237 Midland Cir · Bristol, VA 24201

$75,000

1 bd · 1.0 ba · 658 sqft · SingleFamily public records · 48 Days on market

Built 1901 $114/sqft · 48% below area Est $143k · 48% under

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Why this score? — see what drove the B- 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +5.7/10.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * Motivated seller * * * Welcome home to this charming 2 bedroom 1 bath cottage , remodeled and restored in 2007. Whether you are looking for a starter home, rental property or your next investment opportunity, this home offers great potential. Recent improvements include a newer HVAC system (Approximately 3years old) New roof and gutters replaced in February 2025 and recently updated plumbing with newer piping. Schedule your showing today. Part or all of the information in this listing may have been obtained from a 3rd party and/or tax records and must be verified before assuming accurate. Buyer(s) must verify all information.

Key facts

• New roof
• Newer hvac system
• Updated plumbing

Tags

• NEWER HVAC SYSTEM
• NEW ROOF
• UPDATED PLUMBING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($801 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.9% in Bristol — 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 74/100 on livability (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bristol City Public School District (urban): math 57% / reading 70% proficiency, ranked #53 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 156 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 15 units permitted in Bristol city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Bristol County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $63k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.51%
• DSCR: 1.47
• GRM: 7.8

CMA / ARV

• ARV (median comp): $142,923
• List price: $75,000
• Delta: -47.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
751 Park St	0.37mi	2/1.0 (+1)	672 (+2%)	2mo	$148,000	$220	73
250 Crescent Dr	0.53mi	2/1.0 (+1)	672 (+2%)	5mo	$110,000	$164	62
624 Maple St	0.62mi	2/1.0 (+1)	728 (+11%)	1mo	$40,000	$55	48
1317 Newton St	0.64mi	2/1.0 (+1)	720 (+9%)	10mo	$160,500	$223	41

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-475
• Equity at exit: $11,183

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $14,541
• Equity at exit: $6,485

Cash invested: $21,000 (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 24201

• Active inventory: 156
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $801 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$25 /mo · $296/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $184

Break-even live

Break-even rent $569

Max offer price $75,000

Occupancy floor 72%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
361 Heathland Dr Unit 365 Bristol, VA	1.0	1.0	550	$750	$1.36	43d	1	0.94mi
123 Lilly St Unit 1/2 Bristol, TN	1.0	1.0	480	$895	$1.86	13d	1	1.49mi

Listing history 13 events

1. 2026-06-18
   status $75,000 Pending 48 DOM
2. 2026-06-18
   days on market $75,000 Active 48 DOM
3. 2026-06-17
   days on market $75,000 Active 47 DOM
4. 2026-06-16
   days on market $75,000 Active 46 DOM
5. 2026-06-15
   pricedays on market $75,000 Active 45 DOM
6. 2026-06-03
   days on market $122,000 Active 43 DOM
7. 2026-06-02
   days on market $122,000 Active 42 DOM
8. 2026-06-01
   days on market $122,000 Active 41 DOM
9. 2026-05-31
   days on market $122,000 Active 40 DOM
10. 2026-05-30
    days on market $122,000 Active 39 DOM
11. 2026-05-04
    price $122,000 641-char remark

    Show marketing remark (641 chars)

    * * Motivated seller * * * Welcome home to this charming 2 bedroom 1 bath cottage , remodeled and restored in 2007. Whether you are looking for a starter home, rental property or your next investment opportunity, this home offers great potential. Recent improvements include a newer HVAC system (Approximately 3years old) New roof and gutters replaced in February 2025 and recently updated plumbing with newer piping. Schedule your showing today. Part or all of the information in this listing may have been obtained from a 3rd party and/or tax records and must be verified before assuming accurate. Buyer(s) must verify all information.

12. 2026-04-21
    listed $128,000 Active 641-char remark

    Show marketing remark (641 chars)

    * * Motivated seller * * * Welcome home to this charming 2 bedroom 1 bath cottage , remodeled and restored in 2007. Whether you are looking for a starter home, rental property or your next investment opportunity, this home offers great potential. Recent improvements include a newer HVAC system (Approximately 3years old) New roof and gutters replaced in February 2025 and recently updated plumbing with newer piping. Schedule your showing today. Part or all of the information in this listing may have been obtained from a 3rd party and/or tax records and must be verified before assuming accurate. Buyer(s) must verify all information.

13. 2008-02-29
    soldstatus $63,000

ⓘ 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: $296 · $25/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$319/yr (+$27/mo · 107.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,616
• − Mortgage interest: −$4,201
• − Property taxes: −$296
• − Insurance: −$375
• − Repairs & maintenance: −$769
• − Management: −$769
• − Depreciation: −$2,182
• Taxable income: $1,024
• Est. tax owed @ 24.0%: −$246
• After-tax cash flow: $1,960/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: Bristol City Public School District
• NCES district ID: 5100450
• Math proficiency: 57% ▼ -24.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $33,978
• Composite: 52.4/100
• National rank: #1579
• State rank: #53 of 131 in VA

Livability — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, VA
• City population: 16,039
• Population (ZIP): 16,039

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 16,113 people
• By 2030: 15,510 · -3.7%
• By 2040: 14,121 · -12.4%
• By 2050: 12,847 · -20.3%
• By 2075: 9,870 · -38.7%
• By 2100: 7,883 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Serbian 1% Iranian 0%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Bristol

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -13.6pp toward R · 2008: -26.0pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+38.9 2016: R+43.8 2012: R+31.1 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.40%
• Current HPI: 196.2099
• 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

+93.7% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $122,000 TVRMLS
• 2026-04-21 Listed $128,000 TVRMLS
• 2008-02-29 Sold (Public Records) $63,000 Public Records