303 Purdy Rd · Emporia, VA 23847

$85,000

3 bd · 1.0 ba · 1,433 sqft · SingleFamily public records · 20 Days on market

Built 1950 0.55 ac lot

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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
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover a 1950s property offering great potential in Emporia. This 1,433 sq ft structure features 3 bedrooms, 1 bathroom, and sits on a 0.38-acre lot. Well-maintained over the decades, it boasts solid bones and a layout that remains in decent, livable condition. Having been consistently occupied until recently, the vacant space is a clean slate ready for personalization. Bring your design ideas to modernize the interior to its full potential. Traditional architecture means there is no central HVAC. A great opportunity to customize a classic space!

Key facts

• 0.55 acre lot
• Built 1950
• Listed 20 days

Property features AI

Finance

• Other: Property assessed (assessment value provided but financial details omitted)

Exterior

• Utilities: Public water service; Public sewer service; Electric service (standard - specific provider not listed)
• Home design: Single-story home
• Construction: Block construction; Composition roof; About 1,433 square feet above grade (interior size provided)
• Exterior features: Lot about 0.55 acres; Public water; Public sewer

Interior

• Bedrooms: Bedrooms present (details not provided)
• Bathrooms: One full bathroom with tub and shower (located on the first level)
• Heating & cooling: Window unit(s) for cooling
• Interior features: Total of 6 rooms; Resale condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 4.4% in Emporia — 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 64/100 on livability (#370 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools C-, crime F, amenities F.
• Market conditions: 37 active listings in the ZIP; 5 units permitted in Emporia city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Emporia County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% 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 $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. Crime grade is F 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?
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: 1.50% ✓
• Cap rate: 13.35%
• Cash-on-cash: 25.20%
• DSCR: 2.12
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $319,559
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 Lakeside Dr	0.26mi	3/2.0	1,582 (+10%)	23mo	$225,000	$142	48
1508 Walnut Dr	0.74mi	3/2.0	1,358 (-5%)	6mo	$303,000	$223	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 1.76×
• Total profit: $18,027
• Equity at exit: $12,674

10-year hold

• IRR: 27.0%
• Equity multiple: 3.38×
• Total profit: $56,563
• Equity at exit: $7,349

Cash invested: $23,800 (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 23847

• Home prices YoY: -22.8%
• Active inventory: 37
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$27 /mo · $320/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $500

Break-even live

Break-even rent $643

Max offer price $85,000

Occupancy floor 56%

Sensitivity live

Price	-10% $548	-5% $524	+0% $500	+5% $476	+10% $452
Rent	-10% $399	-5% $449	+0% $500	+5% $550	+10% $601
Rate	-1.0pp $543	-0.5pp $521	base $500	+0.5pp $478	+1.0pp $455

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-12
   statusdays on market $85,000 Pending 20 DOM
2. 2026-06-09
   pricedays on market $85,000 Active 18 DOM
3. 2026-06-08
   days on market $89,900 Active 17 DOM
4. 2026-06-08
   days on market $89,900 Active 16 DOM
5. 2026-06-05
   days on market $89,900 Active 14 DOM
6. 2026-06-03
   days on market $89,900 Active 12 DOM
7. 2026-06-02
   days on market $89,900 Active 11 DOM
8. 2026-06-01
   days on market $89,900 Active 10 DOM
9. 2026-05-31
   days on market $89,900 Active 9 DOM
10. 2026-05-22
    listed $89,900 Active

ⓘ 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: $320 · $27/mo
• Projected year-2 tax: $697 · $58/mo
• Expected delta: +$377/yr (+$31/mo · 117.7%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $15,305
• − Mortgage interest: −$4,761
• − Property taxes: −$320
• − Insurance: −$425
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$2,473
• Taxable income: $4,877
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $4,827/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)

No district data.

Livability — Emporia

• Score: 64/100
• State rank: #370
• US rank: #14846

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Emporia, VA
• Population (ZIP): 13,346

Population outlook (Emporia County) Hauer SSP2

• Today (2025): 5,078 people
• By 2030: 4,892 · -3.7%
• By 2040: 4,580 · -9.8%
• By 2050: 4,335 · -14.6%
• By 2075: 3,899 · -23.2%
• By 2100: 3,646 · -28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 27% Two or more races 9% Hispanic / Latino 5%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% Arabic 2%

Political lean MEDSL · Emporia

• 2024 margin: Solid D (+31.0) · D 65.2% · R 34.2%
• 2008→2024 swing: +0.2pp no change · 2008: 30.8pp · 2024: 31.0pp
• All cycles: 2024: D+31.0 2020: D+36.0 2016: D+31.2 2012: D+33.7 2008: D+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.80%
• Current HPI: 165.052
• 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

1 event — show timeline

• 2026-05-22 Listed $89,900 CVRMLS

Property tax history

+1.7%/yr

Latest (2025): $320 · +0.0% YoY. Source: county tax records.