215 Rob-lee Dr · Laurel Park, VA 24112

$29,000

3 bd · 2.0 ba · 1,188 sqft · SingleFamily public records · 1 Days on market

Built 1992 0.64 ac lot

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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
• Schools +4.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special! This property is in need of significant repairs and is being sold as-is. Enter at your own risk - buyers and agents must sign a hold harmless agreement prior to entry. Information taken from tax assessment and/or seller. Buyer/Buyer Agent to verify.

Key facts

• 0.64 acre lot
• Built 1992

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $760 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).

Location & tenants

• Location reads 57/100 on livability (#492 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime D+, schools F, amenities F.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 256 active listings in the ZIP; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $200 of loan paydown is wiped out by about $870 of value loss. Plan a longer hold.
• Henry County population projected at -28% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
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: 4.12% ✓
• Cap rate: 37.76%
• Cash-on-cash: 112.38%
• DSCR: 6.00
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $138,996
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Dyers Store Rd	0.71mi	2/1.0 (-1)	1,064 (-10%)	21mo	$125,000	$117	22

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: —
• Equity multiple: 6.39×
• Total profit: $43,742
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 13.38×
• Total profit: $100,486
• Equity at exit: $2,507

Cash invested: $8,120 (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 24112

• Active inventory: 256
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,194 medium
• Mortgage (P&I): −$152
• Tax from tax record: −$18 /mo · $221/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $760

Break-even live

Break-even rent $231

Max offer price $29,000

Occupancy floor 31%

Sensitivity live

Price	-10% $777	-5% $769	+0% $760	+5% $752	+10% $744
Rent	-10% $666	-5% $713	+0% $760	+5% $808	+10% $855
Rate	-1.0pp $775	-0.5pp $768	base $760	+0.5pp $753	+1.0pp $745

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-03-27
   status Pending 267-char remark

   Show marketing remark (267 chars)

   Investor special! This property is in need of significant repairs and is being sold as-is. Enter at your own risk - buyers and agents must sign a hold harmless agreement prior to entry. Information taken from tax assessment and/or seller. Buyer/Buyer Agent to verify.

2. 2026-03-27
   status Pending

   Show marketing remark (267 chars)

   Investor special! This property is in need of significant repairs and is being sold as-is. Enter at your own risk - buyers and agents must sign a hold harmless agreement prior to entry. Information taken from tax assessment and/or seller. Buyer/Buyer Agent to verify.

3. 2026-03-25
   listed $29,000 Active 267-char remark

   Show marketing remark (267 chars)

   Investor special! This property is in need of significant repairs and is being sold as-is. Enter at your own risk - buyers and agents must sign a hold harmless agreement prior to entry. Information taken from tax assessment and/or seller. Buyer/Buyer Agent to verify.

4. 2026-03-25
   listed $29,000 Active

   Show marketing remark (267 chars)

   Investor special! This property is in need of significant repairs and is being sold as-is. Enter at your own risk - buyers and agents must sign a hold harmless agreement prior to entry. Information taken from tax assessment and/or seller. Buyer/Buyer Agent to verify.

ⓘ 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: $221 · $18/mo
• Projected year-2 tax: $238 · $20/mo
• Expected delta: +$17/yr (+$1/mo · 7.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,325
• − Mortgage interest: −$1,624
• − Property taxes: −$221
• − Insurance: −$145
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$844
• Taxable income: $9,199
• Est. tax owed @ 24.0%: −$2,208
• After-tax cash flow: $6,918/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: Henry County Public School District
• NCES district ID: 5101920
• Math proficiency: 45% ▼ -37.00%
• Reading proficiency: 69% ▼ -6.00%
• Median HH income: $34,579
• Composite: 47.02/100
• National rank: #2345
• State rank: #78 of 131 in VA

Livability — Laurel Park

• Score: 57/100
• State rank: #492
• US rank: #21673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Martinsville City · 31,028 people
• Metro: Martinsville, VA
• Population (ZIP): 31,028
• Household income: $48,770
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 888.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 46,903 people
• By 2030: 44,141 · -5.9%
• By 2040: 38,687 · -17.5%
• By 2050: 33,742 · -28.1%
• By 2075: 25,720 · -45.2%
• By 2100: 19,868 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+32.8) · D 33.3% · R 66.1%
• 2008→2024 swing: -22.4pp toward R · 2008: -10.5pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.1 2016: R+29.2 2012: R+14.7 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.37%
• Current HPI: 172.4393
• Rent YoY: —
• Metro: Martinsville, 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

+0.0% since first listed

4 events — show timeline

• 2026-03-27 Pending — MHPCAR
• 2026-03-27 Pending — MLSRV
• 2026-03-25 Listed $29,000 MLSRV
• 2026-03-25 Listed $29,000 MHPCAR

Property tax history

+0.8%/yr

Latest (2025): $221 · +0.0% YoY. Source: county tax records.