204 Courthouse Rd · Blackstone, VA 23824

$210,000

3 bd · 3.0 ba · 1,824 sqft · SingleFamily · 30 Days on market

Built 1974 Est $281k · 25% 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 +18.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• Schools +3.9/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Solid brick split-level home situated on more than half an acre just outside the town limits. This property offers 3 bedrooms, 3 full baths, a spacious yard, and an attached two-car carport. Existing appliances convey with the sale, and hardwood flooring can be found beneath the carpet. Conveniently located near Fort Pickett and downtown Blackstone. Seller is motivated and prefers an as-is sale. Bring your offers!

Key facts

• Solid brick
• Spacious yard
• Hardwood flooring

Tags

• SOLID BRICK
• SPACIOUS YARD
• HARDWOOD FLOORING
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: No HOA fees indicated

Exterior

• Parking: Carport; Covered parking; Off-street parking; Driveway parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Detached home; Split-level / Tri-level style; Two stories; Two living levels; Basement foundation
• Construction: Brick and vinyl siding; Asphalt shingle roof
• Exterior features: Deck; Wooded view

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom; Bedroom on first floor with full bathroom; Additional bedroom(s)
• Flooring: Carpet; Ceramic; Vinyl; Wood
• Bathrooms: Three full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Ceiling fan; Gas fireplace
• Laundry & utility: Washer and dryer included; Washer and dryer hookups; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/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 $181k (13.7% below list).
• Recommended offer: $181k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.0% in Blackstone — 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 71/100 on livability (#210 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Nottoway County Public School District (rural): math 34% / reading 59% proficiency, ranked #109 of 131 in VA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blackstone Primary (math 37% / reading 52%, grade F, #827 of 1,108 statewide, top 77%, 387 students, 92% FRL); Nottoway High (math 37% / reading 72%, grade C-, #281 of 319 statewide, top 90%, 536 students, 98% FRL) — zoned schools average 96% FRL vs 56% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 58 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 57 units permitted in Nottoway County in 2024 (5 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.
• Nottoway County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 13 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 $140k; list at $210k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 21% 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 $181,239 (13.7% below list)

Questions for the listing agent

1. Built in 1974 — 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. 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.
4. 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.
5. 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: 0.86% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $280,896
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 Broad St	0.19mi	3/1.0	1,792 (-2%)	15mo	$165,000	$92	68
1007 Nottoway Ave	0.57mi	3/2.0	1,816 (-0%)	6mo	$250,000	$138	64
415 Oak St	0.58mi	3/2.5	1,872 (+3%)	15mo	$315,000	$168	54
501 College Ave	0.67mi	3/2.0	1,782 (-2%)	17mo	$275,000	$154	47
205 Brunswick	0.48mi	4/1.5 (+1)	1,972 (+8%)	12mo	$270,000	$137	44
927 E Courthouse Rd	0.73mi	3/2.0	1,660 (-9%)	5mo	$255,000	$154	43
708 S Main St	0.70mi	3/2.5	1,584 (-13%)	8mo	$299,900	$189	36
503 Brunswick Ave	0.68mi	3/2.0	1,650 (-10%)	14mo	$215,000	$130	36
506 Sixth St	0.71mi	3/1.5	1,587 (-13%)	16mo	$268,000	$169	26

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: -10.6%
• Equity multiple: 0.61×
• Total profit: $-22,706
• Equity at exit: $31,312

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-5,455
• Equity at exit: $18,157

Cash invested: $58,800 (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 23824

• Home prices YoY: -9.2%
• Active inventory: 58
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,812 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$64 /mo · $765/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $179

Break-even live

Break-even rent $1,585

Max offer price $210,000

Occupancy floor 85%

Sensitivity live

Price	-10% $298	-5% $239	+0% $179	+5% $120	+10% $60
Rent	-10% $36	-5% $108	+0% $179	+5% $251	+10% $322
Rate	-1.0pp $285	-0.5pp $233	base $179	+0.5pp $125	+1.0pp $69

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
706 College Ave Blackstone, VA	4.0	2.5	2137	$1,950	$0.91	44d	1	0.85mi
328 Virginia Lee Blvd Blackstone, VA	3.0	2.0	1400	$1,650	$1.18	3d	1	0.90mi

Listing history 42 events

1. 2026-06-21
   days on market $210,000 Active 30 DOM
2. 2026-06-18
   days on market $210,000 Active 28 DOM
3. 2026-06-17
   days on market $210,000 Active 27 DOM
4. 2026-06-16
   days on market $210,000 Active 26 DOM
5. 2026-06-15
   days on market $210,000 Active 25 DOM
6. 2026-06-15
   days on market $210,000 Active 24 DOM
7. 2026-06-13
   days on market $210,000 Active 23 DOM
8. 2026-06-12
   days on market $210,000 Active 22 DOM
9. 2026-06-09
   days on market $210,000 Active 19 DOM
10. 2026-06-08
    days on market $210,000 Active 18 DOM
11. 2026-06-08
    days on market $210,000 Active 17 DOM
12. 2026-06-05
    days on market $210,000 Active 15 DOM
13. 2026-06-03
    days on market $210,000 Active 13 DOM
14. 2026-06-02
    days on market $210,000 Active 12 DOM
15. 2026-06-01
    days on market $210,000 Active 11 DOM
16. 2026-05-31
    days on market $210,000 Active 10 DOM
17. 2026-05-21
    listed $210,000 Active
18. 2026-04-08
    historical
19. 2026-03-31
    listed $210,000 Active
20. 2026-01-07
    price $210,000
21. 2025-11-18
    price $225,000
22. 2025-11-18
    status Active
23. 2025-11-18
    status Active
24. 2025-11-18
    price $225,000
25. 2025-11-10
    status Pending
26. 2025-11-10
    historical Active Under Contract
27. 2025-08-08
    listed $235,000 Active
28. 2025-08-08
    listed $235,000 Active
29. 2025-01-07
    price $255,000
30. 2024-10-06
    listed $257,500 Active
31. 2006-06-16
    soldstatus $140,000
32. 2006-06-16
    soldstatus $140,000
33. 2006-04-03
    listed $149,900
34. 2006-04-03
    listed $149,900
35. 2003-12-05
    historical
36. 2003-12-05
    historical
37. 2003-09-15
    listed $139,500
38. 2003-09-15
    listed $139,500
39. 2003-09-01
    historical
40. 2003-09-01
    historical
41. 2003-03-01
    listed $139,500
42. 2003-03-01
    listed $139,500

ⓘ 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: $765 · $64/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$957/yr (+$80/mo · 125.1%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 21% 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: $21,749
• − Mortgage interest: −$11,763
• − Property taxes: −$765
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,740
• − Management: −$1,740
• − Depreciation: −$6,109
• Taxable loss: −$1,419
• Est. tax savings @ 24.0%: +$340
• After-tax cash flow: $2,492/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: Nottoway County Public School District
• NCES district ID: 5102790
• Math proficiency: 34% ▼ -38.00%
• Reading proficiency: 59% ▼ -12.00%
• Median HH income: $38,125
• Composite: 38.65/100
• National rank: #4153
• State rank: #109 of 131 in VA

Livability — Blackstone

• Score: 71/100
• State rank: #210
• US rank: #6666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blackstone, VA
• Population (ZIP): 6,650

Population outlook (Nottoway County) Hauer SSP2

• Today (2025): 15,190 people
• By 2030: 14,867 · -2.1%
• By 2040: 13,993 · -7.9%
• By 2050: 12,924 · -14.9%
• By 2075: 10,416 · -31.4%
• By 2100: 7,281 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 46% Black 43% Two or more races 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Italian 1% Serbian 1% Danish 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Nottoway

• 2024 margin: Strong R (+22.4) · D 38.5% · R 60.8%
• 2008→2024 swing: -21.1pp toward R · 2008: -1.2pp · 2024: -22.4pp
• All cycles: 2024: R+22.4 2020: R+14.9 2016: R+13.1 2012: R+0.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.21%
• Current HPI: 178.7698
• 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

+50.5% since first listed

26 events — show timeline

• 2026-05-21 Listed $210,000 REINMLS
• 2026-04-08 Listing Removed — CVRMLS
• 2026-03-31 Listed $210,000 RVLG
• 2026-01-07 Price Changed $210,000 CVRMLS
• 2025-11-18 Price Changed $225,000 SCAR
• 2025-11-18 Relisted — SCAR
• 2025-11-18 Relisted — CVRMLS
• 2025-11-18 Price Changed $225,000 CVRMLS
• 2025-11-10 Pending — CVRMLS
• 2025-11-10 Contingent — SCAR
• 2025-08-08 Listed $235,000 SCAR
• 2025-08-08 Listed $235,000 CVRMLS
• 2025-01-07 Price Changed $255,000 SCAR
• 2024-10-06 Listed $257,500 SCAR
• 2006-06-16 Sold (MLS) $140,000 CVRMLS
• 2006-06-16 Sold (MLS) $140,000 CVRMLS
• 2006-04-03 Listed $149,900 CVRMLS
• 2006-04-03 Listed $149,900 CVRMLS
• 2003-12-05 Listing Removed — CVRMLS
• 2003-12-05 Listing Removed — CVRMLS
• 2003-09-15 Listed $139,500 CVRMLS
• 2003-09-15 Listed $139,500 CVRMLS
• 2003-09-01 Listing Removed — CVRMLS
• 2003-09-01 Listing Removed — CVRMLS
• 2003-03-01 Listed $139,500 CVRMLS
• 2003-03-01 Listed $139,500 CVRMLS

Property tax history

+3.6%/yr

Latest (2025): $765 · +6.7% YoY. Source: county tax records.