307 Norwood Dr · Danville, VA 24540

$169,900

2 bd · 1.5 ba · 1,560 sqft · SingleFamily public records · 290 Days on market

Built 1954 0.51 ac lot $109/sqft · 6% above area Est $190k · 11% under

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Why this score? — see what drove the D+ 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 +14.5/30.0
• ARV discount +12.2/15.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home in North Danville is located on a large lot. The first floor offers 3 bedrooms (1bedroom could also be a dining room), 1 bathroom, kitchen and an oversized living room. The basement offers a family room, 4th bedroom, 2nd bathroom and a kitchenette. This property has a garage with an enclosed porch over it. The backyard is fenced to accommodate your pets. There is a new roof, some replacement windows and hardwood floors on the first floor. This property would make a nice home with lower-level apartment for an older kid, in-law suite or a nice man-cave/she-shed. There are endless possibilities.

Key facts

• Kitchenette
• Large lot
• Enclosed porch

Tags

• LARGE LOT
• OVERSIZED LIVING ROOM
• KITCHENETTE
• ENCLOSED PORCH
• FENCED BACKYARD
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $39 ($464/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 $133k (21.6% below list).
• Recommended offer: $133k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.3% in Danville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#91 in VA, #2,952 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, crime D-, commute F.
• Danville City Public School District (town): math 30% / reading 44% proficiency, ranked #128 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 211 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 54 units permitted in Danville city in 2024 (40 in 5+ unit buildings).
• This rent runs 33% of the median local income ($48k/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 $5k of value loss. Plan a longer hold.
• Danville County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 290 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $66k; list at $170k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,137 (21.6% below list)

Questions for the listing agent

1. It's been on market 290 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.98%
• DSCR: 1.04
• GRM: 10.6

CMA / ARV

• ARV (median comp): $189,929
• List price: $169,900
• Delta: -10.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 Franklin Tpke	0.58mi	2/1.0	1,560 (0%)	3mo	$164,000	$105	68
356 Norwood Dr	0.13mi	3/1.0 (+1)	1,778 (+14%)	1mo	$230,000	$129	63
154 Orchard Dr	0.71mi	2/2.0	1,550 (-1%)	2mo	$269,000	$174	62
301 Northmont Blvd	0.44mi	3/1.5 (+1)	1,456 (-7%)	8mo	$232,500	$160	57
207 Northmont Blvd	0.35mi	3/1.0 (+1)	1,719 (+10%)	9mo	$190,000	$111	52
212 Westview Dr	0.63mi	2/1.0	1,392 (-11%)	1mo	$135,000	$97	50
427 Granville Dr	0.71mi	3/1.0 (+1)	1,587 (+2%)	9mo	$205,000	$129	50
521 Lansbury Dr	0.53mi	2/1.0	1,405 (-10%)	12mo	$230,000	$164	47
209 Parrish Rd	0.64mi	3/2.0 (+1)	1,731 (+11%)	2mo	$255,000	$147	43
326 Clarkson Dr Dr	0.48mi	3/2.0 (+1)	1,782 (+14%)	5mo	$248,000	$139	42
448 Northmont Blvd	0.61mi	3/2.0 (+1)	1,760 (+13%)	1mo	$190,000	$108	42
216 Swain Dr	0.45mi	3/2.5 (+1)	1,791 (+15%)	7mo	$230,000	$128	40

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-25,145
• Equity at exit: $25,333

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-19,043
• Equity at exit: $14,690

Cash invested: $47,572 (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 24540

• Home prices YoY: -20.0%
• Active inventory: 211
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$51 /mo · $616/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $39

Break-even live

Break-even rent $1,282

Max offer price $169,900

Occupancy floor 92%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
713 Springfield Rd Unit K Danville, VA	3.0	2.0	1200	$1,200	$1.00	43d	1	0.52mi
248 Lakeside Dr Danville, VA	3.0	1.5	1134	$2,200	$1.94	43d	1	1.18mi

Listing history 24 events

1. 2026-06-19
   days on market $169,900 Active 290 DOM
2. 2026-06-18
   days on market $169,900 Active 289 DOM
3. 2026-06-17
   days on market $169,900 Active 288 DOM
4. 2026-06-16
   days on market $169,900 Active 287 DOM
5. 2026-06-15
   days on market $169,900 Active 286 DOM
6. 2026-06-14
   days on market $169,900 Active 284 DOM
7. 2026-06-13
   days on market $169,900 Active 283 DOM
8. 2026-06-10
   days on market $169,900 Active 281 DOM
9. 2026-06-09
   days on market $169,900 Active 280 DOM
10. 2026-06-08
    days on market $169,900 Active 279 DOM
11. 2026-06-07
    days on market $169,900 Active 278 DOM
12. 2026-06-05
    days on market $169,900 Active 275 DOM
13. 2026-06-02
    days on market $169,900 Active 273 DOM
14. 2026-06-01
    days on market $169,900 Active 272 DOM
15. 2026-05-31
    days on market $169,900 Active 271 DOM
16. 2026-05-30
    days on market $169,900 Active 270 DOM
17. 2025-09-02
    listed $169,900 Active 609-char remark

    Show marketing remark (609 chars)

    This home in North Danville is located on a large lot. The first floor offers 3 bedrooms (1bedroom could also be a dining room), 1 bathroom, kitchen and an oversized living room. The basement offers a family room, 4th bedroom, 2nd bathroom and a kitchenette. This property has a garage with an enclosed porch over it. The backyard is fenced to accommodate your pets. There is a new roof, some replacement windows and hardwood floors on the first floor. This property would make a nice home with lower-level apartment for an older kid, in-law suite or a nice man-cave/she-shed. There are endless possibilities.

18. 2021-12-29
    soldstatus $66,500 393-char remark

    Show marketing remark (393 chars)

    Lots of potential with this City of Danville home with 3 bedrooms and 2 baths, formal living room with hardwoods and dining room. Lower level has kitchenette w bedroom and family room w workshop and laundry including washer and dryer Spacious fenced back yard on corner lot with single garage in basement. Large storage area off kitchen! Opportunity for owner occupied or rental investment.

19. 2021-11-17
    listed $75,000 393-char remark

    Show marketing remark (393 chars)

    Lots of potential with this City of Danville home with 3 bedrooms and 2 baths, formal living room with hardwoods and dining room. Lower level has kitchenette w bedroom and family room w workshop and laundry including washer and dryer Spacious fenced back yard on corner lot with single garage in basement. Large storage area off kitchen! Opportunity for owner occupied or rental investment.

20. 2015-04-08
    historical
21. 2014-12-18
    listed $69,000
22. 2013-12-18
    historical
23. 2013-06-18
    listed $79,900
24. 2005-04-07
    soldstatus $73,000

ⓘ 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: $616 · $51/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$777/yr (+$65/mo · 126.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $15,976
• − Mortgage interest: −$9,517
• − Property taxes: −$616
• − Insurance: −$850
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$4,943
• Taxable loss: −$2,505
• Est. tax savings @ 24.0%: +$601
• After-tax cash flow: $1,065/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: Danville City Public School District
• NCES district ID: 5101110
• Math proficiency: 30% ▼ -22.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $31,952
• Composite: 30.23/100
• National rank: #6298
• State rank: #128 of 131 in VA

Livability — Danville

• Score: 77/100
• State rank: #91
• US rank: #2952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, VA
• County: Danville City · 59,055 people
• City population: 59,055
• Metro: Danville, VA
• Population (ZIP): 31,013
• Household income: $47,924
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1170.0

Population outlook (Danville County) Hauer SSP2

• Today (2025): 40,989 people
• By 2030: 40,432 · -1.4%
• By 2040: 39,255 · -4.2%
• By 2050: 38,035 · -7.2%
• By 2075: 35,612 · -13.1%
• By 2100: 30,365 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 50% Black 42% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Danville

• 2024 margin: Strong D (+21.1) · D 60.1% · R 39.0%
• 2008→2024 swing: +1.9pp toward D · 2008: 19.1pp · 2024: 21.1pp
• All cycles: 2024: D+21.1 2020: D+22.1 2016: D+19.9 2012: D+22.1 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.79%
• Current HPI: 235.1746
• Rent YoY: —
• Metro: Danville, 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

+132.7% since first listed

8 events — show timeline

• 2025-09-02 Listed $169,900 DRRAR
• 2021-12-29 Sold (MLS) $66,500 DRRAR
• 2021-11-17 Listed $75,000 DRRAR
• 2015-04-08 Listing Removed — MLSRV
• 2014-12-18 Listed $69,000 MLSRV
• 2013-12-18 Listing Removed — MLSRV
• 2013-06-18 Listed $79,900 MLSRV
• 2005-04-07 Sold (Public Records) $73,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $616 · +0.0% YoY. Source: county tax records.