1315 Wilkerson St · South Boston, VA 24592

$179,900

2 bd · 2.0 ba · 2,302 sqft · SingleFamily public records · 12 Days on market

Built 1938 10,018 sqft lot Est $258k · 30% under

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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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful opportunity to own a newly renovated home. While there are lots of new upgrades to this home, the original charm is still there. The main level features a living room, family room, dining room, kitchen, bedroom and full bathroom. The second level has two bedrooms, full bathroom and a bonus room that can be used as an office or any other purpose you can think of! The front porch is the perfect spot to enjoy the porch swing with a cup of coffee (or wine) and a good book. Out back there is a deck and large level yard. Call today to schedule an appointment to see this charming, renovated home.

Key facts

• Covered front porch
• Renovated home
• Storage shed

Tags

• RENOVATED HOME
• COVERED FRONT PORCH
• LARGE LEVEL BACKYARD
• STORAGE SHED
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Zoning: R-2; Lot about 0.23 acre

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Cable available and connected
• Home design: Single-family residence; Two levels
• Construction: Vinyl siding; Composition roof; Crawl space foundation; Built above grade finished area of 1,938 (square feet)
• Exterior features: Deck; Porch; Storage structure; Has a view

Interior

• Kitchen: Dishwasher; Electric water heater
• Flooring: Tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless heating; Ductless heat pump cooling; Ceiling fan(s)
• Interior features: Ceiling fans; High-speed internet; Gas log fireplace in the living room
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $63 ($761/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 $145k (19.1% below list).
• Recommended offer: $145k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.9% in South Boston — 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 (#147 in VA, #4,742 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Halifax County Public School District (town): math 29% / reading 59% proficiency, ranked #116 of 131 in VA (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Boston Elementary (math 18% / reading 48%, grade F, #986 of 1,108 statewide, top 89%, 666 students, 93% FRL); Halifax County Middle (math 27% / reading 60%, grade D, #285 of 342 statewide, top 84%, 925 students, 92% FRL); Halifax County High (math 40% / reading 69%, grade C-, #281 of 319 statewide, top 90%, 1,397 students, 90% FRL) — zoned schools average 92% FRL vs 58% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 61 active listings in the ZIP; 97 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

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.
• Halifax County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1938 — 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 $145,455 (19.1% below list)

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 0.81% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $257,824
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 South Ave Unit -	0.15mi	3/2.5 (+1)	2,225 (-3%)	7mo	$227,000	$102	75
1329 Hodges St	0.10mi	3/2.5 (+1)	2,086 (-9%)	8mo	$275,000	$132	66
1801 Wilkerson St	0.27mi	3/3.0 (+1)	2,479 (+8%)	14mo	$367,500	$148	54
812 Grove Ave	0.37mi	3/2.0 (+1)	2,125 (-8%)	19mo	$238,000	$112	49
703 Traver Ave	0.49mi	3/1.5 (+1)	2,062 (-10%)	9mo	$195,000	$95	45

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-25,188
• Equity at exit: $26,824

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-17,038
• Equity at exit: $15,554

Cash invested: $50,372 (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 24592

• Home prices YoY: -27.0%
• Active inventory: 61
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$67 /mo · $808/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $63

Break-even live

Break-even rent $1,374

Max offer price $179,900

Occupancy floor 91%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-03
   days on market $179,900 Active 12 DOM
2. 2026-06-02
   days on market $179,900 Active 11 DOM
3. 2026-06-01
   days on market $179,900 Active 10 DOM
4. 2026-05-31
   days on market $179,900 Active 9 DOM
5. 2026-05-22
   listed $179,900 Active
6. 2024-11-19
   price $186,400
7. 2024-10-30
   price $189,900
8. 2024-10-25
   listed $195,900 Active
9. 2023-06-06
   soldstatus $162,500 Closed 606-char remark

   Show marketing remark (606 chars)

   Wonderful opportunity to own a newly renovated home. While there are lots of new upgrades to this home, the original charm is still there. The main level features a living room, family room, dining room, kitchen, bedroom and full bathroom. The second level has two bedrooms, full bathroom and a bonus room that can be used as an office or any other purpose you can think of! The front porch is the perfect spot to enjoy the porch swing with a cup of coffee (or wine) and a good book. Out back there is a deck and large level yard. Call today to schedule an appointment to see this charming, renovated home.

10. 2023-06-06
    soldstatus $162,500

    Show marketing remark (606 chars)

    Wonderful opportunity to own a newly renovated home. While there are lots of new upgrades to this home, the original charm is still there. The main level features a living room, family room, dining room, kitchen, bedroom and full bathroom. The second level has two bedrooms, full bathroom and a bonus room that can be used as an office or any other purpose you can think of! The front porch is the perfect spot to enjoy the porch swing with a cup of coffee (or wine) and a good book. Out back there is a deck and large level yard. Call today to schedule an appointment to see this charming, renovated home.

11. 2023-04-20
    historical Active Under Contract 606-char remark

    Show marketing remark (606 chars)

    Wonderful opportunity to own a newly renovated home. While there are lots of new upgrades to this home, the original charm is still there. The main level features a living room, family room, dining room, kitchen, bedroom and full bathroom. The second level has two bedrooms, full bathroom and a bonus room that can be used as an office or any other purpose you can think of! The front porch is the perfect spot to enjoy the porch swing with a cup of coffee (or wine) and a good book. Out back there is a deck and large level yard. Call today to schedule an appointment to see this charming, renovated home.

12. 2023-04-17
    listed $164,900 Active 606-char remark

    Show marketing remark (606 chars)

    Wonderful opportunity to own a newly renovated home. While there are lots of new upgrades to this home, the original charm is still there. The main level features a living room, family room, dining room, kitchen, bedroom and full bathroom. The second level has two bedrooms, full bathroom and a bonus room that can be used as an office or any other purpose you can think of! The front porch is the perfect spot to enjoy the porch swing with a cup of coffee (or wine) and a good book. Out back there is a deck and large level yard. Call today to schedule an appointment to see this charming, renovated home.

13. 2021-07-26
    soldstatus $27,000
14. 1992-12-28
    soldstatus $35,000

ⓘ 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: $808 · $67/mo
• Projected year-2 tax: $1,475 · $123/mo
• Expected delta: +$667/yr (+$56/mo · 82.6%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $17,455
• − Mortgage interest: −$10,077
• − Property taxes: −$808
• − Insurance: −$900
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$5,233
• Taxable loss: −$2,356
• Est. tax savings @ 24.0%: +$565
• After-tax cash flow: $1,326/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: Halifax County Public School District
• NCES district ID: 5101770
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 59% ▼ -15.00%
• Median HH income: $36,137
• Composite: 36.36/100
• National rank: #4687
• State rank: #116 of 131 in VA

Livability — South Boston

• Score: 74/100
• State rank: #147
• US rank: #4742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Boston, VA
• Population (ZIP): 14,411

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 32,892 people
• By 2030: 31,438 · -4.4%
• By 2040: 28,350 · -13.8%
• By 2050: 25,553 · -22.3%
• By 2075: 20,217 · -38.5%
• By 2100: 14,645 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 40% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Halifax

• 2024 margin: Strong R (+21.1) · D 39.1% · R 60.2%
• 2008→2024 swing: -18.2pp toward R · 2008: -2.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+15.1 2016: R+16.6 2012: R+5.6 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.37%
• Current HPI: 190.3767
• 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

+414.0% since first listed

10 events — show timeline

• 2026-05-22 Listed $179,900 SPLLAR
• 2024-11-19 Price Changed $186,400 SPLLAR
• 2024-10-30 Price Changed $189,900 SPLLAR
• 2024-10-25 Listed $195,900 SPLLAR
• 2023-06-06 Sold (Public Records) $162,500 Public Records
• 2023-06-06 Sold (MLS) $162,500 SPLLAR
• 2023-04-20 Contingent — SPLLAR
• 2023-04-17 Listed $164,900 SPLLAR
• 2021-07-26 Sold (Public Records) $27,000 Public Records
• 1992-12-28 Sold (Public Records) $35,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $808 · +0.0% YoY. Source: county tax records.