3723 North Ave · Richmond, VA 23222

$210,000

3 bd · 1.0 ba · 885 sqft · SingleFamily public records · 6 Days on market

Built 1946 8,450 sqft lot Est $224k · 6% 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).

• Cash flow +13.6/30.0
• ARV discount +10.3/15.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Schools +3.3/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a move-in ready home in Richmond, Virginia that’s close to downtown, full of character, and priced under $250K? This home on North Ave might be exactly what you’ve been searching for. If you’ve been asking: “Where can I find an affordable home near downtown Richmond VA?” “Are there renovated homes for sale in Richmond under $250K?” “What neighborhoods in Richmond offer value and convenience?” This property checks all the boxes. Located at 3723 North Ave in Richmond’s Northside, this home offers the perfect mix of accessibility, charm, and value. Whether you're a first-time homebuyer, an investor looking for rent

Key facts

• 8,450 sq ft lot
• Built 1946
• Listed 6 days

Property features AI

Exterior

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• Home design: 3723 North Ave, Richmond, VA 23222
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Interior

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What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $12 ($141/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 $168k (20.0% below list).
• Recommended offer: $168k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.2% 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.
• Zoned schools: Ginter Park Elementary (math 5% / reading 34%, grade F, #1,082 of 1,108 statewide, top 98%, 290 students, 99% FRL); Henderson Middle (math 37% / reading 54%, grade D+, #267 of 342 statewide, top 78%, 430 students, 98% FRL); John Marshall High (math 37% / reading 74%, grade C, #278 of 319 statewide, top 87%, 600 students, 113% FRL) — zoned schools average 103% FRL vs 74% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.4%/yr); 185 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 33% of the median local income ($61k/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 $1k of loan paydown is wiped out by about $6k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $12k; list at $210k implies a 1580% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,041 (20.0% below list)

Questions for the listing agent

1. Built in 1946 — 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 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?
4. 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?
5. 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?
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: 0.80% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $223,905
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3723 North Ave	0.00mi	3/1.0	885 (0%)	1mo	$223,500	$253	99
109 E Laburnum Ave	0.25mi	2/1.0 (-1)	909 (+3%)	3mo	$229,900	$253	76
3915 W Chatham Dr	0.28mi	3/1.0	816 (-8%)	4mo	$250,000	$306	71
3600 Garland Ave	0.20mi	3/2.0	972 (+10%)	3mo	$316,000	$325	68
326 Hunt Ave	0.42mi	2/1.0 (-1)	940 (+6%)	1mo	$249,950	$266	64
210 W Laburnum Ave	0.20mi	2/1.0 (-1)	804 (-9%)	9mo	$150,000	$187	63
3621 Conway St	0.30mi	3/1.5	816 (-8%)	11mo	$265,000	$325	62
105 E Laburnum Ave	0.23mi	2/1.0 (-1)	768 (-13%)	2mo	$160,000	$208	60
107 E Laburnum Ave	0.24mi	2/1.0 (-1)	768 (-13%)	3mo	$190,000	$247	60
4205 Corbin St	0.58mi	2/1.0 (-1)	832 (-6%)	4mo	$175,000	$210	55
3311 Donnan St	0.42mi	3/2.0	968 (+9%)	10mo	$250,000	$258	52
716 Lincoln Ave	0.67mi	3/2.0	960 (+8%)	7mo	$213,000	$222	45

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 · 7.43% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.57×
• Total profit: $-25,514
• Equity at exit: $31,312

10-year hold

• IRR: 2.8%
• Equity multiple: 1.23×
• Total profit: $13,698
• Equity at exit: $18,157

Cash invested: $58,800 (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 23222

• Rents YoY: 7.4%
• Active inventory: 185
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,680 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$127 /mo · $1,524/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $12

Break-even live

Break-even rent $1,666

Max offer price $210,000

Occupancy floor 94%

Sensitivity live

Price	-10% $131	-5% $71	+0% $12	+5% $-48	+10% $-107
Rent	-10% $-121	-5% $-55	+0% $12	+5% $78	+10% $145
Rate	-1.0pp $118	-0.5pp $65	base $12	+0.5pp $-43	+1.0pp $-98

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3800 North Ave Richmond, VA	3.0	1.0	1008	$1,650	$1.64	13d	1	0.06mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	18d	1	0.23mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	4d	1	0.23mi
3600 Moss Side Ave Unit B Richmond, VA	2.0	1.0	800	$2,195	$2.74	45d	1	0.34mi
3716 Delmont St Richmond, VA	2.0	2.0	890	$1,122	$1.26	45d	1	0.39mi
401 Winston St Richmond, VA	2.0	1.0	784	$1,250	$1.59	3d	15	0.54mi
3303 Branch Ave Richmond, VA	3.0	1.0	800	$1,300	$1.62	45d	1	0.61mi
3510 Chamberlayne Ave Apt S Richmond, VA	2.0	1.0	849	$1,175	$1.38	25d	1	0.62mi
3810 Chamberlayne Ave Unit G Richmond, VA	2.0	1.0	750	$1,095	$1.46	18d	1	0.71mi
3810 Chamberlayne Ave Unit B Richmond, VA	2.0	1.0	850	$1,095	$1.29	45d	1	0.71mi
622 Pollock St Richmond, VA	3.0	1.5	1122	$2,300	$2.05	25d	1	0.87mi
3200 Brook Rd Richmond, VA	1.0–2.0	1.0–2.5	968	$2,633	$2.72	3d	20	0.91mi
3117 Meadowbridge Rd Richmond, VA	2.0	1.0	887	$1,225	$1.38	45d	1	1.05mi
3418 Carolina Ave Unit A Richmond, VA	2.0	1.0	1000	$1,524	$1.52	45d	1	1.10mi
2420 Barton Ave Apt 2 Richmond, VA	2.0	1.0	900	$1,150	$1.28	25d	1	1.23mi
2416 Barton Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,150	$1.15	45d	1	1.25mi
2400 Barton Ave Richmond, VA	2.0	1.0	813	$1,245	$1.53	6d	2	1.30mi
4812 Chamberlayne Ave Unit 2 Richmond, VA	2.0	1.0	720	$1,325	$1.84	18d	1	1.30mi
2810 2nd Ave Richmond, VA	2.0	1.0	1120	$1,950	$1.74	45d	1	1.36mi
4903 Chamberlayne Ave #1 Richmond, VA	2.0	1.0	780	$1,150	$1.47	45d	1	1.39mi
2919 4th Ave #2 Richmond, VA	2.0	2.0	950	$1,287	$1.35	45d	1	1.48mi
1703 Oakdale Ave Apt B Richmond, VA	2.0	2.5	1001	$1,895	$1.89	25d	1	1.49mi
835 Winnetka Ave Richmond, VA	3.0	1.5	980	$1,775	$1.81	25d	1	1.49mi

Listing history 4 events

1. 2026-04-20
   status Pending
2. 2026-04-15
   listed $210,000 Active
3. 2026-04-07
   historical $210,000
4. 1965-09-17
   soldstatus $12,500

ⓘ 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: $1,524 · $127/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$198/yr (+$17/mo · 13.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 17 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,165
• − Mortgage interest: −$11,763
• − Property taxes: −$1,524
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,613
• − Management: −$1,613
• − Depreciation: −$6,109
• Taxable loss: −$3,508
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $983/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: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 26,322
• Household income: $61,345
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1325.0

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: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 21% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 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: ▼ -288.72%
• Current HPI: 428.4029
• Rent YoY: ▲ 7.43%
• 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

+1580.0% since first listed

4 events — show timeline

• 2026-04-20 Pending — CVRMLS
• 2026-04-15 Listed $210,000 CVRMLS
• 2026-04-07 Coming Soon $210,000 CVRMLS
• 1965-09-17 Sold (Public Records) $12,500 Public Records

Property tax history

+19.4%/yr

Latest (2022): $1,524 · +124.6% YoY. Source: county tax records.