6507 Balsam Rd · Richmond, VA 23225

$195,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 1 Days on market

Built 1983 7,710 sqft lot Est $254k · 23% 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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 6507 Balsam Road in Worthington Farms. This immaculate move-in ready Ranch has just been completely remodeled and truly looks and feels like a brand new home. Just about everything is newly updated like All new Kitchen cabinets, new countertops, New SS Whirlpool Stove, dishwasher, and microwave have never been used, (Refrigerator to convey "As-Is"), All new carpet & padding, all new Vinyl in kitchen & baths, New bathroom vanities, new toilet, cultured marble tops, new mirrors, 30 yr. Roof replaced in 2010, etc. Freshly Painted Inside and out so you can move in hassle-free! Features Great room, Brand new Eat in Kitchen, Master Bedroom w/ Lighted Walk in closet and attached bath is situated on a flat level lot with private back yard. Note - Listing agent is a principal in Bridgetown Properties, LLC.

Key facts

• 7,710 sq ft lot
• Built 1983

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property; Composition roof
• Construction: Frame construction with hardboard exterior
• Exterior features: R-3 zoning

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom with tub and shower; One half bathroom
• Heating & cooling: Baseboard electric heating; Window air conditioning units
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/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 $189k (3.0% below list).
• Recommended offer: $189k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.2% 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.
• Zoned schools: Miles Jones Elementary (math 17% / reading 32%, grade F, #1,051 of 1,108 statewide, top 96%, 559 students, 99% FRL); River City Middle (math 14% / reading 31%, grade F, #337 of 342 statewide, top 99%, 1,180 students, 98% FRL); Huguenot High (math 37% / reading 57%, grade D-, #305 of 319 statewide, top 97%, 1,551 students, 88% FRL) — zoned schools average 95% FRL vs 74% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 167 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 36% of the median local income ($63k/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 $6k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $120k; list at $195k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $189,097 (3.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $254,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6607 Holliday Rd	0.29mi	3/1.0	1,098 (+4%)	9mo	$264,500	$241	72
6521 Worthington Rd	0.34mi	3/1.5	1,098 (+4%)	8mo	$265,000	$241	69
1709 Whitehead Rd	0.46mi	2/1.0 (-1)	1,064 (+1%)	6mo	$249,950	$235	67
906 Andros Rd	0.39mi	3/1.5	1,098 (+4%)	8mo	$239,700	$218	66
1626 Bolton Rd	0.45mi	3/1.0	1,025 (-3%)	11mo	$207,000	$202	65
6411 Daytona Dr	0.19mi	3/2.0	1,160 (+10%)	9mo	$310,000	$267	63
1106 Kingsport Ln	0.69mi	3/1.0	1,064 (+1%)	5mo	$280,000	$263	62
1001 Whitehead Rd	0.50mi	3/2.0	1,140 (+8%)	8mo	$175,000	$154	53
6401 Binns Ave	0.60mi	3/2.0	1,097 (+4%)	14mo	$195,000	$178	50
613 Holdcroft Dr	0.71mi	3/1.5	1,121 (+6%)	14mo	$270,000	$241	43
1632 Milo Rd	0.63mi	3/1.0	1,196 (+13%)	13mo	$270,000	$226	38
5946 Swanson Rd	0.75mi	3/1.0	925 (-12%)	10mo	$240,000	$259	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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.61×
• Total profit: $-21,187
• Equity at exit: $29,075

10-year hold

• IRR: -5.2%
• Equity multiple: 0.69×
• Total profit: $-16,678
• Equity at exit: $16,860

Cash invested: $54,600 (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 23225

• Rents YoY: 0.6%
• Active inventory: 167
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,891 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$157 /mo · $1,884/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $233

Break-even live

Break-even rent $1,596

Max offer price $195,000

Occupancy floor 83%

Sensitivity live

Price	-10% $343	-5% $288	+0% $233	+5% $178	+10% $123
Rent	-10% $84	-5% $158	+0% $233	+5% $308	+10% $382
Rate	-1.0pp $331	-0.5pp $283	base $233	+0.5pp $182	+1.0pp $131

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6925 Starview Ct Richmond, VA	1.0–2.0	1.5	953	$1,642	$1.72	3d	4	0.32mi
6540 Greenbank Rd Richmond, VA	1.0–3.0	1.0–1.5	887	$1,790	$2.02	3d	59	0.32mi
1501 Ivymount Rd Richmond, VA	3.0	1.5	1084	$1,750	$1.61	45d	1	0.48mi
311 Karl Linn Dr North Chesterfield, VA	1.0–3.0	1.0–3.0	1271	$3,416	$2.69	3d	21	0.77mi
1018 Barlen Dr Richmond, VA	3.0	1.0	935	$1,700	$1.82	45d	1	0.88mi
2336 Sara Ln Richmond, VA	3.0	1.0	1120	$1,695	$1.51	45d	1	1.12mi
101 Springline Dr North Chesterfield, VA	1.0–3.0	1.0–2.0	981	$2,825	$2.88	3d	49	1.15mi
1244 Canterbury Ridge Rd Unit 1 Richmond, VA	3.0	2.5	1250	$2,000	$1.60	6d	1	1.22mi
161 Hioaks Rd Richmond, VA	1.0–3.0	1.0–2.0	983	$1,601	$1.63	6d	7	1.24mi
6839 Carnation St Richmond, VA	1.0–3.0	1.0–2.0	938	$1,915	$2.04	3d	21	1.25mi
5616 Kendall Rd Richmond, VA	3.0	1.0	1054	$1,575	$1.49	23d	1	1.34mi
211 Lingstorm Ln Richmond, VA	1.0–3.0	1.0–2.0	818	$1,960	$2.40	3d	123	1.37mi
2626 Wayside Dr Richmond, VA	3.0	1.5	1250	$1,495	$1.20	45d	1	1.44mi
2626 Wayside Dr Richmond, VA	3.0	1.5	1250	$1,395	$1.12	5d	1	1.44mi
725 Boulder Springs Dr North Chesterfield, VA	1.0–3.0	1.0–2.0	1155	$2,050	$1.77	3d	26	1.44mi

Listing history 8 events

1. 2026-06-02
   statusdays on marketlisting id $195,000 Pending 1 DOM
2. 2026-05-20
   listed $195,000 Active
3. 2017-05-25
   soldstatus $120,000
4. 2017-05-23
   soldstatus $120,000 Closed 841-char remark

   Show marketing remark (841 chars)

   Welcome to 6507 Balsam Road in Worthington Farms. This immaculate move-in ready Ranch has just been completely remodeled and truly looks and feels like a brand new home. Just about everything is newly updated like All new Kitchen cabinets, new countertops, New SS Whirlpool Stove, dishwasher, and microwave have never been used, (Refrigerator to convey "As-Is"), All new carpet & padding, all new Vinyl in kitchen & baths, New bathroom vanities, new toilet, cultured marble tops, new mirrors, 30 yr. Roof replaced in 2010, etc. Freshly Painted Inside and out so you can move in hassle-free! Features Great room, Brand new Eat in Kitchen, Master Bedroom w/ Lighted Walk in closet and attached bath is situated on a flat level lot with private back yard. Note - Listing agent is a principal in Bridgetown Properties, LLC.

5. 2017-04-07
   status Pending 841-char remark

   Show marketing remark (841 chars)

   Welcome to 6507 Balsam Road in Worthington Farms. This immaculate move-in ready Ranch has just been completely remodeled and truly looks and feels like a brand new home. Just about everything is newly updated like All new Kitchen cabinets, new countertops, New SS Whirlpool Stove, dishwasher, and microwave have never been used, (Refrigerator to convey "As-Is"), All new carpet & padding, all new Vinyl in kitchen & baths, New bathroom vanities, new toilet, cultured marble tops, new mirrors, 30 yr. Roof replaced in 2010, etc. Freshly Painted Inside and out so you can move in hassle-free! Features Great room, Brand new Eat in Kitchen, Master Bedroom w/ Lighted Walk in closet and attached bath is situated on a flat level lot with private back yard. Note - Listing agent is a principal in Bridgetown Properties, LLC.

6. 2017-04-04
   listed $115,900 Active 841-char remark

   Show marketing remark (841 chars)

   Welcome to 6507 Balsam Road in Worthington Farms. This immaculate move-in ready Ranch has just been completely remodeled and truly looks and feels like a brand new home. Just about everything is newly updated like All new Kitchen cabinets, new countertops, New SS Whirlpool Stove, dishwasher, and microwave have never been used, (Refrigerator to convey "As-Is"), All new carpet & padding, all new Vinyl in kitchen & baths, New bathroom vanities, new toilet, cultured marble tops, new mirrors, 30 yr. Roof replaced in 2010, etc. Freshly Painted Inside and out so you can move in hassle-free! Features Great room, Brand new Eat in Kitchen, Master Bedroom w/ Lighted Walk in closet and attached bath is situated on a flat level lot with private back yard. Note - Listing agent is a principal in Bridgetown Properties, LLC.

7. 1986-07-18
   soldstatus $48,500
8. 1986-05-27
   soldstatus $44,302

ⓘ 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: $1,884 · $157/mo
• Projected year-2 tax: $1,884 · $157/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 7/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,692
• − Mortgage interest: −$10,923
• − Property taxes: −$1,884
• − Insurance: −$975
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − Depreciation: −$5,673
• Taxable loss: −$394
• Est. tax savings @ 24.0%: +$95
• After-tax cash flow: $2,891/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): 42,771
• Household income: $62,949
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2516.0

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 0.66)
• Race & ethnicity: Black 42% White 38% Hispanic / Latino 14% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 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: ▼ -392.89%
• Current HPI: 339.408
• Rent YoY: ▲ 0.63%
• 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

+340.2% since first listed

7 events — show timeline

• 2026-05-20 Listed $195,000 CVRMLS
• 2017-05-25 Sold (Public Records) $120,000 Public Records
• 2017-05-23 Sold (MLS) $120,000 CVRMLS
• 2017-04-07 Pending — CVRMLS
• 2017-04-04 Listed $115,900 CVRMLS
• 1986-07-18 Sold (Public Records) $48,500 Public Records
• 1986-05-27 Sold (Public Records) $44,302 Public Records

Property tax history

+3.7%/yr

Latest (2022): $1,884 · +30.8% YoY. Source: county tax records.