216 Burnette St · Richlands, VA 24641

$119,500

3 bd · 1.0 ba · 1,075 sqft · SingleFamily public records · 29 Days on market

Built 1950 8,712 sqft lot Est $128k · 7% 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 +16.1/30.0
• ARV discount +10.5/15.0
• Schools +6.0/10.0
• DSCR +5.0/10.0
• Appreciation +4.1/10.0
• Livability +3.3/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming one-level brick home offering 3 bedrooms, 1 full bath, and 1,075 square feet of comfortable living space. This home features hardwood floors throughout the main living areas and tile flooring in the kitchen for added durability and style. Covered back patio for outdoor enjoyment. All kitchen appliances less than 1 year old. Enjoy the convenience of single-level living with a functional layout that feels both cozy and inviting. Perfect for first-time homebuyers or downsizers Don't miss this opportunity to make this move-in-ready home your own! (Broker is owner)

Key facts

• Kitchen appliances
• Tile flooring
• Covered back patio

Tags

• HARDWOOD FLOORS
• TILE FLOORING
• COVERED BACK PATIO
• KITCHEN APPLIANCES

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story
• Construction: Brick construction; Crawl space and partial unfinished basement
• Exterior features: Shingle roof; Lot in a residential zone; Subdivision: Carter Addition

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Ceiling fan cooling
• Interior features: Dishwasher; Electric range; Refrigerator; Ceiling fan(s); Heat pump; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $61 ($733/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (18.0% below list).
• Recommended offer: $98k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.4% in Richlands — 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 66/100 on livability (#314 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, amenities F, commute F.
• Tazewell County Public School District (town): math 67% / reading 78% proficiency, ranked #21 of 131 in VA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Richlands Elementary (math 69% / reading 79%, grade A, #248 of 1,108 statewide, top 23%, 547 students, 83% FRL); Richlands Middle (math 58% / reading 71%, grade A-, #123 of 342 statewide, top 37%, 495 students, 83% FRL); Richlands High (math 68% / reading 87%, grade A-, #83 of 319 statewide, top 28%, 636 students, 82% FRL) — zoned schools average 83% FRL vs 47% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 46 active listings in the ZIP; 4 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.9%/yr); year-one equity from $826 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Tazewell County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($118k) 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: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,962 (18.0% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.82% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $127,925
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 Veterans Dr	0.42mi	3/2.0	1,231 (+14%)	8mo	$121,704	$99	46
106 Fairview St	0.65mi	3/2.0	1,000 (-7%)	10mo	$140,000	$140	46
219 Oak St	0.56mi	2/1.0 (-1)	1,018 (-5%)	20mo	$65,000	$64	43
612 Cresswood Dr	0.59mi	3/1.0	1,204 (+12%)	12mo	$157,000	$130	42
108 Ray Cir	0.64mi	3/2.0	1,152 (+7%)	23mo	$137,200	$119	35
324 Vickey St	0.66mi	2/2.0 (-1)	1,156 (+8%)	22mo	$130,000	$112	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.71×
• Total profit: $-9,790
• Equity at exit: $23,925

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $1,413
• Equity at exit: $21,133

Cash invested: $33,460 (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 24641

• Home prices YoY: -1.3%
• Active inventory: 46
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $980 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $61

Break-even live

Break-even rent $902

Max offer price $119,500

Occupancy floor 89%

Sensitivity live

Price	-10% $129	-5% $95	+0% $61	+5% $27	+10% $-7
Rent	-10% $-16	-5% $22	+0% $61	+5% $100	+10% $138
Rate	-1.0pp $121	-0.5pp $91	base $61	+0.5pp $30	+1.0pp $-1

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $119,500 Active 29 DOM
2. 2026-06-19
   days on market $119,500 Active 27 DOM
3. 2026-06-18
   price $119,500 Active 26 DOM
4. 2026-06-18
   days on market $129,500 Active 26 DOM
5. 2026-06-17
   days on market $129,500 Active 25 DOM
6. 2026-06-16
   days on market $129,500 Active 24 DOM
7. 2026-06-15
   days on market $129,500 Active 23 DOM
8. 2026-06-14
   days on market $129,500 Active 21 DOM
9. 2026-06-12
   days on market $129,500 Active 20 DOM
10. 2026-06-09
    days on market $129,500 Active 17 DOM
11. 2026-06-08
    days on market $129,500 Active 16 DOM
12. 2026-06-07
    days on market $129,500 Active 15 DOM
13. 2026-06-03
    pricedays on market $129,500 Active 11 DOM
14. 2026-06-02
    days on market $139,500 Active 10 DOM
15. 2026-06-01
    days on market $139,500 Active 9 DOM
16. 2026-05-31
    days on market $139,500 Active 8 DOM
17. 2026-05-30
    days on market $139,500 Active 7 DOM
18. 2026-05-23
    listed $139,500 Active
19. 2024-05-09
    soldstatus $125,000

ⓘ 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: $437 · $36/mo
• Projected year-2 tax: $980 · $82/mo
• Expected delta: +$543/yr (+$45/mo · 124.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,755
• − Mortgage interest: −$6,694
• − Property taxes: −$437
• − Insurance: −$598
• − Repairs & maintenance: −$940
• − Management: −$940
• − Depreciation: −$3,476
• Taxable loss: −$1,330
• Est. tax savings @ 24.0%: +$319
• After-tax cash flow: $1,052/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: Tazewell County Public School District
• NCES district ID: 5103810
• Math proficiency: 67% ▼ -23.00%
• Reading proficiency: 78% ▼ -6.00%
• Median HH income: $37,003
• Composite: 60.16/100
• National rank: #865
• State rank: #21 of 131 in VA

Livability — Richlands

• Score: 66/100
• State rank: #314
• US rank: #11229

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richlands, VA
• Population (ZIP): 5,417

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 38,275 people
• By 2030: 35,719 · -6.7%
• By 2040: 30,875 · -19.3%
• By 2050: 26,798 · -30.0%
• By 2075: 19,286 · -49.6%
• By 2100: 13,631 · -64.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Asian 2%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Tazewell

• 2024 margin: Solid R (+68.9) · D 15.3% · R 84.2%
• 2008→2024 swing: -36.0pp toward R · 2008: -32.9pp · 2024: -68.9pp
• All cycles: 2024: R+68.9 2020: R+67.2 2016: R+66.3 2012: R+57.5 2008: R+32.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.87%
• Current HPI: 141.9823
• 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

+11.6% since first listed

2 events — show timeline

• 2026-05-23 Listed $139,500 SWVAR
• 2024-05-09 Sold (Public Records) $125,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $437 · +0.0% YoY. Source: county tax records.