3 Watts St Ext St · Gretna, VA 24557

$114,900

3 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 176 Days on market

Built 1918 Good condition 0.27 ac lot $105/sqft · 35% below area Est $176k · 35% 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 +24.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• Schools +6.6/10.0
• 1% rule +6.3/10.0
• Appreciation +6.0/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Step inside this beautifully remodeled 3-bedroom, 1-bath home that's full of charm and modern updates. Nearly everything is new from the windows and vinyl siding to the sleek LVP floors throughout. Enjoy a stylish new kitchen featuring all-new cabinets, countertops, and fixtures, along with updated lighting and finishes in every room. Energy-efficient mini splits provide comfortable heating and cooling year-round. Outside, you'll find a cute backyard and plenty of off-street parking in the driveway. The town is also installing a brand-new park nearby, adding even more value to this convenient location. With its fresh updates and inviting feel, this move-in-ready home is ready to welcome its new owner!

Key facts

• New kitchen
• Vinyl siding
• Off-street parking

Tags

• REMODELED HOME
• NEW WINDOWS
• VINYL SIDING
• NEW KITCHEN
• OFF-STREET PARKING
• NEW PARK NEARBY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.8% in Gretna — 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 (#157 in VA, #4,927 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Pittsylvania County Public School District (rural): math 65% / reading 78% proficiency, ranked #22 of 131 in VA (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Gretna Elementary (math 72% / reading 80%, grade A, #202 of 1,108 statewide, top 19%, 460 students, 83% FRL); Gretna Middle (math 47% / reading 72%, grade B, #160 of 342 statewide, top 48%, 397 students, 81% FRL); Gretna High (math 57% / reading 67%, grade B-, #231 of 319 statewide, top 75%, 535 students, 80% FRL) — zoned schools average 81% FRL vs 47% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 107 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 72 units permitted in Pittsylvania County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($794 loan paydown + $2k appreciation (1.9% local appreciation)).
• Pittsylvania County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $115k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — 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. 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: 1.13% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.69%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

• ARV (median comp): $175,695
• List price: $114,900
• Delta: -34.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 Henry St	0.30mi	2/2.0 (-1)	1,064 (-3%)	6mo	$217,500	$204	67
210 Center St	0.18mi	2/1.0 (-1)	1,019 (-7%)	24mo	$157,000	$154	55
105 Leftwich St St	0.41mi	2/1.5 (-1)	1,200 (+10%)	4mo	$125,000	$104	54
202 Dalton St	0.39mi	2/1.0 (-1)	1,272 (+16%)	8mo	$147,000	$116	45
402 Leftwich St	0.41mi	2/1.0 (-1)	1,295 (+18%)	8mo	$91,000	$70	44
1100 N Music St	0.99mi	3/1.0	1,222 (+12%)	5mo	$178,000	$146	42
313 Payne St	0.39mi	3/1.0	960 (-12%)	24mo	$170,693	$178	42
117 Hollyberry Dr	0.66mi	2/1.0 (-1)	912 (-17%)	5mo	$165,000	$181	35
105 Highland Rd	0.78mi	3/1.5	1,300 (+19%)	13mo	$233,500	$180	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.9%
• Equity multiple: 1.69×
• Total profit: $22,240
• Equity at exit: $44,794

10-year hold

• IRR: 15.7%
• Equity multiple: 3.08×
• Total profit: $66,827
• Equity at exit: $64,103

Cash invested: $32,172 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 1 under contract
• Months of supply: 4.5 mo (22%/mo absorbed)
• Median asking: $152,500 ($124/sqft)
• Median days on market: 118 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +29.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 24557

• Home prices YoY: 1.2%
• Active inventory: 107
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $233

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 77%

Sensitivity live

Price	-10% $312	-5% $273	+0% $233	+5% $193	+10% $154
Rent	-10% $130	-5% $182	+0% $233	+5% $284	+10% $336
Rate	-1.0pp $291	-0.5pp $262	base $233	+0.5pp $203	+1.0pp $173

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: $28,725
• Closing costs: $3,447
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
192 Peoples Supply Rd Gretna, VA	3.0	1.0	1370	$1,300	$0.95	93d	1	0.62mi

Listing history 50 events

1. 2026-08-08
   days on market $114,900 Active 176 DOM
2. 2026-08-07
   days on market $114,900 Active 175 DOM
3. 2026-08-06
   days on market $114,900 Active 174 DOM
4. 2026-08-05
   days on market $114,900 Active 173 DOM
5. 2026-08-04
   days on market $114,900 Active 172 DOM
6. 2026-08-03
   days on market $114,900 Active 171 DOM
7. 2026-07-31
   days on market $114,900 Active 168 DOM
8. 2026-07-30
   days on market $114,900 Active 167 DOM
9. 2026-07-29
   days on market $114,900 Active 166 DOM
10. 2026-07-27
    days on market $114,900 Active 164 DOM
11. 2026-07-25
    days on market $114,900 Active 162 DOM
12. 2026-07-24
    days on market $114,900 Active 161 DOM
13. 2026-07-23
    days on market $114,900 Active 160 DOM
14. 2026-07-22
    days on market $114,900 Active 159 DOM
15. 2026-07-21
    days on market $114,900 Active 158 DOM
16. 2026-07-18
    days on market $114,900 Active 155 DOM
17. 2026-07-16
    days on market $114,900 Active 153 DOM
18. 2026-07-16
    days on market $114,900 Active 152 DOM
19. 2026-07-14
    days on market $114,900 Active 151 DOM
20. 2026-07-13
    days on market $114,900 Active 150 DOM
21. 2026-07-12
    days on market $114,900 Active 149 DOM
22. 2026-07-11
    days on market $114,900 Active 148 DOM
23. 2026-07-10
    days on market $114,900 Active 147 DOM
24. 2026-07-09
    days on market $114,900 Active 146 DOM
25. 2026-07-08
    days on market $114,900 Active 145 DOM
26. 2026-07-07
    days on market $114,900 Active 144 DOM
27. 2026-07-06
    days on market $114,900 Active 143 DOM
28. 2026-07-05
    days on market $114,900 Active 142 DOM
29. 2026-07-04
    days on market $114,900 Active 141 DOM
30. 2026-07-03
    days on market $114,900 Active 140 DOM
31. 2026-07-02
    days on market $114,900 Active 139 DOM
32. 2026-07-01
    days on market $114,900 Active 138 DOM
33. 2026-06-30
    days on market $114,900 Active 137 DOM
34. 2026-06-29
    days on market $114,900 Active 136 DOM
35. 2026-06-28
    days on market $114,900 Active 135 DOM
36. 2026-06-28
    days on market $114,900 Active 134 DOM
37. 2026-06-27
    days on market $114,900 Active 133 DOM
38. 2026-06-26
    days on market $114,900 Active 132 DOM
39. 2026-06-22
    days on market $114,900 Active 129 DOM
40. 2026-06-21
    days on market $114,900 Active 128 DOM
41. 2026-06-19
    days on market $114,900 Active 126 DOM
42. 2026-06-18
    days on market $114,900 Active 125 DOM
43. 2026-06-17
    days on market $114,900 Active 124 DOM
44. 2026-06-16
    days on market $114,900 Active 123 DOM
45. 2026-06-15
    days on market $114,900 Active 122 DOM
46. 2026-06-14
    days on market $114,900 Active 120 DOM
47. 2026-06-13
    days on market $114,900 Active 119 DOM
48. 2026-06-10
    days on market $114,900 Active 117 DOM
49. 2026-06-09
    days on market $114,900 Active 116 DOM
50. 2026-06-08
    days on market $114,900 Active 115 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: $15,600
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$3,343
• Taxable income: $1,027
• Est. tax owed @ 24.0%: −$247
• After-tax cash flow: $2,549/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.

Condition & rehab AI · 10 photos

Good 80/100 Cosmetic rehab Est. rehab $5,480–$16,440 screening

This move-in-ready home features modern updates throughout, including new cabinets, flooring, and HVAC, making it an attractive option for both resale and rental.

Components & finishes AI

Roof metal · good Flooring laminate

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value ↑
• Both HVAC system — improves comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 66/100

Zoned Schools

Elementary Gretna Elementary A VA #202/1,108 Nat'l #1,966/41,679 Middle Gretna Middle B VA #160/342 Nat'l #1,836/14,009 High Gretna High B- VA #231/319 Nat'l #3,220/17,239

Schools (NCES district)

• District: Pittsylvania County Public School District
• NCES district ID: 5102940
• Math proficiency: 65% ▼ -22.00%
• Reading proficiency: 78% ▼ -4.00%
• Median HH income: $41,672
• Composite: 59.77/100
• National rank: #900
• State rank: #22 of 131 in VA

B Composite livability gradescore 74/100

Livability — Gretna

• Score: 74/100
• State rank: #157
• US rank: #4927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gretna, VA
• County: Pittsylvania · 58,725 people
• Population (ZIP): 7,832
• Household income: $44,948
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 4% of renters

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Population outlook (Pittsylvania County) Hauer SSP2

• Today (2025): 58,725 people
• By 2030: 56,388 · -4.0%
• By 2040: 51,088 · -13.0%
• By 2050: 45,875 · -21.9%
• By 2075: 36,555 · -37.8%
• By 2100: 28,288 · -51.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 20% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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Political lean MEDSL · Pittsylvania

• 2024 margin: Solid R (+43.1) · D 28.1% · R 71.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -24.0pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+39.8 2016: R+39.6 2012: R+27.5 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.91%
• Current HPI: 160.7742
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

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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

+475.2% since first listed

11 events — show timeline

• 2026-05-07 Price Changed $114,900 LMLS
• 2026-04-03 Price Changed $124,900 LMLS
• 2026-03-11 Price Changed $129,900 LMLS
• 2026-02-13 Listed $134,900 LMLS
• 2025-10-11 Listed $142,500 LMLS
• 2022-12-09 Sold (MLS) $25,000 LMLS
• 2022-12-09 Sold (MLS) $25,000 DRRAR
• 2022-11-20 Pending — LMLS
• 2022-10-26 Listed $40,000 LMLS
• 2022-10-26 Listed $40,000 DRRAR
• 2022-07-28 Sold (Public Records) $19,975 Public Records

Property tax history

-3.8%/yr

Latest (2025): $32 · +0.0% YoY. Source: county tax records.