603 Griffin Blvd · Farmville, VA 23901

$108,900

4 bd · 1.0 ba · 2,276 sqft · SingleFamily public records · 89 Days on market

Built 1914 4,356 sqft lot ↓ 41% since listing

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step back in time with this stately 5-bedroom, 1.5 -bathroom home located up & across the street from Longwood University. Built in 1914, this spacious two-story residence showcases timeless character, featuring multiple original (non-functional) fireplaces, hardwood details, and inviting front and rear screened porches. With ample living space, off-street parking, a carport, and a detached shed, this property offers versatility and functionality. Whether you're envisioning a rental, or restoring it into your dream home, the potential here is endless. A true diamond in the rough, this historic home is waiting for the right owner to bring it back to life. An incredible opportunity in a

Key facts

• Hardwood details
• Screened porches
• Off-street parking

Tags

• ORIGINAL FIREPLACES
• HARDWOOD DETAILS
• SCREENED PORCHES
• OFF-STREET PARKING
• DETACHED SHED
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $102k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 2.8% in Farmville — 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 78/100 on livability (#79 in VA, #2,622 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime F, employment F.
• Prince Edward County Public School District (town): math 25% / reading 48% proficiency, ranked #126 of 131 in VA (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 151 active listings in the ZIP; 65 units permitted in Prince Edward County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $753 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Prince Edward County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $28k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,366 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1914 — 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. 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?
6. 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.
7. 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.
8. 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: 1.55% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.87%
• DSCR: 2.15
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $325,468
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 Second Ave	0.28mi	4/3.0	2,247 (-1%)	2mo	$376,000	$167	75
614 First Ave	0.12mi	4/2.0	1,968 (-14%)	7mo	$235,000	$119	62
905 Irving St	0.23mi	4/3.0	2,402 (+6%)	13mo	$380,500	$158	61
410 Fourth Ave	0.34mi	3/3.5 (-1)	2,401 (+6%)	3mo	$385,000	$160	58
1203 Sixth Ave	0.67mi	4/2.5	2,273 (-0%)	13mo	$325,000	$143	52
700 First Ave	0.13mi	4/3.5	2,556 (+12%)	22mo	$339,000	$133	45
1201 Fifth Ave	0.61mi	4/2.0	2,440 (+7%)	23mo	$325,000	$133	37
1305 Lee Dr	0.69mi	4/3.0	2,581 (+13%)	6mo	$312,000	$121	33

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: 19.5%
• Equity multiple: 1.79×
• Total profit: $24,202
• Equity at exit: $16,237

10-year hold

• IRR: 27.8%
• Equity multiple: 3.46×
• Total profit: $74,896
• Equity at exit: $9,416

Cash invested: $30,492 (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 23901

• Home prices YoY: -21.9%
• Active inventory: 151
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,684 medium
• Mortgage (P&I): −$571
• Tax from tax record: −$56 /mo · $676/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $657

Break-even live

Break-even rent $852

Max offer price $108,900

Occupancy floor 56%

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: $27,225
• Closing costs: $3,267
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $108,900 Active 89 DOM
2. 2026-06-17
   days on market $108,900 Active 88 DOM
3. 2026-06-17
   status $108,900 Active 87 DOM
4. 2025-07-14
   status Pending
5. 2025-07-03
   price $108,900
6. 2025-07-01
   status Active
7. 2025-06-25
   historical Active Under Contract
8. 2025-05-30
   price $121,000
9. 2025-04-18
   listed $137,000 Active
10. 2024-07-25
    historical
11. 2024-07-16
    status Active
12. 2024-07-04
    status Pending
13. 2024-07-03
    price $125,000
14. 2024-04-18
    listed $185,000 Active

ⓘ 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: $676 · $56/mo
• Projected year-2 tax: $893 · $74/mo
• Expected delta: +$217/yr (+$18/mo · 32.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,206
• − Mortgage interest: −$6,100
• − Property taxes: −$676
• − Insurance: −$544
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − Depreciation: −$3,168
• Taxable income: $6,484
• Est. tax owed @ 24.0%: −$1,556
• After-tax cash flow: $6,333/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: Prince Edward County Public School District
• NCES district ID: 5103060
• Math proficiency: 25% ▼ -37.00%
• Reading proficiency: 48% ▼ -12.00%
• Median HH income: $39,482
• Composite: 30.49/100
• National rank: #6221
• State rank: #126 of 131 in VA

Livability — Farmville

• Score: 78/100
• State rank: #79
• US rank: #2622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmville, VA
• City population: 1,176
• Population (ZIP): 15,016

Population outlook (Prince Edward County) Hauer SSP2

• Today (2025): 24,387 people
• By 2030: 24,161 · -0.9%
• By 2040: 23,194 · -4.9%
• By 2050: 22,292 · -8.6%
• By 2075: 20,854 · -14.5%
• By 2100: 19,030 · -22.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 27% Two or more races 5% Hispanic / Latino 3% Pacific Islander 1%
• Common ancestry: Italian 2% Serbian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Prince Edward

• 2024 margin: Toss-up / Even · D 48.2% · R 50.7% · Other 1.1%
• 2008→2024 swing: -12.5pp toward R · 2008: 9.9pp · 2024: -2.6pp
• All cycles: 2024: R+2.6 2020: D+5.6 2016: D+5.4 2012: D+12.8 2008: D+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.68%
• Current HPI: 183.9782
• 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

-41.1% since first listed

11 events — show timeline

• 2025-07-14 Pending — SCAR
• 2025-07-03 Price Changed $108,900 SCAR
• 2025-07-01 Relisted — SCAR
• 2025-06-25 Contingent — SCAR
• 2025-05-30 Price Changed $121,000 SCAR
• 2025-04-18 Listed $137,000 SCAR
• 2024-07-25 Listing Removed — CVRMLS
• 2024-07-16 Relisted — CVRMLS
• 2024-07-04 Pending — CVRMLS
• 2024-07-03 Price Changed $125,000 CVRMLS
• 2024-04-18 Listed $185,000 CVRMLS

Property tax history

+6.8%/yr

Latest (2025): $676 · +10.5% YoY. Source: county tax records.