1021 Kendrick St · South Boston, VA 24592

$35,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 44 Days on market

Built 1991 0.50 ac lot ↓ 22% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.0/30.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Property to be sold via live simulcast auction on Thursday April 30 at 11:00 AM. Visit auctioneer's website to register and bid. Listing price is opening bid. No pre-auction offers. 1021 Kendrick Street, South Boston, VA 24592 offers an affordable Halifax County opportunity with upside. Situated on approximately 0.5+/- acre, the property is improved by a 1991 double-wide manufactured home containing approximately 1,296 square feet with 3 bedrooms and 2 full baths. The home includes a front porch and rear deck and will appeal to investors, renovators, landlords, and buyers seeking a project property in the Town of South Boston. Property shows deferred maintenance and is being sold in as-is c

Key facts

• 0.5 acre lot
• Built 1991
• Listed 44 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Frame construction with vinyl siding; Metal and shingle roof
• Exterior features: Half-acre lot

Interior

• Bathrooms: 2 full bathrooms; One full bath on the first floor with tub & shower
• Heating & cooling: Electric cooling; Heating via electric and natural gas forced air
• Interior features: Total of 5 rooms; Resale condition

🔨 Auction listing. The $35,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $216,432 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $-409 ($-5k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#147 in VA, #4,742 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Halifax County Public School District (town): math 29% / reading 59% proficiency, ranked #116 of 131 in VA (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Halifax County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 9.3% of price.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,950 (3.0% 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. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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. 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?
8. 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.
9. 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.
10. 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: 0.64% ✗
• Cap rate: 4.02%
• Cash-on-cash: -8.11%
• DSCR: 0.64
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $216,432
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2021 N Main St	0.18mi	3/2.0	1,260 (-3%)	10mo	$30,000	$24	79
605 Greenway Dr	0.27mi	3/2.0	1,479 (+14%)	14mo	$247,000	$167	53
1411 Elliott Ave	0.56mi	3/2.0	1,132 (-13%)	12mo	$210,000	$186	43
1335 Washington Ave	0.59mi	2/1.0 (-1)	1,158 (-11%)	12mo	$58,000	$50	36

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: -30.5%
• Equity multiple: -0.01×
• Total profit: $-61,129
• Equity at exit: $32,271

10-year hold

• IRR: -32.7%
• Equity multiple: -0.43×
• Total profit: $-86,727
• Equity at exit: $18,713

Cash invested: $60,601 (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 24592

• Home prices YoY: -27.0%
• Active inventory: 61
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$1,135
• Tax est. 1.5%: −$271 /mo · $3,246/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-409

Break-even live

Break-even rent $1,893

Max offer price $157,182

Occupancy floor —

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: $54,108
• Closing costs: $6,493
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Jefferson Ave Apt 113 South Boston, VA	2.0	2.0	1119	$1,375	$1.23	43d	1	1.00mi

Listing history 3 events

1. 2026-05-01
   status Pending
2. 2026-04-22
   price $35,000
3. 2026-03-16
   listed $45,000 Active

ⓘ 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: $302 · $25/mo
• Projected year-2 tax: $302 · $25/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $16,500
• − Mortgage interest: −$12,124
• − Property taxes: −$3,246
• − Insurance: −$1,082
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$6,296
• Taxable loss: −$8,888
• Est. tax savings @ 24.0%: +$2,133
• After-tax cash flow: $-2,780/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: Halifax County Public School District
• NCES district ID: 5101770
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 59% ▼ -15.00%
• Median HH income: $36,137
• Composite: 36.36/100
• National rank: #4687
• State rank: #116 of 131 in VA

Livability — South Boston

• Score: 74/100
• State rank: #147
• US rank: #4742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Boston, VA
• Population (ZIP): 14,411

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 32,892 people
• By 2030: 31,438 · -4.4%
• By 2040: 28,350 · -13.8%
• By 2050: 25,553 · -22.3%
• By 2075: 20,217 · -38.5%
• By 2100: 14,645 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 40% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Halifax

• 2024 margin: Strong R (+21.1) · D 39.1% · R 60.2%
• 2008→2024 swing: -18.2pp toward R · 2008: -2.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+15.1 2016: R+16.6 2012: R+5.6 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.37%
• Current HPI: 190.3767
• 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

-22.2% since first listed

3 events — show timeline

• 2026-05-01 Pending — CVRMLS
• 2026-04-22 Price Changed $35,000 CVRMLS
• 2026-03-16 Listed $45,000 CVRMLS

Property tax history

+2.5%/yr

Latest (2025): $302 · +0.0% YoY. Source: county tax records.