2478 Richmond Hwy · Amherst, VA 24553

$109,999

2 bd · 2.0 ba · 980 sqft · Other · 3 Days on market

Built 1992 2.89 ac 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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Appreciation +7.0/10.0
• 1% rule +5.7/10.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover the perfect blend of country living, investment potential, and future opportunity at 2478 Richmond Highway. Situated on a spacious parcel featuring open land, mature hardwoods, a year-round creek, this property offers room to spread out and endless possibilities for the next owner. The home is positioned on a large, mostly open homesite surrounded by nature, providing privacy and a peaceful setting while still offering convenient access to surrounding communities. Whether you're looking for an affordable primary residence, rental property, weekend retreat, or investment opportunity, this property checks all the boxes. What truly sets this property apart is its potential for future

Key facts

• Mature hardwoods
• Generous acreage
• Year round creek

Tags

• MATURE HARDWOODS
• YEAR ROUND CREEK
• LARGE MOSTLY OPEN HOMESITE
• GENEROUS ACREAGE
• ADDITIONAL BUILDING SITES

Property features AI

Finance

• Financial info: $175 annual tax (listed)

Exterior

• Parking: Circular driveway; Off-street parking
• Utilities: Well water; Septic tank; Underground utilities
• Home design: Single-family residence; 1 story
• Construction: Vinyl siding; Metal roof; Built on crawl space
• Exterior features: Front porch

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump
• Interior features: Electric water heater; Crawl space
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.2% vs local median 3.5% in Amherst — 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 77/100 on livability (#90 in VA, #2,933 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Amherst County Public School District (rural): math 40% / reading 64% proficiency, ranked #94 of 131 in VA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Amherst Elementary (math 57% / reading 77%, grade B+, #381 of 1,108 statewide, top 36%, 260 students, 78% FRL); Amherst Middle (math 30% / reading 66%, grade C-, #247 of 342 statewide, top 74%, 347 students, 77% FRL); Amherst County High (math 57% / reading 81%, grade B, #170 of 319 statewide, top 55%, 1,260 students, 75% FRL) — zoned schools average 77% FRL vs 42% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 active listings in the ZIP; 228 units permitted in Amherst County in 2024 (108 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($760 loan paydown + $4k appreciation (4.0% local appreciation)).
• Amherst County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $109,999

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 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?
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: 1.07% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.75%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 1.99×
• Total profit: $30,441
• Equity at exit: $55,993

10-year hold

• IRR: 17.2%
• Equity multiple: 3.78×
• Total profit: $85,691
• Equity at exit: $91,758

Cash invested: $30,800 (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 24553

• Home prices YoY: 2.3%
• Active inventory: 32
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,182 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$137 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $173

Break-even live

Break-even rent $962

Max offer price $109,999

Occupancy floor 80%

Sensitivity live

Price	-10% $249	-5% $211	+0% $173	+5% $135	+10% $97
Rent	-10% $80	-5% $127	+0% $173	+5% $220	+10% $267
Rate	-1.0pp $229	-0.5pp $201	base $173	+0.5pp $145	+1.0pp $116

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $109,999 Active 3 DOM
2. 2026-06-18
   days on market $109,999 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $109,999 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,178
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$3,200
• Taxable income: $348
• Est. tax owed @ 24.0%: −$84
• After-tax cash flow: $1,995/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: Amherst County Public School District
• NCES district ID: 5100210
• Math proficiency: 40% ▼ -42.00%
• Reading proficiency: 64% ▼ -14.00%
• Median HH income: $45,945
• Composite: 43.96/100
• National rank: #2900
• State rank: #94 of 131 in VA

Livability — Amherst

• Score: 77/100
• State rank: #90
• US rank: #2933

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,553

Population outlook (Amherst County) Hauer SSP2

• Today (2025): 29,790 people
• By 2030: 28,332 · -4.9%
• By 2040: 24,963 · -16.2%
• By 2050: 21,468 · -27.9%
• By 2075: 14,111 · -52.6%
• By 2100: 9,344 · -68.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 8% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 5% Lithuanian 4% Serbian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Amherst

• 2024 margin: Solid R (+36.5) · D 31.4% · R 67.9%
• 2008→2024 swing: -20.3pp toward R · 2008: -16.2pp · 2024: -36.5pp
• All cycles: 2024: R+36.5 2020: R+31.6 2016: R+30.7 2012: R+19.9 2008: R+16.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.03%
• Current HPI: 181.5455
• 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

1 event — show timeline

• 2026-06-16 Listed $109,999 LMLS

Property tax history

-2.8%/yr

Latest (2021): $112 · +0.0% YoY. Source: county tax records.