2368 Hill St · Petersburg, VA 23803

$75,900

2 bd · 1.5 ba · 1,022 sqft · Townhouse · 12 Days on market

Built 1978 Poor condition 1,228 sqft lot $74/sqft · 30% below area Est $108k · 30% under $12/mo HOA · 1% of rent

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.7/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +1.5/5.0

Listing remarks

* * SELLER FINANCING AVAILABLE * * WHAT A DEAL!! Welcome to this charming handyman special. Offering (1,022) square feet with 2 spacious bedrooms, 1 full bath, 1 half bath, and a private patio. This property is being sold as-is, presenting a unique opportunity for customization. Although this is not an REO property, it does need extensive repairs, and some TLC. This is a perfect opportunity to remodel to your taste and make it the perfect home for you to move into. For investors, this home will make a great investment property and should cash flow very well while building wealth or rehab for a quick profit. List price is based on needed repairs. Similar updated houses in the area sell fo

Key facts

• $12 HOA
• Built 1978
• Listed 12 days

Property features AI

Finance

• Other: Above-grade finished area approximately 1,022
• HOA & community: Homeowners association with a $35 quarterly fee

Exterior

• Utilities: Public water; Public sewer
• Home design: 2-story property; Frame construction with vinyl siding; Shingle roof
• Construction: Built as Actual year (year built details recorded); Frame and vinyl siding construction; Shingle roof
• Exterior features: Residential townhouse zoning (RTH)

Interior

• Bedrooms: 4 total rooms (includes living spaces and bedrooms)
• Bathrooms: 1 full bathroom with tub and shower (located on second level); 1 half bathroom (located on first level)
• Heating & cooling: Heat pump heating; Central air conditioning; Electric heating components
• Interior features: Resale condition
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $76k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Cap rate 16.0% 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: crime F, amenities F, commute 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.
• Zoned schools: Pleasants Lane Elementary (math 12% / reading 32%, grade F, #1,069 of 1,108 statewide, top 97%, 540 students, 102% FRL); Vernon Johns Middle (math 21% / reading 47%, grade F, #330 of 342 statewide, top 96%, 921 students, 99% FRL); Petersburg High (math 43% / reading 62%, grade C-, #293 of 319 statewide, top 92%, 1,080 students, 97% FRL) — zoned schools average 99% FRL vs 79% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 294 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).
• This rent runs 30% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($525 loan paydown + $1k 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.
• At projected returns (1.4% appreciation + 5.9% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 40% 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 $75,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
8. 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.
9. 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: 1.92% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.83%
• DSCR: 2.55
• GRM: 4.3

CMA / ARV

• ARV (median comp): $107,971
• List price: $75,900
• Delta: -29.70%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2378 Hill St	0.01mi	2/1.5	1,022 (0%)	14mo	$120,000	$117	88

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: 40.7%
• Equity multiple: 3.20×
• Total profit: $46,789
• Equity at exit: $27,699

10-year hold

• IRR: 43.6%
• Equity multiple: 6.97×
• Total profit: $126,840
• Equity at exit: $38,234

Cash invested: $21,252 (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: 294
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,460 high
• Mortgage (P&I): −$398
• Tax est. 1.5%: −$95 /mo · $1,138/yr
• Insurance: −$32
• HOA: −$12
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $617

Break-even live

Break-even rent $679

Max offer price $75,900

Occupancy floor 53%

Sensitivity live

Price	-10% $669	-5% $643	+0% $617	+5% $591	+10% $564
Rent	-10% $502	-5% $559	+0% $617	+5% $675	+10% $732
Rate	-1.0pp $655	-0.5pp $636	base $617	+0.5pp $597	+1.0pp $577

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: $18,975
• Closing costs: $2,277
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2350 Hill St Unit H Petersburg, VA	3.0	1.5	1193	$1,775	$1.49	3d	1	0.00mi
2125 Dupuy Rd Petersburg, VA	3.0	1.0	1063	$1,299	$1.22	3d	1	0.21mi
718 Confederate Ave Petersburg, VA	3.0	2.0	852	$1,600	$1.88	3d	1	0.40mi
1649 Delmar Ave Petersburg, VA	3.0	1.5	1248	$1,700	$1.36	3d	1	0.42mi
110 Grigg St Petersburg, VA	3.0	1.5	1200	$1,600	$1.33	3d	1	0.46mi
1800 Boydton Plank Rd Petersburg, VA	1.0–3.0	1.0	900	$1,262	$1.40	3d	14	1.08mi
1517 Halifax St Unit 10 Petersburg, VA	2.0	1.0	900	$995	$1.11	45d	1	1.22mi
1516 W Clara Dr Unit 8 Petersburg, VA	2.0	1.0	1000	$995	$0.99	18d	1	1.24mi
1121 Stainback St Unit 2108 Petersburg, VA	2.0	1.0	800	$995	$1.24	25d	1	1.27mi
1121 Stainback St Unit 5202 Petersburg, VA	2.0	1.0	800	$995	$1.24	45d	1	1.27mi
1111 Stainback St Apt 2 Petersburg, VA	2.0	1.0	750	$895	$1.19	45d	1	1.32mi
408 S West St Petersburg, VA	2.0	1.0	900	$1,095	$1.22	22d	1	1.33mi
1131 Hawk St Petersburg, VA	3.0	2.0	1100	$1,800	$1.64	45d	1	1.36mi
929 Farmer St Petersburg, VA	2.0	1.0	850	$895	$1.05	25d	1	1.48mi

HOA detail

• Monthly dues: $12 · $144/yr

Listing history 2 events

1. 2026-05-14
   status Pending 840-char remark
2. 2026-05-01
   listed $75,900 Active 840-char remark

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% 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: $17,521
• − Mortgage interest: −$4,252
• − Property taxes: −$1,138
• − Insurance: −$380
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − HOA: −$144
• − Depreciation: −$2,208
• Taxable income: $6,596
• Est. tax owed @ 24.0%: −$1,583
• After-tax cash flow: $5,820/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

Poor 30/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to current standards, but presents a unique opportunity for investors to create a move-in-ready home with significant value appreciation.

Repairs flagged

• Major exterior siding — visible damage and wear
• Major kitchen cabinets — dated and worn
• Major bathroom fixtures — dated and worn
• Major flooring — damaged and worn
• Major interior walls — paint peeling and exposed drywall
• Major windows — broken panes

Value-add opportunities

• Both exterior siding repair — enhances curb appeal and value
• Both kitchen and bathroom updates — modernizes spaces and increases value
• Both flooring replacement — improves living space and value
• Both interior wall repairs — restores walls and enhances value
• Both window replacement — enhances safety and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · visible damage and wear	Major	$15,000–50,000
kitchen cabinets · dated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
flooring · damaged and worn	Major	$15,000–50,000
interior walls · paint peeling and exposed drywall	Major	$15,000–50,000
windows · broken panes	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior siding repair — enhances curb appeal and value ↑
• Both kitchen and bathroom updates — modernizes spaces and increases value ↑
• Both flooring replacement — improves living space and value ↑
• Both interior wall repairs — restores walls and enhances value ↑
• Both window replacement — enhances safety and 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: 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

2 events — show timeline

• 2026-05-14 Pending — CVRMLS
• 2026-05-01 Listed $75,900 CVRMLS