102 Piccadilly Ct · Forest, VA 24556

$399,900

3 bd · 2.0 ba · 1,628 sqft · SingleFamily public records · 5 Days on market

Built 1993 1.06 ac lot $246/sqft · 18% above area Est $432k · 7% under

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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).

• ARV discount +10.9/15.0
• Appreciation +10.0/10.0
• Cash flow +5.8/30.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.2/10.0
• 1% rule +0.0/10.0

Listing remarks MLS

Location, Location, Location!!! This home is conveniently located off 460W in Goode. From the moment you pull in the driveway you will fall in love with the rocking chair front porch. Upon stepping inside you'll find an open concept living with gas fireplace, dining and kitchen space making this a great home for entertaining. Also on the main level is a sun porch, large master bedroom with bath and his and hers closets, 2 additional bedrooms and a full bath. The terrace level offers a large den with gas fireplace, half bath, laundry area, and two additional rooms that could be utilized for a playroom, office or potential bedrooms. Off the terrace level walkout is a large covered patio and sidewalk leading to the separate workshop space.

Key facts

• Bright sun porch
• Above-ground pool
• Expansive deck

Tags

• ABOVE-GROUND POOL
• EXPANSIVE DECK
• ROCKING CHAIR FRONT PORCH
• OPEN-CONCEPT MAIN LEVEL
• BRIGHT SUN PORCH
• FINISHED TERRACE LEVEL

Property features AI

Exterior

• Parking: Attached garage
• Utilities: Well water; Septic tank; Cable available; Underground utilities
• Home design: Single-family residential home; One story
• Construction: Brick and vinyl siding exterior; Shingle roof; Built with a full finished basement
• Exterior features: Garden; Patio; Above-ground private pool; Workshop (other structure); Has view

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; Electric water heater
• Flooring: Carpet; Hardwood; Laminate; Wood
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump (heating); Has heating
• Interior features: Two gas-log fireplaces, one in the great room; Finished full walk-out basement; Garden visible from the property
• Laundry & utility: Washer and dryer; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-794 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (35.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (50.6% below list).
• Recommended offer: $198k (50.6% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 2.9% in Forest — 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 76/100 on livability (#114 in VA, #3,521 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: amenities F, commute F.
• Bedford County Public School District (rural): math 55% / reading 73% proficiency, ranked #41 of 131 in VA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: New London Academy Elementary (math 74% / reading 74%, grade A, #220 of 1,108 statewide, top 22%, 333 students, 28% FRL); Forest Middle (math 71% / reading 85%, grade A+, #34 of 342 statewide, top 10%, 870 students, 22% FRL); Jefferson Forest High (math 59% / reading 81%, grade B+, #151 of 319 statewide, top 49%, 1,309 students, 23% FRL).
• Market conditions: 42 active listings in the ZIP; 294 units permitted in Bedford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Bedford County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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.
• Current owner paid $208k; list at $400k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $197,693 (50.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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?
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: 0.49% ✗
• Cap rate: 3.91%
• Cash-on-cash: -8.50%
• DSCR: 0.62
• GRM: 16.9

CMA / ARV

• ARV (median comp): $432,167
• List price: $399,900
• Delta: -7.47%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2540 Goode Rd	0.50mi	3/2.0	1,836 (+13%)	16mo	$245,750	$134	42

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 2.49×
• Total profit: $167,036
• Equity at exit: $360,262

10-year hold

• IRR: 17.0%
• Equity multiple: 5.74×
• Total profit: $531,198
• Equity at exit: $776,918

Cash invested: $111,972 (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 24556

• Home prices YoY: 3.6%
• Active inventory: 42
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $1,977 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$92 /mo · $1,098/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $-794

Break-even live

Break-even rent $2,981

Max offer price $259,725

Occupancy floor —

Sensitivity live

Price	-10% $-567	-5% $-680	+0% $-794	+5% $-907	+10% $-1,020
Rent	-10% $-950	-5% $-872	+0% $-794	+5% $-715	+10% $-637
Rate	-1.0pp $-592	-0.5pp $-692	base $-794	+0.5pp $-897	+1.0pp $-1,003

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-07
   status Pending 993-char remark
2. 2026-05-02
   listed $399,900 Active 993-char remark
3. 2018-04-26
   soldstatus $208,000 746-char remark

   Show marketing remark (746 chars)

   Location, Location, Location!!! This home is conveniently located off 460W in Goode. From the moment you pull in the driveway you will fall in love with the rocking chair front porch. Upon stepping inside you'll find an open concept living with gas fireplace, dining and kitchen space making this a great home for entertaining. Also on the main level is a sun porch, large master bedroom with bath and his and hers closets, 2 additional bedrooms and a full bath. The terrace level offers a large den with gas fireplace, half bath, laundry area, and two additional rooms that could be utilized for a playroom, office or potential bedrooms. Off the terrace level walkout is a large covered patio and sidewalk leading to the separate workshop space.

4. 2018-04-26
   soldstatus $208,000

   Show marketing remark (746 chars)

   Location, Location, Location!!! This home is conveniently located off 460W in Goode. From the moment you pull in the driveway you will fall in love with the rocking chair front porch. Upon stepping inside you'll find an open concept living with gas fireplace, dining and kitchen space making this a great home for entertaining. Also on the main level is a sun porch, large master bedroom with bath and his and hers closets, 2 additional bedrooms and a full bath. The terrace level offers a large den with gas fireplace, half bath, laundry area, and two additional rooms that could be utilized for a playroom, office or potential bedrooms. Off the terrace level walkout is a large covered patio and sidewalk leading to the separate workshop space.

5. 2018-01-02
   listed $217,900 746-char remark

   Show marketing remark (746 chars)

   Location, Location, Location!!! This home is conveniently located off 460W in Goode. From the moment you pull in the driveway you will fall in love with the rocking chair front porch. Upon stepping inside you'll find an open concept living with gas fireplace, dining and kitchen space making this a great home for entertaining. Also on the main level is a sun porch, large master bedroom with bath and his and hers closets, 2 additional bedrooms and a full bath. The terrace level offers a large den with gas fireplace, half bath, laundry area, and two additional rooms that could be utilized for a playroom, office or potential bedrooms. Off the terrace level walkout is a large covered patio and sidewalk leading to the separate workshop space.

6. 2016-09-12
   soldstatus $203,900
7. 2016-09-09
   soldstatus $203,900

   Show marketing remark (700 chars)

   Desirable Goode location with Forest schools and convenience to 460 or 221. Vaulted ceilings and Inviting open floor plan allow kitchen, dining, and living areas to flow perfectly for entertaining, large master boasts his and hers oversized closets, two additional spacious bedrooms and bath complete the main level, lower level with expansive finished den, additional bath, two additional rooms that could serve as offices, playroom, or flex bedroom space. Full separate workshop wired for a complete woodshop is a hobbyists dream! Rocking chair front porch, sunroom, and 2 car attached main level garage all situated on a picturesque spacious lot make this a hard to find and perfect combination!

8. 2016-03-25
   listed $206,900

   Show marketing remark (700 chars)

   Desirable Goode location with Forest schools and convenience to 460 or 221. Vaulted ceilings and Inviting open floor plan allow kitchen, dining, and living areas to flow perfectly for entertaining, large master boasts his and hers oversized closets, two additional spacious bedrooms and bath complete the main level, lower level with expansive finished den, additional bath, two additional rooms that could serve as offices, playroom, or flex bedroom space. Full separate workshop wired for a complete woodshop is a hobbyists dream! Rocking chair front porch, sunroom, and 2 car attached main level garage all situated on a picturesque spacious lot make this a hard to find and perfect combination!

ⓘ 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: $1,098 · $92/mo
• Projected year-2 tax: $3,279 · $273/mo
• Expected delta: +$2,181/yr (+$182/mo · 198.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,723
• − Mortgage interest: −$22,401
• − Property taxes: −$1,098
• − Insurance: −$2,000
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − Depreciation: −$11,633
• Taxable loss: −$17,205
• Est. tax savings @ 24.0%: +$4,129
• After-tax cash flow: $-5,393/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: Bedford County Public School District
• NCES district ID: 5100360
• Math proficiency: 55% ▼ -29.00%
• Reading proficiency: 73% ▼ -7.00%
• Median HH income: $56,288
• Composite: 54.92/100
• National rank: #1310
• State rank: #41 of 131 in VA

Livability — Forest

• Score: 76/100
• State rank: #114
• US rank: #3521

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 28,554
• Population (ZIP): 2,695

Population outlook (Bedford County) Hauer SSP2

• Today (2025): 83,194 people
• By 2030: 85,499 · +2.8%
• By 2040: 88,834 · +6.8%
• By 2050: 90,060 · +8.3%
• By 2075: 94,131 · +13.1%
• By 2100: 89,832 · +8.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Black 3% Asian 3% Native American 1% Hispanic / Latino 1%
• Common ancestry: Lithuanian 5% Romanian 3% Italian 3%
• Foreign-born: 5%
• Languages at home: 95% English-only · Tagalog/Filipino 2% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Bedford

• 2024 margin: Solid R (+50.4) · D 24.4% · R 74.8%
• 2008→2024 swing: -13.0pp toward R · 2008: -37.4pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+48.1 2016: R+49.4 2012: R+45.0 2008: R+37.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.28%
• Current HPI: 326.0488
• 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

+93.3% since first listed

8 events — show timeline

• 2026-05-07 Pending — LMLS
• 2026-05-02 Listed $399,900 LMLS
• 2018-04-26 Sold (Public Records) $208,000 Public Records
• 2018-04-26 Sold (MLS) $208,000 LMLS
• 2018-01-02 Listed $217,900 LMLS
• 2016-09-12 Sold (Public Records) $203,900 Public Records
• 2016-09-09 Sold (MLS) $203,900 LMLS
• 2016-03-25 Listed $206,900 LMLS

Property tax history

+1.3%/yr

Latest (2025): $1,098 · +0.0% YoY. Source: county tax records.