178 Lindsay Rd · Hampden-Sydney, VA 23958

$113,900

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 56 Days on market

Built 1999 2.00 ac lot $73/sqft · 41% below area Est $192k · 41% under

---

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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• Appreciation +8.2/10.0
• 1% rule +6.6/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

* * SELLER FINANCING AVAILABLE * * WHAT A DEAL!! Welcome to this charming handyman special. Offering (1,568) square feet with 3 spacious bedrooms, 2 full bathrooms, storage shed, detached 1 car garage, and a large open yard. This property is being sold as-is, presenting a unique opportunity for customization. Although this is not an REO property, it does need extensive repairs, and some TLC. This is a perfect opportunity to remodel to your taste and make it the perfect home for you to move into. For investors, this home will make a great investment property and should cash flow very well while building wealth or rehab for a quick profit. List price is based on needed repairs. Similar upd

Key facts

• 2 acre lot
• Built 1999
• Listed 55 days

Property features AI

Exterior

• Utilities: Public water service; Public sewer service; Electric available
• Home design: Single-story home; 1,568 above-grade finished area; Frame construction with vinyl siding; Shingle roof
• Construction: Built (actual year not specified)
• Exterior features: Public water; Public sewer; Lot of approximately 2 acres

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms; One full bath on the first level with tub and shower
• Heating & cooling: Heat pump for heating and cooling; Electric heating
• Interior features: Resale condition
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $114k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $110k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 2.2% in Hampden-Sydney — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Prince Edward County Public School District (town): math 25% / reading 48% proficiency, ranked #126 of 131 in VA (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 42 active listings in the ZIP; 65 units permitted in Prince Edward County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($787 loan paydown + $7k appreciation (6.4% local appreciation)).
• Prince Edward County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $78k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,483 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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. 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.
4. 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.
5. 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: 1.16% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.95%
• DSCR: 1.58
• GRM: 7.2

CMA / ARV

• ARV (median comp): $192,383
• List price: $113,900
• Delta: -40.28%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

6.44% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.0%
• Equity multiple: 2.81×
• Total profit: $57,789
• Equity at exit: $74,806

10-year hold

• IRR: 25.0%
• Equity multiple: 5.77×
• Total profit: $152,034
• Equity at exit: $138,512

Cash invested: $31,892 (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 23958

• Home prices YoY: 3.8%
• Active inventory: 42
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,324 medium
• Mortgage (P&I): −$597
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $344

Break-even live

Break-even rent $888

Max offer price $113,900

Occupancy floor 69%

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: $28,475
• Closing costs: $3,417
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   price $113,900 Active 56 DOM
2. 2026-06-18
   days on market $114,900 Active 56 DOM
3. 2026-06-17
   days on market $114,900 Active 55 DOM
4. 2026-06-16
   days on market $114,900 Active 54 DOM
5. 2026-06-15
   days on market $114,900 Active 53 DOM
6. 2026-06-15
   days on market $114,900 Active 52 DOM
7. 2026-06-13
   days on market $114,900 Active 51 DOM
8. 2026-06-12
   days on market $114,900 Active 50 DOM
9. 2026-06-09
   days on market $114,900 Active 47 DOM
10. 2026-06-08
    days on market $114,900 Active 46 DOM
11. 2026-06-08
    days on market $114,900 Active 45 DOM
12. 2026-06-07
    days on market $114,900 Active 44 DOM
13. 2026-06-03
    days on market $114,900 Active 41 DOM
14. 2026-06-02
    days on market $114,900 Active 40 DOM
15. 2026-06-01
    days on market $114,900 Active 39 DOM
16. 2026-05-31
    days on market $114,900 Active 38 DOM
17. 2026-05-14
    price $117,900 871-char remark
18. 2026-04-23
    listed $119,900 Active 871-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: $682 · $57/mo
• Projected year-2 tax: $934 · $78/mo
• Expected delta: +$252/yr (+$21/mo · 36.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,886
• − Mortgage interest: −$6,380
• − Property taxes: −$682
• − Insurance: −$570
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − Depreciation: −$3,313
• Taxable income: $2,399
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $3,555/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: Prince Edward County Public School District
• NCES district ID: 5103060
• Math proficiency: 25% ▼ -37.00%
• Reading proficiency: 48% ▼ -12.00%
• Median HH income: $39,482
• Composite: 30.49/100
• National rank: #6221
• State rank: #126 of 131 in VA

Livability — Hampden-Sydney

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 1,020
• Population (ZIP): 3,127

Population outlook (Prince Edward County) Hauer SSP2

• Today (2025): 24,387 people
• By 2030: 24,161 · -0.9%
• By 2040: 23,194 · -4.9%
• By 2050: 22,292 · -8.6%
• By 2075: 20,854 · -14.5%
• By 2100: 19,030 · -22.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 61% Black 27% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Romanian 6% Slovak 1% Italian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Prince Edward

• 2024 margin: Toss-up / Even · D 48.2% · R 50.7% · Other 1.1%
• 2008→2024 swing: -12.5pp toward R · 2008: 9.9pp · 2024: -2.6pp
• All cycles: 2024: R+2.6 2020: D+5.6 2016: D+5.4 2012: D+12.8 2008: D+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.44%
• Current HPI: 174.8655
• 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

+47.0% since first listed

5 events — show timeline

• 2026-06-18 Price Changed $113,900 CVRMLS
• 2026-05-29 Price Changed $114,900 CVRMLS
• 2026-05-14 Price Changed $117,900 CVRMLS
• 2026-04-23 Listed $119,900 CVRMLS
• 2026-04-16 Sold (Public Records) $77,500 Public Records

Property tax history

+4.4%/yr

Latest (2025): $682 · +11.1% YoY. Source: county tax records.