935 Myrtle Rd · Martinsville, VA 24112

$105,000

2 bd · 1.0 ba · 672 sqft · Other public records · 117 Days on market

Built 1948 0.45 ac lot $156/sqft · 30% above area Est $100k · 5% over

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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 +16.4/30.0
• DSCR +5.1/10.0
• ARV discount +5.1/15.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

iscover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

Key facts

• Spacious backyard
• Beautiful tree line
• Full basement

Tags

• COTTAGE STYLE HOME
• FULL BASEMENT
• SPACIOUS BACKYARD
• BEAUTIFUL TREE LINE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $105k.

Deal economics

• At list price, monthly cash flow is $60 ($726/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 $87k (17.5% below list).
• Recommended offer: $87k (17.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#231 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools B; Watch: amenities F, commute F, employment D-.
• Martinsville City Public School District (town): math 29% / reading 53% proficiency, ranked #122 of 131 in VA (top 93%) — 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.
• Market conditions: 256 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5 units permitted in Martinsville city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Martinsville County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 27y 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 $76k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,653 (17.5% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.47%
• DSCR: 1.11
• GRM: 10.1

CMA / ARV

• ARV (median comp): $99,730
• List price: $105,000
• Delta: 5.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.4%
• Equity multiple: 0.55×
• Total profit: $-13,212
• Equity at exit: $15,656

10-year hold

• IRR: -3.4%
• Equity multiple: 0.77×
• Total profit: $-6,744
• Equity at exit: $9,078

Cash invested: $29,400 (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 24112

• Active inventory: 256
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $867 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $60

Break-even live

Break-even rent $790

Max offer price $105,000

Occupancy floor 88%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
612 Church St E Apt 4 Martinsville, VA	1.0	1.0	750	$800	$1.07	43d	1	1.04mi
509 Monroe St Unit 6 Martinsville, VA	2.0	1.0	655	$875	$1.34	43d	1	1.44mi

Listing history 27 events

1. 2026-04-24
   price $105,000 666-char remark

   Show marketing remark (666 chars)

   iscover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

2. 2026-04-21
   status Active 666-char remark

   Show marketing remark (668 chars)

   Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

3. 2026-04-21
   status Active 668-char remark

   Show marketing remark (668 chars)

   Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

4. 2026-04-12
   status Pending 666-char remark

   Show marketing remark (668 chars)

   Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

5. 2026-04-12
   status Pending 668-char remark

   Show marketing remark (668 chars)

   Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

6. 2026-03-27
   price $105,000 668-char remark

   Show marketing remark (668 chars)

   Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

7. 2026-02-23
   price $107,500 666-char remark

   Show marketing remark (668 chars)

   Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

8. 2026-02-23
   price $107,500 668-char remark

   Show marketing remark (668 chars)

   Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

9. 2026-01-20
   status Active 666-char remark

   Show marketing remark (668 chars)

   Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

10. 2026-01-20
    status Active 668-char remark

    Show marketing remark (668 chars)

    Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

11. 2026-01-10
    status Pending 666-char remark

    Show marketing remark (668 chars)

    Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

12. 2026-01-10
    status Pending 668-char remark

    Show marketing remark (668 chars)

    Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

13. 2026-01-07
    listed $108,000 Active 666-char remark

    Show marketing remark (668 chars)

    Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

14. 2026-01-07
    listed $108,000 Active 668-char remark

    Show marketing remark (668 chars)

    Discover this beautifully updated 2-bedroom, 1-bathroom Cottage style home in Martinsville, ideally situated near shopping and restaurants in a peaceful neighborhood. Bask in the luminous, open interior, with ample windows that flood the space with an abundance of natural sunlight. The full basement provides tons of storage space or workshop possibilities! The spacious backyard provides plenty of room for outdoor activities, gardening, or peaceful relaxation, framed by a beautiful tree line that creates a serene, natural backdrop. Move-in ready, this cozy gem provides comfort and convenience without the urban rush. Perfect for first-time buyers or downsizers!

15. 2024-08-13
    historical
16. 2024-06-09
    price $77,500
17. 2024-06-09
    price $77,500
18. 2024-05-27
    price $79,000
19. 2024-05-27
    price $79,000
20. 2024-05-01
    listed $85,000 Active
21. 2024-05-01
    listed $85,000 Active
22. 2022-06-06
    soldstatus $76,000
23. 2009-08-11
    soldstatus $37,000
24. 2000-12-22
    soldstatus $867,500
25. 2000-02-22
    soldstatus $23,000
26. 2000-02-22
    soldstatus $27,850
27. 1999-03-27
    listed $31,000

ⓘ 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: $356 · $30/mo
• Projected year-2 tax: $861 · $72/mo
• Expected delta: +$505/yr (+$42/mo · 141.6%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $10,398
• − Mortgage interest: −$5,882
• − Property taxes: −$356
• − Insurance: −$525
• − Repairs & maintenance: −$832
• − Management: −$832
• − Depreciation: −$3,055
• Taxable loss: −$1,083
• Est. tax savings @ 24.0%: +$260
• After-tax cash flow: $986/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: Martinsville City Public School District
• NCES district ID: 5102400
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 53% ▼ -14.00%
• Median HH income: $31,215
• Composite: 33.43/100
• National rank: #5467
• State rank: #122 of 131 in VA

Livability — Martinsville

• Score: 70/100
• State rank: #231
• US rank: #7826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinsville, VA
• County: Martinsville City · 31,028 people
• City population: 31,028
• Metro: Martinsville, VA
• Population (ZIP): 31,028
• Household income: $48,770
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 888.0

Population outlook (Martinsville County) Hauer SSP2

• Today (2025): 13,026 people
• By 2030: 12,673 · -2.7%
• By 2040: 11,933 · -8.4%
• By 2050: 11,136 · -14.5%
• By 2075: 9,886 · -24.1%
• By 2100: 8,334 · -36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Martinsville

• 2024 margin: Strong D (+22.6) · D 60.7% · R 38.1% · Other 1.2%
• 2008→2024 swing: -5.4pp toward R · 2008: 28.0pp · 2024: 22.6pp
• All cycles: 2024: D+22.6 2020: D+26.6 2016: D+23.5 2012: D+24.6 2008: D+28.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.37%
• Current HPI: 172.4393
• Rent YoY: —
• Metro: Martinsville, 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

+238.7% since first listed

27 events — show timeline

• 2026-04-24 Price Changed $105,000 MHPCAR
• 2026-04-21 Relisted — MHPCAR
• 2026-04-21 Relisted — MLSRV
• 2026-04-12 Pending — MHPCAR
• 2026-04-12 Pending — MLSRV
• 2026-03-27 Price Changed $105,000 MLSRV
• 2026-02-23 Price Changed $107,500 MHPCAR
• 2026-02-23 Price Changed $107,500 MLSRV
• 2026-01-20 Relisted — MHPCAR
• 2026-01-20 Relisted — MLSRV
• 2026-01-10 Pending — MHPCAR
• 2026-01-10 Pending — MLSRV
• 2026-01-07 Listed $108,000 MLSRV
• 2026-01-07 Listed $108,000 MHPCAR
• 2024-08-13 Listing Removed — MLSRV
• 2024-06-09 Price Changed $77,500 MHPCAR
• 2024-06-09 Price Changed $77,500 MLSRV
• 2024-05-27 Price Changed $79,000 MHPCAR
• 2024-05-27 Price Changed $79,000 MLSRV
• 2024-05-01 Listed $85,000 MHPCAR
• 2024-05-01 Listed $85,000 MLSRV
• 2022-06-06 Sold (Public Records) $76,000 Public Records
• 2009-08-11 Sold (Public Records) $37,000 Public Records
• 2000-12-22 Sold (Public Records) $867,500 Public Records
• 2000-02-22 Sold (Public Records) $27,850 Public Records
• 2000-02-22 Sold (MLS) $23,000 MHPCAR
• 1999-03-27 Listed $31,000 MHPCAR

Property tax history

-0.3%/yr

Latest (2025): $356 · -5.5% YoY. Source: county tax records.