102 Culpepper Ave · Petersburg, VA 23803

$141,800

2 bd · 1.0 ba · 807 sqft · SingleFamily public records · 24 Days on market

Built 1940 5,349 sqft lot $176/sqft · 12% below area Est $160k · 12% under

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Why this score? — see what drove the C 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 +17.7/30.0
• ARV discount +12.7/15.0
• Appreciation +5.7/10.0
• DSCR +5.5/10.0
• Rent growth +4.0/5.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks

Ideal Investor opportunity: Great for buyers, entrepreneurs, or investors looking for that rental property. This 807 square foot home with 3 bedroom and 1 full bath. Covered front porch, and spacious backyard with detached shed. Offers an opportunity to come in and make this your home or rental. This charming home offers 3- bedrooms, and a spacious backyard for possible pets, gardening, or future outside projects. Includes useful storage sheds and convenient on-street or side property parking options. Functional layout with plenty of potential to personalize and make your own. Conveniently located near major roads, dining, and other nearby amenities. Great value with flexibility to homeowne

Key facts

• Covered front porch
• On-street parking
• Spacious backyard

Tags

• COVERED FRONT PORCH
• SPACIOUS BACKYARD
• DETACHED SHED
• USEFUL STORAGE SHEDS
• ON-STREET PARKING
• SIDE PROPERTY PARKING

Property features AI

Exterior

• Parking: Driveway parking; On-street parking; Unpaved parking
• Utilities: Public water; Public sewer; Electric water heating
• Home design: Single-story residence; Resale property
• Construction: Aluminum siding, vinyl siding, wood siding, and drywall exterior materials; Composition/shingle roof
• Exterior features: Front porch; Storage shed; Unpaved driveway

Interior

• Bedrooms: Total of 6 rooms (bedrooms and other rooms combined)
• Flooring: Linoleum
• Bathrooms: 1 full bathroom with a shower (on the first level)
• Heating & cooling: Wall furnace heating; Window unit(s) for cooling
• Interior features: Linoleum flooring; Crawl space basement
• Laundry & utility: Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (11.0% below list).
• Recommended offer: $126k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.5% in Petersburg — 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 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 290 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($980 loan paydown + $2k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 5.9% rent growth), your $40k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 21y 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 $42k; list at $142k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% 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 $126,241 (11.0% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.89% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

• ARV (median comp): $160,245
• List price: $141,800
• Delta: -11.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
80 Slagle Ave	0.07mi	2/1.0	720 (-11%)	1mo	$169,000	$235	78
63 Culpeper Ave	0.10mi	2/1.0	720 (-11%)	1mo	$110,000	$153	77
101 Slagle Ave	0.07mi	2/1.0	720 (-11%)	2mo	$160,000	$222	77
76 Henrico St	0.30mi	2/1.0	816 (+1%)	9mo	$135,000	$165	76
59 Monument Ave	0.16mi	2/1.0	720 (-11%)	3mo	$174,950	$243	72
2035 Richmond Ave	0.43mi	2/1.0	780 (-3%)	18mo	$123,000	$158	59
1102 7th St	0.45mi	3/1.0 (+1)	864 (+7%)	5mo	$182,000	$211	58
1029 7th St	0.55mi	2/1.0	768 (-5%)	11mo	$150,000	$195	57
1060 Amelia St	0.47mi	3/1.0 (+1)	769 (-5%)	14mo	$178,000	$231	54
1111 Sussex St	0.41mi	3/1.5 (+1)	912 (+13%)	6mo	$2,273,000	$2,492	48
923 Wills Rd	0.67mi	2/1.0	741 (-8%)	16mo	$119,000	$161	41

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

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.42×
• Total profit: $16,753
• Equity at exit: $51,748

10-year hold

• IRR: 13.2%
• Equity multiple: 2.78×
• Total profit: $70,742
• Equity at exit: $71,430

Cash invested: $39,704 (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 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 290
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,262 high
• Mortgage (P&I): −$744
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $113

Break-even live

Break-even rent $1,119

Max offer price $141,800

Occupancy floor 86%

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: $35,450
• Closing costs: $4,254
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2310 Richmond Ave Petersburg, VA	2.0	1.0	728	$1,250	$1.72	24d	1	0.65mi
129 S Old Church St Petersburg, VA	3.0	1.0	640	$1,250	$1.95	24d	1	0.81mi
445 Roundtop Ave Petersburg, VA	2.0	1.0	750	$1,050	$1.40	2d	3	0.98mi
120 S Little Church St Petersburg, VA	2.0	2.5	600	$1,475	$2.46	24d	1	0.99mi
424 Roundtop Ave Petersburg, VA	3.0	1.0	988	$1,350	$1.37	44d	1	1.07mi
250 E Bank St Petersburg, VA	2.0	1.0–2.0	862	$1,509	$1.75	2d	19	1.29mi
219 E Bank St Apt 217 Petersburg, VA	1.0	1.0	615	$1,295	$2.11	44d	1	1.34mi
219 E Bank St Apt 136 Petersburg, VA	1.0	1.0	569	$1,150	$2.02	44d	1	1.34mi
219 E Bank St Apt 126 Petersburg, VA	1.0	1.0	671	$1,275	$1.90	24d	1	1.34mi
219 E Bank St Apt 227 Petersburg, VA	1.0	1.0	615	$1,075	$1.75	24d	1	1.34mi
219 E Bank St Apt 134 Petersburg, VA	1.0	1.0	569	$1,175	$2.07	15d	1	1.34mi
219 E Bank St Apt 121 Petersburg, VA	1.0	1.0	569	$1,180	$2.07	44d	1	1.34mi
219 E Bank St Apt 125 Petersburg, VA	1.0	1.0	671	$1,195	$1.78	3d	1	1.34mi
219 E Bank St Unit 215 Petersburg, VA	1.0	1.0	615	$1,195	$1.94	10d	1	1.36mi

Listing history 37 events

1. 2026-06-18
   days on market $141,800 Active 24 DOM
2. 2026-06-17
   price $141,800 Active 23 DOM
3. 2026-06-17
   days on market $141,900 Active 23 DOM
4. 2026-06-16
   days on market $141,900 Active 22 DOM
5. 2026-06-15
   days on market $141,900 Active 21 DOM
6. 2026-06-13
   days on market $141,900 Active 19 DOM
7. 2026-06-10
   days on market $141,900 Active 16 DOM
8. 2026-06-09
   days on market $141,900 Active 15 DOM
9. 2026-06-08
   days on market $141,900 Active 14 DOM
10. 2026-06-07
    days on market $141,900 Active 13 DOM
11. 2026-06-05
    pricedays on market $141,900 Active 10 DOM
12. 2026-06-03
    days on market $142,900 Active 9 DOM
13. 2026-06-02
    status $142,900 Active 8 DOM
14. 2026-05-14
    listed $142,900 Active 702-char remark
15. 2026-05-05
    historical
16. 2026-04-21
    price $155,400
17. 2026-03-26
    price $158,400
18. 2026-02-24
    listed $159,500 Active
19. 2026-02-19
    historical
20. 2026-01-12
    listed $163,500 Active
21. 2026-01-10
    historical $1,300
22. 2026-01-09
    historical
23. 2025-12-04
    listed $1,300
24. 2025-11-22
    historical $1,300
25. 2025-11-07
    listed $1,300
26. 2023-10-14
    historical $1,250
27. 2023-09-17
    listed $1,250
28. 2022-09-14
    soldstatus $42,000 Closed
29. 2022-08-15
    status Pending
30. 2022-08-13
    price $59,900
31. 2022-07-19
    price $69,995
32. 2022-05-13
    listed $79,950 Active
33. 2005-05-31
    soldstatus $30,000
34. 2005-05-27
    soldstatus $30,100
35. 2005-05-27
    soldstatus $30,100
36. 2005-04-07
    listed $33,500
37. 2005-04-07
    listed $33,500

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $1,163 · $97/mo
• Expected delta: +$189/yr (+$16/mo · 19.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% 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: $15,149
• − Mortgage interest: −$7,943
• − Property taxes: −$974
• − Insurance: −$709
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$4,125
• Taxable loss: −$1,026
• Est. tax savings @ 24.0%: +$246
• After-tax cash flow: $1,607/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: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• 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

+323.3% since first listed

29 events — show timeline

• 2026-06-17 Price Changed $141,800 CVRMLS
• 2026-06-03 Price Changed $141,900 CVRMLS
• 2026-06-03 Price Changed $142,800 CVRMLS
• 2026-06-02 Relisted — CVRMLS
• 2026-05-22 Pending — CVRMLS
• 2026-05-14 Listed $142,900 CVRMLS
• 2026-05-05 Listing Removed — CVRMLS
• 2026-04-21 Price Changed $155,400 CVRMLS
• 2026-03-26 Price Changed $158,400 CVRMLS
• 2026-02-24 Listed $159,500 CVRMLS
• 2026-02-19 Listing Removed — CVRMLS
• 2026-01-12 Listed $163,500 CVRMLS
• 2026-01-10 Rental Removed $1,300 APPFOLIO
• 2026-01-09 Coming Soon — CVRMLS
• 2025-12-04 Listed for Rent $1,300 APPFOLIO
• 2025-11-22 Rental Removed $1,300 APPFOLIO
• 2025-11-07 Listed for Rent $1,300 APPFOLIO
• 2023-10-14 Rental Removed $1,250 PROPERTYWARE
• 2023-09-17 Listed for Rent $1,250 PROPERTYWARE
• 2022-09-14 Sold (MLS) $42,000 CVRMLS
• 2022-08-15 Pending — CVRMLS
• 2022-08-13 Price Changed $59,900 CVRMLS
• 2022-07-19 Price Changed $69,995 CVRMLS
• 2022-05-13 Listed $79,950 CVRMLS
• 2005-05-31 Sold (Public Records) $30,000 Public Records
• 2005-05-27 Sold (MLS) $30,100 CVRMLS
• 2005-05-27 Sold (MLS) $30,100 CVRMLS
• 2005-04-07 Listed $33,500 CVRMLS
• 2005-04-07 Listed $33,500 CVRMLS

Property tax history

+4.1%/yr

Latest (2025): $974 · +69.3% YoY. Source: county tax records.