800 Prospect Ave · Bristol, VA 24201

$189,000

3 bd · 2.0 ba · 1,268 sqft · SingleFamily public records · 14 Days on market

Built 1951 0.29 ac lot Est $203k · 7% 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).

• Cash flow +16.8/30.0
• ARV discount +10.6/15.0
• DSCR +5.2/10.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Conveniently located in Bristol, Virginia, this 3-bedroom, 2-bath home offers the ease of one-level living with additional finished space in the basement and an attached garage. Hardwood flooring runs throughout much of the main level, and the functional floor plan provides comfortable everyday living with plenty of potential to make the space your own. The finished basement offers flexibility for a den, home office, hobby room, workout area, or additional living space. Recent improvements include a new HVAC system installed in 2020 and a new water heater in 2025, providing added value and peace of mind. Whether you're a first-time homebuyer, looking to downsize, or searching for a property

Key facts

• Hardwood flooring
• Finished basement
• One level living

Tags

• ONE LEVEL LIVING
• FINISHED SPACE IN BASEMENT
• HARDWOOD FLOORING
• FUNCTIONAL FLOOR PLAN
• FINISHED BASEMENT
• NEW HVAC SYSTEM

Property features AI

Exterior

• Parking: Attached asphalt garage with 1 garage space
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family house; Two levels; Residential zoning (R)
• Construction: Vinyl siding; Composition roof; Block foundation; Built with a below-grade finished area
• Exterior features: Side porch; Level to sloped topography

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Insulated windows; Fireplace in living room and basement; Partially finished basement (concrete)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/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 $159k (16.1% below list).
• Recommended offer: $159k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• Zoned schools: Virginia Middle (math 56% / reading 71%, grade B+, #128 of 342 statewide, top 39%, 487 students, 101% FRL); Virginia High (math 62% / reading 77%, grade B, #159 of 319 statewide, top 53%, 637 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 active listings in the ZIP; 10 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 $1k of loan paydown is wiped out by about $6k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $95k; list at $189k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,617 (16.1% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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?
5. 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?
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: 0.84% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.75%
• DSCR: 1.12
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $202,880
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
726 Lawrence Ave	0.14mi	3/1.0	1,205 (-5%)	3mo	$194,000	$161	78
617 Prince St	0.26mi	3/1.0	1,228 (-3%)	8mo	$232,000	$189	72
1006 Highland Ave	0.41mi	2/2.0 (-1)	1,356 (+7%)	1mo	$225,000	$166	63
1205 Euclid Ave	0.39mi	3/2.0	1,207 (-5%)	17mo	$165,000	$137	60
719 Vernon St	0.30mi	2/1.0 (-1)	1,188 (-6%)	9mo	$180,000	$152	59
332 Randolph St	0.68mi	3/2.0	1,342 (+6%)	1mo	$215,000	$160	58
617 Vernon St	0.33mi	2/1.0 (-1)	1,227 (-3%)	21mo	$199,900	$163	53
144 Crescent Dr	0.56mi	3/1.5	1,098 (-13%)	8mo	$126,800	$115	43
441 Clinton Ave	0.66mi	2/1.0 (-1)	1,306 (+3%)	15mo	$9,780	$7	42
359 Buchanan St	0.73mi	2/1.0 (-1)	1,228 (-3%)	22mo	$120,000	$98	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: -12.0%
• Equity multiple: 0.57×
• Total profit: $-22,988
• Equity at exit: $28,181

10-year hold

• IRR: -2.9%
• Equity multiple: 0.80×
• Total profit: $-10,414
• Equity at exit: $16,341

Cash invested: $52,920 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,586 high
• Mortgage (P&I): −$991
• Tax from tax record: −$62 /mo · $744/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $121

Break-even live

Break-even rent $1,433

Max offer price $189,000

Occupancy floor 87%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1216 Norway St Unit 101 Bristol, VA	4.0	2.0	1615	$2,100	$1.30	13d	1	0.91mi
1216 Norway St Unit 102 Bristol, VA	2.0	1.0	1215	$1,600	$1.32	13d	1	0.91mi
1405 Newton St Bristol, VA	3.0	1.0	1200	$1,600	$1.33	13d	1	1.00mi
135 Kingsolver St Bristol, VA	2.0	1.0	1000	$1,400	$1.40	21d	1	1.01mi
203 Opal Ln Unit 4 Bristol, VA	2.0	1.5	1200	$1,500	$1.25	21d	1	1.10mi
308 Emerald Dr Unit 308 Bristol, VA	2.0	1.5	970	$1,200	$1.24	43d	1	1.15mi
1136 Moorland Ave Bristol, VA	2.0	1.0	936	$1,250	$1.34	43d	1	1.18mi
1156 Bristol View Dr Bristol, VA	2.0	2.5	1152	$1,650	$1.43	13d	2	1.26mi
1718 Clifton Rd Bristol, TN	3.0	1.5	1672	$1,900	$1.14	43d	1	1.48mi
279 Reservoir St Bristol, VA	3.0	1.5	1300	$1,600	$1.23	13d	1	1.48mi

Listing history 12 events

1. 2026-06-19
   days on market $189,000 Active 14 DOM
2. 2026-06-18
   days on market $189,000 Active 13 DOM
3. 2026-06-17
   days on market $189,000 Active 12 DOM
4. 2026-06-16
   days on market $189,000 Active 11 DOM
5. 2026-06-15
   days on market $189,000 Active 10 DOM
6. 2026-06-14
   days on market $189,000 Active 8 DOM
7. 2026-06-13
   days on market $189,000 Active 7 DOM
8. 2026-06-10
   pricedays on market $189,000 Active 5 DOM
9. 2026-06-09
   days on market $199,000 Active 4 DOM
10. 2026-06-08
    days on market $199,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $199,000 Active 2 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: $744 · $62/mo
• Projected year-2 tax: $1,550 · $129/mo
• Expected delta: +$806/yr (+$67/mo · 108.4%)

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

Taxation est. · year 1

• Rental income: $19,034
• − Mortgage interest: −$10,587
• − Property taxes: −$744
• − Insurance: −$945
• − Repairs & maintenance: −$1,523
• − Management: −$1,523
• − Depreciation: −$5,498
• Taxable loss: −$1,785
• Est. tax savings @ 24.0%: +$428
• After-tax cash flow: $1,883/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

+109.5% since first listed

2 events — show timeline

• 2026-06-05 Listed $199,000 TVRMLS
• 2011-10-04 Sold (Public Records) $95,000 Public Records