5 private acres of beautiful land. This charming ranch-style home offers the perfect blend of comfort, functionality, and space to enjoy the outdoors. Inside, you’ll find a thoughtfully designed layout featuring a convenient first-floor bedroom, ideal for easy living or accommodating guests. The home is equipped with ceiling fans to keep the space comfortable year-round, while the kitchen showcases elegant granite/stone countertops that add both style and durability. HVAC is only 4 years old! Surrounded by nature, this property provides exceptional privacy and room to roam, whether you’re looking to relax, garden, or simply enjoy the quiet setting. With its single-level ranch design and expansive acreage, this home is a rare opportunity to experience country living at its finest. Don’t miss your chance to own this private slice of Virginia countryside!

21. 2015-11-23
    soldstatus $158,000
22. 2015-11-20
    soldstatus $158,000 178-char remark

    Show marketing remark (178 chars)

    Large private 5 acres lot, Brand new carpet, new flooring and recently painted. Large living room with wood burning fireplace. Large eat in kitchen with 3 bedrooms, 2 full baths.

23. 2015-03-30
    listed $149,900 178-char remark

    Show marketing remark (178 chars)

    Large private 5 acres lot, Brand new carpet, new flooring and recently painted. Large living room with wood burning fireplace. Large eat in kitchen with 3 bedrooms, 2 full baths.

24. 2003-11-07
    soldstatus $132,000

ⓘ 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: $1,593 · $133/mo
• Projected year-2 tax: $2,419 · $202/mo
• Expected delta: +$826/yr (+$69/mo · 51.9%)

ⓘ 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 9/10 Extreme 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $16,943
• − Mortgage interest: −$16,525
• − Property taxes: −$1,593
• − Insurance: −$1,475
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$8,582
• Taxable loss: −$13,942
• Est. tax savings @ 24.0%: +$3,346
• After-tax cash flow: $-4,901/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: Gloucester County Public School District
• NCES district ID: 5101620
• Math proficiency: 57% ▼ -30.00%
• Reading proficiency: 73% ▼ -8.00%
• Median HH income: $60,815
• Composite: 56.19/100
• National rank: #1177
• State rank: #37 of 131 in VA

Livability — Gloucester Courthouse

• Score: 74/100
• State rank: #150
• US rank: #4823

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 23,219
• Population (ZIP): 353

Population outlook (Gloucester County) Hauer SSP2

• Today (2025): 37,437 people
• By 2030: 37,286 · -0.4%
• By 2040: 36,224 · -3.2%
• By 2050: 34,171 · -8.7%
• By 2075: 30,472 · -18.6%
• By 2100: 25,832 · -31.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 7%
• Common ancestry: Portuguese 1%

Political lean MEDSL · Gloucester

• 2024 margin: Solid R (+38.4) · D 30.4% · R 68.8%
• 2008→2024 swing: -11.5pp toward R · 2008: -26.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+35.5 2016: R+39.4 2012: R+27.9 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.74%
• Current HPI: 177.4806
• 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

+134.8% since first listed

7 events — show timeline

• 2026-04-14 Price Changed $309,900 CVRMLS
• 2026-04-06 Price Changed $324,900 CVRMLS
• 2026-03-26 Listed $339,900 CVRMLS
• 2015-11-23 Sold (Public Records) $158,000 Public Records
• 2015-11-20 Sold (MLS) $158,000 CBRAR
• 2015-03-30 Listed $149,900 CBRAR
• 2003-11-07 Sold (Public Records) $132,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,593 · +5.3% YoY. Source: county tax records.