1318 Shepherd St · South Boston, VA 24592

$105,000

2 bd · 1.0 ba · 1,474 sqft · SingleFamily public records · 28 Days on market

Built 1900 5,227 sqft lot Est $180k · 42% under

---

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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment property, with a good rental history. All on one level this three bedroom one bath home has almost 1500 Sq. Feet of living space. 12 feet ceiling, tall duel pain replacement windows, metal roof, vinyl siding, four fireplaces with original mantels and a updated bath, enclosed back porch with storage room and small yard make this a great rental in town. Walking distance to the post office, restaurants and other down town facilities. Being sold AS-IS.

Key facts

• Storage room
• Enclosed back porch
• Metal roof

Tags

• ONE LEVEL
• METAL ROOF
• VINYL SIDING
• FOUR FIREPLACES
• ENCLOSED BACK PORCH
• STORAGE ROOM

Property features AI

Exterior

• Parking: No garage
• Security: Smoke detector(s)
• Utilities: Cable available and connected; Public sewer
• Home design: Single family residence; Residential property
• Construction: Vinyl siding; Composition roof; Crawl space / no basement
• Exterior features: Enclosed porch; Porch; Has view

Interior

• Kitchen: Electric range
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Ceiling fan(s); Window unit(s)
• Interior features: Ceiling fans; High ceilings; 3 fireplaces (in bedroom, dining room, and living room); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 4.9% in South Boston — 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 (#147 in VA, #4,742 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Halifax County Public School District (town): math 29% / reading 59% proficiency, ranked #116 of 131 in VA (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Boston Elementary (math 18% / reading 48%, grade F, #986 of 1,108 statewide, top 89%, 666 students, 93% FRL); Halifax County Middle (math 27% / reading 60%, grade D, #285 of 342 statewide, top 84%, 925 students, 92% FRL); Halifax County High (math 40% / reading 69%, grade C-, #281 of 319 statewide, top 90%, 1,397 students, 90% FRL) — zoned schools average 92% FRL vs 58% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 61 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Halifax County population projected at -22% 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 $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $105k implies a 483% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 B-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. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.72%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $179,828
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1411 Fenton St	0.28mi	3/2.0 (+1)	1,440 (-2%)	6mo	$170,000	$118	69
104 Elizabeth Ct	0.39mi	3/1.5 (+1)	1,443 (-2%)	4mo	$200,000	$139	67
212 Leigh St	0.62mi	2/1.0	1,414 (-4%)	13mo	$136,000	$96	53
1733 Chamberlain St	0.36mi	3/1.0 (+1)	1,560 (+6%)	23mo	$190,000	$122	50

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: 5.2%
• Equity multiple: 1.20×
• Total profit: $5,974
• Equity at exit: $15,656

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $34,862
• Equity at exit: $9,078

Cash invested: $29,400 (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 24592

• Home prices YoY: -27.0%
• Active inventory: 61
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $361

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 69%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Jefferson Ave Apt 113 South Boston, VA	2.0	2.0	1119	$1,375	$1.23	43d	1	0.23mi

Listing history 17 events

1. 2026-06-18
   days on market $105,000 Active 28 DOM
2. 2026-06-17
   days on market $105,000 Active 27 DOM
3. 2026-06-16
   days on market $105,000 Active 26 DOM
4. 2026-06-15
   days on market $105,000 Active 25 DOM
5. 2026-06-15
   days on market $105,000 Active 24 DOM
6. 2026-06-13
   days on market $105,000 Active 23 DOM
7. 2026-06-12
   days on market $105,000 Active 22 DOM
8. 2026-06-09
   days on market $105,000 Active 19 DOM
9. 2026-06-08
   days on market $105,000 Active 18 DOM
10. 2026-06-08
    days on market $105,000 Active 17 DOM
11. 2026-06-07
    days on market $105,000 Active 16 DOM
12. 2026-06-03
    days on market $105,000 Active 13 DOM
13. 2026-06-02
    days on market $105,000 Active 12 DOM
14. 2026-06-01
    days on market $105,000 Active 11 DOM
15. 2026-05-31
    days on market $105,000 Active 10 DOM
16. 2026-05-21
    listed $105,000 Active
17. 2011-07-01
    soldstatus $18,025

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $16,500
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$3,055
• Taxable income: $2,824
• Est. tax owed @ 24.0%: −$678
• After-tax cash flow: $3,650/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: Halifax County Public School District
• NCES district ID: 5101770
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 59% ▼ -15.00%
• Median HH income: $36,137
• Composite: 36.36/100
• National rank: #4687
• State rank: #116 of 131 in VA

Livability — South Boston

• Score: 74/100
• State rank: #147
• US rank: #4742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Boston, VA
• Population (ZIP): 14,411

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 32,892 people
• By 2030: 31,438 · -4.4%
• By 2040: 28,350 · -13.8%
• By 2050: 25,553 · -22.3%
• By 2075: 20,217 · -38.5%
• By 2100: 14,645 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 40% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Halifax

• 2024 margin: Strong R (+21.1) · D 39.1% · R 60.2%
• 2008→2024 swing: -18.2pp toward R · 2008: -2.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+15.1 2016: R+16.6 2012: R+5.6 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.37%
• Current HPI: 190.3767
• 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

+482.5% since first listed

2 events — show timeline

• 2026-05-21 Listed $105,000 SPLLAR
• 2011-07-01 Sold (Public Records) $18,025 Public Records

Property tax history

-0.2%/yr

Latest (2025): $182 · +0.0% YoY. Source: county tax records.