1829 N 29th St · Richmond, VA 23223

$100,000

2 bd · 1.0 ba · 1,167 sqft · SingleFamily public records · 24 Days on market

Built 1915 5,331 sqft lot $86/sqft · 60% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This house has great rental or first time home buyer potential. It has many nice features, just needs a few touches to get it move in ready. listed way below assessment

Key facts

• 5,331 sq ft lot
• Built 1915
• Listed 24 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property; R-5 zoning
• Construction: Frame construction with vinyl siding; Shingle roof
• Exterior features: Front porch; Porch; Deck; Full fencing

Interior

• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Laminate
• Bathrooms: 1 full bathroom with tub and shower (first level)
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling; Electric cooling
• Interior features: Laminate flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $518 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 fast (+6.4%/yr); 337 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 32% of the median local income ($56k/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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — 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. 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.
6. 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.
7. 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: 1.51% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.20%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (median comp): $252,989
• List price: $100,000
• Delta: -60.47%
• 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
1829 N 29th St	0.00mi	2/1.0	1,167 (0%)	0mo	$126,000	$108	100
1726 N 28th St	0.13mi	3/1.0 (+1)	1,110 (-5%)	7mo	$275,000	$248	75
1513 N 30th St	0.26mi	3/1.0 (+1)	1,080 (-8%)	6mo	$275,000	$255	65
2501 Peter Paul Blvd	0.26mi	3/2.0 (+1)	1,218 (+4%)	8mo	$236,900	$194	65
3404 S St	0.55mi	2/1.0	1,096 (-6%)	0mo	$215,000	$196	64
1905 N 28th St	0.10mi	3/2.0 (+1)	1,008 (-14%)	0mo	$260,000	$258	64
1314 N 34th St	0.51mi	3/2.0 (+1)	1,183 (+1%)	6mo	$307,000	$260	60
1815 N 23rd St	0.38mi	2/1.0	1,044 (-10%)	8mo	$198,000	$190	58
2009 X St	0.56mi	3/1.0 (+1)	1,245 (+7%)	2mo	$216,000	$173	56
1911 N 23rd St	0.38mi	3/1.5 (+1)	1,284 (+10%)	5mo	$260,000	$202	55
3212 Q St	0.65mi	3/1.5 (+1)	1,248 (+7%)	1mo	$355,000	$284	50
1015 N 26th St	0.67mi	2/2.5	1,080 (-8%)	3mo	$325,000	$301	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 · 6.38% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 1.79×
• Total profit: $22,101
• Equity at exit: $14,910

10-year hold

• IRR: 29.3%
• Equity multiple: 4.04×
• Total profit: $85,080
• Equity at exit: $8,646

Cash invested: $28,000 (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 23223

• Rents YoY: 6.4%
• Active inventory: 337
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,507 high
• Mortgage (P&I): −$524
• Tax from tax record: −$106 /mo · $1,272/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $518

Break-even live

Break-even rent $851

Max offer price $100,000

Occupancy floor 61%

Sensitivity live

Price	-10% $575	-5% $546	+0% $518	+5% $490	+10% $461
Rent	-10% $399	-5% $459	+0% $518	+5% $578	+10% $637
Rate	-1.0pp $568	-0.5pp $544	base $518	+0.5pp $492	+1.0pp $466

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1906 N 29th St Richmond, VA	2.0	1.0	704	$1,000	$1.42	5d	1	0.06mi
2906 Nine Mile Rd Richmond, VA	2.0	1.0	885	$1,845	$2.08	24d	1	0.11mi
1603 N 29th St Richmond, VA	3.0	1.0	950	$1,600	$1.68	5d	1	0.16mi
2706 Selden St Richmond, VA	3.0	1.0	862	$1,895	$2.20	44d	1	0.34mi
2914 R St Richmond, VA	2.0	1.0	1250	$1,500	$1.20	24d	1	0.51mi
1617 N 21st St Richmond, VA	3.0	1.0	1157	$1,825	$1.58	5d	1	0.52mi
2106 Newbourne St Richmond, VA	3.0	2.0	1172	$1,875	$1.60	44d	1	0.55mi
2852 Fairfield Ave Richmond, VA	2.0–3.0	1.0	870	$1,103	$1.27	5d	1	0.55mi
2021 Fairfield Ave Richmond, VA	2.0	1.0	785	$1,195	$1.52	15d	1	0.56mi
2108 Phaup St Unit D Richmond, VA	2.0	1.0	700	$995	$1.42	24d	1	0.61mi
2100 Phaup St Richmond, VA	2.0	1.0	800	$995	$1.24	24d	1	0.63mi
2514 Q St Richmond, VA	1.0	1.0	1000	$1,175	$1.18	44d	1	0.63mi
2153 Cool Ln Richmond, VA	2.0	1.0	1148	$1,080	$0.94	44d	1	0.63mi
3102 P St Unit B Richmond, VA	2.0	2.5	1313	$1,995	$1.52	5d	1	0.66mi
2016 Fairmount Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,007	$1.01	15d	1	0.66mi
2016 Fairmount Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,007	$1.01	44d	1	0.66mi
1108 N 21st St Unit B Richmond, VA	2.0	2.0	1000	$1,799	$1.80	3d	1	0.76mi
1204 N 20th St Apt 1 Richmond, VA	1.0	1.0	800	$887	$1.11	24d	1	0.76mi
1204 N 20th St Apt 2 Richmond, VA	1.0	1.0	800	$887	$1.11	44d	1	0.76mi
2200 Carrington St Unit 300 Richmond, VA	2.0	2.0	880	$1,435	$1.63	44d	1	0.77mi
2200 Carrington St Unit 301 Richmond, VA	2.0	2.0	890	$1,435	$1.61	16d	1	0.77mi
1004 1/2 N 21st St Unit A Richmond, VA	3.0	2.0	1248	$2,195	$1.76	17d	1	0.81mi
803 N 26th St Unit A Richmond, VA	2.0	2.0	1188	$1,849	$1.56	44d	1	0.81mi
811 N 33rd St Unit A Richmond, VA	3.0	2.0	1315	$1,900	$1.44	17d	1	0.81mi
811 N 33rd St Unit A Richmond, VA	3.0	2.0	1315	$1,900	$1.44	5d	1	0.81mi
3508 E Richmond Rd Richmond, VA	2.0	1.0	801	$1,336	$1.67	5d	7	0.83mi
3528 E Richmond Rd Unit 21 Richmond, VA	2.0	1.0	780	$1,195	$1.53	12d	1	0.85mi
927 N 20th St Unit D Richmond, VA	1.0	1.0	725	$1,050	$1.45	44d	1	0.87mi
923 N 20th St Unit D Richmond, VA	1.0	1.0	850	$950	$1.12	5d	1	0.88mi
3516 E Richmond Rd Unit 10 Richmond, VA	2.0	1.0	760	$1,250	$1.64	44d	1	0.89mi
621 N 32nd St Unit C Richmond, VA	2.0	1.0	700	$1,299	$1.86	5d	1	0.91mi
2416 Jefferson Ave Unit 212 Long-Term Marketing Richmond, VA	1.0	1.0	727	$2,199	$3.02	44d	1	0.94mi
600 N 32nd St Unit C Richmond, VA	2.0	1.0	700	$1,350	$1.93	44d	1	0.96mi
509 N 30th St Unit 2 Richmond, VA	2.0	1.0	750	$1,365	$1.82	22d	1	1.01mi
507 N 32nd St Unit A Richmond, VA	2.0	1.0	1200	$1,995	$1.66	24d	1	1.03mi
2423 Whitcomb St Richmond, VA	3.0	1.0	1000	$1,100	$1.10	24d	1	1.03mi
517 N 21st St Unit 517B Richmond, VA	2.0	1.0	1447	$1,884	$1.30	17d	1	1.09mi
3508 E Clay St Unit A Richmond, VA	2.0	2.0	1188	$1,899	$1.60	15d	1	1.09mi
2003 Cedar St Richmond, VA	3.0	2.0	1420	$2,200	$1.55	44d	1	1.09mi
306 St Claire Ln Richmond, VA	3.0	1.0	1017	$1,595	$1.57	3d	1	1.09mi

Listing history 6 events

1. 2026-05-05
   listed $100,000 Active 548-char remark
2. 2016-08-11
   soldstatus $45,000
3. 2016-08-10
   soldstatus $45,000 Closed 168-char remark

   Show marketing remark (168 chars)

   This house has great rental or first time home buyer potential. It has many nice features, just needs a few touches to get it move in ready. listed way below assessment

4. 2016-07-12
   status Pending 168-char remark

   Show marketing remark (168 chars)

   This house has great rental or first time home buyer potential. It has many nice features, just needs a few touches to get it move in ready. listed way below assessment

5. 2016-06-11
   listed $50,000 Active 168-char remark

   Show marketing remark (168 chars)

   This house has great rental or first time home buyer potential. It has many nice features, just needs a few touches to get it move in ready. listed way below assessment

6. 2001-01-17
   soldstatus $10,000

ⓘ 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: $1,272 · $106/mo
• Projected year-2 tax: $1,272 · $106/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 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: $18,078
• − Mortgage interest: −$5,602
• − Property taxes: −$1,272
• − Insurance: −$500
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − Depreciation: −$2,909
• Taxable income: $4,903
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $5,040/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): 54,659
• Household income: $55,731
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3530.0

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 (71%)
• Race & ethnicity: Black 71% White 19% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -257.81%
• Current HPI: 324.0589
• Rent YoY: ▲ 6.38%
• 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

+1160.0% since first listed

8 events — show timeline

• 2026-06-15 Sold (MLS) $126,000 CVRMLS
• 2026-05-29 Pending — CVRMLS
• 2026-05-05 Listed $100,000 CVRMLS
• 2016-08-11 Sold (Public Records) $45,000 Public Records
• 2016-08-10 Sold (MLS) $45,000 CVRMLS
• 2016-07-12 Pending — CVRMLS
• 2016-06-11 Listed $50,000 CVRMLS
• 2001-01-17 Sold (Public Records) $10,000 Public Records

Property tax history

-3.0%/yr

Latest (2022): $1,272 · -6.9% YoY. Source: county tax records.