601 Roark St · Chase City, VA 23924

$140,000

3 bd · 2.5 ba · 1,248 sqft · SingleFamily public records · 16 Days on market

Built 1970 7,000 sqft lot Est $187k · 25% under

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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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.7/10.0
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious 3bd 2.5bth home with a full basement! This home has lots of potential as an investment property or a great starter home. The main floor has 3 spacious bedroom and 2 full bathrooms, a full kitchen with plenty of cabinet space, a dining room, family room, and living room. You could use these rooms for whatever purposes you'd need! As an investment property you could potentially rent out the main floor as a 3bd 2bth and then finish the basement to be rented as a separate living space. Currently there is a half bathroom in the basement that could be updated to a full bathroom and plenty of space to expand downstairs. The back yard is nice and flat and borders a creek in the back. Plenty of room for kids to play or space for gardening. There is also a small storage shed that comes with the property. Bring your ideas explore all the potential with this spacious small town property!

Key facts

• 7,000 sq ft lot
• Parking
• Built 1970

Property features AI

Exterior

• Parking: Unpaved driveway
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story property; Resale condition; R1 zoning
• Construction: Block construction; Drywall interior; Vinyl siding; Composition shingle roof; Slab foundation; Built as shown in public records
• Exterior features: Rear porch; Patio; Unpaved driveway

Interior

• Kitchen: Laminate counters
• Bedrooms: Includes a bedroom on the main level
• Flooring: Laminate flooring; Partially carpeted
• Bathrooms: Two full bathrooms; One half bathroom; Full bath on first level with tub and shower
• Heating & cooling: Electric baseboard heating; Window air conditioning units
• Interior features: Bedroom on main level; Laminate counters; Walk-out basement; Interior entry to basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 7.3% in Chase City — 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 70/100 on livability (#238 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($968 loan paydown + $3k appreciation (2.0% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,900 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.09%
• DSCR: 1.63
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $187,200
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
516 Berry St	0.13mi	3/2.0	1,333 (+7%)	10mo	$199,900	$150	73
420 Berry St	0.21mi	3/2.0	1,095 (-12%)	9mo	$225,000	$205	60
908 N Main St	0.51mi	4/2.0 (+1)	1,216 (-3%)	8mo	$205,000	$169	58
30 Orchard St	0.58mi	3/1.5	1,227 (-2%)	11mo	$130,000	$106	57
234 Jeffreys Ave	0.34mi	2/1.0 (-1)	1,161 (-7%)	9mo	$140,000	$121	54
414 Berry St	0.22mi	2/1.0 (-1)	1,088 (-13%)	13mo	$100,000	$92	47

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

Projected returns pro-forma

2.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.89×
• Total profit: $34,954
• Equity at exit: $55,519

10-year hold

• IRR: 18.8%
• Equity multiple: 3.51×
• Total profit: $98,311
• Equity at exit: $80,180

Cash invested: $39,200 (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 23924

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,638 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$41 /mo · $495/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $394

Break-even live

Break-even rent $1,140

Max offer price $140,000

Occupancy floor 71%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1035 Roark St Chase City, VA	2.0	1.0	892	$1,800	$2.02	14d	1	0.45mi
761 W 5th St Chase City, VA	3.0	1.0	1040	$1,300	$1.25	14d	1	1.10mi

Listing history 14 events

1. 2026-06-18
   days on market $140,000 Active 16 DOM
2. 2026-06-17
   days on market $140,000 Active 15 DOM
3. 2026-06-16
   days on market $140,000 Active 14 DOM
4. 2026-06-15
   days on market $140,000 Active 13 DOM
5. 2026-06-14
   days on market $140,000 Active 11 DOM
6. 2026-06-13
   days on market $140,000 Active 10 DOM
7. 2026-06-10
   days on market $140,000 Active 8 DOM
8. 2026-06-09
   days on market $140,000 Active 7 DOM
9. 2026-06-08
   days on market $140,000 Active 6 DOM
10. 2026-06-07
    days on market $140,000 Active 5 DOM
11. 2026-06-05
    days on market $140,000 Active 2 DOM
12. 2026-06-03
    remarks 465-char remark
13. 2026-06-03
    remarks 454-char remark
14. 2026-06-03
    listed $140,000 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: $495 · $41/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$653/yr (+$54/mo · 131.9%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% 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: $19,658
• − Mortgage interest: −$7,842
• − Property taxes: −$495
• − Insurance: −$1,498
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − Depreciation: −$4,073
• Taxable income: $2,605
• Est. tax owed @ 24.0%: −$625
• After-tax cash flow: $4,102/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: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Chase City

• Score: 70/100
• State rank: #238
• US rank: #8038

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chase City, VA
• Population (ZIP): 5,709

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 36% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.04%
• Current HPI: 155.5959
• 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

+100.0% since first listed

8 events — show timeline

• 2026-06-02 Listed $140,000 CVRMLS
• 2026-02-10 Listing Removed — CVRMLS
• 2026-01-21 Price Changed $135,000 CVRMLS
• 2025-12-22 Listed $115,000 CVRMLS
• 2022-06-27 Sold (Public Records) $138,000 Public Records
• 2022-06-27 Sold (MLS) $138,000 SPLLAR
• 2022-04-13 Listed $150,000 SPLLAR
• 2007-05-03 Sold (Public Records) $70,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $495 · +0.0% YoY. Source: county tax records.