2006 Dinwiddie Ave · Richmond, VA 23224

$174,900

3 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 31 Days on market

Built 1920 4,717 sqft lot $144/sqft · 28% below area Est $244k · 28% under

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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 +23.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.4/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2006 Dinwiddie Avenue in Richmond’s Oak Grove/Mason Park area. This 3 bedroom, 1 bath two-story home offers approximately 1,216 finished square feet with a functional layout, covered front porch, and fenced yard potential. Features include hardwood flooring, central air, heat pump, vinyl/aluminum siding, and public water/sewer. Conveniently located near Downtown Richmond, major commuter routes, shopping, and dining. Great opportunity for an owner occupant looking to build equity or an investor seeking rental potential. Property is being sold strictly as-is, where-is condition with no warranties expressed or implied. Buyer responsible for all due diligence regarding conditio

Key facts

• Covered front porch
• Hardwood flooring
• Heat pump

Tags

• COVERED FRONT PORCH
• FENCED YARD POTENTIAL
• HARDWOOD FLOORING
• CENTRAL AIR
• HEAT PUMP
• VINYL ALUMINUM SIDING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: 2-story house; Approximately built (year details approximate)
• Construction: Aluminum siding, frame construction, and vinyl siding; Metal and shingle roof; Above-grade finished area approximately 1,216
• Exterior features: R-5 zoning

Interior

• Bathrooms: 1 full bathroom with tub and shower (first level)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 5 total rooms; Resale condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.3% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Richmond City Public School District (urban): math 32% / reading 47% proficiency, ranked #123 of 131 in VA (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.5%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 43% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Richmond County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y 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 $56k; list at $175k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $169,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
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: 1.04% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.99%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (median comp): $243,945
• List price: $174,900
• Delta: -28.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1912 Chicago Ave	0.08mi	3/1.0	1,280 (+5%)	2mo	$150,000	$117	86
2004 Edwards Ave	0.07mi	3/2.0	1,136 (-7%)	1mo	$225,000	$198	81
2010 Gordon Ave	0.20mi	3/2.0	1,164 (-4%)	1mo	$260,200	$224	79
2008 Ingram Ave	0.34mi	3/1.5	1,232 (+1%)	3mo	$285,000	$231	77
2115 Dinwiddie Ave	0.09mi	3/2.0	1,106 (-9%)	2mo	$230,000	$208	75
1809 Gordon Ave	0.19mi	4/2.0 (+1)	1,260 (+4%)	4mo	$220,000	$175	72
1100 E 16th St	0.32mi	3/1.0	1,136 (-7%)	3mo	$237,000	$209	72
2103 Halifax Ave	0.25mi	3/2.0	1,354 (+11%)	0mo	$327,500	$242	65
1200 E 17th St	0.33mi	2/1.0 (-1)	1,080 (-11%)	1mo	$175,000	$162	60
1817 Keswick Ave	0.45mi	3/1.5	1,335 (+10%)	4mo	$287,000	$215	58
2504 Harwood St	0.51mi	3/1.0	1,376 (+13%)	1mo	$259,000	$188	53
1500 Columbia St	0.70mi	4/2.0 (+1)	1,344 (+10%)	1mo	$175,000	$130	40

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 · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-4,748
• Equity at exit: $26,078

10-year hold

• IRR: 8.7%
• Equity multiple: 1.71×
• Total profit: $34,594
• Equity at exit: $15,122

Cash invested: $48,972 (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 23224

• Rents YoY: 4.5%
• Active inventory: 173
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,810 high
• Mortgage (P&I): −$917
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $326

Break-even live

Break-even rent $1,398

Max offer price $174,900

Occupancy floor 77%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1913 Dinwiddie Ave Unit 1546196P Richmond, VA	2.0	1.0	1044	$2,519	$2.41	14d	1	0.03mi
1808 Edwards Ave Richmond, VA	3.0	2.0	1040	$1,750	$1.68	23d	1	0.11mi
1801 Chicago Ave Richmond, VA	2.0	1.0	850	$995	$1.17	23d	1	0.12mi
622 E 18th St Richmond, VA	2.0	1.0	850	$995	$1.17	43d	1	0.14mi
1707 Chicago Ave Richmond, VA	2.0	1.0	750	$995	$1.33	43d	1	0.16mi
2010 Maury St Richmond, VA	2.0	1.0	883	$1,675	$1.90	4d	1	0.20mi
800 Richmond Hwy Richmond, VA	1.0–2.0	1.0–2.0	778	$2,044	$2.63	43d	1	0.22mi
1709 Everett St Richmond, VA	4.0	1.5	1460	$1,995	$1.37	43d	1	0.33mi
1112 E 16th St Richmond, VA	4.0	1.0	1206	$1,595	$1.32	43d	1	0.37mi
2200 Ingram Ave Richmond, VA	2.0	1.0–2.0	711	$1,668	$2.35	4d	1	0.41mi
1100 Richmond Hwy Richmond, VA	1.0–3.0	1.0–2.0	1062	$2,345	$2.21	1d	16	0.44mi
116 E 15th St Richmond, VA	4.0	2.0	1452	$2,250	$1.55	23d	1	0.47mi
2208 Keswick Ave Richmond, VA	3.0	1.0	916	$1,775	$1.94	20d	1	0.53mi
1514 Bainbridge St Unit A Richmond, VA	2.0	1.0	800	$1,299	$1.62	11d	1	0.61mi
1422 Bainbridge St Richmond, VA	2.0	2.0	1121	$2,399	$2.14	2d	1	0.63mi
1305 Chambers St Richmond, VA	2.0	1.0	966	$1,100	$1.14	23d	1	0.63mi
1912 Porter St Richmond, VA	3.0	1.5	1415	$1,950	$1.38	23d	1	0.65mi
1125 Commerce Rd Richmond, VA	1.0–2.0	1.0–1.5	685	$1,409	$2.06	3d	5	0.65mi
201 Cowardin Ave Unit B Richmond, VA	2.0	2.5	1436	$2,200	$1.53	43d	1	0.70mi
1410 Enfield Ave Unit 1410 Richmond, VA	3.0	1.0	912	$1,500	$1.64	43d	1	0.70mi
1411 Porter St Unit B Richmond, VA	3.0	3.0	1500	$2,145	$1.43	4d	1	0.74mi
10 W 27th St Unit P P Richmond, VA	2.0	1.0	975	$1,300	$1.33	43d	1	0.75mi
1207 Bainbridge St Richmond, VA	2.0	2.0	937	$2,250	$2.40	11d	1	0.75mi
1203 Bainbridge St Apt A Richmond, VA	2.0	2.0	927	$1,495	$1.61	43d	1	0.75mi
700 Everett St Richmond, VA	1.0–2.0	1.0–2.0	809	$1,849	$2.28	4d	14	0.76mi
1212 Porter St Apt A Richmond, VA	2.0	2.0	980	$1,995	$2.04	4d	1	0.78mi
700 Stockton St Richmond, VA	1.0–2.0	1.0	1035	$1,805	$1.74	1d	31	0.79mi
2522 Porter St Richmond, VA	3.0	2.5	1390	$1,800	$1.29	43d	1	0.80mi
907 Bainbridge St Unit A Richmond, VA	2.0	2.0	927	$1,995	$2.15	43d	1	0.87mi
1429 McDonough St Richmond, VA	1.0–3.0	1.0–2.0	826	$2,469	$2.99	1d	15	0.87mi
500 Maury St Richmond, VA	2.0	1.0–2.0	665	$2,295	$3.45	3d	17	0.87mi
1021 E 4th St Richmond, VA	1.0–2.0	1.0–2.0	759	$1,449	$1.91	1d	87	0.89mi
500 Stockton St Richmond, VA	1.0–2.0	1.0–2.0	748	$1,346	$1.80	3d	16	0.89mi
616 Hull St Richmond, VA	1.0–2.0	1.0–2.0	756	$1,495	$1.98	4d	5	0.91mi
15 W 7th St Richmond, VA	1.0–3.0	1.0–2.5	881	$3,031	$3.44	1d	6	0.94mi
908 Perry St Richmond, VA	1.0–2.0	1.0–2.0	696	$1,695	$2.44	4d	6	0.94mi
501 Decatur St Richmond, VA	1.0–2.0	1.0–2.0	668	$1,849	$2.77	1d	7	0.96mi
909 Perry St Richmond, VA	1.0–2.0	1.0–2.0	735	$1,765	$2.40	1d	6	0.96mi
403 Stockton St Richmond, VA	1.0–3.0	1.0–2.0	882	$2,140	$2.42	3d	22	0.97mi
84 W 6th St Richmond, VA	3.0	2.0	1493	$2,715	$1.82	3d	1	0.98mi

Listing history 29 events

1. 2026-06-13
   statusdays on market $174,900 Pending 31 DOM
2. 2026-06-10
   days on market $174,900 Active 28 DOM
3. 2026-06-09
   days on market $174,900 Active 27 DOM
4. 2026-06-08
   days on market $174,900 Active 26 DOM
5. 2026-06-07
   days on market $174,900 Active 25 DOM
6. 2026-06-03
   days on market $174,900 Active 21 DOM
7. 2026-06-02
   days on market $174,900 Active 20 DOM
8. 2026-06-01
   days on market $174,900 Active 19 DOM
9. 2026-05-31
   days on market $174,900 Active 18 DOM
10. 2026-05-12
    listed $174,900 Active 798-char remark
11. 2025-01-13
    historical
12. 2024-12-20
    listed $215,000 Active
13. 2024-04-25
    historical
14. 2024-03-15
    listed $239,000 Active
15. 2024-03-15
    historical
16. 2024-02-13
    status Active
17. 2024-02-04
    status Pending
18. 2024-01-16
    price $239,000
19. 2024-01-04
    listed $249,000 Active
20. 2024-01-04
    historical
21. 2023-12-14
    status Active
22. 2018-07-05
    soldstatus $56,250
23. 2010-06-01
    historical
24. 2010-06-01
    historical
25. 2009-12-14
    listed $57,000
26. 2009-12-14
    listed $57,000
27. 2004-01-28
    soldstatus $25,000
28. 2003-02-07
    listed $30,000
29. 2003-02-07
    listed $30,000

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $1,434 · $120/mo
• Expected delta: +$66/yr (+$6/mo · 4.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,723
• − Mortgage interest: −$9,797
• − Property taxes: −$1,368
• − Insurance: −$874
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − Depreciation: −$5,088
• Taxable income: $1,119
• Est. tax owed @ 24.0%: −$269
• After-tax cash flow: $3,643/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: Richmond City Public School District
• NCES district ID: 5103240
• Math proficiency: 32% ▼ -24.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $40,276
• Composite: 33.09/100
• National rank: #5564
• State rank: #123 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, VA
• County: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 40,575
• Household income: $50,475
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3584.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 262,263 people
• By 2030: 284,503 · +8.5%
• By 2040: 327,353 · +24.8%
• By 2050: 367,946 · +40.3%
• By 2075: 449,560 · +71.4%
• By 2100: 500,301 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 22% White 15% Two or more races 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 17% · Canada
• Languages at home: 78% English-only · Spanish 19% French/Haitian/Cajun 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+66.3) · D 82.0% · R 15.8% · Other 2.2%
• 2008→2024 swing: +7.2pp toward D · 2008: 59.1pp · 2024: 66.3pp
• All cycles: 2024: D+66.3 2020: D+68.0 2016: D+63.8 2012: D+55.7 2008: D+59.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -283.99%
• Current HPI: 336.9345
• Rent YoY: ▲ 4.55%
• 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

+483.0% since first listed

21 events — show timeline

• 2026-06-13 Pending — CVRMLS
• 2026-05-12 Listed $174,900 CVRMLS
• 2025-01-13 Listing Removed — CVRMLS
• 2024-12-20 Listed $215,000 CVRMLS
• 2024-04-25 Listing Removed — CVRMLS
• 2024-03-15 Listing Removed — CVRMLS
• 2024-03-15 Listed $239,000 CVRMLS
• 2024-02-13 Relisted — CVRMLS
• 2024-02-04 Pending — CVRMLS
• 2024-01-16 Price Changed $239,000 CVRMLS
• 2024-01-04 Listing Removed — CVRMLS
• 2024-01-04 Listed $249,000 CVRMLS
• 2023-12-14 Relisted — CVRMLS
• 2018-07-05 Sold (Public Records) $56,250 Public Records
• 2010-06-01 Listing Removed — CVRMLS
• 2010-06-01 Listing Removed — CVRMLS
• 2009-12-14 Listed $57,000 CVRMLS
• 2009-12-14 Listed $57,000 CVRMLS
• 2004-01-28 Sold (MLS) $25,000 CVRMLS
• 2003-02-07 Listed $30,000 CVRMLS
• 2003-02-07 Listed $30,000 CVRMLS

Property tax history

+5.4%/yr

Latest (2022): $1,368 · +78.1% YoY. Source: county tax records.