203 Carter St · Radford, VA 24141

$130,000

4 bd · 1.5 ba · 1,466 sqft · SingleFamily · 3 Days on market

Built 1920 4,792 sqft lot Est $249k · 48% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Schools +5.9/10.0
• Rent growth +4.2/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with tremendous upside potential! This 4-bedroom, 1.5-bath home in Radford is ready for its next chapter. The main level has been partially updated, while the upper level offers a blank canvas for renovation and customization. Whether you're looking for your next flip, rental property, or redevelopment project, this property presents a unique opportunity at an affordable price point. The neighboring property, which features a similar footprint, was successfully converted into a student housing quadplex, showcasing the possibilities for future use. Conveniently located near Radford University, shopping, dining, and local amenities. Property is being sold as-is and is ideal f

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Detached garage on gravel; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Residential property
• Construction: Vinyl siding; Above-grade finished living area
• Exterior features: Deck; Porch

Interior

• Kitchen: Microwave; Electric range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Microwave; Electric range; Refrigerator; Electric water heater; Full dirt-floor basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.1% vs local median 3.6% in Radford — 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 68/100 on livability (#269 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, health & safety B+; Watch: amenities F, commute F, employment F.
• Radford City Public School District (urban): math 66% / reading 78% proficiency, ranked #26 of 131 in VA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: John N. Dalton Intermediate (math 61% / reading 77%, grade A, #89 of 342 statewide, top 26%, 235 students, 66% FRL); Radford High (math 52% / reading 87%, grade B, #159 of 319 statewide, top 53%, 504 students, 42% FRL) — zoned schools average 54% FRL vs 38% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.6%/yr); 151 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 28 units permitted in Radford city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Radford County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1920 — 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. 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: 1.20% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.67%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $249,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Denby St	0.35mi	3/1.5 (-1)	1,440 (-2%)	2mo	$210,000	$146	74
818 Second St	0.35mi	3/2.0 (-1)	1,462 (-0%)	7mo	$189,000	$129	71
200 Taylor St	0.31mi	4/1.0	1,595 (+9%)	1mo	$254,000	$159	68
707 Pendleton St	0.43mi	3/2.0 (-1)	1,439 (-2%)	4mo	$235,000	$163	66
1515 Second St	0.19mi	3/1.0 (-1)	1,303 (-11%)	7mo	$175,000	$134	60
702 Preston St	0.39mi	3/1.0 (-1)	1,376 (-6%)	7mo	$233,800	$170	59
306 Forest Ave	0.74mi	3/2.5 (-1)	1,473 (+0%)	2mo	$293,400	$199	54
1512 8th St	0.46mi	3/2.0 (-1)	1,598 (+9%)	7mo	$275,000	$172	51
208 Ingles St	0.52mi	3/2.0 (-1)	1,276 (-13%)	1mo	$267,000	$209	46
804 Tenth St	0.66mi	3/1.0 (-1)	1,291 (-12%)	3mo	$175,000	$136	40
1004 Dundee Dr	0.59mi	3/1.5 (-1)	1,248 (-15%)	5mo	$249,000	$200	39
306 Wadsworth St	0.65mi	3/1.5 (-1)	1,664 (+14%)	5mo	$334,500	$201	38

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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.31×
• Total profit: $11,225
• Equity at exit: $19,383

10-year hold

• IRR: 19.7%
• Equity multiple: 2.92×
• Total profit: $69,778
• Equity at exit: $11,240

Cash invested: $36,400 (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 24141

• Home prices YoY: -26.2%
• Rents YoY: 6.6%
• Active inventory: 151
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,559 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$81 /mo · $972/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $415

Break-even live

Break-even rent $1,034

Max offer price $130,000

Occupancy floor 68%

Sensitivity live

Price	-10% $488	-5% $452	+0% $415	+5% $378	+10% $341
Rent	-10% $292	-5% $353	+0% $415	+5% $476	+10% $538
Rate	-1.0pp $480	-0.5pp $448	base $415	+0.5pp $381	+1.0pp $347

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Allen Ave Radford, VA	1.0–3.0	1.0–1.5	875	$1,050	$1.20	44d	5	1.37mi

Listing history 3 events

1. 2026-06-21
   pricedays on market $130,000 Active 3 DOM
2. 2026-06-19
   remarks 699-char remark
3. 2026-06-19
   listed $110,000 Active 1 DOM

ⓘ 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: $972 · $81/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$94/yr (+$8/mo · 9.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $18,708
• − Mortgage interest: −$7,282
• − Property taxes: −$972
• − Insurance: −$650
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$3,782
• Taxable income: $3,029
• Est. tax owed @ 24.0%: −$727
• After-tax cash flow: $4,250/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: Radford City Public School District
• NCES district ID: 5103180
• Math proficiency: 66% ▼ -22.00%
• Reading proficiency: 78% ▼ -5.00%
• Median HH income: $32,239
• Composite: 59.29/100
• National rank: #935
• State rank: #26 of 131 in VA

Livability — Radford

• Score: 68/100
• State rank: #269
• US rank: #9496

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Radford, VA
• County: Radford City · 21,484 people
• City population: 21,484
• Metro: Blacksburg-Christiansburg, VA
• Population (ZIP): 21,484
• Household income: $62,969
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1211.0

Population outlook (Radford County) Hauer SSP2

• Today (2025): 21,530 people
• By 2030: 23,199 · +7.8%
• By 2040: 25,758 · +19.6%
• By 2050: 28,422 · +32.0%
• By 2075: 35,350 · +64.2%
• By 2100: 42,449 · +97.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Hispanic / Latino 4% Two or more races 3% Asian 2%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam, China
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Radford

• 2024 margin: Toss-up / Even · D 49.3% · R 48.8% · Other 1.9%
• 2008→2024 swing: -8.9pp toward R · 2008: 9.4pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+9.1 2016: D+4.7 2012: D+3.9 2008: D+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.42%
• Current HPI: 240.7418
• Rent YoY: ▲ 6.63%
• Metro: Blacksburg-Christiansburg, 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

+85.7% since first listed

3 events — show timeline

• 2026-06-20 Price Changed $130,000 NRVMLS
• 2026-06-19 Price Changed $110,000 NRVMLS
• 2026-06-18 Listed $70,000 NRVMLS

Property tax history

+9.1%/yr

Latest (2025): $972 · +18.8% YoY. Source: county tax records.