416 Sullivan St · Blackstone, VA 23824

$89,000

2 bd · 1.0 ba · 669 sqft · SingleFamily · 42 Days on market

Built 1950 6,098 sqft lot $133/sqft · 30% below area Est $127k · 30% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

Key facts

• Tenant occupied
• 6,098 sq ft lot
• Built 1950

Tags

• INVESTMENT OPPORTUNITY
• TENANT OCCUPIED
• LOCAL SHOPS AND RESTAURANTS

Property features AI

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Block construction
• Exterior features: Metal roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Central air conditioning

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.0% in Blackstone — 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 71/100 on livability (#210 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Nottoway County Public School District (rural): math 34% / reading 59% proficiency, ranked #109 of 131 in VA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 57 units permitted in Nottoway County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Nottoway County population projected at -15% 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $40k; list at $89k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 21% 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 $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.47% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.30%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (median comp): $126,632
• List price: $89,000
• Delta: -29.72%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 Sullivan St	0.03mi	2/1.0	750 (+12%)	6mo	$125,000	$167	73

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: 12.6%
• Equity multiple: 1.50×
• Total profit: $12,452
• Equity at exit: $13,270

10-year hold

• IRR: 21.5%
• Equity multiple: 2.83×
• Total profit: $45,501
• Equity at exit: $7,695

Cash invested: $24,920 (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 23824

• Home prices YoY: -9.2%
• Active inventory: 58
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,312 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $422

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 63%

Sensitivity live

Price	-10% $483	-5% $452	+0% $422	+5% $391	+10% $360
Rent	-10% $318	-5% $370	+0% $422	+5% $473	+10% $525
Rate	-1.0pp $466	-0.5pp $444	base $422	+0.5pp $399	+1.0pp $375

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $89,000 Active 42 DOM
2. 2026-06-18
   days on market $89,000 Active 40 DOM
3. 2026-06-17
   days on market $89,000 Active 39 DOM
4. 2026-06-16
   days on market $89,000 Active 38 DOM
5. 2026-06-15
   days on market $89,000 Active 37 DOM
6. 2026-06-15
   days on market $89,000 Active 36 DOM
7. 2026-06-13
   days on market $89,000 Active 35 DOM
8. 2026-06-12
   days on market $89,000 Active 34 DOM
9. 2026-06-09
   days on market $89,000 Active 31 DOM
10. 2026-06-08
    days on market $89,000 Active 30 DOM
11. 2026-06-08
    days on market $89,000 Active 29 DOM
12. 2026-06-05
    days on market $89,000 Active 27 DOM
13. 2026-06-03
    days on market $89,000 Active 25 DOM
14. 2026-06-02
    days on market $89,000 Active 24 DOM
15. 2026-06-01
    days on market $89,000 Active 23 DOM
16. 2026-05-31
    days on market $89,000 Active 22 DOM
17. 2026-05-09
    listed $89,000 Active 606-char remark
18. 2023-07-20
    soldstatus $40,000 Closed 353-char remark

    Show marketing remark (353 chars)

    INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

19. 2023-05-19
    status Pending 353-char remark

    Show marketing remark (353 chars)

    INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

20. 2023-05-18
    price $40,000 353-char remark

    Show marketing remark (353 chars)

    INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

21. 2023-05-04
    price $49,900 353-char remark

    Show marketing remark (353 chars)

    INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

22. 2023-04-04
    price $54,900 353-char remark

    Show marketing remark (353 chars)

    INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

23. 2023-03-24
    status Active 353-char remark

    Show marketing remark (353 chars)

    INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

24. 2023-03-20
    status Pending 353-char remark

    Show marketing remark (353 chars)

    INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

25. 2023-03-19
    listed $69,900 Active 353-char remark

    Show marketing remark (353 chars)

    INVESTMENT PROPERTY HAD BEEN A RENTAL FOR MANY YEARS. $700 A MONTH. NEW VINYL FLOORING, NEW STOVE, FRIG, DRYER/WASHER STACKED COMBO. SPLIT HVAC BEING SOLD "AS IS WHERE IS". AS IS ADDENDUM REQUIRED WITH ALL OFFERS. OWNER LICENSED REALTOR IN VA OWNER REPRESENTED BY ACCESS REALTY LLC PENDING WAITING ON APPRAISAL UNDER FIRST RIGHT OF REFUSAL.

26. 2004-06-23
    historical
27. 2004-06-23
    historical
28. 2003-12-23
    listed $23,000
29. 2003-12-23
    listed $23,000
30. 2003-07-30
    soldstatus $9,500
31. 2002-12-17
    listed $9,500
32. 2002-12-17
    listed $9,500

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 21% 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: $15,747
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$2,589
• Taxable income: $3,873
• Est. tax owed @ 24.0%: −$930
• After-tax cash flow: $4,130/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: Nottoway County Public School District
• NCES district ID: 5102790
• Math proficiency: 34% ▼ -38.00%
• Reading proficiency: 59% ▼ -12.00%
• Median HH income: $38,125
• Composite: 38.65/100
• National rank: #4153
• State rank: #109 of 131 in VA

Livability — Blackstone

• Score: 71/100
• State rank: #210
• US rank: #6666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blackstone, VA
• Population (ZIP): 6,650

Population outlook (Nottoway County) Hauer SSP2

• Today (2025): 15,190 people
• By 2030: 14,867 · -2.1%
• By 2040: 13,993 · -7.9%
• By 2050: 12,924 · -14.9%
• By 2075: 10,416 · -31.4%
• By 2100: 7,281 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 46% Black 43% Two or more races 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Italian 1% Serbian 1% Danish 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Nottoway

• 2024 margin: Strong R (+22.4) · D 38.5% · R 60.8%
• 2008→2024 swing: -21.1pp toward R · 2008: -1.2pp · 2024: -22.4pp
• All cycles: 2024: R+22.4 2020: R+14.9 2016: R+13.1 2012: R+0.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.21%
• Current HPI: 178.7698
• 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

+836.8% since first listed

16 events — show timeline

• 2026-05-09 Listed $89,000 SCAR
• 2023-07-20 Sold (MLS) $40,000 SCAR
• 2023-05-19 Pending — SCAR
• 2023-05-18 Price Changed $40,000 SCAR
• 2023-05-04 Price Changed $49,900 SCAR
• 2023-04-04 Price Changed $54,900 SCAR
• 2023-03-24 Relisted — SCAR
• 2023-03-20 Pending — SCAR
• 2023-03-19 Listed $69,900 SCAR
• 2004-06-23 Listing Removed — CVRMLS
• 2004-06-23 Listing Removed — CVRMLS
• 2003-12-23 Listed $23,000 CVRMLS
• 2003-12-23 Listed $23,000 CVRMLS
• 2003-07-30 Sold (MLS) $9,500 CVRMLS
• 2002-12-17 Listed $9,500 CVRMLS
• 2002-12-17 Listed $9,500 CVRMLS

Property tax history

-1.2%/yr

Latest (2025): $116 · +6.7% YoY. Source: county tax records.