108 Parkway Dr · Danville, VA 24521

$209,900

2 bd · 1.5 ba · 1,226 sqft · SingleFamily public records · 114 Days on market

Built 1930 0.86 ac lot $171/sqft · at area comps Est $254k · 18% under

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Why this score? — see what drove the D 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 +12.1/30.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting home nestled on . 85 acres, offering the perfect blend of city living and country vibes. Located just minutes from a popular casino, this property delivers both convenience and a peaceful retreat. Step inside to discover a bright and comfortable living room, ideal for relaxing or entertaining. The kitchen provides ample workspace and flows into the dedicated dining room, creating a welcoming layout for everyday living and gatherings. The home offers flexibility for sleeping space, a home office, or creative use. Outdoors, the property truly shines. The expansive yard features an outdoor fire pit, perfect for cozy evenings under the stars. A sturdy swing adds a playful touch, while the garden space invites you to grow your own vegetables, flowers, or create a personalized outdoor sanctuary. The large lot provides privacy, room to roam. The roof was installed in 2024.

Key facts

• Large lot
• Outdoor fire pit
• Garden space

Tags

• OUTDOOR FIRE PIT
• GARDEN SPACE
• LARGE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-46 ($-548/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (27.2% below list).
• Recommended offer: $153k (27.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#91 in VA, #2,952 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, crime D-, commute F.
• Danville City Public School District (town): math 30% / reading 44% proficiency, ranked #128 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 87 active listings in the ZIP; 54 units permitted in Danville city in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Danville County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $168k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,780 (27.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.73% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 11.4

CMA / ARV

• ARV (median comp): $254,494
• List price: $209,900
• Delta: -17.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 Parkway Dr	0.09mi	3/2.0 (+1)	1,225 (-0%)	1mo	$220,000	$180	88
147 Avalon Dr	0.71mi	2/1.0	1,062 (-13%)	8mo	$60,000	$56	36

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-37,022
• Equity at exit: $31,297

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-36,386
• Equity at exit: $18,148

Cash invested: $58,772 (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 24521

• Home prices YoY: -12.0%
• Active inventory: 87
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,528 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$64 /mo · $774/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $-46

Break-even live

Break-even rent $1,586

Max offer price $201,827

Occupancy floor 98%

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $209,900 Active 114 DOM
2. 2026-06-18
   days on market $209,900 Active 113 DOM
3. 2026-06-17
   days on market $209,900 Active 112 DOM
4. 2026-06-16
   days on market $209,900 Active 111 DOM
5. 2026-06-15
   days on market $209,900 Active 110 DOM
6. 2026-06-14
   days on market $209,900 Active 108 DOM
7. 2026-06-13
   pricedays on market $209,900 Active 107 DOM
8. 2026-06-10
   days on market $214,900 Active 105 DOM
9. 2026-06-09
   days on market $214,900 Active 104 DOM
10. 2026-06-08
    days on market $214,900 Active 103 DOM
11. 2026-06-07
    days on market $214,900 Active 102 DOM
12. 2026-06-05
    days on market $214,900 Active 99 DOM
13. 2026-06-02
    days on market $214,900 Active 97 DOM
14. 2026-06-01
    days on market $214,900 Active 96 DOM
15. 2026-05-31
    days on market $214,900 Active 95 DOM
16. 2026-05-30
    days on market $214,900 Active 94 DOM
17. 2026-05-07
    price $214,900 903-char remark

    Show marketing remark (903 chars)

    Welcome to this inviting home nestled on . 85 acres, offering the perfect blend of city living and country vibes. Located just minutes from a popular casino, this property delivers both convenience and a peaceful retreat. Step inside to discover a bright and comfortable living room, ideal for relaxing or entertaining. The kitchen provides ample workspace and flows into the dedicated dining room, creating a welcoming layout for everyday living and gatherings. The home offers flexibility for sleeping space, a home office, or creative use. Outdoors, the property truly shines. The expansive yard features an outdoor fire pit, perfect for cozy evenings under the stars. A sturdy swing adds a playful touch, while the garden space invites you to grow your own vegetables, flowers, or create a personalized outdoor sanctuary. The large lot provides privacy, room to roam. The roof was installed in 2024.

18. 2026-04-16
    price $219,500 903-char remark

    Show marketing remark (903 chars)

    Welcome to this inviting home nestled on . 85 acres, offering the perfect blend of city living and country vibes. Located just minutes from a popular casino, this property delivers both convenience and a peaceful retreat. Step inside to discover a bright and comfortable living room, ideal for relaxing or entertaining. The kitchen provides ample workspace and flows into the dedicated dining room, creating a welcoming layout for everyday living and gatherings. The home offers flexibility for sleeping space, a home office, or creative use. Outdoors, the property truly shines. The expansive yard features an outdoor fire pit, perfect for cozy evenings under the stars. A sturdy swing adds a playful touch, while the garden space invites you to grow your own vegetables, flowers, or create a personalized outdoor sanctuary. The large lot provides privacy, room to roam. The roof was installed in 2024.

19. 2026-02-25
    listed $224,900 Active 903-char remark

    Show marketing remark (903 chars)

    Welcome to this inviting home nestled on . 85 acres, offering the perfect blend of city living and country vibes. Located just minutes from a popular casino, this property delivers both convenience and a peaceful retreat. Step inside to discover a bright and comfortable living room, ideal for relaxing or entertaining. The kitchen provides ample workspace and flows into the dedicated dining room, creating a welcoming layout for everyday living and gatherings. The home offers flexibility for sleeping space, a home office, or creative use. Outdoors, the property truly shines. The expansive yard features an outdoor fire pit, perfect for cozy evenings under the stars. A sturdy swing adds a playful touch, while the garden space invites you to grow your own vegetables, flowers, or create a personalized outdoor sanctuary. The large lot provides privacy, room to roam. The roof was installed in 2024.

20. 2024-02-27
    soldstatus $168,000 Closed 810-char remark

    Show marketing remark (810 chars)

    What a great neighborhood & GREAT HOME! This home has been updated w/ fresh NEW LUXURY VINYL PLANK FLOORING, fresh paint, lots of work went into making it just right for you. Features ENORMOUS carport w/ tall ceiling, private paved driveway leading to home & outbuilding, including turn-around spot. Inside what a sweet family home, w/ open floor plan kitchen w/ ss appliances & pantry, dining room, laundry room, large master bedroom with en-suite half bath, replacement windows, HARDWOODS UNDER FLOORING. Cozy living room, main two bedrooms on main level, HUGE 3rdr bedroom upstairs or could use as bonus room! Covered front porch overlooks peaceful large front yard. ENORMOUS backyard, handy multi-room outbuilding workshop storage building! A must-see home for the price, a great deal.

21. 2024-01-29
    historical Active Under Contract 810-char remark

    Show marketing remark (810 chars)

    What a great neighborhood & GREAT HOME! This home has been updated w/ fresh NEW LUXURY VINYL PLANK FLOORING, fresh paint, lots of work went into making it just right for you. Features ENORMOUS carport w/ tall ceiling, private paved driveway leading to home & outbuilding, including turn-around spot. Inside what a sweet family home, w/ open floor plan kitchen w/ ss appliances & pantry, dining room, laundry room, large master bedroom with en-suite half bath, replacement windows, HARDWOODS UNDER FLOORING. Cozy living room, main two bedrooms on main level, HUGE 3rdr bedroom upstairs or could use as bonus room! Covered front porch overlooks peaceful large front yard. ENORMOUS backyard, handy multi-room outbuilding workshop storage building! A must-see home for the price, a great deal.

22. 2024-01-21
    listed $164,900 Active 810-char remark

    Show marketing remark (810 chars)

    What a great neighborhood & GREAT HOME! This home has been updated w/ fresh NEW LUXURY VINYL PLANK FLOORING, fresh paint, lots of work went into making it just right for you. Features ENORMOUS carport w/ tall ceiling, private paved driveway leading to home & outbuilding, including turn-around spot. Inside what a sweet family home, w/ open floor plan kitchen w/ ss appliances & pantry, dining room, laundry room, large master bedroom with en-suite half bath, replacement windows, HARDWOODS UNDER FLOORING. Cozy living room, main two bedrooms on main level, HUGE 3rdr bedroom upstairs or could use as bonus room! Covered front porch overlooks peaceful large front yard. ENORMOUS backyard, handy multi-room outbuilding workshop storage building! A must-see home for the price, a great deal.

23. 2009-07-31
    soldstatus $75,000

ⓘ 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: $774 · $64/mo
• Projected year-2 tax: $1,721 · $143/mo
• Expected delta: +$948/yr (+$79/mo · 122.5%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,334
• − Mortgage interest: −$11,758
• − Property taxes: −$774
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$6,106
• Taxable loss: −$4,287
• Est. tax savings @ 24.0%: +$1,029
• After-tax cash flow: $480/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: Danville City Public School District
• NCES district ID: 5101110
• Math proficiency: 30% ▼ -22.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $31,952
• Composite: 30.23/100
• National rank: #6298
• State rank: #128 of 131 in VA

Livability — Danville

• Score: 77/100
• State rank: #91
• US rank: #2952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, VA
• City population: 59,055
• Population (ZIP): 10,101

Population outlook (Danville County) Hauer SSP2

• Today (2025): 40,989 people
• By 2030: 40,432 · -1.4%
• By 2040: 39,255 · -4.2%
• By 2050: 38,035 · -7.2%
• By 2075: 35,612 · -13.1%
• By 2100: 30,365 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 13% Two or more races 5% Hispanic / Latino 3% Native American 1%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Danville

• 2024 margin: Strong D (+21.1) · D 60.1% · R 39.0%
• 2008→2024 swing: +1.9pp toward D · 2008: 19.1pp · 2024: 21.1pp
• All cycles: 2024: D+21.1 2020: D+22.1 2016: D+19.9 2012: D+22.1 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.30%
• Current HPI: 177.7717
• 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

+186.5% since first listed

7 events — show timeline

• 2026-05-07 Price Changed $214,900 LMLS
• 2026-04-16 Price Changed $219,500 LMLS
• 2026-02-25 Listed $224,900 LMLS
• 2024-02-27 Sold (MLS) $168,000 DRRAR
• 2024-01-29 Contingent — DRRAR
• 2024-01-21 Listed $164,900 DRRAR
• 2009-07-31 Sold (Public Records) $75,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $774 · +0.0% YoY. Source: county tax records.