235 S Crater · Petersburg, VA 23803

$125,000

1 bd · 1.0 ba · 644 sqft · SingleFamily public records · 11 Days on market

Built 1913 9,147 sqft lot Est $110k · 14% over

---

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 +18.4/30.0
• DSCR +5.8/10.0
• Appreciation +5.7/10.0
• 1% rule +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0

Listing remarks MLS

Welcome home to this quaint renovated Ranch! All new fixtures throughout! Kitchen features all new Granite countertops, cabinets, Stainless Steel appliances, and vinyl plank flooring. Hardwood floors in family room and bedroom. The renovated bathroom features ceramic tile flooring as well as in the tub/shower. The home has a new roof and replacement windows. Enjoy the peace and tranquility of the private wooded backyard from the enclosed porch! Don't wait on this one-it wont last!

Key facts

• 9,147 sq ft lot
• Built 1913
• Listed 11 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story home; Above-grade finished living area present; Resale property
• Construction: Frame construction with vinyl siding; Composition roof
• Exterior features: Front porch; Rear porch; Porch

Interior

• Kitchen: Smooth cooktop; Stove; Dishwasher; Refrigerator; Granite counters
• Bedrooms: Total of 4 rooms (includes living spaces and bedrooms)
• Flooring: Ceramic tile; Vinyl; Wood
• Bathrooms: One full bathroom with tub and shower
• Heating & cooling: Electric heating; Heat pump cooling
• Interior features: Thermal windows; Granite counters; Main level primary; Crawl space basement
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $116 ($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 $116k (7.4% below list).
• Recommended offer: $116k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.5% in Petersburg — 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 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 290 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($864 loan paydown + $2k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 5.9% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $125k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 42% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,769 (7.4% below list)

Questions for the listing agent

1. Built in 1913 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.93% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $110,124
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 S Crater	0.00mi	1/1.0	644 (0%)	1mo	$110,000	$171	100
1047 Sussex St	0.46mi	2/1.0 (+1)	672 (+4%)	3mo	$100,000	$149	64
23 S Burch St	0.28mi	2/1.0 (+1)	576 (-11%)	2mo	$103,500	$180	63
42 N Old Church St	0.37mi	2/1.0 (+1)	673 (+4%)	9mo	$95,000	$141	62
25 Cherry St	0.33mi	2/1.0 (+1)	720 (+12%)	4mo	$140,000	$194	57
7 S Burch St	0.31mi	1/1.0	576 (-11%)	13mo	$105,000	$182	57
21 Cherry St	0.32mi	2/1.0 (+1)	720 (+12%)	6mo	$118,500	$165	55
862 Apperson St	0.28mi	2/1.0 (+1)	576 (-11%)	12mo	$149,000	$259	55
600 S Jefferson St	0.72mi	2/1.0 (+1)	672 (+4%)	5mo	$82,500	$123	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.45×
• Total profit: $15,912
• Equity at exit: $45,617

10-year hold

• IRR: 13.8%
• Equity multiple: 2.87×
• Total profit: $65,277
• Equity at exit: $62,967

Cash invested: $35,000 (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 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 290
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,158 high
• Mortgage (P&I): −$656
• Tax from tax record: −$91 /mo · $1,096/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $116

Break-even live

Break-even rent $1,011

Max offer price $125,000

Occupancy floor 85%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 S Little Church St Petersburg, VA	2.0	2.5	600	$1,475	$2.46	23d	1	0.18mi
445 Roundtop Ave Petersburg, VA	2.0	1.0	750	$1,050	$1.40	1d	3	0.21mi
250 E Bank St Petersburg, VA	2.0	1.0–2.0	862	$1,354	$1.57	1d	19	0.65mi
219 E Bank St Apt 121 Petersburg, VA	1.0	1.0	569	$1,180	$2.07	43d	1	0.73mi
219 E Bank St Apt 136 Petersburg, VA	1.0	1.0	569	$1,150	$2.02	43d	1	0.73mi
219 E Bank St Apt 125 Petersburg, VA	1.0	1.0	671	$1,195	$1.78	2d	1	0.73mi
219 E Bank St Apt 134 Petersburg, VA	1.0	1.0	569	$1,175	$2.07	14d	1	0.73mi
219 E Bank St Apt 217 Petersburg, VA	1.0	1.0	615	$1,295	$2.11	43d	1	0.73mi
219 E Bank St Apt 105 Petersburg, VA	1.0	1.0	465	$1,085	$2.33	2d	1	0.73mi
219 E Bank St Apt 103 Petersburg, VA	1.0	1.0	465	$1,295	$2.78	20d	1	0.73mi
219 E Bank St Apt 126 Petersburg, VA	1.0	1.0	671	$1,275	$1.90	23d	1	0.73mi
219 E Bank St Apt 227 Petersburg, VA	1.0	1.0	615	$1,075	$1.75	23d	1	0.73mi
219 E Bank St Unit 215 Petersburg, VA	1.0	1.0	615	$1,195	$1.94	10d	1	0.74mi
30 Franklin St Petersburg, VA	1.0	1.0	609	$1,022	$1.68	1d	2	0.74mi
30 Franklin St Petersburg, VA	2.0	1.0–2.0	755	$1,224	$1.62	19d	1	0.74mi
15 N Union St Petersburg, VA	1.0	1.0	660	$1,072	$1.62	17d	9	0.86mi
15 N Union St Petersburg, VA	1.0	1.0	633	$999	$1.58	21d	2	0.86mi
456 Harrison St Unit B Petersburg, VA	1.0	1.0	456	$1,350	$2.96	43d	1	0.90mi
230 N Sycamore St Petersburg, VA	—	1.0	740	$1,300	$1.76	19d	1	0.92mi
230 N Sycamore St Petersburg, VA	1.0	1.0	622	$1,150	$1.85	1d	7	0.92mi
9 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	721	$995	$1.38	17d	6	0.95mi
9 N Market St Petersburg, VA	1.0	1.0	667	$1,199	$1.80	21d	1	0.96mi
25 W Bank St Petersburg, VA	1.0	1.0	765	$995	$1.30	1d	7	0.97mi
25 W Bank St Petersburg, VA	1.0	1.0	538	$1,050	$1.95	19d	1	0.97mi
16 S Market St Petersburg, VA	1.0–2.0	1.0–2.0	769	$1,102	$1.43	1d	17	1.01mi
1025 S Crater Rd Petersburg, VA	1.0–3.0	1.0–2.0	795	$1,014	$1.28	1d	10	1.07mi
109 Perry St Petersburg, VA	1.0–2.0	1.0–2.0	787	$1,097	$1.39	2d	15	1.08mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	797	$1,050	$1.32	14d	9	1.08mi
325 Brown St Petersburg, VA	1.0–2.0	1.0–2.0	775	$1,199	$1.55	21d	2	1.08mi
232 High St Unit B Petersburg, VA	1.0	1.0	750	$1,400	$1.87	1d	1	1.09mi
204 Saint Mark St Petersburg, VA	1.0	1.0	480	$1,014	$2.11	23d	1	1.22mi
217 N Carolina Ave Petersburg, VA	2.0	1.0	718	$1,025	$1.43	23d	1	1.27mi
647 W Washington St Petersburg, VA	1.0	1.0	595	$595	$1.00	16d	1	1.42mi

Listing history 11 events

1. 2026-05-02
   status Pending
2. 2026-04-20
   status Active
3. 2026-04-19
   price $125,000
4. 2026-04-11
   listed $135,000 Active
5. 2026-04-02
   historical $135,000
6. 2021-03-22
   soldstatus $60,000
7. 2021-03-19
   soldstatus $60,000 Closed 485-char remark

   Show marketing remark (485 chars)

   Welcome home to this quaint renovated Ranch! All new fixtures throughout! Kitchen features all new Granite countertops, cabinets, Stainless Steel appliances, and vinyl plank flooring. Hardwood floors in family room and bedroom. The renovated bathroom features ceramic tile flooring as well as in the tub/shower. The home has a new roof and replacement windows. Enjoy the peace and tranquility of the private wooded backyard from the enclosed porch! Don't wait on this one-it wont last!

8. 2021-02-21
   status Pending 485-char remark

   Show marketing remark (485 chars)

   Welcome home to this quaint renovated Ranch! All new fixtures throughout! Kitchen features all new Granite countertops, cabinets, Stainless Steel appliances, and vinyl plank flooring. Hardwood floors in family room and bedroom. The renovated bathroom features ceramic tile flooring as well as in the tub/shower. The home has a new roof and replacement windows. Enjoy the peace and tranquility of the private wooded backyard from the enclosed porch! Don't wait on this one-it wont last!

9. 2021-02-11
   price $64,500 485-char remark

   Show marketing remark (485 chars)

   Welcome home to this quaint renovated Ranch! All new fixtures throughout! Kitchen features all new Granite countertops, cabinets, Stainless Steel appliances, and vinyl plank flooring. Hardwood floors in family room and bedroom. The renovated bathroom features ceramic tile flooring as well as in the tub/shower. The home has a new roof and replacement windows. Enjoy the peace and tranquility of the private wooded backyard from the enclosed porch! Don't wait on this one-it wont last!

10. 2021-01-28
    listed $65,000 Active 485-char remark

    Show marketing remark (485 chars)

    Welcome home to this quaint renovated Ranch! All new fixtures throughout! Kitchen features all new Granite countertops, cabinets, Stainless Steel appliances, and vinyl plank flooring. Hardwood floors in family room and bedroom. The renovated bathroom features ceramic tile flooring as well as in the tub/shower. The home has a new roof and replacement windows. Enjoy the peace and tranquility of the private wooded backyard from the enclosed porch! Don't wait on this one-it wont last!

11. 2004-10-27
    soldstatus $28,000

ⓘ 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: $1,096 · $91/mo
• Projected year-2 tax: $1,096 · $91/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,892
• − Mortgage interest: −$7,002
• − Property taxes: −$1,096
• − Insurance: −$625
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$3,636
• Taxable loss: −$690
• Est. tax savings @ 24.0%: +$166
• After-tax cash flow: $1,553/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: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• Metro: Richmond, 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

+346.4% since first listed

11 events — show timeline

• 2026-05-02 Pending — CVRMLS
• 2026-04-20 Relisted — CVRMLS
• 2026-04-19 Price Changed $125,000 CVRMLS
• 2026-04-11 Listed $135,000 CVRMLS
• 2026-04-02 Coming Soon $135,000 CVRMLS
• 2021-03-22 Sold (Public Records) $60,000 Public Records
• 2021-03-19 Sold (MLS) $60,000 CVRMLS
• 2021-02-21 Pending — CVRMLS
• 2021-02-11 Price Changed $64,500 CVRMLS
• 2021-01-28 Listed $65,000 CVRMLS
• 2004-10-27 Sold (Public Records) $28,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,096 · +65.0% YoY. Source: county tax records.