1026 6th St · Petersburg, VA 23803

$169,000

2 bd · 1.0 ba · 722 sqft · SingleFamily public records · 2 Days on market

Built 1957 2,748 sqft lot Est $140k · 21% over

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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).

• Cash flow +12.4/30.0
• Appreciation +5.7/10.0
• Rent growth +4.0/5.0
• DSCR +3.7/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Affordable, updated and move in ready! Tucked away on a quiet street in Petersburg, this updated 2 bedroom, 1 bath is ready a new owner. Whether you’re a first-time homebuyer looking for an affordable place to call home or an investor searching for a turnkey opportunity, this property checks all the boxes. Step inside to find vinyl wood flooring, a bright and inviting layout, and an updated kitchen featuring granite countertops, all new appliances, and plenty of cabinet space. Outside, you’ll love the privacy-fenced backyard , new gravel driveway and rear porch area, perfect for relaxing, entertaining, or enjoying your morning coffee. Major improvements provide peace of mind for

Key facts

• New furnace
• Rear porch area
• New gravel driveway

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• PRIVACY FENCED BACKYARD
• NEW GRAVEL DRIVEWAY
• REAR PORCH AREA
• NEW FURNACE

Property features AI

Exterior

• Parking: Unpaved driveway
• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property; R-2 zoning
• Construction: Frame construction with vinyl siding and drywall; Shingle roof; Built as actual year (year built details available)
• Exterior features: Rear porch; Back yard fencing (fenced); Unpaved driveway

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Electric water heater
• Bedrooms: Second bedroom located on the first floor
• Flooring: Laminate flooring
• Bathrooms: One full bathroom with tub and shower
• Heating & cooling: Heat pump heating; Heat pump cooling; Electric heating; Electric cooling
• Interior features: Bedroom on main level; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (24.6% below list).
• Recommended offer: $127k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.5% in Petersburg — 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 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 290 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $2k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $12k; list at $169k implies a 1252% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 42% 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 $127,439 (24.6% 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. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $140,068
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1047 Sussex St	0.14mi	2/1.0	672 (-7%)	3mo	$100,000	$149	79
1029 7th St	0.03mi	2/1.0	768 (+6%)	11mo	$150,000	$195	78
25 Cherry St	0.40mi	2/1.0	720 (-0%)	4mo	$140,000	$194	78
21 Cherry St	0.39mi	2/1.0	720 (-0%)	6mo	$118,500	$165	76
923 Wills Rd	0.15mi	2/1.0	741 (+3%)	16mo	$119,000	$161	75
63 Culpeper Ave	0.57mi	2/1.0	720 (-0%)	1mo	$110,000	$153	72
80 Slagle Ave	0.60mi	2/1.0	720 (-0%)	1mo	$169,000	$235	71
101 Slagle Ave	0.63mi	2/1.0	720 (-0%)	2mo	$160,000	$222	69
59 Monument Ave	0.67mi	2/1.0	720 (-0%)	3mo	$174,950	$243	66
42 N Old Church St	0.40mi	2/1.0	673 (-7%)	9mo	$95,000	$141	62
1060 Amelia St	0.24mi	3/1.0 (+1)	769 (+6%)	14mo	$178,000	$231	62
235 S Crater	0.35mi	1/1.0 (-1)	644 (-11%)	1mo	$110,000	$171	60

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

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.10×
• Total profit: $4,784
• Equity at exit: $61,675

10-year hold

• IRR: 7.7%
• Equity multiple: 2.05×
• Total profit: $49,498
• Equity at exit: $85,132

Cash invested: $47,320 (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 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 290
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,274 high
• Mortgage (P&I): −$886
• Tax from tax record: −$76 /mo · $917/yr
• Insurance: −$70
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-93

Break-even live

Break-even rent $1,392

Max offer price $152,611

Occupancy floor —

Sensitivity live

Price	-10% $3	-5% $-45	+0% $-93	+5% $-141	+10% $-188
Rent	-10% $-193	-5% $-143	+0% $-93	+5% $-42	+10% $8
Rate	-1.0pp $-8	-0.5pp $-50	base $-93	+0.5pp $-137	+1.0pp $-181

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 S Old Church St Petersburg, VA	3.0	1.0	640	$1,250	$1.95	24d	1	0.25mi
120 S Little Church St Petersburg, VA	2.0	2.5	600	$1,475	$2.46	24d	1	0.42mi
445 Roundtop Ave Petersburg, VA	2.0	1.0	750	$1,050	$1.40	2d	3	0.49mi
250 E Bank St Petersburg, VA	2.0	1.0–2.0	862	$1,509	$1.75	2d	19	0.78mi
219 E Bank St Apt 121 Petersburg, VA	1.0	1.0	569	$1,180	$2.07	44d	1	0.85mi
219 E Bank St Apt 136 Petersburg, VA	1.0	1.0	569	$1,150	$2.02	44d	1	0.85mi
219 E Bank St Apt 126 Petersburg, VA	1.0	1.0	671	$1,275	$1.90	24d	1	0.85mi
219 E Bank St Apt 227 Petersburg, VA	1.0	1.0	615	$1,075	$1.75	24d	1	0.85mi
219 E Bank St Apt 134 Petersburg, VA	1.0	1.0	569	$1,175	$2.07	15d	1	0.85mi
219 E Bank St Apt 105 Petersburg, VA	1.0	1.0	465	$1,085	$2.33	3d	1	0.85mi
219 E Bank St Apt 217 Petersburg, VA	1.0	1.0	615	$1,295	$2.11	44d	1	0.85mi
219 E Bank St Apt 125 Petersburg, VA	1.0	1.0	671	$1,195	$1.78	3d	1	0.85mi
219 E Bank St Apt 103 Petersburg, VA	1.0	1.0	465	$1,295	$2.78	20d	1	0.85mi
219 E Bank St Unit 215 Petersburg, VA	1.0	1.0	615	$1,195	$1.94	11d	1	0.86mi
30 Franklin St Petersburg, VA	1.0	1.0	609	$1,022	$1.68	2d	2	0.96mi
30 Franklin St Petersburg, VA	2.0	1.0–2.0	755	$1,550	$2.05	19d	1	0.96mi
15 N Union St Petersburg, VA	1.0	1.0	633	$999	$1.58	22d	2	1.09mi
15 N Union St Petersburg, VA	1.0	1.0	660	$1,072	$1.62	17d	9	1.09mi
230 N Sycamore St Petersburg, VA	1.0	1.0	622	$1,150	$1.85	2d	7	1.10mi
25 W Bank St Petersburg, VA	1.0	1.0	538	$1,050	$1.95	19d	1	1.13mi
25 W Bank St Petersburg, VA	1.0	1.0	765	$995	$1.30	2d	7	1.13mi
9 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	721	$1,350	$1.87	17d	6	1.21mi
9 N Market St Petersburg, VA	1.0	1.0	667	$1,199	$1.80	22d	1	1.21mi
2310 Richmond Ave Petersburg, VA	2.0	1.0	728	$1,250	$1.72	24d	1	1.21mi
456 Harrison St Unit B Petersburg, VA	1.0	1.0	456	$1,350	$2.96	44d	1	1.24mi
16 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	769	$2,312	$3.01	2d	17	1.27mi
232 High St Unit B Petersburg, VA	1.0	1.0	750	$1,400	$1.87	2d	1	1.28mi
1025 S Crater Rd Petersburg, VA	1.0–3.0	1.0–2.0	795	$1,212	$1.52	2d	10	1.30mi
109 Perry St Petersburg, VA	1.0–2.0	1.0–2.0	787	$1,577	$2.00	2d	15	1.36mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	775	$1,310	$1.69	22d	2	1.37mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	797	$1,395	$1.75	15d	9	1.37mi

Listing history 3 events

1. 2026-06-18
   days on market $169,000 Active 2 DOM
2. 2026-06-16
   remarks 687-char remark
3. 2026-06-16
   listed $169,000 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: $917 · $76/mo
• Projected year-2 tax: $1,386 · $115/mo
• Expected delta: +$469/yr (+$39/mo · 51.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% 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: $15,293
• − Mortgage interest: −$9,467
• − Property taxes: −$917
• − Insurance: −$1,642
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − Depreciation: −$4,916
• Taxable loss: −$4,097
• Est. tax savings @ 24.0%: +$983
• After-tax cash flow: $-130/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: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• Metro: Richmond, 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

+1252.0% since first listed

2 events — show timeline

• 2026-06-16 Listed $169,000 CVRMLS
• 2004-04-23 Sold (Public Records) $12,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $917 · +66.4% YoY. Source: county tax records.