304 N College Dr · Franklin, VA 23851

$140,000

2 bd · 2.5 ba · 1,416 sqft · Townhouse public records · 167 Days on market

Built 1990 4,094 sqft lot $99/sqft · 39% below area Est $229k · 39% under $76/mo HOA · 5% of rent

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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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.9/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice townhouse on an end unit in a well-maintained community. 2 primary bedrooms upstairs each with their own full bathroom. Downstairs is a spacious living room with a gas fireplace. Property offers low maintenance outside with front and side yards maintained by the association. A sliding glass door leads to the fenced back yard and storage shed. A playground across the street and convenient to shopping and entertainment. Case#544-362992 IE (Insured Escrow) Subject to Appraisal. Property is Owned by the US Dept. of HUD. Seller makes no representations or warranties as to the property condition. HUD Homes are Sold "AS IS". Equal Housing Opportunity. Seller may contribute up to 3% for buyers closing costs upon buyer request.

Key facts

• Fenced back yard
• End unit
• Gas fireplace

Tags

• END UNIT
• GAS FIREPLACE
• FENCED BACK YARD
• STORAGE SHED
• PLAYGROUND ACROSS THE STREET

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.9% in Franklin — 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 59/100 on livability (#461 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Franklin City Public School District (town): math 23% / reading 51% proficiency, ranked #127 of 131 in VA (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 137 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $79k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $104k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 1.09% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• GRM: 7.7

CMA / ARV

• ARV (median comp): $229,249
• List price: $140,000
• Delta: -38.93%
• 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
102 Summit Path	0.08mi	3/2.5 (+1)	1,442 (+2%)	1mo	$224,990	$156	87
105 Summit View Ln	0.09mi	3/2.5 (+1)	1,442 (+2%)	1mo	$231,020	$160	87
100 Summit Path	0.08mi	3/2.5 (+1)	1,442 (+2%)	3mo	$244,990	$170	86
103 Summit View Ln	0.09mi	3/2.5 (+1)	1,442 (+2%)	2mo	$228,105	$158	86
101 Summit View Ln	0.09mi	3/2.5 (+1)	1,442 (+2%)	5mo	$269,595	$187	84
111 Summit View Ln	0.11mi	3/2.5 (+1)	1,442 (+2%)	4mo	$240,520	$167	84
106 Summit Path	0.08mi	3/2.5 (+1)	1,442 (+2%)	6mo	$222,615	$154	84
228 Summith Path	0.07mi	3/2.5 (+1)	1,442 (+2%)	6mo	$236,105	$164	83
108 Summit Path	0.08mi	3/2.5 (+1)	1,442 (+2%)	6mo	$226,375	$157	83
206 Summit Path	0.08mi	3/2.5 (+1)	1,442 (+2%)	6mo	$232,985	$162	83
204 Summit Path	0.08mi	3/2.5 (+1)	1,442 (+2%)	6mo	$241,255	$167	83
202 Summit Path Ln	0.08mi	3/2.0 (+1)	1,442 (+2%)	6mo	$232,450	$161	82

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-9,973
• Equity at exit: $20,874

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $7,811
• Equity at exit: $12,105

Cash invested: $39,200 (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 23851

• Home prices YoY: -10.2%
• Active inventory: 137
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,522 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$135 /mo · $1,615/yr
• Insurance: −$58
• HOA: −$76
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $199

Break-even live

Break-even rent $1,270

Max offer price $140,000

Occupancy floor 82%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2300 South St Unit 1 Franklin, VA	3.0	1.0	1350	$1,600	$1.19	43d	1	0.96mi
116 Holland Cir Franklin, VA	3.0	1.0	1056	$1,800	$1.70	43d	1	1.08mi
680 Oak St Unit 111 Franklin, VA	1.0	1.0	1252	$1,150	$0.92	1d	1	1.21mi

HOA detail

• Monthly dues: $76 · $912/yr
• Likely covers: gas

Listing history 34 events

1. 2026-06-16
   statusdays on market $140,000 Under Contract 167 DOM
2. 2026-06-15
   days on market $140,000 Active 166 DOM
3. 2026-06-15
   days on market $140,000 Active 165 DOM
4. 2026-06-13
   days on market $140,000 Active 164 DOM
5. 2026-06-12
   days on market $140,000 Active 163 DOM
6. 2026-06-09
   days on market $140,000 Active 160 DOM
7. 2026-06-08
   days on market $140,000 Active 159 DOM
8. 2026-06-08
   days on market $140,000 Active 158 DOM
9. 2026-06-05
   days on market $140,000 Active 156 DOM
10. 2026-06-03
    days on market $140,000 Active 154 DOM
11. 2026-06-02
    days on market $140,000 Active 153 DOM
12. 2026-06-01
    days on market $140,000 Active 152 DOM
13. 2026-05-31
    days on market $140,000 Active 151 DOM
14. 2026-05-07
    price $140,000 743-char remark

    Show marketing remark (743 chars)

    Nice townhouse on an end unit in a well-maintained community. 2 primary bedrooms upstairs each with their own full bathroom. Downstairs is a spacious living room with a gas fireplace. Property offers low maintenance outside with front and side yards maintained by the association. A sliding glass door leads to the fenced back yard and storage shed. A playground across the street and convenient to shopping and entertainment. Case#544-362992 IE (Insured Escrow) Subject to Appraisal. Property is Owned by the US Dept. of HUD. Seller makes no representations or warranties as to the property condition. HUD Homes are Sold "AS IS". Equal Housing Opportunity. Seller may contribute up to 3% for buyers closing costs upon buyer request.

15. 2026-04-07
    price $177,500 743-char remark

    Show marketing remark (743 chars)

    Nice townhouse on an end unit in a well-maintained community. 2 primary bedrooms upstairs each with their own full bathroom. Downstairs is a spacious living room with a gas fireplace. Property offers low maintenance outside with front and side yards maintained by the association. A sliding glass door leads to the fenced back yard and storage shed. A playground across the street and convenient to shopping and entertainment. Case#544-362992 IE (Insured Escrow) Subject to Appraisal. Property is Owned by the US Dept. of HUD. Seller makes no representations or warranties as to the property condition. HUD Homes are Sold "AS IS". Equal Housing Opportunity. Seller may contribute up to 3% for buyers closing costs upon buyer request.

16. 2026-02-06
    price $197,100 743-char remark

    Show marketing remark (743 chars)

    Nice townhouse on an end unit in a well-maintained community. 2 primary bedrooms upstairs each with their own full bathroom. Downstairs is a spacious living room with a gas fireplace. Property offers low maintenance outside with front and side yards maintained by the association. A sliding glass door leads to the fenced back yard and storage shed. A playground across the street and convenient to shopping and entertainment. Case#544-362992 IE (Insured Escrow) Subject to Appraisal. Property is Owned by the US Dept. of HUD. Seller makes no representations or warranties as to the property condition. HUD Homes are Sold "AS IS". Equal Housing Opportunity. Seller may contribute up to 3% for buyers closing costs upon buyer request.

17. 2025-12-30
    listed $219,000 Active 743-char remark

    Show marketing remark (743 chars)

    Nice townhouse on an end unit in a well-maintained community. 2 primary bedrooms upstairs each with their own full bathroom. Downstairs is a spacious living room with a gas fireplace. Property offers low maintenance outside with front and side yards maintained by the association. A sliding glass door leads to the fenced back yard and storage shed. A playground across the street and convenient to shopping and entertainment. Case#544-362992 IE (Insured Escrow) Subject to Appraisal. Property is Owned by the US Dept. of HUD. Seller makes no representations or warranties as to the property condition. HUD Homes are Sold "AS IS". Equal Housing Opportunity. Seller may contribute up to 3% for buyers closing costs upon buyer request.

18. 2022-09-27
    status Under Contract
19. 2022-09-11
    historical Active Under Contract
20. 2022-08-30
    price $145,000
21. 2022-08-17
    listed $159,900 Active
22. 2018-08-22
    soldstatus $104,000
23. 2018-06-14
    status Under Contract
24. 2018-04-19
    listed $119,000 Active
25. 2018-04-19
    historical
26. 2018-03-02
    status Active
27. 2018-02-25
    historical
28. 2017-07-10
    price $119,900
29. 2017-06-27
    listed $120,000 Active
30. 2017-06-27
    historical
31. 2017-06-22
    price $120,000
32. 2017-06-01
    price $109,900
33. 2017-04-25
    listed $115,000 Active
34. 2004-12-14
    soldstatus $98,000

ⓘ 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: $1,615 · $135/mo
• Projected year-2 tax: $1,615 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $18,258
• − Mortgage interest: −$7,842
• − Property taxes: −$1,615
• − Insurance: −$700
• − Repairs & maintenance: −$1,461
• − Management: −$1,461
• − HOA: −$912
• − Depreciation: −$4,073
• Taxable income: $195
• Est. tax owed @ 24.0%: −$47
• After-tax cash flow: $2,340/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: Franklin City Public School District
• NCES district ID: 5101410
• Math proficiency: 23% ▼ -48.00%
• Reading proficiency: 51% ▼ -18.00%
• Median HH income: $35,138
• Composite: 30.47/100
• National rank: #6227
• State rank: #127 of 131 in VA

Livability — Franklin

• Score: 59/100
• State rank: #461
• US rank: #19645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, VA
• Population (ZIP): 13,481

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 7,817 people
• By 2030: 7,480 · -4.3%
• By 2040: 6,803 · -13.0%
• By 2050: 6,124 · -21.7%
• By 2075: 4,484 · -42.6%
• By 2100: 2,967 · -62.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 45% White 44% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: -5.3pp toward R · 2008: 28.1pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+25.6 2016: D+27.1 2012: D+30.7 2008: D+28.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.51%
• Current HPI: 293.564
• 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

+42.9% since first listed

21 events — show timeline

• 2026-05-07 Price Changed $140,000 REINMLS
• 2026-04-07 Price Changed $177,500 REINMLS
• 2026-02-06 Price Changed $197,100 REINMLS
• 2025-12-30 Listed $219,000 REINMLS
• 2022-09-27 Pending — REINMLS
• 2022-09-11 Contingent — REINMLS
• 2022-08-30 Price Changed $145,000 REINMLS
• 2022-08-17 Listed $159,900 REINMLS
• 2018-08-22 Sold (Public Records) $104,000 Public Records
• 2018-06-14 Pending — REINMLS
• 2018-04-19 Listing Removed — REINMLS
• 2018-04-19 Listed $119,000 REINMLS
• 2018-03-02 Relisted — REINMLS
• 2018-02-25 Listing Removed — REINMLS
• 2017-07-10 Price Changed $119,900 REINMLS
• 2017-06-27 Listed $120,000 REINMLS
• 2017-06-27 Listing Removed — REINMLS
• 2017-06-22 Price Changed $120,000 REINMLS
• 2017-06-01 Price Changed $109,900 REINMLS
• 2017-04-25 Listed $115,000 REINMLS
• 2004-12-14 Sold (Public Records) $98,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,615 · +0.0% YoY. Source: county tax records.