318 Monroe St · Chase City, VA 23924

$45,000

2 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 54 Days on market

Built 1960 10,454 sqft lot $44/sqft · 58% 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
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

INVESTMENT OPPORTUNITY in growing Chase City Virginia! This cute home has endless potential for the investor or flipper! Situated in the town of Chase City, this property is just a short drive from many Microsoft locations as well as 50,000 acre Kerr Lake. Don't miss out on this investment opportunity!

Key facts

• 0.24 acre lot
• Built 1960
• Listed 54 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story home; Resale property
• Construction: Brick and vinyl siding exterior; Metal roof
• Exterior features: Lot size approximately 0.24 acres

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom with shower (located on the first floor)
• Heating & cooling: Electric heating
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $813 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.0% vs local median 7.3% in Chase City — 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 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 $1k of equity ($311 loan paydown + $918 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 22% 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 $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.04% ✓
• Cap rate: 27.96%
• Cash-on-cash: 77.39%
• DSCR: 4.44
• GRM: 2.7

CMA / ARV

• ARV (median comp): $107,712
• List price: $45,000
• Delta: -58.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
437 Monroe St	0.15mi	2/1.0	996 (-2%)	8mo	$89,000	$89	82
805 W 2nd St	0.07mi	3/2.0 (+1)	1,019 (-0%)	23mo	$96,000	$94	68
501 W 3rd St	0.16mi	3/1.0 (+1)	920 (-10%)	4mo	$85,000	$92	68
236 W Fifth St	0.38mi	3/1.0 (+1)	1,016 (-0%)	23mo	$25,000	$25	57
226 N Washington St	0.36mi	1/1.0 (-1)	940 (-8%)	10mo	$79,000	$84	57
308 N Washington St	0.37mi	2/1.0	880 (-14%)	8mo	$30,000	$34	53
500 W 5th St	0.25mi	2/1.0	1,165 (+14%)	20mo	$22,500	$19	48

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: 81.1%
• Equity multiple: 5.36×
• Total profit: $54,924
• Equity at exit: $17,846

10-year hold

• IRR: 81.3%
• Equity multiple: 10.99×
• Total profit: $125,896
• Equity at exit: $25,772

Cash invested: $12,600 (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 23924

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,366 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$12 /mo · $145/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $813

Break-even live

Break-even rent $338

Max offer price $45,000

Occupancy floor 36%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
761 W 5th St Chase City, VA	3.0	1.0	1040	$1,300	$1.25	14d	1	0.24mi
1035 Roark St Chase City, VA	2.0	1.0	892	$1,800	$2.02	14d	1	1.38mi

Listing history 24 events

1. 2026-06-18
   days on market $45,000 Active 54 DOM
2. 2026-06-17
   days on market $45,000 Active 53 DOM
3. 2026-06-16
   days on market $45,000 Active 52 DOM
4. 2026-06-15
   days on market $45,000 Active 51 DOM
5. 2026-06-14
   days on market $45,000 Active 49 DOM
6. 2026-06-13
   days on market $45,000 Active 48 DOM
7. 2026-06-10
   days on market $45,000 Active 46 DOM
8. 2026-06-09
   days on market $45,000 Active 45 DOM
9. 2026-06-08
   days on market $45,000 Active 44 DOM
10. 2026-06-07
    days on market $45,000 Active 43 DOM
11. 2026-06-05
    days on market $45,000 Active 40 DOM
12. 2026-06-03
    days on market $45,000 Active 39 DOM
13. 2026-06-02
    days on market $45,000 Active 38 DOM
14. 2026-06-01
    days on market $45,000 Active 37 DOM
15. 2026-05-31
    days on market $45,000 Active 36 DOM
16. 2026-05-31
    days on market $45,000 Active 35 DOM
17. 2026-05-05
    price $49,990 633-char remark
18. 2026-04-25
    listed $55,000 Active 633-char remark
19. 2025-07-22
    soldstatus $39,000 Closed 303-char remark

    Show marketing remark (303 chars)

    INVESTMENT OPPORTUNITY in growing Chase City Virginia! This cute home has endless potential for the investor or flipper! Situated in the town of Chase City, this property is just a short drive from many Microsoft locations as well as 50,000 acre Kerr Lake. Don't miss out on this investment opportunity!

20. 2025-07-03
    status Pending 303-char remark

    Show marketing remark (303 chars)

    INVESTMENT OPPORTUNITY in growing Chase City Virginia! This cute home has endless potential for the investor or flipper! Situated in the town of Chase City, this property is just a short drive from many Microsoft locations as well as 50,000 acre Kerr Lake. Don't miss out on this investment opportunity!

21. 2025-03-20
    price $39,000 303-char remark

    Show marketing remark (303 chars)

    INVESTMENT OPPORTUNITY in growing Chase City Virginia! This cute home has endless potential for the investor or flipper! Situated in the town of Chase City, this property is just a short drive from many Microsoft locations as well as 50,000 acre Kerr Lake. Don't miss out on this investment opportunity!

22. 2025-03-09
    listed $45,000 Active 303-char remark

    Show marketing remark (303 chars)

    INVESTMENT OPPORTUNITY in growing Chase City Virginia! This cute home has endless potential for the investor or flipper! Situated in the town of Chase City, this property is just a short drive from many Microsoft locations as well as 50,000 acre Kerr Lake. Don't miss out on this investment opportunity!

23. 2024-06-12
    soldstatus $29,000
24. 2004-03-15
    soldstatus $30,000

ⓘ 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: $145 · $12/mo
• Projected year-2 tax: $369 · $31/mo
• Expected delta: +$224/yr (+$19/mo · 155.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% 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: $16,396
• − Mortgage interest: −$2,521
• − Property taxes: −$145
• − Insurance: −$225
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$1,309
• Taxable income: $9,573
• Est. tax owed @ 24.0%: −$2,298
• After-tax cash flow: $7,454/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

+50.0% since first listed

9 events — show timeline

• 2026-05-21 Price Changed $45,000 CVRMLS
• 2026-05-05 Price Changed $49,990 CVRMLS
• 2026-04-25 Listed $55,000 CVRMLS
• 2025-07-22 Sold (MLS) $39,000 SPLLAR
• 2025-07-03 Pending — SPLLAR
• 2025-03-20 Price Changed $39,000 SPLLAR
• 2025-03-09 Listed $45,000 SPLLAR
• 2024-06-12 Sold (Public Records) $29,000 Public Records
• 2004-03-15 Sold (Public Records) $30,000 Public Records

Property tax history

+11.1%/yr

Latest (2025): $145 · +0.0% YoY. Source: county tax records.