97 Southland Dr · Martinsville, VA 24112

$101,078

3 bd · 2.0 ba · 2,052 sqft · SingleFamily public records · 55 Days on market

Built 1999 0.34 ac lot $49/sqft · 39% below area Est $165k · 39% under

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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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• 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

Opportunity knocks with this spacious 1999 doublewide manufactured home offering over 2,000 sq. ft. of potential. With 4 bedrooms and 2.5 baths, the layout provides plenty of room to reimagine and create value for homeowners or investors alike. Inside, you'll find a generous kitchen with ample cabinetry, a center island, and an open flow into the family room highlights by a cozy fireplace. The home is situated on a manageable . 34-acre lot with a gravel driveway. This property does require renovation and is priced with that in mind. Needed repairs include, but not limited to, flooring, HVAC, plumbing, interior paint, & a new rear deck. Both the main bath & half bath are currently

Key facts

• 0.34 acre lot
• Built 1999
• Listed 54 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Composition roof; Crawl space foundation
• Exterior features: Deck; Level lot

Interior

• Kitchen: Electric water heater
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air; Ceiling fans; Electric heating
• Interior features: Walk-in closets; Wood-burning fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $101k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $101k).
• Recommended offer: $98k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: 256 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 $698 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• 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 $98,045 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 10.49%
• Cash-on-cash: 15.00%
• DSCR: 1.67
• GRM: 6.9

CMA / ARV

• ARV (median comp): $165,000
• List price: $101,078
• Delta: -38.74%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 Fisher Farm Rd	0.11mi	3/2.0	2,112 (+3%)	22mo	$170,000	$80	72
300 Oxford Dr	0.50mi	3/2.5	1,804 (-12%)	2mo	$235,000	$130	53

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: 5.6%
• Equity multiple: 1.22×
• Total profit: $6,111
• Equity at exit: $15,071

10-year hold

• IRR: 14.9%
• Equity multiple: 2.21×
• Total profit: $34,176
• Equity at exit: $8,739

Cash invested: $28,302 (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: 256
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$530
• Tax from tax record: −$35 /mo · $415/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $354

Break-even live

Break-even rent $768

Max offer price $101,078

Occupancy floor 66%

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: $25,270
• Closing costs: $3,032
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $101,078 Active 55 DOM
2. 2026-06-18
   days on market $101,078 Active 54 DOM
3. 2026-06-17
   days on market $101,078 Active 53 DOM
4. 2026-06-16
   days on market $101,078 Active 52 DOM
5. 2026-06-15
   days on market $101,078 Active 51 DOM
6. 2026-06-14
   days on market $101,078 Active 49 DOM
7. 2026-06-12
   statusdays on market $101,078 Active 48 DOM
8. 2026-06-09
   days on market $101,078 Active Under Contract 45 DOM
9. 2026-06-08
   days on market $101,078 Active Under Contract 44 DOM
10. 2026-06-07
    days on market $101,078 Active Under Contract 43 DOM
11. 2026-06-03
    days on market $101,078 Active Under Contract 39 DOM
12. 2026-06-02
    days on market $101,078 Active Under Contract 38 DOM
13. 2026-06-01
    days on market $101,078 Active Under Contract 37 DOM
14. 2026-05-31
    days on market $101,078 Active Under Contract 36 DOM
15. 2026-05-30
    days on market $101,078 Active Under Contract 35 DOM
16. 2026-05-14
    historical Active Under Contract 1135-char remark
17. 2026-04-25
    listed $101,078 Active 1135-char remark

ⓘ 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: $415 · $35/mo
• Projected year-2 tax: $829 · $69/mo
• Expected delta: +$414/yr (+$34/mo · 99.7%)

ⓘ 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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $14,590
• − Mortgage interest: −$5,662
• − Property taxes: −$415
• − Insurance: −$505
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$2,940
• Taxable income: $2,732
• Est. tax owed @ 24.0%: −$656
• After-tax cash flow: $3,589/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

• 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 (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: 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 · 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: ▼ -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

3 events — show timeline

• 2026-06-11 Relisted — MHPCAR
• 2026-05-14 Contingent — MHPCAR
• 2026-04-25 Listed $101,078 MHPCAR

Property tax history

+0.7%/yr

Latest (2025): $415 · +0.0% YoY. Source: county tax records.