531 Dillard St · Martinsville, VA 24112

$90,000

2 bd · 1.0 ba · 1,034 sqft · Other public records · 118 Days on market

Built 1939 4,617 sqft lot $87/sqft · 95% above area ↓ 9% since listing

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you've been looking for a project with potential in Martinsville City, 531 Dillard Street may be the ONE! Priced to sell, this fixer-upper has already had the electrical updated, a new roof in 2016, and new flooring in the bedroom. You'll love the original 1930's hardwood floors and butcher block countertop in the kitchen! There is a large covered front porch and back deck to enjoy the outdoor space, along with the added convenience of a 6-foot privacy fence for extra seclusion and peace of mind. Motivated Seller – AS-IS/ CASH ONLY – Will not pass government loans. 24 Hour notice required to show, home is occupied. Information taken from tax assessment and/or seller. Buyer and buyer's agent to verify all information. Photos are enhanced to brighten the interior.

Key facts

• Updated electrical
• New flooring
• New roof

Tags

• UPDATED ELECTRICAL
• NEW ROOF
• NEW FLOORING
• ORIGINAL HARDWOOD FLOORS
• BUTCHER BLOCK COUNTERTOP
• LARGE COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 5.8% in Martinsville — 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 (#231 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools B; Watch: amenities F, commute F, employment D-.
• Martinsville City Public School District (town): math 29% / reading 53% proficiency, ranked #122 of 131 in VA (top 93%) — 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.
• Market conditions: 258 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5 units permitted in Martinsville city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Martinsville County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 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 1939 — 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: 1.07% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• GRM: 7.8

CMA / ARV

• ARV (median comp): $46,122
• List price: $90,000
• Delta: 95.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-717
• Equity at exit: $13,419

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $17,131
• Equity at exit: $7,782

Cash invested: $25,200 (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 24112

• Active inventory: 258
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $959 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$30 /mo · $359/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $218

Break-even live

Break-even rent $683

Max offer price $90,000

Occupancy floor 72%

Sensitivity live

Price	-10% $269	-5% $244	+0% $218	+5% $193	+10% $167
Rent	-10% $143	-5% $180	+0% $218	+5% $256	+10% $294
Rate	-1.0pp $264	-0.5pp $241	base $218	+0.5pp $195	+1.0pp $171

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
612 Church St E Apt 4 Martinsville, VA	1.0	1.0	750	$800	$1.07	45d	1	1.09mi
1002 Oak St Martinsville, VA	3.0	1.0	884	$1,263	$1.43	45d	1	1.45mi

Listing history 17 events

1. 2026-06-21
   days on market $90,000 Active 118 DOM
2. 2026-06-19
   days on market $90,000 Active 116 DOM
3. 2026-06-18
   days on market $90,000 Active 115 DOM
4. 2026-06-17
   days on market $90,000 Active 114 DOM
5. 2026-06-16
   days on market $90,000 Active 113 DOM
6. 2026-06-15
   days on market $90,000 Active 112 DOM
7. 2026-06-14
   days on market $90,000 Active 110 DOM
8. 2026-06-12
   days on market $90,000 Active 109 DOM
9. 2026-06-09
   days on market $90,000 Active 106 DOM
10. 2026-06-08
    days on market $90,000 Active 105 DOM
11. 2026-06-07
    days on market $90,000 Active 104 DOM
12. 2026-06-02
    days on market $90,000 Active 99 DOM
13. 2026-06-01
    days on market $90,000 Active 98 DOM
14. 2026-05-31
    days on market $90,000 Active 97 DOM
15. 2026-05-30
    days on market $90,000 Active 96 DOM
16. 2026-04-07
    price $90,000 787-char remark

    Show marketing remark (787 chars)

    If you've been looking for a project with potential in Martinsville City, 531 Dillard Street may be the ONE! Priced to sell, this fixer-upper has already had the electrical updated, a new roof in 2016, and new flooring in the bedroom. You'll love the original 1930's hardwood floors and butcher block countertop in the kitchen! There is a large covered front porch and back deck to enjoy the outdoor space, along with the added convenience of a 6-foot privacy fence for extra seclusion and peace of mind. Motivated Seller – AS-IS/ CASH ONLY – Will not pass government loans. 24 Hour notice required to show, home is occupied. Information taken from tax assessment and/or seller. Buyer and buyer's agent to verify all information. Photos are enhanced to brighten the interior.

17. 2026-02-23
    listed $99,000 Active 787-char remark

    Show marketing remark (787 chars)

    If you've been looking for a project with potential in Martinsville City, 531 Dillard Street may be the ONE! Priced to sell, this fixer-upper has already had the electrical updated, a new roof in 2016, and new flooring in the bedroom. You'll love the original 1930's hardwood floors and butcher block countertop in the kitchen! There is a large covered front porch and back deck to enjoy the outdoor space, along with the added convenience of a 6-foot privacy fence for extra seclusion and peace of mind. Motivated Seller – AS-IS/ CASH ONLY – Will not pass government loans. 24 Hour notice required to show, home is occupied. Information taken from tax assessment and/or seller. Buyer and buyer's agent to verify all information. Photos are enhanced to brighten the interior.

ⓘ 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: $359 · $30/mo
• Projected year-2 tax: $738 · $62/mo
• Expected delta: +$379/yr (+$32/mo · 105.8%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,509
• − Mortgage interest: −$5,041
• − Property taxes: −$359
• − Insurance: −$450
• − Repairs & maintenance: −$921
• − Management: −$921
• − Depreciation: −$2,618
• Taxable income: $1,199
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $2,332/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: Martinsville City Public School District
• NCES district ID: 5102400
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 53% ▼ -14.00%
• Median HH income: $31,215
• Composite: 33.43/100
• National rank: #5467
• State rank: #122 of 131 in VA

Livability — Martinsville

• Score: 70/100
• State rank: #231
• US rank: #7826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinsville, VA
• County: Martinsville City · 31,028 people
• City population: 31,028
• Metro: Martinsville, VA
• Population (ZIP): 31,028
• Household income: $48,770
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 888.0

Population outlook (Martinsville County) Hauer SSP2

• Today (2025): 13,026 people
• By 2030: 12,673 · -2.7%
• By 2040: 11,933 · -8.4%
• By 2050: 11,136 · -14.5%
• By 2075: 9,886 · -24.1%
• By 2100: 8,334 · -36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Martinsville

• 2024 margin: Strong D (+22.6) · D 60.7% · R 38.1% · Other 1.2%
• 2008→2024 swing: -5.4pp toward R · 2008: 28.0pp · 2024: 22.6pp
• All cycles: 2024: D+22.6 2020: D+26.6 2016: D+23.5 2012: D+24.6 2008: D+28.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.37%
• Current HPI: 172.4393
• Rent YoY: —
• Metro: Martinsville, 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

-9.1% since first listed

2 events — show timeline

• 2026-04-07 Price Changed $90,000 MHPCAR
• 2026-02-23 Listed $99,000 MHPCAR

Property tax history

+5.9%/yr

Latest (2025): $359 · +114.3% YoY. Source: county tax records.