1721 Grace St · South Boston, VA 24592

$29,500

3 bd · 1.0 ba · 1,483 sqft · SingleFamily public records · 118 Days on market

Built 1950 0.33 ac lot $20/sqft · 82% below area ↓ 9% 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1400 +/- sq. .ft. home located in the town limits of South Boston. Property requires TLC but offers strong investment potential. Ideal for rental, flip or first-time home buyer looking to build equity. Sold AS IS

Key facts

• 0.33 acre lot
• Built 1950
• Listed 117 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $900 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 42.9% vs local median 4.9% in South Boston — 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 74/100 on livability (#147 in VA, #4,742 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Halifax County Public School District (town): math 29% / reading 59% proficiency, ranked #116 of 131 in VA (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $204 of loan paydown is wiped out by about $885 of value loss. Plan a longer hold.
• Halifax County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,845 (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 1950 — 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. Crime grade is F 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.66% ✓
• Cap rate: 42.90%
• Cash-on-cash: 130.74%
• DSCR: 6.82
• GRM: 1.8

CMA / ARV

• ARV (median comp): $167,982
• List price: $29,500
• Delta: -82.44%
• 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
104 Elizabeth Ct	0.55mi	3/1.5	1,443 (-3%)	4mo	$200,000	$139	64
1705 Wilkerson St	0.41mi	4/2.0 (+1)	1,369 (-8%)	19mo	$250,000	$183	44
2021 N Main St	0.44mi	3/2.0	1,260 (-15%)	10mo	$30,000	$24	43
831 Traver Ave	0.70mi	4/1.5 (+1)	1,368 (-8%)	10mo	$175,000	$128	39
1002 John Randolph Blvd	0.59mi	3/2.0	1,702 (+15%)	7mo	$85,000	$50	38
837 North Main St	0.70mi	4/2.0 (+1)	1,650 (+11%)	15mo	$105,000	$64	27
814 Marshall Ave	0.72mi	4/2.0 (+1)	1,664 (+12%)	12mo	$140,000	$84	27

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.36×
• Total profit: $52,547
• Equity at exit: $4,399

10-year hold

• IRR: —
• Equity multiple: 15.48×
• Total profit: $119,602
• Equity at exit: $2,551

Cash invested: $8,260 (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 24592

• Home prices YoY: -27.0%
• Active inventory: 61
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$155
• Tax from tax record: −$19 /mo · $232/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $900

Break-even live

Break-even rent $236

Max offer price $29,500

Occupancy floor 30%

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: $7,375
• Closing costs: $885
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Jefferson Ave Apt 113 South Boston, VA	2.0	2.0	1119	$1,375	$1.23	43d	1	0.89mi

Listing history 17 events

1. 2026-06-18
   days on market $29,500 Active 118 DOM
2. 2026-06-17
   days on market $29,500 Active 117 DOM
3. 2026-06-16
   pricedays on market $29,500 Active 116 DOM
4. 2026-06-15
   days on market $49,900 Active 115 DOM
5. 2026-06-15
   days on market $49,900 Active 114 DOM
6. 2026-06-13
   days on market $49,900 Active 113 DOM
7. 2026-06-12
   days on market $49,900 Active 112 DOM
8. 2026-06-09
   days on market $49,900 Active 109 DOM
9. 2026-06-08
   days on market $49,900 Active 108 DOM
10. 2026-06-08
    days on market $49,900 Active 107 DOM
11. 2026-06-07
    days on market $49,900 Active 106 DOM
12. 2026-06-03
    days on market $49,900 Active 103 DOM
13. 2026-06-02
    days on market $49,900 Active 102 DOM
14. 2026-06-01
    days on market $49,900 Active 101 DOM
15. 2026-05-31
    days on market $49,900 Active 100 DOM
16. 2026-03-28
    price $49,900 212-char remark

    Show marketing remark (212 chars)

    1400 +/- sq. .ft. home located in the town limits of South Boston. Property requires TLC but offers strong investment potential. Ideal for rental, flip or first-time home buyer looking to build equity. Sold AS IS

17. 2026-02-20
    listed $54,900 Active 212-char remark

    Show marketing remark (212 chars)

    1400 +/- sq. .ft. home located in the town limits of South Boston. Property requires TLC but offers strong investment potential. Ideal for rental, flip or first-time home buyer looking to build equity. Sold AS IS

ⓘ 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: $232 · $19/mo
• Projected year-2 tax: $242 · $20/mo
• Expected delta: +$10/yr (+$1/mo · 4.3%)

ⓘ 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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $16,500
• − Mortgage interest: −$1,652
• − Property taxes: −$232
• − Insurance: −$148
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$858
• Taxable income: $10,970
• Est. tax owed @ 24.0%: −$2,633
• After-tax cash flow: $8,166/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: Halifax County Public School District
• NCES district ID: 5101770
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 59% ▼ -15.00%
• Median HH income: $36,137
• Composite: 36.36/100
• National rank: #4687
• State rank: #116 of 131 in VA

Livability — South Boston

• Score: 74/100
• State rank: #147
• US rank: #4742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Boston, VA
• Population (ZIP): 14,411

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 32,892 people
• By 2030: 31,438 · -4.4%
• By 2040: 28,350 · -13.8%
• By 2050: 25,553 · -22.3%
• By 2075: 20,217 · -38.5%
• By 2100: 14,645 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 40% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Halifax

• 2024 margin: Strong R (+21.1) · D 39.1% · R 60.2%
• 2008→2024 swing: -18.2pp toward R · 2008: -2.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+15.1 2016: R+16.6 2012: R+5.6 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.37%
• Current HPI: 190.3767
• 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

-9.1% since first listed

2 events — show timeline

• 2026-03-28 Price Changed $49,900 SPLLAR
• 2026-02-20 Listed $54,900 SPLLAR

Property tax history

-0.7%/yr

Latest (2025): $232 · +0.0% YoY. Source: county tax records.