3 Watts St Ext St · Gretna, VA 24557

$114,900

3 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 126 Days on market

Built 1918 0.27 ac lot $105/sqft · 35% below area Est $177k · 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
• 1% rule +6.3/10.0
• Appreciation +6.0/10.0
• Schools +6.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +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.

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 5.5% 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.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 72 units permitted in Pittsylvania County in 2024 (0 in 5+ unit buildings).

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 126 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 126 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): $177,167
• List price: $114,900
• Delta: -35.15%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 5 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%)	4mo	$217,500	$204	69
210 Center St	0.18mi	2/1.0 (-1)	1,019 (-7%)	22mo	$157,000	$154	57
105 Leftwich St St	0.41mi	2/1.5 (-1)	1,200 (+10%)	3mo	$125,000	$104	56
313 Payne St	0.39mi	3/1.0	960 (-12%)	22mo	$170,693	$178	43
208 Washington St	0.30mi	2/1.5 (-1)	950 (-13%)	23mo	$179,900	$189	38

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 →

ZIP-level market 24557

• Home prices YoY: 1.2%
• Active inventory: 81
• 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%

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
• 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	43d	1	0.62mi

Listing history 27 events

1. 2026-06-19
   days on market $114,900 Active 126 DOM
2. 2026-06-18
   days on market $114,900 Active 125 DOM
3. 2026-06-17
   days on market $114,900 Active 124 DOM
4. 2026-06-16
   days on market $114,900 Active 123 DOM
5. 2026-06-15
   days on market $114,900 Active 122 DOM
6. 2026-06-14
   days on market $114,900 Active 120 DOM
7. 2026-06-13
   days on market $114,900 Active 119 DOM
8. 2026-06-10
   days on market $114,900 Active 117 DOM
9. 2026-06-09
   days on market $114,900 Active 116 DOM
10. 2026-06-08
    days on market $114,900 Active 115 DOM
11. 2026-06-07
    days on market $114,900 Active 114 DOM
12. 2026-06-03
    days on market $114,900 Active 110 DOM
13. 2026-06-02
    days on market $114,900 Active 109 DOM
14. 2026-06-01
    days on market $114,900 Active 108 DOM
15. 2026-05-31
    days on market $114,900 Active 107 DOM
16. 2026-05-30
    days on market $114,900 Active 106 DOM
17. 2026-05-07
    price $114,900 711-char remark

    Show marketing remark (711 chars)

    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!

18. 2026-04-03
    price $124,900 711-char remark

    Show marketing remark (711 chars)

    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!

19. 2026-03-11
    price $129,900 711-char remark

    Show marketing remark (711 chars)

    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!

20. 2026-02-13
    listed $134,900 Active 711-char remark

    Show marketing remark (711 chars)

    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!

21. 2025-10-11
    listed $142,500 Active
22. 2022-12-09
    soldstatus $25,000
23. 2022-12-09
    soldstatus $25,000 Closed
24. 2022-11-20
    status Pending
25. 2022-10-26
    listed $40,000
26. 2022-10-26
    listed $40,000 Active
27. 2022-07-28
    soldstatus $19,975

ⓘ 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.

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

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
• Population (ZIP): 7,832

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%

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%

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

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.