214 Harris St · Martinsville, VA 24112

$54,500

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 181 Days on market

Built 1754 0.28 ac lot $57/sqft · 41% below area Est $92k · 41% under ↓ 22% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover affordable living just outside the Martinsville city limits in this 1.5-story home located in Henry County. Offering 960 sq. ft. of living space, additional living space is available upstairs by adding a heat source. This home offers vinyl siding exterior, architectural-looking shingle roof and updated windows. Inside, you'll find a floor plan ready for personal touches. The interior would benefit from updating, and the kitchen presents a great opportunity for a complete makeover-ideal for new cabinetry, fresh paint, and flooring to suit your style. The bath has been updated at some point and the laundry connections moved to the main living level. An unfinished basement is available for more storage space or workshop. Conveniently located approx. 10 minutes from the local mall, community college, hospital, and a variety of fast-food restaurants, it's looking for the special one to invest their sweat equity to make it a home once again. Property info per assessor. Buyer to verify to their satisfaction. AGENTs-see ADDITIONAL INSTRUCTIONS under mls DOCS tab for offers. Condition/age of roof, mechanicals, HVAC, etc. unknown. Room upstairs not counted in total sq. ft. AGENTS, instructions for submitting offers under mls DOCS tab.

Key facts

• Updated windows
• Unfinished basement
• 0.28 acre lot

Tags

• VINYL SIDING EXTERIOR
• UPDATED WINDOWS
• UNFINISHED BASEMENT
• LAUNDRY CONNECTIONS MOVED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($940 rent vs $54k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 5.9% in Martinsville — 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 (#231 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 D-.
• 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; 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 $377 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1754 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1754 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.73% ✓
• Cap rate: 15.45%
• Cash-on-cash: 32.71%
• DSCR: 2.46
• GRM: 4.8

CMA / ARV

• ARV (median comp): $91,927
• List price: $54,500
• Delta: -40.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Harris St	0.00mi	2/1.0	960 (0%)	1mo	$46,500	$48	100
810 Clearview Dr	0.30mi	3/1.0 (+1)	950 (-1%)	19mo	$150,000	$158	63
518 Glendale St	0.37mi	3/1.0 (+1)	888 (-8%)	7mo	$113,000	$127	59
526 Glendale St	0.32mi	3/1.0 (+1)	864 (-10%)	8mo	$128,000	$148	57
710 Mica St	0.33mi	3/1.0 (+1)	1,040 (+8%)	12mo	$130,000	$125	55
712 Mica St	0.32mi	3/1.0 (+1)	1,040 (+8%)	13mo	$125,000	$120	55
520 Glendale St	0.36mi	3/1.0 (+1)	864 (-10%)	9mo	$40,000	$46	54
309 Clearview Dr	0.71mi	3/1.0 (+1)	1,014 (+6%)	12mo	$139,405	$137	43
306 Wren Ct	0.68mi	3/1.0 (+1)	1,092 (+14%)	22mo	$124,700	$114	21

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: 27.8%
• Equity multiple: 2.16×
• Total profit: $17,642
• Equity at exit: $8,126

10-year hold

• IRR: 35.3%
• Equity multiple: 4.24×
• Total profit: $49,406
• Equity at exit: $4,712

Cash invested: $15,260 (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: 4.8×

Monthly cashflow live

• Estimated rent: $940 medium
• Mortgage (P&I): −$286
• Tax from tax record: −$18 /mo · $220/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $416

Break-even live

Break-even rent $414

Max offer price $54,500

Occupancy floor 51%

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: $13,625
• Closing costs: $1,635
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-20
   historical Active Under Contract 1254-char remark

   Show marketing remark (1254 chars)

   Discover affordable living just outside the Martinsville city limits in this 1.5-story home located in Henry County. Offering 960 sq. ft. of living space, additional living space is available upstairs by adding a heat source. This home offers vinyl siding exterior, architectural-looking shingle roof and updated windows. Inside, you'll find a floor plan ready for personal touches. The interior would benefit from updating, and the kitchen presents a great opportunity for a complete makeover-ideal for new cabinetry, fresh paint, and flooring to suit your style. The bath has been updated at some point and the laundry connections moved to the main living level. An unfinished basement is available for more storage space or workshop. Conveniently located approx. 10 minutes from the local mall, community college, hospital, and a variety of fast-food restaurants, it's looking for the special one to invest their sweat equity to make it a home once again. Property info per assessor. Buyer to verify to their satisfaction. AGENTs-see ADDITIONAL INSTRUCTIONS under mls DOCS tab for offers. Condition/age of roof, mechanicals, HVAC, etc. unknown. Room upstairs not counted in total sq. ft. AGENTS, instructions for submitting offers under mls DOCS tab.

2. 2026-04-29
   status Active 1254-char remark

   Show marketing remark (1254 chars)

   Discover affordable living just outside the Martinsville city limits in this 1.5-story home located in Henry County. Offering 960 sq. ft. of living space, additional living space is available upstairs by adding a heat source. This home offers vinyl siding exterior, architectural-looking shingle roof and updated windows. Inside, you'll find a floor plan ready for personal touches. The interior would benefit from updating, and the kitchen presents a great opportunity for a complete makeover-ideal for new cabinetry, fresh paint, and flooring to suit your style. The bath has been updated at some point and the laundry connections moved to the main living level. An unfinished basement is available for more storage space or workshop. Conveniently located approx. 10 minutes from the local mall, community college, hospital, and a variety of fast-food restaurants, it's looking for the special one to invest their sweat equity to make it a home once again. Property info per assessor. Buyer to verify to their satisfaction. AGENTs-see ADDITIONAL INSTRUCTIONS under mls DOCS tab for offers. Condition/age of roof, mechanicals, HVAC, etc. unknown. Room upstairs not counted in total sq. ft. AGENTS, instructions for submitting offers under mls DOCS tab.

3. 2026-03-24
   historical Active Under Contract 1254-char remark

   Show marketing remark (1254 chars)

   Discover affordable living just outside the Martinsville city limits in this 1.5-story home located in Henry County. Offering 960 sq. ft. of living space, additional living space is available upstairs by adding a heat source. This home offers vinyl siding exterior, architectural-looking shingle roof and updated windows. Inside, you'll find a floor plan ready for personal touches. The interior would benefit from updating, and the kitchen presents a great opportunity for a complete makeover-ideal for new cabinetry, fresh paint, and flooring to suit your style. The bath has been updated at some point and the laundry connections moved to the main living level. An unfinished basement is available for more storage space or workshop. Conveniently located approx. 10 minutes from the local mall, community college, hospital, and a variety of fast-food restaurants, it's looking for the special one to invest their sweat equity to make it a home once again. Property info per assessor. Buyer to verify to their satisfaction. AGENTs-see ADDITIONAL INSTRUCTIONS under mls DOCS tab for offers. Condition/age of roof, mechanicals, HVAC, etc. unknown. Room upstairs not counted in total sq. ft. AGENTS, instructions for submitting offers under mls DOCS tab.

4. 2026-02-23
   price $54,500 1254-char remark

   Show marketing remark (1254 chars)

   Discover affordable living just outside the Martinsville city limits in this 1.5-story home located in Henry County. Offering 960 sq. ft. of living space, additional living space is available upstairs by adding a heat source. This home offers vinyl siding exterior, architectural-looking shingle roof and updated windows. Inside, you'll find a floor plan ready for personal touches. The interior would benefit from updating, and the kitchen presents a great opportunity for a complete makeover-ideal for new cabinetry, fresh paint, and flooring to suit your style. The bath has been updated at some point and the laundry connections moved to the main living level. An unfinished basement is available for more storage space or workshop. Conveniently located approx. 10 minutes from the local mall, community college, hospital, and a variety of fast-food restaurants, it's looking for the special one to invest their sweat equity to make it a home once again. Property info per assessor. Buyer to verify to their satisfaction. AGENTs-see ADDITIONAL INSTRUCTIONS under mls DOCS tab for offers. Condition/age of roof, mechanicals, HVAC, etc. unknown. Room upstairs not counted in total sq. ft. AGENTS, instructions for submitting offers under mls DOCS tab.

5. 2026-01-27
   price $59,900 1254-char remark

   Show marketing remark (1254 chars)

   Discover affordable living just outside the Martinsville city limits in this 1.5-story home located in Henry County. Offering 960 sq. ft. of living space, additional living space is available upstairs by adding a heat source. This home offers vinyl siding exterior, architectural-looking shingle roof and updated windows. Inside, you'll find a floor plan ready for personal touches. The interior would benefit from updating, and the kitchen presents a great opportunity for a complete makeover-ideal for new cabinetry, fresh paint, and flooring to suit your style. The bath has been updated at some point and the laundry connections moved to the main living level. An unfinished basement is available for more storage space or workshop. Conveniently located approx. 10 minutes from the local mall, community college, hospital, and a variety of fast-food restaurants, it's looking for the special one to invest their sweat equity to make it a home once again. Property info per assessor. Buyer to verify to their satisfaction. AGENTs-see ADDITIONAL INSTRUCTIONS under mls DOCS tab for offers. Condition/age of roof, mechanicals, HVAC, etc. unknown. Room upstairs not counted in total sq. ft. AGENTS, instructions for submitting offers under mls DOCS tab.

6. 2026-01-08
   price $64,900 1254-char remark

   Show marketing remark (1254 chars)

   Discover affordable living just outside the Martinsville city limits in this 1.5-story home located in Henry County. Offering 960 sq. ft. of living space, additional living space is available upstairs by adding a heat source. This home offers vinyl siding exterior, architectural-looking shingle roof and updated windows. Inside, you'll find a floor plan ready for personal touches. The interior would benefit from updating, and the kitchen presents a great opportunity for a complete makeover-ideal for new cabinetry, fresh paint, and flooring to suit your style. The bath has been updated at some point and the laundry connections moved to the main living level. An unfinished basement is available for more storage space or workshop. Conveniently located approx. 10 minutes from the local mall, community college, hospital, and a variety of fast-food restaurants, it's looking for the special one to invest their sweat equity to make it a home once again. Property info per assessor. Buyer to verify to their satisfaction. AGENTs-see ADDITIONAL INSTRUCTIONS under mls DOCS tab for offers. Condition/age of roof, mechanicals, HVAC, etc. unknown. Room upstairs not counted in total sq. ft. AGENTS, instructions for submitting offers under mls DOCS tab.

7. 2025-11-29
   listed $69,900 Active 1254-char remark

   Show marketing remark (1254 chars)

   Discover affordable living just outside the Martinsville city limits in this 1.5-story home located in Henry County. Offering 960 sq. ft. of living space, additional living space is available upstairs by adding a heat source. This home offers vinyl siding exterior, architectural-looking shingle roof and updated windows. Inside, you'll find a floor plan ready for personal touches. The interior would benefit from updating, and the kitchen presents a great opportunity for a complete makeover-ideal for new cabinetry, fresh paint, and flooring to suit your style. The bath has been updated at some point and the laundry connections moved to the main living level. An unfinished basement is available for more storage space or workshop. Conveniently located approx. 10 minutes from the local mall, community college, hospital, and a variety of fast-food restaurants, it's looking for the special one to invest their sweat equity to make it a home once again. Property info per assessor. Buyer to verify to their satisfaction. AGENTs-see ADDITIONAL INSTRUCTIONS under mls DOCS tab for offers. Condition/age of roof, mechanicals, HVAC, etc. unknown. Room upstairs not counted in total sq. ft. AGENTS, instructions for submitting offers under mls DOCS tab.

ⓘ 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: $220 · $18/mo
• Projected year-2 tax: $447 · $37/mo
• Expected delta: +$227/yr (+$19/mo · 103.3%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 17 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: $11,282
• − Mortgage interest: −$3,053
• − Property taxes: −$220
• − Insurance: −$272
• − Repairs & maintenance: −$903
• − Management: −$903
• − Depreciation: −$1,585
• Taxable income: $4,346
• Est. tax owed @ 24.0%: −$1,043
• After-tax cash flow: $3,948/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: 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 — Martinsville

• Score: 70/100
• State rank: #231
• US rank: #7826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Martinsville City · 31,028 people
• City population: 31,028
• 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

-22.0% since first listed

7 events — show timeline

• 2026-05-20 Contingent — MHPCAR
• 2026-04-29 Relisted — MHPCAR
• 2026-03-24 Contingent — MHPCAR
• 2026-02-23 Price Changed $54,500 MHPCAR
• 2026-01-27 Price Changed $59,900 MHPCAR
• 2026-01-08 Price Changed $64,900 MHPCAR
• 2025-11-29 Listed $69,900 MHPCAR

Property tax history

+1.0%/yr

Latest (2025): $220 · +0.0% YoY. Source: county tax records.