70 Harmon Hill Rd · Collinsville, VA 24112

$84,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily · 39 Days on market

Built 1930 Fair condition $74/sqft · 14% below area Est $97k · 14% under

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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 +29.4/30.0
• ARV discount +13.7/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Schools +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 70 Harmon Hill Rd in Martinsville—situated on a spacious lot with plenty of privacy. This home offers solid potential for a renovation, rental, or personal residence. With a functional layout and room to add value, it’s ideal for investors or buyers looking to build equity. Don’t miss your chance—priced to sell and full of opportunity!

Key facts

• Garage
• Built 1930
• Listed 38 days

Property features AI

Finance

• Other: Tax information provided but excluded from amenities
• Financial info: No investment or income details provided
• HOA & community: No HOA details provided

Exterior

• Parking: Detached parking
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Vinyl siding; Composition roof
• Exterior features: Level lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Central air conditioning
• Interior features: Electric water heater; Crawl space basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $84k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.8% in Collinsville — 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 (#265 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools B+; Watch: amenities F, commute F, employment F.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 256 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected at -28% 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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $84k implies a 140% gain — meaningful room to come down on a strong offer.

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 $81,480 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.22%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $97,454
• List price: $84,000
• Delta: -13.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1303 Carver Ct	0.66mi	2/1.0 (-1)	1,176 (+4%)	5mo	$70,000	$60	53
110 Lafayette Ave	0.73mi	2/1.0 (-1)	1,008 (-11%)	12mo	$95,000	$94	33
1156 A Yorkshire Rd	0.64mi	3/1.5	1,021 (-10%)	23mo	$108,000	$106	33
77 Sunrise Ave	0.73mi	2/2.0 (-1)	1,064 (-6%)	20mo	$55,000	$52	30

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: 5.9%
• Equity multiple: 1.23×
• Total profit: $5,403
• Equity at exit: $12,525

10-year hold

• IRR: 15.3%
• Equity multiple: 2.24×
• Total profit: $29,237
• Equity at exit: $7,263

Cash invested: $23,520 (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 24112

• Active inventory: 256
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,112 medium
• Mortgage (P&I): −$441
• Tax est. 1.5%: −$105 /mo · $1,260/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $298

Break-even live

Break-even rent $735

Max offer price $84,000

Occupancy floor 68%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Vera Dr Unit 9 Collinsville, VA	2.0	1.0	800	$800	$1.00	44d	1	1.14mi

Listing history 20 events

1. 2026-06-19
   days on market $84,000 Active 39 DOM
2. 2026-06-18
   days on market $84,000 Active 38 DOM
3. 2026-06-17
   price $84,000 Active 37 DOM
4. 2026-06-17
   days on market $89,900 Active 37 DOM
5. 2026-06-16
   days on market $89,900 Active 36 DOM
6. 2026-06-15
   days on market $89,900 Active 35 DOM
7. 2026-06-14
   days on market $89,900 Active 33 DOM
8. 2026-06-12
   days on market $89,900 Active 32 DOM
9. 2026-06-09
   days on market $89,900 Active 29 DOM
10. 2026-06-08
    days on market $89,900 Active 28 DOM
11. 2026-06-07
    days on market $89,900 Active 27 DOM
12. 2026-06-03
    days on market $89,900 Active 23 DOM
13. 2026-06-02
    days on market $89,900 Active 22 DOM
14. 2026-06-01
    days on market $89,900 Active 21 DOM
15. 2026-05-31
    days on market $89,900 Active 20 DOM
16. 2026-05-30
    days on market $89,900 Active 19 DOM
17. 2026-05-11
    listed $89,900 Active 187-char remark
18. 2026-04-30
    soldstatus $35,000 Closed 372-char remark

    Show marketing remark (372 chars)

    Welcome to 70 Harmon Hill Rd in Martinsville—situated on a spacious lot with plenty of privacy. This home offers solid potential for a renovation, rental, or personal residence. With a functional layout and room to add value, it’s ideal for investors or buyers looking to build equity. Don’t miss your chance—priced to sell and full of opportunity!

19. 2026-04-11
    listed $35,000 372-char remark

    Show marketing remark (372 chars)

    Welcome to 70 Harmon Hill Rd in Martinsville—situated on a spacious lot with plenty of privacy. This home offers solid potential for a renovation, rental, or personal residence. With a functional layout and room to add value, it’s ideal for investors or buyers looking to build equity. Don’t miss your chance—priced to sell and full of opportunity!

20. 2026-04-11
    historical 372-char remark

    Show marketing remark (372 chars)

    Welcome to 70 Harmon Hill Rd in Martinsville—situated on a spacious lot with plenty of privacy. This home offers solid potential for a renovation, rental, or personal residence. With a functional layout and room to add value, it’s ideal for investors or buyers looking to build equity. Don’t miss your chance—priced to sell and full of opportunity!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,349
• − Mortgage interest: −$4,705
• − Property taxes: −$1,260
• − Insurance: −$420
• − Repairs & maintenance: −$1,068
• − Management: −$1,068
• − Depreciation: −$2,444
• Taxable income: $2,384
• Est. tax owed @ 24.0%: −$572
• After-tax cash flow: $3,007/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and maintenance, with the kitchen and bathroom in need of updates. Painting the exterior and replacing the kitchen cabinets and bathroom fixtures would significantly increase its value.

Repairs flagged

• Minor kitchen cabinets — dated cabinetry
• Minor bathroom fixtures — dated fixtures
• Moderate roof — visible wear
• Minor exterior paint — paint peeling
• Minor landscaping — overgrown lawn and trees

Value-add opportunities

• Both paint exterior — enhances curb appeal and value
• Both replace kitchen cabinets — modernizes kitchen and increases value
• Both replace bathroom fixtures — modernizes bathroom and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated cabinetry	Minor	$500–3,000
bathroom fixtures · dated fixtures	Minor	$500–3,000
roof · visible wear	Moderate	$3,000–15,000
exterior paint · paint peeling	Minor	$500–3,000
landscaping · overgrown lawn and trees	Minor	$500–3,000
Total estimated repair cost · 5 items		$5,000–27,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal and value ↑
• Both replace kitchen cabinets — modernizes kitchen and increases value ↑
• Both replace bathroom fixtures — modernizes bathroom and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Henry County Public School District
• NCES district ID: 5101920
• Math proficiency: 45% ▼ -37.00%
• Reading proficiency: 69% ▼ -6.00%
• Median HH income: $34,579
• Composite: 47.02/100
• National rank: #2345
• State rank: #78 of 131 in VA

Livability — Collinsville

• Score: 68/100
• State rank: #265
• US rank: #9378

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Collinsville, VA
• County: Martinsville City · 31,028 people
• City population: 7,217
• Metro: Martinsville, VA
• Population (ZIP): 31,028
• Household income: $48,770
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 888.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 46,903 people
• By 2030: 44,141 · -5.9%
• By 2040: 38,687 · -17.5%
• By 2050: 33,742 · -28.1%
• By 2075: 25,720 · -45.2%
• By 2100: 19,868 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+32.8) · D 33.3% · R 66.1%
• 2008→2024 swing: -22.4pp toward R · 2008: -10.5pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.1 2016: R+29.2 2012: R+14.7 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.37%
• Current HPI: 172.4393
• Rent YoY: —
• Metro: Martinsville, 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

+140.0% since first listed

5 events — show timeline

• 2026-06-17 Price Changed $84,000 MHPCAR
• 2026-05-11 Listed $89,900 MHPCAR
• 2026-04-30 Sold (MLS) $35,000 BRIGHT MLS
• 2026-04-11 Listing Removed — BRIGHT MLS
• 2026-04-11 Listed $35,000 BRIGHT MLS