1068 Prospect Ave · Bristol, VA 24201

$194,900

4 bd · 2.0 ba · 1,412 sqft · SingleFamily public records · 58 Days on market

Built 1961 7,500 sqft lot $138/sqft · 11% above area Est $187k · at est.

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +5.7/15.0
• 1% rule +5.2/10.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This corner lot features a charming three-bedroom, one-bathroom home in excellent condition. Located in a desirable area, it offers convenient access to I-81, shopping at Pinnacle, the Hard Rock Casino, schools, and grocery stores, and downtown Bristol. The property includes a cozy fireplace with gas logs, a spacious deck, and a delightful sunroom. The updated kitchen complements the expansive backyard, which includes a carport and a full unfinished basement. Schedule your showing today! Owner/Agent

Key facts

• Delightful sunroom
• Convenient access
• Spacious deck

Tags

• CORNER LOT
• CONVENIENT ACCESS
• COZY FIREPLACE
• SPACIOUS DECK
• DELIGHTFUL SUNROOM
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.9% in Bristol — 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 (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bristol City Public School District (urban): math 57% / reading 70% proficiency, ranked #53 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 156 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 15 units permitted in Bristol city in 2024 (5 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 $6k of value loss. Plan a longer hold.
• Bristol County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $195k implies a 95% gain — meaningful room to come down on a strong offer.

Recommended offer $189,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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 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?
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: 1.02% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (median comp): $187,208
• List price: $194,900
• Delta: 4.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
461 Douglas St	0.62mi	4/2.0	1,418 (+0%)	5mo	$193,500	$136	66
332 Randolph St	0.46mi	3/2.0 (-1)	1,342 (-5%)	1mo	$215,000	$160	64
617 Prince St	0.16mi	3/1.0 (-1)	1,228 (-13%)	8mo	$232,000	$189	56
726 Lawrence Ave	0.26mi	3/1.0 (-1)	1,205 (-15%)	3mo	$194,000	$161	52
615 Prince St	0.16mi	3/2.5 (-1)	1,600 (+13%)	16mo	$290,000	$181	50
1205 Euclid Ave	0.22mi	3/2.0 (-1)	1,207 (-14%)	17mo	$165,000	$137	46
351 Hill Park Dr	0.54mi	3/1.0 (-1)	1,316 (-7%)	21mo	$145,000	$110	37
420 Douglas St	0.66mi	3/1.0 (-1)	1,588 (+12%)	8mo	$227,000	$143	33
1000 Sycamore St	0.50mi	3/1.0 (-1)	1,593 (+13%)	20mo	$140,000	$88	30

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: -2.8%
• Equity multiple: 0.90×
• Total profit: $-5,719
• Equity at exit: $29,060

10-year hold

• IRR: 6.9%
• Equity multiple: 1.51×
• Total profit: $28,103
• Equity at exit: $16,851

Cash invested: $54,572 (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 24201

• Active inventory: 156
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $407

Break-even live

Break-even rent $1,480

Max offer price $194,900

Occupancy floor 75%

Sensitivity live

Price	-10% $518	-5% $462	+0% $407	+5% $352	+10% $297
Rent	-10% $250	-5% $328	+0% $407	+5% $486	+10% $565
Rate	-1.0pp $505	-0.5pp $457	base $407	+0.5pp $357	+1.0pp $305

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1216 Norway St Unit 101 Bristol, VA	4.0	2.0	1615	$2,100	$1.30	14d	1	0.68mi
1405 Newton St Bristol, VA	3.0	1.0	1200	$1,600	$1.33	14d	1	0.76mi
1718 Clifton Rd Bristol, TN	3.0	1.5	1672	$1,900	$1.14	44d	1	1.25mi
2510 Catherine St Bristol, VA	3.0	2.0	1418	$2,500	$1.76	14d	1	1.35mi
145 Midway St Unit 1397968P Bristol, VA	3.0	2.0	1388	$5,335	$3.84	22d	1	1.42mi

Listing history 18 events

1. 2026-06-17
   days on market $194,900 Active 58 DOM
2. 2026-06-16
   days on market $194,900 Active 57 DOM
3. 2026-06-15
   days on market $194,900 Active 56 DOM
4. 2026-06-14
   days on market $194,900 Active 54 DOM
5. 2026-06-13
   days on market $194,900 Active 53 DOM
6. 2026-06-10
   days on market $194,900 Active 51 DOM
7. 2026-06-09
   days on market $194,900 Active 50 DOM
8. 2026-06-08
   days on market $194,900 Active 49 DOM
9. 2026-06-07
   statusdays on market $194,900 Active 48 DOM
10. 2026-05-18
    price $194,900 504-char remark

    Show marketing remark (504 chars)

    This corner lot features a charming three-bedroom, one-bathroom home in excellent condition. Located in a desirable area, it offers convenient access to I-81, shopping at Pinnacle, the Hard Rock Casino, schools, and grocery stores, and downtown Bristol. The property includes a cozy fireplace with gas logs, a spacious deck, and a delightful sunroom. The updated kitchen complements the expansive backyard, which includes a carport and a full unfinished basement. Schedule your showing today! Owner/Agent

11. 2026-05-12
    price $199,900 504-char remark

    Show marketing remark (504 chars)

    This corner lot features a charming three-bedroom, one-bathroom home in excellent condition. Located in a desirable area, it offers convenient access to I-81, shopping at Pinnacle, the Hard Rock Casino, schools, and grocery stores, and downtown Bristol. The property includes a cozy fireplace with gas logs, a spacious deck, and a delightful sunroom. The updated kitchen complements the expansive backyard, which includes a carport and a full unfinished basement. Schedule your showing today! Owner/Agent

12. 2026-04-27
    price $200,000 504-char remark

    Show marketing remark (504 chars)

    This corner lot features a charming three-bedroom, one-bathroom home in excellent condition. Located in a desirable area, it offers convenient access to I-81, shopping at Pinnacle, the Hard Rock Casino, schools, and grocery stores, and downtown Bristol. The property includes a cozy fireplace with gas logs, a spacious deck, and a delightful sunroom. The updated kitchen complements the expansive backyard, which includes a carport and a full unfinished basement. Schedule your showing today! Owner/Agent

13. 2026-04-21
    price $207,000 504-char remark

    Show marketing remark (504 chars)

    This corner lot features a charming three-bedroom, one-bathroom home in excellent condition. Located in a desirable area, it offers convenient access to I-81, shopping at Pinnacle, the Hard Rock Casino, schools, and grocery stores, and downtown Bristol. The property includes a cozy fireplace with gas logs, a spacious deck, and a delightful sunroom. The updated kitchen complements the expansive backyard, which includes a carport and a full unfinished basement. Schedule your showing today! Owner/Agent

14. 2026-04-13
    listed $210,000 Active 504-char remark

    Show marketing remark (504 chars)

    This corner lot features a charming three-bedroom, one-bathroom home in excellent condition. Located in a desirable area, it offers convenient access to I-81, shopping at Pinnacle, the Hard Rock Casino, schools, and grocery stores, and downtown Bristol. The property includes a cozy fireplace with gas logs, a spacious deck, and a delightful sunroom. The updated kitchen complements the expansive backyard, which includes a carport and a full unfinished basement. Schedule your showing today! Owner/Agent

15. 2021-08-27
    soldstatus $100,000
16. 2015-12-15
    soldstatus $88,000 204-char remark

    Show marketing remark (204 chars)

    Corner lot. Excellent condition. Well maintained. Great area, near I-81, shopping. Gas logs in fireplace. Huge deck. New heating/AC system installed. Recent roof. CONTINGENT UPON INSPECTION AND FINANCING.

17. 2015-12-15
    soldstatus $88,000

    Show marketing remark (204 chars)

    Corner lot. Excellent condition. Well maintained. Great area, near I-81, shopping. Gas logs in fireplace. Huge deck. New heating/AC system installed. Recent roof. CONTINGENT UPON INSPECTION AND FINANCING.

18. 2015-10-05
    listed $87,500 204-char remark

    Show marketing remark (204 chars)

    Corner lot. Excellent condition. Well maintained. Great area, near I-81, shopping. Gas logs in fireplace. Huge deck. New heating/AC system installed. Recent roof. CONTINGENT UPON INSPECTION AND FINANCING.

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $1,598 · $133/mo
• Expected delta: +$807/yr (+$67/mo · 101.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,948
• − Mortgage interest: −$10,917
• − Property taxes: −$791
• − Insurance: −$974
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − Depreciation: −$5,670
• Taxable income: $1,763
• Est. tax owed @ 24.0%: −$423
• After-tax cash flow: $4,465/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: Bristol City Public School District
• NCES district ID: 5100450
• Math proficiency: 57% ▼ -24.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $33,978
• Composite: 52.4/100
• National rank: #1579
• State rank: #53 of 131 in VA

Livability — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, VA
• City population: 16,039
• Population (ZIP): 16,039

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 16,113 people
• By 2030: 15,510 · -3.7%
• By 2040: 14,121 · -12.4%
• By 2050: 12,847 · -20.3%
• By 2075: 9,870 · -38.7%
• By 2100: 7,883 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Serbian 1% Iranian 0%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Bristol

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -13.6pp toward R · 2008: -26.0pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+38.9 2016: R+43.8 2012: R+31.1 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.40%
• Current HPI: 196.2099
• 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

+122.7% since first listed

9 events — show timeline

• 2026-05-18 Price Changed $194,900 TVRMLS
• 2026-05-12 Price Changed $199,900 TVRMLS
• 2026-04-27 Price Changed $200,000 TVRMLS
• 2026-04-21 Price Changed $207,000 TVRMLS
• 2026-04-13 Listed $210,000 TVRMLS
• 2021-08-27 Sold (Public Records) $100,000 Public Records
• 2015-12-15 Sold (Public Records) $88,000 Public Records
• 2015-12-15 Sold (MLS) $88,000 TVRMLS
• 2015-10-05 Listed $87,500 TVRMLS