513 Forest St · Martinsville, VA 24112

$169,900

4 bd · 2.0 ba · 1,680 sqft · Other public records · 14 Days on market

Built 1948 7,841 sqft lot

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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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very spacious home with 4 bedrooms and 2 full baths. Home has been remodeled to include: freshly painted interior, refinished hardwood floors, new lighting fixtures thru out, sinks & toilets, countertop and backsplash. Plumbing has been updated with Pex piping and heat pump will be installed. Full unfinished basement that allows more room to expand along with a sunroom off of kitchen. All appliances will convey. (Seller to install fridge prior to closing). Make your appointment today to see what all this home has to offer. Seller is Motivated!! Prequalified buyers only or Proof of funds for cash buyers. Seller will contribute towards buyers closing costs as a credit paid at closing. All info taken from seller and tax ticket and should be verified to buyer's satisfaction.

Key facts

• Sunroom
• Conveniently located
• 7,841 sq ft lot

Tags

• SUNROOM
• FULL UNFINISHED BASEMENT
• CONVENIENTLY LOCATED
• ENDLESS POSSIBILITIES

Property features AI

Exterior

• Parking: Paved attached parking
• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Brick construction; Composition roof
• Exterior features: Screened porch; Porch

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total rooms: 7
• Flooring: Laminate; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling; Ceiling fans
• Interior features: Fireplace (1); Full unfinished basement with exterior walk-out access
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $170k.

Deal economics

• At list price, monthly cash flow is $35 ($423/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 $138k (19.0% below list).
• Recommended offer: $138k (19.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#231 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: amenities F, commute F, employment D-.
• Martinsville City Public School District (town): math 29% / reading 53% proficiency, ranked #122 of 131 in VA (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Albert Harris Elementary (math 22% / reading 32%, grade F, #1,029 of 1,108 statewide, top 94%, 403 students, 101% FRL); Martinsville Middle (math 33% / reading 58%, grade D+, #268 of 342 statewide, top 80%, 393 students, 100% FRL); Martinsville High (math 32% / reading 72%, grade D+, #295 of 319 statewide, top 93%, 564 students, 101% FRL) — zoned schools average 101% FRL vs 74% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 258 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5 units permitted in Martinsville city in 2024 (5 in 5+ unit buildings).
• This rent runs 34% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Martinsville County population projected at -14% 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.
• 8 sale attempts since 23y ago 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.
• Current owner paid $140k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $137,574 (19.0% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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?
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: 0.81% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-25,341
• Equity at exit: $25,333

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-19,399
• Equity at exit: $14,690

Cash invested: $47,572 (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: 258
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,376 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$90 /mo · $1,078/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $35

Break-even live

Break-even rent $1,331

Max offer price $169,900

Occupancy floor 92%

Sensitivity live

Price	-10% $131	-5% $83	+0% $35	+5% $-13	+10% $-61
Rent	-10% $-73	-5% $-19	+0% $35	+5% $90	+10% $144
Rate	-1.0pp $121	-0.5pp $78	base $35	+0.5pp $-9	+1.0pp $-54

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 Oakgrove Ave Martinsville, VA	4.0	1.0	1085	$1,700	$1.57	45d	1	0.47mi
310 Brown St Martinsville, VA	3.0	2.0	2000	$1,000	$0.50	46d	1	0.74mi

Listing history 12 events

1. 2026-06-22
   days on market $169,900 Active 14 DOM
2. 2026-06-21
   days on market $169,900 Active 13 DOM
3. 2026-06-19
   days on market $169,900 Active 11 DOM
4. 2026-06-18
   days on market $169,900 Active 10 DOM
5. 2026-06-17
   days on market $169,900 Active 9 DOM
6. 2026-06-16
   days on market $169,900 Active 8 DOM
7. 2026-06-15
   days on market $169,900 Active 7 DOM
8. 2026-06-14
   days on market $169,900 Active 5 DOM
9. 2026-06-12
   remarks 475-char remark
10. 2026-06-12
    days on market $169,900 Active 4 DOM
11. 2026-06-09
    remarks 444-char remark
12. 2026-06-09
    listed $169,900 Active 1 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: $1,078 · $90/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$315/yr (+$26/mo · 29.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $16,509
• − Mortgage interest: −$9,517
• − Property taxes: −$1,078
• − Insurance: −$850
• − Repairs & maintenance: −$1,321
• − Management: −$1,321
• − Depreciation: −$4,943
• Taxable loss: −$2,520
• Est. tax savings @ 24.0%: +$605
• After-tax cash flow: $1,028/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: Martinsville City Public School District
• NCES district ID: 5102400
• Math proficiency: 29% ▼ -51.00%
• Reading proficiency: 53% ▼ -14.00%
• Median HH income: $31,215
• Composite: 33.43/100
• National rank: #5467
• State rank: #122 of 131 in VA

Livability — Martinsville

• Score: 70/100
• State rank: #231
• US rank: #7826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinsville, VA
• County: Martinsville City · 31,028 people
• City population: 31,028
• 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 (Martinsville County) Hauer SSP2

• Today (2025): 13,026 people
• By 2030: 12,673 · -2.7%
• By 2040: 11,933 · -8.4%
• By 2050: 11,136 · -14.5%
• By 2075: 9,886 · -24.1%
• By 2100: 8,334 · -36.0%

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 · Martinsville

• 2024 margin: Strong D (+22.6) · D 60.7% · R 38.1% · Other 1.2%
• 2008→2024 swing: -5.4pp toward R · 2008: 28.0pp · 2024: 22.6pp
• All cycles: 2024: D+22.6 2020: D+26.6 2016: D+23.5 2012: D+24.6 2008: D+28.0

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

+200.7% since first listed

19 events — show timeline

• 2026-06-08 Listed $169,900 MHPCAR
• 2023-03-21 Sold (Public Records) $140,000 Public Records
• 2023-03-20 Sold (MLS) $140,000 MHPCAR
• 2023-03-17 Pending — MHPCAR
• 2023-02-16 Contingent — MHPCAR
• 2023-02-01 Relisted — MHPCAR
• 2023-01-25 Listed — MHPCAR
• 2022-10-04 Listed $155,000 MHPCAR
• 2012-02-15 Sold (Public Records) $25,000 Public Records
• 2012-02-13 Sold (MLS) $25,000 MHPCAR
• 2011-11-15 Listed $24,900 MHPCAR
• 2011-04-06 Sold (Public Records) $12,000 Public Records
• 2011-03-14 Listing Removed — MLSRV
• 2011-03-08 Sold (MLS) $12,350 MHPCAR
• 2010-11-19 Listed $39,900 MHPCAR
• 2010-11-19 Listed $39,900 MLSRV
• 2003-09-02 Sold (Public Records) $56,500 Public Records
• 2003-08-28 Sold (MLS) $56,500 MHPCAR
• 2003-06-06 Listed $56,500 MHPCAR

Property tax history

+4.9%/yr

Latest (2025): $1,078 · +40.7% YoY. Source: county tax records.