332 Grayson St · Richmond, VA 23222

$169,000

2 bd · 1.0 ba · 754 sqft · SingleFamily public records · 42 Days on market

Built 1939 3,841 sqft lot $224/sqft · 28% below area Est $234k · 28% under

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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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 332 Grayson Street located in Henrico County in the Providence Park area. This 2 bedroom, 1 bath house has a fenced in back yard, is found on a cul de sac road, and is near shopping, highways, and downtown RVA. The interior is freshly painted and ready to move in or investor. House is being sold As Is. Don't miss this one.

Key facts

• Near downtown rva
• Near shopping
• Near highways

Tags

• FENCED IN BACK YARD
• CUL DE SAC ROAD
• NEAR SHOPPING
• NEAR HIGHWAYS
• NEAR DOWNTOWN RVA

Property features AI

Finance

• Other: Property is resale; Zoned R5; Lot on a cul-de-sac
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Block and frame construction with vinyl siding; Shingle roof; Built (actual year recorded)
• Exterior features: Front and rear porches; Porch

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Two bedrooms on the first floor
• Flooring: Vinyl
• Bathrooms: One full bathroom with tub and shower
• Heating & cooling: Heat pump heating; Electric heating; Electric cooling
• Interior features: Vinyl flooring; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/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 $145k (13.9% below list).
• Recommended offer: $145k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.2% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Henrico County Public School District (suburban): math 49% / reading 64% proficiency, ranked #68 of 131 in VA (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.4%/yr); 184 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,826 units permitted in Henrico County in 2024 (785 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Henrico County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $14k; list at $169k implies a 1066% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $145,434 (13.9% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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 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?
5. Crime grade is D 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?
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: 0.86% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 9.7

CMA / ARV

• ARV (median comp): $234,024
• List price: $169,000
• Delta: -27.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 E Laburnum Ave	0.23mi	2/1.0	768 (+2%)	2mo	$160,000	$208	84
107 E Laburnum Ave	0.22mi	2/1.0	768 (+2%)	3mo	$190,000	$247	84
324 Hunt Ave	0.13mi	2/1.0	702 (-7%)	0mo	$114,000	$162	82
3607 Edgeton Cir	0.21mi	2/1.0	720 (-4%)	13mo	$170,501	$237	72
611 Milton St	0.48mi	2/1.0	720 (-4%)	1mo	$155,000	$215	69
3621 Conway St	0.15mi	3/1.5 (+1)	816 (+8%)	11mo	$265,000	$325	64
210 W Laburnum Ave	0.49mi	2/1.0	804 (+7%)	9mo	$150,000	$187	59
506 Hunt Ave	0.33mi	2/1.0	679 (-10%)	12mo	$150,000	$221	58
3915 W Chatham Dr	0.50mi	3/1.0 (+1)	816 (+8%)	4mo	$250,000	$306	55
3507 Meadowbridge Rd	0.43mi	2/1.0	686 (-9%)	13mo	$245,000	$357	54
3511 Meadowbridge Rd	0.42mi	2/1.0	680 (-10%)	14mo	$202,000	$297	53
3223 Maryland Ave	0.74mi	3/1.0 (+1)	864 (+15%)	6mo	$240,000	$278	32

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 · 7.43% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.70×
• Total profit: $-14,013
• Equity at exit: $25,198

10-year hold

• IRR: 6.4%
• Equity multiple: 1.56×
• Total profit: $26,598
• Equity at exit: $14,612

Cash invested: $47,320 (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 23222

• Rents YoY: 7.4%
• Active inventory: 184
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,454 high
• Mortgage (P&I): −$886
• Tax from tax record: −$88 /mo · $1,053/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $104

Break-even live

Break-even rent $1,322

Max offer price $169,000

Occupancy floor 88%

Sensitivity live

Price	-10% $200	-5% $152	+0% $104	+5% $57	+10% $9
Rent	-10% $-10	-5% $47	+0% $104	+5% $162	+10% $219
Rate	-1.0pp $190	-0.5pp $147	base $104	+0.5pp $61	+1.0pp $16

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3716 Delmont St Richmond, VA	2.0	2.0	890	$1,122	$1.26	44d	1	0.07mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	18d	1	0.15mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	4d	1	0.15mi
401 Winston St Richmond, VA	2.0	1.0	784	$1,250	$1.59	2d	15	0.23mi
3800 North Ave Richmond, VA	3.0	1.0	1008	$1,650	$1.64	12d	1	0.30mi
3303 Branch Ave Richmond, VA	3.0	1.0	800	$1,300	$1.62	44d	1	0.36mi
622 Pollock St Richmond, VA	3.0	1.5	1122	$2,300	$2.05	24d	1	0.56mi
3600 Moss Side Ave Unit B Richmond, VA	2.0	1.0	800	$2,195	$2.74	44d	1	0.65mi
3117 Meadowbridge Rd Richmond, VA	2.0	1.0	887	$1,225	$1.38	44d	1	0.76mi
3418 Carolina Ave Unit A Richmond, VA	2.0	1.0	1000	$1,524	$1.52	44d	1	0.77mi
3510 Chamberlayne Ave Apt S Richmond, VA	2.0	1.0	849	$1,175	$1.38	24d	1	0.94mi
3813 Chamberlayne Ave Richmond, VA	1.0	1.0	625	$785	$1.26	44d	1	0.97mi
3503 Seminary Ave Richmond, VA	1.0	1.0	670	$1,100	$1.64	5d	1	1.00mi
3012 Chamberlayne Ave Unit 105 Richmond, VA	1.0	1.0	700	$895	$1.28	44d	1	1.04mi
3012 Chamberlayne Ave Unit 105 Richmond, VA	1.0	1.0	700	$895	$1.28	24d	1	1.04mi
3810 Chamberlayne Ave Unit G Richmond, VA	2.0	1.0	750	$1,095	$1.46	18d	1	1.04mi
3810 Chamberlayne Ave Unit B Richmond, VA	2.0	1.0	850	$1,095	$1.29	44d	1	1.04mi
3209 3rd Ave Unit A Richmond, VA	1.0	1.0	948	$995	$1.05	3d	1	1.08mi
2810 2nd Ave Richmond, VA	2.0	1.0	1120	$1,950	$1.74	44d	1	1.11mi
2420 Barton Ave Apt 2 Richmond, VA	2.0	1.0	900	$1,150	$1.28	24d	1	1.15mi
2416 Barton Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,150	$1.15	44d	1	1.17mi
3200 Brook Rd Richmond, VA	1.0–2.0	1.0–2.5	968	$2,633	$2.72	3d	20	1.18mi
3916 Chamberlayne Ave Unit 4A Richmond, VA	1.0	1.0	580	$969	$1.67	21d	1	1.20mi
3916 Chamberlayne Ave Unit 4A Richmond, VA	1.0	1.0	580	$969	$1.67	24d	1	1.20mi
2919 4th Ave #2 Richmond, VA	2.0	2.0	950	$1,287	$1.35	44d	1	1.21mi
2400 Barton Ave Richmond, VA	2.0	1.0	813	$1,245	$1.53	5d	2	1.22mi
3119 4th Ave Richmond, VA	2.0	1.0	820	$1,225	$1.49	18d	1	1.25mi
3811 Larry St Richmond, VA	3.0	1.0	840	$1,695	$2.02	24d	1	1.36mi
3811 Larry St Richmond, VA	3.0	1.0	840	$1,695	$2.02	21d	1	1.36mi
4306 Chamberlayne Ave Unit 3 Richmond, VA	1.0	1.0	872	$1,100	$1.26	3d	1	1.39mi
4306 Chamberlayne Ave Apt 4 Richmond, VA	1.0	1.0	872	$1,100	$1.26	44d	1	1.39mi
4306 Chamberlayne Ave Apt 7 Richmond, VA	1.0	1.0	872	$1,275	$1.46	3d	1	1.39mi
4306 Chamberlayne Ave Unit 5 Richmond, VA	1.0	1.0	872	$1,050	$1.20	3d	1	1.39mi
4008 Wilmont Dr Richmond, VA	3.0	1.0	1040	$2,095	$2.01	24d	1	1.40mi

Listing history 16 events

1. 2026-06-21
   days on market $169,000 Active 42 DOM
2. 2026-06-18
   days on market $169,000 Active 39 DOM
3. 2026-06-17
   days on market $169,000 Active 38 DOM
4. 2026-06-16
   days on market $169,000 Active 37 DOM
5. 2026-06-15
   days on market $169,000 Active 36 DOM
6. 2026-06-13
   days on market $169,000 Active 34 DOM
7. 2026-06-09
   days on market $169,000 Active 30 DOM
8. 2026-06-08
   days on market $169,000 Active 29 DOM
9. 2026-06-07
   days on market $169,000 Active 28 DOM
10. 2026-06-05
    days on market $169,000 Active 25 DOM
11. 2026-06-03
    days on market $169,000 Active 24 DOM
12. 2026-06-02
    days on market $169,000 Active 23 DOM
13. 2026-06-01
    days on market $169,000 Active 22 DOM
14. 2026-05-31
    days on market $169,000 Active 21 DOM
15. 2026-05-10
    listed $169,000 Active 335-char remark
16. 1985-02-01
    soldstatus $14,500

ⓘ 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: $1,053 · $88/mo
• Projected year-2 tax: $1,386 · $115/mo
• Expected delta: +$332/yr (+$28/mo · 31.6%)

ⓘ 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 8/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,452
• − Mortgage interest: −$9,467
• − Property taxes: −$1,053
• − Insurance: −$845
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$4,916
• Taxable loss: −$1,622
• Est. tax savings @ 24.0%: +$389
• After-tax cash flow: $1,643/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: Henrico County Public School District
• NCES district ID: 5101890
• Math proficiency: 49% ▼ -32.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $61,854
• Composite: 49.25/100
• National rank: #2031
• State rank: #68 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 26,322
• Household income: $61,345
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1325.0

Population outlook (Henrico County) Hauer SSP2

• Today (2025): 365,885 people
• By 2030: 384,255 · +5.0%
• By 2040: 416,688 · +13.9%
• By 2050: 442,376 · +20.9%
• By 2075: 488,037 · +33.4%
• By 2100: 487,430 · +33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 21% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Henrico

• 2024 margin: Strong D (+28.9) · D 63.7% · R 34.8% · Other 1.5%
• 2008→2024 swing: +16.6pp toward D · 2008: 12.2pp · 2024: 28.9pp
• All cycles: 2024: D+28.9 2020: D+29.0 2016: D+21.0 2012: D+11.7 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -288.72%
• Current HPI: 428.4029
• Rent YoY: ▲ 7.43%
• Metro: Richmond, VA
• 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

+1065.5% since first listed

2 events — show timeline

• 2026-05-10 Listed $169,000 CVRMLS
• 1985-02-01 Sold (Public Records) $14,500 Public Records

Property tax history

+10.6%/yr

Latest (2025): $1,053 · +17.3% YoY. Source: county tax records.