801 Fisher Farm Rd · Martinsville, VA 24113

$85,900

3 bd · 1.0 ba · 873 sqft · SingleFamily public records · 49 Days on market

Built 1945 0.59 ac lot Est $127k · 33% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Cute little house for someone looking to downsize or just starting out. Conveniently located minutes to Martinsville Speedway and the Bypass. 2 bedrooms and 1 bath on main floor with 2 bonus rooms that could be used as bedrooms upstairs. Sq, ft, kit size est. Information taken from tax assessment and/or seller.

Key facts

• New heat pump system
• New roof
• 0.59 acre lot

Tags

• NEW ROOF
• NEW HEAT PUMP SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Recommended offer: $83k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 5.9% in Martinsville — 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 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-.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($594 loan paydown + $3k appreciation (3.0% local appreciation)).
• Henry County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $30k; list at $86k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,323 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.75% ✓
• Cap rate: 15.82%
• Cash-on-cash: 34.01%
• DSCR: 2.51
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $127,458
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
801 Fisher Farm Rd	0.00mi	3/1.0	974 (+12%)	1mo	$78,000	$80	80
844 Fisher Farm Rd	0.04mi	2/1.0 (-1)	912 (+4%)	10mo	$179,000	$196	77
232 Confederate Ave	0.27mi	3/1.0	960 (+10%)	1mo	$154,900	$161	70
275 Southland Dr	0.29mi	3/1.0	960 (+10%)	0mo	$119,000	$124	70
205 Southland Dr	0.26mi	3/1.0	960 (+10%)	3mo	$72,000	$75	68
341 George Martin Dr	0.66mi	3/1.0	892 (+2%)	2mo	$130,000	$146	64
839 Southland Dr	0.67mi	3/1.0	960 (+10%)	10mo	$166,296	$173	44

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: 39.7%
• Equity multiple: 3.23×
• Total profit: $53,734
• Equity at exit: $38,624

10-year hold

• IRR: 39.6%
• Equity multiple: 6.42×
• Total profit: $130,406
• Equity at exit: $59,525

Cash invested: $24,052 (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 24113

• Active inventory: 1
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$450
• Tax from tax record: −$17 /mo · $204/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $682

Break-even live

Break-even rent $637

Max offer price $85,900

Occupancy floor 50%

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: $21,475
• Closing costs: $2,577
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
885 Southland Dr Martinsville, VA	3.0	1.0	960	$1,500	$1.56	43d	1	0.66mi

Listing history 5 events

1. 2026-03-30
   status Pending
2. 2026-02-10
   listed $85,900 Active
3. 2019-10-01
   soldstatus $30,000 312-char remark

   Show marketing remark (312 chars)

   Cute little house for someone looking to downsize or just starting out. Conveniently located minutes to Martinsville Speedway and the Bypass. 2 bedrooms and 1 bath on main floor with 2 bonus rooms that could be used as bedrooms upstairs. Sq, ft, kit size est. Information taken from tax assessment and/or seller.

4. 2019-10-01
   soldstatus $30,000

   Show marketing remark (312 chars)

   Cute little house for someone looking to downsize or just starting out. Conveniently located minutes to Martinsville Speedway and the Bypass. 2 bedrooms and 1 bath on main floor with 2 bonus rooms that could be used as bedrooms upstairs. Sq, ft, kit size est. Information taken from tax assessment and/or seller.

5. 2019-05-30
   listed $50,000 312-char remark

   Show marketing remark (312 chars)

   Cute little house for someone looking to downsize or just starting out. Conveniently located minutes to Martinsville Speedway and the Bypass. 2 bedrooms and 1 bath on main floor with 2 bonus rooms that could be used as bedrooms upstairs. Sq, ft, kit size est. Information taken from tax assessment and/or seller.

ⓘ 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: $204 · $17/mo
• Projected year-2 tax: $704 · $59/mo
• Expected delta: +$500/yr (+$42/mo · 244.9%)

ⓘ 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 ≥103°F today · 18 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,000
• − Mortgage interest: −$4,812
• − Property taxes: −$204
• − Insurance: −$430
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$2,499
• Taxable income: $7,176
• Est. tax owed @ 24.0%: −$1,722
• After-tax cash flow: $6,458/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: Henry County Public School District
• NCES district ID: 5101920
• Math proficiency: 45% ▼ -37.00%
• Reading proficiency: 69% ▼ -6.00%
• Median HH income: $34,579
• Composite: 47.02/100
• National rank: #2345
• State rank: #78 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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+71.8% since first listed

5 events — show timeline

• 2026-03-30 Pending — MHPCAR
• 2026-02-10 Listed $85,900 MHPCAR
• 2019-10-01 Sold (Public Records) $30,000 Public Records
• 2019-10-01 Sold (MLS) $30,000 MHPCAR
• 2019-05-30 Listed $50,000 MHPCAR

Property tax history

+0.8%/yr

Latest (2025): $204 · +0.0% YoY. Source: county tax records.