345 Monroe St · Bristol, VA 24201

$239,000

2 bd · 1.5 ba · 1,750 sqft · SingleFamily public records · 87 Days on market

Built 1953 $137/sqft · 22% above area Est $195k · 22% over

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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).

• Cash flow +22.4/30.0
• DSCR +7.2/10.0
• Schools +5.2/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great home in a desirable neighborhood featuring 2-3 bedrooms and 2 full baths. This property offers exceptional functionality with a detached garage plus two additional garage spaces in the basement - plenty of room for vehicles, storage or a workshop. Included are two extra lots, providing outstanding potential for expansion, investment or added privacy. Located just 1 block from a new multi-million dollar condo development, this home is perfectly positioned in a rapidly growing area. Enjoy views of the new Hard Rock Casino from your front porch. The home is move-in ready as-is, with the opportunity to make a few updates and transform it into something truly special. Conveniently situated just half a mile from Exit 1 off interstate 81, with Kroger Grocery Store only 3 blocks away - making daily errands quick and easy

Key facts

• Move-in ready
• Two extra lots
• Detached garage

Tags

• DETACHED GARAGE
• TWO EXTRA LOTS
• MOVE-IN READY
• HALF A MILE FROM EXIT 1

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/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 $231k (3.4% below list).
• Recommended offer: $225k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.9% in Bristol — 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 (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bristol City Public School District (urban): math 57% / reading 70% proficiency, ranked #53 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 156 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 15 units permitted in Bristol city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bristol County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($225k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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 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?
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. 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?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.14%
• DSCR: 1.32
• GRM: 8.6

CMA / ARV

• ARV (median comp): $195,154
• List price: $239,000
• Delta: 22.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2409 Bradley St	0.05mi	3/2.0 (+1)	1,607 (-8%)	22mo	$245,000	$152	59
2549 Bay St	0.65mi	3/2.0 (+1)	1,700 (-3%)	1mo	$290,000	$171	57
255 Locust Hill Dr	0.51mi	3/1.5 (+1)	1,880 (+7%)	6mo	$175,000	$93	54
2301 Bay St	0.56mi	2/2.5	1,697 (-3%)	20mo	$105,000	$62	48
2166 Veda Dr	0.63mi	3/1.5 (+1)	1,910 (+9%)	9mo	$245,000	$128	43
2233 Collins St	0.23mi	3/2.0 (+1)	1,543 (-12%)	24mo	$170,000	$110	42
1712 Broad St	0.64mi	3/2.0 (+1)	1,612 (-8%)	10mo	$85,000	$53	42
420 Douglas St	0.70mi	3/1.0 (+1)	1,588 (-9%)	8mo	$227,000	$143	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-13,475
• Equity at exit: $35,636

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $20,495
• Equity at exit: $20,664

Cash invested: $66,920 (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 24201

• Active inventory: 156
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,308 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$72 /mo · $869/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $398

Break-even live

Break-even rent $1,804

Max offer price $239,000

Occupancy floor 78%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2510 Catherine St Bristol, VA	3.0	2.0	1418	$2,500	$1.76	13d	1	0.16mi
145 Midway St Unit 1397968P Bristol, VA	3.0	2.0	1388	$5,335	$3.84	21d	1	0.23mi
1718 Clifton Rd Bristol, TN	3.0	1.5	1672	$1,900	$1.14	43d	1	0.82mi
2931 Broad St #124 Bristol, TN	3.0	2.5	1248	$1,500	$1.20	21d	1	1.23mi

Listing history 17 events

1. 2026-06-19
   days on market $239,000 Active 87 DOM
2. 2026-06-18
   days on market $239,000 Active 86 DOM
3. 2026-06-17
   days on market $239,000 Active 85 DOM
4. 2026-06-16
   days on market $239,000 Active 84 DOM
5. 2026-06-15
   days on market $239,000 Active 83 DOM
6. 2026-06-14
   days on market $239,000 Active 81 DOM
7. 2026-06-13
   days on market $239,000 Active 80 DOM
8. 2026-06-10
   days on market $239,000 Active 78 DOM
9. 2026-06-09
   days on market $239,000 Active 77 DOM
10. 2026-06-08
    days on market $239,000 Active 76 DOM
11. 2026-06-07
    days on market $239,000 Active 75 DOM
12. 2026-06-03
    days on market $239,000 Active 71 DOM
13. 2026-06-02
    days on market $239,000 Active 70 DOM
14. 2026-06-01
    days on market $239,000 Active 69 DOM
15. 2026-05-31
    days on market $239,000 Active 68 DOM
16. 2026-05-30
    days on market $239,000 Active 67 DOM
17. 2026-03-20
    listed $239,000 Active 830-char remark

    Show marketing remark (830 chars)

    Great home in a desirable neighborhood featuring 2-3 bedrooms and 2 full baths. This property offers exceptional functionality with a detached garage plus two additional garage spaces in the basement - plenty of room for vehicles, storage or a workshop. Included are two extra lots, providing outstanding potential for expansion, investment or added privacy. Located just 1 block from a new multi-million dollar condo development, this home is perfectly positioned in a rapidly growing area. Enjoy views of the new Hard Rock Casino from your front porch. The home is move-in ready as-is, with the opportunity to make a few updates and transform it into something truly special. Conveniently situated just half a mile from Exit 1 off interstate 81, with Kroger Grocery Store only 3 blocks away - making daily errands quick and easy

ⓘ 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: $869 · $72/mo
• Projected year-2 tax: $1,960 · $163/mo
• Expected delta: +$1,091/yr (+$91/mo · 125.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,698
• − Mortgage interest: −$13,388
• − Property taxes: −$869
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − Depreciation: −$6,953
• Taxable income: $862
• Est. tax owed @ 24.0%: −$207
• After-tax cash flow: $4,571/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: Bristol City Public School District
• NCES district ID: 5100450
• Math proficiency: 57% ▼ -24.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $33,978
• Composite: 52.4/100
• National rank: #1579
• State rank: #53 of 131 in VA

Livability — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, VA
• City population: 16,039
• Population (ZIP): 16,039

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 16,113 people
• By 2030: 15,510 · -3.7%
• By 2040: 14,121 · -12.4%
• By 2050: 12,847 · -20.3%
• By 2075: 9,870 · -38.7%
• By 2100: 7,883 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Serbian 1% Iranian 0%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Bristol

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -13.6pp toward R · 2008: -26.0pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+38.9 2016: R+43.8 2012: R+31.1 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.40%
• Current HPI: 196.2099
• 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

1 event — show timeline

• 2026-03-20 Listed $239,000 TVRMLS