931 Light St · Heathsville, VA 22473

$100,000

3 bd · 2.0 ba · 1,008 sqft · SingleFamily · 10 Days on market

Built 1975 0.59 ac lot $99/sqft · 47% below area Est $190k · 47% under

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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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Schools +4.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 931 Light Street in Heathsville—a completely renovated 3-bedroom, 2-bath rancher offering 1,008± SF on a 0.60± acre lot. Originally built in 1975, this home has been thoughtfully updated from top to bottom. Ideally located near local shops, dining, and the waterways that make the Northern Neck so charming, including close proximity to the Rappahannock River and Chesapeake Bay. This property is ideal as an investment rental property, a first home, downsizing opportunity, or a seasonal getaway. NOTE: This property is subject to Auction, the list price is not the selling price, but the opening bid at the auction. The seller reserves the right to accept an offer p

Key facts

• Completely renovated
• 0.60 acre lot
• 0.59 acre lot

Tags

• COMPLETELY RENOVATED
• 0.60 ACRE LOT

Property features AI

Exterior

• Parking: Circular driveway; Off-street parking; No garage
• Security: Smoke detectors
• Utilities: Well water; Septic tank
• Home design: Single-story home; Resale property
• Construction: Block and drywall construction with vinyl siding; Composition/shingle roof; Crawl space foundation; Built as actual year (year built details available)
• Exterior features: Front porch; Porch; Deck

Interior

• Kitchen: Stove; Microwave; Dishwasher; Refrigerator; Granite counters
• Bedrooms: Three bedrooms on the first floor (dimensions: 11.6 x 11.7; 12.0 x 11.3; 14.0 x 11.7)
• Flooring: Partially carpeted; Vinyl
• Bathrooms: Two full bathrooms; Full bath on first floor with tub & shower
• Heating & cooling: Heat pump heating (electric); Central electric air conditioning
• Interior features: Dining area; Eat-in kitchen; Granite counters; Recessed lighting; Bedroom on main level
• Laundry & utility: Washer/dryer stacked; Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.4% vs local median 1.5% in Heathsville — 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 56/100 on livability (#510 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, schools A, crime A; Watch: amenities F, commute F, employment F.
• Northumberland County Public School District (rural): math 47% / reading 65% proficiency, ranked #75 of 131 in VA (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 238 active listings in the ZIP; 60 units permitted in Northumberland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Northumberland County population projected at -14% 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 $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.21% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.53%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (median comp): $190,032
• List price: $100,000
• Delta: -60.53%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
931 Light St	0.00mi	3/2.0	1,008 (0%)	11mo	$222,000	$220	91

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $5,364
• Equity at exit: $14,910

10-year hold

• IRR: 14.4%
• Equity multiple: 2.16×
• Total profit: $32,371
• Equity at exit: $8,646

Cash invested: $28,000 (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 22473

• Home prices YoY: -25.2%
• Active inventory: 238
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$53 /mo · $636/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $339

Break-even live

Break-even rent $784

Max offer price $100,000

Occupancy floor 67%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-15
   statusdays on market $100,000 Pending 10 DOM
2. 2026-06-13
   days on market $100,000 Active 9 DOM
3. 2026-06-12
   days on market $100,000 Active 8 DOM
4. 2026-06-09
   days on market $100,000 Active 5 DOM
5. 2026-06-08
   days on market $100,000 Active 4 DOM
6. 2026-06-08
   days on market $100,000 Active 3 DOM
7. 2026-06-07
   remarks 679-char remark
8. 2026-06-07
   pricedays on marketlisting id $100,000 Active 2 DOM
9. 2026-05-07
   listed $75,000 Active 1316-char remark
10. 2026-04-23
    historical
11. 2026-04-22
    historical
12. 2026-03-11
    listed $219,900 Active
13. 2026-03-11
    listed $219,900 Active
14. 2026-03-11
    listed $219,900 Active
15. 2026-03-06
    historical
16. 2026-03-06
    historical
17. 2025-12-08
    price $235,000
18. 2025-12-08
    price $235,000
19. 2025-12-08
    price $235,000
20. 2025-10-07
    listed $247,500 Active
21. 2025-09-17
    listed $247,500 Active
22. 2025-09-06
    listed $247,500 Active
23. 2025-07-14
    soldstatus $222,000
24. 2025-07-11
    soldstatus $229,900 Closed
25. 2025-06-06
    status Pending
26. 2025-05-19
    price $229,900
27. 2025-05-08
    price $235,000
28. 2025-05-06
    price $259,900
29. 2025-04-21
    price $269,900
30. 2025-04-02
    listed $285,000 Active
31. 2025-01-09
    soldstatus $55,000

ⓘ 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: $636 · $53/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$184/yr (+$15/mo · 28.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $14,554
• − Mortgage interest: −$5,602
• − Property taxes: −$636
• − Insurance: −$500
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$2,909
• Taxable income: $2,579
• Est. tax owed @ 24.0%: −$619
• After-tax cash flow: $3,450/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: Northumberland County Public School District
• NCES district ID: 5102730
• Math proficiency: 47% ▼ -39.00%
• Reading proficiency: 65% ▼ -12.00%
• Median HH income: $52,524
• Composite: 47.93/100
• National rank: #2209
• State rank: #75 of 131 in VA

Livability — Heathsville

• Score: 56/100
• State rank: #510
• US rank: #22811

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,646

Population outlook (Northumberland County) Hauer SSP2

• Today (2025): 11,873 people
• By 2030: 11,609 · -2.2%
• By 2040: 10,938 · -7.9%
• By 2050: 10,235 · -13.8%
• By 2075: 8,922 · -24.9%
• By 2100: 7,288 · -38.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Black 30% Two or more races 8% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 3% Italian 1% Portuguese 1%
• Foreign-born: 3% · Vietnam, Canada
• Languages at home: 93% English-only · Spanish 3% Vietnamese 2% Other Indo-European 2%

Political lean MEDSL · Northumberland

• 2024 margin: Strong R (+21.2) · D 39.0% · R 60.2%
• 2008→2024 swing: -11.3pp toward R · 2008: -9.8pp · 2024: -21.2pp
• All cycles: 2024: R+21.2 2020: R+15.8 2016: R+27.6 2012: R+14.9 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.89%
• Current HPI: 169.0605
• 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

+81.8% since first listed

26 events — show timeline

• 2026-06-14 Pending — CVRMLS
• 2026-06-03 Listed $100,000 CVRMLS
• 2026-05-27 Listing Removed — CVRMLS
• 2026-05-07 Listed $75,000 CVRMLS
• 2026-04-23 Listing Removed — BRIGHT MLS
• 2026-04-22 Listing Removed — CVRMLS
• 2026-03-11 Listed $219,900 CVRMLS
• 2026-03-11 Listed $219,900 BRIGHT MLS
• 2026-03-11 Listed $219,900 NNAR
• 2026-03-06 Listing Removed — CVRMLS
• 2026-03-06 Listing Removed — BRIGHT MLS
• 2025-12-08 Price Changed $235,000 BRIGHT MLS
• 2025-12-08 Price Changed $235,000 NNAR
• 2025-12-08 Price Changed $235,000 CVRMLS
• 2025-10-07 Listed $247,500 BRIGHT MLS
• 2025-09-17 Listed $247,500 NNAR
• 2025-09-06 Listed $247,500 CVRMLS
• 2025-07-14 Sold (Public Records) $222,000 Public Records
• 2025-07-11 Sold (MLS) $229,900 CVRMLS
• 2025-06-06 Pending — CVRMLS
• 2025-05-19 Price Changed $229,900 CVRMLS
• 2025-05-08 Price Changed $235,000 CVRMLS
• 2025-05-06 Price Changed $259,900 CVRMLS
• 2025-04-21 Price Changed $269,900 CVRMLS
• 2025-04-02 Listed $285,000 CVRMLS
• 2025-01-09 Sold (Public Records) $55,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $636 · +58.9% YoY. Source: county tax records.