761 King St · Charlottesville, VA 22903

$469,900

3 bd · 2.0 ba · 1,518 sqft · MultiFamily public records · 92 Days on market

Built 1920 8,276 sqft lot

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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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +4.4/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Two story home within walking idstance of the health campus at the University of Virginia. This home has been divided into two apartments. Apartment 1 enters on the first floor and features 2 bedrooms, 1 bath, eat-in kitchen, large living room and use of the front porch. Apartment 2 enters on the right side and is considered a basement apartment. The basement apartment features 1 bedroom, 1 bath, a large living room and an eat-in kitchen. Both units are in average condition but need to have some upgrades before this property will qualify for most loans. The seller is looking for a cash strong purchaser for this property. The property is being offered As-Is/Where-Is with special warranty deed. The property and the terms of its sale is now un

Key facts

• Gas cooktop
• Thoughtful updates
• Functional layout

Tags

• HIGHLY DESIRABLE AREA
• STRONG RENTAL POTENTIAL
• FUNCTIONAL LAYOUT
• THOUGHTFUL UPDATES
• STAINLESS STEEL APPLIANCES
• GAS COOKTOP

Property features AI

Finance

• Financial info: Owner pays gas, sewer, trash collection, and water; Two total units

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex (multi-family property)
• Construction: Block foundation
• Exterior features: Public road frontage; Cable available

Interior

• Kitchen: Kitchen appliances include dishwasher, microwave, refrigerator
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central air and window unit(s) for cooling; Baseboard and forced air heating
• Interior features: Dishwasher; Microwave; Refrigerator

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $470k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive. Per door: $226/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $436k (7.2% below list).
• Recommended offer: $428k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.9% in Charlottesville — 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 (#27 in VA, #707 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living D, crime D-.
• Charlottesville Cty Public School District (urban): math 42% / reading 61% proficiency, ranked #97 of 131 in VA (top 74%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Charlottesville High (math 53% / reading 84%, grade B, #178 of 319 statewide, top 56%, 1,359 students, 72% FRL) — zoned schools average 72% FRL vs 50% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 68% at this address vs 52% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Charlottesville Cty Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.5%/yr); 221 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 34 units permitted in Charlottesville city in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Charlottesville County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($428k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 18y ago; this cycle's ask is 27541% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $99k; list at $470k implies a 376% 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: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $427,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.69×
• Total profit: $-40,814
• Equity at exit: $70,064

10-year hold

• IRR: 2.9%
• Equity multiple: 1.22×
• Total profit: $29,219
• Equity at exit: $40,628

Cash invested: $131,572 (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 22903

• Rents YoY: 4.5%
• Active inventory: 221
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $4,360 high
• Mortgage (P&I): −$2,464
• Tax from tax record: −$332 /mo · $3,989/yr
• Insurance: −$196
• HOA: −$0
• Vacancy / Maint / Mgmt: −$916
• Net cashflow: $452

Break-even live

Break-even rent $3,788

Max offer price $469,900

Occupancy floor 85%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,360
Total (2 units)			$4,360

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: $117,475
• Closing costs: $14,097
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 5th St SW Charlottesville, VA	3.0	1.0	1482	$2,500	$1.69	21d	1	0.28mi
614 Brown St Charlottesville, VA	3.0	2.0	1080	$1,875	$1.74	13d	1	0.32mi
500 Ridge St Unit A Charlottesville, VA	3.0	1.0	1574	$2,100	$1.33	21d	1	0.37mi
301 10 1/2 St NW Charlottesville, VA	3.0	1.5	1632	$2,300	$1.41	21d	1	0.47mi
599 Bailey Rd Charlottesville, VA	3.0	1.5	1200	$2,350	$1.96	13d	1	0.56mi
400 10th St NW Charlottesville, VA	1.0–2.0	1.0–2.0	909	$2,918	$3.21	13d	7	0.57mi
1406 Baker St Unit N/A Charlottesville, VA	2.0	1.0	1100	$2,800	$2.55	21d	1	0.58mi
504 12th St NW Charlottesville, VA	3.0	2.0	1274	$2,850	$2.24	13d	1	0.68mi
503 Rockland Ave Charlottesville, VA	4.0	1.0	1784	$2,000	$1.12	13d	1	0.74mi
1534 Virginia Ave Unit 101 101-C Charlottesville, VA	4.0	3.0	1450	$1,300	$0.90	21d	1	0.77mi
1534 Virginia Ave Unit A Charlottesville, VA	4.0	3.0	1475	$950	$0.64	21d	1	0.77mi
161 Brookwood Dr Charlottesville, VA	3.0	2.5	1550	$2,495	$1.61	21d	1	0.78mi
100 Dalton Ln Charlottesville, VA	1.0–3.0	1.0–3.5	1154	$2,803	$2.43	13d	13	0.81mi
10 University Cir Unit 9 Charlottesville, VA	4.0	1.0	1346	$3,900	$2.90	13d	1	1.01mi
202 Douglas Ave Unit 1F Charlottesville, VA	2.0	2.0	1182	$2,500	$2.12	13d	1	1.10mi
1545 Rugby Ave Charlottesville, VA	2.0	1.0	1097	$2,195	$2.00	21d	1	1.21mi
2525 Woodland Dr Unit A Charlottesville, VA	4.0	2.0	1860	$2,950	$1.59	13d	1	1.25mi
119 Keene Ct Charlottesville, VA	4.0	3.5	2083	$2,995	$1.44	21d	1	1.36mi

Listing history 36 events

1. 2026-06-10
   status $469,900 Pending 92 DOM
2. 2026-06-09
   days on market $469,900 Active 92 DOM
3. 2026-06-08
   days on market $469,900 Active 91 DOM
4. 2026-06-07
   days on market $469,900 Active 90 DOM
5. 2026-06-02
   days on market $469,900 Active 85 DOM
6. 2026-06-01
   days on market $469,900 Active 84 DOM
7. 2026-05-31
   days on market $469,900 Active 83 DOM
8. 2026-05-30
   days on market $469,900 Active 82 DOM
9. 2026-05-18
   historical $1,700
10. 2026-04-29
    listed $1,700
11. 2026-04-28
    historical $1,700
12. 2026-04-16
    listed $1,700
13. 2026-03-09
    listed $469,900 Active
14. 2025-12-19
    historical $2,200
15. 2025-11-18
    listed $2,200
16. 2025-10-31
    historical $2,200
17. 2025-09-30
    listed $2,200
18. 2025-04-26
    historical $2,200
19. 2025-03-25
    listed $2,200
20. 2024-11-24
    historical $2,600
21. 2024-10-23
    listed $2,600
22. 2024-10-11
    historical $2,600
23. 2024-09-10
    listed $2,600
24. 2024-05-08
    historical $2,400
25. 2024-04-12
    listed $2,400
26. 2024-04-10
    historical $2,400
27. 2024-04-07
    historical $2,400
28. 2024-04-07
    listed $2,400
29. 2024-04-07
    listed $2,400
30. 2013-04-30
    soldstatus $98,700
31. 2013-04-29
    soldstatus $103,635 750-char remark

    Show marketing remark (750 chars)

    Two story home within walking idstance of the health campus at the University of Virginia. This home has been divided into two apartments. Apartment 1 enters on the first floor and features 2 bedrooms, 1 bath, eat-in kitchen, large living room and use of the front porch. Apartment 2 enters on the right side and is considered a basement apartment. The basement apartment features 1 bedroom, 1 bath, a large living room and an eat-in kitchen. Both units are in average condition but need to have some upgrades before this property will qualify for most loans. The seller is looking for a cash strong purchaser for this property. The property is being offered As-Is/Where-Is with special warranty deed. The property and the terms of its sale is now un

32. 2012-12-14
    listed $99,900 750-char remark

    Show marketing remark (750 chars)

    Two story home within walking idstance of the health campus at the University of Virginia. This home has been divided into two apartments. Apartment 1 enters on the first floor and features 2 bedrooms, 1 bath, eat-in kitchen, large living room and use of the front porch. Apartment 2 enters on the right side and is considered a basement apartment. The basement apartment features 1 bedroom, 1 bath, a large living room and an eat-in kitchen. Both units are in average condition but need to have some upgrades before this property will qualify for most loans. The seller is looking for a cash strong purchaser for this property. The property is being offered As-Is/Where-Is with special warranty deed. The property and the terms of its sale is now un

33. 2010-01-01
    historical
34. 2008-12-19
    listed $215,000
35. 2004-12-23
    soldstatus $154,250
36. 1997-01-15
    soldstatus $52,000

ⓘ 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: $3,989 · $332/mo
• Projected year-2 tax: $3,989 · $332/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,320
• − Mortgage interest: −$26,322
• − Property taxes: −$3,989
• − Insurance: −$2,350
• − Repairs & maintenance: −$4,186
• − Management: −$4,186
• − Depreciation: −$13,670
• Taxable loss: −$2,381
• Est. tax savings @ 24.0%: +$571
• After-tax cash flow: $5,995/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: Charlottesville Cty Public School District
• NCES district ID: 5100780
• Math proficiency: 42% ▼ -30.00%
• Reading proficiency: 61% ▼ -10.00%
• Median HH income: $47,211
• Composite: 43.68/100
• National rank: #2957
• State rank: #97 of 131 in VA

Livability — Charlottesville

• Score: 84/100
• State rank: #27
• US rank: #707

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlottesville, VA
• County: Albemarle County · 129,350 people
• City population: 120,202
• Metro: Charlottesville, VA
• Population (ZIP): 40,372
• Household income: $69,340
• Rent vs Own: 57.8% rent · 42.2% own
• Severe rent burden: 3060.0

Population outlook (Charlottesville County) Hauer SSP2

• Today (2025): 53,816 people
• By 2030: 57,857 · +7.5%
• By 2040: 63,933 · +18.8%
• By 2050: 69,676 · +29.5%
• By 2075: 77,018 · +43.1%
• By 2100: 82,078 · +52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 15% Asian 9% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 83% English-only · Spanish 4% Other Indo-European 3% Chinese 3%

Political lean MEDSL · Charlottesville

• 2024 margin: Solid D (+68.7) · D 83.4% · R 14.7% · Other 1.9%
• 2008→2024 swing: +10.7pp toward D · 2008: 58.0pp · 2024: 68.7pp
• All cycles: 2024: D+68.7 2020: D+72.7 2016: D+67.1 2012: D+53.4 2008: D+58.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -448.28%
• Current HPI: 306.8503
• Rent YoY: ▲ 4.49%
• Metro: Charlottesville, 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

-96.7% since first listed

28 events — show timeline

• 2026-05-18 Rental Removed $1,700 TURBOTENANT
• 2026-04-29 Listed for Rent $1,700 TURBOTENANT
• 2026-04-28 Rental Removed $1,700 TURBOTENANT
• 2026-04-16 Listed for Rent $1,700 TURBOTENANT
• 2026-03-09 Listed $469,900 HRAR
• 2025-12-19 Rental Removed $2,200 TURBOTENANT
• 2025-11-18 Listed for Rent $2,200 TURBOTENANT
• 2025-10-31 Rental Removed $2,200 TURBOTENANT
• 2025-09-30 Listed for Rent $2,200 TURBOTENANT
• 2025-04-26 Rental Removed $2,200 TURBOTENANT
• 2025-03-25 Listed for Rent $2,200 TURBOTENANT
• 2024-11-24 Rental Removed $2,600 TURBOTENANT
• 2024-10-23 Listed for Rent $2,600 TURBOTENANT
• 2024-10-11 Rental Removed $2,600 TURBOTENANT
• 2024-09-10 Listed for Rent $2,600 TURBOTENANT
• 2024-05-08 Rental Removed $2,400 TURBOTENANT
• 2024-04-12 Listed for Rent $2,400 TURBOTENANT
• 2024-04-10 Rental Removed $2,400 APPFOLIO
• 2024-04-07 Rental Removed $2,400 TURBOTENANT
• 2024-04-07 Listed for Rent $2,400 APPFOLIO
• 2024-04-07 Listed for Rent $2,400 TURBOTENANT
• 2013-04-30 Sold (Public Records) $98,700 Public Records
• 2013-04-29 Sold (MLS) $103,635 HRAR
• 2012-12-14 Listed $99,900 HRAR
• 2010-01-01 Listing Removed — CAAR
• 2008-12-19 Listed $215,000 CAAR
• 2004-12-23 Sold (Public Records) $154,250 Public Records
• 1997-01-15 Sold (Public Records) $52,000 Public Records

Property tax history

+5.0%/yr

Latest (2026): $3,989 · +6.0% YoY. Source: county tax records.