2004 Williamsburg Rd · Richmond, VA 23231

$285,000

3 bd · 2.0 ba · 1,531 sqft · SingleFamily public records · 9 Days on market

Built 1941 7,675 sqft lot $186/sqft · 16% below area Est $340k · 16% under

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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).

• ARV discount +14.8/15.0
• Cash flow +9.1/30.0
• Livability +4.2/5.0
• Schools +3.3/10.0
• Rent growth +2.8/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Open house canceled due to acceptable contract 11/24/2019. Newly renovated Montrose Heights Cape Cod home with front Sun Room, large great room, large eat-in kitchen with high-end Kraft Made kitchen cabinets. 2nd floor open concept master suite with several closets, sitting area and water closet with pocket door. New gas furnace and central AC, large multi-tier deck, fenced back yard, garden bed, and cement pad, Insulated workshop/office/she shop/man cave 150 sqft, privacy fence around entertainment central back yard with 2 gates and plenty of rear parking. Come and see all the unique features of this move in ready house. House is being sold AS-IS. NO PARKING IN FRONT OF HOUSE!!!

Key facts

• 7,675 sq ft lot
• Built 1941
• Listed 9 days

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Off-street parking with alley access
• Utilities: Public water; Public sewer
• Home design: Two-story frame home with vinyl siding; Composition roof; Resale condition
• Construction: Frame construction with vinyl siding; Composition roof
• Exterior features: Deck; Storage shed; Fenced yard (full picket/privacy); Level lot

Interior

• Kitchen: Updated kitchen with tile floor; Granite counters
• Bedrooms: First-floor bedrooms with hardwood floors (2); Second-floor primary bedroom with hardwood floors and en suite bath
• Flooring: Wood flooring; Tile flooring
• Bathrooms: Two full bathrooms; First-floor full bath with tub and shower; Second-floor full bath with shower
• Heating & cooling: Forced air electric heating; Central electric air conditioning
• Interior features: Hardwood and tile flooring; Dining area; Granite countertops; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-218 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (28.3% below list).
• Recommended offer: $204k (28.3% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.3% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Richmond City Public School District (urban): math 32% / reading 47% proficiency, ranked #123 of 131 in VA (top 94%) — 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: Rents rising (+1.1%/yr); 186 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 32% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Richmond County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y ago 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.
• Current owner paid $200k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,398 (28.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1941 — 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 D 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. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• GRM: 11.6

CMA / ARV

• ARV (median comp): $340,208
• List price: $285,000
• Delta: -16.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 Carlisle Ave	0.16mi	3/1.0	1,471 (-4%)	2mo	$197,000	$134	81
1508 Williamsburg Rd	0.47mi	3/2.5	1,520 (-1%)	0mo	$330,000	$217	74
1332 Darbytown Rd	0.35mi	4/1.5 (+1)	1,547 (+1%)	2mo	$195,000	$126	73
2303 Carlisle Ave	0.21mi	4/1.5 (+1)	1,440 (-6%)	1mo	$240,000	$167	72
2323 Farrand Dr	0.39mi	4/2.0 (+1)	1,599 (+4%)	2mo	$366,000	$229	68
5202 Campbell Ave	0.53mi	3/2.5	1,595 (+4%)	2mo	$385,000	$241	65
2304 N Newton Cir	0.51mi	3/2.5	1,440 (-6%)	2mo	$345,000	$240	62
2670 Biscuit Ct	0.49mi	4/2.5 (+1)	1,604 (+5%)	3mo	$382,105	$238	60
5122 Salem St	0.45mi	3/2.0	1,326 (-13%)	1mo	$325,000	$245	56
1422 Carlisle Ave	0.54mi	3/3.0	1,412 (-8%)	4mo	$367,000	$260	54
5105 Salem St	0.45mi	3/2.5	1,720 (+12%)	4mo	$352,500	$205	53
1509 Nelson St	0.53mi	3/1.0	1,316 (-14%)	0mo	$295,000	$224	48

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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: -23.8%
• Equity multiple: 0.20×
• Total profit: $-64,008
• Equity at exit: $42,494

10-year hold

• IRR: -24.7%
• Equity multiple: -0.12×
• Total profit: $-89,246
• Equity at exit: $24,642

Cash invested: $79,800 (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 23231

• Rents YoY: 1.1%
• Active inventory: 186
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,044 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$219 /mo · $2,628/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $-218

Break-even live

Break-even rent $2,319

Max offer price $246,564

Occupancy floor —

Sensitivity live

Price	-10% $-56	-5% $-137	+0% $-218	+5% $-298	+10% $-379
Rent	-10% $-379	-5% $-298	+0% $-218	+5% $-137	+10% $-56
Rate	-1.0pp $-74	-0.5pp $-145	base $-218	+0.5pp $-291	+1.0pp $-367

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5319 Blueridge Ave Richmond, VA	3.0	1.0	1200	$1,914	$1.59	22d	1	0.52mi
2524 National St Henrico, VA	3.0	2.0	1144	$2,100	$1.84	44d	1	0.52mi
1400 Williamsburg Rd Richmond, VA	2.0	1.0	1315	$1,300	$0.99	44d	1	0.58mi
5410 Campbell Ave Richmond, VA	4.0	2.5	1560	$2,100	$1.35	44d	1	0.62mi
4709 Louisiana St Richmond, VA	3.0	2.5	2046	$2,600	$1.27	5d	1	1.07mi
501 Orleans St Richmond, VA	1.0–2.0	1.0–2.0	882	$2,395	$2.71	2d	9	1.12mi
501 Orleans St Richmond, VA	1.0–2.0	1.0–2.0	882	$2,395	$2.71	45d	15	1.12mi
3508 E Clay St Unit A Richmond, VA	2.0	2.0	1188	$1,899	$1.60	15d	1	1.22mi
3503 E Marshall St Unit 2 Richmond, VA	2.0	1.0	1100	$1,400	$1.27	12d	1	1.24mi
4431 Lakefield Mews Dr Henrico, VA	1.0–2.0	1.0–2.5	899	$1,664	$1.85	2d	19	1.37mi
4941 Old Main St Henrico, VA	3.0	3.5	2049	$3,295	$1.61	17d	1	1.37mi
811 N 33rd St Unit A Richmond, VA	3.0	2.0	1315	$1,900	$1.44	18d	1	1.38mi
811 N 33rd St Unit A Richmond, VA	3.0	2.0	1315	$1,900	$1.44	5d	1	1.38mi
507 N 32nd St Unit A Richmond, VA	2.0	1.0	1200	$1,995	$1.66	24d	1	1.41mi
5264 Old Main St Unit A Henrico, VA	3.0	2.5	1974	$2,950	$1.49	44d	1	1.45mi

Listing history 10 events

1. 2026-05-15
   status Pending 1308-char remark
2. 2026-05-06
   listed $285,000 Active 1308-char remark
3. 2023-11-03
   historical
4. 2023-10-11
   listed $275,000 Active
5. 2019-12-26
   soldstatus $199,900 Closed

   Show marketing remark (689 chars)

   Open house canceled due to acceptable contract 11/24/2019. Newly renovated Montrose Heights Cape Cod home with front Sun Room, large great room, large eat-in kitchen with high-end Kraft Made kitchen cabinets. 2nd floor open concept master suite with several closets, sitting area and water closet with pocket door. New gas furnace and central AC, large multi-tier deck, fenced back yard, garden bed, and cement pad, Insulated workshop/office/she shop/man cave 150 sqft, privacy fence around entertainment central back yard with 2 gates and plenty of rear parking. Come and see all the unique features of this move in ready house. House is being sold AS-IS. NO PARKING IN FRONT OF HOUSE!!!

6. 2019-11-24
   status Pending

   Show marketing remark (689 chars)

   Open house canceled due to acceptable contract 11/24/2019. Newly renovated Montrose Heights Cape Cod home with front Sun Room, large great room, large eat-in kitchen with high-end Kraft Made kitchen cabinets. 2nd floor open concept master suite with several closets, sitting area and water closet with pocket door. New gas furnace and central AC, large multi-tier deck, fenced back yard, garden bed, and cement pad, Insulated workshop/office/she shop/man cave 150 sqft, privacy fence around entertainment central back yard with 2 gates and plenty of rear parking. Come and see all the unique features of this move in ready house. House is being sold AS-IS. NO PARKING IN FRONT OF HOUSE!!!

7. 2019-11-22
   listed $199,900 Active

   Show marketing remark (689 chars)

   Open house canceled due to acceptable contract 11/24/2019. Newly renovated Montrose Heights Cape Cod home with front Sun Room, large great room, large eat-in kitchen with high-end Kraft Made kitchen cabinets. 2nd floor open concept master suite with several closets, sitting area and water closet with pocket door. New gas furnace and central AC, large multi-tier deck, fenced back yard, garden bed, and cement pad, Insulated workshop/office/she shop/man cave 150 sqft, privacy fence around entertainment central back yard with 2 gates and plenty of rear parking. Come and see all the unique features of this move in ready house. House is being sold AS-IS. NO PARKING IN FRONT OF HOUSE!!!

8. 2019-06-12
   historical
9. 2019-05-31
   listed $179,500 Active
10. 2019-04-03
    soldstatus $59,000

ⓘ 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: $2,628 · $219/mo
• Projected year-2 tax: $2,628 · $219/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $24,528
• − Mortgage interest: −$15,964
• − Property taxes: −$2,628
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − Depreciation: −$8,291
• Taxable loss: −$7,705
• Est. tax savings @ 24.0%: +$1,849
• After-tax cash flow: $-762/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: Richmond City Public School District
• NCES district ID: 5103240
• Math proficiency: 32% ▼ -24.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $40,276
• Composite: 33.09/100
• National rank: #5564
• State rank: #123 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, VA
• County: Henrico County · 334,490 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 38,544
• Household income: $76,505
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1555.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 262,263 people
• By 2030: 284,503 · +8.5%
• By 2040: 327,353 · +24.8%
• By 2050: 367,946 · +40.3%
• By 2075: 449,560 · +71.4%
• By 2100: 500,301 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (59%)
• Race & ethnicity: Black 59% White 34% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 1% Serbian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+66.3) · D 82.0% · R 15.8% · Other 2.2%
• 2008→2024 swing: +7.2pp toward D · 2008: 59.1pp · 2024: 66.3pp
• All cycles: 2024: D+66.3 2020: D+68.0 2016: D+63.8 2012: D+55.7 2008: D+59.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -207.28%
• Current HPI: 315.8154
• Rent YoY: ▲ 1.06%
• Metro: Richmond, 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

+383.1% since first listed

10 events — show timeline

• 2026-05-15 Pending — CVRMLS
• 2026-05-06 Listed $285,000 CVRMLS
• 2023-11-03 Listing Removed — CVRMLS
• 2023-10-11 Listed $275,000 CVRMLS
• 2019-12-26 Sold (MLS) $199,900 CVRMLS
• 2019-11-24 Pending — CVRMLS
• 2019-11-22 Listed $199,900 CVRMLS
• 2019-06-12 Listing Removed — CVRMLS
• 2019-05-31 Listed $179,500 CVRMLS
• 2019-04-03 Sold (Public Records) $59,000 Public Records

Property tax history

+7.6%/yr

Latest (2022): $2,628 · +180.8% YoY. Source: county tax records.