141 Calico Ave · Martinsville, VA 24148

$85,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 111 Days on market

Built 1940 0.75 ac lot $118/sqft · 35% below area Est $130k · 35% 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your first home or for an investment property? Take a look at this cottage with level back yard and fenced front yard! Starter home close to everything with new carpeting and paint throughout. The back yard is perfect for relaxing including an area for growing your own garden. This is a wonderful investors buy, so come take a look! The oil furnace has been serviced and is working, newer roof, newer windows, new carpet in living room. Seller will paint necessary areas with acceptable offer. All information taken from tax ticket and Seller. Property being sold as is and Buyer/Buyer Agent to verify all information. Tax information has not been updated to current year.

Key facts

• Fenced front yard
• Level back yard
• 0.75 acre lot

Tags

• LEVEL BACK YARD
• FENCED FRONT YARD
• GROWING YOUR OWN GARDEN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($889 rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 5.9% 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-.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 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 1940 — 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: 1.05% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (median comp): $130,000
• List price: $85,000
• Delta: -34.62%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-6,434
• Equity at exit: $12,674

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $3,887
• Equity at exit: $7,349

Cash invested: $23,800 (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 24148

• Home prices YoY: -11.1%
• Active inventory: 25
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $889 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $115

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 82%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $85,000 Active 111 DOM
2. 2026-06-18
   days on market $85,000 Active 110 DOM
3. 2026-06-17
   days on market $85,000 Active 109 DOM
4. 2026-06-16
   days on market $85,000 Active 108 DOM
5. 2026-06-15
   days on market $85,000 Active 107 DOM
6. 2026-06-14
   days on market $85,000 Active 105 DOM
7. 2026-06-12
   days on market $85,000 Active 104 DOM
8. 2026-06-09
   days on market $85,000 Active 101 DOM
9. 2026-06-08
   days on market $85,000 Active 100 DOM
10. 2026-06-07
    days on market $85,000 Active 99 DOM
11. 2026-06-03
    days on market $85,000 Active 95 DOM
12. 2026-06-02
    days on market $85,000 Active 94 DOM
13. 2026-06-01
    days on market $85,000 Active 93 DOM
14. 2026-05-31
    days on market $85,000 Active 92 DOM
15. 2026-05-30
    days on market $85,000 Active 91 DOM
16. 2026-02-28
    listed $85,000 Active 685-char remark

    Show marketing remark (685 chars)

    Looking for your first home or for an investment property? Take a look at this cottage with level back yard and fenced front yard! Starter home close to everything with new carpeting and paint throughout. The back yard is perfect for relaxing including an area for growing your own garden. This is a wonderful investors buy, so come take a look! The oil furnace has been serviced and is working, newer roof, newer windows, new carpet in living room. Seller will paint necessary areas with acceptable offer. All information taken from tax ticket and Seller. Property being sold as is and Buyer/Buyer Agent to verify all information. Tax information has not been updated to current year.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥103°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,670
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$854
• − Management: −$854
• − Depreciation: −$2,473
• Taxable income: $29
• Est. tax owed @ 24.0%: −$7
• After-tax cash flow: $1,374/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: Henry County Public School District
• NCES district ID: 5101920
• Math proficiency: 45% ▼ -37.00%
• Reading proficiency: 69% ▼ -6.00%
• Median HH income: $34,579
• Composite: 47.02/100
• National rank: #2345
• State rank: #78 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

• City population: 31,028
• Population (ZIP): 8,528

Population outlook (Henry County) Hauer SSP2

• Today (2025): 46,903 people
• By 2030: 44,141 · -5.9%
• By 2040: 38,687 · -17.5%
• By 2050: 33,742 · -28.1%
• By 2075: 25,720 · -45.2%
• By 2100: 19,868 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 14% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 2% Slovak 2% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+32.8) · D 33.3% · R 66.1%
• 2008→2024 swing: -22.4pp toward R · 2008: -10.5pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.1 2016: R+29.2 2012: R+14.7 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.33%
• Current HPI: 170.9641
• 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

1 event — show timeline

• 2026-02-28 Listed $85,000 MHPCAR

Property tax history

+1.2%/yr

Latest (2025): $155 · +0.0% YoY. Source: county tax records.