3902 Pinalto Dr · Richmond, VA 23222

$260,000

3 bd · 1.0 ba · 1,464 sqft · SingleFamily public records · 1 Days on market

Built 1953 Est $351k · 26% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Really great home for first time buyer close to downtown

Key facts

• First-floor bedroom
• Renovated kitchens
• Renovated bathrooms

Tags

• UPDATED CAPE COD
• RENOVATED KITCHENS
• RENOVATED BATHROOMS
• FIRST-FLOOR BEDROOM
• PRIVATE UPPER-LEVEL RETREAT
• PARTIAL WALK-OUT BASEMENT

Property features AI

Finance

• Other: Above-grade finished area approximately 1,464 (reported); Below-grade unfinished area approximately 630 (reported)

Exterior

• Parking: Off-street paved driveway
• Utilities: Public water; Public sewer
• Home design: Single-story home; Frame construction with vinyl siding; Composition roof; Resale property
• Construction: Frame construction; Vinyl siding; Composition roof
• Exterior features: Paved driveway; Driveway is paved and off-street

Interior

• Bedrooms: Primary bedroom on the main level
• Flooring: Wood flooring; Partially carpeted
• Bathrooms: 2 full bathrooms; Full baths include tub and shower
• Heating & cooling: Natural gas heating with floor furnace; Window cooling units
• Interior features: Main level primary bedroom; Partially carpeted and wood flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (26.9% below list).
• Recommended offer: $190k (26.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.3% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Henrico County Public School District (suburban): math 49% / reading 64% proficiency, ranked #68 of 131 in VA (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.4%/yr); 179 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,826 units permitted in Henrico County in 2024 (785 in 5+ unit buildings).
• This rent runs 37% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Henrico County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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 $115k; list at $260k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,087 (26.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1953 — 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 A-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. Crime grade is D 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.73% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $351,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3901 Pinalto Dr	0.03mi	3/2.0	1,464 (0%)	3mo	$266,750	$182	92
426 Hunt Ave	0.36mi	3/2.5	1,520 (+4%)	3mo	$374,950	$247	68
422 Hunt Ave	0.36mi	3/2.5	1,520 (+4%)	3mo	$369,950	$243	68
410 Grayson Ave	0.41mi	3/2.5	1,410 (-4%)	4mo	$330,000	$234	66
405 E Ladies Mile Rd	0.33mi	3/2.5	1,612 (+10%)	3mo	$300,000	$186	59
3520 Delaware Ave	0.66mi	3/2.5	1,496 (+2%)	1mo	$430,000	$287	58
507 Patrick Ave	0.48mi	4/2.0 (+1)	1,552 (+6%)	4mo	$298,000	$192	56
3906 Alma Ave	0.43mi	4/2.0 (+1)	1,260 (-14%)	2mo	$275,000	$218	46
3415 Delaware Ave	0.72mi	4/2.0 (+1)	1,548 (+6%)	2mo	$415,000	$268	46
514 Pollock St	0.65mi	3/2.5	1,642 (+12%)	0mo	$394,000	$240	43
3510 Maryland Ave	0.74mi	3/2.0	1,305 (-11%)	1mo	$350,000	$268	42
611 Pollock St	0.71mi	2/1.0 (-1)	1,254 (-14%)	0mo	$280,000	$223	38

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 · 7.43% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.47×
• Total profit: $-38,803
• Equity at exit: $38,767

10-year hold

• IRR: -0.2%
• Equity multiple: 0.98×
• Total profit: $-1,376
• Equity at exit: $22,480

Cash invested: $72,800 (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 23222

• Rents YoY: 7.4%
• Active inventory: 179
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,901 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$115 /mo · $1,380/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-85

Break-even live

Break-even rent $2,009

Max offer price $244,962

Occupancy floor 99%

Sensitivity live

Price	-10% $62	-5% $-12	+0% $-85	+5% $-159	+10% $-232
Rent	-10% $-235	-5% $-160	+0% $-85	+5% $-10	+10% $65
Rate	-1.0pp $46	-0.5pp $-19	base $-85	+0.5pp $-152	+1.0pp $-221

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3716 Delmont St Richmond, VA	2.0	2.0	890	$1,122	$1.26	44d	1	0.25mi
3800 North Ave Richmond, VA	3.0	1.0	1008	$1,650	$1.64	12d	1	0.48mi
3501 Meadowbridge Rd Richmond, VA	3.0	1.0	1383	$1,495	$1.08	20d	1	0.49mi
3501 Meadowbridge Rd Richmond, VA	3.0	1.0	1383	$1,495	$1.08	24d	1	0.49mi
3909 Patrick Ave Richmond, VA	3.0	1.5	1200	$2,650	$2.21	44d	1	0.51mi
3311 Cliff Ave Richmond, VA	2.0	1.5	1567	$2,000	$1.28	44d	1	0.52mi
3615 Missouri Ave Richmond, VA	3.0	2.0	1758	$2,150	$1.22	44d	1	0.58mi
3324 Meadowbridge Rd Richmond, VA	4.0	2.5	1667	$2,175	$1.30	17d	1	0.63mi
622 Pollock St Richmond, VA	3.0	1.5	1122	$2,300	$2.05	24d	1	0.72mi
3204 North Ave Richmond, VA	3.0	2.5	1626	$2,395	$1.47	5d	1	0.79mi
3418 Carolina Ave Unit A Richmond, VA	2.0	1.0	1000	$1,524	$1.52	44d	1	0.84mi
3425 Carolina Ave Unit A Richmond, VA	3.0	1.0	1300	$1,400	$1.08	44d	1	0.87mi
3425 Carolina Ave Unit B Richmond, VA	3.0	1.0	1300	$1,400	$1.08	24d	1	0.87mi
3211 Maryland Ave Richmond, VA	4.0	1.5	1344	$1,871	$1.39	44d	1	0.88mi
3621 Enslow Ave Richmond, VA	2.0	1.5	1232	$2,850	$2.31	24d	1	0.92mi
3117 Meadowbridge Rd Richmond, VA	2.0	1.0	887	$1,225	$1.38	44d	1	0.92mi
3511 1st Ave Richmond, VA	4.0	1.5	1600	$2,050	$1.28	24d	1	1.00mi
3202 1st Ave Richmond, VA	3.0	2.5	1440	$2,062	$1.43	22d	1	1.05mi
3007 Moss Side Ave Richmond, VA	3.0	2.5	1772	$2,495	$1.41	24d	1	1.17mi
2922 Noble Ave Unit A Richmond, VA	2.0	1.0	1200	$1,499	$1.25	5d	1	1.25mi
3317 Waverly Blvd Unit B Richmond, VA	3.0	2.0	1500	$1,875	$1.25	17d	1	1.26mi
1519 Byron St Richmond, VA	3.0	1.5	1384	$1,700	$1.23	3d	1	1.27mi
2807 Edgewood Ave Richmond, VA	3.0	1.0	1320	$1,750	$1.33	44d	1	1.29mi
4008 Wilmont Dr Richmond, VA	3.0	1.0	1040	$2,095	$2.01	24d	1	1.30mi
3017 Dill Ave Richmond, VA	4.0	2.0	1578	$1,895	$1.20	4d	1	1.31mi
3103 Dill Ave Richmond, VA	3.0	1.5	1380	$2,050	$1.49	24d	1	1.31mi
2810 2nd Ave Richmond, VA	2.0	1.0	1120	$1,950	$1.74	44d	1	1.32mi
5501 Pony Farm Dr Richmond, VA	1.0–3.0	1.0–2.0	794	$1,850	$2.33	2d	133	1.36mi
2919 4th Ave #2 Richmond, VA	2.0	2.0	950	$1,287	$1.35	44d	1	1.38mi
3200 Brook Rd Richmond, VA	1.0–2.0	1.0–2.5	968	$2,633	$2.72	2d	20	1.39mi
2420 Barton Ave Apt 2 Richmond, VA	2.0	1.0	900	$1,150	$1.28	24d	1	1.43mi
2806 Hawthorne Ave Unit 1 Richmond, VA	2.0	1.0	1144	$1,400	$1.22	44d	1	1.44mi
2416 Barton Ave Apt 2 Richmond, VA	2.0	1.0	1000	$1,150	$1.15	44d	1	1.45mi

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $260,000 Active 1 DOM

ⓘ 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: $1,380 · $115/mo
• Projected year-2 tax: $2,132 · $178/mo
• Expected delta: +$752/yr (+$63/mo · 54.5%)

ⓘ 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 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,810
• − Mortgage interest: −$14,564
• − Property taxes: −$1,380
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,825
• − Management: −$1,825
• − Depreciation: −$7,564
• Taxable loss: −$5,647
• Est. tax savings @ 24.0%: +$1,355
• After-tax cash flow: $334/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: Henrico County Public School District
• NCES district ID: 5101890
• Math proficiency: 49% ▼ -32.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $61,854
• Composite: 49.25/100
• National rank: #2031
• State rank: #68 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 26,322
• Household income: $61,345
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1325.0

Population outlook (Henrico County) Hauer SSP2

• Today (2025): 365,885 people
• By 2030: 384,255 · +5.0%
• By 2040: 416,688 · +13.9%
• By 2050: 442,376 · +20.9%
• By 2075: 488,037 · +33.4%
• By 2100: 487,430 · +33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 21% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Henrico

• 2024 margin: Strong D (+28.9) · D 63.7% · R 34.8% · Other 1.5%
• 2008→2024 swing: +16.6pp toward D · 2008: 12.2pp · 2024: 28.9pp
• All cycles: 2024: D+28.9 2020: D+29.0 2016: D+21.0 2012: D+11.7 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -288.72%
• Current HPI: 428.4029
• Rent YoY: ▲ 7.43%
• Metro: Richmond, VA
• 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

+199.0% since first listed

9 events — show timeline

• 2026-06-17 Listed $260,000 CVRMLS
• 2019-05-09 Sold (Public Records) $115,000 Public Records
• 2019-05-08 Sold (MLS) $115,000 CVRMLS
• 2019-04-02 Pending — CVRMLS
• 2019-03-16 Listed $115,000 CVRMLS
• 2003-04-09 Sold (MLS) $88,950 CVRMLS
• 2003-02-02 Listing Removed — CVRMLS
• 2003-01-08 Listed $86,950 CVRMLS
• 2003-01-08 Listed $86,950 CVRMLS

Property tax history

+6.1%/yr

Latest (2025): $1,380 · +16.6% YoY. Source: county tax records.