205 Artis St · Franklin, VA 23851

$119,900

3 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 60 Days on market

Built 2009 8,712 sqft lot $83/sqft · 46% below area Est $221k · 46% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home in the heart of Franklin waiting on the finishing touches of remodel. This property is eligible under the Freddie Mac First Look Period until 4/15/26 (midnight) Investor offers will not be considered until after this period expires. Highest and Best offers are to be submitted by 4/29/26 at Noon EST.

Key facts

• 8,712 sq ft lot
• Built 2009
• Listed 60 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.8% in Franklin — 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 59/100 on livability (#461 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Franklin City Public School District (town): math 23% / reading 51% proficiency, ranked #127 of 131 in VA (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $120k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
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: 1.44% ✓
• Cap rate: 11.95%
• Cash-on-cash: 20.20%
• DSCR: 1.90
• GRM: 5.8

CMA / ARV

• ARV (median comp): $221,353
• List price: $119,900
• Delta: -45.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Artis St	0.08mi	3/2.0	1,462 (+2%)	11mo	$219,000	$150	85
416 Cobb St	0.19mi	4/2.0 (+1)	1,433 (-0%)	3mo	$100,000	$70	83
408 Hogart St	0.18mi	4/2.5 (+1)	1,440 (0%)	10mo	$229,999	$160	77
124 Holland Cir	0.20mi	4/2.0 (+1)	1,400 (-3%)	10mo	$227,000	$162	73
200 Delk St	0.24mi	3/2.0	1,300 (-10%)	4mo	$114,900	$88	70
316 S College Dr	0.23mi	3/2.0	1,578 (+10%)	4mo	$80,000	$51	69
107 Britt St	0.07mi	3/2.5	1,655 (+15%)	7mo	$275,000	$166	64
650 Hayden Dr	0.36mi	3/1.0	1,321 (-8%)	2mo	$140,000	$106	64
309 Edwards St	0.74mi	3/1.5	1,360 (-6%)	6mo	$80,000	$59	49
504 Campbell Ave	0.74mi	3/1.5	1,643 (+14%)	1mo	$240,000	$146	39

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: 12.4%
• Equity multiple: 1.49×
• Total profit: $16,583
• Equity at exit: $17,877

10-year hold

• IRR: 21.3%
• Equity multiple: 2.81×
• Total profit: $60,841
• Equity at exit: $10,367

Cash invested: $33,572 (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 23851

• Home prices YoY: -10.2%
• Active inventory: 137
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,732 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$124 /mo · $1,492/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $565

Break-even live

Break-even rent $1,017

Max offer price $119,900

Occupancy floor 62%

Sensitivity live

Price	-10% $633	-5% $599	+0% $565	+5% $531	+10% $497
Rent	-10% $428	-5% $497	+0% $565	+5% $634	+10% $702
Rate	-1.0pp $626	-0.5pp $596	base $565	+0.5pp $534	+1.0pp $503

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Holland Cir Franklin, VA	3.0	1.0	1056	$1,800	$1.70	44d	1	0.17mi
2300 South St Unit 1 Franklin, VA	3.0	1.0	1350	$1,600	$1.19	44d	1	0.42mi

Listing history 7 events

1. 2026-05-19
   status Under Contract 305-char remark

   Show marketing remark (305 chars)

   Home in the heart of Franklin waiting on the finishing touches of remodel. This property is eligible under the Freddie Mac First Look Period until 4/15/26 (midnight) Investor offers will not be considered until after this period expires. Highest and Best offers are to be submitted by 4/29/26 at Noon EST.

2. 2026-05-15
   price $119,900 305-char remark

   Show marketing remark (305 chars)

   Home in the heart of Franklin waiting on the finishing touches of remodel. This property is eligible under the Freddie Mac First Look Period until 4/15/26 (midnight) Investor offers will not be considered until after this period expires. Highest and Best offers are to be submitted by 4/29/26 at Noon EST.

3. 2026-03-19
   listed $124,900 Active 305-char remark

   Show marketing remark (305 chars)

   Home in the heart of Franklin waiting on the finishing touches of remodel. This property is eligible under the Freddie Mac First Look Period until 4/15/26 (midnight) Investor offers will not be considered until after this period expires. Highest and Best offers are to be submitted by 4/29/26 at Noon EST.

4. 2013-04-27
   historical
5. 2012-07-26
   listed $142,500
6. 2008-05-22
   soldstatus $42,400
7. 2000-04-11
   soldstatus $30,000

ⓘ 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: $1,492 · $124/mo
• Projected year-2 tax: $1,492 · $124/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 75% 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: $20,785
• − Mortgage interest: −$6,716
• − Property taxes: −$1,492
• − Insurance: −$600
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − Depreciation: −$3,488
• Taxable income: $5,163
• Est. tax owed @ 24.0%: −$1,239
• After-tax cash flow: $5,544/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: Franklin City Public School District
• NCES district ID: 5101410
• Math proficiency: 23% ▼ -48.00%
• Reading proficiency: 51% ▼ -18.00%
• Median HH income: $35,138
• Composite: 30.47/100
• National rank: #6227
• State rank: #127 of 131 in VA

Livability — Franklin

• Score: 59/100
• State rank: #461
• US rank: #19645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, VA
• Population (ZIP): 13,481

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 7,817 people
• By 2030: 7,480 · -4.3%
• By 2040: 6,803 · -13.0%
• By 2050: 6,124 · -21.7%
• By 2075: 4,484 · -42.6%
• By 2100: 2,967 · -62.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 45% White 44% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: -5.3pp toward R · 2008: 28.1pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+25.6 2016: D+27.1 2012: D+30.7 2008: D+28.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.51%
• Current HPI: 293.564
• 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

+299.7% since first listed

7 events — show timeline

• 2026-05-19 Pending — REINMLS
• 2026-05-15 Price Changed $119,900 REINMLS
• 2026-03-19 Listed $124,900 REINMLS
• 2013-04-27 Listing Removed — CVRMLS
• 2012-07-26 Listed $142,500 CVRMLS
• 2008-05-22 Sold (Public Records) $42,400 Public Records
• 2000-04-11 Sold (Public Records) $30,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,492 · +0.0% YoY. Source: county tax records.