408 S Franklin Blvd · Gretna, VA 24557

$165,750

3 bd · 1.0 ba · 1,742 sqft · SingleFamily public records · 54 Days on market

Built 1935 10,454 sqft lot $95/sqft · 18% below area Est $201k · 18% 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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• Appreciation +6.0/10.0
• Schools +6.0/10.0
• DSCR +4.5/10.0
• Livability +3.7/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3BR/1BA Craftsman in the quiet town of Gretna invites you to slow down and stay awhile. Imagine enjoying your favorite beverage on the front porch while taking in the small-town atmosphere. The large backyard is fenced, offering a secure space for kids and pets. Enjoy star gazing around the fire pit on a cool evening or host a summer BBQ for friends and family. There's also a shed providing extra space for storage or a workshop. Best of all? You're just a stroll away from shopping and dining. Come see for yourself why this could be the perfect place to call home.

Key facts

• 0.24 acre lot
• Built 1935
• Listed 54 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $166k.

Deal economics

• At list price, monthly cash flow is $47 ($565/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 $130k (21.6% below list).
• Recommended offer: $130k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.5% in Gretna — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#157 in VA, #4,927 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Pittsylvania County Public School District (rural): math 65% / reading 78% proficiency, ranked #22 of 131 in VA (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 72 units permitted in Pittsylvania County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.9% local appreciation)).
• Pittsylvania County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $166k implies a 264% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000 (21.6% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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 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?
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: 0.78% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• GRM: 10.6

CMA / ARV

• ARV (median comp): $200,931
• List price: $165,750
• Delta: -17.51%
• 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
408 S Franklin Blvd	0.00mi	3/1.0	1,742 (0%)	0mo	$155,000	$89	100
403 Vaden Dr	0.23mi	3/3.0	1,806 (+4%)	3mo	$255,000	$141	73
507 Henry St	0.37mi	3/2.0	1,750 (+0%)	9mo	$202,000	$115	70
204 Leftwich St	0.67mi	3/1.0	1,760 (+1%)	1mo	$155,559	$88	66
306 Vaden Dr	0.06mi	3/1.5	1,924 (+10%)	16mo	$200,000	$104	65
209 Huffmond St	0.50mi	3/2.5	1,646 (-6%)	5mo	$210,000	$128	58
711 Leftwich St	0.56mi	3/2.0	1,700 (-2%)	11mo	$220,000	$129	57
127 N Franklin Blvd	0.58mi	4/1.0 (+1)	1,734 (-0%)	16mo	$138,000	$80	54
104 Harvey St	0.24mi	3/2.0	1,528 (-12%)	16mo	$212,000	$139	51
206 Huffmond St St	0.53mi	3/2.0	1,505 (-14%)	10mo	$235,700	$157	40
500 Leftwich St	0.59mi	4/3.0 (+1)	1,853 (+6%)	12mo	$260,000	$140	39
712 Leftwich St	0.60mi	2/1.0 (-1)	1,550 (-11%)	14mo	$215,465	$139	37

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

Projected returns pro-forma

1.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.29×
• Total profit: $13,569
• Equity at exit: $64,618

10-year hold

• IRR: 9.0%
• Equity multiple: 2.21×
• Total profit: $56,134
• Equity at exit: $92,472

Cash invested: $46,410 (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 24557

• Home prices YoY: 1.2%
• Active inventory: 81
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$869
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $47

Break-even live

Break-even rent $1,240

Max offer price $165,750

Occupancy floor 91%

Sensitivity live

Price	-10% $141	-5% $94	+0% $47	+5% $0	+10% $-47
Rent	-10% $-56	-5% $-4	+0% $47	+5% $98	+10% $150
Rate	-1.0pp $131	-0.5pp $89	base $47	+0.5pp $4	+1.0pp $-40

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: $41,438
• Closing costs: $4,972
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
192 Peoples Supply Rd Gretna, VA	3.0	1.0	1370	$1,300	$0.95	44d	1	0.46mi

Listing history 5 events

1. 2026-05-30
   statusdays on market $165,750 Pending 54 DOM
2. 2026-05-13
   price $169,500 574-char remark

   Show marketing remark (574 chars)

   This 3BR/1BA Craftsman in the quiet town of Gretna invites you to slow down and stay awhile. Imagine enjoying your favorite beverage on the front porch while taking in the small-town atmosphere. The large backyard is fenced, offering a secure space for kids and pets. Enjoy star gazing around the fire pit on a cool evening or host a summer BBQ for friends and family. There's also a shed providing extra space for storage or a workshop. Best of all? You're just a stroll away from shopping and dining. Come see for yourself why this could be the perfect place to call home.

3. 2026-04-27
   price $174,900 574-char remark

   Show marketing remark (574 chars)

   This 3BR/1BA Craftsman in the quiet town of Gretna invites you to slow down and stay awhile. Imagine enjoying your favorite beverage on the front porch while taking in the small-town atmosphere. The large backyard is fenced, offering a secure space for kids and pets. Enjoy star gazing around the fire pit on a cool evening or host a summer BBQ for friends and family. There's also a shed providing extra space for storage or a workshop. Best of all? You're just a stroll away from shopping and dining. Come see for yourself why this could be the perfect place to call home.

4. 2026-04-07
   listed $185,900 Active 574-char remark

   Show marketing remark (574 chars)

   This 3BR/1BA Craftsman in the quiet town of Gretna invites you to slow down and stay awhile. Imagine enjoying your favorite beverage on the front porch while taking in the small-town atmosphere. The large backyard is fenced, offering a secure space for kids and pets. Enjoy star gazing around the fire pit on a cool evening or host a summer BBQ for friends and family. There's also a shed providing extra space for storage or a workshop. Best of all? You're just a stroll away from shopping and dining. Come see for yourself why this could be the perfect place to call home.

5. 2023-07-20
   soldstatus $45,500

ⓘ 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: $500 · $42/mo
• Projected year-2 tax: $1,359 · $113/mo
• Expected delta: +$860/yr (+$72/mo · 172.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$9,285
• − Property taxes: −$500
• − Insurance: −$829
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$4,822
• Taxable loss: −$2,331
• Est. tax savings @ 24.0%: +$559
• After-tax cash flow: $1,125/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: Pittsylvania County Public School District
• NCES district ID: 5102940
• Math proficiency: 65% ▼ -22.00%
• Reading proficiency: 78% ▼ -4.00%
• Median HH income: $41,672
• Composite: 59.77/100
• National rank: #900
• State rank: #22 of 131 in VA

Livability — Gretna

• Score: 74/100
• State rank: #157
• US rank: #4927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gretna, VA
• Population (ZIP): 7,832

Population outlook (Pittsylvania County) Hauer SSP2

• Today (2025): 58,725 people
• By 2030: 56,388 · -4.0%
• By 2040: 51,088 · -13.0%
• By 2050: 45,875 · -21.9%
• By 2075: 36,555 · -37.8%
• By 2100: 28,288 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 20% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Pittsylvania

• 2024 margin: Solid R (+43.1) · D 28.1% · R 71.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -24.0pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+39.8 2016: R+39.6 2012: R+27.5 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.91%
• Current HPI: 160.7742
• 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

+272.5% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $169,500 LMLS
• 2026-04-27 Price Changed $174,900 LMLS
• 2026-04-07 Listed $185,900 LMLS
• 2023-07-20 Sold (Public Records) $45,500 Public Records

Property tax history

+6.9%/yr

Latest (2025): $500 · +0.0% YoY. Source: county tax records.